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Foreclosure Sales, Mortgage Delinquencies Rise in May
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Foreclosure Sales, Mortgage Delinquencies Rise in May
The Easy Way to Shop For a Mortgage Loan
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Foreclosure Sales, Mortgage Delinquencies Rise in May
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July 11, 2012 (Shirley Allen)

Foreclosures sales rose by 10 percent in May while mortgage delinquencies increased for the second consecutive month, rising 1.1 percent from April, according to the latest Mortgage Monitor Report released by Lender Processing Services (LPS).

By the end of May, states that utilize the judicial foreclosure process had over two-and-a-half times as many homes in some stage of foreclosure than states that utilize the non-judicial foreclosure process.

In judicial states, 6.5 percent of all loans were somewhere in the foreclosure pipeline compared to 2.5 percent in non-judicial states. Foreclosure sales during May were three times higher in judicial states than non-judicial states with 6.46 percent of the existing foreclosure inventory in judicial states progressing to foreclosure sales compared to 2.14 percent in non-judicial states.

The nation’s foreclosure inventory fell from 4.14 percent to 4.12 percent of all active loans in May, still near all-time highs.

The foreclosure inventory decreased in May to a total of 2.027 million properties, down from 2.048 million properties in April, a decline of 21,000 properties. The foreclosure inventory was 1.0 percent lower than a year ago.

The number of properties in the shadow inventory also declined, falling from 1.595 million properties in April to 1.575 million properties in May, a decrease of 20,000 properties.

The total number of properties that were either delinquent or in foreclosure declined from 5.570 million in April to 5.569 million in May.

Meanwhile, the percentage of loans that were 30 days or more past due, but not yet in foreclosure, increased from 7.12 percent in April to 7.20 percent in May, the second consecutive increase in the delinquency rate following nine months of declines. The delinquency rate was still 9.6 percent lower than what it was in May 2011.

Earlier highlights from LPS’s “First Look” report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 7.20% compared to 7.12% in April 2012

Month-over-month change in delinquency rate: 1.1% compared to 0.4% in April 2012

Year-over-year change in delinquency rate: -9.6% compared to -10.6% in April 2011

Total U.S foreclosure pre-sale inventory rate: 4.12% compared to 4.14% in April 2012

Month-over-month change in foreclosure presale inventory rate: -0.5% compared to 0.0% in April 2012

Year-over-year change in foreclosure presale inventory rate: 0.2% compared to 0.0% in April 2011

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 3,542,000 compared to 3,522,000 in April 2012

Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,575,000 compared to 1,595,000 in April 2012

Number of properties in foreclosure pre-sale inventory: (B) 2,027,000 compared to 2,048,000 in April 2012

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 5,569,000 compared to 5,570,000 in April 2012

States with highest percentage of non-current* loans: FL, MS, NJ, NV, IL (FL, MS, NJ, NV, IL in April 2012)

States with the lowest percentage of non-current* loans: MT, AK, SD, WY, ND (MT, AK, SD, WY, ND in April 2012)

*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.

Tags: LPS, mortgage delinquency rate, foreclosure inventory, non-current loans

Source:
LPS

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July 11, 2012 (Shirley Allen)

Foreclosures sales rose by 10 percent in May while mortgage delinquencies increased for the second consecutive month, rising 1.1 percent from April, according to the latest Mortgage Monitor Report released by Lender Processing Services (LPS).

By the end of May, states that utilize the judicial foreclosure process had over two-and-a-half times as many homes in some stage of foreclosure than states that utilize the non-judicial foreclosure process.

In judicial states, 6.5 percent of all loans were somewhere in the foreclosure pipeline compared to 2.5 percent in non-judicial states. Foreclosure sales during May were three times higher in judicial states than non-judicial states with 6.46 percent of the existing foreclosure inventory in judicial states progressing to foreclosure sales compared to 2.14 percent in non-judicial states.

The nation’s foreclosure inventory fell from 4.14 percent to 4.12 percent of all active loans in May, still near all-time highs.

The foreclosure inventory decreased in May to a total of 2.027 million properties, down from 2.048 million properties in April, a decline of 21,000 properties. The foreclosure inventory was 1.0 percent lower than a year ago.

The number of properties in the shadow inventory also declined, falling from 1.595 million properties in April to 1.575 million properties in May, a decrease of 20,000 properties.

The total number of properties that were either delinquent or in foreclosure declined from 5.570 million in April to 5.569 million in May.

Meanwhile, the percentage of loans that were 30 days or more past due, but not yet in foreclosure, increased from 7.12 percent in April to 7.20 percent in May, the second consecutive increase in the delinquency rate following nine months of declines. The delinquency rate was still 9.6 percent lower than what it was in May 2011.

Earlier highlights from LPS’s “First Look” report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 7.20% compared to 7.12% in April 2012

Month-over-month change in delinquency rate: 1.1% compared to 0.4% in April 2012

Year-over-year change in delinquency rate: -9.6% compared to -10.6% in April 2011

Total U.S foreclosure pre-sale inventory rate: 4.12% compared to 4.14% in April 2012

Month-over-month change in foreclosure presale inventory rate: -0.5% compared to 0.0% in April 2012

Year-over-year change in foreclosure presale inventory rate: 0.2% compared to 0.0% in April 2011

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 3,542,000 compared to 3,522,000 in April 2012

Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,575,000 compared to 1,595,000 in April 2012

Number of properties in foreclosure pre-sale inventory: (B) 2,027,000 compared to 2,048,000 in April 2012

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 5,569,000 compared to 5,570,000 in April 2012

States with highest percentage of non-current* loans: FL, MS, NJ, NV, IL (FL, MS, NJ, NV, IL in April 2012)

States with the lowest percentage of non-current* loans: MT, AK, SD, WY, ND (MT, AK, SD, WY, ND in April 2012)

*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.

Tags: LPS, mortgage delinquency rate, foreclosure inventory, non-current loans

Source:
LPS

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.

July 11, 2012 (Shirley Allen)

Foreclosures sales rose by 10 percent in May while mortgage delinquencies increased for the second consecutive month, rising 1.1 percent from April, according to the latest Mortgage Monitor Report released by Lender Processing Services (LPS).

By the end of May, states that utilize the judicial foreclosure process had over two-and-a-half times as many homes in some stage of foreclosure than states that utilize the non-judicial foreclosure process.

In judicial states, 6.5 percent of all loans were somewhere in the foreclosure pipeline compared to 2.5 percent in non-judicial states. Foreclosure sales during May were three times higher in judicial states than non-judicial states with 6.46 percent of the existing foreclosure inventory in judicial states progressing to foreclosure sales compared to 2.14 percent in non-judicial states.

The nation’s foreclosure inventory fell from 4.14 percent to 4.12 percent of all active loans in May, still near all-time highs.

The foreclosure inventory decreased in May to a total of 2.027 million properties, down from 2.048 million properties in April, a decline of 21,000 properties. The foreclosure inventory was 1.0 percent lower than a year ago.

The number of properties in the shadow inventory also declined, falling from 1.595 million properties in April to 1.575 million properties in May, a decrease of 20,000 properties.

The total number of properties that were either delinquent or in foreclosure declined from 5.570 million in April to 5.569 million in May.

Meanwhile, the percentage of loans that were 30 days or more past due, but not yet in foreclosure, increased from 7.12 percent in April to 7.20 percent in May, the second consecutive increase in the delinquency rate following nine months of declines. The delinquency rate was still 9.6 percent lower than what it was in May 2011.

Earlier highlights from LPS’s “First Look” report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 7.20% compared to 7.12% in April 2012

Month-over-month change in delinquency rate: 1.1% compared to 0.4% in April 2012

Year-over-year change in delinquency rate: -9.6% compared to -10.6% in April 2011

Total U.S foreclosure pre-sale inventory rate: 4.12% compared to 4.14% in April 2012

Month-over-month change in foreclosure presale inventory rate: -0.5% compared to 0.0% in April 2012

Year-over-year change in foreclosure presale inventory rate: 0.2% compared to 0.0% in April 2011

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 3,542,000 compared to 3,522,000 in April 2012

Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,575,000 compared to 1,595,000 in April 2012

Number of properties in foreclosure pre-sale inventory: (B) 2,027,000 compared to 2,048,000 in April 2012

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 5,569,000 compared to 5,570,000 in April 2012

States with highest percentage of non-current* loans: FL, MS, NJ, NV, IL (FL, MS, NJ, NV, IL in April 2012)

States with the lowest percentage of non-current* loans: MT, AK, SD, WY, ND (MT, AK, SD, WY, ND in April 2012)

*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.

Tags: LPS, mortgage delinquency rate, foreclosure inventory, non-current loans

Source:
LPS

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.