The WPJ
Residential Real Estate News
U.S. Mortgage Loan Delinquency Rate Hovers at 9.29% in October
Jacksonville-based Lender Processing Services (NYSE:LPS) reported this week that mortgage performance statistics derived from its loan-level database of nearly 40 million mortgage loans remained relatively flat in October 2010.
LPS October loan data highlights include:
- Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 9.29%
- Month-over-month change in delinquency rate: 0.1%
- Year-over-year change in delinquency rate: -8.4%
- Total U.S. foreclosure pre-sale inventory rate: 3.92%
- Month-over-month change in foreclosure presale inventory rate: 2.1%
- Year-over-year change in foreclosure presale inventory rate: 5.2%
- Number of properties that are 30 or more days past due, but not in foreclosure: (A) 4,953,000
- Number of properties that are 90 or more days delinquent, but not in foreclosure: 2,238,000
- Number of properties in foreclosure pre-sale inventory: (B) 2,090,000
- Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 7,043,000
- States with highest percentage of non-current* loans: FL, NV, MS, GA, LA, 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.
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