CALABASAS, Calif. – Countrywide Financial, the nation’s largest mortgage lender, reported yesterday that foreclosures in its portfolio soared to 0.83%of the total dollar figure of loans in March, almost double from a year ago, as market conditions continued to deteriorate. Foreclosures are rising as housing price appreciation slows and lenders tighten their underwriting standards, according to the Mortgage Bankers Association. The MBA reported that last month the foreclosure rate for the nation rose to 0.54% in the fourth quarter of 2006, the highest since it has measured in 37 years of surveys.
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