LPS Applied Analytics released their November Mortgage Performance data. According to LPS:
According to LPS, 9.02% of mortgages are delinquent (down from 9.29% in October), and another 4.08% are in the foreclosure process (up from 3.92% in October) for a total of 13.10%. It breaks down as:
- The average number of days delinquent for loans in foreclosure is a record 499 days
- Over 4.3 million loans are 90 days or more delinquent or in foreclosure
- Delinquency rates are down across all products as more loans entered foreclosure and new delinquencies declined.
- Foreclosure inventory increases are being driven both by elevated levels of foreclosure starts as well as a very limited amount of foreclosure sale activity.
For a total of 6.92 million loans delinquent or in foreclosure.
- 2.61 million loans less than 90 days delinquent.
- 2.16 million loans 90+ days delinquent.
- 2.16 million loans in foreclosure process.