RealtyTrac’s U.S. Foreclosure Market Report for February shows foreclosure filings, including default notices, scheduled auctions, and bank repossessions, fell 14 percent month-over-month and 27 percent from one year ago. The year-over-year drop was the largest ever recorded by the company. James J. Saccacio, chief executive officer of RealtyTrac, said foreclosure activity dropped to a 36-month low but cautioned that the improvement may be exaggerated by processing problems and winter weather. And though Saccacio believes foreclosure activity will rise in coming months, he doesn’t believe monthly volume will return to the peaks of last March. More here and here.