ICE First Look at Mortgage Performance: Mortgage Delinquencies Continue to Slowly Rise with FHA Performance in the Spotlight

• The national delinquency rate edged up 5 basis points (bps) to 3.53% in February; that’s up 19 bps from a year ago but still 32 bps below where it was entering the pandemic
• FHA mortgages accounted for 90% of the 131K year-over-year rise in the number of delinquencies, despite making up less than 15% of all active mortgages
• 4,100 homeowners in Los Angeles are now past due as a result of the wildfires, up from 700 in January, with daily performance data suggesting that number could edge higher in March
• Foreclosure starts (-17%) and sales (-11%) eased in February, but are up (+34%/+7%) from the same time last year as VA foreclosure activity resumed after a year-long moratorium
• Prepayment activity (SMM) fell to 0.46% in February, the lowest level in a year, on higher rates and a seasonal dip in home sales

ATLANTA & NEW YORK--(BUSINESS WIRE)-- Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, reports the following “first look” at February 2025 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

Data as of Feb. 28, 2025
Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.53%
Month-over-month change: 1.45%
Year-over-year change: 5.69%

Total U.S. foreclosure pre-sale inventory rate: 0.39%
Month-over-month change: 2.16%
Year-over-year change: -1.99%

Total U.S. foreclosure starts: 33,000
Month-over-month change -17.20%
Year-over-year change: 34.53%

Monthly prepayment rate (SMM): 0.46%
Month-over-month change: -5.09%
Year-over-year change: 8.71%

Foreclosure sales: 5,600
Month-over-month change: -11.40%
Year-over-year change: -7.03%

Number of properties that are 30 or more days past due, but not in foreclosure: ​ 1,913,000
Month-over-month change: 28,000
Year-over-year change: 131,000

Number of properties that are 90 or more days past due, but not in foreclosure: 528,000
Month-over-month change: -12,000
Year-over-year change: 69,000

Number of properties in foreclosure pre-sale inventory: 211,000
Month-over-month change: 4,000
Year-over-year change: 0

Number of properties that are 30 or more days past due or in foreclosure: 2,123,000
Month-over-month change: 32,000
Year-over-year change: 130,000

Top 5 States by Non-Current* Percentage
Louisiana:	8.25%
Mississippi:	7.94%
Alabama:	5.99%
Arkansas:	5.44%
Indiana:	5.35%
Bottom 5 States by Non-Current* Percentage
California:	2.38%
Montana:	2.30%
Colorado:	2.23%
Idaho:	2.09%
Washington:	2.07%
Top 5 States by 90+ Days Delinquent Percentage
Louisiana:	2.22%
Mississippi:	2.19%
Alabama:	1.58%
Florida:	1.57%
Georgia:	1.47%
Top 5 States by 12-Month Change in Non-Current* Percentage
New York:	-8.71%
Hawaii:	-7.01%
Alaska:	-4.67%
North Dakota:	-3.21%
Massachusetts:	-2.33%
Bottom 5 States by 12-Month Change in Non-Current* Percentage
Florida:	16.72%
North Carolina:	11.89%
Colorado:	10.90%
South Carolina:	9.29%
Georgia:	8.21%

*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.

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 April 7, 2025.

For more information about gaining access to ICE’s loan-level database, please send an email to ICE-MortgageMonitor@ice.com.

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.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

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

ICE-CORP

Source: Intercontinental Exchange

View source version on businesswire.com: https://www.businesswire.com/news/home/20250321266316/en/

ICE Media Contact

Brad Kuhn

brad.kuhn@ice.com

+1 (904) 248-6341

media@ice.com

ICE Investor Contact:

Katia Gonzalez

katia.gonzalez@ice.com

+1 (678) 981-3882

investors@ice.com

Source: Intercontinental Exchange

FAQ

What is the current national mortgage delinquency rate according to ICE's February 2025 data?

The national mortgage delinquency rate is 3.53%, up 5 basis points from January and 19 basis points from the previous year.

How many properties are currently delinquent or in foreclosure according to ICE's February 2025 report?

2,123,000 properties are either 30+ days past due or in foreclosure, showing an increase of 32,000 from the previous month.

What impact did the Los Angeles wildfires have on mortgage delinquencies in February 2025?

The wildfires caused 4,100 Los Angeles homeowners to become past due on their mortgages, up from 700 in January.

How has FHA mortgage performance affected overall delinquency numbers in ICE's February 2025 report?

FHA mortgages accounted for 90% of the 131,000 year-over-year increase in delinquencies, despite representing less than 15% of all active mortgages.

What are the current foreclosure trends according to ICE's February 2025 data?

Foreclosure starts decreased 17% monthly but increased 34% yearly, while foreclosure sales dropped 11% monthly but rose 7% yearly, influenced by resumed VA foreclosure activity.