Early data provided by Lender Processing Services (LPS) from
its upcoming Mortgage Monitor report
show that both national mortgage delinquencies and the foreclosure presale
inventory dropped sharply in October. Statistics from LPS's database represent
approximately 70 percent of the mortgage loans serviced by major lenders.
At the end of October the total U.S. mortgage delinquency
rate including loans that were 30+ days past due but not in foreclosure was
7.03 percent. This represents a decline
of 4.91 percent from September and a -7.19 change from October 2011. Nationwide there were 3.5 million loans that
were more than 30 days past due and 1.54 million that were 90 or more days past
due. Loans that are in a formal process
of foreclosure are not included in those totals.
The foreclosure pre-sale inventory rate (loans that have
started the foreclosure process) was 3.61 percent, down 6.77 percent from the
previous month and 15.99 percent from one year earlier. There were 1.8 million homes in the pre-sale
inventory and a total of 5.3 million homes in delinquency or foreclosure.
The LPS Mortgage
Monitor with complete details on these figures will be published in early