ICE First Look at Mortgage Performance: Delinquencies Trend Slightly Higher in June as Foreclosure Activity Continues to Rise off Pandemic-Era Lows

Business Wire

7 days ago

ATLANTA & NEW YORK--(BUSINESS WIRE)--ICE Mortgage Technology, neutral provider of a robust end-to-end mortgage platform and part of Intercontinental Exchange, Inc. (NYSE: ICE), today released its June 2025 ICE First Look, which shows that while overall mortgage payment performance remains strong, delinquencies rose on a monthly basis while foreclosures trended notably higher year over year (YoY).
Key takeaways from the ICE First Look, which reports on month-end delinquency, foreclosure and prepayment statistics sourced from ICE's loan-level database, include:
The national delinquency rate rose by 15 basis points (bps) from May to 3.35% driven by early-stage delinquencies.
FHA delinquencies, which tend to experience more seasonality, rose by 41 bps in the month, hitting their highest June level since 2013, excluding the 2020-2021 pandemic-era impact.
Serious delinquencies (SDQs) – loans 90+ days past due but not in foreclosure – held steady but are up +8% (35K) YoY, with FHA loans now accounting for +51% of all SDQs nationwide.
Foreclosure activity continues to rise off pandemic-era lows with the share of loans in active foreclosure up +10% from the same time last year. Foreclosure starts and sales both rose YoY in each of the past four months.
Prepayment activity, measured in single month mortality, slipped by 6 bps to 0.65% on higher rates, although it remains up +22% from the same time last year.
Data as of June 30, 2025
Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.35%
Month-over-month change: 4.74%
Year-over-year change: -3.80%
Total U.S. foreclosure pre-sale inventory rate: 0.38%
Month-over-month change: 0.20%
Year-over-year change: 9.90%
Total U.S. foreclosure starts: 31,000
Month-over-month change 9.68%
Year-over-year change: 36.50%
Monthly prepayment rate (SMM): 0.65%
Month-over-month change: -8.74%
Year-over-year change: 21.91%
Foreclosure sales: 6,300
Month-over-month change: -9.70%
Year-over-year change: 18.17%
Number of properties that are 30 or more days past due, but not in foreclosure: 1,834,000
Month-over-month change: 90,000
Year-over-year change: -39,000
Number of properties that are 90 or more days past due, but not in foreclosure: 466,000
Month-over-month change: 0
Year-over-year change: 35,000
Number of properties in foreclosure pre-sale inventory: 208,000
Month-over-month change: 1,000
Year-over-year change: 22,000
Number of properties that are 30 or more days past due or in foreclosure: 2,042,000
Month-over-month change: 91,000
Year-over-year change: -17,000
*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
Notes:
1)
Totals are extrapolated based on ICE's loan-level database of mortgage assets.
2)
All whole numbers are rounded to the nearest thousand, except foreclosure starts and sales, which are rounded to the nearest hundred.
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The company will provide a more in-depth review of this data in its monthly Mortgage Monitor report, which includes an analysis of data supplemented by detailed charts and graphs that reflect trend and point-in-time observations. The Mortgage Monitor report will be available online at https://mortgagetech.ice.com/resources/data-reports by August 11, 2025.
For more information about gaining access to ICE's loan-level database, please send an email to [e-mail].
About the ICE First Look
ICE maintains the nation's leading repository of loan-level residential mortgage data and performance information – which covers the majority of the U.S. market – including tens of millions of loans across the spectrum of credit products and more than 230 million historical records. In addition, the company maintains a robust public property records database that covers 99.9% of the U.S. population and households from more than 3,100 counties. ICE's research experts carefully analyze this data to produce the First Look, a monthly summary of month-end delinquency, foreclosure and prepayment statistics.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE's futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world's largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates industries to connect our customers to opportunity.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors ICE's Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on February 6, 2025.
Category: Mortgage Technology