Quarterly delinquency on residential loans serviced by banks moved lower, as did the number of foreclosures that were initiated and completed.

Delinquency of at least 30 days, including foreclosures in process, was 5.2 percent as of the third-quarter 2016 on first liens serviced by banks.

The non-current rate improved from the previous quarter’s 5.3 percent. It was also lower than 6.1 percent as of the same quarter a year previous.

Source: Mortgage Daily