This is why millennials need a new credit scoring system

This is why millennials need a new credit scoring system

Turns out they WANT credit, but just can't GET credit

Meet our incredible 2015 Women of Influence

Announcing 40 leaders driving the housing economy

CFPB to mortgage industry: Get out of MSAs

Industry calls move regulation by enforcement
W S

Mortgage delinquency rate drops 18.4% annually: LPS

/ Print / Reprints /
| Share More
/ Text Size+
Fewer mortgages were classified as delinquent in February when compared to the same period a year earlier, Lender Processing Services said in a monthly update Monday. Out of the 40 million loans evaluated by LPS last month, 8.8% qualified as delinquent (30 days or more overdue). That delinquency rate is down 1.2% from January and 18.4% from February 2010. Meanwhile, the year-over-year foreclosure presale inventory rate grew 7.4% even though it dropped a slight 0.2% on a month-to-month basis. In February, LPS classified 4.6 million mortgages as delinquent for 30 day or more, while nearly 2.2 million loans were at least 90 days late. About 6.8 million loans were either delinquent or in foreclosure last month, LPS said. The states with the highest percentage of delinquent loans included Florida, Nevada, Mississippi, New Jersey and Georgia. States with the lowest percentage of non-performing loans included Montana, Wyoming, Alaska, South Dakota and North Dakota. Write to Kerri Panchuk.

Recent Articles by Kerri Panchuk

Comments powered by Disqus