Servicers' foreclosure inventories are growing, Lender Processing Services Inc. (LPS) says in its ‘first look’ report that covers mortgage performance data through the end of November. Nearly 2.16 million properties were in the foreclosure presale inventory at the end of November – a 4.1% increase from the month before.
That total translates into a 4.08% foreclosure presale inventory rate. LPS reports that the total delinquency rate, which does not include loans in foreclosure, was 9.02% at the end of November. All said, there were almost 6.93 million loans 30+ days delinquent or in foreclosure.
The states with the highest percentage of non-current loans were Florida, Nevada, Mississippi, Georgia and New Jersey. Montana, Wyoming, Alaska, South Dakota and North Dakota had the lowest percentages of non-current loans.
LPS' full Mortgage Monitor report will be released Dec. 22.