CoreLogic Reports 54,000 Completed Foreclosures in February

         CoreLogic Reports 54,000 Completed Foreclosures in February

-- Foreclosures Down 19 Percent Nationally Since February 2012 --

PR Newswire

IRVINE, Calif., March 28, 2013

IRVINE, Calif., March 28, 2013 /PRNewswire/ -- CoreLogic^® (NYSE: CLGX), a
leading residential property information, analytics and services provider,
today released its National Foreclosure Report for Februarywhich provides
data on completed U.S. foreclosures and the overall foreclosure inventory.
According to CoreLogic, there were 54,000 completed foreclosures in the U.S.
in February 2013, down from 67,000 in February 2012, a year-over-year decrease
of 19 percent. On a month-over-month basis, completed foreclosures fell from
58,000* in January 2013 to the February level of 54,000, a decrease of 7

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As a basis of comparison, prior to the decline in the housing market in 2007,
completed foreclosures averaged 21,000 per month nationwide 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 4.2 million completed foreclosures across
the country.

Approximately 1.2 million homes were in some stage of foreclosure in the U.S.,
known as the foreclosure inventory, as of February 2013 compared to 1.5
million in February 2012, a decrease of 21 percent. The foreclosure inventory
as of February 2013 represented 2.8 percent of all homes with a mortgage
compared to 3.5 percent in February 2012. This was the 16^th consecutive month
with a year-over-year decline. Month over month, the foreclosure inventory was
down 1.8 percent from January 2013 to February 2013.

"February's 54,000 completed foreclosures is the lowest level nationally since
September 2007, with most major metropolitan areas experiencing improvements,"
said Dr. Mark Fleming, chief economist for CoreLogic. "Even the major Florida
markets are benefiting with the foreclosure inventories falling the fastest in
major metropolitan areas, although from a very high level."

"We continue to see a declining trend in foreclosure activity, with major
markets leading the way," said Anand Nallathambi, president and CEO of
CoreLogic. "The drop in delinquencies and foreclosure starts will help support
a resurgence in the home purchase market this year and next."

Highlights as of February 2013:

  oThe five states with the highest number of completed foreclosures for the
    12 months ending in February 2013 were: Florida (95,000),California
    (90,000), Michigan (73,000), Texas (57,000) and Georgia (49,000).These
    five states account for almost half of all completed foreclosures
  oThe five states with the lowest number of completed foreclosures for the
    12 months ending in February 2013 were: District of Columbia (96), Hawaii
    (469), North Dakota (482), Maine (542) and West Virginia (588).
  oThe five states with the highest foreclosure inventory as a percentage of
    all mortgaged homes were: Florida (9.9 percent), New Jersey (7.2 percent),
    New York (5.0 percent), Nevada (4.6 percent) and Illinois (4.5 percent).
  oThe five states with the lowest foreclosure inventory as a percentage of
    all mortgaged homes were: Wyoming (0.5 percent), Alaska (0.6 percent),
    North Dakota (0.7 percent), Nebraska (0.8 percent) and Montana (0.9

*January data was revised. Revisions are standard, and to ensure accuracy,
CoreLogic incorporates newly released data to provide updated results.

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

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

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

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

Figure 2: Foreclosure Inventory as of February 2013
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
February 2013.

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. 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 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 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

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
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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 or Bill
Campbell at 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 property information, analytics and
services provider in the United States and Australia. The Company's combined
data from public, contributory, and proprietary sources includes over 3.3
billion records spanning more than 40 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, transportation and government. 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 seven countries. For more information, please

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SOURCE CoreLogic

Contact: For real estate industry and trade media: Bill Campbell,, +1-212-995-8057, For general news media: Lori Guyton,, +1-901-277-6066
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