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LPS: Delinquencies Increase Slightly, Foreclosure Inventory Shrinks

""Lender Processing Services, Inc."":http://www.lpsvcs.com/Pages/default.aspx (LPS) offered an early look into delinquency and foreclosure trends for November.

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The data provider found the delinquency rate increased slightly to 7.12 percent from 7.03 percent in October, representing a 1.2 percent increase.

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Compared to November 2011, the delinquency rate has fallen by 9.06 percent.

The foreclosure pre-sale inventory rate decreased to 3.51 percent, with inventory falling monthly and yearly by 2.84 percent and 16.42 percent, respectively.

The number of properties past due, or properties 30 days or more delinquent or in foreclosure, totaled 5,350,000. Of that figure, 1,767,000 were in foreclosure presale inventory, while 1,584,000 were 90 days or more past due but not in foreclosure.

The states with the highest percentage of past due loans, which includes delinquencies and foreclosures, were Florida, New Jersey, Mississippi, Nevada, and New York.

The states with the lowest number of past due loans were Montana, Wyoming, South Dakota, Alaska, and North Dakota.

LPS' report represents about 70 percent of the overall market.

About Author: Esther Cho

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