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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.

Further Improvement in Delinquency Rate

Non-current rate down 22 BPS in March

April 23, 2013

By Mortgage Daily staff

The number of U.S. mortgages that were at least a month past due or in foreclosure slipped just below 5 million last month from just over 5 million. Delinquency has declined for six straight months.

As of March 31, there were 4,997,000 home loans that were at least 30 days delinquent or in the process of foreclosure.

A month earlier that figure was 5,104,000, while the number of loans either past due or in foreclosure stood at 5,591,000 in the same month last year.

Lender Processing Services Inc., which reported the data, indicated that the number of delinquent loans, excluding properties in the foreclosure pre-sale inventory, was 3,308,000, while the foreclosure pre-sale inventory was 1,689,000​.

The non-current rate, which includes properties in the foreclosure pre-sale inventory, was 9.96 percent, improving from 10.18 percent in February. Delinquency was 11.23 percent as of March 31, 2012.

The non-current rate has retreated each month since September 2012, when it was 11.27 percent.

Last month's non-current rate was highest in Florida, New Jersey, Mississippi, Nevada and New York.

Montana, Alaska, Wyoming, South Dakota and North Dakota had the most favorable rates.

Excluding foreclosures, the 30-day rate fell to 6.59 percent from 6.80 percent and was 7.09 percent in the year-earlier period.

The foreclosure pre-sale inventory rate dipped to 3.37 percent from 3.38 percent. In March 2012, the rate was 4.14 percent.

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