National foreclosure inventory drops: LPS

According to the May Mortgage Monitor Report by Jacksonville-based Lender Processing Services (NYSE: LPS) shows that the number of mortgages that are 90 or more days delinquent, combined with the foreclosure inventory at the end of May, totaled 4,084,557. With foreclosure sales at 78,676 at month.

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The number of delinquent mortgages continued declining into February based on comparisons for both the prior month and year, according to data from ""Lender Processing Services"":

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National Mortgage Delinquency Rate Swells to 9.2% in May: LPS. The national foreclosure inventory rate was nearly 3.2% in May, up from 3.18% in April, bringing the total non-current rate of loans either delinquent or in foreclosure to 12.4%. The average number of days elapsing from the time a mortgage becomes 30 days delinquent to foreclosure sale.

The May Mortgage Monitor report released by Lender Processing Services (NYSE: LPS) shows that the nation’s foreclosure inventory remains near all-time highs, with 4.12 percent of all active.

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