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LPS: Mortgage Delinquency Rate Declined Further in August, In-Foreclosure Rate Lowest in 4 1/2 Years

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
August 2013 July 2013 August 2012
Delinquent 6.20% 6.41% 6.87%
In Foreclosure 2.66% 2.82% 4.04%
Number of properties:
Number of properties that are 30 or more, and less than 90 days past due, but not in foreclosure: 1,836,000 1,846,000 1,910,000
Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,288,000 1,347,000 1,520,000
Number of properties in foreclosure pre-sale inventory: 1,341,000 1,406,000 2,020,000
Total Properties 4,465,000 4,599,000 5,450,000

Back to September 2013 Archive

CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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