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Huge Spike in Delinquency Rate After 5 Months of Improvements

by devteam July 25th, 2013 | Share

Lender Processing Services (LPD) willrnbe reporting a huge spike in the U.S. Loan delinquency rate when itrnreleases its Mortgage Monitor</ifor June. Its usual advanced release of some Monitor datarnshows the total delinquency rate for June was 6.68 percent, a 9.91rnpercent increase, month over month,  in the rate which includes loans 30 orrnmore days past due but not in foreclosure. This jump follows fivernstraight months of decline. The company offered no explanation forrnthe surge beyond referring to it as “seasonal”. </p

Therernwere 3,328,000 mortgage loans in the 30+ delinquent category at thernend of June. Of these loans, 1,345,000 â€

About the Author

devteam

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

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