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Home | News | Foreclosure

Delinquency Rate Drops Below 5 Percent For First Time Since 2007

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The delinquency rate (percentage of residential mortgage loans 30 days or more past due but not in foreclosure) dropped to 4.70 percent for March (approximately 2.38 million loans), the first time the rate has been below 5 percent since August 2007. The rate fell by 12 percent since February, the largest month-over-month decline in nine years.

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Housing Advocates Ask Regulators to Investigate Possible Pro-Foreclosure Campaigns

investigation

The letter, dated April 15, is addressed to Department of Treasury Secretary Jack Lew, Federal Housing Finance Agency Director Mel Watt, and Consumer Financial Protection Bureau Richard Cordray. Ten housing groups signed the letter, which asks the regulators to investigate the investors for allegedly attempting to push borrowers into foreclosure instead of steering them toward loss mitigation plans.

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Foreclosure Completions Down Two-Thirds From 2010 Peak

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Foreclosure inventory, which is the number of homes in some state of foreclosure, totaled 553,000 in February (about 1.4 percent of all residential mortgages nationwide), the lowest total since March 2008 and a year-over-year decline of 27.3 percent from February 2014, when there were 761,000 homes in some state of foreclosure (1.9 percent of all residential mortgages).

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