Monday, January 16, 2012

LPS Mortgage Monitor: Colorado has 5th-best loan delinquency rate in US

According to the December 2011 report released last week by LPS Applied Analytics:

mortgage delinquencies at the end of November 2011 were nearly 25 percent less than the January 2010 peak, the trend toward fewer loans becoming delinquent, which dominated 2010 and the first quarter of 2011, appears to have halted. At the same time, new problem loans – those loans seriously delinquent as of the end of November that were current six months prior – have not improved significantly in the last year. This degree of stagnation indicates that while the situation is not getting markedly worse, it is not improving either, and inventories of troubled loans remain significantly higher than pre-crisis levels across the board.


(The December report includes data up through November.)

Nationally, the percentage of active mortgage loans that were non-current during November was 12.3 percent, which was down 6.4 percent from the same period last year.

In Colorado, the percentage of active mortgage loans that were non-current during November was 6.8 percent, which was down 11.7 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 November 2011. Montana, Wyoming, South Dakota, Alaska and North Dakota reported lower percentages of non-current loans during November.

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.