LPS: U.S. loan delinquency rate falls 2.03%
The U.S. loan delinquency rate fell to 7.03% from December to January, a 2.03% drop from 7.17% a month earlier, according to Lender Processing Services data.
From last year, the loan delinquency rate fell 8.35%.
The mortgage technology and analytics firm released its ‘first look’ report on mortgage loan performance for January after reviewing data on loans within a database that includes roughly 70% of the mortgage market.
Meanwhile, the U.S. foreclosure pre-sale inventory rate hovered at 3.41% after falling 19.39% from year ago levels.
About 3.5 million properties are 30 days or more past due, but not in foreclosure, while the number of mortgages that are 90 or days more delinquent reached 1.5 million, LPS said.
The number of homes in the foreclosure pre-sale inventory reached 1.7 million in January, while the number of properties that are 30 or more days delinquent or in foreclosure reached 5.2 million.
States with the most non-current mortgages include Florida, Mississippi, New Jersey, Nevada and New York.
Meanwhile, the states with the lowest percentage of non-current loans include Montana, Alaska, Wyoming, South Dakota and North Dakota.