Distressed Loans Fall Below 5 Million For First Time In 5 Years

by devteam April 23rd, 2013 | Share

All of the housing metrics releasedrntoday by Lender Processing Services (LPS) showed movement in a positiverndirection.  LPS generally provides a “firstrnlook” at some of the data which will be covered in its monthly Mortgage Monitor when released early thernfollowing month.</p

The national delinquency rate droppedrn3.13 percent from February to 6.59 percent and was down 3.03 percent from Marchrn2012.  The delinquency rate translates torn3.308 million loans that are 30 or more days past due and 1.466 million loansrnthat at 90 or more days delinquent.  Itrndoes not reflect loans that are in the process of foreclosure. </p

The inventory of mortgages in some stagernof the foreclosure process stood at 1.689 million in March, down 0.41 percent</bon a monthly basis and 19.6 percent on an annual basis.  The foreclosure inventory rate was 3.37rnpercent.</p

All distressed loans both delinquent andrnin foreclosure now total 4.997 million. rnLPS says this is the first time the non-current inventory has dippedrnunder 5 million in five years.</p

The states with the highest percentagernof non-current loans are little changed from past months; Florida, New Jersey,rnMississippi, Nevada, and New York.</p

The March Mortgage Monitor is slated for publication by May 1.

All Content Copyright © 2003 – 2009 Brown House Media, Inc. All Rights Reserved.nReproduction in any form without permission of is prohibited.

About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

See all blogs


Leave a Comment

Leave a Reply

Latest Articles

Real Estate Investors Skip Paying Loans While Raising Billions

By John Gittelsohn August 24, 2020, 4:00 AM PDT Some of the largest real estate investors are walking away from Read More...

Late-Stage Delinquencies are Surging

Aug 21 2020, 11:59AM Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Read More...

Published by the Federal Reserve Bank of San Francisco

It was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...