The LPS Mortgage Monitor for September, 2011, has 24 charts to thrill you and chill you. Sample titles:
Market Overview: Over 4MM loans are 90+ days delinquent or in foreclosure
Over three quarters of all active loans are backed by the government (not to quibble, but the title should read “More than 3/4 of all…”
Jumbo prime delinquencies remain almost 300% higher than 2008 levels (the rich are apparently NOT getting richer – what do you want to bet that many of these delinquencies are by real estate agents who believed their own hype and bought expensive houses JUST before the crash in RE sales and RE commissions?)
Late stage delinquent inventories continue to decline (it’s not ALL bad news!)
There were 24 charts and maps in all. Cool US maps show states in trouble and other states doing better. Needless to say, Texas is doing quite well, compared to the other “sand states.” That’s probably because they have jobs down there. And possibly because the bubble mentality is more geared toward oil than RE and wary Texans probably remember the past few bubbles.
The main message we got is that foreclosures are taking out the delinquent loans and clearing the market. That would be more good news… eventually.