The performance of residential loans that are serviced by the nation’s financial institutions improved on a quarter-over-quarter basis. But the number of foreclosures started and finished worsened.
As of the first quarter of this year, 4.4 percent of all closed-end first-lien mortgages and home-equity loans serviced by banks were delinquent at least 30 days or in the foreclosure process.
The non-current rate for such bank-serviced assets improved compared to the final quarter of last year, when the rate was 5.3 percent, and the same quarter last year, when it stood at 5.1 percent.
Source: Mortgage Daily