Can Technology Ease Defaults?
By Anthony Garritano
Grim news came from the Mortgage Bankers Association a month ago when the institution reported on one of the most striking indicators of weakening housing conditions yet, as the rate of loans entering foreclosure reached a record high in the fourth quarter of 2006. Specifically, the rate of home loans entering foreclosure rose to 0.54% in the fourth quarter of last year, a record for the MBA's 35-year-old National Delinquency Survey.
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