Morning Minute: New report finds a drop in national foreclosure inventory

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 settlementChicago Tribune

New mortgage rules will help banks, borrowersChicago Sun-Times

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About Stephanie Sievers

Stephanie Sievers is Associate Editor for the Illinois Association of REALTORS®. She serves as Associate Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.