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» Montana rank: 42 90+ Day Delinquency Rate Foreclosure Rate February 2013 1.3% Unemployment Rate 1.3% 5.6% year ago 1.4% 1.9% 6.1% year-over-year change -6.9% -32.1% -8.2% Top County BroadwaTer CounTy 90+ Day Delinquency Rate Foreclosure Rate February 2013 1.9% 3.6% year ago 2.6% 2.2% year-over-year change -26.8% 60.5% "[N]umerous Montana trial courts have consistently upheld MERS' legal capacity to exercise the rights granted to it by borrowers in a deed of trust, consistent with the findings of other courts around the nation," Judge Brown wrote. "Montana law permits MERS to act as nominee for the lender in exercising the rights of a beneficiary under § 71-1-303, MCA, as the Deed of Trust expressly provides in this case." VISIT US ONLINE @ DSNEWS.COM Nevada rank: 7 90+ Day Delinquency Rate Foreclosure Rate February 2013 5.8% Unemployment Rate 5.2% 9.6% year ago 7.2% 6.0% 11.8% year-over-year change -20.1% -13.2% -18.6% Top County Nye CouNTy 90+ Day Delinquency Rate Nebraska 5.3% rank: 46 90+ Day Delinquency Rate Foreclosure Rate February 2013 1.7% Foreclosure Rate February 2013 7.4% year ago Unemployment Rate 1.1% 3.8% 6.2% 7.0% year-over-year change -15.1% 6.3% year ago Top Core-Based Statistical area KaliSpell, MT 90+ Day Delinquency Rate Foreclosure Rate 1.7% 1.4% -3.3% -22.5% February 2013 1.5% 1.5% 3.3% year-over-year change -4.0% -34.7% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the February 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary February 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. -5.0% Foreclosure Rate February 2013 3.1% 3.4% year ago 2.9% 4.1% year-over-year change 8.5% PAhrumP, NV 90+ Day Delinquency Rate Foreclosure Rate 5.3% BurT CouNTy 90+ Day Delinquency Rate Top Core-Based Statistical Area February 2013 Top County 2.1% year ago 4.0% year-over-year change -18.4% 7.4% year ago 6.2% 7.0% year-over-year change -15.1% 6.3% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the February 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary February 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. Top Core-Based Statistical Area LexiNgToN, Ne FROM THE BENCH 90+ Day Delinquency Rate Foreclosure Rate IN THE NEWS February 2013 Montana Court Rejects Wrongful Foreclosure Complaint A Montana court rejected claims from plaintiffs of wrongful foreclosure and ruled in favor of Mortgage Electronic Registration Systems, Inc. (MERS) and other defendants. In the case McCarthy v. Capitol Commerce Mortgage Co., Judge John C. Brown of the Montana 18th Judicial District Court dismissed the plaintiffs' three-count argument, which asserted their loan actually wasn't a loan, challenged the role of MERS (specifically the assignments of the deed of trust), and claimed the defendants "are required to show the entire chain of title of the note and the entire chain of title of the mortgage," according to court documents. After reviewing the complaint, the court determined "all statutory prerequisites for nonjudicial foreclosure were met and that Defendants had the right to commence foreclosure proceedings as a matter of law." 1.5% 1.8% year ago 1.8% 2.4% year-over-year change -18.5% -22.4% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the February 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary February 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. STAT INSIGHT 10.9% Share of mortgaged Nebraska homes in a negative equity position. Source: CoreLogic Foreclosure Starts Pick Up in Nevada Industry reports indicate new foreclosure actions in Nevada are climbing. At the same time, the number of days it takes to process a foreclosure in the state has more than doubled. Nevada passed state legislation that took effect in October 2011 and aimed to increase homeowners' protections in foreclosure. Assembly Bill 284 makes it a felony for lenders to foreclose without first demonstrating they own the mortgage. The added steps to process a foreclosure case delayed foreclosures in the state with properties lingering in the pipeline for extended periods. In recent months, however, foreclosure starts have begun to rise as servicers have adjusted to the new requirements and resumed stalled actions against delinquent borrowers. In March, Nevada recorded 2,188 notices of default, which signals the first step of foreclosure in the state. That monthly tally is up 88 percent from March 2012, according to 97