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Tag Archives: CoreLogic

CoreLogic: 1.7M Homes Moved into Positive Territory in 2012

In the fourth quarter of 2012, about 200,000 residential properties transitioned out of a state of negative equity, bringing the 2012 yearly total to 1.7 million properties, CoreLogic reported. According to the data provider, there were still 10.4 million homeowners who were underwater as of the end of Q4; the figure represents 21.5 percent of all residential properties with a mortgage. Out of the 10.4 million properties, 1.8 million have a loan-to-value (LTV) ratio between 100 and 105 percent. Thus, these properties need prices to rise by 5 percent to transfer into positive territory.

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Report: Impact of Investors on REO Inventory Uneven Across Markets

REO inventory declined at an accelerated pace in 2012 as investor activity intensified, but the impact of the reduction has been uneven across markets, according to an analysis from CoreLogic. In the data provider's March MarketPulse report, economist Sam Khater explained markets in the Midwest and Northeast are still struggling with REO inventory, while the South and Southwest are seeing ""massive"" declines. The decline suggests an increase in investment activity from both individual and institutional investors, with different contributions from the investor types.

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CoreLogic: Prices Up 9.7%; Market Poised for Strong Spring Season

Unhindered by winter weather, the home price recovery pressed on in January as CoreLogic's home price index (HPI) rose nearly 10 percent year-over-year. When including distressed sales, January prices were up 9.7 percent from a year ago, representing the biggest increase since April 2006, CoreLogic reported Tuesday. From December 2012 to January 2013, prices managed to show positive growth and inched up by 0.7 percent. ""With these gains, the housing market is poised to enter the spring selling season on sound footing,"" said Mark Fleming, chief economist for CoreLogic.

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Foreclosure Inventory Shrinks 21% from Year Ago

While still at an elevated level, foreclosure inventory is fading and has fallen for 15 straight months as of January 2013, CoreLogic reported Thursday. According to the data provider's foreclosure inventory report, the number of homes in some stage of the foreclosure process is now down to 1.2 million as of January. Year-over-year, foreclosure inventory has fallen 21 percent from 1.5 million. The number of homes lost to the foreclosure process also declined from a year ago, but increased on a monthly basis.

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Former HOPE NOW Director Named SVP at CoreLogic

CoreLogic appointed Faith Schwartz, former executive director of the HOPE NOW Alliance, to serve as SVP of government solutions. In her new role, Schwartz oversees CoreLogic business relationships and execution with federal regulatory agencies and government-sponsored enterprises (GSEs).

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Risk of Default for Renters Down from Year Ago, Up Quarterly

Renters across the country are less likely to default compared to a year ago, but the risk of not fulfilling lease obligations has increased on a quarterly basis, according to CoreLogic’s SafeRent Renter Applicant Risk (RAR) index report. With an index value above 100 indicating less risk, CoreLogic's national index stood at 103 in the Q4 2012, up from 101 in Q4 2011, but down from 106 in Q3 2012.

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CoreLogic: QM, QRM Rules Remove 60% of Loans and 90% of the Risk

About 60 percent of loans written today would not be acceptable under the finalized rules for a qualified mortgage (QM) and the anticipated rules for a qualified residential mortgage (QRM), according to new research from CoreLogic. CoreLogic analyzed 2.2 million loans written in 2010 to determine what percentage of them meets QM and QRM guidelines. But, CoreLogic still concluded that ""[w]hile QM and QRM remove 60 percent of loans, they remove 90 percent of the risk.""

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CoreLogic: Prices End 2012 with Biggest Annual Gain in Six Years

National home prices ended the year by posting their biggest annual gain since May 2006, and prices rose in December for the 10th consecutive month, CoreLogic reported Tuesday. The data provider's Home Price Index (HPI) registered a year-over-year increase of 8.3 percent in December when including distressed sales. From November to December, prices barely moved higher, increasing just 0.4 percent.

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Report: Foreclosure Inventory Down Nearly 20% from Year Ago

In December, the number of homes in some stage of the foreclosure process continued to shrink, and fewer homes were lost to foreclosure, according to the National Foreclosure Report from Corelogic. Foreclosure inventory saw a 19.5 percent decrease from a year ago as foreclosure inventory was reduced to 1.2 million homes, down from 1.5 million in December 2011. The number of mortgages in some stage of the foreclosure process was also down month-over-month, decreasing by about 4.2 percent from November. Completed foreclosures also fell on a yearly and monthly basis by 21 percent and 3 percent, respectively.

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