MBA Says Probability of a Significant Foreclosure Surge is Minimal

A recent “Chart of the Week” from the Mortgage Bankers Association illustrates that the expiration of pandemic-related foreclosure moratoriums led to a modest increase in foreclosure starts from the record lows maintained over the past two years. Citing data from their recent National Delinquency Survey, they said at 0.19%, the foreclosure starts rate remains below the quarterly average of 0.41% dating back to 1979. The percentage of loans in the foreclosure process also rose in Q1 2022 to 0.53%. In addition they report that the delinquency rate for mortgage loans on one‐to‐four‐unit residential properties fell to a seasonally adjusted rate of 4.11% of all loans outstanding at the end of Q1, 2022. Continue reading HERE...