LPS: Foreclosures Drop for 13th Consecutive Month

Lender Processing Services Inc. (LPS) has reported the following "first look" at May 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) is currently 6.08 percent. The month-over-month change in delinquency rate is -2.11 percent. The year-over-year change in delinquency rate sits at -12.01 percent. The total U.S. foreclosure pre-sale inventory rate stood at 3.05 percent. The month-over-month change in foreclosure presale inventory rate was -3.91 percent. The year-over-year change in foreclosure presale inventory rate was at -26.98 percent. Number of properties that are 30 or more days past due, but not in foreclosure was at 3,043,000. The number of properties that are 90 or more days delinquent, but not in foreclosure stood at 1,335,000. The number of properties in foreclosure pre-sale inventory hit 1,525,000 in May, while the number of properties that were 30 or more days delinquent or in foreclosure hit 4,569,000 in May. The states with highest percentage of non-current loans in May were Florida, New Jersey, Mississippi, Nevada and New York, while the states with the lowest percentage of non-current loans were Montana, Alaska, Wyoming, South Dakota and North Dakota.