Delinquency Rate Falls Below 6.5% For First Time Since July 2008

Posted by Orb Staff on May 23, 2013 No Comments
Categories : Mortgage Servicing

According to new figures from Lender Processing Services Inc. (LPS), a provider of integrated technology, data and analytics to the mortgage and real estate industries, the U.S. loan delinquency rate in April reached 6.2% – the first sub-6.5% rate since July 2008.

The company has also found that the month-over-month change in delinquency rate was -5.81%, while the year-over-year change in delinquency rate was -9.61%.

The total U.S. foreclosure pre-sale inventory rate reached 3.17%, a month-over-month change of -5.83% and year-over-year change of -24.55%. In all, 3,111,000 properties were found to be 30 or more days past due, but not in foreclosure, and 1,394,000 were found to be 90 or more days delinquent, but not in foreclosure.   Â

States with the highest percentage of non-current loans included Florida, New Jersey, Mississippi, Nevada and New York, according to LPS. Conversely, Montana, Wyoming, Alaska and North Dakota boasted the lowest percentage of non-current loans.

LPS' April 2013 month-end mortgage performance statistics are derived from its loan-level database, representing approximately 70% of the overall market.

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