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LPS Previews March Report on Delinquencies and Foreclosures
Lender processing Services (LPS)rnreported that there was a 5 percent reduction in the national delinquency rate</bin February compared to January figures and that the drop in delinquenciesrnsince February 2010 now totals 14.0 percent. The foreclosure presale inventoryrnrate declined by 0.5 percent from January figures to 4.13 percent which is arn-0.3 change from one year earlier. </p
The LPS information is a preview of datarnthat will be reported by the company on March 27 in its monthly Mortgage Monitor report.</p
There are currently 3.78 million propertiesrnthat are 30 or more days past due but not in foreclosure, 1.72 million of whichrnare over 90 days delinquent but not yet referred for foreclosure. Properties in foreclosure (the pre-salerninventory) number 2.065 million. Thisrnmeans there are 5.85 million properties currently at risk for foreclosure.</p
The highest percentage of non-currentrnloans continues to be concentrated in Florida, Mississippi, Nevada, New Jersey,rnand Illinois.
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Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.
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