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Residential Real Estate News
LPS Reports a Rise in U.S. Foreclosure Inventories; Slight Decrease in Delinquency Rates in December
According to Jacksonville-based Lender Processing Services (NYSE: LPS) "First Look" Mortgage Report, there was a rise in U.S. foreclosure inventories, but a light decrease in delinquency rates in December 2010. These statistics are derived from their loan-level database of nearly 40 million U.S. mortgage loans.
Here are the report highlights:
- Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 8.83%
- Month-over-month change in delinquency rate: -2.1%
- Year-over-year change in delinquency rate: -17.9%
- Total U.S foreclosure pre-sale inventory rate: 4.15%
- Month-over-month change in foreclosure presale inventory rate: 1.7%
- Year-over-year change in foreclosure presale inventory rate: 9.3%
- Number of properties that are 30 or more days past due, but not in foreclosure: (A loans) 4,674,000
- Number of properties that are 90 or more days delinquent, but not in foreclosure: 2,117,845
- Number of properties in foreclosure pre-sale inventory: (B loans) 2,196,000
- Number of properties that are 30 or more days delinquent or in foreclosure: (A+B loans) 6,870,000
- States with highest percentage of non-current loans: FL, NV, MS, GA, NJ
- States with the lowest percentage of non-current loans: MT, WY, AK, SD, ND
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