calculatedriskblog.com | September 30, 2013
According to the First Look report for August to be released today by Lender Processing Services (LPS), the percent of loans delinquent decreased in August compared to July, and declined about 10% year-over-year. Also the percent of loans in the foreclosure process declined further in August and were down 34% over the last year.
LPS reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) decreased to 6.20% from 6.41% in July. The normal rate for delinquencies is around 4.5% to 5%.
The percent of loans in the foreclosure process declined to 2.66% in August from 2.82% in July. The is the lowest level in 4 1/2 years.
The number of delinquent properties, but not in foreclosure, is down 306,000 properties year-over-year, and the number of properties in the foreclosure process is down 679,000 properties year-over-year.
LPS will release the complete mortgage monitor for August in early October.
|LPS: Percent Loans Delinquent and in Foreclosure Process
|Number of properties:
|Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure:
|Number of properties that are 90 or more days delinquent, but not in foreclosure:
|Number of properties in foreclosure pre-sale inventory:
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