LPS Mortgage Monitor - July 2012

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August 2012 Mortgage Performance Observations

Data as of July, 2012 Month-end

Published in: Economy & Finance, Business
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LPS Mortgage Monitor - July 2012

  1. 1. ONE SOURCE. POWERFUL SOLUTIONS. : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : LPS Mortgage Monitor August 2012 Mortgage Performance Observations Data as of July, 2012 Month-end Lender Processing Services 1
  2. 2. July 2012 “First Look”McDash Online Release: August 16th Lender Processing Services 2
  3. 3. DQs are down over 30% from peak; FCs still near all-time highs Lender Processing Services 3
  4. 4. Delinquencies and Foreclosures by State Average year over year change in non-current percent (includes loans 30+ Delinquent or in Foreclosure) Judicial =-3.1% Non-judicial =-8.7% Lender Processing Services 4
  5. 5. Non-judicial states have experienced greater improvement in non-current rates Non-Judicial: Down 31% from peak Washington, NJ and Vermont are still at historic highs Judicial: Down 13% from peak Few non-judicial statesremain close to peak levels Lender Processing Services 5
  6. 6. New problem loan rates remainslightly higher in judicial states Lender Processing Services 6
  7. 7. Further house price declines could lead to more new problems Lender Processing Services 7
  8. 8. Nationally, 18% of currentloans remain underwater Top 10 Negative State Equity % NV 54.7% GA 42.8% FL 33.1% MI 29.8% AZ 28.4% IL 27.4% ID 24.1% CA 23.7% MD 23.4% WA 22.2% Bottom 10 Negative State Equity % DC 3.3% TX 3.2% IN 2.9% MT 2.8% OK 2.6% LA 2.5% IA 2.4% NE 1.3% ND 1.0% WY 0.4% Lender Processing Services 8
  9. 9. Negative equity and new problem loan correlation is clear by geography Lender Processing Services 9
  10. 10. First time foreclosure startsremain near multi-year lows Lender Processing Services 10
  11. 11. While volumes are down, FC starts as a % of 90+ inventory are steady Lender Processing Services 11
  12. 12. Judicial and non-judicialforeclosure starts continue to diverge Lender Processing Services 12
  13. 13. Foreclosure inventory in judicial states is almost 3x non-judicial Lender Processing Services 13
  14. 14. Foreclosure startsoutnumber liquidations by 2:1 Lender Processing Services 14
  15. 15. Foreclosure sales in judicial states remained flat in July Lender Processing Services 15
  16. 16. Pipeline ratios in judicial states increased slightly Lender Processing Services 16
  17. 17. Pipeline issues in AR are resolving, NY and NJ are still extreme Lender Processing Services 17
  18. 18. Prepayment rates increased asmortgage rates hit historic lows Lender Processing Services 18
  19. 19. June originations at thehighest levels since 2010 Lender Processing Services 19
  20. 20. Refi participation has been steadily increasing in lower credit scores Lender Processing Services 20
  21. 21. 2011 originations have experiencedthe largest increase in prepayments Lender Processing Services 21

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