skip to main content

Listen

Read

Watch

Schedules

Programs

Events

Give

Account

Donation Heart Ribbon

New Numbers Show Lenders Are Gearing Up On Foreclosures

The real estate tracking firm DataQuick reports the number of Notices of Default in California jumped nearly 26-six percent from the second quarter to the third. Those notices are the first step in the foreclosure process.

DataQuick’s Andrew LaPage said the increase might have come as lenders worked out settlements after the “robo-signing” scandal – where mortgage papers were quickly signed without attention to detail.

“To hear some in the lending industry and the regulatory community tell it," said LaPage, "certainly changes to their procedures over the last year combined with increasing staffs for processing delinquent loans has something to do with why we saw those numbers jump over the last couple of months.”

LaPage said notices had dropped to a three year low in the second quarter.

Please stay on topic and be as concise as possible. Leaving a comment means you agree to our Community Discussion Rules. We like civilized discourse. We don't like spam, lying, profanity, harassment or personal attacks.

comments powered by Disqus