Page 3 – Safeguard Properties

ICE First Look at Mortgage Performance: Delinquencies Hold Steady in April

Posted on May 26, 2026 by Safeguard

Industry Update
May 26, 2026

Intercontinental Exchange, Inc. (NYSE: ICE), one of the world’s leading providers of financial market technology and data powering global capital markets, today released the April 2026 ICE First Look at mortgage delinquency, foreclosure and prepayment trends. “Mortgage performance remained broadly stable from March to April, with the overall share of past-due loans unchanged and below pre-pandemic levels,” said Andy Walden, Head of Mortgage and Housing Market Research at ICE. “At the same time, the annual increase in past due loans continues to be concentrated in later-stage delinquencies, while early-stage delinquencies remain below last year’s levels, suggesting that most homeowners continue to stay on track. Cure activity has also rebounded over the past two months, though it remains below year-ago levels, making it important to monitor in the months ahead.”

Key takeaways

The overall delinquency rate held steady in April: The national delinquency rate was unchanged in April at 3.35%. Overall, delinquency levels remain 45 basis points (bps) below the January 2020 pre-pandemic benchmark but are up by 13 bps from the same time last year. The uptick was driven by a rise in seriously delinquent (90-plus days past due, but not in foreclosure) loans.

Late-stage delinquencies declined in April but are up from last year’s levels: Serious delinquencies declined seasonally in April for the second month in a row but are 21% (101,000) higher than year-ago levels. Early-stage delinquencies (loans that are 30- or 60-days past due) are down 5,000 from last year’s levels.

Cure activity continued to rebound: After cure activity fell sharply November through February, it rebounded in March and April with more than 62,000 borrowers curing seriously delinquent loans in each of those months. This is up from an average of 42,000 cures during the four preceding months. Despite the improvement, cures from serious delinquency remain 20% below last year’s levels.

Foreclosure starts and sales continued to normalize: April saw 37,000 foreclosure starts, the highest April count since the pre-pandemic era, and 7,900 foreclosure sales, up 22% annually. Despite the uptick, both starts and sales remain below their pre-pandemic norms, reflecting the normalization of foreclosure volumes after historically low activity.

Foreclosure inventory rose: The number of loans in active foreclosure rose by 3,000 in April to 276,000, up 32% from a year ago and above the 271,000 March 2020 pre-pandemic count for a second consecutive month. The 0.50% foreclosure rate is modestly below the March 2020 benchmark of 0.53%.

Prepayments slowed from March but are up on an annual basis: Mortgage prepayments, measured as the single month mortality (SMM) rate, fell 13% as rates moved higher, though activity remained significantly stronger than the same time last year.

For full report, please click the source link above.

Zombie Foreclosures Rise in Most States in Second Quarter

Posted on May 26, 2026 by Safeguard

Industry Update
May 21, 2026

Source: ATTOM

ATTOM, the leading provider of property data, AI-powered intelligence, and real estate analytics solutions, today released its latest Vacant Property and Zombie Foreclosure Report showing that nearly 1.4 million homes, or 1.3 percent of residential properties in the United States, were vacant in the second quarter of the year. That was the same rate as the previous quarter and as the second quarter of 2025.

The report analyzes publicly recorded real estate data collected by ATTOM — including foreclosure status, equity and owner-occupancy status — matched against monthly updated vacancy data. (See full methodology below).

Out of the country’s 104.9 million residential properties, 245,376 were in the foreclosure process in the second quarter. Of those, 8,312 properties, or 3.4 percent, were “zombies,” meaning the owners had abandoned the properties before the end of their foreclosure proceedings. The second quarter zombie rate was slightly higher than the 3.3 percent rate posted in the first quarter and at the same time last year.

“The increase in zombie foreclosures across most states may reflect a foreclosure market that is slowly returning to more normalized levels,” said Rob Barber, CEO of ATTOM. “At the same time, overall vacancy rates remain relatively steady nationwide, while zombie foreclosures still represent only a small share of homes in the foreclosure process.”

Number of zombie properties rises in most states

The number of zombie properties rose quarter-over-quarter in 38 states and the District of Columbia.

Among states with at least 100 zombie properties in the second quarter, the largest quarter-over-quarter increases were in Georgia (up 98 percent to 101 zombie properties), North Carolina (up 67.2 percent to 102 zombies), Indiana (up 42 percent to 294 zombies), Iowa (up 35.5 percent to 126 zombies), and South Carolina (up 15.4 percent to 150 zombies).

Only two states with at least 50 zombie properties saw their numbers drop: Washington (down 13.1 percent to 53 zombies) and New York (down 2.2 percent to 1,352 zombies).

Northeastern vacancy rates lowest

The states with the highest residential property vacancy rates in the second quarter were Oklahoma (2.4 percent), Kansas (2.4 percent), Alabama (2.2 percent), West Virginia (2.1 percent), and Missouri (2.1 percent).

The states with the lowest vacancy rates were New Hampshire (0.3 percent), Vermont (0.4 percent), New Jersey (0.5 percent), Connecticut (0.5 percent), and Idaho (0.6 percent)

Double-digit zombie rates in several Midwestern metros

Out of 138 metropolitan statistical areas with sufficient data to analyze, meaning they had at least 100,000 residential properties and at least 100 properties in the foreclosure process in the second quarter, the highest zombie rates were in Cedar Rapids, IA (13.2 percent); Wichita, KS (12.9 percent); Youngstown, OH (11.4 percent); Cleveland, OH (10.9 percent); and Akron, OH (10.6 percent).

Of those metros, the lowest zombie rates were in Grand Rapids, WY (0%); Trenton, NJ (0.2 percent); Atlantic City, NJ (0.4 percent); Provo, UT (0.5 percent); and Santa Rosa, CA (0.5 percent).

Vacancy rates for investor-owned homes are more than double national rate

Properties owned by institutional investors were more than twice as likely to be vacant as residential properties overall in the second quarter. Out of 25.1 million institutional investor-owned homes, 890,135, or 3.5 percent, were vacant.

The states with the highest vacancy rates for investor-owned homes were Indiana (7.1 percent); Illinois (6.2 percent); Kansas (6 percent); Oklahoma (6 percent); and Alabama (6 percent).

The states with the lowest vacancy rates for investor-owned homes were New Hampshire (0.9 percent); Vermont (1 percent); Idaho (1.3 percent); North Dakota (1.5 percent); and New Jersey (1.6 percent).

More than 30 percent of pre foreclosure homes vacant in multiple zip codes nationwide

Out of 2,391 zip codes with at least 1,000 residential properties and at least 25 in the foreclosure process in the second quarter, the highest zombie rates were in 21217 in Baltimore, MD (51.6 percent); 91001 in Los Angeles, CA (50 percent); 33708 in Tampa, FL (37.9 percent); 32118 in Daytona, FL (37.5 percent); and 34652 in Tampa, FL (33.7 percent).

Conclusion

ATTOM’s second quarter analysis of vacant and zombie homes found that the national vacancy rate held steady at 1.3 percent while the rate of zombie homes inched upward to 3.4 percent. Zombie rates rose in the majority of states and were higher among investor-owned properties.

For full report, please click the source link above.

FEMA Fire Management Assistance Declaration – Texas Hunggate Fire

Posted on May 19, 2026 by Safeguard

FEMA Alert
May 14, 2026

FEMA has issued a Fire Management Assistance Declaration for the state of Texas to supplement state, tribal and local recovery efforts in areas affected by the Hunggate Fire on May 14, 2026. The following counties have been approved for assistance:

Public Assistance:

Randall

Texas Hunggate Fire (FM-5633-TX)

List of Affected Zip Codes

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

Foreclosure Activity Maintains Gradual Annual Climb in April 2026

Posted on May 15, 2026May 15, 2026 by Safeguard

Industry Update
May 14, 2026

Source: ATTOM

ATTOM, the leading provider of property data, AI-powered analytics, and real estate intelligence solutions, today released its April 2026 U.S. Foreclosure Market Report, which shows there were a total of 42,430 U.S. properties with foreclosure filings— default notices, scheduled auctions or bank repossessions — down 8 percent from a month ago and up 18 percent from a year ago.

“Foreclosure activity continued its gradual trend higher in April, with both foreclosure starts and completed foreclosures posting annual gains,” said Rob Barber, CEO at ATTOM. “While overall filings declined from the previous month, the year-over-year increases suggest lenders may be working through distressed inventory as higher borrowing costs and affordability challenges impact some homeowners. Even so, foreclosure activity remains significantly below pre-pandemic levels.”

Nation’s worst foreclosure rates in Delaware, South Carolina, and Florida

One in every 3,388 housing units nationwide had a foreclosure filing in April 2026. Delaware posted the nation’s worst foreclosure rate at one in every 1,739 housing units with a foreclosure filing. South Carolina followed closely behind (one in every 1,745 housing units), followed by Florida (one in every 2,092 housing units), Indiana (one in every 2,129 housing units), and Illinois (one in every 2,262 housing units).

Among metro areas with populations of 500,000 or more, Lakeland, Fl recorded the worst foreclosure rate in April 2026, with one filing for every 1,221 housing units. Following Lakeland were Columbia, SC (one in every 1,287); Charleston, SC (one in every 1,483); Bakersfield, CA (one in every 1,566); and Cape Coral, FL (one in every 1,628 housing units).

Florida, Texas, and California led nation in foreclosure starts

In April 2026, lenders started the foreclosure process on 28,414 U.S. properties, down 6 percent from the previous month but up 12 percent from a year ago.

States with the highest number of foreclosure starts in April 2026 were Florida (3,505 foreclosure starts); Texas (3,154 foreclosure starts); California (2,786 foreclosure starts); Georgia (1,407 foreclosure starts); and Illinois (1,366 foreclosure starts).

Among major metropolitan areas with a population of at least 500,000 and a minimum of 100 foreclosure starts, the following saw the largest year-over-year increases in foreclosure starts in April 2026: Pittsburgh, PA (increase from 82 foreclosure starts in April 2025 to 215 in April 2026); Austin, TX (increase from 158 to 396 foreclosure starts); Raleigh, NC (increase from 68 to 146 foreclosure starts); Lakeland, FL (increase from 99 to 199 foreclosure starts); and Akron, OH (increase from 60 to 117 foreclosure starts).

Completed foreclosures continue to rise annually

In April 2026, Lenders repossessed 5,098 U.S. properties through completed foreclosures (REOs), down 3 percent from the previous month but up 42 percent from a year ago.

States with the highest number of REOs in April 2026 were Texas (640 REOs); California (515 REOs); Florida (381 REOs); Pennsylvania (346 REOs); and Illinois (340 REOs).

Contrary to the national trend, those major metropolitan statistical areas (MSAs) with a population greater than 200,00 and at least 10 REO’s that saw the greatest annual decline in the number of REOs in April 2026 included: Atlanta, GA (decrease from 213 REO’s in April 2025 to 52 in April 2026); Kansas City, MO (decrease from 30 to 10 REO’s); Flint, MI (decrease from 24 to 11 REO’s); Macon, GA (decrease from 26 to 14 REO’s); and Cleveland, OH (decrease from 38 to 24 REO’s).

Key highlights from the April 2026 foreclosure data

ATTOM’s April 2026 U.S. Foreclosure Market Report shows 42,430 U.S. properties with a foreclosure filing, down 8 percent from March but up 18 percent from a year ago, continuing a year-long trend of annual increases in foreclosure activity. Foreclosure starts rose 12 percent year over year to 28,414, while completed foreclosures (REOs) increased 42 percent annually to 5,098. Even with annual increases in foreclosure filings, foreclosure activity remains significantly below pre-pandemic levels.

For full report, please click the source link above.

Mortgage Delinquencies Increase in the First Quarter of 2026

Posted on May 15, 2026 by Safeguard

Industry Update
May 14, 2026

Source: Mortgage Bankers Association

The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 4.44 percent of all loans outstanding at the end of the first quarter of 2026, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.

The delinquency rate was up 18 basis points from the fourth quarter of 2025 and up 40 basis points from one year ago. The percentage of loans on which foreclosure actions were started in the first quarter rose by 4 basis points to 0.24 percent.

“Mortgage delinquencies increased on an annual basis, with conventional loan delinquencies relatively flat but with notable increases among FHA and VA loans,” said Marina Walsh, CMB, MBA’s Vice President of Industry Analysis. “Last quarter, the delinquency rate for FHA loans was about 900 basis points higher than the conventional delinquency rate, and the VA delinquency rate was almost 225 basis points higher than the conventional delinquency rate. These are the widest spreads since 2021.”

Added Walsh, “We also saw movement of some delinquent FHA and VA loans into later stages of delinquency and into foreclosure. While the overall foreclosure rate remains well below historical averages, the first quarter’s foreclosure inventory rate for FHA loans reached its highest level since the fourth quarter of 2018, and the foreclosure rate for VA loans reached the highest level since the second quarter of 2017.”

Walsh noted that results have been affected by the expiration of pandemic-era FHA relief options at the end of September 2025 and by the implementation of required trial payment plans, during which FHA loans are still considered delinquent for survey purposes until a permanent workout is in place. Meanwhile, the industry also awaits the final guidance and implementation of the VA partial claim program to help veterans avoid foreclosure by covering missed payments.

Key findings of MBA’s First Quarter of 2026 National Delinquency Survey:

Compared to last quarter, the seasonally adjusted mortgage delinquency rate increased for all loans outstanding. By stage, the 30-day delinquency rate increased 17 basis points to 2.24 percent, the 60-day delinquency rate decreased 14 basis points to 0.78 percent, and the 90-day delinquency bucket increased 15 basis points to 1.42 percent.
By loan type, the total seasonally adjusted delinquency rate for conventional loans decreased 14 basis points to 2.75 percent over the previous quarter. The total FHA seasonally adjusted delinquency rate increased 36 basis points to 11.88 percent, and the total VA seasonally adjusted delinquency rate increased 39 basis points to 4.99 percent.
On an annual basis, total mortgage delinquencies increased for all loans outstanding. The delinquency rate increased 5 basis points for conventional loans, increased 126 basis points for FHA loans and increased 36 basis points for VA loans from the previous year.
The delinquency rate includes loans that are at least one payment past due but does not include loans in the process of foreclosure. The percentage of loans in the foreclosure process at the end of the first quarter was 0.64 percent, up 11 basis points from the fourth quarter of 2025, and 15 basis points higher than one year ago.
The non-seasonally adjusted seriously delinquent rate, the percentage of loans that are 90 days or more past due or in the process of foreclosure, was 2.03 percent. It increased 18 basis points from last quarter and increased 40 basis points from last year. The seriously delinquent rate decreased 4 basis points for conventional loans, increased 94 basis points for FHA loans, and increased 3 basis points for VA loans from the previous quarter. Compared to a year ago, the seriously delinquent rate decreased 1 basis point for conventional loans, increased 212 basis points for FHA loans, and increased 10 basis points for VA loans.
The five states with the largest annual increases in their overall delinquency rate were: Mississippi (131 basis points), Louisiana (88 basis points), Maryland (84 basis points), Georgia (78 basis points), and Alabama (73 basis points).

For the purposes of the survey, MBA asks servicers to report loans in forbearance as delinquent if the payment was not made based on the original terms of the mortgage.

For full report, please click the source link above.

Chicago Neighborhood Sees New Homes Rise on Long-Vacant Lots

Posted on May 6, 2026 by Safeguard

One Community Update
May 2, 2026

Source: fox32chicago.com

A ribbon cutting on Friday marked new home construction on East 118th Street in Roseland, where nonprofit groups and public agencies are building housing on land that sat vacant for years.

The Hope Center Foundation, Chicago Neighborhood Initiatives, and the Cook County Land Bank Authority lead the effort.

The project links new housing to the Red Line extension and aims to expand homeownership on the Far South Side after decades of disinvestment.

What is being built

One block on East 118th Street will include 11 homes. A nearby block on South Indiana Avenue will include seven.

Organizers report 21 homes completed in Roseland so far. Plans call for 20 more homes in fall 2026 and 50 more in 2027. That would bring the total to 91 homes in three years.

The work is part of the Reclaiming Chicago initiative, which targets 2,000 homes across the South and West sides.

From vacant land to housing

The Cook County Land Bank Authority says it acquired more than 40 parcels for the project, with another 15 lots assembled with Salem Baptist Church. About 50 vacant lots sit within a six-block area tied to the effort.

Jessica Caffrey leads the land bank.

“Now 10-fold the homes that you see today,” Caffrey said. “These 44 opportunities could have stayed undeveloped. Instead, they’re becoming front porches, living rooms, backyards.”

David Doig leads Chicago Neighborhood Initiatives.

“We have seen such a transformation of this particular block,” Doig said. “You’ll see that existing homeowners are now fixing up their properties… we’re seeing vacant buildings that are being rehabbed.”

Transit and timing

Leaders tie the housing push to the Red Line extension, which broke ground last week after decades of planning.

“We did the Red Line last week,” U.S. Rep. Mike Quigley (D-Chicago) said. “It’s hard to have pursuit of happiness if there’s no train to get on… and no one can be happy if they don’t have a roof over their head.”

Developers say homes near the future station list between $250,000 and $260,000.

Who this affects

Keshawna is a new homeowner in the project.

“Today isn’t just about cutting a ribbon,” she said. “It marks the start of a future, the beginning of a community, and the promise that Roseland’s best days are yet to come.”

Leaders say buyers receive about $50,000 in purchase assistance. Homes are priced under $400,000.

Addressing a wider gap

Hope Center Foundation Executive Director Shanita Muse points to city data on poverty and wealth.

She said about 17% of Chicago residents live in poverty. She said the rate for Black residents is near 28%, compared with under 10% for white residents.

Muse cited research showing the median net worth for Black families in Chicago is $0, compared with about $210,000 for white families.

“What happens to a dream deferred?” Muse said. “Today, we stand in the fulfillment of that question, not a dream deferred, but a dream realized.”

What happens next

Developers plan more construction in Roseland over the next two years as part of the broader citywide housing effort.

For full report, please click the source link above.

Broome County Land Bank Awarded $1.11 Million to Support Vacant Rental Property Renovations

Posted on May 6, 2026 by Safeguard

One Community Update
May 1, 2026

Source: wbng.com

The Broome County Land Bank has been awarded $1.11 million to support its Vacant Rental Program (VRP), which funds renovation projects on rental units across the county.

Provided by New York State Homes and Community Renewal funding, the program will assist property owners in transforming vacant and blighted rental units into viable living spaces for lower-income individuals.

Repairs and improvements that can be made under the VRP include, but are not limited to, health and safety improvements, correction of code violations, and/or updating spaces to meet residential standards, accessibility modifications, environmental remediation, and other repairs determined necessary by the Land Bank.

“The Land Bank has been a leader in addressing blight in Broome County for more than a decade,” said Aaron Martin, Chairman of the Broome County Land Bank Board of Directors. “….By working with small, private landlords to bring uninhabitable apartments back online, we’re continuing our mission to restore underutilized properties and at the same time create much-needed new housing opportunities.”

In 2024, the Land Bank was first awarded $1.11 million to support the renovation of rental units throughout the county.

Eligible property owners were allowed to select grants of either $50,000 to $75,000 per unit to renovate their spaces.

Interested property owners and contractors interested in completing the work under the VRP can apply via the Land Bank’s website.

The Land Bank will work with construction managers to oversee the work for each rehabilitation project.

So far, under the project, two rental units in Broome County have been completed and 12 units actively under renovation.

For full report, please click the source link above.

Kansas City Land Bank Shifts Strategy to Tackle Housing Shortage

Posted on May 6, 2026 by Safeguard

One Community Update
May 1, 2026

Source: newsbreak.com

The Kansas City Land Bank is changing how it operates as the city works to address its housing shortage.

The Land Bank, which manages some of the city’s vacant and abandoned properties, outlined a new plan Wednesday centered on redeveloping vacant land and remediating environmental concerns.

The organization was originally created to sell and rehabilitate homes, but with only a few dozen houses left in its inventory, officials say that model no longer works.

Executive Director Gunnar Hand said the focus is now shifting to assessing the vacant lots in the Land Bank’s inventory, conducting environmental cleanup where needed, and exploring funding options to make new home construction more affordable.

“What we were initially trying to do was sell and rehab houses,” he said. “Fast forward to 2026, we only have 48 houses in our 3,500 unit inventory, parcel inventory, so our policies don’t address what our actual issue is.”

Land Bank leadership said the changes will mean taking direct ownership of property upkeep and environmental testing, all with the goal of making more land ready for affordable housing.

It’s a big deal to people who live in the neighborhoods with Land Bank property, like Kathryn Persley.

“I drive by blocks that used to be a house on every lot, and every lot is vacant,” said Persley, with the Dunbar Neighborhood Association. “We know now that the houses were just pushed over and covered up with dirt. So in addition to just it being Land Bank lots, we know there’s some environmental issues that need to be addressed, but there’s a lot of potential.”

Many of the lots may require expensive cleanup of old home debris buried decades ago on parcels where there used to be a home. It’s why Hand says KC Land Bank is focusing on identifying all of its properties, then focusing on cleanup.

“We’ll have a very focused view on neighborhoods and what should be sold versus what should be cleaned,” Hand said. “And then, I think you’re going to start to see the Land Bank in collaboration with other departments and other agencies, even outside the city, working on environmental remediation. Takes what is probably negatively valued properties to zero, and if we can get it to zero, I think they’re going to become a lot more marketable.”

For full report, please click the source link above.

Fannie and Freddie: Single Family Delinquency Rate Decreased Slightly in March

Posted on April 30, 2026 by Safeguard

Industry Update
April 28, 2026

Source: CalulatedRisk Newsletter

In general, single family delinquency rates are low but increasing slowly – although the delinquency rate decreased seasonally in March. Multi-family delinquency rates are high and increasing.

Freddie Mac reported that the Single-Family serious delinquency rate in March was 0.60%, down from 0.61% February. Freddie’s rate is up slightly year-over-year from 0.59% in March 2025. This is at the pre-pandemic level of 0.60%.

Freddie’s serious delinquency rate peaked in February 2010 at 4.20% following the housing bubble and peaked at 3.17% in August 2020 during the pandemic.

Fannie Mae reported that the Single-Family serious delinquency rate in March was 0.58%, down from 0.60% in February. The serious delinquency rate is up year-over-year from 0.56% in March 2025, however, this rate is below the pre-pandemic lows of 0.65%.

The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59% following the housing bubble and peaked at 3.32% in August 2020 during the pandemic.

These are mortgage loans that are “three monthly payments or more past due or in foreclosure”. Mortgages in forbearance are being counted as delinquent in this monthly report but are not reported to the credit bureaus.

For Fannie, by vintage, for loans made in 2004 or earlier (1% of portfolio), 1.32% are seriously delinquent (down from 1.36% the previous month).

For loans made in 2005 through 2008 (1% of portfolio), 1.99% are seriously delinquent (down from 2.07%).

For recent loans, originated in 2009 through 2026 (98% of portfolio), 0.53% are seriously delinquent (down from 0.55%). So, Fannie is still working through a handful of poor performing loans from the bubble years.

For full report, please click the source link above.

FEMA Major Disaster Declaration – Hawaii Kona Low Weather Systems

Posted on April 30, 2026 by Safeguard

FEMA Alert

April 7, 2026

FEMA has issued a Major Disaster Declaration for the state of Hawaii to supplement state, tribal and local recovery efforts in areas affected by Kona low weather systems from March 10-24, 2026. The following counties have been approved for assistance:

Individual Assistance: