CoreLogic reported in its National Foreclosure Report for December 2015 released Tuesday that the nationwide foreclosure inventory totaled 433 thousand in December, or 1 point 1 percent of all homes with a mortgage, which was down by almost one-quarter from December 2014 and the lowest foreclosure inventory level for any one month since December 2007.
The number of completed foreclosures in December 2015 totaled 32 thousand, down 22 percent from 41 thousand in December 2014 and down 72 point 8 percent from their peak of nearly 118 thousand reached in September 2010. Serious delinquencies were also down in December by 23 percent over-the-year; the total of 1 point 2 million serious delinquencies was the lowest total in eight years.
The Office of the Comptroller of the Currency has terminated mortgage-servicing related enforcement actions against U.S. Bank and Santander, the agency announced Tuesday. According to the OCC, the agency has levied a 10 million dollar civil penalty against U.S. Bank and a 3 point 4 million dollar civil penalty against Santander. The termination of the orders ends business restrictions that the banks were operating under since last June and completes the enforcement process that began with OCC and its Office of Thrift Supervision orders against the banks in April 2011.