HousingWire reports this morning that loan quality on mortgages is up and the number of first-lien loans in foreclosure fell below 1 million, the lowest it has been since June 2009, according to a new report from the Office of the Comptroller of the Currency.
In the fourth quarter of 2012, servicers initiated 156,773 new foreclosures, the lowest number recorded since the first quarter of 2008, according to the OCC, HousingWire reports.
At the same time, the number of completed foreclosures also dropped 8.9 percent from a year earlier. Read HousingWire’s full article, “OCC: Number of loans in foreclosure reaches a three-year low.”
In other news:
FHFA expands suite of loan mod tools – HousingWire
Home price increase boosts stocks; S&P near high – Chicago Sun-Times