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Month-end mortgage performance data in April continued to point to a recovery as delinquency and foreclosure rates posted record improvements, Lender Processing Services, Inc. (LPS) reported Wednesday. In April, the delinquency rate sunk below 6.5 percent for the first time since July 2008, according to the data provider. At 6.21 percent, the delinquency rate recorded a month-over-month decrease of 5.81 percent and a year-over-year decline of 9.61 percent. The foreclosure pre-sale inventory rate, which stood at 3.17 percent in April, plunged 24.55 percent from a year ago.
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The number of Americans in the foreclosure process plummeted by nearly 25% in the past year, according to Lender Processing Services First Look mortgage report for April. read more
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