CoreLogic Reports 61,000 Completed Foreclosures in January

The Foreclosure Inventory Has Fallen Year Over Year for 15 Consecutive Months

IRVINE, Calif., - CoreLogic® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released its National Foreclosure Report, which provides data on completed U.S. foreclosures and the overall foreclosure inventory. According to CoreLogic, there were 61,000 completed foreclosures in the U.S. in January 2013, down from 75,000 in January 2012, a year-over-year decrease of 17.8 percent. On a month-over-month basis, completed foreclosures rose from 56,000* in December 2012 to the January level of 61,000, an increase of 10.5 percent. As a basis of comparison, prior to the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month between 2000 and 2006. Completed foreclosures are an indication of the total number of homes actually lost to foreclosure. Since the financial crisis began in September 2008, there have been approximately 4.2 million completed foreclosures across the country.

Approximately 1.2 million homes were in some stage of foreclosure in the U.S., known as the foreclosure inventory, as of January 2013 compared to 1.5 million in January 2012, a 21 percent year-over-year decrease. This was the 15thconsecutive month with a year-over-year decline. Month over month, the foreclosure inventory was down 3.3 percent from December 2012 to January 2013. The foreclosure inventory as of January 2013 represented 2.9 percent of all homes with a mortgage compared to 3.5 percent in January 2012.

“The backlog of distressed assets continues to fade as the foreclosure inventory has fallen to a level not seen since mid-2009, with less than 3 percent of all mortgages in foreclosure,” said Mark Fleming, chief economist for CoreLogic. “The improvement is widespread as only six states and 13 of the largest 100 metro areas had an increase in the foreclosure rate year over year.”

“We still have over a million homes in some stage of foreclosure which is too high, but the continuing downward trend in completed foreclosures is a very positive signal that there is a light at the end of the tunnel,” said Anand Nallathambi, president and CEO of CoreLogic. “We expect this trend will continue in 2013 as the housing market stabilizes and purchase activity picks up.

Highlights as of January 2013:
The five states with the highest number of completed foreclosures for the 12 months ending in January 2013 were: California (96,000), Florida (95,000), Michigan (74,000), Texas (59,000) and Georgia (50,000).These five states account for almost half of all completed foreclosures nationally.
The five states with the lowest number of completed foreclosures for the 12 months ending in January 2013 were: District of Columbia (96), Hawaii (458), North Dakota (508), Maine (538) and West Virginia (602).
The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were: Florida (10.0 percent), New Jersey (7.2 percent), New York (5.1 percent), Nevada (4.7 percent) and Illinois (4.6 percent).

The five states with the lowest foreclosure inventory as a percentage of all mortgaged homes were: Wyoming (0.4 percent), Alaska (0.6 percent), North Dakota (0.7 percent), Nebraska (0.8 percent) and Colorado (0.9 percent).

*December data was revised. Revisions are standard, and to ensure accuracy, CoreLogic incorporates newly released data to provide updated results.

National Foreclosure Inventory Falls 18 Percent From One Year Ago

CoreLogic® Reports 55,000 Completed Foreclosures in November

IRVINE, Calif., January 3, 2013 /PRNewswire/ — CoreLogic® (NYSE: CLGX), a leading provider of information, analytics and business services, today released its National Foreclosure Report, which provides data on completed U.S. foreclosures and the overall foreclosure inventory. According to CoreLogic, there were 55,000 completed foreclosures in the U.S. in November 2012, down from 72,000 in November 2011, a year-over-year decrease of 23 percent. On a month-over-month basis, completed foreclosures fell from 59,000* in October 2012 to the current 55,000, a decrease of 6 percent. As a basis of comparison, prior to the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month between 2000 and 2006. Completed foreclosures are an indication of the total number of homes actually lost to foreclosure. Since the financial crisis began in September 2008, there have been approximately 4.0 million completed foreclosures across the country.

Approximately 1.2 million homes, or 3.0 percent of all homes with a mortgage, were in the national foreclosure inventory as of November 2012 compared to 1.5 million, or 3.5 percent, in November 2011. Month-over-month, the national foreclosure inventory was down 3.5 percent from October 2012 to November 2012. Year-over-year, the foreclosure inventory was down 18 percent. The foreclosure inventory is the share of all mortgaged homes in any stage of the foreclosure process.

“The continued fall in completed foreclosures is a positive supply-side contribution in many regions of the U.S.,” said Anand Nallathambi, president and CEO of CoreLogic. “We still have a long way to go to return to historic norms, but this trend is firmly in the right direction.”

“The pace of completed foreclosures has significantly improved over a year ago as short sales gain popularity as a disposition method. Additionally, the inventory of foreclosed properties continues to decline while the housing market demonstrates an ongoing ability to absorb the distressed sales that result from completed foreclosures,” said Mark Fleming, chief economist for CoreLogic.

Highlights as of November 2012:
The five states with the highest number of completed foreclosures for the 12 months ending in November 2012 were: California (102,000), Florida (94,000), Michigan (75,000), Texas (58,000) and Georgia (52,000).These five states account for 50 percent of all completed foreclosures nationally.
The five states with the lowest number of completed foreclosures for the 12 months ending in November 2012 were: South Dakota (10), District of Columbia (62), Hawaii (415), North Dakota (491) and Maine (597).
The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were: Florida (10.4 percent), New Jersey (7.3 percent), New York (5.1 percent), Nevada (4.7 percent) and Illinois (4.7 percent).
The five states with the lowest foreclosure inventory as a percentage of all mortgaged homes were: Wyoming (0.4 percent), Alaska (0.7 percent), North Dakota (0.7 percent), Nebraska (0.8 percent) and South Dakota (1.0 percent).

*October data was revised. Revisions are standard, and to ensure accuracy CoreLogic incorporates newly released data to provide updated results.

Judicial Foreclosure States Foreclosure Ranking (Sorted by Completed Foreclosures)

Non-Judicial Foreclosure States Foreclosure Ranking (Sorted by Completed Foreclosures)

Foreclosure Data for Select Large Core Based Statistical Areas (CBSAs) (Sorted by Completed Foreclosures)

Figure 1 – Number of Mortgaged Homes per Completed Foreclosure
Judicial Foreclosure States vs. Non-Judicial Foreclosure States (3-month moving average)

Figure 2 – Foreclosure Inventory as of November 2012
Judicial Foreclosure States vs. Non-Judicial Foreclosure States

Figure 3 – Foreclosure Inventory by State Map