Pavaso CEO: CFPB eClosing mortgage pilot “historic event”

Pavaso CEO: CFPB eClosing mortgage pilot “historic event”

Makes buying a home easier for all Americans

Urban Institute: Qualified Mortgage impact overblown

New rules have only slightly slowed mortgage lending

WATCH: Former Wells Fargo CEO calls BofA fine “extortion”

Kovacevich says fine is political and has “nothing to do with justice”
W S
Servicing

LPS: 7.12% of U.S. loans are delinquent

Mortgage delinquencies ticked up in November even though the nation continued to experience declining distressed inventory levels and fewer delinquencies year-over-year, according to data firm Lender Processing Services.

Roughly 7.12% of all U.S. loans surveyed by LPS (LPS) ended up classified as delinquent in November.

LPS reached this conclusion after analyzing statistics from its own loan-level database, which can access data on 70% of the entire mortgage market.

From October to November, the U.S. delinquency rate edged up 1.19%, while still falling 9.06% from a year earlier.

The number of properties 30 or more days past due, but not in foreclosure, totaled 3.53 million in November, while 1.584 million were 90 or more days delinquent.

When tallying delinquent homes with properties in foreclosure, the distressed segment of the market includes 5.35 million homes.

The U.S. states of Florida, New Jersey, Mississippi, Nevada and New York had the highest percentage of non-current loans.

Those with the lowest percentage of non-current loans in November included Montana, Wyoming, South Dakota, Alaska and North Dakota.

The nation's pre-sale inventory rate hit 3.51% last month, down 2.84% from October and a decline of 16.42% from last year.

kpanchuk@housingwire.com

 

Recent Articles by Kerri Panchuk

Comments powered by Disqus