The Mortgage Bankers Association have just reported first quarter foreclosures data. Their numbers make grim reading. Foreclosures are now at record levels. The rate of loans entering the foreclosure process was 0.58 percent on a seasonally adjusted basis, or more than one out of 200 loans. The delinquency rate for mortgage loans on one- to four-unit residential properties stands at just below 5 percent of all loans outstanding in the first quarter.