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Foreclosure Inventory at an All-Time High
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You're Now Reading:
Foreclosure Inventory at an All-Time High
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Foreclosure Inventory at an All-Time High
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About Mortgages
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Mortgage Rates

May 3, 2011 (Chris Moore)

Foreclosure inventory stood at an all-time high at the end of March according the March Mortgage Monitor released by Lender Processing Services (LPS). At 2.2 million properties, foreclosure inventories are 8 times historic norms. Delinquencies continued to decline to the lowest levels since 2008.

The report also shows that foreclosure starts increased by 33 percent since the end of February to 270,681. That was the largest amount of foreclosure starts since the beginning of the foreclosure moratorium following the “robo-signing” controversy. Foreclosure sales increased significantly, also reaching levels prior to the “robo-signing” controversy, which suggests that the slowdown in foreclosure activity due to the moratorium may be passing.

Delinquencies declined in March to the lowest level since 2008, dropping more than 11 percent compared to February, and down nearly 20 percent since March of 2010.

Early-stage delinquencies led the decline as 30-day and 60-day delinquent inventories are approaching pre-housing crisis levels. The report notes however, that March is historically the month with the largest delinquency declines.

The reduction in refinance activity led to a decline in mortgage originations as rising interest rates and tighter credit requirement means that a majority of homeowners who were eligible to refinance may have already done so.

Other key results from LPS’s Mortgage Monitor report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 7.78% compared to 8.80% in February 2011

Month-over-month change in delinquency rate: -11.6% compared to -1.2% in February 2011

Year-over-year change in delinquency rate: -19.4% compared to -18.4% in February 2011

Total U.S foreclosure pre-sale inventory rate: 4.21% compared to 4.15% in February

Month-over-month change in foreclosure presale inventory rate: 1.4% compared to -0.2% in February 2011

Year-over-year change in foreclosure presale inventory rate: 11.0% compared to 7.4% in February 2011

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 4,111,000 compared to 4,659,000 in February 2011

Number of properties that are 90 or more days delinquent, but not in foreclosure: 21,989,000 compared to 2,165,000 in February 2011

Number of properties in foreclosure pre-sale inventory: (B) 2,222,000 compared to 2,196,000 in February 2011

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 6,333,000 compared to 6,856,000 in February 2011

States with highest percentage of non-current* loans: FL, NV, MS, NJ, GA (FL, NV, MS, NJ, GA in February 2011)

States with the lowest percentage of non-current* loans: MT, WY, AK, SD, ND (MT, WY, AK, SD, ND in February 2011)

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

Notes:
(1) Totals are extrapolated based on LPS Applied Analytics’ loan-level database of mortgage assets.
(2) All whole numbers are rounded to the nearest thousand.

You can read LPS’ full report on their website.

Tags: LPS, mortgage delinquency rate, foreclosure inventory, non-current loans, foreclosure starts, delinquencies, robo-signing controversy, Mortgage Monitor report

FILL OUT THE FORM
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ADVANTAGES OF USING
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Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
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Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
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No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

May 3, 2011 (Chris Moore)

Foreclosure inventory stood at an all-time high at the end of March according the March Mortgage Monitor released by Lender Processing Services (LPS). At 2.2 million properties, foreclosure inventories are 8 times historic norms. Delinquencies continued to decline to the lowest levels since 2008.

The report also shows that foreclosure starts increased by 33 percent since the end of February to 270,681. That was the largest amount of foreclosure starts since the beginning of the foreclosure moratorium following the “robo-signing” controversy. Foreclosure sales increased significantly, also reaching levels prior to the “robo-signing” controversy, which suggests that the slowdown in foreclosure activity due to the moratorium may be passing.

Delinquencies declined in March to the lowest level since 2008, dropping more than 11 percent compared to February, and down nearly 20 percent since March of 2010.

Early-stage delinquencies led the decline as 30-day and 60-day delinquent inventories are approaching pre-housing crisis levels. The report notes however, that March is historically the month with the largest delinquency declines.

The reduction in refinance activity led to a decline in mortgage originations as rising interest rates and tighter credit requirement means that a majority of homeowners who were eligible to refinance may have already done so.

Other key results from LPS’s Mortgage Monitor report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 7.78% compared to 8.80% in February 2011

Month-over-month change in delinquency rate: -11.6% compared to -1.2% in February 2011

Year-over-year change in delinquency rate: -19.4% compared to -18.4% in February 2011

Total U.S foreclosure pre-sale inventory rate: 4.21% compared to 4.15% in February

Month-over-month change in foreclosure presale inventory rate: 1.4% compared to -0.2% in February 2011

Year-over-year change in foreclosure presale inventory rate: 11.0% compared to 7.4% in February 2011

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 4,111,000 compared to 4,659,000 in February 2011

Number of properties that are 90 or more days delinquent, but not in foreclosure: 21,989,000 compared to 2,165,000 in February 2011

Number of properties in foreclosure pre-sale inventory: (B) 2,222,000 compared to 2,196,000 in February 2011

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 6,333,000 compared to 6,856,000 in February 2011

States with highest percentage of non-current* loans: FL, NV, MS, NJ, GA (FL, NV, MS, NJ, GA in February 2011)

States with the lowest percentage of non-current* loans: MT, WY, AK, SD, ND (MT, WY, AK, SD, ND in February 2011)

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

Notes:
(1) Totals are extrapolated based on LPS Applied Analytics’ loan-level database of mortgage assets.
(2) All whole numbers are rounded to the nearest thousand.

You can read LPS’ full report on their website.

Tags: LPS, mortgage delinquency rate, foreclosure inventory, non-current loans, foreclosure starts, delinquencies, robo-signing controversy, Mortgage Monitor report

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

May 3, 2011 (Chris Moore)

Foreclosure inventory stood at an all-time high at the end of March according the March Mortgage Monitor released by Lender Processing Services (LPS). At 2.2 million properties, foreclosure inventories are 8 times historic norms. Delinquencies continued to decline to the lowest levels since 2008.

The report also shows that foreclosure starts increased by 33 percent since the end of February to 270,681. That was the largest amount of foreclosure starts since the beginning of the foreclosure moratorium following the “robo-signing” controversy. Foreclosure sales increased significantly, also reaching levels prior to the “robo-signing” controversy, which suggests that the slowdown in foreclosure activity due to the moratorium may be passing.

Delinquencies declined in March to the lowest level since 2008, dropping more than 11 percent compared to February, and down nearly 20 percent since March of 2010.

Early-stage delinquencies led the decline as 30-day and 60-day delinquent inventories are approaching pre-housing crisis levels. The report notes however, that March is historically the month with the largest delinquency declines.

The reduction in refinance activity led to a decline in mortgage originations as rising interest rates and tighter credit requirement means that a majority of homeowners who were eligible to refinance may have already done so.

Other key results from LPS’s Mortgage Monitor report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 7.78% compared to 8.80% in February 2011

Month-over-month change in delinquency rate: -11.6% compared to -1.2% in February 2011

Year-over-year change in delinquency rate: -19.4% compared to -18.4% in February 2011

Total U.S foreclosure pre-sale inventory rate: 4.21% compared to 4.15% in February

Month-over-month change in foreclosure presale inventory rate: 1.4% compared to -0.2% in February 2011

Year-over-year change in foreclosure presale inventory rate: 11.0% compared to 7.4% in February 2011

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 4,111,000 compared to 4,659,000 in February 2011

Number of properties that are 90 or more days delinquent, but not in foreclosure: 21,989,000 compared to 2,165,000 in February 2011

Number of properties in foreclosure pre-sale inventory: (B) 2,222,000 compared to 2,196,000 in February 2011

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 6,333,000 compared to 6,856,000 in February 2011

States with highest percentage of non-current* loans: FL, NV, MS, NJ, GA (FL, NV, MS, NJ, GA in February 2011)

States with the lowest percentage of non-current* loans: MT, WY, AK, SD, ND (MT, WY, AK, SD, ND in February 2011)

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

Notes:
(1) Totals are extrapolated based on LPS Applied Analytics’ loan-level database of mortgage assets.
(2) All whole numbers are rounded to the nearest thousand.

You can read LPS’ full report on their website.

Tags: LPS, mortgage delinquency rate, foreclosure inventory, non-current loans, foreclosure starts, delinquencies, robo-signing controversy, Mortgage Monitor report

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.