Date post: | 17-Feb-2018 |
Category: |
Documents |
Upload: | meszaros-tibor |
View: | 215 times |
Download: | 0 times |
of 12
7/23/2019 National Foreclosure Report June 2015
1/12
National Foreclosure Report
JUNE 2015
7/23/2019 National Foreclosure Report June 2015
2/12
n June, the foreclosure
nventory was down
4.1 percent from May 2015,
epresenting 44 months
of consecutive year-over-
year declines.
4.1%
The foreclosure rate for
the U.S. has dropped
to its lowest level since2007, supported by a
continuing decline in
loans made before 2009,
gains in employment, and
higher housing prices.The decline has not been
uniform geographically,
as the foreclosure rate
varies across metropolitan
areas. In the Denver andSan Francisco areas, the
foreclosure rate has fallen
to 0.3 percent, whereas in
the Tampa market the rate
is 3.5 percent and in Nassauand Suffolk counties it is an
elevated 4.8 percent.Frank Nothaft, chief economist at CoreLogi
2015 CoreLogic Proprietary and confidential. This material may not be reproduced in any form without express written permission.
7/23/2019 National Foreclosure Report June 2015
3/12
2015 CoreLogic Proprietary and confidential. This material may not be reproduced in any form without express written permission. JUNE 2015
National Overview through June 2015
There Were 43,000 Completed Foreclosures Nationally, Down From 50,000 in June 2014
Seriously Delinquent Rate Is at 3.5 Percent Lowest Level Since January 2008
Approximately 472,000 homes in the United States were in some stage of foreclosure
Compared to 664,000 in June 2014
Completed Foreclosures
43K 14.8% 4.8%in June 2015 Decline Year Over Year Compared to May 2015
A CoreLogic analysis shows 43,000 foreclosures were completed in June 2015, a 14.8 percent year-over-year
decline from 50,000* in June 2014. By comparison, before the decline in the housing market in 2007, completed
foreclosures averaged 21,000 per month nationwide between 2000 and 2006. On a month-over-month* basis,
completed foreclosures were up by 4.8 percent. Completed foreclosures are an indication of the total number of
homes actually lost to foreclosure.
* June 2014 data was revised. Revisions with public records are standard and to ensure accuracy, CoreLogic incorporates newly released data to
provide updated results.
7/23/2019 National Foreclosure Report June 2015
4/12
National Foreclosure Inventory
28.9% 1.2%Compared to June 2014 Of All Homes with a Mortgage
Approximately 472,000 homes in the United States were in some
stage of foreclosure as of June 2015, compared to 664,000 in June*
2014, a decrease of 28.9 percent. This was the 44th consecutive
month with a year-over-year decline. As of June 2015, the foreclosure
inventory represented 1.2 percent of all homes with a mortgage,
compared to 1.7 percent in June 2014.
* June 2014 data was revised. Revisions with public records are standard and to ensure accuracy, CoreLogic
incorporates newly released data to provide updated results.
Serious delinquency is at the lowest level in seven and a half years
reflecting the benefits of slow but steady improvements in the
economy and rising home prices. We are also seeing the positive
impact of more stringent underwriting criteria for loans originated
since 2009 which has helped to lower the national seriously
delinquent rate.
Anand Nallathambi,president and CEO of CoreLogic
THE FORECLOSURE
RATE, CURRENTLY AT
2 PERCENT, IS BACK TO
ANUARY 2008 LEVEL.
2015 CoreLogic Proprietary and confidential. This material may not be reproduced in any form without express written permission.
7/23/2019 National Foreclosure Report June 2015
5/12
Time Series National Overview
JUL-
14
AUG-
14
SEP-
14
OCT-
14
NOV-
14
DEC-
14
JAN-
15
FEB-
15
MAR-
15
APR-
15
MAY-
15
JUN-
15
Serious
Delinquency*1,682 1,664 1,640 1,597 1,595 1,571 1,550 1,508 1,428 1,392 1,361 1,314
-MOM %
Chg in #-1.8% -1.1% -1.5% -2.6% -0.1% -1.5% -1.3% -2.7% -5.3% -2.5% -2.2% -3.4%
-YOY %
Chg in #-25.7% -23.8% -23.8% -24.3% -23.6% -23.7% -23.2% -20.6% -21.9% -21.7% -21.7% -23.3%
Foreclosure
Inventory*650 629 621 589 573 568 562 550 534 507 492 472
-MOM %
Chg in #-2.2% -3.2% -1.3% -5.1% -2.8% -0.8% -1.1% -2.1% -2.9% -5.1% -2.9% -4.1%
-YOY %
Chg in #-36.0% -35.6% -34.7% -34.7% -37.0% -34.7% -31.7% -27.8% -26.9% -27.1% -27.2% -28.9%
Completed
Foreclosures*50 45 66 50 40 39 43 35 37 37 41 43
-MOM %
Chg in #-1.7% -8.8% 46.7% -24.7% -20.2% -2.0% 9.9% -19.2% 7.0% -1.6% 12.2% 4.8%
-YOY %
Chg in #-14.8% -23.6% -4.8% -12.5% -15.4% -15.8% -23.1% -25.4% -23.6% -27.1% -19.6% -14.8%
-12-Month
Sum*633 619 615 608 601 593 581 569 557 544 534 526
*Thousands of Units
THE FORECLOSURE INVENTORY RECORDED 44 STRAIGHT MONTHS OF DECLINES
3.5%THE NUMBER
OF MORTGAGES
IN SERIOUS
DELINQUENCY IS
AT 3.5 PERCENT IN
JUNE 2015
2015 CoreLogic Proprietary and confidential. This material may not be reproduced in any form without express written permission. JUNE 2015
7/23/2019 National Foreclosure Report June 2015
6/12
Twelve states
Show declines of more than
30 percent in year-over-
year foreclosure inventory,
with Florida (47.7%) and
Connecticut (36.9%)
experiencing the greatest year-
over-year declines
states have an inventory of
foreclosed homes lower than
the national rate
31
Foreclosure Inventory by State
1.1%
1.4%
0.5%
1.9%
0.4%
0.4%2.1%
0.4%
0.5%
0.4% 0.4%
0.5%
0.4%
0.8%
1.4%
0.6%1.1%
0.9%
0.6%
0.9%
0.4%
0.7%
1.6%
0.5%
1.2%1.3%
1.2%
0.5%
0.9% 0.7% 0.7%
2.7%
1.3%
0.7%
0.5%0.7%
1.6%
3.7%
2.2%
1.4%
0.3%
0.7%
1.1%
1.4%
0.5%
1.9%
0.4%
0.4%2.1%
0.4%
0.5%
0.4% 0.4%
0.5%
0.4%
0.8%
1.4%
0.6%
4.7%
1.1%
0.9%
0.6%
0.9%
0.4%
0.7%
1.6%
0.5%
1.2%1.3%
1.2%
0.5%
0.9% 0.7% 0.7%
2.7%
1.3%
0.7%
0.5%0.7%
1.6%
3.7%
2.2%
1.4%
0.3%
2.5%
1.3%
2.4%
1.7%1.9%
4.7%
1.7%1.4%
0.7%0.7%
0.3%
As of June 2015
Source: CoreLogic Market Trends
Four states and the District of Columbia with the highest
foreclosure inventory as a percentage of mortgaged homes
2.4%
2.5%
2.7%
3.7%
4.7%
D.C.
Hawaii
Florida
New York
New Jersey
Five states with the lowest foreclosure inventory
as a percentage of mortgaged homes
0.4%
0.4%
0.4%
0.4%
0.3%
Montana
North Dakota
Nebraska
Minnesota
Alaska
2015 CoreLogic Proprietary and confidential. This material may not be reproduced in any form without express written permission.
7/23/2019 National Foreclosure Report June 2015
7/12
Forty-five states posted
a year-over-year,
double-digit decline in
foreclosures. Two states
Wyoming (+4.1 percent)
Massachusetts
(+17.8 percent), and the
District of Columbia
(+18.1 percent)
experienced increases.
State Highlights
Percent of Homes in Foreclosure
0% 1% 2% 3% 4% 5% 6% 7%
NJ
NY
FL
HI
DC
ME
NM
NV
DE
CT
MD
PA
IL
OK
OR
MA
RI
OH
VT
SC
IN
KY
LA
WA
MS
AR
IA
KS
NC
ID
WV
AL
WI
NH
GA
TX
MO
SD
WY
TN
VA
MI
CA
UT
AZ
COMT
ND
NE
MN
AK
iil
i
il
Source: CoreLogic June 2015
Judicial
Non-Judicial
102,0
00
46,000
33,000
29,000
27,000
FL MI TX CA OH
32
107
313
499
56
6
SD DC ND WY WV
Four states and the District of
Columbia, with the lowest number
of completed foreclosures during
past 12 months
Five states with the highest number
of completed foreclosures during
past 12 months
These five states
account for
almost half ofall completed
foreclosures
nationally.
2015 CoreLogic Proprietary and confidential. This material may not be reproduced in any form without express written permission. JUNE 2015
7/23/2019 National Foreclosure Report June 2015
8/12
JUDICIAL STATES
FORECLOSURE
INVENTORY
FORECLOSURE
INVENTORY
PCT. POINT
CHANGE FROM
A YEAR AGO
COMPLETED
FORECLOSURES
(12 MONTHS
ENDING
JUNE 2015)
SERIOUS
DELINQUENCY
RATE
Florida 2.7% -2.3% 101,938 6.3%
Ohio 1.3% -0.4% 27,295 3.8%
Pennsylvania 1.6% -0.4% 20,003 4.3%
Illinois 1.6% -0.8% 14,220 4.3%
Indiana 1.2% -0.4% 13,718 3.5%
New York 3.7% -0.7% 9,981 6.7%
New Jersey 4.7% -1.1% 9,947 8.3%
Maryland 1.7% -0.8% 9,119 5.0%
Louisiana 1.1% -0.3% 8,429 4.1%
Oklahoma 1.4% -0.2% 7,704 3.6%
South Carolina 1.3% -0.4% 7,166 3.4%
Wisconsin 0.7% -0.2% 5,986 2.1%
Oregon 1.4% -0.6% 5,657 3.2%
Connecticut 1.7% -1.0% 5,226 4.9%
Kentucky 1.2% -0.3% 3,381 3.4%
Kansas 0.8% -0.1% 2,594 2.8%
New Mexico 2.1% -0.1% 1,543 4.0%
Delaware 1.9% -0.3% 1,388 4.6%
Maine 2.2% -0.6% 809 5.1%
Hawaii 2.5% -0.6% 758 4.1%
North Dakota 0.4% -0.1% 313 0.9%
Vermont 1.3% -0.4% . 3.0%
North Dakota 0.5% 0.0% 326 0.9%
South Dakota 0.6% 0.0% 1.7%
Vermont 1.4% -0.4% 3.2%
Source: CoreLogic June 2015
State Foreclosure DataJudicial States
2015 CoreLogic Proprietary and confidential. This material may not be reproduced in any form without express written permission.
National
oreclosure Inventory: 1.3%
oreclosure Inventory
ct. Point Change from
Year Ago: 0.5%
ompleted Foreclosures
2 months ending
une 2015): 526,189
erious Delinquency: 3.5%
ecline in
eriously Delinquent
ortgages: 0.9% YOY
7/23/2019 National Foreclosure Report June 2015
9/12
NON-JUDICIAL
STATES
FORECLOSURE
INVENTORY
FORECLOSURE
INVENTORY
PCT. POINT
CHANGE FROM
A YEAR AGO
COMPLETED
FORECLOSURES
(12 MONTHS
ENDING
JUNE 2015)
SERIOUS
DELINQUENCY
RATE
Michigan 0.5% -0.3% 46,451 2.5%
Texas 0.6% -0.2% 33,020 2.6%
California 0.5% -0.2% 28,610 1.7%
Georgia 0.7% -0.3% 26,909 3.4%
North Carolina 0.7% -0.2% 18,258 2.9%
Tennessee 0.5% -0.2% 13,469 3.4%
Washington 1.1% -0.5% 12,082 2.7%
Arizona 0.4% -0.1% 12,026 1.7%
Missouri 0.6% -0.1% 11,938 2.6%
Virginia 0.5% -0.2% 11,771 2.3%
Alabama 0.7% -0.1% 8,932 3.9%
Nevada 1.9% -0.4% 7,046 4.6%
Minnesota 0.4% -0.1% 6,204 1.8%
Colorado 0.4% -0.2% 5,029 1.4%
Arkansas 0.9% -0.1% 4,653 3.9%
Iowa 0.9% -0.2% 4,210 2.2%
Massachusetts 1.4% 0.2% 4,117 3.7%
Idaho 0.7% -0.4% 3,062 2.0%
Utah 0.4% -0.2% 2,927 1.8%
New Hampshire 0.7% -0.1% 1,651 2.5%
Rhode Island 1.4% -0.5% 1,586 4.9%
Nebraska 0.4% 0.0% 1,345 1.7%
Mississippi 0.9% -0.2% 966 4.9%
Montana 0.4% -0.2% 825 1.4%
Alaska 0.3% -0.1% 723 1.3%
West Virginia 0.7% -0.1% 566 2.8%
Wyoming 0.5% 0.0% 499 1.7%
District of Columbia 2.4% 0.4% 107 3.9%
South Dakota 0.5% 0.0% 32 1.5%
Source: CoreLogic June 2015
State Foreclosure DataNon-Judicial States
2015 CoreLogic Proprietary and confidential. This material may not be reproduced in any form without express written permission. JUNE 2015
National
Foreclosure Inventory: 1
Foreclosure Inventory
Pct. Point Change from
a Year Ago: 0
Completed Foreclosures
(12 months ending
June 2015): 526
Serious Delinquency: 3
Decline in
Seriously Delinquent
Mortgages: 0.9% Y
7/23/2019 National Foreclosure Report June 2015
10/12
METROPOLITAN AREAFORECLOSURE
INVENTORY
FORECLOSURE
INVENTORY PCT.
POINT CHANGE
FROM A YEAR AGO
COMPLETED
FORECLOSURES
(12 MONTHS
ENDINGJUNE 2015)
SERIOUS
DELINQUENCY
RATE
Tampa-St. Petersburg-Clearwater, FL 3.5% -2.5% 16,750 7.2%
Atlanta-Sandy Springs-Roswell, GA 0.7% -0.3% 14,524 3.3%
Orlando-Kissimmee-Sanford, FL 2.5% -2.4% 12,970 5.9%
Houston-The Woodlands-Sugar Land, TX 0.6% -0.2% 7,304 2.5%
Phoenix-Mesa-Scottsdale, AZ 0.4% -0.1% 7,114 1.5%
Chicago-Naperville-Arlington Heights, IL 1.8% -0.9% 6,316 4.9%
Riverside-San Bernardino-Ontario, CA 0.7% -0.3% 6,070 2.6%
Dallas-Plano-Irving, TX 0.6% -0.2% 5,445 2.5%
St. Louis, MO-IL 0.7% -0.1% 5,332 2.9%
New York-Jersey City-White Plains, NY-NJ 3.8% -0.9% 5,162 6.6%
Baltimore-Columbia-Towson, MD 1.7% -0.8% 4,895 5.1%
Los Angeles-Long Beach-Glendale, CA 0.5% -0.2% 4,834 2.0%
Minneapolis-St. Paul-Bloomington, MN-WI 0.4% -0.1% 4,754 1.8%
Charlotte-Concord-Gastonia, NC-SC 0.8% -0.3% 4,476 2.9%
Warren-Troy-Farmington Hills, MI 0.3% -0.2% 3,960 1.9%
Source: CoreLogic June 2015
Metropolitan Area HighlightsForeclosure Data for the Largest Core Based Statistical Areas (CBSAs)
2015 CoreLogic Proprietary and confidential. This material may not be reproduced in any form without express written permission.
7/23/2019 National Foreclosure Report June 2015
11/12
2015 CoreLogic Proprietary and confidential. This material may not be reproduced in any form without express written permission. JUNE 2015
National Foreclosure Report Methodology
The data in this report represents foreclosure activity reported through June 2015.
This report separates state data into judicial versus non-judicial foreclosure state categories. In judicial foreclosure states, lenders must provide
evidence to the courts of delinquency in order to move a borrower into foreclosure. In non-judicial foreclosure states, lenders can issue noticesof default directly to the borrower without court intervention. This is an important distinction since judicial states, as a rule, have longer
foreclosure timelines, thus affecting foreclosure statistics.
A completed foreclosure occurs when a property is auctioned and results in the purchase of the home at auction by either a third party, such
as an investor, or by the lender. If the home is purchased by the lender, it is moved into the lenders real estate-owned (REO) inventory. In
foreclosure by advertisement states, a redemption period begins after the auction and runs for a statutory period, e.g., six months. During
that period, the borrower may regain the foreclosed home by paying all amounts due as calculated under the statute. For purposes of this
Foreclosure Report, because so few homes are actually redeemed following an auction, it is assumed that the foreclosure process ends in
foreclosure by advertisement states at the completion of the auction.
The foreclosure inventory represents the number and share of mortgaged homes that have been placed into the process of foreclosure by
the mortgage servicer. Mortgage servicers start the foreclosure process when the mortgage reaches a specific level of serious delinquency
as dictated by the investor for the mortgage loan. Once a foreclosure is started, and absent the borrower paying all amounts necessary to
halt the foreclosure, the home remains in foreclosure until the completed foreclosure results in the sale to a third party at auction or the home
enters the lenders REO inventory. The data in this report accounts for only first liens against a property and does not include secondary liens.
The foreclosure inventory is measured only against homes that have an outstanding mortgage. Generally, homes with no mortgage liens are notsubject to foreclosure and are, therefore, excluded from the analysis. Approximately one-third of homes nationally are owned outright and do
not have a mortgage. CoreLogic has approximately 85 percent coverage of U.S. foreclosure data.
SOURCE: CORELOGIC
The data provided is for use only by the primary recipient or the primary recipients publication or broadcast. This data may not be re-sold,
republished or licensed to any other source, including publications and sources owned by the primary recipients parent company without prior
written permission from CoreLogic. Any CoreLogic data used for publication or broadcast, in whole or in part, must be sourced as coming from
CoreLogic, a data and analytics company. For use with broadcast or web content, the citation must directly accompany first reference of the
data. If the data is illustrated with maps, charts, graphs or other visual elements, the CoreLogic logo must be included on screen or website.
Data provided may not be modified without the prior written permission of CoreLogic. Do not use the data in any unlawful manner. This data is
compiled from public records, contributory databases and proprietary analytics, and its accuracy is dependent upon these sources.
ABOUT CORELOGIC
CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled services provider. The companys combined
data from public, contributory and proprietary sources includes over 3.5 billion records spanning more than 40 years, providing detailedcoverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance
information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector.
CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on
CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif.,
CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.
CORELOGIC, the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries.
CONTACT
For more information, please email [email protected].
http://www.corelogic.com/http://www.corelogic.com/mailto:bvisini%40corelogic.com?subject=mailto:bvisini%40corelogic.com?subject=mailto:bvisini%40corelogic.com?subject=http://www.corelogic.com/7/23/2019 National Foreclosure Report June 2015
12/12
corelogic.com
2015 CoreLogic, Inc. All rights reserved.
CORELOGIC and the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries.
All other trademarks are the property of their respective holders.
17-NFR-JUN15-0815-00
For an expanded perspective on housing
economies and property markets, visit the
CoreLogic Insights Blogand follow us on:
CoreLogic CoreLogic Econ
http://www.corelogic.com/blog/default.aspxhttps://twitter.com/corelogicinchttps://twitter.com/corelogiceconhttp://www.corelogic.com/blog/default.aspxhttps://plus.google.com/114618839782139347829/postshttp://www.facebook.com/CoreLogichttp://www.linkedin.com/company/corelogic