LPS: Foreclosure Backlog Stands at 30x Foreclosure Sales Volume

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Before you know it, you’re stalking homes for sale on your home-browsing app, rearranging your schedule so you can do drive.LPS: Foreclosure Backlog Stands at 30x Foreclosure Sales Volume Lender processing services’ (lps) latest market report says foreclosure starts jumped 28 percent between December and January, and foreclosure sales.

After increases in both foreclosure starts and sales in January, LPS is reporting a sharp decrease in February across all investor classes. The foreclosure backlog continues to plague the industry.

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LPS: Foreclosure Backlog Stands at 30x Foreclosure Sales Volume The statistics on the homes not yet owned by the banks but are currently IN the foreclosure process are also staggering, with LPS reporting that the average loan currently in foreclosure has been delinquent for 537 days, and 30 percent of loans in foreclosure have not made payments.

Although our Origination Services business was strong, fueled by the high refinance volumes, this was offset by declines in Default Services, which continue to be impacted by industry-wide foreclosure.

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According to a report released yesterday by LPS (Lender Processing Services), "foreclosure inventory levels [stand] at 30 times monthly foreclosure sales volume." As a result of this massive backlog, real estate analysts expect more downward pressure on U.S. home values as most of these homes are likely to reenter the market as REO.

LPS: Foreclosure Backlog Stands at 30x Foreclosure Sales Volume DSNews | March 28, 2011 New data released by Lender processing services (lps) Monday show that while delinquencies continue to decline, an enormous backlog of foreclosures still exists with overhang at every level.

LPS: Foreclosure Backlog Stands at 30x Foreclosure Sales Volume – "New data released by Lender Processing Services (LPS) Monday show that while delinquencies continue to decline, an enormous backlog of foreclosures still exists with overhang at every level." Consumer Spending Keeps Rising – "U.S. consumer spending rose