New York City Foreclosure Activity on the Rise – NMP Skip to main content

New York City Foreclosure Activity on the Rise

Oct 10, 2017
Four years after Superstorm Sandy devastated the coastal properties in the Northeast

Foreclosures in New York City saw a 79 percent year-over-year increase in the third quarter, according to new data from PropertyShark, which also reported a 145 percent year-over-year spike in the Bronx, a 118 percent year-over-year surge in Brooklyn.
 
What do these percentages mean? The Bronx saw 247 first-time foreclosures in the third quarter, but only 101 in the third quarter of 2016; PropertyShark noted this activity was concentrated in the eastern half of the borough. In Brooklyn, the 205 first-time foreclosures in the third quarter was up from 94 one year earlier, and PropertyShark also noted concentrated activity in a relative handful of communities. The greatest foreclosure leap was in New York City’s smallest borough: Staten Island recorded 105 first-time foreclosures in the third quarter, compared to 22 one year earlier—a 246 percent year-over-year skyrocket.
 
Nonetheless, the third quarter activity was below the second quarter 2017 peak of 911 new foreclosures spread across the city’s five boroughs, which represented a six percent quarter-over-quarter decline.
 
About the author
Published
Oct 10, 2017
Credit-Score Competition Could Expand Beyond FICO, VantageScore

CHLA sees new Fannie and Freddie score disclosures as a first step toward more competition, while lenders are already finding different borrower outcomes under today's models

Mortgage AI Survey Finds Monitoring Gap At Smaller Lenders

Only 40% of smaller lenders surveyed reported ongoing AI monitoring, compared with 80% of larger lenders, as a new state examiner guide details the records regulators may request

Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

ACES Targets Loans Traditional QC Samples May Miss

New population-testing technology applies lender-defined rules across selected origination and servicing records, then directs flagged files to human reviewers

Sep 21, 2026
The Risk Your Credit Score Can't See

Place-based market risk can produce dramatically different default outcomes among borrowers with nearly identical credit profiles

Sep 17, 2026
Trump Taps FHA Insider Matt Jones To Lead Agency

The former MBA policy executive would oversee FHA underwriting, servicing, and credit-score changes that directly affect lenders and borrowers