Month over Month Increase of 2.3%, Year over Year Increase of 7.9%

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May Foreclosure Rate = 3.18%
Year over Year Increase of 13.5%

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Total Non-Current (including Delinquencies and Foreclosures) Florida 22.4%

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Foreclosure Starts –Nevada and Florida are still the hot spots

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JACKSONVILLE, Fla., July 6 /PRNewswire-FirstCall/ — The May Mortgage Monitor report released today by Lender Processing Services, Inc. (NYSE: LPS), a leading provider of mortgage performance data and analytics, shows a 2.3 percent month-over-month increase in the nation’s home loan delinquency rate to 9.2 percent in May 2010, and that early-stage delinquencies are increasing as normal seasonal improvements taper off. This report includes data as of May 31, 2010.

According to the Mortgage Monitor report, the percentage of mortgage loans in default beyond 90 days increased slightly, while both delinquency and foreclosure rates continue to remain relatively stable at historically high levels. There are currently more than 7.3 million loans currently in some stage of delinquency or REO.

The report also shows that the average number of days for a loan to move from 30-days delinquent to foreclosure sale continues to increase, and is now at an all-time high of 449 days, resulting in an increase in “shadow” foreclosure inventory.

After a two-month decline, deterioration ratios increased, with 2.5 loans rolling to a “worse” status for every one that has improved. The number of delinquent loans that “cured” to a current status declined for every stage of delinquency, except in the “greater than six months delinquent” category.  This improvement was likely the result of trial modifications made through the Home Affordable Modification Program (HAMP) that transitioned into permanent status.

Other key results from LPS’ latest Mortgage Monitor report include:

Total U.S. loan delinquency rate: 9.20 percent
Total U.S. foreclosure inventory rate: 3.18 percent
Total U.S. non-current* loan rate: 12.38 percent
States with most non-current* loans: Florida, Nevada, Mississippi, Georgia, Arizona, California, Illinois, New Jersey, Ohio and Indiana
States with the fewest non-current* loans: North Dakota, South Dakota, Wyoming, Alaska, Montana, Nebraska, Vermont, Colorado, Iowa and Minnesota

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

Note: Totals based on LPS Applied Analytics’ loan-level database of mortgage assets.

LPS manages the nation’s leading repository of loan-level residential mortgage data and performance information from nearly 40 million loans across the spectrum of credit products. The company’s research experts carefully analyze this data to produce dozens of charts and graphs that reflect trend and point-in-time observations for LPS’ monthly Mortgage Monitor Report.

About Lender Processing Services

Lender Processing Services, Inc. (LPS) is a leading provider of integrated technology and services to the mortgage and real estate industries. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation (Desktop), portfolio retention and default, augmented by the company’s award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages by dollar volume are serviced using LPS’ Mortgage Servicing Package (MSP). LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, visit www.lpsvcs.com.

SOURCE Lender Processing Services, Inc.

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4closureFraud.org

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LPS Mortgage Monitor June 2010 Mortgage Performance Observations