When Judicial and Non-Judicial Lines Blur

Herb Blecher

In January 2010, at the peak of the housing crisis, national mortgage delinquencies topped out at 10.6 percent of all active loans. As we know, conditions have improved significantly since then. As of the end of May 2013, that number was 6.1 percent – representing a 43 percent decline from the peak.

However, as LPS has been reporting for years, there continue to be large differences in distressed inventory resolution between judicial and non-judicial states. The pace of recovery has clearly diverged between the two and is greatest when we specifically focus on those loans in foreclosure. Continue reading