ICE + Black Knight | The Ultimate Connection

Website Migration

The ICE First Look at September 2023 Mortgage Data

ICE First Look at Monthly Mortgage Performance: Delinquencies Rose in September While Foreclosure Activity Remained Muted

  • The national delinquency rate rose to 3.29% in September, up 12 basis points (BPS) from August and +13BPS year over year, marking only the second – and largest – annual increase in the past 2.5 years
  • Despite the rise, the delinquency rate is still 71BPS below the level of pre-pandemic September 2019
  • Loans 30 days past due rose by 48.8K (+5.1%) – marking the fourth consecutive monthly rise – while the 60-day delinquent population extended its own streak of increases (+8.7K; +3.0%) to six months
  • At the national level, serious delinquencies (90+ days past due) rose by 7K to 455K, but remain 6.7% below September 2019 levels
  • While overall delinquencies have risen, the number of loans in active foreclosure fell to 214K in September, its lowest point since March 2022 and some 25% below 2019 pre-pandemic levels
  • Foreclosure starts also declined, falling by -20.4% in the month to 25.4K, with completed sales down 8% from the month prior
  • Prepay activity (measured as single-month mortality) dropped to 0.45% under continued pressure from seasonal homebuying patterns confounded by interest rates north of 7%, and is down -26% year over year

ATLANTA and NEW YORK — October 23, 2023 — Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, reports the following “first look” at September 2023 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

*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 McDash 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://www.blackknightinc.com/data-reports/ by November 4, 2023.

For more information about gaining access to ICE’s loan-level database, please send an email to Mortgage.Monitor@bkfs.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 in ICE’s Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the SEC on February 2, 2023.

September 2023 Charts

Subscribe to Our Complimentary Monthly Report

Media Contacts

Mitch Cohen
704.890.8158
mitch.cohen@bkfs.com​​​

Katia Gonzalez
678.981.3882
katia.gonzalez@ice.com