LPS: Huge Backlog of Foreclosures, Option ARM Foreclosures Skyrocket
March 29, 2011 (Jeff Alan) Lender Processing Services (LPS) released its February Mortgage Monitor Report revealing that a huge backlog of foreclosures continues to exist despite a continued decline in delinquencies. The data also shows a 23 percent increase in Option ARM foreclosures over the last six months, far higher than any other product type. [...]