Lender Processing Services Inc., a provider of integrated technology, data and analytics to the mortgage and real estate industries, reported June 2012 month-end mortgage performance statistics derived from its loan-level database representing approximately 70 percent of the overall market.
With the June 2012 month-end data, LPS has updated its extrapolation methodology to incorporate improved estimates of market size, which includes higher coverage of government and subprime products and increases LPS’ estimate of the total first lien residential mortgage market by three percent to 50.4 million. To ensure consistency in trend analysis, the new methodology has been applied to all historical data and previously reported mortgage performance statistics have been adjusted accordingly. More detailed descriptions of the methodology used, market coverage, comparisons with previous reported statistics and additional disclosures are available upon request.
Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 7.14 percent
Month-over-month change in delinquency rate: 3.4 percent
Year-over-year change in delinquency rate: -7.3 percent
Total U.S. foreclosure pre-sale inventory rate: 4.09 percent
Month-over-month change in foreclosure presale inventory rate: -2.0 percent
Year-over-year change in foreclosure presale inventory rate: -1.0 percent
Number of properties that are 30 or more days past due, but not in foreclosure: (A) 3,602,000
Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,590,000
Number of properties in foreclosure pre-sale inventory: (B) 2,061,000
Number of properties that are 30 or more days delinquent or in foreclosure: (A+B)
5,663,000
States with highest percentage of non-current loans: Florida, Mississippi, Nevada, New Jersey, Illinois
States with the lowest percentage of non-current loans: Montana, Alaska, Wyoming, South Dakota, North Dakota
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