Home / Tag Archives: LPS (page 10)

Tag Archives: LPS

Industry Home Price Reports Show Further Declines

Home price indexes from CoreLogic and Lender Processing Services (LPS) both recorded continuing declines through October. CoreLogic's study shows national home prices dropped 1.3 percent month-over-month, marking the third straight decline. LPS' report indicates the same downward trajectory, with preliminary data pointing to a 1.1 percent decline for October, on the heels of a 1.2 percent drop in September. Looking forward, CoreLogic's forecasts indicate flat growth through 2013 for residential home prices.

Read More »

Delinquencies Still Falling but Foreclosures at an All-Time High

Data released by Lender Processing Services (LPS) Thursday shows mortgage delinquencies are continuing to decline, now nearly 30 percent below their January 2010 peak. Loans in the process of foreclosure, on the other hand, are steadily rising. LPS says foreclosure inventories reached an all-time high at the end of October, making up 4.29 percent of all active mortgages. The average days delinquent for loans in foreclosure extended as well during the month, setting a new record of 631 days since last payment.

Read More »

Past Due Mortgages = 6,298,000

There were 6,298,000 mortgages going unpaid in the United States as of the end of October, according to Lender Processing Services (LPS). It's a daunting number, but the data show that it's actually been on a fairly steady decline for nearly two years now. At the start of 2011, the total number of non-current mortgages in the U.S. stood at 6,870,000. In January 2010, it was 8,118,000. LPS' report indicates mortgage delinquencies are declining while the nation's foreclosure inventory is growing.

Read More »

Nevada AG Files Criminal Charges for Robo-Signing

Nevada Attorney General Catherine Cortez Masto has filed criminal charges against two title officers for alleged robo-signing. The defendants are employed by Lender Processing Services (LPS) and are allegedly responsible for tens of thousands of fraudulent documents that made their way through the Clark County Recorder's Office from 2005 to 2008. LPS says it cooperated with Masto's investigation and was assured earlier in the month that the company was not a target of the attorney general's inquiry.

Read More »

LPS: Prices Are 28.3% Below Peak in Mid-2006

National home prices have been on the decline since June 2006 with a few bursts of increases, which Lender Processing Services (LPS) attributes to seasonal trends. Overall, prices have declined 28.3 percent since their peak in June 2006, according to LPS' new home price index. The company reports home prices fell 0.9 percent across the nation in August, after a smaller 0.4 percent decline the previous month. The largest price declines since the beginning of this year have occurred in Atlanta and Phoenix.

Read More »

LPS Appoints Nancy Murphy to Head Investor Relations

Lender Processing Services, Inc. (LPS) announced Monday that Nancy Murphy has joined the company as VP of investor relations. Murphy has 17 years experience as a finance professional. Her work includes financial strategy and analysis, business development, and relationship management. Most recently, Murphy directed investor relations for Stein Mart, Inc. and before that served as head of investor relations for Providian Financial Corporation.

Read More »

Foreclosure Timeline Lengthened by 140 Days Over Past Year: LPS

Mortgages backing homes that were foreclosed on in September had been delinquent for an average of 624 days, according to Lender Processing Services (LPS). That's up from 484 days in September of last year. LPS says almost 40 percent of loans in foreclosure have not made a payment in two years. Modification volumes have been falling steadily since last year, but on the plus side, LPS says close to 90 percent of the mods completed over that time have reduced borrowers' payments, and as a result, redefault rates have dropped significantly.

Read More »

Industry’s Past-Due Mortgages Continue to Drop

How many homeowners in the United States are behind on their mortgage payments? It's 6,373,000, according to Lender Processing Services (LPS). The number is staggering, but it's actually on the decline, down from 6,397,000 as of the end of August, and 6,538,000 at the end of July. LPS has released a few high-level numbers from its mortgage performance report due out later this month, and there's evidence that servicers are pushing loans that have been languishing in non-payment status through the pipeline at a faster pace.

Read More »

LPS Selects Industry Veteran Hugh Harris as Company CEO

Lender Processing Services, Inc. has named Hugh R. Harris to serve as the company's president and CEO, effective October 5, 2011. He will also serve as a member of the company's board of directors. Harris previously served as president of the financial services technology division at Fidelity National Financial and Fidelity National Information Services. He also held senior executive roles at HomeSide Lending, Mortgage Corporation of the South, and BancBoston Mortgage Corporation.

Read More »

New Foreclosure Actions Jump Nearly 20% in August

Data released by Lender Processing Services (LPS) Monday shows that foreclosure starts were up in August by 19.7 percent when compared to the previous month. However, overall foreclosure starts were down more than 12 percent from August of last year. At the same time, LPS says the number of loans in the 90-plus day delinquency bucket on which foreclosure has not been initiated has contracted to levels not seen since 2008, and the loan deterioration rate is less than half that seen in 2009.

Read More »

Your Daily Dose of DS News

Get the news you need, when you need it. Subscribe to the Daily Dose of DS News to receive each day’s most important default servicing news and market information, absolutely free of charge.