U.S. Delinquency Rate Hits 6.80 Percent in February
Lender Processing Services Inc. (LPS) reported the following "first look" at February 2013 month-end mortgage performance statistics derived from its loan-level database representing approximately 70 percent of the overall market. The total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) stood at 6.80 percent. There was a month-over-month change in delinquency rate of -3.16 percent, and a year-over-year change in delinquency rate of -6.51 percent.
In February, the total U.S. foreclosure pre-sale inventory rate was at 3.38 percent, while the month-over-month change in foreclosure presale inventory rate was -0.98 percent. The year-over-year change in foreclosure presale inventory rate was -19.58 percent.
In February, the number of properties that were 30 or more days past due, but not in foreclosure was 3,410,000 nationwide. The number of properties that were 90 or more days delinquent, but not in foreclosure was 1,483,000, while the number of properties in foreclosure pre-sale inventory stood at 1,694,000. Nationwide, the number of properties that were 30 or more days delinquent or in foreclosure was 5,104,000
States with highest percentage of non-current loans include Florida, New Jersey, Mississippi, Nevada and New York, and the states with the lowest percentage of non-current loans included Montana, Alaska, Wyoming, and South and North Dakota.
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