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Foreclosure Data Tracker - Financial Regulation

(Last updated September 21, 2020.)

The Office of the Commissioner of Financial Regulation (OCFR) is responsible for the administration of online foreclosure notice and registration systems. Maryland law requires lenders and secured parties to submit certain information to OCFR through these systems during the residential foreclosure process.

The information in the foreclosure systems is used internally by OCFR to assist in carrying out its supervisory and enforcement powers, conducting outreach activities, and analyzing foreclosure trends; and certain information is also available to county and municipal governments to aid in property nuisance abatement (i.e. code enforcement or law enforcement) and other responsibilities under the purview of local jurisdictions. Pursuant to Maryland law, the foreclosure systems are not available for public use (except with regard to certain property specific information under certain criteria) and the records contained therein are only accessible to authorized parties.

VIEW FORECLOSURE DATA

OCFR is publishing aggregated data from the foreclosure systems to inform public policy as it relates to the economic impact of the COVID-19 health emergency in Maryland. Please contact Foreclosure Administration staff at FinReg.ForeclosureSystems@maryland.gov if you have questions or need assistance.

DESCRIPTION OF DATA

Notice of Intent to Foreclose (NOI)

A Notice of Intent to Foreclose, or NOI, is a written notice that a lender or loan servicer is required to mail to a borrower when the lender or servicer intends to start the foreclosure process. NOI’s are typically sent after the borrower missed one or more mortgage payments or commits another contractual default. The NOI notifies the borrower that they are in default and, unless they act to resolve the default, a foreclosure action could be filed in court in as little as 45 days. Maryland law requires the lender or servicer to electronically submit a copy of the NOI data to OCFR within 5 business days of mailing to the borrower. [See Real Property §7-105.1(c) and COMAR 09.03.12.02.]

The NOI numbers can be an indicator of the number of mortgage defaults in Maryland. Most borrowers who receive an NOI do not end up in foreclosure because they are able to reach a resolution with their lender or servicer, or otherwise catch up on missed payments.

NOTE: Per Governor Hogan’s Executive Order number 20-04-03-01, there is to be no initiation of residential foreclosures effective April 3, 2020. OCFR has suspended operation of the NOI reporting system effective April 10, 2020 until further notice or the state of emergency is lifted.

Notice of Foreclosure (NOF)

A Notice of Foreclosure, or NOF, is an electronic registration submitted to OCFR within 7 days of the initial court filing that starts the legal foreclosure process, by the party authorized to foreclose. The NOF contains information used primarily by local governments for nuisance abatement. (Normally an NOI must be issued at least 45 days before the court filing that precedes the NOF, unless certain criteria are met.) [See Real Property §7-105.2.]

The number of NOF registrations indicate the number of legal foreclosure actions started in Maryland. Not every property with an NOF will be foreclosed upon; for example, a foreclosure may be dismissed if the borrower is able to reach an agreement with their lender or servicer.

NOTE: Per Maryland Court of Appeals Chief Judge Barbera’s June 3rd administrative order, foreclosure actions filed in court, including the filings which precede NOFs, were stayed until July 25, 2020.


NOI AND NOF VOLUME

See the figures below for:

  • The number of NOIs and NOFs received by OCFR in the previous 12 months; and
  • The number of NOIs and NOFs received by OCFR in the previous 52 weeks.

Figure 1.
Notice  of Intent to Foreclose and Notice of Foreclosure, Volume by Month (GRAPH)

 

Figure 2.

NOI / NOF Volume by Month

Month-Year

NOI Number Received

NOF Number Received

August 2020

n/a

371

July 2020

n/a

331

June 2020

n/a

421

May 2020

n/a

285

April 2020

1,041

408

March 2020

4,653

1,115

February 2020

5,616

1,310

January 2020

6,720

1,230

December 2019

6,257

1,258

November 2019

5,809

1,157

October 2019

6,216

1,347

September 2019

5,435

1,135

Figure 3.

NOI / NOF Volume by Week

Week Start
(Monday)

Week End
(Sunday)

NOI Number Received

NOF Number Received

9/14/2019

9/20/2019

n/a

64

9/7/2020

9/13/2020

n/a

27

8/31/2020

9/6/2020

n/a

86

8/24/2020

8/30/2020

n/a

93

8/17/2020

8/23/2020

n/a

90

8/10/2020

8/16/2020

n/a

81

8/3/2020

8/9/2020

n/a

57

7/27/2020

8/2/2020

n/a

59

7/20/2020

7/26/2020

n/a

66

7/13/2020

7/19/2020

n/a

65

7/6/2020

7/12/2020

n/a

67

6/29/2020

7/5/2020

n/a

88

6/22/2020

6/28/2020

n/a

74

6/15/2020

6/21/2020

n/a

72

6/8/2020

6/14/2020

n/a

164

6/1/2020

6/7/2020

n/a

97

5/25/2020

5/31/2020

n/a

58

5/18/2020

5/24/2020

n/a

65

5/11/2020

5/17/2020

n/a

73

5/4/2020

5/10/2020

n/a

58

4/27/2020

5/3/2020

n/a

149

4/20/2020

4/26/2020

n/a

50

4/13/2020

4/19/2020

n/a

93

4/6/2020

4/12/2020

163

76

3/30/3030

4/5/2020

1922

137

3/23/2020

3/29/2020

812

99

3/16/2020

3/22/2020

1093

288

3/9/2020

3/15/2020

1320

353

3/2/2020

3/8/2020

1428

309

2/24/2020

3/1/2020

1370

482

2/17/2020

2/23/2020

1113

290

2/10/2020

2/16/2020

1094

223

2/3/2020

2/9/2020

1811

307

1/27/2020

2/2/2020

1380

314

1/20/2020

1/26/2020

1209

227

1/13/2020

1/19/2020

1530

258

1/6/2020

1/12/2020

1564

322

12/30/2019

1/5/2020

1621

204

12/23/2019

12/29/2019

1252

204

12/16/2019

12/22/2019

1284

319

12/9/2019

12/15/2019

1821

305

12/2/2019

12/8/2019

1544

343

11/25/2019

12/1/2019

1032

250

11/18/2019

11/24/2019

1283

286

11/11/2019

11/17/2019

1068

255

11/4/2019

11/10/2019

954

322

10/28/2019

11/3/2019

2374

259

10/21/2019

10/27/2019

1374

250

10/14/2019

10/20/2019

1119

317

10/7/2019

10/13/2019

1391

308

9/30/2019

10/6/2019

1481

305

9/23/2019

9/29/2019

1190

257

 

View prior fiscal year foreclosure data in OCFR’s Annual Reports
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