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DS News Webcast: Wednesday 3/11/2015

The nation's foreclosure inventory and number of completed foreclosures continued their steady downward spiral in January, according to CoreLogic's January 2015 National Foreclosure Report released on Tuesday. Foreclosure inventory took a plunge of 33.2 percent year-over-year in January, down to $549,000 compared to $822,000 in January 2014. Foreclosure completions totaled about $43,000 in January – a decline of 22.5 percent from the same month a year earlier.

By comparison, completed foreclosures averaged about $21,000 per month nationwide from 2000 to 2006 in the years prior to the financial crisis. While January's total was still more than double that average, much progress has been made in the last three years – completed foreclosures have declined each month for the past 37 months. Completed foreclosures have totaled approximately 5.5 million nationwide since the height of the financial crisis in September 2008 and have totaled approximately 7 million since homeownership peaked in the second quarter of 2004.

The Federal Reserve Inspector General made his findings of the investigation of discrimination in the Consumer Financial Protection Bureau public Monday, stating the CFPB has made progress in combatting discrimination, but still was work to do. While the inspector general’s own review and that of an outside consulting firm found there was a “statistically significant” discrepancy in CFPB's treatment of its employees, there was no evidence of an intentional policy to target nonwhite, non-male employees, according to the report.

About Author: Jordan Funderburk

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