LPS: Delinquency Rate Drops in January
The national loan delinquency rate fell on a monthly and annual basis through January, Lender Processing Services said in a report.
According to the Jacksonville, Fla.-based analytic firm’s “first look” report that analyzes mortgage performance statistics derived from its loan-level database representing approximately 70% of the overall market, 7.03% of loans are 30 or more days past due, but not in foreclosure.
This figure is 2.03% less than the previous month and is also down 8.35% from last year.
LPS said about 3.5 million properties are 30 days delinquent and not in foreclosure. Furthermore, 1.5 million are considered to be seriously delinquent, but not in foreclosure.
Through January, the foreclosure presale inventory is a little more than 1.7 million housing units, accounting for 3.41% of the market. Over the last year, the foreclosure inventory rate has fallen by 19.39%.
Similar to December’s report, the highest percentage of noncurrent loans are located in Florida, Mississippi, New Jersey, Nevada and New York.
On the other hand, Montana, Alaska, Wyoming, South Dakota and North Dakota have the most performing loans.