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Tag Archives: LPS

Drop in Non-Current Loans About 7Xs Higher in Non-Judicial States: LPS

The percentage of loans not current, which includes 30-plus delinquencies and foreclosures, declined almost 7 times more in non-judicial states compared to judicial states, according to the LPS Mortgage Monitor report for April. Year-over-year, non-judicial states saw an 8.2 percent drop in non-current loans while in judicial states, the yearly decrease was only 1.2 percent. Foreclosure starts numbered 181,584 in April, down 2.6 percent from the previous of March and a 3.1 percent drop from a year ago. On the other hand, FHA foreclosure starts saw a 73 percent increase.

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Preliminary LPS Report Shows Slight Rise in Delinquencies After Declines

Lender Processing Services (LPS) provided a peak into month-end data for mortgage performance in April 2012, and reported after 9 months of declines, mortgage delinquencies increased. The total delinquency rate for loans 30 days or more past due but not in foreclosure was 7.12 percent, a 0.4 percent month-over-month increase. Compared to a year ago, the delinquency rate was down by 10.6 percent.

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Foreclosure Inventory Still High, but It’s Much Lower in Judicial States

While delinquencies saw a decline and reached their lowest level since August 2008, foreclosure inventory stayed near historic highs, according to data from the March Mortgage Monitor report released by Lender Processing Services (LPS). The rate for delinquencies was 7.09 percent in March, down 6.3 percent when compared to the previous month and down 8.8 percent compared to a year ago in March. When broken down by judicial processes, non-judicial states had a significantly lower rate of properties in foreclosure inventory at 2.45 percent, while judicial states were above the national average at 6.51 percent.

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Mortgage Delinquencies Head Further South

Mortgage delinquencies fell back on both a monthly and annual basis in March, according to preliminary market data released by Lender Processing Services (LPS) for the month. The company's estimation puts the national delinquency rate - measured as 30 or more days past due but not in foreclosure - at 7.09 percent. At the same time, the foreclosure rate inched up ever so slightly to 4.14 percent. Altogether, the numbers equate to just over five-and-a-half million properties in foreclosure or past due on their debt.

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LPS Reports January Home Prices Down 0.9 Percent

Home prices for January 2012 dropped 0.9 percent, an even greater increase from the 0.4 percent drop in December 2011, according to Lender Processing Services' Home Price Index (HPI). For January, home prices averaged at $195,000, dropping from December’s average of $196,000.

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Loan Performance Improves, Foreclosure Starts Down, LPS Reports

Across the board, loan performance improved for February, and foreclosure starts were down compared to the month before in January, according to a report from LPS Applied Analytics. Despite the decrease in foreclosure starts, foreclosure inventory still remains near historic highs, while delinquency rates are at their lowest level since August 2008. Foreclosure starts were down 15.2 percent compared to the previous month, reversing the increase seen during January. Foreclosure inventory was at 4.13 percent in February, a 0.5 percent monthly decrease, but still remains high. In December 2005, foreclosure inventory was at 0.48 percent.

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Number of Overdue Mortgages Drops to 5,846,000

The number of delinquent mortgages continued declining into February based on comparisons for both the prior month and year, according to data from Lender Processing Services (LPS). The delinquency rate, which consists of loans at least 30 or more days past due but not in foreclosure, dropped 5 percent on a month-over-month basis, and 14 percent compared to the same time last year in February. Overall, 5,846,000 properties were either 30 or more days delinquent or in foreclosure in February.

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When Excluding Distressed Sales, Home Prices Show Monthly Gain

While home prices declined on a year-over-year basis in January 2012, a month-over-month gain was seen when excluding distressed sales, according to CoreLogic's January Home Price Index (HPI). Prices declined 3.1 percent in January 2012 compared to a year ago in January 2011. But, when excluding distressed sales, year-over-year prices declined by 0.9 percent, and a month-over-month gain of 0.7 percent was seen for January. Distressed sales include short sales and REO transactions.

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Foreclosures Spike in January: Is the Backlog Clearing?

Data through the end of January shows significant movement in both foreclosure starts and sales, and it has some market watchers saying the lull in foreclosure activity seen over the past year-and-a-half may very well be coming to an end. Lender Processing Services' (LPS) latest market report says foreclosure starts jumped 28 percent between December and January, and foreclosure sales soared 29 percent. It also shows that 47 percent of all foreclosures started during the month were repeat foreclosures.

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