In the second quarter of 2024, the share of mortgage loans in the foreclosure process in the U.S. decreased slightly to 0.43 percent. Following the outbreak of the coronavirus crisis, mortgage delinquency rates spiked to the highest levels since the Subprime mortgage crisis (2007-2010). To prevent further impact on homeowners, Congress passed the CARES Act that provides foreclosure protections for borrowers with federally backed mortgage loans. As a result, the foreclosure rate fell to historically low levels.
Share of loans in foreclosure processes in the United States from 2000 to 2nd quarter 2024
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 in the foreclosure processes at year-end, not seasonally adjusted.
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Mortgage Bankers Association. (August 15, 2024). Share of loans in foreclosure processes in the United States from 2000 to 2nd quarter 2024 [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/205983/total-loans-in-foreclosure-process-in-the-us-since-1990/
Mortgage Bankers Association. "Share of loans in foreclosure processes in the United States from 2000 to 2nd quarter 2024." Chart. August 15, 2024. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/205983/total-loans-in-foreclosure-process-in-the-us-since-1990/
Mortgage Bankers Association. (2024). Share of loans in foreclosure processes in the United States from 2000 to 2nd quarter 2024. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/205983/total-loans-in-foreclosure-process-in-the-us-since-1990/
Mortgage Bankers Association. "Share of Loans in Foreclosure Processes in The United States from 2000 to 2nd Quarter 2024." Statista, Statista Inc., 15 Aug 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/205983/total-loans-in-foreclosure-process-in-the-us-since-1990/
Mortgage Bankers Association, Share of loans in foreclosure processes in the United States from 2000 to 2nd quarter 2024 Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/205983/total-loans-in-foreclosure-process-in-the-us-since-1990/ (last visited November 10, 2024)
Share of loans in foreclosure processes in the United States from 2000 to 2nd quarter 2024 [Graph], Mortgage Bankers Association, August 15, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/205983/total-loans-in-foreclosure-process-in-the-us-since-1990/
