twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


Delinquency Falls in February

LPS reports 13.236% delinquency of 30 days

April 12, 2010

By MortgageDaily.com staff


A monthly increase in 30-day delinquency and foreclosures in process was more than offset by an improvement in 60- and 90-day accounts.

As of Feb. 28, there were 52,045,097 residential first mortgages outstanding, fewer than 52,121,623 a month earlier and 52,711,113 a year earlier, according to the latest LPS Mortgage Monitor. The findings were extrapolated from data maintained by Lenders Processing Services Inc., which claims to maintain records on 70 percent of outstanding U.S. first liens.

Residential delinquency of at least 30 days, including foreclosures and based on the number of loans, was 13.236 percent in February. In January, non-current home loans were 13.370 percent. Still, late payments were higher than 10.251 percent in February 2009.

LPS said that more than 1.1 million loans rolled from a current status in January to 30 days' delinquent in February, with the rate of new problem loans climbed to its highest level in five years.

The number of loans that were at least 60 days' delinquent fell to 736,476 in February from 812,211, while 90-day accounts fell to 2,573,847 from 2,584,294 in January.

But the number of 30-day accounts climbed to 1,791,633 from 1,791,484. In addition, loans in foreclosure rose to 1,786,613 from 1,780,917, while the foreclosure rate was a record 3.433 percent -- higher than 3.417 percent the prior month and 2.281 percent the prior year.

"As a result of the federal government's Home Affordable Modification Program, delinquent loans that were modified and that remained current through HAMP's three-month trial period -- called 'cures-to-current' -- have increased," the announcement stated. "Advanced delinquency rolls, however, remain elevated from a historical perspective."

In all, around 8.0 million loans were either at least 30 days' delinquent or in real-estate-owned status as of Feb. 28, edging down around 1 percent from the prior month.

The states with the highest non-current rates were Florida, at 23.8 percent; Nevada, which had a 23.3 percent rate; and Arizona, where delinquency was 16.3 percent. No. 4 Mississippi had a 17.5 percent rate, and No. 5 California came in at 15.3 percent.

North Dakota's 4.7 percent was the best of any state.

next story

back to current headlines



Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders