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LATEST CORELOGIC ECON TWEETS

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    |    Housing Trends

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 January since 2008. Within the distressed category, REO sales made up 9.9 percent of total home sales...

Strong Economic Growth To Propel US Housing Market in 2015

Low Rates, Job Growth will Likely Support Increases in Household Formations, Home Sales and Home Prices

Frank Nothaft    |    Housing Trends

The U.S. economy is poised to grow by close to 3 percent in 2015, generating a 3- to 3.5-million-person gain in employment. This job growth, coupled with very low mortgage interest rates and some easing in credit access, is expected to propel both owner-occupant and rental housing activity this year. This heightened level of housing demand should translate to the best home sales market in eight years, a projected rise of about 5-6 percent in the national CoreLogic Home Price Index (HPI)...

Dollar Volume of Negative Equity Increased $7 Billion from Q3 to Q4 2014

Quarter-Over-Quarter Increase Due to Seasonality

Shu Chen    |    Valuation

According to the latest CoreLogic Equity Report, released today, the nationwide negative equity share increased from 10.4 percent in Q3 2014 to 10.8 percent in Q4 2014, and the number of underwater borrowers (or those in negative equity) increased from 5.2 million to 5.4 million. The total dollar amount of negative equity was up $7 billion from Q3 2014, totaling $348.8 billion in Q4 2014.

Quarter over quarter,...

Loan servicing: The Rise of the Non-Bank Servicer

Adapting to the changing marketplace

Faith Schwartz    |    Housing Policy

Seven years removed from the collapse of the housing market, estimates for growth are optimistic; meanwhile, the “act” of originating and servicing a loan continues to evolve. The amendments to the Truth in Lending Act, Real Estate Settlement Procedures Act, addition of the Qualified Mortgage and Ability to Repay rules (QM/ATR) and loan officer compensation rules have changed the face of originations, which in turn is also having an effect on loan servicing. In particular, loan...

Cyber Security Galvanizes the 114th

Congress Makes the Most of First 12 Days in Session

Stuart Quinn    |    Housing Policy

  • The President’s budget has arrived in the 114th Congress, committee assignments are complete and the policy agenda continues to materialize with each passing week.
  • Cyber security remains the clear front-runner for actionable legislation in the new Congress as committees have conceded jurisdictional debates (for the mean time) and the dialogue to design effective national data breach legislation is underway.
  • The race against the next election cycle...
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