LPS: Foreclosure Backlog Stands at 30x Foreclosure Sales Volume

Florida Home Loans News

LPS: Foreclosure Backlog Stands at 30x Foreclosure Sales Volume

 · Lender Processing: A Good but Not Great Growth Story. mortgage default volumes skyrocket and LPS earns the dough providing foreclosure and other end-of.

Sales increase 20% y/y. October existing home sales in the Carolinas jumped 20% y/y, likely fueled by tax credit-driven demand. While not a surprising data point given the strong existing home sales figures reported throughout the country, we note this is the first y/y increase in aggregate sales.

Mortgage Delinquencies Pass 10%: LPS. Home-loan delinquency rates in the US reached 10% in December, up from the record-high 9.97% in November, according to Lender Processing Services. which provides data on mortgage performance. Accounting for foreclosures in the pipeline, the total non-current rate stands at 13.3%..

Although our origination services business was strong, fueled by the high refinance volumes, this was offset by declines in Default Services, which continue to be impacted by industry-wide foreclosure.

Of the 6,373,000 mortgage going unpaid in the United States, LPS says approximately 2,172,000 are part of the foreclosure pre-sale inventory. The remaining 4,202,000 are 30-plus days delinquent but not yet in.

South Florida veteran gifted with mortgage-free town home Condos & Townhomes for Sale in Tampa, FL have a median listing price of $275,000 and a price per square foot of $160. There are 1,413 active condos and townhomes for sale in Tampa, Florida, which.

suggest that the backlog of foreclosures is beginning to move. According to the LPS Mortgage Monitor, the delinquency rate in January fell 2.2 percent from December and 10.5 percent form one year earlier to a rate of 7.97 percent. Foreclosure starts numbered 203,453 during the month compared to 159,092 in December and foreclosures were at a rate of

As of the end of February, foreclosure inventory levels stand at more than 30 times monthly foreclosure sales volume, indicating this backlog will continue for quite some time. Ultimately, these foreclosures will most likely reenter the market as REO properties, putting even.

Lender Processing Services (LPS) estimates that, given the backlog of foreclosure processing, there may be as much as 30x the monthly sales volume of already foreclosed homes. The February.

Approximate date of commencement of proposed sale to the public: As soon as practicable after this Registration Statement becomes effective. If any of the securities being registered on this Form are.

According to LPS reports, the foreclosure issue will persist into 2013. Rates.. Foreclosure Crisis Could Continue Into 2013. August 20, 2010.. but the point stands that foreclosures are moving very slowly. Part of this is due to the gigantic backlog of foreclosures.

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