Mortgage deqlinquencies decline in September; Foreclosures on the rise

The “first-look” report from Lender Processing Services, one of the countries largest loan servicers and aggregators of loan performance data, shows mortgage delinquencies decreased 0.5 percent in September from the month before and decreased 12.7 percent from the year before. On the other hand, and perhaps part of the reason for the decline in the delinquency rate, the foreclosure rate increased in September by 1.7 percent from the prior month and was up 8.9 percent from the year before.

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 8.09%
Month-over-month change in delinquency rate: -0.5%
Year-over-year change in delinquency rate: -12.7%
Total U.S. foreclosure pre-sale inventory rate: 4.18%
Month-over-month change in foreclosure presale inventory rate: 1.7%
Year-over-year change in foreclosure presale inventory rate: 8.9%
Number of properties that are 30 or more days past due, but not in foreclosure: (A) 4,202,000
Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,844,000
Number of properties in foreclosure pre-sale inventory: (B) 2,172,000
Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 6,373,000
States with highest percentage of non-current* loans: FL, MS, NV, NJ, IL
States with the lowest percentage of non-current* loans: MT, AK, WY, SD, ND

Source: Lenders Processing Services – “First Look” Report

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