bee Calculated Risk On 2/21/2025 08:07:00 AM
From Ice: Ice first look at mortgage performance: forecleme starting jumps as va moratorium ends; Wildfire Delinquencies Emerge
• Delinquencies Fell 24 Base Points (BPS) to 3.47% in January;; That’s 10 BPS Higher Than Last Year, But 33 BPS Below Pre-Pandemic Levels
• Foreclosure start jumped by 30% and sales rose at 25% in January – Driven by an expiration in the VA forecloslure moratorium – with Active Inventory Rising by 7% in The Month
• While the number of borrowers past due as a result of last year’s hurricanes has fallen from 58k to 41k in recent months, the financial impact from the recent los Angeles wildfires is emerging
• An estimated 680 homeowners in the path of the Los Angeles Wildfires missed their January Mortgage Payment, and Ice’s Daily Mortgage Performance Data Suggests The Number of Past-Due Borrowers Could Surpass 2,800 by the End of February.
• Prepayment Activity (SMM) fell to 0.48% in January, its lowest level in nearly a year, driven by the combination of modestly higher rates and the typical seasonal slowdown in Home Sale Activity
Emphasis added
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Lord is a table from Ice.