CoreLogic® Reports 58,000 Completed Foreclosures in October

         CoreLogic® Reports 58,000 Completed Foreclosures in October

—The National Foreclosure Inventory Has Fallen 9 Percent Year-to-Date—

PR Newswire

IRVINE, Calif., Dec. 3, 2012

IRVINE, Calif., Dec. 3, 2012 /PRNewswire/ --CoreLogic^® (NYSE: CLGX), a
leading provider of information, analytics and business services, today
released its National Foreclosure Report for October that provides data on
completed U.S. foreclosures and the overall foreclosure inventory. According
to CoreLogic, there were 58,000 completed foreclosures in the U.S. in October
2012, down from 70,000 in October 2011representing a year-over-year decrease
of 17 percent. On a month-over-month basis, completed foreclosures fell from
77,000* in September 2012 to the current 58,000, representing a decrease of 25
percent. As a basis of comparison, prior to the decline in the housing market
in 2007, completed foreclosures averaged 21,000 per month between 2000 and
2006. Completed foreclosures are an indication of the total number of homes
actually lost to foreclosure. Since the financial crisis began in September
2008, there have been approximately 3.9 million completed foreclosures across
the country.

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Approximately 1.3 million homes, or 3.2 percent of all homes with a mortgage,
were in the national foreclosure inventory as of October 2012 compared to 1.5
million, or 3.6 percent, in October 2011. Month-over-month, the national
foreclosure inventory was down 1.3 percent from September 2012 to October
2012. The foreclosure inventory is the share of all mortgaged homes in any
stage of the foreclosure process.

"A lower foreclosure inventory is a good indicator of improving housing
markets," said Anand Nallathambi, president and CEO of CoreLogic. "The
downward trend in foreclosure inventories over the past year is yet another
signal that a recovery in housing is gaining traction."

"As a result of completed foreclosures and alternative disposition methods,
the foreclosure inventory has declined by9 percent year-to-date. This is good
news for housing markets as we look forward to 2013,"said Mark Fleming, chief
economist for CoreLogic.

Highlights as of October 2012:

  oThe five states with the highest number of completed foreclosures for the
    12 months ending in October 2012 were: California (105,000), Florida
    (95,000), Michigan (68,000), Texas (59,000) and Georgia (54,000).These
    five states account for 49.0 percent of all completed foreclosures
  oThe five states with the lowest number of completed foreclosures for the
    12 months ending in October 2012 were: South Dakota (19), District of
    Columbia (64), Hawaii (452), North Dakota (511) and Maine (643).
  oThe five states with the highest foreclosure inventory as a percentage of
    all mortgaged homes were: Florida (11.1 percent), New Jersey (7.7
    percent), New York (5.3 percent), Illinois (5.0 percent) and Nevada (4.8
  oThe five states with the lowest foreclosure inventory as a percentage of
    all mortgaged homes were: Wyoming (0.5 percent), Alaska (0.7 percent),
    North Dakota (0.7 percent), Nebraska (0.8 percent) and South Dakota (1.0

*September data was revised from 57,000 completed foreclosures to 77,000.
Revisions are standard, and to ensure accuracy CoreLogic incorporates newly
released data to provide updated results. The larger-than-usual revision to
completed foreclosures is related to the annual online auction of delinquent
tax properties in Wayne County, Mich. Excluding Wayne County completed
foreclosures, there were 56,000 completed foreclosures in September.

Table 1: Judicial Foreclosure States Foreclosure Ranking (Sorted by Completed

Table 2: Non-Judicial Foreclosure States Foreclosure Ranking (Sorted by
Completed Foreclosures)

Table 3: Foreclosure Data for Select Large Core Based Statistical Areas
(CBSAs) (Sorted by Completed Foreclosures)

Figure 1: Number of Mortgaged Homes per Completed Foreclosure
Judicial Foreclosure States vs. Non-Judicial Foreclosure States (3-month
moving average)

Figure 2: Foreclosure Inventory as ofOctober 2012
Judicial Foreclosure States vs. Non-Judicial Foreclosure States

Figure 3: Foreclosure Inventory by State Map

The data in this report represents foreclosure activity reported through
October 2012.

This report separates state data into judicial vs. 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, while in non-judicial foreclosure states lenders can issue
notices of 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 lender's 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

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 lender's 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. Homes with no mortgage liens
can never be in 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
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unlawful manner. This data is compiled from public records, contributory
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About CoreLogic
CoreLogic (NYSE: CLGX) is a leading residential property information,
analytics and services provider in the United States and Australia. Our
combined data from public, contributory and proprietary sources spans over 700
million records across 40 years including detailed property records, consumer
credit, tenancy, hazard risk and location information.The markets CoreLogic
serves include real estate and mortgage finance, insurance, capital markets,
transportation and government.We deliver value to our clients through unique
data, analytics, workflow technology, advisory and managed services.Our
clients rely on us to help identify and manage growth opportunities, improve
performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic
operates in seven countries.For more information, please

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Contact: For real estate industry and trade media: Bill Campbell,, +1-212-995-8057 (office), +1-917-328-6539 (mobile);
For general news media: Lori Guyton,, +1-901-277-6066
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