January 20, 2011 (Shirley Allen)

Lender Processing Service (LPS) released its monthly “First Look” Mortgage Report for December 2010 yesterday which is derived from its loan-level database of nearly 40 million loans. The month-end data shows a rise in foreclosure inventories with a slight decrease in the delinquency rate.

The “First Look” report contains highlights of the company’s forthcoming Mortgage Monitor report which will provide a more in-depth review including an analysis of data supplemented by in-depth charts and graphs that reflect trend and point-in-time observations.

Early highlights of the report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 8.83%

Month-over-month change in delinquency rate: -2.1%

Year-over-year change in delinquency rate: -17.9%

Total U.S foreclosure pre-sale inventory rate: 4.15%

Month-over-month change in foreclosure presale inventory rate: 1.7%

Year-over-year change in foreclosure presale inventory rate: 9.3%

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 4,674,000

Number of properties that are 90 or more days delinquent, but not in foreclosure: 2,117,845

Number of properties in foreclosure pre-sale inventory: (B) 2,196,000

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 6,870,000

States with highest percentage of non-current* loans: FL, NV, MS, GA, NJ

States with the lowest percentage of non-current* loans: MT, WY, AK, SD, ND

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

Notes:
(1) Totals are extrapolated based on LPS Applied Analytics’ loan-level database of mortgage assets
(2) All whole numbers are rounded to the nearest thousand

Tags: LPS, mortgage delinquency rate, foreclosure inventory, non-current loans