Foreclosure Data Tracker - Financial Regulation
(Last updated January 24, 2022.)
View Foreclosure DataThe Office of the Commissioner of Financial Regulation (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 read the Description of Data (below) to learn about the two types of notices.
- Figure 1. Notice of Intent to Foreclose and Notice of Foreclosure, Volume by Month (GRAPH)
- Figure 2. Notice of Intent to Foreclose and Notice of Foreclosure, Volume by Month (CHART)
- Figure 3. Notice of Intent to Foreclose and Notice of Foreclosure, Volume by Week (CHART)
Contact Foreclosure Administration staff at FinReg.ForeclosureSystems@maryland.gov if you have questions or need assistance.
Description of DataOCFR is responsible for the administration of online foreclosure notice and registration systems. Maryland law requires lenders and secured parties to submit 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 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.
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 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: Pursuant to Governor Hogan’s executive order and subsequent regulatory guidance issued by OCFR, the NOI reporting system was closed April 2020 through June 30, 2021.
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 can 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.
NOTE: Due to the temporary closure of the NOI electronic system (pursuant to Governor’s Hogan’s executive order and regulatory guidance from OCFR), no NOIs were submitted between April 10, 2020 and June 30, 2021.
|NOI / NOF Volume by Month|
|Month-Year||NOI Number Received||NOF Number Received|
|NOI / NOF Volume by Week|
|NOI Number Received||NOF Number Received|