Market Overview

CoreLogic Reports Mortgage Delinquency Rates Lowest in More Than a Decade

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  • Overall Mortgage Delinquency Rate Fell 0.2 Percentage Points Year
    Over Year
  • Foreclosure Rate Declined 0.2 Percentage Points Year Over Year
  • Early-Stage Delinquencies Rose 0.3 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, 5 percent
of mortgages were in some stage of delinquency (30 days or more past due
including those in foreclosure) in September 2017. This represents a 0.2
percentage point year-over-year decline in the overall delinquency rate
compared with September 2016 when it was 5.2 percent.

This press release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20171212005540/en/

CoreLogic National Overview of Mortgage Loan Performance, featuring September 2017 Data. (Graphic: B ...

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

As of September 2017, the foreclosure inventory rate, which measures the
share of mortgages in some stage of the foreclosure process, was 0.6
percent, down from 0.8 percent in September 2016. Both August and
September of this year experienced the lowest foreclosure inventory rate
since June 2007 when it was also 0.6 percent, and the September
foreclosure inventory rate was the lowest for the month of September in
11 years when it was 0.5 percent in September 2006.

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 2.4 percent in September 2017, up 0.3 percentage points from 2.1
percent in September 2016. The share of mortgages that were 60-89 days
past due in September 2017 was 0.7 percent, unchanged from September
2016. The serious delinquency rate, those that are 90 days or more past
due, declined 0.4 percentage points year over year from 2.3 percent in
September 2016 to 1.9 percent in September 2017. The 1.9 percent serious
delinquency rate in June, July, August and September 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 September since 2007
when the serious delinquency rate was 1.8 percent.

"September's early-stage delinquency rate increased by 0.3 percent from
a year ago, the largest increase since June 2009. This does not reflect
a deterioration in credit, but rather the impact of the hurricanes in
Texas, Florida and Puerto Rico," said Dr. Frank Nothaft, chief economist
for CoreLogic. "September's early-stage delinquency transition rate rose
to 2.6 percent in Texas and it rose to 3.2 percent in Florida, which is
higher than the 1 percent that's typical for both states. Texas and
Florida's early-stage delinquency transition rates in September are much
lower than New Orleans in September 2005 when the transition rate
reached 17.4 percent as a result of Hurricane Katrina."

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 1.3 percent in September 2017, up from 0.9
percent in September 2016. The September rate was the highest for any
month in nearly three years, since November 2014 when it was 1.4
percent. 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.

"While natural hazard risk was elevated in 2017, the economic
fundamentals that drive mortgage credit performance are the best in two
decades," said Frank Martell, president and CEO of CoreLogic. "The
combination of strong job growth, low unemployment rates, steady
economic performance and prudent underwriting has led to continued
improvement in mortgage performance heading into next year."

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 September 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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