JACKSONVILLE, Fla. – April 28, 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 April 2009 LPS Mortgage Monitor, an in-depth report of mortgage industry performance indicators as of March 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 40 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 the number of newly delinquent loans declined in March. However, the month-over-month March decline in delinquencies is about half as much, on a percentage basis, as the average in the same timeframe from 2002-2007 (5.8% vs. 14%). In fact, new delinquencies fell to their lowest level of the last 12 months.
On the other end of the spectrum, foreclosure inventories experienced the highest monthly increase in nearly three years.
The report also evaluates recidivism rates on modified loans, prepayment activity, early default findings and much more.
To review the full 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 eight of the top 10 and 14 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