by Calculated Risk on 2/21/2012 04:02:00 PM

LPS released their First Look report for January today. LPS reported that the percent (and number) of loans delinquent declined in January from December, but that the percent (and number) of loans in the foreclosure process increased slightly.

The following table shows the LPS numbers for January 2012, and also for last month (Dec 2011) and one year ago (Jan 2011).

LPS: Loans Delinquent and in Foreclosure
	Jan-12	Dec-11	Jan-11
Delinquent	7.97%	8.15%	8.90%
In Foreclosure	4.15%	4.11%	4.16%
Less than 90 days	2,226,000	2,309,000	2,551,000
More than 90 days	1,772,000	1,792,000	2,168,000
In foreclosure	2,084,000	2,066,000	2,203,000
Total	6,082,000	6,167,000	6,922,000

At the current rate of decline, the number of delinquent lonas will be back to "normal" in about three years (around 4.5% to 5% of loans are delinquent even in good times). However the number of loans in the foreclosure process hasn't change year-over-year - although that will probably change soon with the mortgage servicer settlement (around 0.5% of loans in foreclosure is "normal").