Lender Processing Services, which tracks loan performance on 40 million mortgages, said delinquencies fell 3% in November from the prior month, but declined almost 16% year-over-year.
Roughly, 9.2% of all home mortgages are 30-days or more past due, excluding foreclosures.
Although LPS saw an improvement in late payments, foreclosure "pre-sale" inventories rose 8% year-over-year, with almost 4.8 million mortgages 30 or more days past due (but not in foreclosure.)
The Jacksonville, Fla.-based analytics firmed noted that its findings are based on a "first look" at November month-end mortgage performance statistics derived from its database. (According to the Quarterly Data Report and National Mortgage News, there are roughly 58.3 million of outstanding home mortgages in the U.S.)
