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Homeowners with negative equity declines for second consecutive quarter

Dennis Norman

After a couple of days of writing about bad reports on the housing market (existing home sales and new home sales to name two) I’m excited that I actually get to write something today that is positive! According to newly released data from CoreLogic, the percentage of homeowners in the U.S. with [...]

Report Shows Fraud in Short-Sales Cost Lenders $310 Million Annually

Dennis Norman

A report just released by CoreLogic estimate the financial impact of short-sale fraud to be $310 million annually. It is estimated there is fraud in one in every 53 short sale transactions resulting in an unnecessary loss to the lender of $41,000 per transaction on average.

Gulf Oil spill could cost coastal homeowners up to $3 Billion in home values

 

Dennis Norman

Report looks at impact of the BP Deepwater Horizon Oil spill on Florida Coastal home values

According to a report released this morning by CoreLogic the impact of the BP DeepWater Horizon oil spill on home values in the coastal area’s along the Gulf coast is expected to range from $648 million [...]

Mortgage Fraud Trend Down; Still $14 Billion in 2009 Losses

Dennis Norman

Worst Street In America for Mortgage Fraud is In Orlando (actually they have 5 of the top 10 streets)

According to the 2010 Mortgage Fraud Trends Report released by CoreLogic this week, fraud risk in the mortgage industry has declined by 25 percent since it peaked in the third quarter of 2007. Even [...]

Home Prices in the U.S. Increase In May

Dennis Norman

According to a report issued today by CoreLogic, their home price index shows home prices in the U.S. increased in May, marking the fourth-consecutive month there was a year-over-year increase in home prices. U.S. home prices in May 2010 increased by 2.9 percent over May 2009.

Highlights from the report:

The top five states with [...]

‘Shadow’ Foreclosure Inventory is the 800 lb Gorilla

Dennis Norman

For way too long I’ve been writing about record, or near- record, levels of foreclosures and mortgage delinquencies. My ongoing concern about this, in terms of the housing market, is that I just don’t see how we are going to have a sustainable recovery of the housing market while we have [...]

Slight Decline In Number of Underwater Homeowners

Dennis Norman

According to a report released by CoreLogic, there were 11.2 million homeowners that were in a negative equity, or “underwater“, position on their mortgages as of the end of the first quarter of this year.  This number is equal to 24 percent of all homeowners with a mortgage in the U.S., which is [...]

Home Price Index Shows First Annual Increase in Over Three Years

Dennis Norman

Report Cautions That Shadow Inventory and End of Tax Credit Program May Result in Further Declines
A report released today by First American CoreLogic shows that national home prices increased 0.3 percent in February 2010 compared to February 2009 and was the first annual home price index increase in over three years.

On a month-over-month [...]

US Foreclosure Rate and Mortgage Delinquency Rate Continues to Rise

Dennis Norman

A report released by First American CoreLogic shows the foreclosure rate in the US increased in January to 3.19 percent, an increase of 60.3 percent from a year ago when the national foreclosure rate was 1.99 percent.

The national rate for seriously delinquent mortgage’s (mortgages that are 90+ days delinquent) increased in January as well to a rate [...]

Almost one-in-four borrowers underwater on home mortgage

Seventy Percent of all mortgaged properties in Nevada are underwater

Dennis Norman

According to a report released today by First American CoreLogic more than 11.3 million U.S. mortgages, or 24 percent of all mortgaged properties, are in a negative equity position meaning the borrowers owe more on their mortgage than their home is worth as of December 31, [...]

Housing Market Shows Narrowing Decline, Slowed Recovery

Dennis Norman

Home Prices Exhibit “Improving Declines” (sounds rather oxymoronic, huh?)

In a report issued by First American CoreLogic national home prices continue to decline with their HPI (Loan Performance Home Price Index) declining by 3.7 percent in December 2009 compared with the year before. If you take the distressed sales out (foreclosures, short sales, etc) [...]

U.S. Home prices continue to decline

Dennis Norman

Forecast is for further declines

In a report issued today by First American CoreLogic national home prices continue to decline with their HPI (Loan Performance Home Price Index) declining by 5.7 percent in November 2009 compared with the year before. If you take the distressed sales out (foreclosures, short sales, etc) the nation decline in HIP [...]

Home prices in US declined 7.8 percent in past year…expected to fall another 4.2 percent

Dennis Norman

In spite of recent “upbeat” reports on the housing market and some people even saying the worst is over, when it comes to declining home values it appears the fat lady hasn’t sung yet

According to a report issued by First American CoreLogic national home prices continue to decline with their HPI (Loan Performance [...]

Almost 11 million homeowners are underwater on their mortgage

Average value of home with “underwater” mortgage $210,300 – Average loan balance $280,000 – Average amount “upside down” $70,000

Dennis Norman

According to a report released today by First American CoreLogic nearly 10.7 million U.S. mortgages, or 23 percent of all mortgaged properties, are in a negative equity position meaning the borrowers owe more on [...]

Home prices in U.S. drop in September; Forecast is for 1.1 percent appreciation in next 12 months

Dennis Norman

According to a report issued by First American CoreLogic national home prices continue to decline with their HPI (Loan Performance Home Price Index) declining by 9.8 percent in September 2009 compared with the year before. If you take the distressed sales out (foreclosures, short sales, etc) the nation decline in HIP for the same [...]

Home Price Forecast Predicts Further Decline Before Upswing; Bottom in March, 2010

Dennis Norman

According to a report issued by First American CoreLogic  the rate of decline in U.S. home prices improved in August with prices 10.1 percent below August 2008, compared with July’s year-over-year price decline of 11.6 percent and June’s decline of 14.1 percent. 
 
Obviously these numbers are being impacted by the number of distressed sales, which in some parts [...]

Fed’s Loan Modification Program resulting in savings of $120 per month for borrowers

Dennis Norman

According to a study conducted by First American CoreLogicentitled “How the U.S. Consumer Has Benefited from Mortgage Finance Programs in 2009″, projections are there will be $2.3 billion in mortgages refinanced as a result of the Fed’s “Making Home Affordable” plan. According to the study, the median individual monthly savings was $120.

“ The quantitative easing policies of [...]

New data shows nearly one-third of all mortgages underwater

Dennis Norman

According to a report issued by First American CoreLogic more than 15.2 million U.S. mortgages, or 32.2 percent of all mortgaged properties, are in a negative equity position meaning the borrowers owe more on their mortgage than their home is worth.
In addition, according to the CoreLogic report, there are an additional 2.5 million mortgaged [...]

Home Price Declines in U.S. continue to improve

Dennis Norman

Home prices in the U.S. fell 9.2% in May compared to a year ago according to newly released data from First American CoreLogic and its Loan Performance Home Price Index (HPI).  This drop represents the smallest year-over-year decline since December 2007. 

 
Below are other highlights from the data released:

The rate of national price [...]

National Home Prices Back to 2004 Levels

Dennis Norman

By: Dennis Norman

According to a report issued late last week by First American CoreLogic, Inc. based upon their LoanPerformance HPI1 home price data for February 2009, national housing prices have declined for 24 consecutive months to a level equal to 2004 prices.

CoreLogic reported:

National housing prices fell 12.2 percent in February from a year ago.
The [...]