Thursday, October 4, 2012
LPS: Colorado 6th-best for non-current loans during August
According to the June LPS Mortgage Monitor , released yesterday by Lender Processing Services, 10.9 percent of mortgage loans during August were "non-current" in the United States. That is, they were 90-plus-days delinquent or were in foreclosure.
In Colorado, the percentage of active mortgage loans that were non-current during August was 5.7 percent, which was down 13.1 percent from the same period last year. Colorado's year-over-year decline in non-current loans was the 7th largest in the nation. Only Michigan, Arizona, California, Minnesota, North Dakota 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 August 2012. Montana, Wyoming, South Dakota, Alaska and North Dakota reported lower percentages of non-current loans during August.
The states with the highest rates of non-current loans were Florida, Mississippi and New Jersey with non-current rates of 20.7 percent, 16.9 percent and 16.0 percent, respectively.
According to LPS: "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."