LPS Previews March Report on Delinquencies and Foreclosures

Lender processing Services (LPS) reported that there was a 5 percent reduction in the national delinquency rate in February compared to January figures and that the drop in delinquencies since February 2010 now totals 14.0 percent. The foreclosure presale inventory rate declined by 0.5 percent from January figures to 4.13 percent which is a -0.3 change from one year earlier.

The LPS information is a preview of data that will be reported by the company on March 27 in its monthly Mortgage Monitor report.

There are currently 3.78 million properties that are 30 or more days past due but not in foreclosure, 1.72 million of which are over 90 days delinquent but not yet referred for foreclosure.  Properties in foreclosure (the pre-sale inventory) number 2.065 million.  This means there are 5.85 million properties currently at risk for foreclosure.

The highest percentage of non-current loans continues to be concentrated in Florida, Mississippi, Nevada, New Jersey, and Illinois.