Geithner Sees “Economic Improvement” As Mortgage Delinquencies Hit All Time High

Even as Mr. Geithner, in prepared congressional testimony, claims that the economy is "recovering", the MBA announced yet another record number of mortgage delinquencies. At over 14%, the number of American homeowners either in delinquency or in foreclosure was an all-time record in September, representing a ninth straight quarterly increase.

Geithner said he expected continued economic improvement for the rest of 2009 and a reversal in job losses the following year.. referring to the mortgage finance giants taken over by the.

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