Skip to main content

Foreclosure Activity at 12-Year Low

Phil Hall
May 11, 2017
Residential foreclosure activity last month dropped to its lowest level since November 2005

Residential foreclosure activity last month dropped to its lowest level since November 2005, according to new statistics released by ATTOM Data Solutions.
 
There were 77,049 foreclosure filings—including default notices, scheduled auctions and bank repossessions—reported in April, a seven percent drop from the previous month and a 23 percent plummet from April 2016. One in every 1,723 housing units had a foreclosure filing in April.
 
During April, 34,085 residential properties started the foreclosure process, a six percent decline from March and a 22 percent year-over-year decline. Lenders completed foreclosure on 25,990 residential properties in April, which was nine percent lower than March’s level and 22 percent below the April 2016 level—it was also the lowest level since February 2015.
 
New Jersey had the highest foreclosure rate among the states, with one in every 562 housing units burdened by a foreclosure filing), while that state’s ailing seaside resort Atlantic City had the highest metro foreclosure rate with one in every 237 housing units.
 
“Foreclosure activity continued to search for a new post-recession floor in April thanks in large part to the above-par performance of mortgages originated in the past seven years,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “Meanwhile we are seeing an elevated share of repeat foreclosures on homeowners who often fell into default several years ago but have not been able to avoid foreclosure despite the housing recovery.” 
Residential foreclosure activity last month dropped to its lowest level since November 2005, according to new statistics released by ATTOM Data Solutions

 
Biden Appoints Sandra Thompson As Acting Director Of The FHFA

The White House appointed Sandra L. Thompson as acting director of the Federal Housing Finance Agency (FHFA), effective immediately. Her statement reveals that a permanent director will be confirmed in December.

Regulation and Compliance
Jun 24, 2021
Supreme Court Gives Biden Full Control Over FHFA

The U.S. Supreme Court gave President Joe Biden the authority to remove the head of the Federal Housing Finance Agency (FHFA) while dismissing claims from shareholders of Fannie Mae and Freddie Mac.

Industry News
Jun 23, 2021
Ocwen Financial To Acquire Reverse Mortgage Servicing Platform

Ocwen Financial Corporation's wholly-owned subsidiary, PHH Mortgage Corporation will acquire RMS' reverse mortgage servicing platform.

Industry News
Jun 18, 2021
UniteCT Emergency Rental Assistance Succeeds

Thanks to the successful launch of the UniteCT program, emergency rental assistance funds are helping Connecticut residents maintain housing.

Industry News
Jun 17, 2021
Angel Oak Mortgage Announces Initial Public Offering

Angel Oak Mortgage announced its initial public offering of 7,200,000 shares of its common stock at $19 per share.

Industry News
Jun 17, 2021
Mortgage Apps Rebound After Three Consecutive Weeks Of Declines

The Mortgage Bankers Association reported the first increase in mortgage applications after a three consecutive weeks on declines.

Industry News
Jun 17, 2021