Tag Archives: CoreLogic

REO sales posted the largest residential cash home sales share in November 2014 with more than 60 percent, according to CoreLogic's new cash sales data released on Wednesday.

Foreclosures in the United States have been steadily declining for months nearly every way the numbers are broken down, and December was no exception, according to CoreLogic's December 2014 National Foreclosure Report released Tuesday. Foreclosure inventory nationwide dropped in December down to 552,000 from 840,000 in December 2013, a decline of 34.3 percent. As of the end of December 2014, approximately 1.4 percent of all homes with a mortgage were in some state of foreclosure – a decline from 2.1 percent from the previous December. The current foreclosure rate of 1.4 percent is the lowest level since March 2008.

The findings align with CoreLogic's latest fraud report, which revealed application fraud risk was down across all categories—except home equity lending, which has seen risk indicators rise as demand grows.

After more than a quarter of a century spent working for Freddie Mac, Dr. Frank Nothaft has moved on to serve as SVP and chief economist at CoreLogic, the property information firm announced.

The share of all-cash home sales continued its streak of annual declines in October but remained elevated compared to pre-crisis levels, according to data released Wednesday. In a post on the company's blog site, CoreLogic estimated that cash transactions accounted for 35.5 percent of total home sales in October 2014, down from 38.7 percent the year prior.

While foreclosure activity in Florida has been generally declining for the last year, the Sunshine State has still not completely recovered from being one of the states hit hardest by the financial crisis and foreclosure wave, which peaked in 2010.

About 1.5 percent of all homes with a mortgage in the United States were in some state of foreclosure in November 2014, the lowest foreclosure rate since March 2008, according to CoreLogic's November 2014 National Foreclosure Report. Foreclosure inventory, which includes homes in any state of foreclosure, plummeted year-over-year in November, falling from 880,000 in November 2013 to 567,000 in November 2014 – a decline of 35.5 percent. November represented the 37th consecutive month in which foreclosure inventory declined year-over-year and the 26th straight month in which the nation's foreclosure inventory saw a double-digit percentage decline.

As home values rise and borrowers continue to gain equity, CoreLogic's analysis indicates that nearly 5.1 million properties are still upside-down on their mortgage. That figure represents about 10.3 percent of all residential properties with a mortgage compared to about 13.3 percent the year prior.

The pristine performance of mortgage loans in the U.S. with a vintage of 2009 or later is an indicator that underwriting standards could be loosened, according to CoreLogic senior economist Molly Boesel in an analysis entitled "What's an Acceptable Level of Mortgage Default?" published in CoreLogic's December 2014 edition of The MarketPulse.

Improvements in economic fundamentals, notably employment growth among millennials, will fuel significant increases in home sales and housing starts and a modest rise in home prices in 2015, according to CoreLogic's 2015 Housing Outlook released earlier this week. Sam Khater, deputy chief economist for CoreLogic, predicted an increase of 9 percent in home sales and a 14 percent spike in housing starts for the coming year in the report.