The national delinquency rate increased 7.7% between August and September; this percentage represents the largest delinquency increase in four years. The increase in delinquencies still is 30% lower than the high levels that were set in January 2010. From August to September, foreclosure starts and sales as well as loan prepayments and delinquency cures decreased from August levels.
The percentage of home loans re-defaulting after loan modification sharply decreased between August and September. Originations increased drastically as many homeowners used HARP to refinance their mortgages.
High LTV HARP originations made up a fourth of all August originations. Originations increased 13.2% between August and September and rose by 42.1% when compared to 2011.
States with the highest amount of non-current loans include: Louisiane, New Jersey, Nevada, Mississippi and Florida. States with the lowest amount of non-current loans include: North Dakota, Alaska, Montana, Wyoming and South Dakota.
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