Mortgage Deliquencies and Foreclosures Decline in February 2012

March 24th, 2012
in econ_news

Econintersect: Yesterday, Econintersect reported that Corelogic's Shadow inventory levels in the period ending January 2012 were unchanged from the previous reporting period.  Now Corelogic is reporting that two of the three elements of shadow inventory - delinquent mortgages and homes in the foreclosure process - declined in February 2012.

Highlights of the report show a reduction of 5% month-over-month (14% YoY) in delinquencies and a 0.5% reduction month-over-month (0.3% YoY) in foreclosures.  Florida continues to lead in the amount of delinquent loans.

Follow up:

From CoreLogic:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure):​ 7.57%​
Month-over-month change in delinquency rate:​ -5.0%
Year-over-year change in delinquency rate:​ -14.0%​
Total U.S foreclosure pre-sale inventory rate:​ 4.13%​
Month-over-month change in foreclosure presale inventory rate:​ -0.5%​
Year-over-year change in foreclosure presale inventory rate:​ -0.3%​
Number of properties that are 30 or more days past due, but not in foreclosure: (A)​ 3,781,000​
Number of properties that are 90 or more days delinquent, but not in foreclosure:​ 1,722,000​​
Number of properties in foreclosure pre-sale inventory: (B)​ 2,065,000​
Number of properties that are 30 or more days delinquent or in foreclosure:  (A+B)​ 5,846,000​
States with highest percentage of non-current* loans:​ FL, MS, NV, NJ, IL​
States with the lowest percentage of non-current* loans:​ MT, AK, WY, SD, ND

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
(1) Totals are extrapolated based on LPS Applied Analytics’ loan-level database of mortgage assets
(2) All whole numbers are rounded to the nearest thousand

This report is based on CoreLogic's loan-level database of nearly 40 million mortgage loans.

Steven Hansen

source: Corelogic

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved