Posted on 07/08/2013 7:26:52 AM PDT by whitedog57
According to today’s May Mortgage Monitor report released by Lender Processing Services, they found that the national delinquency rate continued to fall in May, marking the largest year-to-date drop since 2002. Delinquencies are down more than 15 percent since the end of December 2012, coming in at 6.08 percent for the month. New problem loan rates are approaching the pre-crisis average.
newdelinqlps
Here is a quick summary of the LPS report:
1. 6.08% of mortgages were delinquent in May, down from 6.21% in April.
2. 3.05% of mortgages were in the foreclosure process, down from 4.12% in May 2012.
3. 1,708,000 properties that are 30 or more days, and less than 90 days past due, but not in foreclosure.
4. 1,335,000 properties that are 90 or more days delinquent, but not in foreclosure.
5. 1,525,000 loans in foreclosure process.
6. This sums to a total of 4,469,000 loans delinquent or in foreclosure in May. This is down from 5,605,000 in May 2012.
The credit quality of recent vintage loans is quite good. The weighted average credit score in 2012 and 2013 is 754. In 2006, the weighted-average credit score for mortgages was 699.
ficolps
Helping the foreclosure situation is the rise in home prices since March 2012.
hp070813
The rise in house prices has resulted in a decrease in negative equity, one of the drivers of mortgage default and foreclosures.
LPSMay22013
Congress/Administration: can we NOW talk about scaling back or eliminating the numerous government mortgage modification programs like HAMP and HARP?
“Can we get rid of government mortgage modification programs now??? PLEASE???”
Then how can we keep people on the Democratic plantation?
Barack Obama’s Lonely Taxpayer Band.
Doesn’t it sum to 4,568,000?
Is it a bad sign when the outfit tracking foreclosure a can’t add 3 numbers?
The problem is much deeper than mortgage modifications.
Your math is correct ... this LPS is the same LPS where the CEO plead guilty to fraud ... they had a division named DocX that would forge any loan related document , or even an entire file for you for a low low price ... “IT’S CRAZY EDDIES FRAUDULENT DOCUMENTS!!!”
Go to the link to see their price list...
http://stopforeclosurefraud.com/2010/10/01/docx-lps-price-list-any-documents-you-want/
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