ATTOM released its Q1 2022 U.S. Foreclosure Market Report, which showed 78,271 U.S. properties with a foreclosure filing during the first quarter, up 39 percent from the previous quarter and up 132 percent from a year ago. The report also showed 33,333 U.S. properties with foreclosure filings in March, up 29 percent from the previous month and up 181 percent from a year ago — the 11th consecutive month with a year-over-year increase in U.S. foreclosure activity. “Foreclosure activity has continued to gradually return to normal levels since the expiration of the government’s moratorium, and the CFPB’s enhanced mortgage servicing guidelines,” said Rick Sharga, executive vice president of market intelligence for ATTOM. “But even with the large year-over-year increase in foreclosure starts and bank repossessions, foreclosure activity is still only running at about 57% of where it was in Q1 2020, the last quarter before the government enacted consumer protection programs due to the pandemic.” ATTOM reported 50,759 U.S. properties started the foreclosure process in the first quarter, up 67 percent from the previous quarter and up 188 percent from a year ago. Nationwide, one in every 1,795 housing units had a foreclosure filing in the first quarter.
Source: The Mortgage Bankers Association