Mortgage Default Rates Worsen Significantly In Third Quarter, Foreclosure Pipeline Grows
December 11, 2008
Mortgage default rates worsened in every conceivable way during the third quarter, producing a growing logjam of severely distressed loans as a result of over-taxed mortgage servicing operations and increasing pressure to avoid foreclosure. The Inside Mortgage Finance Large Mortgage Servicer Delinquency Index jumped 132 basis points from the second quarter... [Includes two charts]