Report: R.I. remains 7th in nation for foreclosures, delinqencies

Rhode Island had the seventh-highest rate of foreclosure and loan delinquency in the nation in June even as the rate declined from June 2012, according the Mortgage Monitor report released Monday by Lender Processing Services. More

To continue reading this article, please do one of the following.



Economic Indicators

Report: R.I. remains 7th in nation for foreclosures, delinqencies

BLOOMBERG FILE PHOTO/JEFF KOWALSKY
RHODE ISLAND had the seventh-highest rate of mortgages in delinquency or foreclosure in June.
Posted 8/5/13

JACKSONVILLE, Fla. – Rhode Island had the seventh-highest rate of foreclosure and loan delinquency in the nation in June even as the rate declined from June 2012, according the Mortgage Monitor report released Monday by Lender Processing Services.

Of all active mortgages in the Ocean State, 12.3 percent were in foreclosure or some state of delinquency in June, compared with 12.7 percent in June 2012.

The foreclosure rate fell in that time, from 4 percent in June last year to 3.2 percent in June 2013. Foreclosures edged up slightly from May, when the rate was 3.1 percent.

A higher percentage of mortgages were in some state of delinquency year over year, with 9.1 percent in June compared with 8.7 percent a year ago. The delinquency rate – which LPS calculates as any loan 30 days or more past due – increased month to month as well, up from 8.4 percent in May.

In a statement, Herb Blecher, LPS applied analytics senior vice president, noted that a June spike in new delinquencies month over month is typical.

Nationwide, delinquencies fell in June to 6.68 percent from 7.14 percent in June 2012. Foreclosures fell from 4.09 percent to 2.93 percent in the same period.

Last week, data tracker CoreLogic reported that 2.3 percent of homes in the Ocean State were in the process of foreclosure in June, with at least some of the difference between that and LPS’s figure coming from the the fact that LPS counts mortgages in foreclosure once a servicer has sent it to an attorney for foreclosure, while CoreLogic only counts foreclosures that have been placed in the process of foreclosure.

Calendar
PBN Hosted
Events

See the List of 2014 Winners. And save the date - September 10th - for the 3rd Annual Fastest Growing & Innovative Companies program at Rosecliff Mansion in Newport.
  • Healthiest Employers
    Thank you to all who attended the 3rd Annual Healthiest Employers Luncheon today ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement