Mortgage delinquencies posted their
largest year-to-date drop since 2002, Lender Processing Services
reports. Delinquencies fell 15 percent during the end of December 2012
to May 2013.
New problem loan rates are approaching the pre-crisis average, says Herb Blecher, LPS Applied Analytics senior vice president.
....What’s more, delinquencies
of prime mortgages have fallen nearly 50 percent since the 2010 peak.
LPS says that foreclosure starts fell to their lowest number in May in the last 12 months.
Source: “Biggest Drop for Mortgage Delinquencies Since 2002,” Mortgage News Daily (July 8, 2013)