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Delinquency Rate Increases Again, Overdue Mortgages=5,569,000: LPS

""Lender Processing Services, Inc."":http://www.lpsvcs.com/Pages/default.aspx (LPS) offered a peak into mortgage performance in May 2012 and revealed the delinquency rate increased for the second month in a row after declines.

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The total delinquency rate, which includes all loans 30 days or more past due but not yet in foreclosure, was 7.20 percent, a 1.1 percent increase from the month before in April. Compared to May 2011, the delinquency rate is still down significantly by 9.6 percent.

In April 2012, the delinquency rate increased slightly by 0.4 percent from the month before after 9 months of declines.

Overall, the number of properties that are 30 or more days delinquent or in foreclosure totaled 5,569,000.

The total number of properties 30 days or more days past but not yet in foreclosure was about 3,542,000 while the number of properties in foreclosure inventory totaled 2,027,000.

The number of properties that are seriously delinquent, or 90 or more days past due, but not yet in foreclosure was approximately 1,575,000.

The rate of properties in foreclosure inventory was 4.12 percent, a 0.5 percent monthly decline and a 0.2 percent increase year-over-year.

The states with the highest percentage of non-current loans were Florida, Mississippi, New Jersey, Nevada, and Illinois.

The states with the lowest percentage of non-current loans were Montana, Alaska, South Dakota, Wyoming, and North Dakota.

The statistics are derived from LPS' loan-level database of nearly 40 million mortgage loans.

LPS is a provider of integrated technology, data and analytics to the mortgage and real estate industries,

About Author: Esther Cho

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