Home Foreclosures - New Loan Deliquency Figures Released

Lender Processing Services, Inc., an established provider of integrated technology, data and analytics to the mortgage and real estate industries, recently released its “first look” report for the month of August, which considers mortgage performance statistics obtained from its loan level database which consists of around 40 million mortgage loans.

The August “first look” report indicates that the total U.S. loan delinquency rate, which includes home loans that are 30 or more days past due, but not yet in foreclosure, currently stand at 9.22%, which represents a month-over-month change in delinquency rate of -1.0% and a year-over-year change in delinquency rate of-5.1%.

The total U.S. foreclosure pre-sale inventory rate for the month of August currently stands at 3.80% according to the report, which represents a month-over-month change in foreclosure pre-sale inventory rate of 1.5% and a year-over-year change in foreclosure pre-sale inventory rate of 4.9%.

The report also indicates that the number of properties that are 30 or more days past due, but not in foreclosure is 4,947,000, while the number of properties that are 90 or more days delinquent, but not in foreclosure is 2,374,000. The report further recorded the number of properties in foreclosure pre-sale inventory as 2,038,000, with the number of properties that are 30 or more days delinquent or in foreclosure as being 6,985,000.

The report also indicated that the states with highest percentage of non-current loans (which combines foreclosures and delinquencies as a percent of active loans in that State) are FL, NV, MS, GA, IL, whilst the States with the lowest percentage of non-current loans are MT, WY, AK, SD, ND.

Lender Processing Services, Inc. plans to release a more in-depth review of the data in its monthly Mortgage Monitor report, which is to be released on September 24, 2010.