Lender Processing Services' (LPS) "first look" report found that the national monthly and yearly delinquency rates continued to decline in March.
Out of a database of nearly 40 million mortgage loans, the national loan delinquency rate fell to 7.8%. These are loans that are 30 or more days past due, but not in foreclosure.
The month-to-month rate decreased by 11.6%, while the yearly change was also down 19.4%.
LPS said there are over 4.1 million properties that are delinquent by 30 days, while there is a little less than two million properties delinquent by 90 or more days.
In the report, foreclosure inventory increased by 4.2% in March, which is 1.4% higher than February. The year-to-year inventory went up by 11%.
There are approximately 2.2 million properties that currently comprise the foreclosure pre-sale inventory.
The highest percentage of non-current loans, which is a combination of foreclosures and delinquencies that are active loans, are in Florida, Nevada, Mississippi, New Jersey and Georgia. The states with the lowest percentage of loans were Montana, Wyoming, Alaska, South Dakota and North Dakota.
