While the number of foreclosures nationwide is thankfully coming down from its peak during the housing bust, there are still quite a few languishing out there. All signs do point to a strong housing recovery, with existing home sales edging up and distressed mortgages accounting for fewer of those sales, according to the National Association of Realtors. But there were still 750,000 homes in the foreclosure process as of February (albeit down from 1 million in early 2011).So who is responsible for these foreclosures? 24/7 Wall St. took a look at the 10 banks foreclosing on the most homes. They found that these banks often don't own the mortgages on the foreclosures themselves -- they are servicing them on behalf of another institution. But the banks could still stand to lose money even if they don't own the mortgages. The data used to determine the banks' rankings came from online foreclosure marketplace RealtyTrac, and the figures are current as of February. Click through the gallery below to see the 10 banks foreclosing on the most homes.
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Source: http://realestate.aol.com/blog/2013/03/13/banks-most-foreclosures/
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