Loan Delinquency Continues to Improve, Falling 2.11% Last Month

Lender Processing Services (LPS)rnpublished a “first look” at month-end mortgage performancernstatistics for May which continue to show substantial improvement inrnvarious measures of loan delinquency. The data released on Tuesdayrnwill be included in greater detail in the LPS Mortgage Monitorrnreport scheduled for release inrnearly July.</p

LPSrnreports that the U.S. delinquency rate declined 2.11 percent lastrnmonth and is now 12.01 percent below its level in May 2012. Therncurrent delinquency rate is 6.08 percent. There are currently 3.043rnmillion properties that are 30 or more days past due but not yet inrnforeclosure. Of those, 1.334 million are 90 or more days past due.</p

Thernnational foreclosure pre-sale inventory rate is 3.05 percent, downrn3.91 percent from April and 26.98 percent below the rate one yearrnago. There are 1.525 million homes in some stage of foreclosure. There are a total of 4.569 million mortgaged properties that arerneither 30 or more days past due or in the process of foreclosure. </p

Thernstates with the highest percentage of non-current loans are FloridarnNew Jersey, Mississippi, Nevada, and New York.

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