TABLE OF CONTENT
PRESS RELEASES
• U.S. Foreclosure Activity Sees Modest Increase in February 2025
• U.S. Foreclosures Declined in 2024, Signaling Market Stabilization
• Federal Agencies Release 2024 Shared National Credit Program Review Highlighting Credit Quality Trends
• FDIC Publishes February 2025 CRA Compliance Ratings for U.S. Banks
• FDIC Withdraws Four Long-Standing Proposed Rules from Consideration
• FDIC Delays Compliance Deadline for New Signage and Advertising Rules
• Mortgage Rates Show Little Movement Amid Market Caution
• Mortgage Rates Hold Steady Amid Market Uncertainty
• Freddie Mac to Sell $290 Million in Non-Performing Loans to Reduce Taxpayer Risk
• Freddie Mac Prices $759 Million Reperforming Loan Securitization
• Fannie Mae Reports Decline in Consumer Housing Sentiment – First Year-Over-Year Drop Since 2023
• Fannie Mae Announces March 2025 Sale of $757 Million in Reperforming Loans
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U.S. Foreclosure Activity Sees Modest
Increase in February 2025
ATTOM’s February 2025 U.S. Foreclosure Market Report reveals a slight increase in foreclosure filings, suggesting a continued adjustment toward pre-pandemic norms. The report states that 32,938 properties across the United States had foreclosure filings—comprising default notices, scheduled auctions, or bank repossessions. This figure marks a 5% increase from January 2025 and a 6% rise from February 2024.
Despite the uptick, experts emphasize that this level of foreclosure activity remains historically low and well below the peaks seen during the housing crisis. The current numbers reflect a gradual return to standard market operations, as lenders resume filings previously paused due to pandemicrelated protections.
States with the highest foreclosure rates in February included Illinois (one in every 2,271 housing units), New Jersey, Delaware, Indiana, and Florida. At the metro level, cities like Chicago, New York City, Philadelphia, and Houston topped the list for the most foreclosure starts, showing concentrated activity in major population centers.
The report also noted that lenders repossessed 3,755 properties through completed foreclosures (REOs), a 4% increase from January. While this figure is modest, it continues a trend of incremental growth that may carry into the rest of 2025.
ATTOM’s Chief Executive Officer, Rob Barber, noted that this increase is not a cause for alarm, but rather a sign of a rebalancing housing market as lending practices normalize and borrower protections ease. Homeowners with equity and strong job markets are still faring well overall.
For real estate professionals, investors, and policymakers, monitoring these month-over-month changes provides a clear lens into the evolving dynamics of the U.S. housing market and potential REO property opportunities.
U.S. Foreclosures Declined in 2024, Signaling Market Stabilization
According to a new report from ATTOM, foreclosure activity in the United States declined in 2024, pointing to a period of market stabilization and improved housing conditions following the volatility of the pandemic era.
The year-end report showed that 357,062 U.S. properties had foreclosure filings in 2024, which includes default notices, scheduled auctions, and bank repossessions. This represents a 28% decrease from 2023 and a strong indication that foreclosure rates are aligning closer to pre-pandemic norms.
The report highlights that lenders repossessed 42,098 properties through completed foreclosures (REOs) in 2024, down 20% year-over-year, showing restraint in lender activity and a broader trend toward loss mitigation and homeowner assistance. While some markets saw modest increases, overall foreclosure activity declined across most states.
Among the states with the highest foreclosure rates in 2024 were New Jersey, Illinois, and Delaware, while major metro areas such as Chicago, Philadelphia, and Miami also recorded significant foreclosure volumes. However, many of these markets experienced year-over-year declines, suggesting progress in economic recovery and mortgage forbearance transitions.
ATTOM analysts attribute the decline to a combination of strong employment, high homeowner equity, and ongoing lender forbearance efforts. These factors have helped homeowners avoid defaults, even as interest rates and affordability challenges persist.
For investors and real estate professionals, this trend offers insight into shifting opportunities in the REO market. Fewer distressed properties mean less inventory for traditional foreclosure buyers but also reflect a healthier housing market overall.
�� As foreclosure activity stabilizes, keeping an eye on localized data and emerging trends is essential for staying ahead.
Federal Agencies Release 2024 Shared National Credit Program Review
Highlighting Credit Quality Trends
The Federal Deposit Insurance Corporation (FDIC), along with the Federal Reserve and the Office of the Comptroller of the Currency (OCC), released the annual Shared National Credit (SNC) Program Review for 2024. The report evaluates the health and risk levels of large syndicated loans, which are credit exposures of $100 million or more that are shared by multiple financial institutions.
Key findings from the 2024 review show that while the overall credit quality in the SNC portfolio remains acceptable, credit risk is rising in certain sectors, especially in leveraged lending, commercial real estate, and sectors sensitive to high interest rates. The report points to a modest increase in criticized loans those classified as substandard, doubtful, or loss which now total $416 billion, or 7.4% of the SNC portfolio.
According to the review, most of the risk remains concentrated in a relatively small number of borrowers and industries that are vulnerable to ongoing economic challenges, including inflation, slower GDP growth, and tightening credit markets. The agencies emphasized the importance of strong risk management practices and stress testing by financial institutions to ensure resilience in a shifting economic landscape.
The SNC Program, initiated in 1977, helps federal regulators assess the systemic risk and underwriting standards across large syndicated lending. The agencies used this year’s review to reaffirm the need for consistent monitoring, conservative underwriting, and realistic borrower assessments especially in times of heightened economic uncertainty.
This annual review plays a critical role in maintaining transparency and accountability in large-scale credit exposures, promoting a stable and sound banking system.
�� Read More: Agencies Issue 2024 Shared National Credit Program Review
FDIC Publishes February 2025 CRA
Compliance Ratings for U.S. Banks
The Federal Deposit Insurance Corporation (FDIC) has released its monthly list of state-chartered banks that were evaluated for compliance with the Community Reinvestment Act (CRA) in February 2025. The list includes 75 banks nationwide, with each institution receiving a rating that reflects how well it meets the credit needs of the communities it serves, particularly in low- and moderate-income areas.
The CRA, enacted in 1977, is a landmark law designed to encourage financial institutions to help meet the needs of borrowers in all segments of their communities, including underserved populations. These evaluations are conducted regularly and are based on performance in lending, investment, and service.
Of the 75 banks evaluated in February, 10 institutions received a rating of “Outstanding,” while most others received a rating of “Satisfactory.” Only a few received ratings below these levels, indicating room for improvement. The FDIC uses these ratings to hold banks accountable and to ensure transparency in community engagement and lending practices.
The published list includes each bank's name, location, and performance rating. It also provides information about how the public can submit comments or view previous evaluations. The FDIC encourages public input, especially from community members directly impacted by local lending practices.
FDIC Chairman Martin J. Gruenberg emphasized the importance of the CRA in holding financial institutions accountable for equitable lending. “The CRA remains a critical tool for encouraging banks to be responsive to the credit needs of their communities,” he stated.
�� Read More: FDIC Issues List of Banks Examined for CRA Compliance –February 2025
FDIC Withdraws Four Long-Standing
Proposed Rules from Consideration
In a strategic move to streamline its regulatory focus, the Federal Deposit Insurance Corporation (FDIC) has officially withdrawn four proposed rules that have remained unresolved for years. The decision, approved by the FDIC Board of Directors, reflects a shift toward prioritizing active and timely rulemaking that aligns with current financial conditions and supervisory needs.
The withdrawn proposals include:
Large Bank Deposit Insurance Determination Modernization (2008)
Bank Merger Transaction Rule Amendments (2008)
Brokered Deposits and Interest Rate Restrictions Clarifications (2011)
Voluntary Liquidation Procedures for State Nonmember Banks (2016)
These proposed rules were initially introduced to address concerns such as deposit insurance processing efficiency during bank failures, merger transparency, and updated brokered deposit standards. However, none advanced to final implementation.
FDIC Chairman Martin J. Gruenberg explained that while the issues raised by the proposals were important at the time, the banking landscape has evolved significantly, and new regulatory strategies are needed. “Clearing the slate of outdated proposals allows the agency to focus on more relevant, timely initiatives,” Gruenberg stated.
The withdrawal of these long-standing proposals also reflects the FDIC’s desire to increase regulatory clarity and transparency, minimizing confusion for financial institutions uncertain about pending or overlapping rules.
By eliminating these inactive items from its regulatory agenda, the FDIC reaffirms its commitment to a modern, risk-based supervisory framework that aligns with today’s financial realities especially as the industry adapts to ongoing economic pressures and digital innovation.
FDIC Delays Compliance Deadline for New Signage and Advertising Rules
The Federal Deposit Insurance Corporation (FDIC) has announced a delay in the compliance date for specific provisions of its final rule related to official signage and advertising requirements for insured institutions. Originally set to take effect on January 1, 2025, the compliance deadline for certain complex provisions will now be extended to January 1, 2026.
The FDIC’s final rule, adopted in December 2023, aimed to modernize how banks communicate deposit insurance coverage to consumers across digital and physical platforms. This includes changes to the display and use of the FDIC’s official sign and requirements for advertising statements in digital banking environments, mobile apps, websites, and third-party platforms.
The decision to delay was based on stakeholder feedback expressing the need for additional time to implement technological and operational changes, especially for institutions with extensive digital operations or partnerships with fintech providers. The FDIC emphasized that the extension applies only to the more technologically complex aspects of the rule, while other parts remain on track for the original implementation date.
FDIC Chairman Martin J. Gruenberg stated, “This measured delay balances the need to modernize consumer protections with the operational realities faced by institutions in the evolving digital landscape.”
The FDIC will continue working with insured institutions to ensure smooth implementation and will provide further guidance in the coming months.
This move underscores the agency’s commitment to consumer transparency and protection in a rapidly digitizing financial system, while also acknowledging the operational challenges banks face in aligning with new regulatory standards.
�� Read More: FDIC Approves Delay of Compliance Date for Certain Provisions
Mortgage Rates Show Little Movement
Amid
Market Caution
Freddie Mac (OTCQB: FMCC) announced that mortgage rates remained relatively flat in the latest Primary Mortgage Market Survey®, indicating a period of stabilization and cautious optimism among borrowers and real estate professionals. The 30-year fixed-rate mortgage averaged 6.64%, a small increase from 6.63% the previous week.
Meanwhile, the 15-year fixed-rate mortgage edged slightly lower to 5.90%, down from 5.94%. This minimal week-over-week movement reflects the market’s tempered response to recent economic data and Federal Reserve commentary.
According to Sam Khater, Freddie Mac’s Chief Economist, “Mortgage rates have not moved significantly in recent weeks, which is good news for homebuyers looking for predictability in a volatile market.” While affordability challenges persist, this consistency may help boost homebuyer confidence heading into the spring season.
Key Highlights:
30-Year Fixed Mortgage: 6.64% (up slightly from 6.63%)
15-Year Fixed Mortgage: 5.90% (down from 5.94%)
Rate changes remain minimal, signaling market pause
Though mortgage rates remain historically elevated, this period of relative rate stability may offer a window of opportunity for homebuyers and homeowners considering refinancing. Analysts note that future rate movements will depend on inflation data, job reports, and the Federal Reserve’s policy direction.
Freddie Mac’s weekly survey remains a critical benchmark for understanding borrower sentiment and anticipating market behavior. With housing inventory still tight, any signs of stability can help support more informed decision-making.
FDIC Delays Compliance Deadline for
New Signage
and Advertising Rules
Freddie Mac (OTCQB: FMCC) has reported that U.S. mortgage rates remained virtually unchanged this week, maintaining relative stability after several consecutive weeks of movement. According to the latest Primary Mortgage Market Survey®, the 30-year fixed-rate mortgage averaged 6.33%, just slightly up from 6.32% the previous week.
The 15-year fixed-rate mortgage experienced a marginal increase as well, inching up to 5.76% from 5.75%. These minimal shifts reflect a moment of calm in an otherwise volatile interest rate environment, giving homebuyers and real estate professionals a chance to reassess strategies.
Sam Khater, Chief Economist at Freddie Mac, noted that “this week’s data shows mortgage rates are finding some consistency,” a development that may help boost buyer confidence during the early spring housing season.
Key Highlights:
30-Year Fixed Mortgage: 6.33% (up from 6.32%)
15-Year Fixed Mortgage: 5.76% (up from 5.75%)
Minimal rate changes indicate short-term market stability
While the housing market still faces challenges such as limited inventory and affordability pressures, the recent rate plateau may help stimulate buyer activity and refinancing interest. Many industry experts view this consistency as an opportunity for prospective buyers to make more confident decisions.
Freddie Mac’s survey remains a closely followed industry benchmark, offering valuable insights into broader economic trends such as inflation, Federal Reserve policy, and consumer confidence.
With the market in a holding pattern, real estate professionals and homebuyers alike will be watching closely for the next economic signal to determine where mortgage rates are headed next.
Freddie Mac to Sell $290 Million in Non-
Performing Loans to Reduce Taxpayer Risk
Freddie Mac (OTCQB: FMCC) has announced the sale of approximately $290 million in non-performing loans (NPLs) from its mortgage investment portfolio. This latest transaction, referred to as EXPO 2025-NPL1, is part of the company’s ongoing strategy to reduce credit risk exposure and shift default risk away from U.S. taxpayers.
The NPL sale includes loans that have been delinquent for an extended period and are being marketed in collaboration with J.P. Morgan Securities LLC as the exclusive advisor. The pool consists of residential single-family mortgages and is expected to close in May 2025.
The loans will be sold to the highest bidder, subject to Freddie Mac’s servicing guidelines and community stabilization requirements. These requirements are designed to promote sustainable homeownership and neighborhood stability ensuring that buyers of the loans prioritize foreclosure alternatives like loan modifications.
Key Highlights:
Total Unpaid Principal Balance: ~$290 million
Sale Name: EXPO 2025-NPL1
Loan Type: Delinquent single-family residential mortgages
Settlement Date: Expected May 2025
Advisory Firm: J.P. Morgan Securities LLC
This sale aligns with Freddie Mac’s broader mission to responsibly manage its loan portfolio, support distressed borrowers, and limit taxpayer exposure. The company has been conducting such sales since 2014, having sold over $9 billion in NPLs to date.
Freddie Mac continues to explore ways to enhance transparency and foster positive borrower outcomes, including detailed post-sale reporting and ongoing performance monitoring.
Freddie Mac Prices $759 Million
Reperforming Loan Securitization
Freddie Mac (OTCQB: FMCC) has announced the pricing of its latest Seasoned Credit Risk Transfer Trust (SCRT 2024-HBI), a $759 million securitization backed by a pool of reperforming loans (RPLs). These loans are residential mortgages that were previously delinquent but have been brought current, often with the help of loan modifications.
The transaction is expected to settle on March 21, 2025, and includes both guaranteed senior and unguaranteed subordinate securities. The loans involved are serviced according to requirements designed to prioritize borrower retention and stability, including programs that avoid unnecessary foreclosures.
This securitization, under the SCRT program, continues Freddie Mac’s effort to reduce taxpayer risk by transferring credit risk to private investors. The program is part of a broader initiative to maintain market liquidity while managing exposure to potential defaults.
Key Transaction Details:
Total securitization: ~$759 million
Trust Name: SCRT 2024-HBI
Collateral: Seasoned, reperforming residential mortgages
Closing Date: March 21, 2025
Freddie Mac acquired the underlying loans either from its own portfolio or via purchase agreements and now services them through qualified servicing partners. The performance of these loans is monitored under strict guidelines to ensure borrower success and mitigate future delinquencies.
These types of securitizations help maintain housing market stability and broaden the investor base for mortgage-backed securities. They also support Freddie Mac’s goal of transferring more credit risk away from U.S. taxpayers while continuing to support access to affordable housing.
Fannie Mae Reports Decline in Consumer Housing
Sentiment – First Year-Over-Year Drop Since 2023
Fannie Mae’s latest Home Purchase Sentiment Index® (HPSI) report reveals a notable decline in consumer confidence regarding the U.S. housing market. For the first time since 2023, the HPSI decreased year over year, reflecting growing pessimism around homebuying affordability and economic uncertainty.
The index dropped 2.4 points in February 2025 to a reading of 68.8, with only 17% of respondents saying it’s a good time to buy a home a historically low figure. Additionally, 83% of consumers believe it’s a bad time to buy, citing high home prices, limited inventory, and fluctuating mortgage rates as key concerns.
Key Highlights:
HPSI fell to 68.8 in February 2025, down from 71.2 in February 2024. 17% of consumers say it’s a good time to buy; 83% say it’s a bad time. Expectations for mortgage rate decreases have also declined among consumers.
Despite challenges, the percentage of consumers saying it’s a good time to sell remained steady.
Doug Duncan, Fannie Mae Senior Vice President and Chief Economist, notes that high home prices and limited affordability are weighing heavily on sentiment. Buyers are hesitant, while sellers are holding off, leading to reduced market activity.
This year-over-year dip in housing confidence underscores the persistent affordability crisis and indicates continued pressure on the housing market. As economic policy uncertainty lingers, homebuyers and sellers remain cautious about entering the market.
The HPSI is derived from six survey questions that gauge consumer attitudes about housing market conditions and expectations for the future.
Fannie Mae Announces March 2025 Sale of $757 Million in Reperforming Loans
Fannie Mae has announced the sale of a reperforming loan pool totaling $757.2 million, as part of its continued effort to reduce the size of its retained mortgage portfolio in alignment with the Federal Housing Finance Agency’s (FHFA) goals. This sale, labeled RPL 2025-1, includes loans that were previously delinquent but have since been brought current by borrowers.
The pool comprises approximately 6,900 loans, and the winning bidder of the pool was Pacific Investment Management Company LLC (PIMCO). The transaction is expected to close on May 22, 2025.
Key Deal Highlights:
Total Unpaid Principal Balance (UPB): $757.2 million
Number of Loans: Approximately 6,900 Awarded to: PIMCO
Expected Closing Date: May 22, 2025
Servicing: These loans will be serviced by the buyer or a designated servicer post-closing.
All buyers are required to honor existing loss mitigation efforts, including forbearance and modification plans, and to comply with the FHFA’s requirements designed to promote borrower retention and avoid unnecessary foreclosures.
The sale of reperforming loans allows Fannie Mae to manage credit risk while continuing to support sustainable homeownership. These transactions are part of Fannie Mae’s broader strategy to enhance the liquidity of its balance sheet, reduce taxpayer risk, and help ensure longterm housing market stability.
Fannie Mae will continue to pursue loan sales like these while maintaining a strong focus on responsible servicing practices and compliance with federal guidelines.
�� Read More: Fannie Mae Announces Sale of Reperforming Loans –March 2025
