Lender Processing Services releases February 2009 Mortgage Monitor Report MortgagePress.comLender Processing Services, non-agency jumbo prime foreclosure, February 2009 LPS Mortgage Monitor
Lender Processing Services Inc., a provider of integrated
technology and services to the mortgage industry, has announced the
release of the February 2009 LPS Mortgage Monitor, an in-depth
report of mortgage industry performance indicators as of January
month end. The monthly report is based on data from the company's
market-leading repository of loan-level residential mortgage data
and performance information, including more than 34 million active
loans across the credit spectrum. This data is analyzed by LPS to
produce over 30 charts and graphs reflecting both trend and
point-in-time performance observations.
Among the findings, LPS reports that foreclosure starts have
continued to increase across major product types over the past
several months despite moratoria and mitigation. In the report, LPS
compares Agency versus Non-Agency Jumbo Prime performance and
reveals a surprising fact about the relative performance of newly
originated Jumbo Prime loans. Non-Agency Jumbo Prime foreclosure
starts have increased almost 125 percent since January 2008, the
most amongst the product types included in the report.
The report also shows that 25 percent of mortgage loans that
were modified in Q4 2008 were delinquent by the end of January
2009. Other available data includes statistics about overall
delinquency rates, how seasonality may be impacting those rates,
foreclosure inventories, the status of loans prior to modifications
and much more. To review the full report or access an executive
summary, click
here.
For more information, visit www.lpsvcs.com.
