Delinquencies Down, But Foreclosures Up: Study

Law360, New York (June 14, 2007, 12:00 AM EDT) -- Though the delinquency rate for mortgage loans has begun to decrease, the number of subprime and other loans entering the foreclosure process has jumped to record revels, according to a recent study.

The Mortgage Bankers Association disclosed Thursday that the rate of loans entering the foreclosure process was 0.58% in the first quarter of this year, up from 0.54% in the fourth quarter of 2006 and 0.41% in the first quarter of 2006. As part of that increase, the rate of subprime, adjustable-rate loans going into...
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