LPS: More Loans Rolling Into Foreclosure

Posted by Orb Staff on September 16, 2010 No Comments
Categories : Mortgage Servicing

The U.S. delinquency rate at the end of August was 9.22%, according to a recent report from Lender Processing Services Inc. That figure, which does not include loans in foreclosure, represents a 1% drop from July.

However, the total U.S. foreclosure pre-sale inventory rate stood at 3.8% – a 1.5% increase from the month before and a nearly 5% increase from August 2009.

According to the LPS database, more than 6.98 million loans were at least 30 days delinquent or in foreclosure.

Florida, Nevada, Mississppi, Georgia and Illinois were the states with the highest percentage of non-current loans, the firm reports.

Data in the report are derived from the company's loan-level database of nearly 40 million loans.

SOURCE: Lender Processing Services

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