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LPS February Report Shows Drop in Both Delinquency Rate and Foreclosure Inventories
Lender Processing Services Inc. (LPS), a provider of integrated technology, data and analytics to the mortgage and real estate industries, reports the following "first look" at February 2011 month-end mortgage performance statistics derived from its loan-level database of nearly 40 million mortgage loans.
According to the LPS results:
►Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 8.80 percent
►Month-over-month change in delinquency rate: -1.2 percent
►Year-over-year change in delinquency rate: -18.4 percent
►Total U.S. foreclosure pre-sale inventory rate: 4.15 percent
►Month-over-month change in foreclosure presale inventory rate: -0.2 percent
►Year-over-year change in foreclosure presale inventory rate: 7.4 percent
►Number of properties that are 30 or more days past due, but not in foreclosure: 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: 2,196,000
►Number of properties that are 30 or more days delinquent or in foreclosure: 6,856,000
►States with highest percentage of non-current loans: Florida, Nevada, Mississippi, New Jersey and Georgia
►States with the lowest percentage of non-current loans: Montana, Wyoming, Alaska, South Dakota and North Dakota
*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
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