For every loan approved, three more loans are deteriorating, according to Lender Processing Services(LPS) November monitor report. LPS provides mortgage performance data and analytics. Its November report provides a summary of mortgage industry performance based on data collected through October. Of the mortgages that were current through December 2008, 2m or 4.02% fell into delinquency or foreclosure by October 2009. Deterioration was most prominent in the Northeast and Northwest, and 31 states have non-current loan rates, or delinquency and foreclosures combined, in the range of 10% in Missouri to 22.7% in Florida, according to the report. After the Mortgage Bankers Association reported a record high of 14.4% in serious delinquencies last week, LPS reports that total delinquencies climbed another 0.85% through October to 9.4% and were 32% higher than last year. More optimistically, the roll rate of loans falling further behind remain below the November 2008 peak. Loss mitigation efforts have kept the rate of loans falling into foreclosure down as well. The total US foreclosure inventory rate reached 3.1%, according to LPS. With the US Treasury Department putting more pressure on servicers to convert modification trials under the Home Affordable Modification Program (HAMP) into permanency, that rate might remain low. Write to Jon Prior.

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