LPS: Foreclosures Drop for 13th Consecutive Month
Following “first look” at May 2013 month-end mortgage performance statistics derived from its loan-level database representing approximately 70 percent of the overall market, Lender Processing Services Inc. (LPS) has reported that the total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) is currently 6.08 percent. This means that the month-over-month change in delinquency rate is -2.11 percent. The year-over-year change in delinquency rate sits at -12.01 percent.
Meanwhile, it can be noted that the total U.S. foreclosure pre-sale inventory rate stood at 3.05 percent. The change in the month-over-month in foreclosure presale inventory rate was -3.91 percent. Additionally, the year-over-year change in foreclosure presale inventory rate was at -26.98 percent.
As for the number of properties that are 30 or more days past due, but not in foreclosure, we are looking at 3,043,000. However, the number of properties that are 90 or more days delinquent, but not in foreclosure stayed at 1,335,000. The number of properties in foreclosure pre-sale inventory hit 1,525,000 in May, while the number of properties that were 30 or more days delinquent or in foreclosure hit 4,569,000 in May.
Florida, New Jersey, Mississippi, Nevada and New York were the states with highest percentage of non-current loans in May, and the states with the lowest percentage of non-current loans were Montana, Alaska, Wyoming, South Dakota and North Dakota.
Level 4 Funding LLC
23335 N 18th Drive Suite 120
Phoenix AZ 85027