February 18, 2011 (Shirley Allen)
Lender Processing Service (LPS) released its monthly “First Look” Mortgage Report for January 2010 yesterday which is derived from its loan-level database of nearly 40 million loans. The month-end data shows a rise in foreclosure inventories with a slight decrease in the delinquency rate.
The “First Look” report contains highlights of the company’s forthcoming Mortgage Monitor report which will provide a more in-depth review including an analysis of data supplemented by in-depth charts and graphs that reflect trend and point-in-time observations.
Early highlights of the report include:
Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 8.90%
Month-over-month change in delinquency rate: -0.8%
Year-over-year change in delinquency rate: -18.8%
Total U.S foreclosure pre-sale inventory rate: 4.16%
Month-over-month change in foreclosure presale inventory rate: 0.2%
Year-over-year change in foreclosure presale inventory rate: 7.9%
Number of properties that are 30 or more days past due, but not in foreclosure: (A) 4,719,000
Number of properties that are 90 or more days delinquent, but not in foreclosure: 2,168,000
Number of properties in foreclosure pre-sale inventory: (B) 2,203,000
Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 6,922,000
States with highest percentage of non-current* loans: FL, NV, MS, GA, NJ
States with the lowest percentage of non-current* loans: MT, WY, AK, SD, ND
*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
(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