New data from ""Lender Processing Services"":http://www.lpsvcs.com (LPS) shows the population of mortgages going unpaid in the U.S. contracted during the month of August.
[IMAGE] LPS offered the media a sneak peak at several key mortgage performance statistics slated for public release later this month. The companyÃ¢â‚¬â„¢s analysts derive their findings from LPSÃ¢â‚¬â„¢ loan-level database of nearly 40 million mortgage loans.
They say there were 6,397,000 home loans at least 30 days delinquent or in foreclosure as of the end of August. That's down from 6,538,000 the month before.
LPS puts the delinquency rate of mortgages 30 or more days past due, but not yet in foreclosure at 8.13 percent.[COLUMN_BREAK]
The national delinquency rate dropped by 2.5 percent between July and August, and is down 11.8 percent from a year earlier.
The industry's inventory of properties in the midst of foreclosure, on the other hand, rose by both measurements, and now stands at 4.11 percent of all outstanding mortgages.
The foreclosure presale inventory rate edged up by 0.1 percent month-over-month and 8.2 percent year-over-year.
Of the 6,397,000 past due mortgages at the end of August, LPS says 2,148,000 were winding their way through foreclosure channels.
That leaves 4,249,000 delinquent by 30 or more days, but not in foreclosure. Of these, 1,866,000 were overdue by 90 days or longer.
According to LPSÃ¢â‚¬â„¢ August study, the states with highest percentage of non-current loans Ã¢â‚¬" which combines foreclosures and delinquencies Ã¢â‚¬" held onto their rankings from the previous month. These include: Florida, Mississippi, Nevada, New Jersey, and Illinois.
States with the lowest percentage of non-current loans include: Montana, Wyoming, Alaska, South Dakota, and North Dakota.