Tag Archives: CoreLogic

CoreLogic announced the CoreLogic Bond Tracker is now available. The bond tracker is a bond assessment service for non-agency residential mortgage-backed securities (RMBS).

As home prices increase, more borrowers are rising out of negative equity. Recent data from CoreLogic revealed about 100,000 borrowers moved out of negative equity during the third quarter of 2012, bringing the total number of homeowners who transitioned from negative to positive territory in 2012 to 1.4 million so far.

REO sales no longer play the dominant role they once did in real estate transactions. The recent decline in REO sales, along with the decrease in inventory, is helping the market see an improvement in prices, according to a report from Corelogic. REO sales showed a 35 percent year-over-year decline in October 2012 and a 60 percent decrease from the April 2009 peak, CoreLogic revealed. Meanwhile, overall home sales increased 6 percent in 2012 to 4.2 million, with non-distressed sales seeing an 11 percent increase, CoreLogic reported.

Natural disasters have broad impacts on communities and economies, starting with physical damage and trickling down to businesses and investors. Each year, CoreLogic releases a Natural Hazard Risk Summary and Analysis, reviewing the most significant natural disasters of the year. Destruction from Hurricane Sandy could cost as much as $50 billion, and in just the state of New Jersey, an estimated 72,000 homes were damaged, according to CoreLogic.

Fewer homes were added to foreclosure inventory in November as short sales become a more common tool to prevent foreclosure, CoreLogic reported Thursday. Data from CoreLogic revealed 55,000 homes were lost to foreclosure in November. The figure represents a 23 percent decrease from November 2011 and a 6 percent decrease from October’s upwardly revised 59,000. Although foreclosure inventory is shrinking, the number of completed foreclosures is still high compared to pre-crises levels.

Rental income of residential properties, which CoreLogic defines as ""gross rents for homeowners and renters minus the associated cost of financing and other expenses,"" rose 12 percent from September last year. Furthermore, ""[t]his growth shows no signs of slowing down,"" according to CoreLogic. The data provider attributes the 12 percent growth to ""fundamental shifts in the housing market, driven by a large increase in affordability and rising rents.""

After remaining relatively flat for about a year, mortgage fraud is on the rise again, according to CoreLogic. All categories of mortgage fraud increased year-over-year in the first quarter of 2012, with employment fraud taking the lead with a 50 percent increase. CoreLogic attributes this rise to continued high levels of unemployment across the nation combined with low mortgage rates, incentivizing homeowners to misrepresent their employment status on loan applications. In an environment of increasing distressed sales, CoreLogic also sees heightened risk for short sale fraud.

Compared to 2011, home prices continued to show strong gains in October and posted their biggest yearly increase since June 2006, according to data from CoreLogic. Home prices--including distressed sale--climbed 6.3 percent higher year-over-year in October, marking the eighth consecutive month of yearly gains. With the conclusion of the home-buying season, home prices dropped by 0.2 percent from September to October. According to the data provider's pending home price index, prices should further increase yearly by 7.1 percent in November.

There were 58,000 foreclosures completed in the United States during the month of October, CoreLogic reported Monday with the release of its latest National Foreclosure Report. October's tally was down 17 percent from last year when 70,000 foreclosures were completed during the month. On a month-over-month basis, completed foreclosures fell 25 percent after September's count was revised upward from the previously reported 57,000 to 77,000. CoreLogic says the larger-than-usual revision was due to an annual online auction of delinquent tax properties in Wayne County, Michigan, that weren't included in the earlier assessment.

Demand in the single-family rental market continues to expand even as inventory tightens, according to the latest MarketPulse report from CoreLogic. Comparing lease rates, supply, pricing, and the ratio between bid prices and asking prices clearly demonstrates an increasingly tightening market. Currently, the greatest amount of growth is occurring in North Port, Florida; Cape Coral, Florida; and Honolulu.