Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Economic News

Mortgage delinquencies unchanged in December

December mortgage performance data

According to a preliminary report by Lender Processing Services, Inc. (LPS), their massive database of nearly 40 million mortgage loans reveals that delinquencies from November to December is unchanged, remaining at 8.15 percent, after a 2.7 percent increase in November.

The volume of mortgage delinquencies in December compared to December 2012 is down 7.7 percent, due mostly in part to the backlog of foreclosures after banks and servicers have slowed and even frozen the foreclosure process in light of the robosigning debacle wherein foreclosures were being illegally processed without any human review of files. This is the reason most predict a foreclosure flood this year as the backlog is cleared up.

The total U.S. foreclosure pre-sale inventory rate in December rested at 4.11 percent, down 1.3 percent from November and down 1.0 percent from December 2010.

Currently, over 4 million properties are at least 30 days past due but not in foreclosure, while 1.8 million properties are 90+ days delinquent, also not in foreclosure. Fully 2 million properties are in foreclosure pre-sale status.

Advertisement. Scroll to continue reading.

Combined there are 6.16 million properties that are 30 or more days delinquent or in foreclosure. Florida, Mississippi, Nevada, New Jersey, and Illinois continue to be the states with the highest percentage of non-current loans while Montana, Wyoming, South Dakota, North Dakota and Alaska leading with the lowest percentage of non-current loans.

Tara Steele is the News Director at The American Genius, covering entrepreneur, real estate, technology news and everything in between. If you'd like to reach Tara with a question, comment, press release or hot news tip, simply click the link below.

19 Comments

19 Comments

  1. Jared

    January 19, 2012 at 10:21 am

    Thanks for the stats. Always useful info to pass on to clients.

Leave a Reply

Your email address will not be published.

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Advertisement

KEEP READING!

Business News

(FINANCE) An anti-trust lawsuit against major players in the residential real estate industry sheds light on misinformation and misunderstandings about commissions - when you're...

Social Media

(SOCIAL MEDIA) Facebook is updating its trends page as another step in its revamping process.

Business Marketing

(MARKETING) Opcity is the Austin startup making big changes to the ways that lead generation happens in real estate.

Business Marketing

(MARKETING) Whether an anomaly or the new normal, publishers are seeing diminished reach with text content on this popular site.

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.