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CoreLogic Econ


Mortgage Performance

Number of Loans in Foreclosure Lowest Since December 2007

Judicial States Account for Nearly Three-Quarters of Loans in Foreclosure

Molly Boesel    |    Mortgage Performance

CoreLogic reported today that the national foreclosure inventory fell by 25.7 percent year over year in March 2015 to approximately 542,000 homes, or 1.4 percent of all homes with a mortgage. This marks 41 months of consecutive year-over-year declines, as shown in Figure 1. Also in March 2015, the 12-month sum of completed...

CoreLogic and Urban Institute Seminar Explores Mortgage Servicing Issues

Current State and Future Trends

Faith Schwartz    |    Mortgage Performance

CoreLogic and the Urban Institute recently co-hosted a discussion that delved into the current issues facing loan servicing and how those issues impact multiple aspects of the residential housing finance ecosystem.

Why are we still talking about residential mortgage loan servicing

Ten years ago, it would be hard to imagine many people knowing the...

Locating Home Price Risk with the CoreLogic Home Price Index Forecasts Stress-Testing Scenarios

David Stiff    |    Mortgage Performance, Property Valuation

Bank and bank holding company stress tests rigorously assess financial institutions’ capital adequacy, including the development and maintenance of effective loss-estimation methodologies. This is mandated by the Federal Reserve’s Comprehensive Capital Analysis and Review (CCAR) and the Dodd-Frank Act. Home Price Index (HPI) supervisory scenarios are specified for the entire...

Far From Normal

Very Few Metro Areas Have REO Shares Close to Pre-Crisis Levels

Molly Boesel    |    Mortgage Performance

During the worst point of distress the housing crisis in 2009, real estate-owned (REO) sales made up 28 percent of total homes sold nationally. In some metropolitan areas, the REO share peaked at around 70 percent. As the housing market continues to heal, are we now able to say that REO sales are trending back to a more normal level? As of February 2015, the national REO sales share was 10...

February Distressed Sales Shares Resemble 2008 Levels

REO and Short Sales Accounted for 14 Percent of Homes Sold Nationally

Molly Boesel    |    Mortgage Performance

Distressed sales—real estate-owned (REO) and short sales—accounted for 13.5 percent of total home sales nationally in February 2015, a 3 percentage point drop from February 2014 and a 0.8 percentage point decrease from January 2015. Distressed sales shares typically decrease month over month in February due to seasonal factors. The February 2015 distressed sales share was the...

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