Unintended Consequences of Judicial vs Non-Judicial Foreclosure

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Posted To: MND NewsWire

The Lender Processing Services (LPS) Mortgage Monitor for January which was released on Thursday takes a detailed look at what it calls the "Time to Clear" default backlog and what might be termed the unintended consequences of legislative or judicial action in a few states. The report shows the now well-known divergence in the foreclosure pipelines of states that use judicial and non-judicial foreclosure processes but, as its Senior Vice President Herb Blecher says, even this now-familiar judicial/non-judicial dichotomy is not as clearly defined as it once was. While the overall trend of foreclosure activity has heading downward for months, January had one of the frequent upward blips. There were a total of 148,000 foreclosure starts in January, an increase of 8.3 percent from December, and...(read more)

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Source: http://www.mortgagenewsdaily.com/03072013_lps_mortgage_monitro.asp

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