Yes, it is good news.
as reported in the WSJ...
1 in 4 mortgage defaulters were speculators who lied on their mortgage app’s and had no intention of living in thier 2nd, 3rd & 4th mortgaged properties - the others were creations of Congress’s feel-good-hopes of ‘helping’ everyone live the American Dream of homeownership, even if they could not afford to pay the monthly mortgage...
None of that evil “Redlining” or deciding a particular part of a town or county was so badly deteriorated that a property wasn’t worth the paper it was written on.