Lender Processing Services Inc. (LPS), a provider of integrated technology, data and analytics to the mortgage and real estate industries, has reported the following "first look" at May 2011 month-end mortgage performance statistics derived from its loan-level database of nearly 40 million mortgage loans.
AS of May 2011, the total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) was at 7.96 percent. There was a month-over-month change in delinquency rate of -0.1 percent, and a year-over-year change in the delinquency rate of -18.3 percent. The total U.S foreclosure pre-sale inventory rate was at 4.11 percent. The month-over-month change in foreclosure presale inventory rate was at -0.7 percent, while the year-over-year change in foreclosure presale inventory rate stood at 12.3 percent.
The Lender Processing Services Inc. (LPS) report found that the number of properties that are 30 or more days past due, but not in foreclosure in the U.S. was at 4,187,000, and the number of properties that are 90 or more days delinquent, but not in foreclosure stood at 1,921,000.
There were 2,164,000 properties in foreclosure pre-sale inventory, and 6,350,000 properties that were 30 or more days delinquent or in foreclosure.
The states with highest percentage of non-current loans were Florida, Nevada, Mississippi, New Jersey and Illinois, and the five states with the lowest percentage of non-current loans were Montana, Wyoming, Alaska, South Dakota and North Dakota.