The rate of foreclosures hit a record high in the first quarter, a fact the Mortgage Bankers Association said is “sobering, but not unexpected.”

Foreclosure actions were initiated on 1.37 percent of first mortgages during the first quarter, while the delinquency rate jumped to a seasonally adjusted 9.12 percent, up from 7.88 percent in the fourth quarter of last year, according to the industry group.

Four states – Florida, Arizona, California and Nevada – drove up the national numbers, accounting for about 46 percent of the foreclosure starts in the U.S., and representing 56 percent of the increase in foreclosure starts, according to the MBA.

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