National Foreclosure Report June 2015

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National Foreclosure Report

JUNE 2015


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n June, the foreclosure

nventory was down

4.1 percent from May 2015,

epresenting 44 months

of consecutive year-over-

year declines.

4.1%

The foreclosure rate for

the U.S. has dropped

to its lowest level since2007, supported by a

continuing decline in

loans made before 2009,

gains in employment, and

higher housing prices.The decline has not been

uniform geographically,

as the foreclosure rate

varies across metropolitan

areas. In the Denver andSan Francisco areas, the

foreclosure rate has fallen

to 0.3 percent, whereas in

the Tampa market the rate

is 3.5 percent and in Nassauand Suffolk counties it is an

elevated 4.8 percent.Frank Nothaft, chief economist at CoreLogi

2015 CoreLogic Proprietary and confidential. This material may not be reproduced in any form without express written permission.


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2015 CoreLogic Proprietary and confidential. This material may not be reproduced in any form without express written permission. JUNE 2015

National Overview through June 2015

There Were 43,000 Completed Foreclosures Nationally, Down From 50,000 in June 2014

Seriously Delinquent Rate Is at 3.5 Percent Lowest Level Since January 2008

Approximately 472,000 homes in the United States were in some stage of foreclosure

Compared to 664,000 in June 2014

Completed Foreclosures

43K 14.8% 4.8%in June 2015 Decline Year Over Year Compared to May 2015

A CoreLogic analysis shows 43,000 foreclosures were completed in June 2015, a 14.8 percent year-over-year

decline from 50,000* in June 2014. By comparison, before the decline in the housing market in 2007, completed

foreclosures averaged 21,000 per month nationwide between 2000 and 2006. On a month-over-month* basis,

completed foreclosures were up by 4.8 percent. Completed foreclosures are an indication of the total number of

homes actually lost to foreclosure.

* June 2014 data was revised. Revisions with public records are standard and to ensure accuracy, CoreLogic incorporates newly released data to

provide updated results.


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National Foreclosure Inventory

28.9% 1.2%Compared to June 2014 Of All Homes with a Mortgage

Approximately 472,000 homes in the United States were in some

stage of foreclosure as of June 2015, compared to 664,000 in June*

2014, a decrease of 28.9 percent. This was the 44th consecutive

month with a year-over-year decline. As of June 2015, the foreclosure

inventory represented 1.2 percent of all homes with a mortgage,

compared to 1.7 percent in June 2014.

* June 2014 data was revised. Revisions with public records are standard and to ensure accuracy, CoreLogic

incorporates newly released data to provide updated results.

Serious delinquency is at the lowest level in seven and a half years

reflecting the benefits of slow but steady improvements in the

economy and rising home prices. We are also seeing the positive

impact of more stringent underwriting criteria for loans originated

since 2009 which has helped to lower the national seriously

delinquent rate.

Anand Nallathambi,president and CEO of CoreLogic

THE FORECLOSURE

RATE, CURRENTLY AT

2 PERCENT, IS BACK TO

ANUARY 2008 LEVEL.



5/12

Time Series National Overview

JUL-

14

AUG-

14

SEP-

14

OCT-

14

NOV-

14

DEC-

14

JAN-

15

FEB-

15

MAR-

15

APR-

15

MAY-

15

JUN-

15

Serious

Delinquency*1,682 1,664 1,640 1,597 1,595 1,571 1,550 1,508 1,428 1,392 1,361 1,314

-MOM %

Chg in #-1.8% -1.1% -1.5% -2.6% -0.1% -1.5% -1.3% -2.7% -5.3% -2.5% -2.2% -3.4%

-YOY %

Chg in #-25.7% -23.8% -23.8% -24.3% -23.6% -23.7% -23.2% -20.6% -21.9% -21.7% -21.7% -23.3%

Foreclosure

Inventory*650 629 621 589 573 568 562 550 534 507 492 472

-MOM %

Chg in #-2.2% -3.2% -1.3% -5.1% -2.8% -0.8% -1.1% -2.1% -2.9% -5.1% -2.9% -4.1%

-YOY %

Chg in #-36.0% -35.6% -34.7% -34.7% -37.0% -34.7% -31.7% -27.8% -26.9% -27.1% -27.2% -28.9%

Completed

Foreclosures*50 45 66 50 40 39 43 35 37 37 41 43

-MOM %

Chg in #-1.7% -8.8% 46.7% -24.7% -20.2% -2.0% 9.9% -19.2% 7.0% -1.6% 12.2% 4.8%

-YOY %

Chg in #-14.8% -23.6% -4.8% -12.5% -15.4% -15.8% -23.1% -25.4% -23.6% -27.1% -19.6% -14.8%

-12-Month

Sum*633 619 615 608 601 593 581 569 557 544 534 526

*Thousands of Units

THE FORECLOSURE INVENTORY RECORDED 44 STRAIGHT MONTHS OF DECLINES

3.5%THE NUMBER

OF MORTGAGES

IN SERIOUS

DELINQUENCY IS

AT 3.5 PERCENT IN

JUNE 2015



6/12

Twelve states

Show declines of more than

30 percent in year-over-

year foreclosure inventory,

with Florida (47.7%) and

Connecticut (36.9%)

experiencing the greatest year-

over-year declines

states have an inventory of

foreclosed homes lower than

the national rate

31

Foreclosure Inventory by State

1.1%

1.4%

0.5%

1.9%

0.4%

0.4%2.1%

0.4%

0.5%

0.4% 0.4%

0.5%

0.4%

0.8%

1.4%

0.6%1.1%

0.9%

0.6%

0.9%

0.4%

0.7%

1.6%

0.5%

1.2%1.3%

1.2%

0.5%

0.9% 0.7% 0.7%

2.7%

1.3%

0.7%

0.5%0.7%

1.6%

3.7%

2.2%

1.4%

0.3%

0.7%

1.1%

1.4%

0.5%

1.9%

0.4%

0.4%2.1%

0.4%

0.5%

0.4% 0.4%

0.5%

0.4%

0.8%

1.4%

0.6%

4.7%

1.1%

0.9%

0.6%

0.9%

0.4%

0.7%

1.6%

0.5%

1.2%1.3%

1.2%

0.5%

0.9% 0.7% 0.7%

2.7%

1.3%

0.7%

0.5%0.7%

1.6%

3.7%

2.2%

1.4%

0.3%

2.5%

1.3%

2.4%

1.7%1.9%

4.7%

1.7%1.4%

0.7%0.7%

0.3%

As of June 2015

Source: CoreLogic Market Trends

Four states and the District of Columbia with the highest

foreclosure inventory as a percentage of mortgaged homes

2.4%

2.5%

2.7%

3.7%

4.7%

D.C.

Hawaii

Florida

New York

New Jersey

Five states with the lowest foreclosure inventory

as a percentage of mortgaged homes

0.4%

0.4%

0.4%

0.4%

0.3%

Montana

North Dakota

Nebraska

Minnesota

Alaska



7/12

Forty-five states posted

a year-over-year,

double-digit decline in

foreclosures. Two states

Wyoming (+4.1 percent)

Massachusetts

(+17.8 percent), and the

District of Columbia

(+18.1 percent)

experienced increases.

State Highlights

Percent of Homes in Foreclosure

0% 1% 2% 3% 4% 5% 6% 7%

NJ

NY

FL

HI

DC

ME

NM

NV

DE

CT

MD

PA

IL

OK

OR

MA

RI

OH

VT

SC

IN

KY

LA

WA

MS

AR

IA

KS

NC

ID

WV

AL

WI

NH

GA

TX

MO

SD

WY

TN

VA

MI

CA

UT

AZ

COMT

ND

NE

MN

AK

iil

i

il

Source: CoreLogic June 2015

Judicial

Non-Judicial

102,0

00

46,000

33,000

29,000

27,000

FL MI TX CA OH

32

107

313

499

56

6

SD DC ND WY WV

Four states and the District of

Columbia, with the lowest number

of completed foreclosures during

past 12 months

Five states with the highest number

of completed foreclosures during

past 12 months

These five states

account for

almost half ofall completed

foreclosures

nationally.



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JUDICIAL STATES

FORECLOSURE

INVENTORY

FORECLOSURE

INVENTORY

PCT. POINT

CHANGE FROM

A YEAR AGO

COMPLETED

FORECLOSURES

(12 MONTHS

ENDING

JUNE 2015)

SERIOUS

DELINQUENCY

RATE

Florida 2.7% -2.3% 101,938 6.3%

Ohio 1.3% -0.4% 27,295 3.8%

Pennsylvania 1.6% -0.4% 20,003 4.3%

Illinois 1.6% -0.8% 14,220 4.3%

Indiana 1.2% -0.4% 13,718 3.5%

New York 3.7% -0.7% 9,981 6.7%

New Jersey 4.7% -1.1% 9,947 8.3%

Maryland 1.7% -0.8% 9,119 5.0%

Louisiana 1.1% -0.3% 8,429 4.1%

Oklahoma 1.4% -0.2% 7,704 3.6%

South Carolina 1.3% -0.4% 7,166 3.4%

Wisconsin 0.7% -0.2% 5,986 2.1%

Oregon 1.4% -0.6% 5,657 3.2%

Connecticut 1.7% -1.0% 5,226 4.9%

Kentucky 1.2% -0.3% 3,381 3.4%

Kansas 0.8% -0.1% 2,594 2.8%

New Mexico 2.1% -0.1% 1,543 4.0%

Delaware 1.9% -0.3% 1,388 4.6%

Maine 2.2% -0.6% 809 5.1%

Hawaii 2.5% -0.6% 758 4.1%

North Dakota 0.4% -0.1% 313 0.9%

Vermont 1.3% -0.4% . 3.0%

North Dakota 0.5% 0.0% 326 0.9%

South Dakota 0.6% 0.0% 1.7%

Vermont 1.4% -0.4% 3.2%


State Foreclosure DataJudicial States


National

oreclosure Inventory: 1.3%

oreclosure Inventory

ct. Point Change from

Year Ago: 0.5%

ompleted Foreclosures

2 months ending

une 2015): 526,189

erious Delinquency: 3.5%

ecline in

eriously Delinquent

ortgages: 0.9% YOY


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NON-JUDICIAL

STATES

FORECLOSURE

INVENTORY

FORECLOSURE

INVENTORY

PCT. POINT

CHANGE FROM

A YEAR AGO

COMPLETED

FORECLOSURES

(12 MONTHS

ENDING

JUNE 2015)

SERIOUS

DELINQUENCY

RATE

Michigan 0.5% -0.3% 46,451 2.5%

Texas 0.6% -0.2% 33,020 2.6%

California 0.5% -0.2% 28,610 1.7%

Georgia 0.7% -0.3% 26,909 3.4%

North Carolina 0.7% -0.2% 18,258 2.9%

Tennessee 0.5% -0.2% 13,469 3.4%

Washington 1.1% -0.5% 12,082 2.7%

Arizona 0.4% -0.1% 12,026 1.7%

Missouri 0.6% -0.1% 11,938 2.6%

Virginia 0.5% -0.2% 11,771 2.3%

Alabama 0.7% -0.1% 8,932 3.9%

Nevada 1.9% -0.4% 7,046 4.6%

Minnesota 0.4% -0.1% 6,204 1.8%

Colorado 0.4% -0.2% 5,029 1.4%

Arkansas 0.9% -0.1% 4,653 3.9%

Iowa 0.9% -0.2% 4,210 2.2%

Massachusetts 1.4% 0.2% 4,117 3.7%

Idaho 0.7% -0.4% 3,062 2.0%

Utah 0.4% -0.2% 2,927 1.8%

New Hampshire 0.7% -0.1% 1,651 2.5%

Rhode Island 1.4% -0.5% 1,586 4.9%

Nebraska 0.4% 0.0% 1,345 1.7%

Mississippi 0.9% -0.2% 966 4.9%

Montana 0.4% -0.2% 825 1.4%

Alaska 0.3% -0.1% 723 1.3%

West Virginia 0.7% -0.1% 566 2.8%

Wyoming 0.5% 0.0% 499 1.7%

District of Columbia 2.4% 0.4% 107 3.9%

South Dakota 0.5% 0.0% 32 1.5%


State Foreclosure DataNon-Judicial States


National

Foreclosure Inventory: 1

Foreclosure Inventory

Pct. Point Change from

a Year Ago: 0

Completed Foreclosures

(12 months ending

June 2015): 526

Serious Delinquency: 3

Decline in

Seriously Delinquent

Mortgages: 0.9% Y


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METROPOLITAN AREAFORECLOSURE

INVENTORY

FORECLOSURE

INVENTORY PCT.

POINT CHANGE

FROM A YEAR AGO

COMPLETED

FORECLOSURES

(12 MONTHS

ENDINGJUNE 2015)

SERIOUS

DELINQUENCY

RATE

Tampa-St. Petersburg-Clearwater, FL 3.5% -2.5% 16,750 7.2%

Atlanta-Sandy Springs-Roswell, GA 0.7% -0.3% 14,524 3.3%

Orlando-Kissimmee-Sanford, FL 2.5% -2.4% 12,970 5.9%

Houston-The Woodlands-Sugar Land, TX 0.6% -0.2% 7,304 2.5%

Phoenix-Mesa-Scottsdale, AZ 0.4% -0.1% 7,114 1.5%

Chicago-Naperville-Arlington Heights, IL 1.8% -0.9% 6,316 4.9%

Riverside-San Bernardino-Ontario, CA 0.7% -0.3% 6,070 2.6%

Dallas-Plano-Irving, TX 0.6% -0.2% 5,445 2.5%

St. Louis, MO-IL 0.7% -0.1% 5,332 2.9%

New York-Jersey City-White Plains, NY-NJ 3.8% -0.9% 5,162 6.6%

Baltimore-Columbia-Towson, MD 1.7% -0.8% 4,895 5.1%

Los Angeles-Long Beach-Glendale, CA 0.5% -0.2% 4,834 2.0%

Minneapolis-St. Paul-Bloomington, MN-WI 0.4% -0.1% 4,754 1.8%

Charlotte-Concord-Gastonia, NC-SC 0.8% -0.3% 4,476 2.9%

Warren-Troy-Farmington Hills, MI 0.3% -0.2% 3,960 1.9%


Metropolitan Area HighlightsForeclosure Data for the Largest Core Based Statistical Areas (CBSAs)



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National Foreclosure Report Methodology

The data in this report represents foreclosure activity reported through June 2015.

This report separates state data into judicial versus non-judicial foreclosure state categories. In judicial foreclosure states, lenders must provide

evidence to the courts of delinquency in order to move a borrower into foreclosure. In non-judicial foreclosure states, lenders can issue noticesof default directly to the borrower without court intervention. This is an important distinction since judicial states, as a rule, have longer

foreclosure timelines, thus affecting foreclosure statistics.

A completed foreclosure occurs when a property is auctioned and results in the purchase of the home at auction by either a third party, such

as an investor, or by the lender. If the home is purchased by the lender, it is moved into the lenders real estate-owned (REO) inventory. In

foreclosure by advertisement states, a redemption period begins after the auction and runs for a statutory period, e.g., six months. During

that period, the borrower may regain the foreclosed home by paying all amounts due as calculated under the statute. For purposes of this

Foreclosure Report, because so few homes are actually redeemed following an auction, it is assumed that the foreclosure process ends in

foreclosure by advertisement states at the completion of the auction.

The foreclosure inventory represents the number and share of mortgaged homes that have been placed into the process of foreclosure by

the mortgage servicer. Mortgage servicers start the foreclosure process when the mortgage reaches a specific level of serious delinquency

as dictated by the investor for the mortgage loan. Once a foreclosure is started, and absent the borrower paying all amounts necessary to

halt the foreclosure, the home remains in foreclosure until the completed foreclosure results in the sale to a third party at auction or the home

enters the lenders REO inventory. The data in this report accounts for only first liens against a property and does not include secondary liens.

The foreclosure inventory is measured only against homes that have an outstanding mortgage. Generally, homes with no mortgage liens are notsubject 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 recipients 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 recipients 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.

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 services provider. The companys combined

data from public, contributory and proprietary sources includes over 3.5 billion records spanning more than 40 years, providing detailedcoverage 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

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CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.

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National Foreclosure Report June 2015

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