Foreclosure starts spiked 33% in March from the previous month, as inventory of foreclosed properties hit a record 2.2 million, according to Lender Processing Services. LPS also reported that delinquencies fell more than 11% in the month from February, and were down 20% from a year earlier. Early-stage delinquencies led the decline, with 30-day and 60-day delinquent inventories approaching pre-crisis levels.

Click here to read the release from Lender Processing Services.