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Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
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With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
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Average Loan in Foreclosure Delinquent a Record 587 Days
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Average Loan in Foreclosure Delinquent a Record 587 Days
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Average Loan in Foreclosure Delinquent a Record 587 Days

August 5, 2011 (Shirley Allen)

Foreclosure timelines continue to lengthen with the average loan in foreclosure now being delinquent for a record 587 days according to the June Mortgage Monitor Report by Lender Processing Services (LPS).

More than 40 percent of the homeowners whose loans were 90+ days past due have not made a payment in more than a year and 35 percent of the loans in foreclosure have been delinquent for more than two years.

The disparity in the foreclosure timelines between judicial and non-judicial states also continues to grow. The foreclosure pipeline ratio, the number of loans either 90+ days delinquent or in foreclosure divided by the six-month average of foreclosure sales, is more than three times higher in states that use the judicial foreclosure process than the states that use the non-judicial process.

Foreclosure starts gained momentum in June as the number of starts increased by more than 10 percent. For the year, foreclosure starts are still down 16.4 percent. More trouble may be brewing though as delinquencies were up 2.4 percent from May to June. The number of loans that were 90+ days delinquent or in foreclosure stood at 4.1 million at the end of June, 12.8 percent higher than in June of last year.

LPS also examined the possible impact of what the proposed Qualified Residential Mortgage (QRM) provisions could have had on loans that have been originated since 2005 and found that nearly half of the loans could have been ineligible under the proposed QRM rules, far higher than the 30 percent many industry analysts have predicted that QRM will affect if implemented.

Earlier highlights from LPS’s “First Look” report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 8.15% compared to 7.96% in May 2011

Month-over-month change in delinquency rate: 2.4% compared to -0.1% in May 2011

Year-over-year change in delinquency rate: -14.7% compared to -18.3% in May 2011

Total U.S foreclosure pre-sale inventory rate: 4.12% compared to 4.11% in May 2011

Month-over-month change in foreclosure presale inventory rate: 0.2% compared to -0.7% in May 2011

Year-over-year change in foreclosure presale inventory rate: 12.8% compared to 12.3% in May 2011

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 4,285,000 compared to 4,187,000 in May 2011

Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,906,000 compared to 1,921,000 in May 2011

Number of properties in foreclosure pre-sale inventory: (B) 2,167,000 compared to 2,164,000 in May 2011

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 6,452,000 compared to 6,350,000 in May 2011

States with highest percentage of non-current* loans: FL, NV, MS, NJ, IL (FL, NV, MS, NJ, IL in May 2011)

States with the lowest percentage of non-current* loans: MT, WY, AK, SD, ND (MT, WY, AK, SD, ND in May 2011)

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

Notes:
(1) Totals are extrapolated based on LPS Applied Analytics’ loan-level database of mortgage assets.
(2) All whole numbers are rounded to the nearest thousand.

Tags: LPS, mortgage delinquency rate, foreclosure inventory, non-current loans, Mortgage Monitor, foreclosure starts, foreclosure timelines

Source:
LPS

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

August 5, 2011 (Shirley Allen)

Foreclosure timelines continue to lengthen with the average loan in foreclosure now being delinquent for a record 587 days according to the June Mortgage Monitor Report by Lender Processing Services (LPS).

More than 40 percent of the homeowners whose loans were 90+ days past due have not made a payment in more than a year and 35 percent of the loans in foreclosure have been delinquent for more than two years.

The disparity in the foreclosure timelines between judicial and non-judicial states also continues to grow. The foreclosure pipeline ratio, the number of loans either 90+ days delinquent or in foreclosure divided by the six-month average of foreclosure sales, is more than three times higher in states that use the judicial foreclosure process than the states that use the non-judicial process.

Foreclosure starts gained momentum in June as the number of starts increased by more than 10 percent. For the year, foreclosure starts are still down 16.4 percent. More trouble may be brewing though as delinquencies were up 2.4 percent from May to June. The number of loans that were 90+ days delinquent or in foreclosure stood at 4.1 million at the end of June, 12.8 percent higher than in June of last year.

LPS also examined the possible impact of what the proposed Qualified Residential Mortgage (QRM) provisions could have had on loans that have been originated since 2005 and found that nearly half of the loans could have been ineligible under the proposed QRM rules, far higher than the 30 percent many industry analysts have predicted that QRM will affect if implemented.

Earlier highlights from LPS’s “First Look” report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 8.15% compared to 7.96% in May 2011

Month-over-month change in delinquency rate: 2.4% compared to -0.1% in May 2011

Year-over-year change in delinquency rate: -14.7% compared to -18.3% in May 2011

Total U.S foreclosure pre-sale inventory rate: 4.12% compared to 4.11% in May 2011

Month-over-month change in foreclosure presale inventory rate: 0.2% compared to -0.7% in May 2011

Year-over-year change in foreclosure presale inventory rate: 12.8% compared to 12.3% in May 2011

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 4,285,000 compared to 4,187,000 in May 2011

Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,906,000 compared to 1,921,000 in May 2011

Number of properties in foreclosure pre-sale inventory: (B) 2,167,000 compared to 2,164,000 in May 2011

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 6,452,000 compared to 6,350,000 in May 2011

States with highest percentage of non-current* loans: FL, NV, MS, NJ, IL (FL, NV, MS, NJ, IL in May 2011)

States with the lowest percentage of non-current* loans: MT, WY, AK, SD, ND (MT, WY, AK, SD, ND in May 2011)

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

Notes:
(1) Totals are extrapolated based on LPS Applied Analytics’ loan-level database of mortgage assets.
(2) All whole numbers are rounded to the nearest thousand.

Tags: LPS, mortgage delinquency rate, foreclosure inventory, non-current loans, Mortgage Monitor, foreclosure starts, foreclosure timelines

Source:
LPS

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

August 5, 2011 (Shirley Allen)

Foreclosure timelines continue to lengthen with the average loan in foreclosure now being delinquent for a record 587 days according to the June Mortgage Monitor Report by Lender Processing Services (LPS).

More than 40 percent of the homeowners whose loans were 90+ days past due have not made a payment in more than a year and 35 percent of the loans in foreclosure have been delinquent for more than two years.

The disparity in the foreclosure timelines between judicial and non-judicial states also continues to grow. The foreclosure pipeline ratio, the number of loans either 90+ days delinquent or in foreclosure divided by the six-month average of foreclosure sales, is more than three times higher in states that use the judicial foreclosure process than the states that use the non-judicial process.

Foreclosure starts gained momentum in June as the number of starts increased by more than 10 percent. For the year, foreclosure starts are still down 16.4 percent. More trouble may be brewing though as delinquencies were up 2.4 percent from May to June. The number of loans that were 90+ days delinquent or in foreclosure stood at 4.1 million at the end of June, 12.8 percent higher than in June of last year.

LPS also examined the possible impact of what the proposed Qualified Residential Mortgage (QRM) provisions could have had on loans that have been originated since 2005 and found that nearly half of the loans could have been ineligible under the proposed QRM rules, far higher than the 30 percent many industry analysts have predicted that QRM will affect if implemented.

Earlier highlights from LPS’s “First Look” report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 8.15% compared to 7.96% in May 2011

Month-over-month change in delinquency rate: 2.4% compared to -0.1% in May 2011

Year-over-year change in delinquency rate: -14.7% compared to -18.3% in May 2011

Total U.S foreclosure pre-sale inventory rate: 4.12% compared to 4.11% in May 2011

Month-over-month change in foreclosure presale inventory rate: 0.2% compared to -0.7% in May 2011

Year-over-year change in foreclosure presale inventory rate: 12.8% compared to 12.3% in May 2011

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 4,285,000 compared to 4,187,000 in May 2011

Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,906,000 compared to 1,921,000 in May 2011

Number of properties in foreclosure pre-sale inventory: (B) 2,167,000 compared to 2,164,000 in May 2011

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 6,452,000 compared to 6,350,000 in May 2011

States with highest percentage of non-current* loans: FL, NV, MS, NJ, IL (FL, NV, MS, NJ, IL in May 2011)

States with the lowest percentage of non-current* loans: MT, WY, AK, SD, ND (MT, WY, AK, SD, ND in May 2011)

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

Notes:
(1) Totals are extrapolated based on LPS Applied Analytics’ loan-level database of mortgage assets.
(2) All whole numbers are rounded to the nearest thousand.

Tags: LPS, mortgage delinquency rate, foreclosure inventory, non-current loans, Mortgage Monitor, foreclosure starts, foreclosure timelines

Source:
LPS

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS