Mortgage Delinquencies Spike in September
Mortgage Delinquencies Spike in September
Mortgage Delinquencies Spike in September
Helpful
Tools
Mortgage
Calculator

Estimate your monthly payment for a home purchase or refinance
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about mortgage loans to find the one that's right for you
15 Year vs 30 Year
Loan Comparison

Compare payments between a 15 year and 30 year mortgage loan
Today's Mortgage
Rates

See today's current mortgage rates. Shop, compare and save.

October 23, 2012 (Shirley Allen)

Mortgage delinquencies increased for the first time in three months in September, jumping 7.72 percent from August and rising 4.19 percent above last year’s levels according to the latest “First Look” Mortgage Report released by Lender Processing Services (LPS).

The percentage of loans that were 30 days or more past due, but not yet in foreclosure, increased from 6.87 percent in August to 7.40 percent in September as nearly 270,000 new homeowners found themselves in trouble during the month. The huge influx of delinquencies pushed the delinquency rate 4.19 percent higher than in September 2011.

The good news is that the foreclosure inventory continued to decrease in September to a total of 1.940 million properties, down from 2.020 million properties in August, a decline of 80,000 properties. The foreclosure inventory was 7.37 percent lower than a year ago.

The number of properties in the shadow inventory however did increase, climbing from 1.520 million properties in August to 1.530 million properties in September, a gain of 10,000 properties.

In all, more homeowners found themselves in trouble as the total number of properties that were either delinquent or in some stage of foreclosure increased from 5.450 million in August to 5.640 million in September.

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): 7.40% compared to 6.87% in August 2012

Month-over-month change in delinquency rate: 7.72% compared to -2.3% in August 2012

Year-over-year change in delinquency rate: 4.19% compared to -10.6% in August 2012

Total U.S foreclosure pre-sale inventory rate: 3.87% compared to 4.04% in August 2012

Month-over-month change in foreclosure presale inventory rate: -4.05% compared to -1.0% in August 2012

Year-over-year change in foreclosure presale inventory rate: -7.37% compared to -2.0% in August 2012

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 3,700,000 compared to 3,430,000 in August 2012

Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,530,000 compared to 1,520,000 in August 2012

Number of properties in foreclosure pre-sale inventory: (B) 1,940,000 compared to 2,020,000 in August 2012

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 5,640,000 compared to 5,450,000 in August 2012

States with highest percentage of non-current* loans: FL, MS, NJ, NV, IL (FL, MS, NJ, NV, IL in August 2012)

States with the lowest percentage of non-current* loans: MT, AK, SD, WY, ND (MT, AK, SD, WY, ND in August 2012)

*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

Source:
LPS

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools
Mortgage
Calculator

Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates

See today's mortgage rates. Shop, compare and save.

October 23, 2012 (Shirley Allen)

Mortgage delinquencies increased for the first time in three months in September, jumping 7.72 percent from August and rising 4.19 percent above last year’s levels according to the latest “First Look” Mortgage Report released by Lender Processing Services (LPS).

The percentage of loans that were 30 days or more past due, but not yet in foreclosure, increased from 6.87 percent in August to 7.40 percent in September as nearly 270,000 new homeowners found themselves in trouble during the month. The huge influx of delinquencies pushed the delinquency rate 4.19 percent higher than in September 2011.

The good news is that the foreclosure inventory continued to decrease in September to a total of 1.940 million properties, down from 2.020 million properties in August, a decline of 80,000 properties. The foreclosure inventory was 7.37 percent lower than a year ago.

The number of properties in the shadow inventory however did increase, climbing from 1.520 million properties in August to 1.530 million properties in September, a gain of 10,000 properties.

In all, more homeowners found themselves in trouble as the total number of properties that were either delinquent or in some stage of foreclosure increased from 5.450 million in August to 5.640 million in September.

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): 7.40% compared to 6.87% in August 2012

Month-over-month change in delinquency rate: 7.72% compared to -2.3% in August 2012

Year-over-year change in delinquency rate: 4.19% compared to -10.6% in August 2012

Total U.S foreclosure pre-sale inventory rate: 3.87% compared to 4.04% in August 2012

Month-over-month change in foreclosure presale inventory rate: -4.05% compared to -1.0% in August 2012

Year-over-year change in foreclosure presale inventory rate: -7.37% compared to -2.0% in August 2012

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 3,700,000 compared to 3,430,000 in August 2012

Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,530,000 compared to 1,520,000 in August 2012

Number of properties in foreclosure pre-sale inventory: (B) 1,940,000 compared to 2,020,000 in August 2012

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 5,640,000 compared to 5,450,000 in August 2012

States with highest percentage of non-current* loans: FL, MS, NJ, NV, IL (FL, MS, NJ, NV, IL in August 2012)

States with the lowest percentage of non-current* loans: MT, AK, SD, WY, ND (MT, AK, SD, WY, ND in August 2012)

*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

Source:
LPS

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

October 23, 2012 (Shirley Allen)

Mortgage delinquencies increased for the first time in three months in September, jumping 7.72 percent from August and rising 4.19 percent above last year’s levels according to the latest “First Look” Mortgage Report released by Lender Processing Services (LPS).

The percentage of loans that were 30 days or more past due, but not yet in foreclosure, increased from 6.87 percent in August to 7.40 percent in September as nearly 270,000 new homeowners found themselves in trouble during the month. The huge influx of delinquencies pushed the delinquency rate 4.19 percent higher than in September 2011.

The good news is that the foreclosure inventory continued to decrease in September to a total of 1.940 million properties, down from 2.020 million properties in August, a decline of 80,000 properties. The foreclosure inventory was 7.37 percent lower than a year ago.

The number of properties in the shadow inventory however did increase, climbing from 1.520 million properties in August to 1.530 million properties in September, a gain of 10,000 properties.

In all, more homeowners found themselves in trouble as the total number of properties that were either delinquent or in some stage of foreclosure increased from 5.450 million in August to 5.640 million in September.

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): 7.40% compared to 6.87% in August 2012

Month-over-month change in delinquency rate: 7.72% compared to -2.3% in August 2012

Year-over-year change in delinquency rate: 4.19% compared to -10.6% in August 2012

Total U.S foreclosure pre-sale inventory rate: 3.87% compared to 4.04% in August 2012

Month-over-month change in foreclosure presale inventory rate: -4.05% compared to -1.0% in August 2012

Year-over-year change in foreclosure presale inventory rate: -7.37% compared to -2.0% in August 2012

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 3,700,000 compared to 3,430,000 in August 2012

Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,530,000 compared to 1,520,000 in August 2012

Number of properties in foreclosure pre-sale inventory: (B) 1,940,000 compared to 2,020,000 in August 2012

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 5,640,000 compared to 5,450,000 in August 2012

States with highest percentage of non-current* loans: FL, MS, NJ, NV, IL (FL, MS, NJ, NV, IL in August 2012)

States with the lowest percentage of non-current* loans: MT, AK, SD, WY, ND (MT, AK, SD, WY, ND in August 2012)

*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

Source:
LPS

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.