The Mortgage Bankers Association (MBA) sees a light at the end of the tunnel, citing an ease in foreclosure rates with the fourth quarter of 2009 seeing a smaller percentage of delinquent mortgages and a drop in those entering foreclosure.

In a written statement, their chief economist, Jay Brinkmann, stated: "We are likely seeing the beginning of the end of the unprecedented wave of mortgage delinquencies and foreclosures that started with the subprime defaults in early 2007."

The MBA survey took a look at 44.4 million loans on one- to four-unit residential properties, or about 85% of all first-lien residential mortgage loans that are outstanding in the country. The good news is fewer problem loans are entering delinquency.

Read more about the survey and its findings on RISMedia.

Posted in Mortgage, Real Estate Market Conditions, Foreclosure, Real Estate Industry, National News

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