Lender Processing Services (LPS) has
provided its regular advanced release of data from its Mortgage Monitor. This "first
look" at April 2013 month-end mortgage performance data will be followed by the
full report in early June.
LPS reports that the total loan
delinquency rate - loans 30 or more days past due but not in foreclosure - was
6.21 percent in April, down 5.81 percent from March and 9.61 percent from April
2012. Just over 3.11 million loans are
currently delinquent but not in foreclosure and 1.394 million of these are over
90 days past due.
Loans that are in foreclosure - the so
called foreclosure inventory - now number about 1.59 million properties, 3.17
percent of U.S. mortgages. The inventory
is down 5.83 percent month over month and has dropped by almost 25 percent
since April 2012.
States with the highest percentage of
delinquent loans and loans in foreclosure are little changed from recent
months; Florida, New Jersey, Mississippi, Nevada, and New York top the list.
derives its performance statistics from its loan-level database representing
approximately 70 percent of the overall mortgage market.