LPS Previews September Delinquency/Foreclosure Data

by devteam October 23rd, 2012 | Share

As it does each month, lender Processing Services (LPS) hasrnreleased preliminary data from its forthcoming Mortgage Monitor report.   The early data shows a spike in the delinquentrnloan rate in September compared to August but a continuing decline in thernforeclosure inventory. </p

Mortgages that were 30 or more days past due but not yet inrnforeclosure rose 7.72 percent  inrnSeptember to a rate of 7.40 percent of all loans in the country with anrnoutstanding mortgage.  Even with thernincrease, however the delinquency rate is still down 4.19 percent from the raternone year earlier.   There are now 3.7 million loans that are 30rndays or more delinquent and 1.57 million or those loans are over 90 daysrndelinquent but not in foreclosure. </p

The foreclosure inventory – the percent of loans that are inrnsome process of foreclosure – fell another 4.05 percent during the month to arn3.87 percent rate, an annual decline of 7.37 percent.  There are 1.94 million properties in thernpre-sale foreclosure inventory. rnDelinquent loans both in and out of foreclosure now number 5.64 millionrnnationwide.</p

LPS figures are derived from its loan-level databasernrepresenting about 70 percent of mortgage loans.  The complete September Mortgage Monitor report will be issued on or before November 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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