Thursday, December 1, 2011

LPS Mortgage Monitor: Colorado 6th-best in the nation for non-current loans

According to the October 2011 report released today by LPS Applied Analytics, there were 3.9 million loans in the US that were either in foreclosure or were more than 90-days delinquent during October of this year. Delinquencies were down 28 percent from the peak during October, but the foreclosure inventory remained at historic highs.

Nationally, the percentage of active mortgage loans that were non-current during October was 12.2 percent, which was down 7.5 percent from the same period last year.

In Colorado, the percentage of active mortgage loans that were non-current during October was 6.7 percent, which was down 13.3 from the same period last year. Colorado's year-over-year decline in non-current loans was the 8th largest in the nation. Only Nevada,Michigan, Arizona, California, Utah, Idaho and Wyoming showed larger declines.

Only five states reported lower percentages of non-current loans than Colorado, making Colorado 6th-best in the nation for the percentage of its mortgage loans that were non-current during October 2011. Montana, Wyoming, South Dakota, Alaska and North Dakota reported lower percentages of non-current loans during October.

LPS Mortgage Monitor is an in-depth report of mortgage industry performance. The monthly report is based on data from the company’s market-leading repository of loan-level residential mortgage data and performance information, including more than 40 million active loans across the credit spectrum. This data is analyzed by LPS experts to produce more than 30 charts and graphs reflecting both trend and point-in-time performance observations.