Industry NewsMortgage

Foreclosure starts fall, but pipeline full

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Foreclosure starts dipped below the 200,000 mark during April for the first time in years, but the foreclosure pipeline remained bloated by more than 4 million homes whose owners are in foreclosure or delinquent by 90 days or more.That's according to the latest numbers from loan data aggregator Lender Processing Services, which show foreclosure starts fell nearly 31 percent from March to April, totaling 187,423 -- a 14.7 percent decline from a year ago.LPS estimated that 2.18 million mortgages were in foreclosure, down nearly 2 percent from a record 2.22 million in March but up 9.5 percent from a year ago.Another 1.96 million mortgages were delinquent by 90 days or more in April, down about 1.5 percent from the previous month and 29 percent from a year ago.All told, LPS tallied 4.14 million loans in foreclosure or delinquent by 90 days or more at the end of April. Right-click to enlarge chartThose numbers are in line with the Mortgage Bankers Association's most recent National Delinque...