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Tag Archives: LPS

Foreclosure Starts Reach 2007 Levels, LPS Explains Rise in Delinquencies

In September, the nation's delinquency rate suddenly spiked 7.7 percent from August, according to data from Lender Processing Services (LPS). The data provider explained the surge in its recent Mortgage Monitor report for September. For one, first time delinquencies increased by about 200,000 from the month before as more borrowers rolled into 30 day delinquency status. Despite the increase, other numbers were still down. Foreclosure starts hit their lowest level since September 2007 and were down 27.9 percent yearly.

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LPS Exec Selected to Lead New MISMO Committee

A Lender Processing Services, Inc. (LPS) executive was appointed chair of the strategic planning committee for the Mortgage Industry Standards Maintenance Organization (MISMO). Randy Gills, SVP of enterprise information management for LPS' servicing solutions and technology division, was selected to lead the newly formed strategic planning committee.

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LPS Settles with Colorado AG for $1.8M

Lender Processing Services, Inc. (LPS) reached a settlement with Colorado Attorney General John Suthers for $1.8 million over former document execution practices by LPS subsidiaries, DocX, LLC and LPS Default Solutions.

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LPS: Home Prices Continue to Improve in August, but Slow Monthly

Lender Processing Services' Home Price Index, which reflects transacted sales rather than recorded sales, revealed that the average U.S. home price increased to $205,000 in August, up 0.2 percent from July. The average home price in August 2011 was $199,000, or 2.6 percent less than this year's reading. The most recent price increase brings the HPI up 4.6 percent from January 2012. Minnesota and Michigan led all states in month-over-month price gains, reaching growth of more than one percent.

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LPS Releases REO Workspace

Lender Processing Services (LPS) released a new REO Web-enabled technology that offers supports for servicers as they manage and dispose REO assets.

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LPS: Delinquency Rate Suddenly Spikes in September

Foreclosure inventory continued to diminish in September, but the delinquency rate saw a sudden month-over-month surge, according to the ""first look"" mortgage report from Lender Processing Servicers (LPS), which has a loan-level database covering about 70 percent of the market. The delinquency rate, which stood at 7.40 percent in September, hiked up 7.72 percent from August, but is still down by 4.19 percent from a year ago.

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LPS: Home Prices Up in July, New England Struggling to Keep Pace

Home prices saw a slight boost from June to July, according to the latest home price index (HPI) report from Lender Processing Services (LPS). Based on transactions recorded across the country in July, the HPI experienced a 0.2 percent bump up to $204,000. While the boost is a relatively small month-to-month increase, it represents a more significant 4.3 percent increase from the beginning of 2012 and a 1.8 percent increase from July 2011.

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Delinquencies Fall Further in LPS First-Look August Data

According to data released Monday, the total delinquency rate (for loans 30 or more days past due but not in foreclosure) was 6.87 percent in August, down 2.3 percent from July. Year-over-year, delinquencies fell 10.6 percent. An estimated 3,430,000 properties were 30 days or more past due (but not in foreclosure) at the end of August. Approximately 1,520,000 were 90 or more days delinquent but not in foreclosure.

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