The WPJ
Residential Real Estate News
LPS Reports Decline in Delinquency Rates, Foreclosure Inventories
Jacksonville, Florida-based Lender Processing Services (NYSE: LPS) reported this week in their monthly First Look report for February 2011, the total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) was now at 8.80%. This is derived from their loan-level database of nearly 40 million U.S. mortgage loans.
Other Key Report Highlights Include:
- Month-over-month change in delinquency rate: -1.2%
- Year-over-year change in delinquency rate: -18.4%
- Total U.S. foreclosure pre-sale inventory rate: 4.15%
- Month-over-month change in foreclosure presale inventory rate: -0.2%
- Year-over-year change in foreclosure presale inventory rate: 7.4%
- Number of properties that are 30 or more days past due, but not in foreclosure: (A) 4,659,000
- Number of properties that are 90 or more days delinquent, but not in foreclosure: 2,165,000
- Number of properties in foreclosure pre-sale inventory: (B) 2,196,000
- Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 6,856,000
- States with highest percentage of non-current* loans: FL, NV, MS, NJ, and GA
- States with the lowest percentage of non-current* loans: MT, WY, AK, SD, and ND
*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
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