Although the quarterly non-current rate of residential loans serviced by banks worsened, foreclosures started and completed fell as did the foreclosure rate.

Loans that were at least 30 days past due or in the foreclosure process represented 5.3 percent of all loans serviced by the banks as of the fourth-quarter 2016.

The non-current mortgage rate deteriorated from 5.2 percent compared to three months earlier. But the rate improved versus 5.9 percent a year earlier.

Source: Mortgage Daily