LPS: Mortgage delinquencies down 10%

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 6.45% Month-over-month change in delinquency rate 2.63% Year-over-year change in delinquency rate: -9.41%.

Mortgage delinquencies are falling as home prices rise and the foreclosure pipeline clears. While 6.4% seems low compared to the peak of 10%, the "normal" level prior to the housing bubble was.

While FHA origination activity is down, GSE and FHA originations still account for the vast majority of all new loans – nearly nine out of every 10 new mortgages. As reported in LPS’ First Look release, other key results from LPS’ latest Mortgage Monitor report include:

Mortgage delinquencies decline. In 2013 Mortgage delinquencies declined 10% on a year-over-year basis despite a slight uptick in December. (According to Black Knight Financial Services’ Mortgage Monitor data). But, they are varying widely by state.

Loan Qualifying Restrictions: 5%, 10%, 15% and 20% Down Programs. Debt to income restrictions is generally limited to 38%. However, the limits can be exceeded in certain cases to 45%+ depending on factors like the loan amount, credit score, down payment, etc. Buyers should have some reserves after closing.

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September’s report was the first time we saw increases in four of five regions, three of four loan types and the composite, which rose from 2.04% to 2.10%. bank cards rose to 5.36% in September from 5.26% in August, which is a bit of a concern. First and second mortgage default rates also rose during the month.

When it is extremely weak, mortgage default volumes skyrocket and LPS earns the dough providing foreclosure and other end-of-life functions. LPS also has an attractive Technology, Data, and Analytics.

After five consecutive months of steady decline, the delinquency rate for U.S. home mortgages spiked nearly 10% in June, month over month, according to Lender Processing Services’ (LPS) ‘First Look’ Mortgage Report. The total U.S. loan delinquency rate (loans 30 or more days past due but not in.

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.

in contrast to the MBA survey, which showed delinquencies down to 6.96%, the June Mortgage Monitor (pdf) from Lender Processing Services (LPS) showed that new mortgage delinquencies spiked up 18.3.