US: Loans Going Bad Faster Than the Fixes

[BoyRacer]

Loans Going Bad Faster Than the Fixes -> cnbc.com/id/35878820

The good news is the pace of loan deterioration is slowing.
The bad news is we are still seeing record high delinquencies, and new delinquencies are outpacing loss mitigation efforts.
Lender Processing Services put out its Mortgage Monitor report today, and the numbers are really staggering.

• Loans delinquent/in foreclosure process: 7.5 million
• REO/Post-sale foreclosure: 1 million
• Loans that were current 1/1/09 and 60+ days delinquent 1/1/10: 2.5 million
  That last one is interesting, because it shows how much faster loans are going bad than are being modified

there is more