According to ATTOM’s Q3 2023 U.S. Foreclosure Market Report, there were a total of 124,539 U.S. properties with foreclosure filings—default notices, scheduled auctions or bank repossessions—up 28% from the previous quarter, and 34% from a year ago. The report also shows there were a total of 37,679 U.S. properties with foreclosure filings in September 2023, up 11% from the previous month, and up Continue Reading
Foreclosure Volume Expected to Rise Slightly to Close Out 2023
Auction.com has released its 2023 Seller Insights Report which found that approximately 92% of default servicing industry leaders expect completed foreclosure volume to increase in 2023 compared to 2022, while 85% expect home prices to decline in 2023 compared to 2022. The 2023 Seller Insights Report also revealed that economic conditions will have the biggest impact on foreclosure volumes for Continue Reading
Serious Delinquencies Continue to Improve in May
According to Black Knight, reversing much of April's calendar-driven spike, the national delinquency rate fell 11 basis points in May 2023 to 3.10%–the lowest reported total rate since March 2023's record low of 2.92% The number of borrowers who were a single payment past due improved by 94,000 (-9.5%), erasing nearly half of the prior month's increase. Serious delinquencies (loans 90 or Continue Reading
Foreclosure Starts and Completions Down From April
ATTOM has released its April 2023 U.S. Foreclosure Market Report, showing a total of 32,977 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — were down 10% from last month but up 8% from a year ago. Illinois, Maryland, and New Jersey post highest foreclosure rates Nationwide one in every 4,234 housing units had a Continue Reading
Q1 Foreclosure Activity Trends Upward
ATTOM’s Q1 2023 U.S. Foreclosure Market Report has found that a total of 95,712 U.S. properties had foreclosure filings during Q1 of 2023, up 6% from Q4 of 2022, and up 22% year-over-year. The report also shows a total of 36,617 U.S. properties with foreclosure filings in March 2023 alone, up 20% from February 2023’s totals, and up 10% from a year ago—the 23rd consecutive month with a Continue Reading
Mortgage Defaults: What We Learned from 2007
A new white paper by Gopal "Sharath" Sharathchandra, the SVP of Financial Solutions for Ventera, entitled “How High Will Mortgage Defaults Go? Lessons from the 2007 Recession” forecasts the impact of the recent decline in home prices and the effects it might have on the mortgage market. According to Sharathchandra, price declines are likely to mirror those seen in 2007, but across a Continue Reading
Foreclosure Activity Increases for Eleventh Consecutive Month
ATTOM, along with its subsidiary RealtyTrac, has released its latest Foreclosure Market Report for March and the first quarter of 2022 which has found that there was a total of 33,333 properties with foreclosure filings against them, up 29% from February (which saw 25,833 filings) and up 181% from a year ago. Foreclosure activity has now surpassed numbers seen before the Continue Reading
