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Mortgage Delinquency Rate Falls, Foreclosure Inventory Rises

Posted in Appraisers

According to Lender Processing Services – a data and analytics firm that tracks monthly statistics in its loan-level database of nearly 40 million mortgages – mortgage delinquencies fell slightly to 8.09 percent in September from August. The mortgage delinquency rate fell 0.5 percent from the previous month and was 12.7 percent lower than at the same point last year. The foreclosure pre-sale inventory rate was 4.18 percent, up 1.7 percent from August and an increase of 8.9 percent from a year ago.

Data showed that 2.17 million homes were currently in pre-foreclosure and that more than 6.3 million properties nationwide were in foreclosure. Florida, Illinois, Mississippi, Nevada and New Jersey had the highest percentage of noncurrent loans. Alaska, Montana, North Dakota, South Dakota and Wyoming had the lowest percentage of noncurrent loans, which includes delinquencies and foreclosures as a percentage of active loans in each state.