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COMPLETED FORECLOSURES HIT 65-MONTH LOW LAMCONetwork to the asset manager's rescue! Okay, so we might not technically be superheroes, but our expansive network of vendors might just make you one. LAMCONetwork is a super-effective, super-convenient, all-in-one national REO vendor database. Our vendors represent real estate agents, property preservation companies, contractors, appraisers, title companies, mortgage companies, attorneys, and more. And with our efficient, free search engine, finding distressed asset service providers has never been easier. Let LAMCONetwork supercharge your success. PROUD SUPPORTERS OF THE FIVE STAR INSTITUTE Call our toll free number: 877.331.2664 Or visit our Web site: www.LAMCONetwork.com LAMCONetwork, a division of Lenders Asset Management Corporation—LAMCO $200 Instant Savings on Charter Memberships Use Promotional Code: Savings200 24 Data from CoreLogic shows 54,000 homes were lost to foreclosure in February of this year, a 7 percent decline from January's downwardly revised 58,000. The data provider reported a steeper 19 percent year-over-year drop for completed foreclosures. "February's 54,000 completed foreclosures is the lowest level nationally since September 2007," said Dr. Mark Fleming, chief economist for CoreLogic. A separate report from RealtyTrac corroborated CoreLogic's foreclosure storyline. RealtyTrac's February foreclosure market report indicated completed foreclosure sales taken back by lenders as REOs also slumped to their lowest level since September 2007, which equates to a 65-month span. RealtyTrac's REO tally for February was 45,038, 11 percent lower than the company's count for January and down 29 percent from February 2012. Although completed foreclosures are significantly below their year- and month-ago figures, the number remains elevated compared to pre-crisis levels. CoreLogic says monthly foreclosure completions averaged 21,000 between 2000 and 2006. CoreLogic also found a declining trend in foreclosure inventory. According to the data provider, homes in the process of foreclosure fell for the 16th straight month, accounting for 1.2 million homes in February compared to 1.5 million a year earlier. Nationwide, foreclosure inventory represented 2.8 percent of homes with a mortgage, according to CoreLogic, down from 3.5 percent in February 2012. RealtyTrac reported some pick-up in foreclosure starts during the same month. The foreclosure tracking company says newly initiated foreclosures increased 10 percent from January to February after three straight months of declines. Year-over-year, however, foreclosure starts were down 25 percent. "At a high level the U.S. foreclosure inferno has been effectively contained and should be reduced to a slow burn in the next two years," commented Daren Blomquist, VP at RealtyTrac. However, Blomquist added, "[D]angerous foreclosure flare-ups are still popping up in states where foreclosures have been delayed by a lengthy court process or by new legislation making it more difficult to foreclose outside of the court system. Foreclosure starts have been steadily building in those states over the last several months and likely will end up as bank repossessions or short sales later this year."

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