Skip to main content

Foreclosure Completion Rates Drops by 50 Percent

Phil Hall
Jun 13, 2019
Photo credit: Getty Images/claffra

Foreclosure filings were reported on 56,152 residential properties in May, according to new statistics from ATTOM Data Solutions, a one percent uptick from the previous month and 22 percent drop from one year ago. May marked the 11th consecutive month with an annual decline in foreclosure filings.
 
Lenders completed foreclosures on 10,634 residential properties in May, down four percent from April and a 50 percent plummet from one year earlier. May marked the seventh consecutive annual decline for completed foreclosures. Every state but Vermont recorded a decline in foreclosure completions in May, with Michigan and Massachusetts posting the most dramatic decreases at 84 percent and 74 percent, respectively.
 
Lenders started the foreclosure process on 30,554 residential properties in May, a less than one percent increase from April and a nine percent drop from May 2018. May marked the fourth consecutive month with an annual decline in foreclosure starts.
 
“We are continuing to see a downward trend with overall foreclosure activity, especially in completed foreclosures declining year after year,” said Todd Teta, chief product officer at ATTOM Data Solutions. “However, in May 2019 we did see an uptick in the number of states increasing in foreclosure starts going from 17 to 23 states rising annually, and again Florida is bucking the national trend with a continuous annual increase.”
Foreclosure filings were reported on 56,152 residential properties in May, according to new statistics from ATTOM Data Solutions

 
Published
Jun 13, 2019
KBRA Assigns Preliminary Ratings To SEMT 2021-6

Pool Of 497 First-Lien Loans Combined Have A Principal Balance Of Nearly $449M

Industry News
Sep 16, 2021
Fugo Appoints Bahlman As VP, Client Relations & Sales

Brings 19 Years of Experience To Texas-Based Back-Office Support Company

Industry News
Sep 16, 2021
Envoy Mortgage Expands To Atlanta

Envoy Mortgage lender expanded its Southeast operations to Atlanta, GA.

Industry News
Sep 15, 2021
FHFA Suspends Controversial PSPA Amendments

Today, the FHFA will be suspending controversial provisions added to the Preferred Stock Purchase Agreement (PSPA) on January 14, 2021.

Industry News
Sep 15, 2021
Covius Holdings To Acquire Nationwide Title Clearing

All 670 NTC Employees, Including Senior Management, Will Join Covius

Industry News
Sep 14, 2021
MBA Appoints AVP Of Diversity, Equity, & Inclusion

Promotes Amber Lawrence From Position As Associate Director Of Career Development Programs

Industry News
Sep 14, 2021