Substantial Decline in Foreclosure Inventory Noted in LPS Report

Lender Processing Services (LPS) hasrnprovided its regular advanced release of data from its Mortgage Monitor.  This “firstrnlook” at April 2013 month-end mortgage performance data will be followed by thernfull report in early June. </p

LPS reports that the total loanrndelinquency rate – loans 30 or more days past due but not in foreclosure – wasrn6.21 percent in April, down 5.81 percent from March and 9.61 percent from Aprilrn2012.  Just over 3.11 million loans arerncurrently delinquent but not in foreclosure and 1.394 million of these are overrn90 days past due.</p

Loans that are in foreclosure – the sorncalled foreclosure inventory – now number about 1.59 million properties, 3.17rnpercent of U.S. mortgages.  The inventoryrnis down 5.83 percent month over month and has dropped by almost 25 percentrnsince April 2012. </p

States with the highest percentage ofrndelinquent loans and loans in foreclosure are little changed from recentrnmonths; Florida, New Jersey, Mississippi, Nevada, and New York top the list.  </p

LPSrnderives its performance statistics from its loan-level database representingrnapproximately 70 percent of the overall mortgage market.

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