LPS: Foreclosure Backlog Stands at 30x Foreclosure Sales Volume

The company reports that the average loan in foreclosure right now has been delinquent for a record 537 days, and 30 percent of loans in foreclosure have not made a payment in over two years.

The February Mortgage Monitor report released by lender processing services Inc. (LPS) shows that while delinquencies continue to decline, an enormous backlog of foreclosures still exists with overhang at every level. As of the end of February, foreclosure inventory levels stand at more than 30 times monthly foreclosure sales volume, indicating this backlog will continue for quite some time.

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The company reports that the average loan in foreclosure right now has been delinquent for a record 537 days, and 30 percent of loans in foreclosure have not made a payment in over two years.

If HARP 2.0 volume is significant. that broke in late 2010 which created a backlog as banks spent more time making sure paperwork was legal and proper. In fact the average time it took to process a.

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LPS: Foreclosure Backlog Stands at 30x Foreclosure Sales Volume Approximate date of commencement of proposed sale to the public: As soon as practicable after this Registration Statement becomes effective. If any of the securities being registered on this Form are.

Blitzer, chairman of the index committee at Standard & Poor’s. ââ¬Å”These data confirm what we have seen with recent housing starts and sales reports,ââ¬Â Blitzer continued. ââ¬Å”The housing.

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LPS: Foreclosure Backlog Stands at 30x Foreclosure Sales Volume After increases in both foreclosure starts and sales in January, LPS is reporting a sharp decrease in February across all investor classes. The foreclosure backlog continues to plague the industry. florida veterans home Loans has been originating VA Guaranteed Loans since 2002.

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LPS: Foreclosure Backlog Stands at 30x Foreclosure Sales Volume As of the end of February, foreclosure inventory levels stand at more than 30 times monthly foreclosure sales volume, indicating this backlog will continue for quite some time. Ultimately, these foreclosures will most likely reenter the market as REO properties, putting even more downward pressure on U.S. home values.