California Delinquencies Recede

I am quoted in today’s Los Angeles Times, on a piece by E. Scott Reckard related to a slight decrease in California homeowner delinquencies.  In a separate report, the Mortgage Bankers Association announced in its Q1 report that delinquencies nationwide were slightly lower while foreclosures were slightly higher, indicating that we are gradually working through the logjam of excess shadown housing inventory.  All good news.  Link below:

http://www.latimes.com/business/la-fi-0520-late-loans-20100520,0,7557172.story