The WPJ
Residential Real Estate News
LPS Reports Increase in U.S. Loan Delinquency Rates and Foreclosure Inventories in June
According to Jacksonville-based Lender Processing Services' (NYSE: LPS) First Look Report for June 2011, loan delinquencies uptick 2.4% in June, but still below the same period last year.
LPS derives their data from a loan-level database of nearly 40 million mortgage loans across the U.S.
Here are key highlights from their First Look Report for June:
- Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 8.15%
- Month-over-month change in delinquency rate: 2.4%
- Year-over-year change in delinquency rate: -14.7%
- Total U.S foreclosure pre-sale inventory rate: 4.12%
- Month-over-month change in foreclosure presale inventory rate: 0.2%
- Year-over-year change in foreclosure presale inventory rate: 12.8%
- Number of properties that are 30 or more days past due, but not in foreclosure: (A) 4,285,000
- Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,906,000
- Number of properties in foreclosure pre-sale inventory: (B) 2,167,000
- Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 6,452,000
- States with highest percentage of non-current loans: FL, NV, MS, NJ, IL
- States with the lowest percentage of non-current loans: MT, WY, AK, SD, ND
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