|
|
|
|
|
|
Complete list of specialty news sections.
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.
Reach mortgage executives, loan originators and other people tied to mortgage industry.
Free mortgage news for prospective borrowers.
Free e-mail newsletter with the latest headlines from MortgageDaily.com.
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.
Archive of MortgageDaily.com stories by month going back to 1999.
Reports and announcements from MortgageDaily.com.
Data and statistics for real estate finance.
Directories of lenders, branch operators and mortgage service providers.
Directories of lenders, branch operators and mortgage service providers.
|
|
|
|
|
|
|
| Delinquency Drops, Repos Rise
30-day delinquency, including foreclosures, down 17 BPS
Feb. 28, 2013
By Mortgage Daily staff
|
Nearly a million borrowers on residential loans have moved out of the non-current category over the past year. Last month saw delinquency decline and foreclosures in process subside, but the number of repossessions moved higher.
Fewer borrowers, 5,208,000, were past due at least 30 days or in the process of foreclosure on their residential loans as of Jan. 31 than at the end of December, when 5,292,000 home loans were delinquent. At the same point last year, 6,082,000 mortgages were in the 30-day category.
The latest loan count consisted of 3,506,000 past-due loans not in the process of foreclosure and 1,703,000 loans in the foreclosure pre-sale inventory.
Lender Processing Services Inc., which reported the data, said the total delinquency rate, including foreclosures, closed out last month at 10.44 percent, improving from 10.61 percent as of Dec. 31, 2012.
Mortgage servicers have made a substantial improvement since the same point last year, when the non-current rate was 12.12 percent.
States with highest rate of non-current loans were Florida, Mississippi, New Jersey, Nevada and New York.
The best-performing states were Montana, Alaska, Wyoming, South Dakota and North Dakota.
The 30-day U.S. rate, excluding foreclosures, fell to 7.03 percent from 7.17 percent at the end of 2012 and 7.97 percent as of Jan. 31, 2012.
A 3-basis-point decline from December left the pre-sale foreclosure inventory rate at 3.41 percent. Foreclosures have subsided from one year earlier, when the foreclosure inventory rate was 4.15 percent.
A separate report released Thursday from CoreLogic had the foreclosure inventory rate at 2.9 percent, lower than 3.5 percent 12 months prior.
CoreLogic's report also indicated that 61,000 U.S. foreclosures were completed in January, worsening from 56,000 in the final month of 2012. But repossessions have been reduced from January 2012, when 75,000 foreclosures were completed.
CoreLogic noted that monthly foreclosures averaged just 21,000 prior to the housing market decline in 2007.
California accounted for 96,000 of January's real-estate-owned filings -- the most of any state. Florida's 95,000 followed, then 74.000 in Michigan, 59,000 in Texas and 50,000 in Georgia.
Washington, D.C., had just 96 repossessions in January, while Hawaii had 458 -- the fewest of any state. |
next story
back to current headlines
|
|
|
|
|
