Initial report shows mortgage delinquencies leveled off in October; foreclosure inventory increased

A “first-look” report issued by Lender Processing Services, one of the countries largest loan servicers and aggregators of loan performance data, is somewhat encouraging as it shows the U.S. mortgage delinquency rate (not including foreclosures) for October was 9.29 percent and, while that is a terribly high rate, it is just barely higher than Septembers’ rate of 9.27 percent. Mortgage delinquencies are a “leading indicator” of foreclosures, so perhaps that means we are getting close to the foreclosure activity leveling off. Continue reading “Initial report shows mortgage delinquencies leveled off in October; foreclosure inventory increased

Initial report shows increased mortgage delinquencies and foreclosure inventory in September


Dennis Norman

A “first-look” report issued by Lender Processing Services, one of the countries largest loan servicers and aggregators of loan performance data, shows that things are not getting better on the “home-front”….The U.S. mortgage delinquency rate (not including foreclosures) for September was 9.27 percent, a 0.6 percent increase from the month before, however it is a 7.8 percent decrease from the year before. The foreclosure rate for September was 3.84 percent, a 1.1 percent increase from the month before and a 3.6 percent increase from the year before.

Continue reading “Initial report shows increased mortgage delinquencies and foreclosure inventory in September