JACKSONVILLE, Fla., Sept. 2 /PRNewswire/ -- The July Mortgage Monitor report released by Lender Processing Services, Inc. (NYSE: LPS) shows that foreclosure starts are on the rise, with seriously delinquent loans – those six or more months delinquent – dominating new foreclosure actions.

The increase in foreclosure starts is consistent with the Department of Treasury's latest report that approximately half of all Home Affordable Modification Program (HAMP) trial modifications resulted in cancellation, though 45.4 percent of those have resulted in alternative (non-HAMP) modifications.

Delinquent and foreclosure inventories continue to stabilize but have yet to show annual declines. Continuing the trend from June, agency prime loans have seen the greatest month-over-month increase in foreclosure inventory and the second highest percentage increase since January 2009. Only non-agency jumbo prime loans have experienced a greater increase during the same period, but the month-over-month results indicate that this inventory has begun to decline.

The report also shows that approximately 895,000 loans that were current at the beginning of January are at least 60 days delinquent or in foreclosure as of the end of July – a month-over-month increase of 120,000 loans. Cure rates remain steady overall, but seriously delinquent cures have declined significantly, by approximately 25 percent, which is consistent with the decline in permanent modifications established during the month of July.

About the Mortgage Monitor

LPS manages the nation's leading repository of loan-level residential mortgage data and performance information on nearly 40 million loans across the spectrum of credit products. The company's research experts carefully analyze this data to produce a summary supplemented by dozens of charts and graphs that reflect trend and point-in-time observations for LPS' monthly Mortgage Monitor Report.

To review the full report, listen to a presentation of the report, access an executive summary or view a summary of the disclosures and definitions related to the survey, 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, services and mortgage performance data and analytics, to the mortgage and real estate industries. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation (Desktop), portfolio retention and default, augmented by the company's award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages by dollar volume are serviced using LPS' Mortgage Servicing Package (MSP). 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.

SOURCE Lender Processing Services, Inc.

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