Foreclosures, foreclosure starts hit record highs 
MBA expects 1.5 million foreclosure starts in '07
By Matt Carter, Thursday, December 6, 2007.The rate of foreclosure starts and the percentage of loans in foreclosure hit record highs during the third quarter, suggesting 1.5 million homes will enter the foreclosure process in 2007, the Mortgage Bankers Association reported today.
Subprime adjustable-rate mortgages (ARM) saw the sharpest increase in the rate of foreclosure starts, and continue to account for a disproportionate share of bad loans.
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