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Tag Archives: LPS

LPS: Mortgage Delinquency Rate Dropped 18% in 2010

According to data released by Lender Processing Services (LPS) Tuesday, delinquency rates are down across all first-lien home loan products, with an 18 percent overall decline since the start of 2010. The company attributed the drop to more loans entering foreclosure, combined with a decline in new delinquencies. The nation's foreclosure inventory, on the other hand, swelled almost 10 percent over the course of 2010. LPS says 30 percent of the foreclosures started during the month of December are ""repeat foreclosures,"" meaning they have been in foreclosure previously.

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EverHome Mortgage Company Renews LPS Technology Agreement

Lender Processing Services, Inc. (LPS), a Florida-based provider of integrated technology and services to the mortgage and real estate industries, announced this week that EverHome Mortgage Company has signed a long-term contract extension for LPS's Mortgage Servicing Package (MSP). EverHome Mortgage, a mortgage servicer that is also headquartered in Florida, and its predecessors have used LPS technology for more than 45 years.

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LPS Completes Year-End Loan Processing on Nearly 37M Mortgages

Lender Processing Services, Inc. (LPS) announced Monday that it successfully completed year-end mortgage loan processing for its mortgage servicing clients on January 1, 2011. The company processed nearly 37 million loans for 67 mortgage servicers within one day's time. Mortgage servicers must annually report prior-year account information to mortgagors to meet regulations for the Internal Revenue Service (IRS) and other government agencies, as well as to meet internal reporting requirements.

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LPS: 6.87 Million Mortgages Delinquent or in Foreclosure

As of the end of December, 6.87 million mortgages in the United States were delinquent or in the process of foreclosure, according to Lender Processing Services (LPS). The company's data show that while the nation's volume of non-current home loans remains elevated, it's been steadily declining for several months now. LPS reported that 6.92 million mortgages were delinquent or in foreclosure at the end of November, and in October, it was just above 7 million.

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LPS: Foreclosure Inventory Rises for Fifth Straight Month

Recent market data analyzed by Lender Processing Services (LPS) highlights delays in the resolution of unpaid mortgages after the robo-signing scandal, and reveals congestion in foreclosure pipelines where loans are languishing and further adding to the shadow inventory of properties that will ultimately become REO and could slow home price appreciation. At the end of November, nearly 2.2 million loans were 90 days or more past due but not yet referred to a foreclosure attorney. Of these, one-third have not made a mortgage payment in at least a year.

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LPS: Number of Loans Delinquent, in Foreclosure Dips Below 7 Million

Lender Processing Services (LPS) offered the media a sneak peek at its upcoming November mortgage market report Thursday. Based on the company's assessment, the number of home loans in the United States 30 or more days delinquent or in foreclosure declined slightly. LPS' study will show that 6,925,000 mortgages were past due or already winding their way through the foreclosure pipeline as of the end of November. The previous month, the company's analysts put the figure at 7,043,000.

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Accelerated Foreclosure Activity Keeps Delinquency Growth in Check

Servicers have picked up the pace as they work through a backlog of loans that have languished in late-stage delinquency status for months, and in some cases well over a year. As a result, Lender Processing Services says lenders' foreclosure inventories have risen dramatically and are about 7.4 times above the historical average. Increases in delinquency numbers have remained subdued, however, as loans are pushed out the end of the pipeline faster than new delinquencies enter.

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LPS: More Than 7M Mortgages Are Delinquent or in Foreclosure

There are 7,043,000 mortgages in the United States that are at least 30 days past due or in the process of foreclosure, according to Lender Processing Services (LPS). The company provided a sneak peek at its October month-end mortgage performance data this week. The numbers show the delinquency rate was virtually unchanged from the previous month's reading, but foreclosures are on the rise. LPS says nearly four percent of the nation's home loans have been referred to an attorney for foreclosure.

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LPS Report Shows Foreclosure Timelines Continue to Stretch

Market data collected by Lender Processing Services (LPS) during the month of September reveals that foreclosure timelines continue to increase, with borrowers in the latest stages of foreclosure languishing without having made a mortgage payment for up to 16 months. LPS notes that the average time a loan remains delinquent in judicial states such as New York and Florida now exceeds 500 days. Nationwide, more than 4.3 million loans are currently 90 or more days delinquent or in foreclosure, according to LPS.

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Lender Processing Services Welcomes New CFO

Lender Processing Services, Inc. (LPS) has named Tom Schilling EVP and CFO. He replaces Francis Chan, who now serves the company as a consultant. With more than 20 years' experience as a CFO and COO at such publicly traded companies as USA Mobility, Cincinnati Bell's Broadwing, and MCI, Schilling is responsible for managing LPS's finances and select internal operations.

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