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FORECLOSURE ACTIVITY IN FIRST HALF OF 2024 DOWN FROM PREVIOUS YEAR

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U.S. Foreclosure Starts Decrease 3.5 Percent in First Six Months of 2024; Average Days to Complete a Foreclosure Up Second Quarter in a Row; June and Q2 2024 Foreclosure Activity Post Annual Declines

IRVINE, Calif., July 11, 2024 /PRNewswire/ — ATTOM, a leading curator of land, property and real estate data, today released its Midyear 2024 U.S. Foreclosure Market Report, which shows there were a total of 177,431 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in the first six months of 2024. That figure is down 4.4 percent from the same time period a year ago but up 7.8 percent from the same time period two years ago.

Historical First Half US Foreclosure Activity Chart

“In contrast to the first half of 2023, foreclosure activity across the United States experienced a decline in the first half of 2024,” stated Rob Barber, CEO for ATTOM. “In addition, U.S. foreclosure starts also decreased by 3 percent in the first six months of 2024. These shifts could suggest a potential stabilization in the housing market; however, monitoring these evolving patterns remains crucial to understanding the full impact on the real estate sector.”

States that saw the greatest increases in foreclosure activity compared to a year ago in the first half of 2024 included South Dakota (up 93 percent); North Dakota (up 86 percent); Kentucky (up 73 percent); Massachusetts (up 46 percent); and Idaho (up 30 percent).

New Jersey, Illinois, and Florida post highest state foreclosure rates
Nationwide, 0.13 percent of all housing units (one in every 794) had a foreclosure filing in the first half of 2024.

States with the highest foreclosure rates in the first half of 2024 were New Jersey (0.21 percent of housing units with a foreclosure filing); Illinois (0.21 percent); Florida (0.20 percent); Nevada (0.19 percent); and South Carolina (0.19 percent).

Other states with first-half foreclosure rates among the 10 highest nationwide were Maryland (0.19 percent); Connecticut (0.19 percent); Delaware (0.18 percent); Ohio (0.18 percent); and Indiana (0.16 percent).

Highest metro foreclosure rates in Lakeland, Columbia, and Atlantic City
Among the 224 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in the first half of 2024 were Lakeland, Florida (0.32 percent of housing units with foreclosure filings); Columbia, South Carolina (0.31 percent); Atlantic City, New Jersey (0.28 percent); Cleveland, Ohio (0.27 percent); and Spartanburg, South Carolina (0.27 percent).

Other major metro areas with foreclosure rates ranking among the top 10 highest in the first half of 2024 were Jacksonville, Florida (0.25 percent of housing units with a foreclosure filing); Bakersfield, California (0.25 percent); Elkhart, Indiana (0.24 percent); Orlando, Florida (0.24 percent); and Chicago, Illinois (0.24 percent).

Foreclosure starts down 3.5 percent from last year
A total of 130,369 U.S. properties started the foreclosure process in the first six months of 2024, down 3.5 percent from the first half of last year and down 32 percent from the first half of 2020.

States that saw the greatest number of foreclosures starts in the first half of 2024 included Texas (15,375 foreclosure starts); Florida (15,251 foreclosure starts); California (14,964 foreclosure starts); New York (7,523 foreclosure starts); and Illinois (7,240 foreclosure starts).

Bank repossessions decline in first half of 2024 from last year
Lenders foreclosed (REO) on a total of 18,726 U.S. properties in the first six months of 2024, down 17 percent from the first half of 2023 and down 10 percent from the first half of 2022, but up 92 percent from the first half of 2021.

States that posted the greatest number of REOs in the first half of 2024 included California (1,575 REOs); Pennsylvania (1,568 REOs); Illinois (1,540 REOs); Michigan (1,432 REOs); and Texas (1,197 REOs).

Q2 2024 foreclosure activity below pre-recession averages in 79 percent of major markets
There were a total of 89,466 U.S. properties with a foreclosure filings during the second quarter of 2024, down 6 percent from the previous quarter and down 8 percent from a year ago.

The national foreclosure activity total in Q2 2024 was 68 percent below the pre-recession average of 278,912 per quarter from Q1 2006 to Q3 2007.

Second quarter foreclosure activity was below pre-recession averages in 177 out 224 (79 percent) metropolitan statistical areas with a population of at least 200,000 and sufficient historical foreclosure data, including New York, Los Angeles, Chicago, Dallas, Houston, Miami, Atlanta, San Francisco, Riverside–San Bernardino, Phoenix, and Detroit.

Metro areas with second quarter foreclosure activity above pre-recession averages included Honolulu, HI; Richmond, VA; Baltimore, MD; Virginia-Beach, VA; Albany, New York; and Montgomery, AL.

Average time to foreclose increases for second quarter in a row
Properties foreclosed in Q2 2024 had been in the foreclosure process an average of 815 days. That figure was up 11 percent from the previous quarter and down 33 percent from Q2 2023.

Average Days to Complete Foreclosure

States with the longest average foreclosure timelines for homes foreclosed in Q2 2024 were Louisiana (3,686 days); Hawaii (2,597 days); New York (2,034 days); Georgia (1,929 days); and Nevada (1,852 days).

States with the shortest average foreclosure timelines for homes foreclosed in Q2 2024 were New Hampshire (82 days); Texas (147 days); Minnesota (151 days); Oregon (206 days); and Montana (212 days).

June 2024 Foreclosure Activity High-Level Takeaways

Nationwide in June 2024, one in every 5,071 properties had a foreclosure filing.States with the highest foreclosure rates in June 2024 were Illinois (one in every 3,041 housing units with a foreclosure filing); New Jersey (one in every 3,042 housing units); Florida (one in every 3,202 housing units); South Carolina (one in every 3,346 housing units); and Maryland (one in every 3,486 housing units).18,574 U.S. properties started the foreclosure process in June 2024, down 17 percent from the previous month and down 22.7 percent from June 2023.Lenders completed the foreclosure process on 2,891 U.S. properties in June 2024, up .4 percent from the previous month and down 10 percent from June 2023.

U.S. Foreclosure Market Data by State – Jan to Jun 2024

Rate
Rank

State Name

Total Properties w/
FC Filings

% Housing
Units

1/Every X
HU

%∆ from
Jan-June 23

%∆ from
Jan-June 22

U.S. Total

177,431

0.13

794

-4.39

7.81

19

Alabama

2,565

0.11

895

14.56

3.64

36

Alaska

207

0.07

1,534

-33.65

29.38

23

Arizona

3,052

0.10

1,015

-0.84

-4.83

26

Arkansas

1,130

0.08

1,214

-17.46

41.96

13

California

19,013

0.13

759

6.13

16.36

34

Colorado

1,784

0.07

1,401

-18.13

-23.17

7

Connecticut

2,860

0.19

535

17.36

44.52

8

Delaware

826

0.18

547

-17.73

-8.53

District of
Columbia

659

0.19

532

32.86

565.66

3

Florida

20,090

0.20

494

8.42

13.99

15

Georgia

5,289

0.12

837

-16.15

-7.71

33

Hawaii

408

0.07

1,375

-21.08

4.08

30

Idaho

596

0.08

1,273

29.57

96.05

2

Illinois

11,336

0.21

479

-16.76

-19.52

10

Indiana

4,778

0.16

614

-9.06

-0.91

18

Iowa

1,611

0.11

880

-13.39

2.55

47

Kansas

485

0.04

2,636

-19.57

6.83

27

Kentucky

1,644

0.08

1,216

72.51

100.49

20

Louisiana

2,224

0.11

935

1.23

18.74

28

Maine

600

0.08

1,236

8.11

-14.77

6

Maryland

4,762

0.19

532

-18.71

62.30

17

Massachusetts

3,411

0.11

879

45.64

74.56

16

Michigan

5,210

0.11

879

-26.50

-11.89

25

Minnesota

2,153

0.09

1,158

-7.56

1.27

39

Mississippi

811

0.06

1,634

-22.84

-14.18

38

Missouri

1,730

0.06

1,616

-19.08

-33.36

48

Montana

141

0.03

3,670

-30.54

-27.32

43

Nebraska

446

0.05

1,901

-30.64

-23.76

4

Nevada

2,495

0.19

516

3.87

10.45

35

New Hampshire

424

0.07

1,510

-6.19

5.74

1

New Jersey

8,076

0.21

465

-11.19

-12.00

29

New Mexico

741

0.08

1,273

-33.42

-3.52

12

New York

11,312

0.13

751

-7.23

47.43

24

North Carolina

4,530

0.10

1,046

-20.87

-7.87

45

North Dakota

192

0.05

1,939

86.41

131.33

9

Ohio

9,236

0.18

569

-12.42

-16.25

22

Oklahoma

1,734

0.10

1,010

-23.71

-18.21

41

Oregon

1,002

0.06

1,815

-22.80

53.68

14

Pennsylvania

7,141

0.12

806

0.92

29.11

44

Rhode Island

253

0.05

1,909

-29.92

-18.39

5

South Carolina

4,568

0.19

517

1.26

0.00

50

South Dakota

85

0.02

4,625

93.18

97.67

31

Tennessee

2,329

0.08

1,310

-7.62

17.39

11

Texas

15,610

0.13

747

12.55

35.42

21

Utah

1,214

0.10

958

16.17

18.79

49

Vermont

89

0.03

3,766

25.35

102.27

32

Virginia

2,747

0.08

1,320

-18.99

-7.97

42

Washington

1,761

0.05

1,826

13.54

32.01

46

West Virginia

353

0.04

2,434

-18.10

49.58

40

Wisconsin

1,543

0.06

1,772

-11.07

-14.99

37

Wyoming

175

0.06

1,562

-26.78

-10.26

Report methodology
The ATTOM U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the ATTOM Data Warehouse during the month and quarter. Some foreclosure filings entered into the database during the quarter may have been recorded in the previous quarter. Data is collected from more than 3,000 counties nationwide, and those counties account for more than 99 percent of the U.S. population. ATTOM’s report incorporates documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). For the annual, midyear and quarterly reports, if more than one type of foreclosure document is received for a property during the timeframe, only the most recent filing is counted in the report. The annual, midyear, quarterly and monthly reports all check if the same type of document was filed against a property previously. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state where the property is located, the report does not count the property in the current year, quarter or month.

About ATTOM
ATTOM provides premium property data to power products that improve transparency, innovation, efficiency, and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include ATTOM Cloud, bulk file licenses, property data APIs, real estate market trends, property navigator and more. Also, introducing our newest innovative solution, making property data more readily accessible and optimized for AI applications– AI-Ready Solutions. 

Media Contact:
Megan Hunt
megan.hunt@attomdata.com 

Data and Report Licensing:
datareports@attomdata.com

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SOURCE ATTOM

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KM Malta Airlines, the Maltese Islands’ New National Carrier, Implements CellPoint Digital’s Payment Orchestration Solution

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September 23, 2024

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The partnership will enable KM Malta Airlines to provide passengers with a seamless payment experience and access to their preferred payment methods.

LONDON, Sept. 23, 2024 /CNW/ — CellPoint Digital, a global pioneer in Payment Orchestration, is proud to announce it has partnered with KM Malta Airlines to support the airline’s payment processes across multiple sales channels, including on its website and App, allowing passengers in future to pay with key alternative payment methods (APMs) like Apple Pay.

From the start of operations on March 31, 2024, CellPoint Digital was entrusted to support KM Malta Airlines’ payment processes across. Using CellPoint Digital’s Payment Orchestration platform, KM Malta Airlines launched the service with optimised payment processes, a cost-effective payment strategy, and a customer-centric payment model. This partnership reflects the airline’s commitment to providing its passengers with a seamless, convenient payment experience and the airline’s recognition of CellPoint Digital as a valued payment solution provider.

Through its partnership with CellPoint Digital, KM Malta Airlines gains access to a network of acquirer connections, including its newly introduced partner, Shift4 (formerly Finaro), to support its growth strategy. This allows the airline to optimise transaction routing, reduce payment costs, and settle in its preferred currency.

“It’s not often that we get to be present at the inception of one of Europe’s next great airlines, but that’s the opportunity we have with this partnership,” said Kristian Gjerding, CEO of CellPoint Digital. “By prioritising its payment strategy as a cornerstone of its launch strategy, KM Malta Airlines demonstrates that it cares about providing passengers with the best possible booking experience and setting itself up for future success.”

Roy Kinnear, CCO of KM Malta Airlines, stated, “A highly optimised, cost-efficient payment strategy is important to the success of our airline. That’s why we partnered with experts in aviation payments to deliver a comprehensive platform tailored to our passengers’ needs and allowing us to expand our offering of customer choice payment mechanisms.”

The Advantage of Day-One Payment Orchestration

Payment Orchestration is a concept that describes the end-to-end management of all components of a payment, from authorisation to routing to settlement to reporting, allowing airlines to boost conversions in direct and indirect sales channels at lower transaction costs. CellPoint Digital’s Payment Orchestration Platform, which KM Malta Airlines will implement, routes transactions intelligently to increase acceptance, simplifies and centralises back-end reconciliation, integrates various payment methods like Apple Pay, and easily accommodates multiple PSPs and acquirers, including KM Malta Airline’s preferred acquiring partner, Shift4.

For more information about the CellPoint Digital partnership with KM Malta Airlines or to speak with company executives, please get in touch with Steven Osei at steven.osei@cellpointdigital.com

About CellPoint Digital
CellPoint Digital is a fintech leader in payment orchestration and optimisation. CellPoint Digital’s main solution is a powerful Payment Orchestration Platform that optimises digital payment transactions from cards or alternative payment methods and accelerates the deployment of new payment options. Merchants can easily scale their own payment ecosystem across the world, unify the customer payment experience across their website, mobile apps and other channels, optimise the routing of each transaction, increase conversion rates and minimise payment costs. CellPoint Digital has offices in Copenhagen, Dallas, Dubai, London, Miami, Pune and Singapore. Visit www.cellpointdigital.com to learn more. 

About KM Malta Airlines

The KM Malta Airlines schedule serves 17 airports across 15 key European cities, namely, Amsterdam, Berlin, Brussels, Catania, Dusseldorf, London Gatwick, London Heathrow, Lyon, Madrid, Milan, Munich, Paris Charles de Gaulle, Paris Orly, Prague, Rome, Vienna and Zurich.

Bookings can be made on kmmaltairlines.com

Contact: media@kmmaltairlines.com

 

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SOURCE CellPoint Digital

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Advantech Unveils Expanded Singapore Office to Boost ASEAN Presence and Support AIoT Innovations with Strategic Partnerships

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September 23, 2024

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SINGAPORE, Sept. 23, 2024 /PRNewswire/ — Advantech (TWSE: 2395), a global leader in industrial IoT and embedded computing solutions, has officially inaugurated its expanded regional office in Singapore. This strategic investment is set to enhance Advantech’s core competencies within the ASEAN region. Located at 7002 Ang Mo Kio Avenue 5, the new office will double the company’s current facility space, enhancing its infrastructure to meet the rising demand for high-technology solutions, particularly in the semiconductor sector. The expansion underscores Advantech’s commitment to collaborating with silicon and ecosystem partners and investing in local talent development through industry-academia partnerships. The new office will also support Advantech’s Configure-To-Order Service (CTOS), reinforcing its strategic goal of deepening and localising industry presence while advancing a comprehensive AIoT industry development strategy.

Vincent Chang, Managing Director of Asia and Intercontinental Region at Advantech, stated, “The relocation to our new premises marks a significant milestone in Advantech’s nearly 30 years of growth in Singapore. Established in 1995, Advantech Singapore has grown to become a pivotal hub in the ASEAN region, leading to the creation of Advantech Malaysia, Thailand, Indonesia, and Vietnam as key regional business units. Advantech envisions Singapore evolving into a Corporate Development Core Competency hub, focusing on business intelligence, strategic planning, and advancing branding, public relations, and ESG programmes across the ASEAN region.”

Advantech is also excited to launch the second year of its AIoT Innowork programme with Singapore Polytechnic (SP). This year’s projects will focus on sustainable development, net-zero emissions, and generative AI. Students will use Advantech’s WISE-PaaS, a cloud-based platform, to develop AIoT solutions, including a smart outdoor agriculture proof-of-concept within SP’s campus. Additionally, the programme will advance intelligent EV charging and parking space monitoring with Advantech’s LoRaWAN gateway and generative AI, featuring a dashboard for carpark occupancy and an assistive chatbot for availability queries.

In response to the government’s focus on future workforce development, a student team from SP is set to create a proof of concept for a “Generative AI-powered Virtual Sales Agent.” This innovative project aims to transform customer interactions by enhancing sales and engagement through cutting-edge AI technology. SP envisions this technology revolutionising customer engagement, enhancing service support, and improving operational efficiency.

Advantech Singapore is dedicated to advancing the “MySkillsFuture” programme, a key initiative by the Singapore government to support lifelong learning. Advantech aims to build a collaborative value chain that fosters a sustainable and thriving IoT ecosystem by partnering with ecosystem players, academic institutions, and industry leaders. Additionally, through academic collaboration, Advantech seeks to cultivate industry growth and align with its social responsibility objectives by producing and distributing urban farming products to underserved communities. These strategic partnerships are poised to drive long-term industry success and reinforce Advantech’s commitment to its ESG goals.

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SOURCE Advantech Co. Singapore Pte Ltd

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Estonia Strengthens Smart Mobility Networking and Strategic Partnerships in the Gulf

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September 23, 2024

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DUBAI, UAE, Sept. 23, 2024 /PRNewswire/ — Trade Estonia, part of Enterprise Estonia, is concluding its participation at the ITS World Congress 2024 in Dubai, further asserting its leadership in intelligent transport systems (ITS) and smart mobility. Estonia, known for being the first country to allow testing autonomous vehicles on public roads since 2017, showcased its innovative technologies that are setting new benchmarks in smart mobility and ITS.

At the exhibition, Trade Estonia displayed pioneering solutions, including Bamboo Apps’ cutting-edge dispatch system for autonomous shuttles, enabling remote monitoring of unmanned vehicles to enhance safety and efficiency. e-Pavement integrates sensors within road surfaces to improve safety and traffic management, while Auve Tech’s autonomous shuttles seamlessly integrate with public transport, offering efficient and eco-friendly urban mobility solutions. Metrosert is enhancing the precision of smart infrastructure, and Digilogistika Keskus is optimising logistics through advanced digital platforms, boosting supply chain efficiency in smart cities.

H.E. The Ambassador of Estonia to the UAE Maria Belovas stated, “Estonia’s footprint in integrating cutting-edge technology is pivotal in enhancing transportation safety, efficiency, and mobility. Our innovations are designed to meet the evolving needs of global smart cities and ensure a sustainable future for transportation.”

These advancements exemplify Estonia’s commitment to developing intelligent, sustainable, and efficient transport solutions that address both urban and rural mobility needs, and solidifying its global network.

In addition to presenting its technological progress at the ITS World Congress, Estonia focused on building meaningful connections and exploring new avenues for collaboration.

Forging Strategic Global Partnerships

Estonia is dedicated to expanding its international impact by building strategic partnerships, particularly in the Gulf region.

A recent networking event, hosted by H.E. The Ambassador of Finland, Ms. Tuula Yrjölä, and H.E. The Ambassador of Estonia, Ms. Maria Belovas, brought together Finnish and Estonian business delegations to cultivate global connections in smart mobility. The event also facilitated valuable discussions on future collaborations, reflecting Trade Estonia’s ongoing mission to support global innovation and sustainability in transport.

Ms. Maria Belovas highlighted the importance of these international connections in advancing the organisation’s strategic goals and enriching global collaborative efforts.

Building on this momentum, Trade Estonia is gearing up for its next significant engagement at GITEX Global 2024. This upcoming event will serve as a new stage for Estonia to underline their technological advancements and explore new avenues for collaboration with global technology leaders.

About Trade Estonia

Trade Estonia is part of Enterprise Estonia. As a state organisation, Trade Estonia helps Estonian companies to establish themselves in international markets. With a focus on future technologies and pioneering projects, Trade Estonia provides Estonian companies with access to market analysis and marketing strategies and creates the conditions for them to operate successfully on a global scale. Trade Estonia not only promotes the development of new business areas and the establishment of strategic partnerships, but also facilitates access to international networks, thus contributing to the global competitiveness of Estonian companies.

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