WASHINGTON - The number of home foreclosures in process and delinquent mortgages rose during the second quarter, while home retention actions also rose, U.S. bank regulators said on Wednesday.
Foreclosures jumped 16 percent during the second quarter to 2.9 percent of serviced mortgages, and home retention actions such as loan modifications rose 21.7 percent, the Office of the Comptroller of the Currency and the Office of Thrift Supervision said in a report.
The mortgage data reported for the second quarter of 2009 continued to reflect negative trends influenced by weakness in economic conditions including high unemployment and declining home prices in weak housing markets, the report said.
The report covers mortgages serviced by most of the industry's largest mortgage servicers, whose loans make up about 64 percent of all mortgages outstanding in the United States.
(Reporting by Karey Wutkowski, editing by Gerald E. McCormick)