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

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