Market Overview

CoreLogic Reports Mortgage Delinquency Rates Lowest in More Than a Decade

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  • Overall Mortgage Delinquency Rate Fell 0.6 Percentage Points Year
    Over Year
  • Foreclosure Rate Declined 0.3 Percentage Points Year Over Year
  • Serious Delinquency Rate Declined 0.5 Percentage Points Year Over
    Year

CoreLogic® (NYSE:CLGX), a leading global property
information, analytics and data-enabled solutions provider, today
released its monthly Loan
Performance Insights Report
which shows that, nationally, 4.6
percent of mortgages were in some stage of delinquency (30 days or more
past due including those in foreclosure) in August 2017. This represents
a 0.6 percentage point year-over-year decline in the overall delinquency
rate compared with August 2016 when it was 5.2 percent.

This press release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20171114005480/en/

CoreLogic National Overview of Mortgage Loan Performance, featuring August 2017 Data (Graphic: Busin ...

CoreLogic National Overview of Mortgage Loan Performance, featuring August 2017 Data (Graphic: Business Wire)

As of August 2017, the foreclosure inventory rate, which measures the
share of mortgages in some stage of the foreclosure process, was 0.6
percent, down from 0.9 percent in August 2016. This was the lowest
foreclosure inventory rate for the month of August in 11 years since
August 2006 when it was 0.5 percent.

Measuring early-stage delinquency rates is important for analyzing the
health of the mortgage market. To monitor mortgage performance
comprehensively, CoreLogic examines all stages of delinquency as well as
transition rates, which indicate the percentage of mortgages moving from
one stage of delinquency to the next.

The rate for early-stage delinquencies, defined as 30-59 days past due,
was 2 percent in August 2017, down slightly from 2.1 percent in August
2016. The share of mortgages that were 60-89 days past due in August
2017 was 0.7 percent, unchanged from August 2016. The serious
delinquency rate (90 days or more past due) declined 0.5 percentage
points year over year from 2.4 percent in August 2016 to 1.9 percent in
August 2017. The 1.9 percent serious delinquency rate in June, July and
August of this year marks the lowest level for any month since October
2007 when it was also 1.9 percent, and is also the lowest for the month
of August since 2007 when the serious delinquency rate was 1.7 percent.
Alaska was the only state to experience a year-over-year increase in its
serious delinquency rate in August 2017.

"The effect of the drop in crude oil prices since 2014 has taken a toll
on mortgage loan performance in some markets," said Dr. Frank Nothaft,
chief economist for CoreLogic. "Crude oil prices this August were less
than half their level three years ago. This has led to oil-related
layoffs and an increase in loan delinquency rates in states like Alaska
and in oil-centric metro areas like Houston."

Since early-stage delinquencies can be volatile, CoreLogic also analyzes
transition rates. The share of mortgages that transitioned from current
to 30-days past due was 0.9 percent in August 2017, unchanged from
August 2016. By comparison, in January 2007 just before the start of the
financial crisis, the current-to-30-day transition rate was 1.2 percent
and it peaked in November 2008 at 2 percent.

"Serious delinquency and foreclosure rates are at their lowest levels in
more than a decade, signaling the final stages of recovery in the U.S.
housing market," said Frank Martell, president and CEO of CoreLogic. "As
the construction and mortgage industries move forward, there needs to be
not only a ramp up in homebuilding, but also a focus on maintaining
prudent underwriting practices to avoid repeating past mistakes."

For ongoing housing trends and data, visit the CoreLogic Insights Blog: www.corelogic.com/blog.

Methodology

The data in this report represents foreclosure and delinquency activity
reported through August 2017.

The data in this report accounts for only first liens against a property
and does not include secondary liens. The delinquency, transition and
foreclosure rates are measured only against homes that have an
outstanding mortgage. Homes without mortgage liens are not typically
subject 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 recipient's 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 recipient's 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. For questions, analysis or interpretation of the
data, contact Lori Guyton at lguyton@cvic.com
or Bill Campbell at bill@campbelllewis.com.
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 solutions provider. The company's combined
data from public, contributory and proprietary sources includes over 4.5
billion records spanning more than 50 years, providing detailed coverage
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 and the CoreLogic logo are trademarks of CoreLogic, Inc.
and/or its subsidiaries.

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