Delinquency Rate Jumped in September

The national foreclosure rate jumped over 4 percent in September LenderrnProcessing Services, Inc. (LPS) said today, but the foreclosure inventoryrncontinued to decline.  LPS, a data and analyticsrncompany, released a preview on Wednesday of selected delinquency statisticsrnfrom its monthly Mortgage Monitor report.rn The full report will be available inrnearly November.</p

The rate of mortgage loans that were 30-days or more past due increasedrnby 4.23 percent from August to a national rate of 6.46 percent.  That rate was 12.63 percent below the levelrnof September 2012.  The September rate equatesrnto a total of 3.27 million loans that are delinquent but not yet in foreclosure.  Of these, 1.33 million are seriouslyrndelinquent, that is 90 or more days past due but not in foreclosure.</p

The foreclosure pre-sale inventory currently consists of 1.33 millionrndelinquent loans.  This is a nationalrnrate of 2.63 percent, a decrease of 1.29 percent from August.  The inventory, loans that are in some stagernof foreclosure, has fallen 32.18 percent since September 2012. </p

The total number of non-current loans in the U.S. is now 4.59 million.  Florida, Mississippi, New Jersey, New York,rnand Maine have the highest percentage of non-current loans, a designation thatrnincludes both delinquent loans and loans in foreclosure.

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