Delinquencies See Biggest Year-to-Date Drop

Delinquencies See Biggest Year-to-Date Drop
Since 2002: Delinquencies saw the steepest year-to-date drop since 2002 in May as new problem loan rates inched toward pre-crisis lows, according to Lender Processing Services’ (LPS) Mortgage Monitor report released Monday.
Since the end of last year, the delinquency rate has fallen by more than 15 percent to 6.08 percent in May.

“Though they are still approximately 1.4 times what they were, on average, during the 1995 to
2005 period, delinquencies have come down significantly from their January 2010 peak,”

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