Non-Agency Jumbo Prime foreclosure starts have increased the most of any product — nearly 125 percent since January 2008, according to the LPS report — but foreclosure starts across all major product types have continued to climb over the past several months, despite moratoria and mitigation actions.
LPS found the pace of growth in foreclosure inventory was highest in Jumbo Prime and Option ARMs. “Even over a shortened period of time, acceleration of deterioration in Jumbo Prime exceeds all other product,” read the report.
BOOYAH, BITCHES!
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