Lender Processing Services, Inc. Publishes Mortgage Monitor Report for September 2010
Mortgage Foreclosures - Lender Processing Services Releases Latest Report
Data contained in the latest September Mortgage Monitor report published by Lender Processing Services, Inc. indicate that although the number of delinquencies recorded during the month of September decreased by a very significant 7.8 percent when compared with the number of delinquencies recorded during the same month last year, the delinquency rate remains at an extremely high level when compared to normal market conditions.
The report also highlighted the fact that the foreclosure process had begun on a further 275,000 or so home loans during the month of September, and the fact that over 4.3 million home loans were delinquent by at least 90 days, or already in foreclosure.
The September Mortgage Monitor report also indicated that around 1.13 million home loans that had been current as at January 1, 2010 were now over 60 days delinquent, or already in foreclosure, highlighting another growing trend – the report states that approximately 1.84 percent of the home loans that were current just six months previously are now at least 60 days delinquent. With regards to home loans that were at least 90 days delinquent, the report indicated that on average, home loans which belonged to the category of being delinquent by at least 90 days, were delinquent by an incredible 316 days.
