Lengthy foreclosure process still a drag in some markets, online tracking firm says.
RealtyTrac said initial default notices up 14% in second quarter vs. first.
Banks appear to have begun picking up the pace of foreclosures on residential real estate in August, reducing the time before the housing industry works through the overhang of troubled properties, according to RealtyTrac.
RealtyTrac seeing movement toward resolving overhang of troubled properties.
Total foreclosure filings, which includes default notices, scheduled auctions and bank repossessions rose 4% over last quarter but were still 1% lower than they were last year.
The rates of foreclosures in the country dropped in April for the first time since before the current economic downturn began, according to Realty Trac, a firm that bills itself as the "leading online marketplace of foreclosure properties."
Since the start of the decline in the economy, auto lending has been an area where credit unions have managed to see substantial growth.