St. Louis Fed: Foreclosure Crisis Nears Conclusion … The Mortgage Segment Has FLATLINED
The U.S. mortgage crisis is drawing to a close. That, at least, is the assessment of the Federal Reserve Bank of St. Louis, which stated recently that the final remnants of the recession’s “historically elevated rates of extreme mortgage distress and defaults” are largely in the rear view mirror and that the foreclosure crisis should officially end early this year.
All that is left in the Mortgage Segment is a low volume of $3 inspections tasked out by some of the worst Mortgage Order Mills (MOMs). The mortgage segment is like Chicago … a center of crime. Lives are destroyed every day.