NEWS - Residential Real Estate

SBJ Staff Report

Dec 19, 2011 - Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology, data and analytics to the mortgage and real estate industries, has reported the following "first look" at November 2011 month-end mortgage performance statistics this morning, derived from its loan-level database of nearly 40 million mortgage loans.

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure is now at 8.15%.  This is a month-over-month change in delinquency rate of an increase of 2.7%. The Year-over-year change in delinquency rate is down -9.6%.  But many foreclosures have been held up in 2011 as Bank of America and other major lenders have been in negotiations with the Attorney Generals of all 50 states in the U.S. over fraudulent mortgage practices in the past.   Mortgage processing and actions have been held up, in many cases.

The rotal U.S foreclosure pre-sale inventory rate jumped up 4.16% in November over October.
And, the year-over-year change in foreclosure presale inventory rate was up  2.0%.

The number of properties that are 30 or more days past due, but not in foreclosure in the U.S, is now 4,144,000, and the number of properties that are 90 or more days delinquent, but not in foreclosure stands at 1,809,000.  The number of properties in foreclosure pre-sale inventory: is at 2,116,000. Therefore, the total number of properties that are 30 or more days delinquent or in foreclosure is up to 6,260,000.

The states with highest percentage of non-current loans is FL, MS, NV, NJ, IL. At times, Georgia has been on this list.

Approximately 50 percent of all U.S. mortgages by dollar volume are serviced using LPS' loan servicing platform, MSP.