Skip to main content

LPS report shows delinquencies, foreclosures at record highs
Nov 10, 2009

The October Mortgage Monitor report released by Lender Processing Services Inc. (LPS), shows record high rates for non-current loans, as well as an upswing in loan production volume over the previous year. Published by LPS, a leading provider of mortgage performance data and analytics, the October 2009 Mortgage Monitor report is an in-depth summary of mortgage industry performance indicators based on data collected as of Sept. 30, 2009. Foreclosure inventories continued their upward climb. The nation's September 2009 foreclosure rate stood at 3.12 percent, a month-over-month increase of 2.6 percent and a year-over-year increase of 88.9 percent. Among individual states, Florida posted the most troubling results with 10.4 percent of loans in foreclosure, and more than 22 percent of loans reported as non-current. LPS' October Mortgage Monitor also cites large "shadow" foreclosure and real estate-owned (REO) inventories. The number of loans deteriorating further into delinquent status is now more than twice the number of foreclosure starts, indicating another major wave of troubled loans in an already clogged loan pipeline. Nearly one-third of foreclosures remain in pre-sale status after 12 months, twice as many as the year prior. The six-month average deterioration ratio has risen the past two months to 300 percent, showing that for every loan that improves in status, three more deteriorate further. Positive results included higher loan production totals for 2009 compared to the same time frame in 2008 based on LPS' mortgage data repository covering more than 40 million loans. Year-to-date 2009 loan totals were 2,032,973 (28 percent FHA) versus 1,903,723 (16 percent FHA) for the same period in 2008. Other key results from LPS' October Mortgage Monitor include: ► Total U.S. loan delinquency rate: 9.37 percent ► Total U.S. foreclosure inventory rate: 3.12 percent ► Total U.S. non-current* loan rate: 12.49 percent ► States with most non-current* loans: Florida, Nevada, Mississippi, Arizona, Georgia, California, Michigan, Indiana, Ohio and Illinois ► States with fewest non-current* loans: North Dakota, South Dakota, Wyoming, Alaska, Montana, Nebraska, Vermont, Colorado, Oregon and Washington *Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state. **Totals based on LPS Applied Analytics' loan-level database of mortgage assets. For more information, visit
Nov 10, 2009
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021
Gateway Mortgage Surpasses 165 Mortgage Centers With 10 New Additions

Gateway Mortgage reported significant growth in the company, prompting it to open 10 new locations across Colorado, Idaho, Oklahoma, Texas, Oregon, and Wyoming.

Industry News
Jul 30, 2021
FHFA Requires 30-Day Notice Prior To Eviction

Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.

Industry News
Jul 29, 2021
Houston-Based Stewart Acquires Title First Agency

Ohio-Based Agency Has 20 Offices And Operates in 32 States

Industry News
Jul 28, 2021
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021