CoreLogic Reports Mortgage Performance Continues Steady Improvement in April 2017 – Press Release

IRVINE, Calif.–(Business Wire)–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, 4.8
percent of mortgages were in some stage of delinquency (30 days or more
past due including those in foreclosure) in April 2017. This represents
a 0.5 percentage point decline in the overall delinquency rate compared
with April 2016 when it was 5.3 percent.

This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170711005481/en/

CoreLogic National Overview of Loan Performance (April 2017 Data) (Graphic: Business Wire)

As of April 2017, the foreclosure inventory rate, which measures the
share of mortgages in some stage of the foreclosure process, was 0.7
percent compared with 1 percent in April 2016. The serious delinquency
rate, defined as 90 days or more past due including loans in
foreclosure, was 2 percent, down from 2.6 percent in April 2016.

Measuring early-stage delinquency rates is important for analyzing the
health of the mortgage market. To comprehensively monitor mortgage
performance, 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.

Early-stage delinquencies, defined as 30-59 days past due, increased to
2.2 percent in April 2017 from 2 percent in April 2016. The share of
mortgages that were 60-89 days past due in April 2017 was 0.63 percent,
down slightly from 0.64 percent in April 2016.

“Most major indicators of mortgage performance improved in April,
showing that the market continues to benefit from improved economic
growth and home price increases,” said Dr. Frank Nothaft, chief
economist for CoreLogic. “Regionally, with the exception of several
energy industry intensive states – Alaska and North Dakota – the rest of
the U.S. continues to see improvements in mortgage performance. While
overall performance is improving, it reflects the older legacy pipeline
of loans that continue to heal, especially in judicial states which
typically take longer to clear out.”

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 1.2 percent in April 2017 compared with 1
percent in April 2016, a 0.2 percentage point increase year over year.
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.

“Delinquency rates are down virtually across the board as the rebound in
the U.S. housing market continues to gather steam. It appears likely
that delinquency rates will continue to fall for some time, but at a
moderating pace,” said Frank Martell, president and CEO of CoreLogic.
“As we look forward, improved fundamentals provide us with a firm
foundation and we must now increase our attention to carefully expand
the supply of affordable housing stock and ensure that mortgage lending
policies help to prudently promote first-time homeownership.”

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 April 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.

For CoreLogic
Real estate industry and trade media:
Bill
Campbell, 212-995-8057
bill@campbelllewis.com
or
General
news media:
Lori Guyton, 901-277-6066
lguyton@cvic.com

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