Today, Countrywide Financial (NYSE:CFC) released their February Operational Results showing that delinquencies and foreclosures are continuing their climb to troubling levels with delinquencies jumping over 46% to 6.91% of total number of loans and over 66% to 7.44% of total unpaid principle balance while foreclosures jumped over 61% to 1.13% of total number of loans and soaring 105% to 1.64% of total unpaid principle balance.Prior to January 2007, Countrywide reported foreclosure data as a percentage of the total number of loans serviced which obviously lacked complete clarity.
Below, are charts of both measures; delinquencies and foreclosures by total number of loans serviced and by percentage of unpaid loan principle (Click for larger versions).
Be sure to check out the Countrywide Financial Foreclosures Blog’s Inventory Tracker for some more startling evidence that foreclosures are skyrocketing over at Countrywide Financial as well as some excellent REO tracking features.
