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More homes entering foreclosure pipeline

RealtyTrac: Settlement gave lenders green light to resume actions against homeowners

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The number of homes entering the foreclosure pipeline picked up after last year's national mortgage settlement, a new report by foreclosure data aggregator RealtyTrac suggests. RealtyTrac's first-ever U.S. Foreclosure Inventory Analysis showed nearly 1.5 million U.S. properties were either in some stage of the foreclosure process or had been repossessed by lenders in the first quarter. That's a 9 percent jump from the same time a year ago, but still well below a December 2010 peak of 2.2 million homes, RealtyTrac said. CoreLogic today released an estimate that there were 1.2 million homes in some stage of foreclosure in February, down 21 percent from a year ago. CoreLogic does not include properties that have been repossessed by lenders in its tally of foreclosure inventory. RealtyTrac counts "real-estate owned" (REO) properties as foreclosure inventory until they're sold by lenders.   RealtyTrac said the increase in its foreclosure inventory tally was driven entirely by a ...