Foreclosure Inventory Hits Lowest Point in Five Years

Lender Processing Services  Inc. (LPS) has reported the following "first look" at March 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) sttod at 6.59 percent, while the month-over-month change in delinquency rate was -3.13 percent. Year-over-year, the change in delinquency rate was -3.03 percent and the total U.S. foreclosure presale inventory rate hit 3.37 percent. The month-over-month change in foreclosure presale inventory rate dropped 0.41 percent, and the year-over-year change in foreclosure presale inventory rate dropped 19.61 percent. The number of properties that were 30 or more days past due, but not in foreclosure were 3,308,000 nationwide. The number of properties that were 90 or more days delinquent, but not in foreclosure was at 1,466,000 in March. The number of properties in foreclosure pre-sale inventory stood at 1,689,000, while the number of properties that were 30 or more days delinquent or in foreclosure dipped to 4,997,000. The states with highest percentage of non-current loans were Florida, New Jersey, Mississippi, Nevada and New York. The states with the lowest percentage of non-current loans were Montana, Alaska, Wyoming, South Dakota and North Dakota.