The total U.S. delinquency rate for August was 6.87%, down 2.3% from July and down 10.6% from August 2011, according to the ‘First Look’ data released by Jacksonville, Fla.-based Lender Processing Services (LPS).
LPS adds that the total U.S. foreclosure rate in August was 4.04%, which is down 1% from July and down 2% from August 2011. More than 2 million loans were in the national foreclosure inventory last month.
The states with the highest percentage of non-current loans in August were Florida, Mississippi, New Jersey, Nevada and New York. The states with the lowest percentage of non-current loans were Montana, Alaska, South Dakota, Wyoming and North Dakota.