The number of foreclosures on Long Island has sharply dropped since the last quarter of 2010. In late 2010, banks and other mortgage servicers were criticized for failure in accurate recordkeeping, cutting corners and possible fraud in foreclosure process and had to suspend foreclosures. In response, New York State launched a new investigation process on foreclosures in early 2011. Meanwhile, Long Island has witnessed a dramatic drop in the share of foreclosure sales of all home sales, which went from 10% in the third quarter in 2010 to 1% the same time one year later. Lis pendens, the first step of the year-long foreclosure process, also demonstrated the trend, decreasing by nearly two thirds in the same period.