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  • Sources: Trump plans repeal of FHA mortgage insurance premium cut

    With President-elect Trump’s inauguration mere hours away, it appears that the Trump administration will do more than just “examine” the FHA premium cut once Trump is sworn on. According to multiple sources, the FHA premium cut, which is currently scheduled to go into effect on January 27, will be delayed, if not done away with entirely, by the incoming Trump administration.

Delinquent residential mortgages on the decline: LPS

Lender Processing Services (LPS) said the delinquency rate for December on residential mortgage loans that are 30 or more days past due but not in foreclosure stands at 8.83%, a year-over-year decline of nearly 18%. Compared to November, the delinquency rate is down 2.1%, LPS said. The numbers come from LPS’ “First Look” report, which provides month-end mortgage performance statistics from its loan-level database of nearly 40 million mortgage loans. The Jacksonville, Fla.-based firm will provide more detailed reporting in its upcoming “Mortgage Monitor” report, scheduled for release in early February. Other first look stats included:
  • Total U.S. foreclosure pre-sale inventory rate: 4.15%
  • Month-over-month change in foreclosure pre-sale inventory rate: 1.7%
  • Year-over-year change in foreclosure pre-sale inventory rate: 9.3%
  • Number of properties that are 30 or more days past due, but not in foreclosure: 4.67 million
  • Number of properties that are 90 or more days delinquent, but not in foreclosure: 2.12 million
  • Number of properties in foreclosure pre-sale inventory: 2.2 million
Combined, the number of properties that are 30 or more days delinquent or in foreclosure has reached 6.87 million as of December, according to LPS. That's down from an estimated 6.93 million properties in November that were 30 days or more delinquent or in some stage of foreclosure. States with highest percentage of noncurrent loans are Florida, Nevada, Mississippi, Georgia and New Jersey. States with the lowest percentage of noncurrent loans are Montana, Wyoming, Alaska and the Dakotas. Noncurrent totals combine foreclosures and delinquencies as a percent of active loans in that state. Write to Kerry Curry. Follow her on Twitter @communicatorKLC.


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