The national foreclosure rate jumped over 4 percent in September Lender
Processing Services, Inc. (LPS) said today, but the foreclosure inventory
continued to decline. LPS, a data and analytics
company, released a preview on Wednesday of selected delinquency statistics
from its monthly Mortgage Monitor report.
The full report will be available in
The rate of mortgage loans that were 30-days or more past due increased
by 4.23 percent from August to a national rate of 6.46 percent. That rate was 12.63 percent below the level
of September 2012. The September rate equates
to a total of 3.27 million loans that are delinquent but not yet in foreclosure. Of these, 1.33 million are seriously
delinquent, that is 90 or more days past due but not in foreclosure.
The foreclosure pre-sale inventory currently consists of 1.33 million
delinquent loans. This is a national
rate of 2.63 percent, a decrease of 1.29 percent from August. The inventory, loans that are in some stage
of foreclosure, has fallen 32.18 percent since September 2012.
The total number of non-current loans in the U.S. is now 4.59 million. Florida, Mississippi, New Jersey, New York,
and Maine have the highest percentage of non-current loans, a designation that
includes both delinquent loans and loans in foreclosure.