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 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 is external). JACKSONVILLE, Fla. – December 1, 2011last_img read more

Cooper-Dyke instills winning mentality

first_imgRebound · Junior guard Jordan Adams and the Women of Troy look to improve on their early first round exit from the Pac-12 tournament. – Mariya Dondonyan | Daily TrojanAfter coming off a .500 season and losing their top three scorers and best two rebounders, it would be easy for the Women of Troy to panic looking toward the future.The USC women’s basketball team approaches the upcoming season as an opportunity to improve and challenge itself everyday, even months before the season begins.“Winning is a state of mind. It’s an attitude,”  USC women’s basketball head coach Cynthia Cooper-Dyke  said. “I think everything that we’re doing now in strength and conditioning is toward that winning.”Coming off a 15-15 (7-11 Pac-12) campaign one year ago, in which they fell in the first round of the Pac-12 Tournament, the Women of Troy look to return to the conference champion form they were in just two years ago and need to rely on a roster with much turnover.USC lost several players last season, including graduates Alexyz Vaioletama, the team’s leading scorer averaging 12 points per game, and Kaneisha Horn, an All-Pac-12 Defensive honorable mention selection. The team also lost two transfers and four other players who left the team.“At the end of the day, it takes experience, the veteran players that we still have helping out the freshmen,” Cooper-Dyke said. “It also takes coaches taking our time to teach players lessons that we want them to know.”Part of the incoming freshman class ready to make the quick transition to collegiate ball is left-handed New Zealand guard Khaedin Taito, who played for her national team at the under-16, -17 and -18 levels.Taito is one of four incoming foreign recruits, adding to freshman Australian forward Dani MIlisic and freshman guard Candela Abejón from Spain, as well as Harvard transfer graduate student Temi Fagbenle, from London, England.“Most of the foreign recruits don’t know about Stanford, they don’t care who Cal is, they’re just coming in as a USC Trojan to beat any opponent they’re going to play against,” Cooper-Dyke said. “It doesn’t matter who you’re facing, if you do what you’re supposed to do and stick to the game plan, you can beat anyone on any given day.”After opening the first half of last season with a 11-5 record, the Women of Troy went on to drop 10 of the last 14, a tally that Cooper-Dyke realizes cannot be repeated.“We need to be mentally tougher and be able to endure the season, understanding that our season could end in March or it could end in April,” Cooper-Dyke said. “This offseason we worked a lot on mental toughness, on strengthening and, of course, conditioning.”Though the season is still months out, the third-year coach said the summer sessions are pivotal for her team to work on their cardiovascular training and learning the heart of her system.“Some of those small things that end up being important, we want to teach those during the summer access period so that we’re not dealing with those during the season,” Cooper-Dyke said. “During the season we can focus on what offense we’re going to run, what defense we want to run, but the concepts they have down and the terminology they have down.“As for plans to utilize this new and improved conditioning program,Cooper-Dyke emphasized that her team will be more athletic than in the past and can use its training to get up and down the court more often.“I love the guard style, but you can’t get out and run unless you’re playing great defense,” Cooper-Dyke said. “We need to get back to our roots and cause some turnovers with our defense and that will allow us to get out on our fast breaks.”Though some people spent their summers relaxing in various vacation spots, Cooper-Dyke racked up the airline miles traveling to over eight different states ranging from Oregon to South Carolina — but not in search of the perfect beach day.“Between camps and recruiting and really trying to get the right players for our program, I’ve been doing nothing more than working 24 hours a day,” Cooper-Dyke said.The Women of Troy look to capitalize on their coach’s pursuit as the team’s quest for a second Pac-12 title continues this winter.last_img read more