Loss Mitigation

Record Jump in Non-Agency Jumbo Prime Foreclosure Starts: Report 

Lender Processing Services announced Wednesday its release of the February 2009 LPS Mortgage Monitor, which revealed a record increase in non-agency Jumbo Prime foreclosure starts as of month-end January 2009. Non-Agency Jumbo Prime foreclosure starts have increased the most of any product — nearly 125 percent since January 2008, according to the LPS report — as foreclosure starts across all major product types have continued to climb over the past several months, despite moratoria and mitigation actions.