Morning Minute: U.S. loans in foreclosure fall to three-year low

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 toolsHousingWire

Home price increase boosts stocks; S&P near highChicago Sun-Times

This entry was posted in Housing Market, Uncategorized by Stephanie Sievers. Bookmark the permalink.

About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior 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.

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