Market Overview

CoreLogic Reports Early-Stage Delinquencies Increased Slightly in December But Serious Delinquency and Foreclosure Inventory Rates Declined Year Over Year

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  • Overall Mortgage Delinquency Was Flat Year Over Year
  • Early-Stage Delinquencies Rose 0.1 Percentage Points Year Over Year
  • Foreclosure Rate Declined 0.2 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, 5.3
percent of mortgages were in some stage of delinquency (30 days or more
past due, including those in foreclosure) in December 2017. This
represents no change in the overall delinquency rate compared with
December 2016 when it was also 5.3 percent.

This press release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20180313005533/en/

CoreLogic National Overview of Mortgage Loan Performance, featuring December 2017 Data  (Graphic: Bu ...

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

As of December 2017, the foreclosure inventory rate, which measures the
share of mortgages in some stage of the foreclosure process, was 0.6
percent, down 0.2 percentage points from 0.8 percent in December 2016.
Since August 2017, the foreclosure inventory rate has been steady at 0.6
percent, the lowest level since June 2007, when it was also 0.6 percent.
This past December's foreclosure inventory rate was the lowest for the
month of December in 11 years; it was also 0.6 percent in December 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 2.3 percent in December 2017, up 0.1 percentage points from 2.2
percent in both November 2017 and December 2016. The share of mortgages
that were 60-89 days past due in December 2017 was 0.8 percent, down
from 0.9 percent in November 2017 and up from 0.7 percent in December
2016. The serious delinquency rate – defined as 90 days or more past
due, including loans in foreclosure – was 2.1 percent in December 2017,
up from 2 percent in November 2016 and down from 2.3 percent in December
2016. The December 2017 serious delinquency rate was the lowest for the
month of December since December 2006, when it was 1.5 percent.

"The wildfires in Sonoma and Napa counties began October 8 and destroyed
or damaged thousands of homes. Two- and three-month delinquency rates
have spiked in these two counties, more than doubling between October
and December," said Dr. Frank Nothaft, chief economist for CoreLogic.
"The after effects of Hurricanes Harvey, Irma and Maria continue to
appear as well. Serious delinquency rates in the Houston and Miami
metropolitan areas doubled between September and year-end and quadrupled
in the San Juan area of Puerto Rico."

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 1.1 percent in December 2017, up from 1 percent
in both November 2017 and December 2016. This was the highest rate for a
December, as it was 1.2 percent in December 2013. By comparison, in
January 2007, just before the start of the financial crisis, the
current- to 30-day transition rate was 1.2 percent, while it peaked in
November 2008 at 2 percent.

"The effect of the wildfires and hurricanes on delinquency transition
rates was all too clear in our latest analysis," said Frank Martell,
president and CEO of CoreLogic. "In Sonoma and Napa counties, both
30-to-60 day and 60-to-90 day delinquent transition rates in December
were more than double what they had averaged the prior year. Likewise,
neighborhoods affected by hurricanes have seen a jump in transition
rates in the months immediately following. These natural disasters have
stalled or reversed the decline in 30-to-119 day delinquency rates that
we had seen previously."

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

Methodology

The data in this report represents foreclosure and delinquency activity
reported through December 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 Alyson Austin at newsmedia@corelogic.com
or Allyse Sanchez at corelogic@ink-co.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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