State’s non-current loans still high

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Published: April 13,2010

Tags: financing, housing crisis, mortgage

The latest Mortgage Monitor report released by Lender Processing Services Inc. shows that the total number of delinquent loans was 21.3 percent higher than the same period last year.

Although the data showed a small 1.45 percent seasonal decline in delinquencies from Jan. 2010 to Feb. 2010 month-end, the national delinquency rate still stood at 10.2 percent. The report is based on data as of Feb. 2010 month-end.

The nation’s foreclosure inventories reached record highs. February’s foreclosure rate of 3.31 percent represented a 51.1 percent year-over-year increase. The percentage of new problem loans also remains at a five-year high. The total number of non-current first-lien mortgages and REO properties is now more than 7.9 million loans. Furthermore, the percentage of new problem loans is also at its highest level in five years. More than 1.1 million loans that were current at the beginning of January 2010 were already at least 30 days delinquent or in foreclosure by February 2010 month-end.

As a result of the federal government’s Home Affordable Modification Program (HAMP), delinquent loans that were modified and that remained current through HAMP’s three-month trial period – called “cures-to-current” – have increased. Advanced delinquency rolls, however, remain elevated from a historical perspective.

Other key results from LPS’ latest Mortgage Monitor report include:

• Total U.S. loan delinquency rate — 10.2 percent

• Total U.S. foreclosure inventory rate — 3.3 percent

• Total U.S. non-current loan rate — 13.5 percent

• States with most non-current loans — Florida, Nevada, Arizona, Mississippi, California, New Jersey, Georgia, Illinois, Ohio and Indiana

States with fewest non-current loans — North Dakota, South Dakota, Alaska, Wyoming, Nebraska, Montana, Vermont, Colorado, Washington and Minnesota

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    [...] State’s non-current loans still high – Mississippi Business JournalThe latest Mortgage Monitor report released by Lender Processing Services Inc. shows that the total number of delinquent More than 1.1 million loans that were current at the beginning of January 2010 were already at least 30 days delinquent or in [...]

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  8. Loans Says:

    Mortgage is a word which is used for Personal or Intellectual Properties. It is related to or indicated by valuable goods such as a car or family house or farm house. Mortgage loans are considered by value of properties or mortgage. Probably it is considered as a under cost or lower cost in India, but in other countries it will be behaved like a valuable good.

    The most important thing is that your properties get right value at current rate and on time. The rate of interest is not very sufficient for loan bearer. So you have to bargain with Loan Service Provider (Financial Support Service Provider)

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