Foreclosure timelines are on the rise, and the increase is resulting in greater losses to residential mortgage backed securities (RMBS), according to Moody’s Investor Service’s Servicer Dashboard for the fourth quarter 2011, released Thursday. The average loan in foreclosure has been in the process for 571 days, but judicial states are weighing heavily on that average. Foreclosures in judicial states have aged an average 654 days, while foreclosures in non-judicial states have aged an average 297 days, according to Moody’s.
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