Posted To: MND NewsWire

The Lender Processing Services (LPS) Mortgage Monitor Report for December show improvement in a number of the metrics it tracks. Many measures of delinquency rates are down, inventories are clearing in some states, and recent loan originations are "among the best quality on record." The overall delinquency rate did not change from November, remaining at 8.15 percent but is down 7.7 percent since December 2010. Seriously delinquent loans, those 90 or more days overdue or in foreclosure decreased 0.6 percent to 7.67 percent, a -5.9 percent change from one year earlier. The foreclosure rate which was 4.16 percent in November fell to 4.11 percent in December and is down 1.0 percent year-over-year. Foreclosure starts showed the most dramatic change. There were 159,092 starts in December compared...(read more)