The number of completed foreclosures fell by nearly 50% from the third to the fourth quarters as servicers came under pressure from state and federal regulators to correct their foreclosures processes and agree to a civil settlement.

A new servicing report by Office of the Comptroller of the Currency (OCC) and Office of Thrift Supervision (OTS) shows that nine of the largest bank and thrift servicers completed 95,050 foreclosures in the fourth quarter, compared to 186,850 in the third quarter.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.