Foreclosures a worry in NY state

The number of home mortgages in foreclosure in upstate New York continues to be a concern, notes a report from the New York Federal Reserve.

The report also shows that examination of the loan characteristics of these mortgages uncovers striking similarities in underwriting characteristics among subprime mortgages across the entire region. Even for loans disaggregated by their foreclosure status, the pattern is consistent across the region.

The report finds that certain loan characteristics

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