[B]oth foreclosure starts and sales spiked in the first month of 2012, up approximately 28 and 29 percent respectively. While one month of data does not necessarily indicate a trend, this surge could suggest the backlogged foreclosure pipeline is beginning to move. The January data also showed that the percentage of repeat foreclosures hit a new all-time high, with 47 percent of all foreclosure starts falling into that category.
(The February report includes data up through January.)
Nationally, the percentage of active mortgage loans that were non-current during January was 12.1 percent, which was down 7.2 percent from the same period last year.
In Colorado, the percentage of active mortgage loans that were non-current during January was 6.6 percent, which was down 11.1 percent from the same period last year. Colorado's year-over-year decline in non-current loans was the 10th largest in the nation. Only Nevada, Michigan, Arizona, California, Utah, Idaho, Minnesota, Montana 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 January 2011. Montana, Wyoming, South Dakota, Alaska and North Dakota reported lower percentages of non-current loans during January.
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.