Tag Archives: CoreLogic

CoreLogic and the Urban Institute have formed a strategic alliance to power further economic and social policy research, the two groups announced. Through the alliance, CoreLogic's data will be used to power the research conducted by the Urban Institute's newly formed Housing Finance Policy Center.

Home prices are keeping with their trend of slow, but steady, month-to-month improvements. CoreLogic's October Home Price Index (HPI) reveals a 0.2 percent month-month rise in the national home price but a 12.5 percent year-year increase. October marked the 20th straight month of annual price gains, according to CoreLogic, which conceded in its latest report that appreciation was beginning to fall more in line with normal seasonal patterns.

It's no secret underwriting standards have tightened in recent years, and while many decry the heightened standards for making homeownership less accessible to some Americans, an economist with CoreLogic points out in a report released Wednesday that heightened standards are, without question, impacting delinquencies for the better, with 2013 vintage loans carrying a serious delinquency rate of just six basis points.

Although the CoreLogic Case-Shiller Home Price Indexes recorded a 10.1 percent year-over-year increase in national home prices in the second quarter, double-digit appreciation is not expected to continue. While the market will continue to see home prices appreciate, those gains are projected to slip to just 5.4 percent by the beginning of next year, CoreLogic reports.

Today's resilient capital market has the capacity to adapt readily to the pending Ability-to-Repay and Qualified Mortgage (QM) rules set to take effect January 10, 2014, according to a white paper issued by CoreLogic. The paper titled, ATR/QM Standards: Foundation for a Sound Housing Market, provides an overview of the rules themselves and examines their possible impact on the market.

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.