In its Monthly Mortgage Monitor Report Lender Processing Services (LPS) will report that the national delinquency rate, loans that are 30 days or more late, but not in foreclosure, decreased 2.2 percent in January to 7.97 percent.  This is a drop of 10.5 percent from the rate in January 2011.  The total number of loans in the 30+ day delinquent category nationwide is 3,998,000.  Of those loans a total of 1,772,000 are seriously delinquent, that is 90+ days overdue but not yet in foreclosure.

The foreclosure inventory, loans that are in the process of foreclosure continues, to rise and is 1.1 percent higher than in December at 4.15 percent.  This is 1 basis point below where it was one year earlier.  Loans in foreclosure now number 2,084,000.

The total of mortgage loans that are at least one payment overdue stands at 6,082,000; 15.2 percent of the total LPS data base of 40 million loans.

The states with the highest rate of non-current loans are Florida, Mississippi, Nevada, New Jersey, and Illinois.  

The Monthly Mortgage Monitor Report will be published in its entirety on March 6.