The August LPS Mortgage Monitor was released this morning. It shows good news and bad news. The good news (if you are Fannie Mae and Freddie Mac). The GSE mortgage share (blue line) has risen since 2011. mtgmktshare The bad news? The percentage of mortgages that are “out of the money” for refinancing has topped 50%. Again. %inmoney The good news? The mortgage pipeline is shrinking rapidly, particularly in judicial foreclosure states. forecpipecl The bad news? Judicial foreclosure states like New York, New Jersey and Hawaii have stubbornly high foreclosure pipeline ratios. For non-judicial foreclosure states, Massachusetts leads the nation....