Foreclosure and Delinquincy Rates Still High

According to Lender Processing Services (NYSE: LPS),  there are now more than 6 million delinquent mortgages in the U.S.  A delinquent loan is any loan that is at least 30 days past due, which of course includes those currently in foreclosure.  LPS is a loan servicing conglomerate that maintains a database of roughly 40 million mortgage loans at a given time, which gives them considerable perspective in terms of national trends and statistics.  According to their calculation, the mortgage delinquency rate (MDR) is nearly 8 percent, which does not include mortgages that are in the foreclosure process. Therefore, the national  foreclosure inventory is now estimated to be nearly 2.1 million. The actual mortgage delinquencies then total 4 million.  Of those delinquencies, a staggering 44.3% are more than 90 days delinquent.