According to the LPS Mortgage Monitor , released today by Lender Processing Serives, 11.7 percent of mortgage loans during February were "non-current" in the United States. That is, they were 90-plus-days delinquent or were in foreclosure.
In Colorado, the percentage of active mortgage loans that were non-current during February was 6.5 percent, which was down 13.4 percent from the same period last year. Colorado's year-over-year decline in non-current loans was the 10th largest in the nation. Only Nevada, Michigan, Arizona, California, Utah, Idaho, Minnesota, Montana and Wyoming showed larger declines.
Only five states reported lower percentages of non-current loans than Colorado, making Colorado 6th-best in the nation for the percentage of its mortgage loans that were non-current during February 2012. Montana, Wyoming, South Dakota, Alaska and North Dakota reported lower percentages of non-current loans during February.
The states with the highest rates of non-current loans were Florida, Mississippi and Nevada with non-current rates of 22.1 percent, 17.5 percent and 15.9 percent, respectively.
LPS Mortgage Monitor is an in-depth report of mortgage industry performance. The monthly report is based on data from the company’s market-leading repository of loan-level residential mortgage data and performance information, including more than 40 million active loans across the credit spectrum. This data is analyzed by LPS experts to produce more than 30 charts and graphs reflecting both trend and point-in-time performance observations.
(The March report includes data up through February.)
