The report gathers mortgage data from the five largest thrifts – as measured by mortgage servicing portfolios - including Countrywide, Washington Mutual, Merrill Lynch, Wachovia and IndyMac.  (IndyMac is apparently working with IndyMac to “shore up” the struggling bank’s future. See IndyMac the Next Bank Failure?)

The data shows that new foreclosures have increased from 35,780 in January to 46,249 in March.

Dow Jones reports that…

“The agency found that the number of current and performing loans in the five servicers’ portfolios remained stable around 92% during the first quarter, though the number of foreclosures in process did climb to 1.73% from 1.49%. The highest level of delinquencies were concentrated in loans that were between 30 and 59 days past due, while the number of loans that were at least 90 days delinquent remained constant at 1.74% of the portfolio.”