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Mortgage Performance

National Foreclosure Inventory Down 27 Percent Year Over Year in February

Florida Experiences Largest Year-Over-Year State Improvement

Molly Boesel    |    Mortgage Performance

Today CoreLogic reported that the national foreclosure inventory fell by 27.3 percent year over year in February 2015 to approximately 553,000 homes, or 1.4 percent of all homes with a mortgage, down from 761,000, or 1.9 percent, in February 2014. This marks 40...

When First Doesn’t Really Mean First

When Third-Party Tax Lenders Jump to the Head of the Line

Mark Liu    |    Mortgage Performance, Property Valuation

In the event that a homeowner defaults on his or her mortgage loan and the home is to be sold, who would be first in line to receive funds? The obvious answer seems to be the first-lien mortgage holder, right? Well, think again. In some states like Texas and Nevada, others may legally be able to jump to the front of the line in the foreclosure process, bumping even first-lien mortgage...

A Closer Look at Equity

Principles of Principal Reduction

Stuart Quinn    |    Housing Policy, Mortgage Performance

There has long been reluctance in establishing large scale principal reduction programs with robust government participation. As recently as February 2015, Federal Housing and Finance Agency (FHFA) director Mel Watt alluded to the agency’s continued analysis to determine the cost-benefit of implementing a targeted principal reduction campaign as an appropriate supplemental...

Distressed Sales Accounted for 14 Percent of Total Home Sales in January 2015

The Distressed Sales Share Has Fallen on a Year-Over-Year Basis Every Month Since July 2011

Molly Boesel    |    Mortgage Performance

Distressed sales (REO and short sales) accounted for 14 percent of total home sales nationally in January 2015, a 3.1 percentage point drop from January 2014 and a 0.8 percentage point increase from December 2014. Distressed sales shares are typically higher in January than they are in December due to seasonal factors. The January 2015 distressed sales share was the lowest for any month of...

National Foreclosure Inventory Down 33 Percent From January 2014

Maine Sees Largest Year-Over-Year State Improvement in Foreclosure Inventory

Shu Chen    |    Mortgage Performance

Today, CoreLogic reported that the national foreclosure inventory fell by 33.2 percent year over year in January 2015 to approximately 549,000 homes, or 1.4 percent of all homes with a mortgage, down from 822,000, or 2.0 percent, in January 2014. This marks 39 months of continuous year-over-year declines in the foreclosure...

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