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Mortgage Performance

Distressed Sales Accounted for Almost 13 Percent of Total Home Sales in December 2014

Lowest Distressed Sales Share for the Month of December Since 2007

Molly Boesel    |    Mortgage Performance

Distressed sales (REO and short sales) accounted for 12.8 percent of total home sales nationally in December 2014, a 2.8 percentage point drop from December 2013, and a 1.2 percentage point drop from November 2014. The December 2014 distressed sales share was the lowest for any December since 2007. Within the distressed category, REO sales made up 8.8 percent of total home sales in December,...

National Foreclosure Inventory Down 34 Percent Year Over Year in December 2014

Utah Experienced Largest State Improvement in Foreclosure Inventory From a Year Ago

Shu Chen    |    Mortgage Performance

Today, CoreLogic reported that the national foreclosure inventory fell by 34.3 percent year over year in December 2014 to approximately 552,000 homes, or 1.4 percent of all homes with a mortgage, down from 840,000, or 2.1 percent, in December 2013. This marks 38 months of continuous year-over-year declines in the inventory of foreclosed...

Ability-to-Leverage Drives Foreclosure Risk

Despite A Static Homeownership Rate Last Five Decades, Default Risk Exponentially Higher

Sam Khater    |    Mortgage Performance

Leverage is known to play an important role in loan default, but while theoretical research on leverage exists; to our knowledge there has been virtually no long-term data driven empirical analysis on the impact of leverage on residential foreclosure. We assembled data from various sources to fill that void and examine the role leverage plays in mortgage foreclosures over the last five...

Despite Stable Mortgage Application Fraud Levels, HELOC Fraud Risk Appears To Be Rising

Equity Unlocks Latest Trend in Mortgage Application Fraud

Xiaolin Tan    |    Mortgage Performance

By and large, across the twelve loan segments the CoreLogic Mortgage Application Fraud Index monitors, the sources and frequency of mortgage fraud have transitioned post-crisis to their current state of continued recovery. An exception is HELOC (Home Equity Line of Credit) fraud risk which has been on the rise in parallel with the growth in home equity lending levels over the past eighteen...

How Have Homeowners’ Incomes Changed Over Time?

A Homeowner Income Index Shows Some Surprising Results

Kathryn Dobbyn    |    Mortgage Performance

Income inequality and wage stagnation have garnered greater attention in the backdrop of the continuing recovery from The Great Recession. These issues been addressed by the national news media, Notably economists and politicians, and at some length here at CoreLogic. It was during the course of one of these internal discussions that questions arose regarding the nature of incomes and...

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