US DATA: MBA Q4 mtgs in foreclosure were 4.63%, vs 4.39% in Q3 and 4.58%
in Q4:2009, and the latest ties for the highest percentage since 1972.
MBA said “As we had predicted last quarter, the percent of loans in
the foreclosure process increased in the fourth quarter, largely due to
the foreclosure paperwork issues that were being addressed in September
and October. These issues caused a temporary halt in foreclosure sales,
particularly in states with judicial foreclosure regimes, such as New
Jersey, Florida, and Illinois.” Q4 mtg delinquencies were 8.22% vs 9.13%
in Q3 and 9.47% a yr ago.