January 20, 2012 (Shirley Allen)

Mortgage delinquencies held steady in December after jumping up in November while the number of properties in the foreclosure inventory declined by 2.7 percent according to the latest “First Look” Mortgage Report released by Lender Processing Services (LPS).

The total number of loans that are 30 days or more past due, but not yet in foreclosure, remained unchanged from the previous month at 8.15 percent in December. The delinquency rate was still 7.7 percent lower than what it was in December 2010.

The number of properties in the foreclosure inventory declined 2.7 percent in December to a total of 2.066 million, down from 2.116 million properties in November, a decline of 50,000 properties.

The number of properties in the shadow inventory also declined, falling from 1.809 million properties in November to 1.792 million properties in December, a decrease of 15,000 properties.

The total number of properties that were either delinquent or in foreclosure declined from 6.260 million in November to 6.167 million in December, a decline of 1.5 percent.

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): 8.15% compared to 8.15% in November 2011

Month-over-month change in delinquency rate: 0.0% compared to 2.7% in November 2011

Year-over-year change in delinquency rate: -7.7% compared to -9.6% in November 2011

Total U.S foreclosure pre-sale inventory rate: 4.11% compared to 4.16% in November 2011

Month-over-month change in foreclosure presale inventory rate: -1.3% compared to -3.0% in November 2011

Year-over-year change in foreclosure presale inventory rate: -1.0% compared to 2.0% in November 2011

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 4,101,000 compared to 4,144,000 in November 2011

Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,792,000 compared to 1,809,000 in November 2011

Number of properties in foreclosure pre-sale inventory: (B) 2,066,000 compared to 2,116,000 in November 2011

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 6,167,000 compared to 6,260,000 in November 2011

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

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

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

Source:
LPS