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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.
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LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
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LPS: Huge Backlog of Foreclosures, Option ARM Foreclosures Skyrocket
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
LPS: Huge Backlog of Foreclosures, Option ARM Foreclosures Skyrocket
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
LPS: Huge Backlog of Foreclosures, Option ARM Foreclosures Skyrocket

March 29, 2011 (Jeff Alan)
mortgage-skyrocket-image
Lender Processing Services (LPS) released its February Mortgage Monitor Report revealing that a huge backlog of foreclosures continues to exist despite a continued decline in delinquencies. The data also shows a 23 percent increase in Option ARM foreclosures over the last six months, far higher than any other product type.

The report cites three primary reasons for the enormous backlog in foreclosures:

– There are three times the number of loans deteriorating greater than 90+ days delinquent as compared to foreclosure starts;
– There are three times the number of foreclosure starts vs. foreclosure sales;
– Foreclosure inventory levels are over 30 times monthly foreclosure sale volume.

Option ARM foreclosures accounted for 18.8 percent of all foreclosures, a level the report notes, that was higher than sub-prime loans ever reached.

In addition, deterioration continues in the Non-Agency Prime segment. Both Jumbo and Conforming Non-Agency Prime loans showed increases in foreclosures and were the only product areas with increases in delinquencies.

LPS’ data also showed 22 percent of loans that were 90+ days delinquent 12 months ago are now current, which they attributed to banks’ loan modification efforts.

However, foreclosure timelines continued to be extended as the average foreclosure now has been delinquent for a record 537 days and a 30 percent of loans in foreclosure have not made a payment in two years.

Foreclosure inventories continue to grow as foreclosure starts decline and foreclosure suspensions, due to self-imposed moratoriums by mortgage servicers caused by paperwork scandals, slows the amount of foreclosures to market.

2010 originations peaked in Q4 2010, with government loans making up almost 87 percent of all originated loans. Prepayment rates (an indicator of refinance activity) have dropped sharply since, indicating that this is unlikely to continue into 2011.

Tags: LPS, Mortgage Monitor Report, foreclosure backlog, deteriorating loans, ARM foreclosures, sub-prime loans, delinquencies, loan modifications, foreclosure timelines

INSIDER CAR BUYING TIPS
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.
BUYING VS LEASING
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.
DEALER OR BANK FINANCING
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 ON THE INTERNET
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.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
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 SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
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

March 29, 2011 (Jeff Alan)
mortgage-skyrocket-image
Lender Processing Services (LPS) released its February Mortgage Monitor Report revealing that a huge backlog of foreclosures continues to exist despite a continued decline in delinquencies. The data also shows a 23 percent increase in Option ARM foreclosures over the last six months, far higher than any other product type.

The report cites three primary reasons for the enormous backlog in foreclosures:

– There are three times the number of loans deteriorating greater than 90+ days delinquent as compared to foreclosure starts;
– There are three times the number of foreclosure starts vs. foreclosure sales;
– Foreclosure inventory levels are over 30 times monthly foreclosure sale volume.

Option ARM foreclosures accounted for 18.8 percent of all foreclosures, a level the report notes, that was higher than sub-prime loans ever reached.

In addition, deterioration continues in the Non-Agency Prime segment. Both Jumbo and Conforming Non-Agency Prime loans showed increases in foreclosures and were the only product areas with increases in delinquencies.

LPS’ data also showed 22 percent of loans that were 90+ days delinquent 12 months ago are now current, which they attributed to banks’ loan modification efforts.

However, foreclosure timelines continued to be extended as the average foreclosure now has been delinquent for a record 537 days and a 30 percent of loans in foreclosure have not made a payment in two years.

Foreclosure inventories continue to grow as foreclosure starts decline and foreclosure suspensions, due to self-imposed moratoriums by mortgage servicers caused by paperwork scandals, slows the amount of foreclosures to market.

2010 originations peaked in Q4 2010, with government loans making up almost 87 percent of all originated loans. Prepayment rates (an indicator of refinance activity) have dropped sharply since, indicating that this is unlikely to continue into 2011.

Tags: LPS, Mortgage Monitor Report, foreclosure backlog, deteriorating loans, ARM foreclosures, sub-prime loans, delinquencies, loan modifications, foreclosure timelines

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
INSIDER CAR BUYING TIPS
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.
BUYING VS LEASING
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.
DEALER OR BANK FINANCING
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 ON THE INTERNET
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.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
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 SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
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

March 29, 2011 (Jeff Alan)
mortgage-skyrocket-image
Lender Processing Services (LPS) released its February Mortgage Monitor Report revealing that a huge backlog of foreclosures continues to exist despite a continued decline in delinquencies. The data also shows a 23 percent increase in Option ARM foreclosures over the last six months, far higher than any other product type.

The report cites three primary reasons for the enormous backlog in foreclosures:

– There are three times the number of loans deteriorating greater than 90+ days delinquent as compared to foreclosure starts;
– There are three times the number of foreclosure starts vs. foreclosure sales;
– Foreclosure inventory levels are over 30 times monthly foreclosure sale volume.

Option ARM foreclosures accounted for 18.8 percent of all foreclosures, a level the report notes, that was higher than sub-prime loans ever reached.

In addition, deterioration continues in the Non-Agency Prime segment. Both Jumbo and Conforming Non-Agency Prime loans showed increases in foreclosures and were the only product areas with increases in delinquencies.

LPS’ data also showed 22 percent of loans that were 90+ days delinquent 12 months ago are now current, which they attributed to banks’ loan modification efforts.

However, foreclosure timelines continued to be extended as the average foreclosure now has been delinquent for a record 537 days and a 30 percent of loans in foreclosure have not made a payment in two years.

Foreclosure inventories continue to grow as foreclosure starts decline and foreclosure suspensions, due to self-imposed moratoriums by mortgage servicers caused by paperwork scandals, slows the amount of foreclosures to market.

2010 originations peaked in Q4 2010, with government loans making up almost 87 percent of all originated loans. Prepayment rates (an indicator of refinance activity) have dropped sharply since, indicating that this is unlikely to continue into 2011.

Tags: LPS, Mortgage Monitor Report, foreclosure backlog, deteriorating loans, ARM foreclosures, sub-prime loans, delinquencies, loan modifications, foreclosure timelines

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?
DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?
WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
CALCULATE YOUR MORTGAGE PAYMENT
BENEFITS OF REFINANCING YOUR MORTGAGE
ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
INSIDER CAR BUYING TIPS
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.
BUYING VS LEASING
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.
DEALER OR BANK FINANCING
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 ON THE INTERNET
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.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
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.
SEARCH FOR A HOME
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

LoanRateUpdate

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