Tim Rood wrote an interesting post today on
Here’s a quick excerpt
Foreclosure starts in the
second quarter of 2013 were down to half the level of a year earlier the Office
of Comptroller of the Currency (OCC) said on Thursday. There were 150,592 new foreclosures initiated
during the quarter, down 50.8 percent from the second quarter of 2012 and the
fewest in any quarter since early 2008.
OCC noted significant
improvements in most but not all measures of delinquency in its second quarter
Mortgage Metrics Report. The
report provides performance data on first-lien residential mortgages that
represent 52 percent of all those outstanding in the U.S; approximately 26.5
million loans with $4.5 trillion in unpaid principal balances.
Strengthening
economic conditions, aggressive foreclosure prevention assistance, regulatory
actions, and home forfeitures contributed to the improved performance, OCC
said. The metrics also improved due to
servicing transfers from the selected national banks and one federal savings
association included in the report. The
number of loans covered in the report has decreased 13.0 percent from a year
ago and 23.3 percent [...]
Read the rest of this great post here
