The national foreclosure inventory continued to decline in late 2012 with November’s foreclosure inventory rate falling to 3.51 percent, a nearly 10 percent drop from September, according to the latest Mortgage Monitor report from analyst Lender Processing Services (LPS).
“LPS believes the sharp two-month drop between September and November reflects the impact of servicing requirements from the National Mortgage Settlement taking hold and delaying foreclosure starts,” HousingWire reports in today’s article, “National foreclosure inventory drops: LPS.”
In other news:
Friday is deadline to apply for part of $25B mortgage settlement – Chicago Tribune
New mortgage rules will help banks, borrowers – Chicago Sun-Times