Lender Processing Services (LPS) published a "first look" at month-end mortgage performance statistics for May which continue to show substantial improvement in various measures of loan delinquency. The data released on Tuesday will be included in greater detail in the LPS Mortgage Monitor report scheduled for release in early July.
LPS reports that the U.S. delinquency rate declined 2.11 percent last month and is now 12.01 percent below its level in May 2012. The current delinquency rate is 6.08 percent. There are currently 3.043 million properties that are 30 or more days past due but not yet in foreclosure. Of those, 1.334 million are 90 or more days past due.
The national foreclosure pre-sale inventory rate is 3.05 percent, down 3.91 percent from April and 26.98 percent below the rate one year ago. There are 1.525 million homes in some stage of foreclosure. There are a total of 4.569 million mortgaged properties that are either 30 or more days past due or in the process of foreclosure.
The states with the highest percentage of non-current loans are Florida New Jersey, Mississippi, Nevada, and New York.