Lender Processing Services just put out its "Mortgage Monitor Report," and
we have a new record:
The nation's foreclosure inventories reached record highs. February's
foreclosure rate of 3.31 percent represented a 51.1 percent year-over-year
increase. The percentage of new problem loans also remains at a five-year
high. The total number of non-current first-lien mortgages and REO
properties is now more than 7.9 million loans. Furthermore, the percentage
of new problem loans is also at its highes