Tag Archives: Foreclosure Starts

A new report notes that 2023 foreclosure filings were up from 2022 but still below pre-pandemic levels. "Reflecting on 2023, we see the recent rise in foreclosure activity as a market correction rather than a cause for alarm. It signals a return to more traditional patterns after years of volatility," said Rob Barber, CEO at ATTOM.

A monthly report shows that states with the highest number of foreclosure starts include the red-hot real estate markets of California, Florida, and Texas.

Despite the improvement in delinquencies, foreclosure starts rose to 33K in October, hitting their highest levels in 18 months.

ATTOM reports that foreclosure activity through the first six months of 2023 maintained an upward trajectory, nearing levels last recorded prior to the pandemic.

In addition, a new report notes that Fannie Mae and Freddie Mac completed 58,268 foreclosure prevention actions in Q1 2023. Click through to read the other data from the GSEs’ Q1 2023 Foreclosure Prevention and Refinance Report.

Black Knight reports that during the month of May, past-due mortgages approached recent record lows as the number of borrowers a single payment past due improved by 94,000.

Spurred by rising unemployment, ATTOM has found that U.S. foreclosure filings climbed 22% year-over-year in the first quarter of 2023.

“The uptick in overall foreclosure filings nationwide points toward a trend that may suggest more increased activity is on the horizon as we enter the new year,” said ATTOM CEO Rob Barber.

According to Black Knight, mortgage delinquencies were up seven basis points month-over-month but down 9% year-over-year. Also, prepayments fell for the third straight month.

Per an ATTOM report, foreclosure filings hit 324,237 in December 2022, up from 151,153 in December 2021. This pushed the foreclosure rate from 0.11% in December 2021 to 0.23% in December 2022.