Lender Processing Service (LPS) released its monthly “First Look” Mortgage Report for February 2011 yesterday which is derived from its loan-level database of nearly 40 million loans. The month-end data shows a decline in delinquency rate and foreclosure inventories.
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): 8.80% compared to 8.90% in January 2011
Month-over-month change in delinquency rate: -1.2% compared to -0.8% in January 2011
Year-over-year change in delinquency rate: -18.4% compared to -18.8% in January 2011
Total U.S foreclosure pre-sale inventory rate: 4.15% compared to 4.16% in January
Month-over-month change in foreclosure presale inventory rate: -0.2% the same in January 2011
Year-over-year change in foreclosure presale inventory rate: 7.4% compared to 7.9% in January 2011
Number of properties that are 30 or more days past due, but not in foreclosure: (A) 4,659,000 compared to 4,719,000 in January 2011
Number of properties that are 90 or more days delinquent, but not in foreclosure: 2,165,000 compared to 2,168,000 in January 2011
Number of properties in foreclosure pre-sale inventory: (B) 2,196,000 compared to 2,203,000 in January 2011
Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 6,856,000 compared to 6,922,000 in January 2011
States with highest percentage of non-current* loans: FL, NV, MS, NJ, GA (FL, NV, MS, GA, NJ in January 2011)
States with the lowest percentage of non-current* loans: MT, WY, AK, SD, ND (MT, WY, AK, SD, ND in January 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
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