Tag Archives: corelogic

CoreLogic Report Shows Home Prices Up 6.3 Percent Year Over Year in November 2015

Forecast Projects Increase of 5.4 Percent by November 2016

By Jeff Sorg, OnlineEd Blog

(c) Can Stock Photo(January 5, 2016) – CoreLogic® today released its CoreLogic Home Price Index (HPI™) and HPI Forecast™ data for November 2015. The index shows home prices are up year-over-year and month-over-month.

Nationwide home prices, including distressed sales, increased by 6.3 percent in November 2015 when compared with November 2014 and increased by 0.5 percent in November 2015 when compared with October 2015, according to the HPI.

The CoreLogic HPI forecasts that home prices will increase by 5.4 percent on a year-over-year basis from November 2015 to November 2016, and on a month-over-month basis home prices are expected to remain flat from November 2015 to December 2015.

“Heading into 2016, home price growth remains in its sweet spot as prices have increased between 5 and 6 percent on a year-over-year basis for 16 consecutive months,” said Dr. Frank Nothaft, chief economist for CoreLogic. “Regionally we are beginning to see fissures, with slowdowns in some Texas and California markets, but the northwest and southeast remain on solid footing.” “Many factors, including strong demand and tight supply in many markets, are contributing to the long-sustained boom in prices and home equity which is a very good thing for those owning homes,” said Anand Nallathambi, president and CEO of CoreLogic. “On the flip side, prices have outstripped incomes for several years in a number of regions so, as we enter 2016, affordability is becoming more of a constraint on sales in some markets.”

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For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers, visit www.OnlineEd.com.

 All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained by third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

Report Shows An 8.9 Percent Decrease In Mortgage Fraud Risk

Greater scrutiny has had a positive impact on mortgage fraud

By Jeff Sorg, OnlineEd Blog

fraud(Ocboter 20, 2015) – As of the end of the second quarter of 2015, the CoreLogic® Mortgage Fraud Report shows an 8.9 percent year-over-year decrease in fraud risk, as measured by the Mortgage Application Fraud Risk Index.

Susan Allen, senior vice president of Mortgage Analytics at CoreLogic says, “New regulations, like Qualified Mortgage (QM) and Ability to Repay (ATR), as well as stricter credit overlays, have resulted in greater scrutiny of mortgage applications. Greater scrutiny, in turn, has had a positive impact on the rate of fraudulent applications. In the markets where fraud remains strong, there are also significant inventories of distressed properties. Typically, this leads to large value discrepancies with nearby properties, which increases the risk of incorrect valuation, fraud-for-profit schemes, and occupancy fraud on properties recently converted to rentals.”

Louisiana is the state with the highest year-over-year growth in mortgage application fraud risk at 17 percent; Kansas had the largest decline at 35.2 percent. Jumbo mortgages continue to have the highest fraud risk, followed by low-down payment mortgages.

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For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers, visit www.OnlineEd.com.

 All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained by third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

Home Prices Up By 6.8% Year over Year, Says Corelogic® Report

(c) Can Stock Photo(Jeff Sorg, OnlineEd) – CoreLogic® has released its April 2015 CoreLogic Home Price Index (HPI®). The nationwide index shows that home prices, including distressed sales, increased by 6.8 percent in April 2015 compared with April 2014. This represents 38 months of consecutive year-over-year increases in home prices.

Excluding distressed sales, home prices increased by 6.8 percent in April 2015 compared with April 2014 and increased by 2.3 percent month over month compared with March 2015. Excluding distressed sales, only South Dakota (-0.3 percent) and Louisiana (-0.2 percent) showed year-over-year depreciation in April.

 “For the first four months of 2015, home sales were up 9 percent compared to the same period a year ago,” said Frank Nothaft, chief economist for CoreLogic. “One byproduct of the increased sales activity is rising house prices, and, as a result, month-over-month home prices are up almost 3 percent for April 2015 and up more than 6 percent from a year ago.”

“Old fashion supply and demand, fueled by historically low mortgage rates and improving consumer finances and confidence, continue to push home prices up,” said Anand Nallathambi, president and CEO of CoreLogic. “We expect continued price appreciation throughout 2015 and into next year. Over the longer term, household formation, up by more than one million over the past year alone, will drive down vacancy rates and create tighter housing markets in many metropolitan areas. This should provide the necessary underpinning for rising prices for the foreseeable future.”

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For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers, visit www.OnlineEd.com.

  This article was published on June 2, 2015. All information contained in this posting is deemed correct and current as of this date, but is not guaranteed by the author and may have been obtained by third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.