The loan delinquency rate for the 40 million mortgages analyzed by Lender Processing Services fell 8.8% annually in March, and 6.3% from the previous month, according to LPS latest First Look Mortgage Monitor Data.
The total U.S. loan delinquency rate, which includes all loans that are 30 or more days past due but not in foreclosure, hit 7.09% in March, LPS said.
In addition, the total foreclosure pre-sale inventory rate hit 4.14%, up a slight 0.1% from February and down 1.6% from a year earlier.
The total number of delinquent properties that are more than 30-days past due hit 3.5 million properties in March, while 1.6 million properties are more than 90 days past due, LPS said.
States with the most non-current mortgages include Florida, Mississippi, Nevada, New Jersey and Illinois. States with the lowest percentages of non-current mortgages include Montana, Alaska, South Dakota, Wyoming and North Dakota.
kpanchuk@housingwire.com
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