LPS: Mortgage Delinquency Rate Climbed 4.23% In September

Posted by Patrick Barnard on October 23, 2013 No Comments
Categories : Residential Mortgage

The national mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) increased 4.23% in September to reach 6.46% of all mortgages, according to Lender Processing Services' (LPS) First Look Mortgage Report, which covers about 70% of the U.S. housing market.

Still, the delinquency rate for September was down 12.63% compared to September 2012.

Meanwhile, the rate of foreclosure fell to 2.63% of all loans – a decrease of 1.29% compared to August and down a whopping 32.18% compared to September 2012.

For September, LPS counted 3.26 million properties that were 30 or more days past due, but not in foreclosure, and another 1.33 million that were 90 or more days past due, but not in foreclosure. About 1.32 million properties were in foreclosure pre-sale inventory.

About 4.6 million properties were either 30 or more days delinquent or in foreclosure.

States with the highest percentage of non-current loans included Florida, Mississippi, New Jersey, New York and Maine.

States with the lowest percentage of non-current loans included Wyoming, Montana, Arkansas, South Dakota and North Dakota.

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