JACKSONVILLE, Fla. – March 26, 2009 – Lender Processing Services, Inc. (NYSE:LPS), a leading provider of integrated technology and services to the mortgage industry, today announced its release of the March 2009 LPS Mortgage Monitor, an in-depth report of mortgage industry performance indicators as of February month end. The monthly report is based on data from the company’s market-leading repository of loan-level residential mortgage data and performance information, including more than 34 million active loans across the credit spectrum. This data is analyzed by LPS to produce nearly 20 charts and graphs reflecting both trend and point-in-time performance observations.
Among the findings, LPS reports that mortgage loan delinquencies declined marginally in February, but seasonality should have had a much greater impact. In prior years, the December to February decrease in delinquencies has averaged 6.5%, but the decrease in delinquencies was only 1% from December 2008 through February 2009. The report also reveals an interesting comparison between foreclosure starts across prime and Alt-A products versus foreclosure starts for subprime loans; it also demonstrates a dramatic acceleration in the pace of Non-Agency Jumbo and Agency foreclosure starts. In addition, the report illustrates that agency foreclosure sales approached an all-time high during the two-week period when Freddie Mac and Fannie Mae lifted moratoriums, as well as provides key analysis on other mortgage market factors.
To review the full report, listen to an audio presentation of the report or access an executive summary, visit http://www.lpsvcs.com/NEWSROOM/INDUSTRYDATA/Pages/default.aspx.
About Lender Processing Services
Lender Processing Services, Inc. (LPS) is a leading provider of integrated technology and services to the mortgage industry. LPS offers solutions that span the mortgage continuum, including lead generation, origination, workflow automation (Desktop), servicing, portfolio retention and default, augmented by the company’s award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages are serviced using LPS’ Mortgage Servicing Package (MSP). In fact, many of the nation’s top servicers rely on MSP, including seven of the top 10 and 16 of the top 20. 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.
Investor Contact: Parag Bhansali, 904.854.8640, parag.bhansali@lpsvcs.com
Media Contact: Michelle Kersch, 904.854.5043, michelle.kersch@lpsvcs.com