Lender Processing Services, Inc. (LPS), a Florida-based provider of mortgage technology and services, released its May 2009 LPS Mortgage Monitor on Tuesday, which provides market performance indicators based on mortgage data collected through April of this year.
LPS reported that total mortgage delinquencies in April rose slightly to 8.1 percent, with a year-over-year increase of 43 percent. In an interesting vintage delinquency analysis, the report shows that recent loans are showing a clear and steady trend of improvement through reduced delinquency rates.
LPS found that mortgages originated in 2009 have a lower default rate than those originated between 2004 to 2008.