LPS: September delinquency rate 9.27%
There are more than 7 million mortgage loans delinquent for 30 days or more or already in foreclosure, according to Lender Processing Services. In a first look at its figures for September, the firm said the rate of delinquent mortgages is 9.27%, which is up less than 1% from August but nearly 8% lower than a year earlier. The current inventory of pre-sale foreclosures is 3.84% of all the homes in the U.S., up from the prior month and 3.6% higher than a year ago. There are almost 5 million properties in arrears for 30 days or more but not yet in the foreclosure process, according to LPS. The data and analytics company also said Florida, Nevada, Mississippi, Georgia and Louisiana continue to have the highest percentage of non-current home loans. LPS will release its monthly mortgage monitor Oct. 29. Write to Jason Philyaw.