delinquency rates, foreclosure inventory, foreclosure sales, foreclosures, Lender Processing Services, LPS, mortgage delinquency, problem loans

Foreclosure statistics for January

Foreclosure statistics courtesy of Lender Processing Services (LPS)

Despite the fact that LPS may be subject to fines concerning its handling of foreclosures, the company still provides some excellent foreclosure statistics.

The are the LPS conclusions on foreclosures for the month ended January 2011.

  • Delinquency rates increased slightly as a large number of loans were transitioned out of foreclosure back into the seriously delinquent category.
  • New problem loan rates continued to improve. All states have experienced significant 12 month declines in new seriously delinquent loan inventory.
  • New foreclosures declined, however foreclosure inventory still increased and remains under pressure due to a low volume of foreclosure sales activity.
  • Foreclosure sales volume is increasing, but still remains very low with foreclosure starts outnumbering sales 3:1.
  • Foreclosure timelines continue to extend – the average loan in foreclosure has not made a payment in over 500 days.
  • Refinance activity declined significantly as increasing rates and several months of strong refinance volume have reduced remaining opportunities.

Total U.S. loan delinquency rate: 8.9 percent

Total U.S. foreclosure inventory rate: 4.16 percent

Total U.S. non-current* loan rate: 13.1 percent

States with most non-current* loans: Florida, Nevada, Mississippi, Georgia, New Jersey

States with fewest non-current* loans: Montana, Wyoming, Alaska, South Dakota, North Dakota

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

Source: LPS

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