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LATEST CORELOGIC ECON TWEETS

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...

Cash Sales Made Up 39 Percent of All Home Sales in January 2015

Share Fell by 2.6 Percentage Points Year Over Year

Molly Boesel    |    Housing Trends

Cash sales made up 38.9 percent of total home sales in January 2015, down from 41.4 percent in January 2014.  The year-over-year share has fallen each month since January 2013, making January 2015 the 25th consecutive month of declines. Month over month, the cash sales share increased by 3.2 percentage points, which is typical in the month of January. Due to seasonality in the housing...

February 2015 National Home Prices Increased 5.6 Percent from a Year Ago

Colorado Had the Highest Year-Over-Year Appreciation in February

Shu Chen    |    Property Valuation

CoreLogic reported today that February 2015 national home prices increased by 5.6 percent year over year and increased by 1.1 percent month over month. This marks 36 months of consecutive year-over-year increases in the CoreLogic Home Price Index (HPI). Excluding distressed sales, home prices increased 5.8 percent year over year from February 2014 and were up 1.5 percent from January 2015....

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...

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