The foreclosure rate on subprime mortgages held steady at 17% in the second quarter, according to figures compiled by National Mortgage News and the Quarterly Data Report. NMN/QDR found that late payments on A- to D loans stood at 36% at June 30. Even though the foreclosure rate held steady when compared to the first quarter, delinquencies rose slightly. Many of the firms now reporting to the publications are subservicing firms that have taken over these delinquent assets on behalf of their owners or previous owners.
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