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Tag Archives: Lender Processing Services

LPS: Early-Stage Delinquencies Drive Up September Total

Mortgage loan delinquencies increased 7.72 percent from August to September--the largest monthly increase since 2008, according to a report from Lender Processing Services (LPS). The upturn was substantial, even for a month historically marked by seasonal rises in delinquency, LPS said. However, company analysts say it is important to look at the longer-term trend, which shows a significant decrease in the delinquency rate since its January 2010 peak.

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LPS: 2012 Home Prices Up 4.6% as of August

August home prices across the United States were up an average 4.6 percent since the start of the year, according to data from Lender Processing Services' (LPS) Applied Analytics division. LPS' Home Price Index, which reflects transacted sales rather than recorded sales, revealed that the average U.S. home price increased to $205,000 in August, up 0.2 percent from July. The average home price in August 2011 was $199,000, or 2.6 percent less than this year's reading. The most recent price increase brings the HPI up 4.6 percent from January 2012.

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Refinance Activity Brings Prepayments to Seven-Year High

Mortgage delinquency rates fell in August as prepayment rates shot up, Lender Processing Services (LPS) revealed. LPS' August Mortgage Monitor report showed a national delinquency rate of 6.9 percent, consistent with the company's earlier first-look data. Delinquencies were down 2.3 percent from July and 10.6 percent from their January 2010 peak. The drop in delinquency was accompanied by a significant boost in prepayment rates, hitting an annualized rate of nearly 25 percent--a level not seen since 2005.

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Home Prices Climb 0.9% Year-Over-Year: LPS

Home prices ticked up by 0.9 percent year-over-year, according to Lender Processing Services. The Florida-based analytics and technology provider revealed that prices also rose by 0.7 percent month-over-month. Home values climbed by $203,000 on average, reflecting a 0.7-percent uptick from $202,000 last year. By state, California saw home prices ratchet up by 0.7 percent, with Texas dipping by 0.1 percent. Florida, New York, and New Jersey all saw increases by 1.3 percent, 1.7 percent, and 1.2 percent, respectively.

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LPS Settles With Missouri AG in Signing Errors Case

Lender Processing Services, Inc., announced Thursday that an agreement was reached between subsidiary DocX, LLC, and Missouri Attorney General Chris Koster. The agreement between the parties resulted in a dismissal of criminal charges pending against DocX. In February 2012, Koster obtained criminal indictments against DocX related to its alleged role in the mortgage-document surrogate signing scandal of 2010. Officials alleged that DocX earned approximately $363,000 in total revenue from mortgage documents with signing errors between 2008 and 2010.

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Home Prices Increase In May, as Delaware Leads: LPS

Lender Processing Services released Friday its latest Home Price Index report, showing that prices increased both month-over-month and year-over-year. The report, based on residential real estate transaction data as of the end of May, revealed that the home price index for the month was $202,000, a 0.9 percent month-over-month increase and a 3.2 percent increase from the start of the year. In addition, May's index represented a 0.4 percent year-over-year increase.

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High-LTV Originations See Sharp Increase Under HARP

Overall, mortgage originations declined in April. However, originations for loans with high loan-to-value ratios have been on the rise the past few months with April as no exception, according to the latest data from Lender Processing Services. The percentage of non-FHA originations has also been on the rise since for several months, and it did not drop off in April. In fact, non-FHA loan originations have risen steadily since November 2011 when they took up 20.2 percent of total loan originations to 33.8 percent in April.

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Home Prices Rise for First Time Since March 2010: LPS

Home prices rose by a seasonally adjusted 0.2 percent in February, the first increase since March last year, according to Lender Processing Services. The analytics and data provider said that several other indicators posted solid gains in February. Home prices averaged $195,000, the same as seen in June 2003. LPS also projected a 0.3 percent increase in national home prices on the whole come March. Of 26 metro areas surveyed by LPS and the Labor Department, only cities in California ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô Los Angeles, San Diego, and San Francisco ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô observed price declines.

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Before Slowing, Home Prices Slid 0.9% in January: LPS

Home prices slid 0.9 percent in January before likely slowing to a crawl in February, analytics provider Lender Processing Services said Monday. The company released a Home Price Index that showed home prices averaging $195,000, signaling a seventh straight month of price declines. Of nearly 600 metro areas, 524 encountered price declines, with a dip in prices for 39 states. Pittsburgh emerged from the largest 26 metro areas as the only city to experience increases in average home prices since January 2005.

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