October Shadow Inventory Down 16 percent from Previous Year

Early data provided by Lender Processing Services (LPS) fromrnits upcoming Mortgage Monitor reportrnshow that both national mortgage delinquencies and the foreclosure presalerninventory dropped sharply in October.   Statistics from LPS’s database representrnapproximately 70 percent of the mortgage loans serviced by major lenders.</p

At the end of October the total U.S. mortgage delinquencyrnrate including loans that were 30+ days past due but not in foreclosure wasrn7.03 percent.  This represents a declinernof 4.91 percent from September and a -7.19 change from October 2011.  Nationwide there were 3.5 million loans thatrnwere more than 30 days past due and 1.54 million that were 90 or more days pastrndue.  Loans that are in a formal processrnof foreclosure are not included in those totals.</p

The foreclosure pre-sale inventory rate (loans that havernstarted the foreclosure process) was 3.61 percent, down 6.77 percent from thernprevious month and 15.99 percent from one year earlier.  There were 1.8 million homes in the pre-salerninventory and a total of 5.3 million homes in delinquency or foreclosure.</p

The LPS MortgagernMonitor with complete details on these figures will be published in earlyrnDecember.

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