ICE First Look at Mortgage Performance

Delinquencies Improve and Foreclosures Drop as Prepayments Rise Modestly

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, reports the following “first look” at February 2024 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

Data as of Feb. 29, 2024

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.34%
Month-over-month change: -1.29%
Year-over-year change: -3.24%

Total U.S. foreclosure pre-sale inventory rate: 0.40%
Month-over-month change: -3.49%
Year-over-year change: -13.22%

Total U.S. foreclosure starts: 25,000
Month-over-month change -27.67%
Year-over-year change: -16.15%

Monthly prepayment rate (SMM): 0.42%
Month-over-month change: 6.26%
Year-over-year change: 20.05%

Foreclosure sales: 6,000
Month-over-month change: -9.50%
Year-over-year change: -15.82%

Number of properties that are 30 or more days past due, but not in foreclosure: ​ 1,782,000
Month-over-month change: -21,000
Year-over-year change: -29,000

Number of properties that are 90 or more days past due, but not in foreclosure: 459,000
Month-over-month change: -11,000
Year-over-year change: -103,000

Number of properties in foreclosure pre-sale inventory: 211,000
Month-over-month change: -7,000
Year-over-year change: -28,000

Number of properties that are 30 or more days past due or in foreclosure: 1,993,000
Month-over-month change: -28,000
Year-over-year change: -57,000

Top 5 States by Non-Current* Percentage
Mississippi:	7.87%
Louisiana:	7.72%
Alabama:	5.79%
Arkansas:	5.15%
Indiana:	5.11%
Bottom 5 States by Non-Current* Percentage
Montana:	2.22%
California:	2.21%
Idaho:	2.14%
Washington:	2.06%
Colorado: