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Tag Archives: LPS

LPS Announces Board of Directors Appointment

Lender Processing Services, Inc. announced the appointment of Dan Carmichael to its board of directors. Carmichael also serves as the chairman of the board at Platinum Underwriters Holdings and is on the board for EagleEye Analytics and Dovetail Insurance Corporation.

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LPS Resolves ‘Robo-Signing’ Allegations in $127M Multistate Settlement

Forty-six state attorneys general and the District of Columbia reached a settlement agreement with Lender Processing Services, Inc. and its subsidiaries—LPS Default Solutions and DocX—to resolve allegations concerning the company’s foreclosure practices. As part of the multistate settlement, LPS agreed to pay $127 million. LPS previously resolved similar claims in Missouri, Delaware, and Colorado, leaving the company with one unresolved claim from Nevada.

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LPS: November Prices Up from Prior Month and Year

Home prices continued to inch up in November, according to Lender Processing Services' (LPS) Home Price Index (HPI) for the month. LPS' data showed home prices increased to an average $207,000 in November, an increase of 0.5 percent from $206,000 in October. On a year-over-year basis, prices were up 5.1 percent from November 2011's $197,000. Florida topped the list of states to see the largest price gains in November, posting a 1.5 percent month-over-month improvement.

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LPS: Foreclosure Inventory, Delinquency Rates Decrease from Year Ago

Lender Processing Services (LPS) offered preliminary data on mortgage performance in December, revealing foreclosure inventory and delinquency rates were both down year-over-year. The foreclosure pre-sale inventory rate fell to 3.4 percent in December. The figure represents a 2 percent decrease from November and an 18 percent drop from December 2011. The delinquency rate, or loans past due 30 or more days, stood at 7.2 percent at the end of December, which is a slight 0.7 percent increase from November and a 9.1 percent decrease from a year ago.

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LPS: Foreclosure Inventory Falls, Expect to See a ‘Rebound’ in Starts

Foreclosure inventory in November fell as requirements from the national mortgage settlement ""influence the pace of first-time foreclosure starts,"" Lender Processing Services (LPS) stated in a recent report. Foreclosure inventory shrunk to 3.51 percent in November, a near 10 percent decline from September 2012. LPS explained the settlement requires the servicers to provide a 14 day notice before referring borrowers to foreclosure, and the letters were sent starting in September. However, as servicers get up to speed on settlement requirements, LPS says it expects foreclosure starts to rebound in the coming months.

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LPS: Delinquencies Increase Slightly, Foreclosure Inventory Shrinks

Lender Processing Services, Inc. (LPS) offered an early look into delinquency and foreclosure trends for November. 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. 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.

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LPS: Foreclosure Starts Plummet in October

Foreclosure starts fell even further in October after a steep drop in September, according to data from Lender Processing Services (LPS). In October, foreclosure starts numbered about 124,000, which represents a 22 percent decline from September to October and a 48 percent decrease from October 2011. LPS explained the plunge in foreclosure starts was likely driven by new borrower notification requirements outlined in the national mortgage settlement. However, LPS believes the influence of the national mortgage settlement will not have a lasting effect.

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LPS: Home Prices See Slight Monthly Increase in September

Home prices rose just slightly over the month of September, demonstrating a 0.1 percent increase from August, according to Lender Processing Services' Home Price Index, which analyzes home prices in more than 15,500 ZIP codes each month. The September Home Price Index stands at $205,000, according to LPS. While the 0.1 percent increase is slight, LPS does report more significant change on a yearly and year-to-date basis. Home prices have risen 3.6 percent from last September and 4.9 percent over the year thus far.

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Delinquency Rate Falls After Spiking in September

After suddenly jumping 7.7 percent in September, the nation's delinquency rate fell in October, according to first look data from Lender Processing Services (LPS). The delinquency rate stood at 7.03 percent in October, a decrease of 4.91 percent from September and 7.19 percent from last year. Historically, LPS says the delinquency rate is actually expected to tick up in October due to seasonal effects. Overall, the number of properties 30 days or more past due or in foreclosure numbered 5.3 million.

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Santa Fe Realtors Select LPS’ Paragon as New MLS System

The Santa Fe Association of Realtors (SFAR) is pairing up with Lender Processing Services, Inc. (LPS) for the company’s Paragon MLS system. Paragon MLS will be used to serve more than 900 SFAR and member affiliates in the Sante Fe, Los Alamos and Rio Arriba counties in New Mexico.

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