by Calculated Risk on 4/25/2025 08:11:00 AM

From ICE: ICE First Look at Mortgage Performance: Delinquencies Improved Seasonally in March but Continue to Trend Modestly Higher

Intercontinental Exchange, Inc. (NYSE:ICE) ... today released its March 2025 First Look, which reveals that while delinquency rates edged up slightly year over year (YoY), they remain below pre-pandemic levels.

The ICE First Look reports on month-end delinquency, foreclosure and prepayment statistics sourced from its loan-level database, which covers a majority of the U.S. mortgage market.

Key takeaways from this month’s findings include:

• While serious delinquencies (SDQs) also improved seasonally, they are up 14% (+60K) YoY, with the rise driven entirely by FHA delinquencies, which increased by +63K YoY.

• Higher SDQs, along with the lifting of a VA foreclosure moratorium, fueled a modest bump in foreclosure inventory and sales, which both rose annually for the first time in nearly two years.

• Disaster events, such as hurricanes and wildfires, have led to YoY delinquency increases across several states, including Florida (+44 bps), South Carolina (+17 bps), Georgia (+14 bps) and California (+10 bps).

• Monthly prepayment activity, measured by single-month mortality, jumped to 0.59% – a +30.4% increase over February and the highest level of prepayment activity since November.
emphasis added

Click on graph for larger image.

Here is a table from ICE.

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