ICE First Look: Foreclosure Activity Creeps Up

(Image courtesy of Philippe WEICKMANN/pexels.com)

Intercontinental Exchange Inc., Atlanta, released its First Look at April 2025 data, finding that the national delinquency rate is up to 3.22%–up 1 basis point from March and 13 basis points from April 2024.

However, delinquencies remain below pre-pandemic levels.

Also in the data are U.S. Department of Veterans Affairs mortgages now processing through the foreclosure pipeline following the moratorium expiration.

Serious delinquencies, loans 90-plus days past due but not in foreclosure–improved seasonally but were up 14% from April 2024. That’s the sixth straight month of annual increases over 10%.

(Image courtesy of ICE)

Foreclosure starts were up 13%, foreclosure sales were up 9% and active inventory was up 4%. Those metrics all rose on an annual basis for the second straight month.

With 6,500 foreclosure sales, April also saw the largest single-month volume in 15 months. VA sales hit their highest level since 2019.

Prepayment activity jumped to 0.71%, the highest level since October. The activity was driven by stronger home sale and refinance-related prepayments, up 19% from March.

The top five states by noncurrent percentage are Louisiana, at 7.6%, Mississippi, at 7.37%, Alabama, at 5.53%, Indiana, at 5.01%, and Arkansas, at 4.98%.

The bottom five states by noncurrent percentage are Washington, at 1.94%, Colorado, at 2%, Idaho, at 2.02%, Montana, at 2.08%, and Oregon, at 2.19%.