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» VISIT US ONLINE @ DSNEWS.COM 91 Alaska RANK: 51 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MARCH 2014 1.10% 0.52% 6.6 YEAR AGO 1.17% 0.80% 6.4 YEAR-OVER-YEAR CHANGE -6.4% -35.6% 0.2 Top County FAIRBANKS NORTH STAR BOROUGH 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 2.18% 0.97% YEAR AGO 2.28% 1.16% YEAR-OVER-YEAR CHANGE -4.4% -16.8% Top Core-Based Statistical Area FAIRBANKS, AK 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 2.18% 0.97% YEAR AGO 2.28% 1.16% YEAR-OVER-YEAR CHANGE -4.4% -16.8% 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 March 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary March 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Arizona RANK: 44 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MARCH 2014 1.45% 0.70% 7.3 YEAR AGO 2.03% 1.50% 8 YEAR-OVER-YEAR CHANGE -28.5% -53.5% -0.7 Top County LA PAZ COUNTY 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 1.39% 1.49% YEAR AGO 2.74% 1.21% YEAR-OVER-YEAR CHANGE -49.2% 23.2% Top Core-Based Statistical Area NOGALES, AZ 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 2.70% 1.38% YEAR AGO 2.90% 2.81% YEAR-OVER-YEAR CHANGE -7.1% -50.8% 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 March 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary March 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. ARIZONA: Yavapai, Coconino, Gila County Holly Grigaitis Designated Broker 928.284.9367 reo@op onsaz.com op onsaz.com MEMBER California RANK: 42 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MARCH 2014 1.66% 0.78% 8.1 YEAR AGO 2.76% 1.47% 9.2 YEAR-OVER-YEAR CHANGE -39.9% -47.0% -1.1 Top County LASSEN COUNTY 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 2.29% 2.31% YEAR AGO 3.68% 2.39% YEAR-OVER-YEAR CHANGE -37.8% -3.3% Top Core-Based Statistical Area SUSANVILLE, CA 90+ Day Foreclosure Delinquency Rate Rate MARCH 2014 2.29% 2.31% YEAR AGO 3.68% 2.39% YEAR-OVER-YEAR CHANGE -37.8% -3.3% 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 March 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary March 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. IN THE NEWS California Foreclosure Starts Approach 8-Year Low For three straight quarters, California foreclosure starts remain little changed, hovering at a level last seen in early 2006. According to a market study released by DataQuick, steady economic growth and higher home values are responsible for the steady pace of new foreclosures. Lenders and servicers in the first quarter of 2014 recorded roughly 19,000 notices of default on Califor- nia house and condo owners, up 6 percent from the previous quarter. Compared to peak numbers of roughly 135,000 in Q1 2009, foreclosure starts have dropped significantly over the intervening years. However, DataQuick posits that the numbers could be misleading. "It may well be that the foreclosure starts in recent quarters don't reflect the ebb and flow of financial distress as much as they reflect a steady state of workload capacity on the part of the servicers. ey may well be just working their way through a backlog, stacks of paper piled high on desks," said John Karevoll, DataQuick analyst. is year's first quarter was the first to see a year-over-year increase in default filings since 2009, but that gain can be attributed to new laws in California, known as the "Homeowner Bill of Rights," which took effect in January and February of last year. e laws caused lenders and servicers to pause, artificially decreasing notices sent to homeowners and pushing foreclosure start numbers downward. DataQuick points out that most of the loans in California going into default are still from the 2005–2007 period. e median origination quarter reported by the company for defaulted loans is still the third quarter of 2006, noting that weak underwriting stan- dards peaked in that period of time. California homeowners were a median 9.8 months behind on their payments when the lender filed the notice of default. Borrowers owed a median $22,538 on a median $301,732 mortgage. e most active companies in the foreclosure process during Q1 were Wells Fargo (2,834), Bank of America (1,637), and Nationstar (1,282). "e trustees who pursued the highest number of defaults last quarter were Quality Loan Service Corp (for Wells Fargo and others), MTC Financial (Bank of America, Greentree, JPMorgan Chase) and Western Progressive (Ocwen and Deutsche Bank)," DataQuick said. California Home Sales Jump Higher in March e California Association of Realtors (CAR) reported 367,000 closed escrow sales of existing single-family detached homes, seasonally adjusted at an annualized rate.