Tag Archives: CoreLogic

CoreLogic Credco's Instant Merge credit reports are now available on D H Mortgagebot's EnterpriseLOS platform, CoreLogic announced. Instant Merge provides creditors with information such as demographic specifics and detailed creditor contact info.

Overall residential shadow inventory, as of July 2013, was 1.9 million homes, according to CoreLogic. That's the lowest shadow inventory tally reported since August 2008. The industry's current shadow inventory carries a value of $293 billion, down from $380 billion in July 2012. It represents 3.7 months' of supply and accounts for 85 percent of the 2.2 million properties that were seriously delinquent, in foreclosure, or bank-owned at July month-end.

CoreLogic reported 2.5 million homes returned to positive equity in Q2 2013, leaving 7.1 million underwater. Of the 41.5 million residential properties with positive equity, an estimated 10.3 million are ""under-equitied,"" meaning they have less than 20 percent equity. Because of that, those borrowers may have a more difficult time obtaining new financing for their home due to underwriting constraints. Meanwhile, 1.7 million properties had less than 5 percent equity, qualifying them as ""near-negative equity.""

CoreLogic reported a 12.4 percent annual increase in its Home Price Index (HPI) in July. The yearly gain (which includes distressed sales) represents the 17th consecutive monthly year-over-year improvement. Including distressed sales, the five states with the highest home price appreciation were Nevada (27 percent), California (23.2 percent), Arizona (17 percent), Wyoming (16.4 percent), and Oregon (15 percent). Only one state reported a yearly decline: Delaware (-1.3 percent).

As the housing market heals, foreclosure inventory is depleting quickly, CoreLogic reported Thursday. In July, about 949,000 homes were in some stage of foreclosure, down 32 percent from 1.4 million a year ago. CoreLogic also reported steep declines in completed foreclosures and serious delinquencies. According to the data provider's estimate, about 49,000 properties were lost to foreclosure in July, down 25 percent from 65,000 in July 2012. At 5.4 percent, the serious delinquency rate decreased to the lowest level since December 2008, according to CoreLogic.

Homeowners whose homes are located in designated flood zones are required to purchase flood insurance, and others in areas where natural disasters are common may also be required to insure against those risks. However, CoreLogic economists recently asked if that is enough to guard against these risks. In particular, they asked, are homeowners more likely to default when natural disaster strikes? The answer, in short, is ""yes.""

Double-digit annual increases continued in June as home prices surged 11.9 percent, CoreLogic reported Tuesday. The increase marks the 16th consecutive month of annual home price appreciation. From May to June, prices grew 1.9 percent. Even with the significant annual gains, home prices are still 19 percent below their April 2006 peak, the data provider revealed.

The CoreLogic Case-Shiller Home Price Indexes experienced a double-digit national price gain in Q1, a first since the housing bubble took place seven years ago. Prices increased an average of 10.2 percent from the first quarter of last year to the first quarter of this year across the 380 metro markets tracked. However, David Stiff, chief economist for CoreLogic Case-Shiller, does predict a slow-down in appreciation over the next year. From the first quarter of this year to the first quarter of next, the Case-Shiller Indexes predict a 6.5 percent price gain.

Completed foreclosures and distressed inventory continued their downfall in June, CoreLogic reported Tuesday. Data for last month showed 55,000 homes were lost to foreclosure, down 20 percent from June 2012. The level of foreclosure inventory also came down in June. According to CoreLogic's estimate, about 1 million homes were in some stage of foreclosure, which represents a 28 percent annual decrease. The yearly decline marks the 20th consecutive month inventory has trended down.

CoreLogic, a provider of property information, analytics and services, announced the acquisition of Bank of America's flood zone determination and tax processing services assets and operating platforms. The Irvine, California-based company also announced it has entered into a services agreement to continue to provide the related services to Bank of America.