Vermont one of few states to see increase in bad mortgages

first_imgWhile Vermont still has the second fewest bad mortgages (delinquent plus foreclosed) east of the Mississippi, Vermont was one of only a handful of states that saw an increase in bad mortgages between October 2010 and October 2011, this is in contrast to the Unites States as a whole, which has seen a drop in non-current housing loans of 7.5 percent over the last year. Meanwhile, Vermont’s number has increased 5.7 percent. Vermont is one of only seven states to see an increase in bad mortgages.The October Mortgage Monitor report released by Lender Processing Services, Inc. (NYSE: LPS) shows mortgage delinquencies nationwide (see chart below) continue their decline, now nearly 30 percent off their January 2010 peak. Meanwhile, foreclosure inventories are on the rise, reaching an all-time high at the end of October of 4.29 percent of all active mortgages. The average days delinquent for loans in foreclosure extended as well, setting a new record of 631 days since last payment, while the average days delinquent for loans 90 or more days past due but not yet in foreclosure decreased for the second consecutive month.Judicial vs. non-judicial foreclosure processes remain a significant factor in the reduction of foreclosure pipelines from state to state, with non-judicial foreclosure inventory percentages less than half that of judicial states. This is largely a result of the fact that foreclosure sale rates in non-judicial states have been proceeding at four to five times that of judicial. Non-judicial foreclosure states made up the entirety of the top 10 states with the largest year-over-year decline in non-current loans percentages.The October data also showed that mortgage originations are on the rise, reaching levels not seen since mid-2010. Mortgage prepayment rates have also spiked, as much of the new origination is related to borrower refinancing; loans originated in 2009 and later are the primary drivers of the increase. While FHA origination activity is down, GSE and FHA originations still account for the vast majority of all new loans – nearly nine out of every 10 new mortgages.As reported in LPS’ First Look release, other key results from LPS’ latest Mortgage Monitor report include:Total U.S. loan delinquency rate: 7.93%Month-over-month change in delinquency rate: -2.0%Total U.S. foreclosure pre-sale inventory rate: 4.29%Month-over-month change in foreclosure pre-sale inventory rate: 2.5% States with highest percentage of non-current* loans: FL, MS, NV, NJ, ILStates with the lowest percentage of non-current* loans: ND, AK, SD, WY, MT*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.Notes:(1) Totals are extrapolated based on LPS Applied Analytics’ loan-level database of mortgage assets.(2) All whole numbers are rounded to the nearest thousand. About the Mortgage MonitorLPS manages the nation’s leading repository of loan-level residential mortgage data and performance information on nearly 40 million loans across the spectrum of credit products. The company’s research experts carefully analyze this data to produce a summary supplemented by dozens of charts and graphs that reflect trend and point-in-time observations for LPS’ monthly Mortgage Monitor Report. To review the full report, visit http://www.lpsvcs.com/NEWSROOM/INDUSTRYDATA/Pages/default.aspx(link is external).About Lender Processing Services Lender Processing Services, Inc. (LPS) is a leading provider of integrated technology, services and mortgage performance data and analytics to the mortgage and real estate industries. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation (Desktop®), portfolio retention and default, augmented by the company’s award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages by dollar volume are serviced using LPS’ loan servicing platform, MSP. LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, visit www.lpsvcs.com(link is external). JACKSONVILLE, Fla. – December 1, 2011last_img read more

Speech Thank Yous

first_imgI was watching an old rerun of Everybody Loves Raymond.  In this episode Ray was given an honorary degree from his Alma Mater.  In his acceptance speech he forgot to thank his wife.  This gave me an idea for today’s Huddle Up.Most coaches have to give an acceptance speech some time in their career.   On Coaches Corner after the season ends, the coach will usually thank the people who have helped during that season.  Who do you thank?  How long should the list be?  How do you keep from forgetting somebody?I have no sure fire suggestions on who should or should not be thanked.  One thing is for certain, you don’t forget your wife!!last_img read more

Novak Djokovic And Wife Jelena Welcome Baby Number Two

first_imgIt’s a girl!12-time tennis Grand Slam title winner, Novak Djokovic, and wife, Jelena have become parents for the second time. The baby was born on Saturday evening and will be named Tara.The couple met in high school and got engaged in September 2013 before marrying in an idyllic ceremony on Sveti Stefan in Montenegro on July 10, 2014.In October of the same year, the Serbs announced the birth of their son, Stefan.With the birth of baby number two and the expansion of the family, Novak Djokovic can look on the bright side after pulling out of the 2017 tennis season in July due to a recurring elbow injury.Maybe it was not terrible timing after all, as he can fully focus on his growing family at this time without tennis getting in the way.The current world number five might have missed the birth of baby Tara if he had been competing at the ongoing US Open in Flushing Meadows.Djokovic will return to tennis action at the start of the new season in January 2018 after giving himself time to recover fully.Tennis legend, Serena Williams also gave birth to a baby girl just a day before. It’s raining babies in September! Perhaps the newborn daughters of these two tennis greats would grow up to be tennis greats themselves. Too early to pressure them.Relatedlast_img read more