LPS Preview Shows Decline in Delinquincies and Shadow Inventory

by devteam September 24th, 2012 | Share

Lender Processing Services (LPS) previewed its October Mortgage Monitor Report today and itrnshows a continued decline in both mortgage delinquencies and the shadowrninventory.   Data covered by the report,rnwhich covers about 70 percent of the overall mortgage market, is for the monthrnof August.</p

The national delinquency rate which includes loans that arern30 or more days past due but not yet in foreclosure declined 2.3 percent torn6.87 percent, 10.6 percent below the rate in August, 2011.  There are now 3.43 million homes with delinquentrnmortgages for which foreclosure proceedings have not yet started and 1.52rnmillion of those are seriously delinquent, that is 90 or more days past due.</p

There are 2.02 million homes in the pre-foreclosure sale inventoryrnof 4.04 percent of all mortgaged homes. rnThis is a decline of 1.0 percent since July and 2.0 percent year overrnyear.   LPS says that there are, overall,rn5.450 homes with mortgages that are in some state of distress.  </p

The states with the highest percentage of non-current loansrnare Florida, Mississippi, New Jersey, Nevada, and New York.</p

The full version of the MortgagernMonitor report will be published on October 2.

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About the Author


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

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