Due
to
the
debilitating

wildfires
in

Los
Angeles
earlier
this
year,
ICE
says
4,100
homeowners
in
Los
Angeles
are
now
past
due
on
their
mortgages,
up
from
700
in
January,
with
daily
performance
data
suggesting
that
number
could
edge
higher
in
March.

Foreclosure
starts
(-17%)
eased
in
February
as
the
U.S.
saw
33,000
foreclosure
starts,
but
are
up
from
the
same
time
last
year
as


VA
foreclosure
activity
resumed.
Starts
saw
a
year-over-year
change
of
34.53%.

The
total
U.S.
foreclosure
pre-sale
inventory
rate
was
0.39%
during
February,
a
month-over-month
change
of
2.16%
and
a
year-over-year
change
of
-1.99%.

Prepayment
activity
(SMM)
fell
to
0.46%
in
February,
the
lowest
level
in
a
year,
on
higher
rates
and
a
seasonal
dip
in
home
sales.
Month-over-month,
SMM
saw
a
change
of
-5.09%
and
year-over-year,
a
change
of
8.71%.

Foreclosure
sales
were
5,600
during
February,
which
is
a
month-over-month
change
of
-11.40%
and
a
year-over-year
change
of
-7.03%.

A
total
of
1,913,000
properties
were
30
or
more
days
past
due,
but
not
in
foreclosure,
a
month-over-month
change
of
28,000
and
a
year-over-year
change
of
131,000.
However,
2,123,000
properties
are
30
or
more
days
past
due
or
in
foreclosure,
a
month-over-month
change
of
32,000
and
a
year-over-year
change
of
130,000.

The
number
of
properties
that
are
90
or
more
days
past
due,
but
not
in
foreclosure
measured
at
528,000,
a
month-over-month
change
of
-12,000,
and
a
year-over-year
change
of
69,000.

A
more
in-depth
review
of
this
data
will
be
released
on
April
7
in
ICE’s
Mortgage
Monitor
report.