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LPS Reports a Spike in Loan Cures in February

Lender Processing Services (LPS) reported a spike in cure rates in February. About 500,000 loans were cured, or went from being delinquent to current, in February, with most of the cures reported on loans that were just one or two months past due, according to LPS' February Mortgage Monitor report. LPS also found an increase in modifications over the last two quarters after two years of decreases.

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Delinquency Rate Slides Under 7% in February: LPS

The mortgaged delinquency rate in February slipped below 7 percent, according data from Lender Processing Services, Inc. (LPS). On Tuesday, LPS provided an early look at month-end mortgage performance data for February and found the delinquency rate is at 6.80 percent, down 3.16 percent from January's 7.03 percent and a decrease of 6.51 percent from February 2012. At the same time, the foreclosure pre-sale inventory rate averaged 3.38 percent, which represents a 0.98 percent month-over-month decline and a 19.58 percent decrease year-over-year.

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LPS: Home Price Increases Continue into January

National home prices continued to recover in January, but prices were still far below their peak, according to the Home Price Index (HPI) report from Lender Processing Services, Inc. (LPS). In January, national home prices averaged $208,000, up 0.3 percent from December and 6.7 percent year-over-year. However, prices were still 21.4 percent below their June 2006 peak. The state that led with the biggest monthly price increase was Georgia, where prices were up 1.6 percent. Three hard-hit states--Arizona, California, and Florida--saw respective price gains of 1 percent, 0.7 percent, and 0.4 percent.

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Former Treasury Secretary Joins LPS as Board Member

A former Treasury secretary is joining Lender Processing Services' (LPS) board of directors, the company announced. John Snow, Ph.D., was appointed to serve on the risk and compliance committee of the Florida-based company's board of directors.

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Firm Grip on Foreclosure Inventory Continues in Judicial States

Although rates for foreclosure starts and sales remain volatile, one underlying trend continues: foreclosure inventory in judicial states is still three times higher than that of non-judicial states, according to Lender Processing Services (LPS). As of the end of January 2013, the share of loans in foreclosure inventory in judicial states stood at 5.69 percent compared to 1.79 percent for non-judicial states, according to LPS' mortgage monitor report. LPS also revealed at the current rate, it will take 62 months to clear foreclosure inventory in judicial states compared to 32 months in non-judicial states.

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Delinquencies, Foreclosures See Downward Trend in January: LPS

Lender Processing Services, Inc. (LPS) offered an early look at mortgage performance in January 2013 and reported a downward trend for mortgage delinquencies and foreclosures. At the end of January, the mortgage delinquency rate, which includes loans 30 days or more past due, stood at 7.03 percent, representing a 2.03 percent decline from December 2012 and an 8.35 percent decrease from January 2012. Meanwhile, the national foreclosure pre-sale inventory rate averaged 3.41 percent, falling 0.82 percent month-over-month while making a steep 19.39 percent drop year-over-year.

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LPS: December Prices Climb 5.8% from Year Ago

Home prices in December were mostly flat from the month before, according to the latest Home Price Index (HPI) released by Lender Processing Services (LPS). LPS' index shows prices climbed 0.1 percent in December, staying at a rounded-off $207,000. November's HPI was also reported at $207,000. While December's index was little changed from the prior month, it was up 5.8 percent from $196,000 in December 2011.

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LPS Releases It’s Listed! Alerts

Florida-based Lender Processing Services, Inc. (LPS) introduced It's Listed! Alerts as a way to let servicers know when properties in their portfolios show up on the Multiple Listing Service (MLS).

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LPS Settles Federal Mortgage Fraud Inquiry for $35M

Lender Processing Services Inc. (LPS) agreed to pay $35 million to resolve criminal fraud violations involving fraudulently signed and notarized mortgage documents, the Justice Department announced Friday. LPS entered into a non-prosecution agreement with the department and the U.S. Attorney's Office for the Middle District of Florida. Through the settlement, LPS announced it will pay $20 million to the United States Marshals Service and $15 million to the United States Treasury. In a statement, Hugh Harris, LPS president and CEO, said, ""[t]he conclusion of the Justice Department's inquiry is another positive step for LPS.""

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