The subprime crisis is far from over, according to the latest Mortgage Monitor from LPS.
Much of the data has gotten worse from mid-summer, due to declining home prices. The average length of delinquency is still rising. The rate of serious delinquency is still high, threatening to unleash a slew of new foreclosures. Foreclosure cure rates are dropping.
Finally, foreclosure inventory is climbing as banks refuse to take on bad assets.
Mortgage originations remain low -- and are expected to decline through the first half of 2011, according to the Mortgage Bankers Association
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