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July Delinquency Rate Drops Nearly Nine Percent Year-Over-Year

NationalMortgageProfessional.com
Aug 26, 2013

Lender Processing Services Inc. (LPS) has reported the following "first look" at July 2013 month-end mortgage performance statistics derived from its loan-level database representing approximately 70 percent of the overall market. Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) stood at 6.41 percent for the month of July, with a month-over-month change in delinquency rate of -3.96 percent, and year-over-year change in delinquency rate of -8.76 percent. The total U.S. foreclosure pre-sale inventory rate hit 2.82 percent in July, with a month-over-month change in foreclosure presale inventory rate of -3.46 percent and a year-over-year change in foreclosure presale inventory rate of -30.76 percent. The number of properties that were 30 or more days past due, but not in foreclosure was 3,193,000 nationwide. The number of properties that were 90 or more days delinquent, but not in foreclosure stood at 1,347,000, while the number of properties in foreclosure pre-sale inventory hit 1,406,000. The number of properties that were 30 or more days delinquent or in foreclosure totaled 4,599,000 in July. The top five states with the highest percentage of non-current loans were Florida, Mississippi, New Jersey, new York and Maine, and the states with the lowest percentage of non-current loans were Wyoming, Montana, Alaska, South Dakota and North Dakota.
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