In the first quarter of 2023, the share one-to-four family residential mortgage loans entering the foreclosure process in the U.S. was 0.14 percent. Following the coronavirus pandemic outbreak in 2020, mortgage delinquency rates surged, but foreclosures remained at record low levels due to The Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
Share of mortgages entering foreclosure processes in the United States from 1st quarter 2018 to 3rd quarter 2023
Characteristic
Share of loans
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Covers one- to four-family residential non farm mortgage
loans. Mortgage origination is the making of a new mortgage, including all steps taken by a lender to attract and qualify a borrower, process the mortgage loan, and place it on the lender’s books. Based on the national Delinquency Survey which covers 45 million loans on one- to four unit properties, representing between 80 to 85 percent of all 'first lien' residential mortgage loan outstanding. Loans surveyed were reported by approximately 120 lenders, including mortgage bankers, commercial banks and thrifts. Percentage of loans entering foreclosure process at year-end, not seasonally adjusted.
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Mortgage Bankers Association. (November 9, 2023). Share of mortgages entering foreclosure processes in the United States from 1st quarter 2018 to 3rd quarter 2023 [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/206035/rate-of-loans-entering-foreclosure-process-in-the-us-since-1990/
Mortgage Bankers Association. "Share of mortgages entering foreclosure processes in the United States from 1st quarter 2018 to 3rd quarter 2023." Chart. November 9, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/206035/rate-of-loans-entering-foreclosure-process-in-the-us-since-1990/
Mortgage Bankers Association. (2023). Share of mortgages entering foreclosure processes in the United States from 1st quarter 2018 to 3rd quarter 2023. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/206035/rate-of-loans-entering-foreclosure-process-in-the-us-since-1990/
Mortgage Bankers Association. "Share of Mortgages Entering Foreclosure Processes in The United States from 1st Quarter 2018 to 3rd Quarter 2023." Statista, Statista Inc., 9 Nov 2023, https://www.statista.com/statistics/206035/rate-of-loans-entering-foreclosure-process-in-the-us-since-1990/
Mortgage Bankers Association, Share of mortgages entering foreclosure processes in the United States from 1st quarter 2018 to 3rd quarter 2023 Statista, https://www.statista.com/statistics/206035/rate-of-loans-entering-foreclosure-process-in-the-us-since-1990/ (last visited July 22, 2024)
Share of mortgages entering foreclosure processes in the United States from 1st quarter 2018 to 3rd quarter 2023 [Graph], Mortgage Bankers Association, November 9, 2023. [Online]. Available: https://www.statista.com/statistics/206035/rate-of-loans-entering-foreclosure-process-in-the-us-since-1990/
