LPS "First Look" Mortgage Report: June Month-end Data Shows Increase in Delinquencies
JACKSONVILLE, Fla. - July 25, 2012 - Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology, data and analytics to the mortgage and real estate industries, reports the following "first look" at June 2012 month-end mortgage performance statistics derived from its loan-level database representing approximately 70 percent of the overall market.
With the June 2012 month-end data, LPS has updated its extrapolation methodology to incorporate, among other things, improved estimates of market size, which includes higher coverage of government and subprime products and increases LPS' estimate of the total first lien residential mortgage market by three percent to 50.4 million. To ensure consistency in trend analysis, the new methodology has been applied to all historical data and previously reported mortgage performance statistics have been adjusted accordingly. More detailed descriptions of the methodology used, market coverage, comparisons with previous reported statistics and additional disclosures are available upon request.
Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 7.14%
Month-over-month change in delinquency rate: 3.4%
Year-over-year change in delinquency rate: -7.3%
Total U.S. foreclosure pre-sale inventory rate: 4.09%
Month-over-month change in foreclosure presale inventory rate: -2.0%
Year-over-year change in foreclosure presale inventory rate: -1.0%
Number of properties that are 30 or more days past due, but not in foreclosure: (A) 3,602,000
Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,590,000
Number of properties in foreclosure pre-sale inventory: (B) 2,061,000
Number of properties that are 30 or more days delinquent or in foreclosure: (A+B)
States with highest percentage of non-current* loans: FL, MS, NV, NJ, IL
States with the lowest percentage of non-current* loans: MT, AK, WY, SD, ND
*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
(1) Totals are extrapolated based on LPS Applied Analytics' loan-level database of mortgage assets
(2) All whole numbers are rounded to the nearest thousand
The company will provide a more in-depth review of this data in its monthly Mortgage Monitor report, which includes an analysis of data supplemented by in-depth charts and graphs that reflect trend and point-in-time observations. The Mortgage Monitor report will be available on LPS' website, http://www.lpsvcs.com/LPSCorporateInformation/CommunicationCenter/DataReports/Pages/Mortgage-Monitor.aspx by Aug. 6, 2012.
For more information about gaining access to LPS' loan-level database, please send an e-mail to LPSAAsales@lpsvcs.com.
About Lender Processing Services
Lender Processing Services (NYSE: LPS) delivers comprehensive technology solutions and services, as well as powerful data and analytics, to the nation's top mortgage lenders, servicers and investors. As a proven and trusted partner with deep client relationships, LPS offers the only end-to-end suite of solutions that provides major U.S. banks and many federal government agencies the technology and data needed to support mortgage lending and servicing operations, meet unique regulatory and compliance requirements and mitigate risk.
These integrated solutions support origination, servicing, portfolio retention and default servicing. LPS' servicing solutions include MSP, the industry's leading loan-servicing platform, which is used to service approximately 50 percent of all U.S. mortgages by dollar volume. The company also provides proprietary data and analytics for the mortgage, real estate and capital markets industries.
LPS is headquartered in Jacksonville, Fla., and employs approximately 8,000 professionals. The company is ranked on the Fortune 1000 as the 877th largest American company in 2012. For more information, please visit www.lpsvcs.com.