CFPB Finds Americans are Paying Upfront Fees Seeking to Lower Interest Rates on Mortgages
"Discount points" have uncertain value for borrowers WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) issued a new report today finding that more borrowers paid "discount points" upfront as overall interest rates rose. The percentage of homebuyers paying discount points roughly doubled from 2021 to 2023. The increase was even greater among borrowers with lower credit scores. While discount points may provide advantages to some borrowers, the financial tradeoffs are complex. The CFPB is monitoring these increases and potential risks to consumers. "Higher interest rates on mortgages have led borrowers to pay upfront fees to lower their interest payments," said CFPB Director Rohit Chopra. "The heavy use of 'discount points' suggests that many borrowers are uncertain about their ability to refinance in the future." Discount points are a one-time fee paid at closing to a lender in exchange for a lower interest rate. Paying one discount point is the equivalent of paying a fee of one percent of the loan amount, but discount points have no fixed value in terms of the change in interest rate. Most borrowers only benefit from discount points if they keep their mortgage long enough that the cumulative monthly savings from the reduced interest rate outweigh the upfront costs. The report published today used quarterly Home Mortgage Disclosure Act (HMDA) data from 2019 through the first three quarters of 2023. The report found that borrowers with lower credit scores were more likely to pay discount points, and that discount points were especially prevalent among Federal Housing Administration (FHA) borrowers with low credit scores. This indicates that lenders may be using discount points to lower borrowers' monthly payments and debt-to-income ratio, which is one of the measurements lenders use to assess a borrower's ability to repay in order to qualify for a mortgage. Nearly 77 percent of FHA borrowers with credit scores below 640 purchased discount points, while 65 percent of all FHA borrowers paid discount points. Discount points were most common among borrowers with cash-out refinances, with 87 percent of those borrowers in September 2023 paying discount points, up from 61 percent in January 2021. Nearly 61 percent of borrowers with home purchase loans and 58 percent of borrowers with non-cash-out refinance loans also paid discount points in September 2023, up from 31 and 36 percent in 2021, respectively. Borrowers with cash-out refinances also paid a greater number of discount points. The median amount of discount points in the 2023 quarterly data was 2.1 points for cash-out refinance loans, 1.1 points for non-cash-out refinances, and 1.0 point for home purchase loans. HMDA data are the most comprehensive source of publicly available information on the U.S. mortgage market. In addition to submitting annual application-level data, the largest mortgage lenders must submit quarterly HMDA data to their regulators. Aggregate statistics from the quarterly data are publicly available in the HMDA quarterly graphs. Read the report, Trends in Discount Points amid Rising Interest Rates. The CFPB has resources for mortgages, including answers to common questions about discount points. Consumers can submit complaints about mortgages, and about other financial products and services, by visiting the CFPB's website or by calling (855) 411-CFPB (2372). Employees of companies who they believe their company has violated federal consumer financial laws are encouraged to send information about what they know to [email protected]. The Consumer Financial Protection Bureau is a 21st century agency that implements and enforces Federal consumer financial law and ensures that markets for consumer financial products are fair, transparent, and competitive. For more information, visit www.consumerfinance.gov.

Homebuyers on a $3,000 Monthly Budget Have Gained $40,000 in Purchasing Power Since Mortgage Rates Peaked Last Fall
Redfin reports buyers can afford a more expensive home now that mortgage rates have dropped to 6.7%, down from nearly 8% in October SEATTLE — A homebuyer on a $3,000 monthly budget has gained nearly $40,000 in purchasing power since mortgage rates peaked this past fall, according to a new report from Redfin, the technology-powered real estate brokerage. A $3,000 monthly budget will buy a $453,000 home with a 6.7% mortgage rate, roughly this week's average. That's compared to the $416,000 home the same buyer could have purchased in October with an average rate of 7.8%. To look at affordability from another perspective, the monthly mortgage payment on the typical U.S. home, which costs roughly $363,000, is $2,545 with a 6.7% rate. The monthly payment was nearly $200 higher— $2,713— when rates were at 7.8%. Homebuyers are getting some relief in 2024 as mortgage rates come down from the two-decade high they hit this past October. Weekly average rates dipped into the 6.6% range by the end of 2023, and ticked up slightly to 6.7% this week. While that's double the record-low 3% rates buyers scored during the pandemic, Redfin agents report that buyers have come to terms with the 6% range— but they were more hesitant when they were approaching 8%. "Bidding wars are picking up as mortgage rates decline and inventory stays low. I've seen a few homes get 15-plus offers recently, and one got more than 30," said Shoshana Godwin, a Redfin Premier agent in Seattle. "Late last year, many listings sat on the market as buyers sat on the sidelines, hoping for rates to drop. Now, buyers are snapping up homes because even though rates haven't plummeted, people are realizing that the longer they wait to buy a home, the more competition they're likely to face." Mortgage rates likely to stay in the 6's for the foreseeable future Redfin economists predict mortgage rates will end the year lower than they started, but the path is likely to be bumpy. Redfin is keeping an eye on next week's Fed meeting to provide more clues on how soon they will cut interest rates: It could be as soon as March, but it's likely to be later. Mortgage rates should come down a little— but not a lot— when interest rates are cut. "My advice to serious house hunters: Trying to time the market around mortgage rates is probably a waste of energy, as affordability is unlikely to change meaningfully in the next several months," said Redfin Chief Economist Daryl Fairweather. "Instead, buyers should consider their own personal and financial circumstances: What matters most is whether the home meets your needs long term and whether you can afford it. Timing the market mattered in 2021, when we were in a golden window of record-low rates— but that window is closed." View the full report here. About Redfin Redfin is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We also run the country's #1 real estate brokerage site. Our home-buying customers see homes first with same day tours, and our lending and title services help them close quickly. Customers selling a home in certain markets can have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Customers who buy and sell with Redfin pay a 1% listing fee, subject to minimums, less than half of what brokerages commonly charge. Since launching in 2006, we've saved customers more than $1.5 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 4,000 people.

Only 3 in 10 Veterans Know They Can Buy a Home with Zero Down
Realtor.com® and an alliance of organizations launches the #MissionZero campaign to educate veterans and servicemembers about their hard-earned home loan benefit SANTA CLARA, Calif., Nov. 8, 2023 -- While many veterans are aware they have access to Veterans Affairs home loan benefits, which honor their service by making homeownership more accessible, just 3 in 10 know they can use that benefit to buy a home with a zero down payment, according to a new national survey of veterans and active duty service members. A unique alliance of real estate, media, mortgage and Veteran service organizations are joining forces to change that. The #MissionZero campaign aims to make sure every Veteran and service member knows their hard-earned VA loan benefit helps them buy with 0% down. Joining Realtor.com® in the effort are some of News Corp's most popular media properties, such as the New York Post and the Wall Street Journal, along with the Tunnel to Towers Foundation, the Veterans of Foreign Wars and Veterans United Home Loans. The #MissionZero campaign aims to provide essential information and support to those who are serving or have served our nation, helping them achieve their dreams of buying a home. The campaign aims not to end until every Veteran and service member knows the power of what they've earned. "VA home loans offer many benefits, especially at times like this when affordability is such a major factor in home purchase decisions. Yet only a small portion of eligible Veterans are tapping into the financial benefits they deserve for their service," said Damian Eales, CEO at Realtor.com®. "At Realtor.com®, the #MissionZero campaign was born out of the belief that nothing should stand in the way of homeownership, especially a down payment. We owe it to our Veterans to ensure they have the information they need to make informed housing decisions. It's a small way to give back to those who have given so much, and we appreciate our partners for joining us in the cause." VA home loans help boost savings and homeownership among Veteran households VA home loans typically offer qualified borrowers zero down payment, more flexible credit terms, and lower interest rates, making it easier to access homeownership, especially for first-time buyers who do not have home equity to draw on. These advantages place Veterans in a more favorable position than non-Veterans in today's housing market, according to a new Realtor.com® report. Realtor.com®'s report found the homeownership rate for Veteran households, according to the latest available data, was 79.7%, significantly surpassing that of non-Veterans, 63.5%. Additionally, data shows homeownership rates for Veterans are higher than non-Veterans in all of the top 100 metros, and with greater awareness, VA loans could help even more Veterans overcome current market challenges. "After nearly eight decades of helping Veterans and military families buy homes and build generational wealth, the VA loan benefit is more important than ever," said Nathan Long, CEO of Veterans United. "The #MissionZero campaign helps highlight how VA loans are built to eliminate obstacles and make homeownership more accessible for those who serve. At the same time, they also offer Veterans the freedom to choose how and where they invest their savings." VA loans empower Veteran homeownership by allowing lower down payments and credit scores, along with lower interest rates The hallmark advantage of VA loans is the ability to purchase a home without the burden of a down payment, a game-changer in today's market. Realtor.com® found that over the last year, while 3 in 4 (75.2%) VA loans had a 0% down payment, some borrowers do put money down to reduce their loan's principal balance, and the average down payment percentage for VA loans was 2.7% – significantly less than the average 19.1% down payment percent for conforming loans. Data on VA loans shows a greater share of issuance to those with less than perfect credit compared to other loans, making homeownership possible to a wider net of borrowers. In the past year, about 24.8% of home buyers with VA loans fell into the Fair credit score category (580-669) compared to 4.7% among conforming loan borrowers. VA loans also typically have lower mortgage interest rates, which reduces monthly costs. Between October 2022 and September 2023, the average mortgage rate for 30-year fixed-rate VA loans was 6.27%, whereas it was 6.67% for conforming loans. All of these loan advantages stack up, and VA loans place Veteran households in a more favorable position than non-Veterans in today's housing market, saving borrowers hundreds monthly. Veterans and military personnel interested in learning more about VA home loans and the #MissionZero campaign, can visit www.realtor.com/veterans. Methodology See the full Realtor.com® report for the methodology and additional findings. The 3 in 10 statistic is based on a national survey of 300 respondents, split evenly between active duty service members and Veterans, conducted in October 2023 by data and analytics firm Sparketing. About Realtor.com® Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com.

Freddie Mac Launches New Tool to Help Millions of Homebuyers Take Advantage of Down Payment Assistance Programs Nationwide
DPA One® simplifies the process for lenders and program assistance providers to help more first-time homebuyers achieve homeownership MCLEAN, Va., Oct. 16, 2023 -- Freddie Mac (OTCQB: FMCC) today announced it has launched DPA One® to help mortgage lenders quickly find and match borrowers to down payment assistance programs nationwide. DPA One is an innovative new tool that aggregates and showcases down payment assistance programs in a single, standardized, insights-rich tool so lenders can quickly and efficiently access and compare programs to help make home possible for more families. "Time and again research reveals that the down payment is the single largest hurdle first-time homebuyers need to overcome to attain homeownership. But finding and comparing the many programs and their guidelines is challenging," said Sonu Mittal, Freddie Mac Single-Family Senior Vice President of Acquisitions. "DPA One delivers a one-stop shop at no cost that brings lenders and their borrowers greater detail and visibility into these programs, while seamlessly connecting the right assistance program with the lender, housing counselors and borrowers who need this assistance the most." For lenders and housing counselors, DPA One makes it easy to enter client eligibility parameters, quickly receive and compare appropriately matched programs, and download results to immediately share with clients for easy reference. By comparing up to three programs at a time side-by-side, lenders can review and make faster and more informed decisions on programs they would like to pursue to help their clients. "State housing finance agencies help meet the affordable housing needs of their residents including making first-time homeownership more feasible for millions of people around the country by providing down payment assistance," said Stockton Williams, Executive Director of the National Council of State Housing Agencies. "DPA One will make it easier for mortgage lenders of all kinds to participate in HFA down payment assistance programs so they can more easily reach the underserved borrowers these programs were designed to help." For down payment assistance program providers, DPA One helps reduce submission errors and program requirement questions from lenders by using a single, standardized format while providing access to manage, edit and update their programs in real-time. "We are proud to invest in down payment assistance programs to serve Colorado homebuyers," said Dan McMahon, Home Finance Director with Colorado Housing and Finance Authority. "DPA One is an exciting innovation that simplifies the intake process and offers lenders a standardized view of various down payment assistance programs across the state. This will ultimately help connect more homebuyers with the resources they need to achieve homeownership." DPA One is available immediately at no cost to lenders, housing counselors and down payment assistance program providers. DPA One currently has the down payment assistance programs available for 48 of the 50 state housing finance agencies, including local and municipal programs for the Texas and Minnesota markets. Additional local and municipal assistance programs will be available for Florida, Virginia, California, and Kentucky before yearend, with the remaining local and state programs coming online throughout 2024. The Freddie Mac Home Possible® mortgage helps very low-to low-income borrowers attain the dream of owning a home with a down payment requirement of as little as 3%. In addition to their own funds, borrowers can also receive down payment assistance to help reach the minimum 3% down payment requirement. Since 2015, Freddie Mac has made homeownership possible for more than 760,000 families through $150.4 billion in Home Possible and Freddie Mac HFA Advantage® mortgages. Loan officers and down payment assistance program providers can visit the DPA One website for more information and to request a demo. About Freddie Mac Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home.

Zillow Home Loans offers a 1% down payment option, opening homeownership to more borrowers
This program can reduce the time needed to save for a down payment and provide another option for those who are otherwise ready to take on a mortgage payment SEATTLE, Aug. 24, 2023 -- Zillow Home Loans announced its 1% Down Payment program to allow eligible home buyers to pay as little as 1% down on their next home purchase. This program is initially being offered on properties located in Arizona, with plans to expand to additional markets. With the 1% Down Payment program, borrowers who qualify can now save just 1% to cover their portion of the down payment and Zillow Home Loans will contribute an additional 2% at closing. The 1% Down Payment program can reduce the time eligible home buyers need to save and open homeownership to those who are otherwise ready to take on a mortgage. Most markets are in the midst of an affordability crisis, and saving for a down payment remains one of the biggest barriers for many potential home buyers. This is especially true for first-time buyers, who are often paying high rents. Typical asking rent nationwide is $2,062, or 3.6% higher than one year ago and up 31% since the start of the pandemic. (The typical rent in the U.S. in February 2020 was $1,597.) The combination of record-breaking home price appreciation and rising interest rates means a majority of first-time buyers (64%) are putting down less than 20%, and one-quarter of first-time buyers are putting down 5% or less. Zillow Home Loans' 1% Down Payment program lowers the down payment barrier and increases access to the housing market for eligible borrowers. An analysis by Zillow Home Loans' shows that by reducing the down payment burden to 1% of the purchase price, a home buyer looking to purchase a $275,000 home in Phoenix, Arizona, who makes 80% of their area's median income and saves 5% of their income would need only 11 months to save for the down payment. By comparison, the same buyer who needed to save 3% of the purchase price would require two and half years (31 months) to save that amount. "For those who can afford higher rent payments but have been held back by the upfront costs associated with homeownership, down payment assistance can help to lower the barrier to entry and make the dream of owning a home a reality," said Zillow Home Loans' senior macroeconomist Orphe Divounguy. "The rapid rise in rents and home values means many renters who are already paying high monthly housing costs may not have enough saved up for a large down payment, and these types of programs are welcome innovations in lowering the potential barriers to homeownership for those who qualify." Home buyers looking to purchase in the next year should take steps to research and prepare for getting a mortgage as they start on their home-financing journey. Among those steps: Understand your credit profile: Credit scores are key to getting approved for a mortgage, but for many home buyers, understanding credit is complex. Improve your credit score: Once buyers familiarize themselves with what's in their credit report, they can take steps to pay down existing debts, pay bills on time, and review their credit report and dispute possible errors. Avoid closing accounts: Don't close an account to remove it from your report. Those accounts aren't automatically removed and will continue to show up on your report. Hold off on financing large new purchases: Wait to make purchases that need to be financed, such as a car, until after you close on a home. This type of purchase will impact your debt-to-income ratio, which will negatively affect the amount of home loan you qualify for. Determine what affordability looks like: Once buyers have a good understanding of their credit report and their credit score is at least 620 (generally the lowest score accepted by mortgage lenders) it's time to understand how much home they can afford. Use Zillow's mortgage affordability calculator to customize payment details. Zillow Home Loans' 1% Down Payment program is currently available to eligible borrowers in Arizona, with plans to expand. Through the 1% Down Payment program, Zillow Home Loans will pay 2% of the down payment for eligible borrowers. The 2% is paid through closing and not as a payment to the borrower. Interested applicants should call 1-833-372-1449 to speak with a Zillow Home Loans representative to learn more about the program and determine if it's the right fit for their circumstances. About Zillow Group Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life's next chapter. As the most visited real estate website in the United States, Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting, or financing with transparency and ease. Zillow Group's affiliates and subsidiaries include Zillow®; Zillow Premier Agent®; Zillow Home Loans™; Trulia®; Out East®; StreetEasy®; HotPads®; and ShowingTime+™, which houses ShowingTime®, Bridge Interactive®, and dotloop®. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org).

Redfin Reports Cross-Country Movers Largely Undeterred by High Mortgage Rates
Redfin.com user search data shows that 14% fewer homebuyers looked to move within their own metro area in February than a year earlier, compared with a 4% drop for out-of-town movers SEATTLE — The number of Redfin.com home searchers looking to relocate to a new metro fell 3.6% year over year in February, according to a new report from Redfin, the technology-powered real estate brokerage. That compares with a 14.4% drop in Redfin.com home searchers looking to relocate within their current metro. Those are both the biggest declines in Redfin's records, which go back through 2018. The rise in mortgage rates over the last year has made purchasing a home more expensive almost across the board, but elevated rates often aren't as big of a deterrent for relocating homebuyers because they're typically moving to more affordable areas. Someone moving from Los Angeles to Las Vegas, for instance, could buy a home comparable to the one they're selling in Los Angeles for half the price. High rates don't impact that buyer as much because they're getting a cheaper house and may be using proceeds from a home sale in a more expensive area. People moving from one part of the country to another may also be doing so for a higher-paying job, which would help offset high mortgage rates. Additionally, homebuyers relocating to a different part of the country may have a non-negotiable reason for their move: Maybe they are moving for that higher-paying job, or to be closer to family. High rates are less likely to deter those homebuyers than ones simply considering a different house within the same town. Share of Buyers Looking to Move to a New Metro Is at a Record High One-quarter (25.1%) of house hunters nationwide looked to relocate to a new metro in February, a record high. That's up from 22.9% a year earlier and roughly 18% before the pandemic. Relocators made up a bigger portion of homebuyers than ever because elevated mortgage rates, still-high home prices, inflation and economic uncertainty are motivating the few people who are still buying homes to move to more affordable areas. Remote work has also made it more feasible for Americans to relocate. Florida, other Sun Belt destinations are most popular with relocating buyers Miami, Phoenix, Las Vegas, Sacramento, CA and Tampa, FL were the most popular destinations for house hunters looking to move to a different metro in February. Other parts of Florida and a couple Texas metros round out the top 10: Orlando, Cape Coral, Dallas, North Port-Sarasota and Houston. Popularity is determined by net inflow, a measure of how many more Redfin.com users looked to move into an area than leave. Relatively affordable Sun Belt metros perennially top the list of places people are looking to move, due mainly to their comparatively cheap housing and warm weather. While homes in these places cost considerably more than pre-pandemic, they remain comparatively affordable. The typical home in most of the popular destinations is less expensive than the typical home in the top origins. The typical Miami home sold for $485,000 in February, compared with $640,000 in New York, the most common origin for homebuyers looking to move in. And the typical Phoenix home sold for $425,000, compared with $710,000 Seattle, the most common origin. "For buyers coming from the Bay Area or another expensive place, homes in Phoenix seem cheap. That's why out-of-towners are still buying homes even though rates are high," said Phoenix Redfin agent Heather Mahmood-Corley. "Desirable, well-priced homes are selling quickly, sometimes with a bidding war–largely because there are still so many buyers moving in from out of town." House hunters are leaving expensive job centers Homebuyers looked to leave San Francisco, New York and Los Angeles more than any other metro in February, followed by Washington, D.C. and Chicago. This ranking is determined by net outflow, a measure of how many more Redfin.com users looked to leave a metro than move in. While San Francisco tops the list of places people are looking to leave, fewer homebuyers are leaving than a year ago. That may be partly because Bay Area home prices are falling. Expensive coastal job centers typically top the list of places people are leaving. That trend became more pronounced in recent years as remote work allowed homebuyers to relocate to more affordable areas. View the full report, including charts and methodology, here. About Redfin Redfin is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We also run the country's #1 real estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Customers who buy and sell with Redfin pay a 1% listing fee, less than half of what brokerages commonly charge. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 5,000 people.

Updates to conforming loan limits mean 2 million U.S. homes no longer require a jumbo loan
This could open up more home options for buyers shopping at higher price points and hoping to avoid the additional fees of a jumbo loan SEATTLE, Jan. 4, 2023 -- More than 2 million homes across the country no longer require a jumbo loan, according to a new analysis by Zillow Home Loans. This means customers will have additional available inventory that is covered by a more accessible financing option. The change is due to the Federal Housing Finance Agency's (FHFA) recent increase of conforming loan limits to $1,089,300 in some high-cost markets. The news may be welcome for buyers looking to purchase a home this coming shopping season, as jumbo loans often come with additional fees and more stringent qualification standards, making them less affordable for most buyers. The FHFA increased the limits on the home price that qualifies for a conforming loan, which is the largest amount a mortgage company can lend to a borrower and still sell the loans conventionally to Fannie Mae and Freddie Mac. Compared to conforming loans, jumbo loans typically require a higher credit score — 700 is the minimum score that many lenders accept for a jumbo loan, versus the score of 620 that many require for a conforming loan. Bigger down payments are also the norm with a jumbo loan: Jumbo loans often require 20% down, although some call for even higher down payments. Some jumbo loans also will require proof of larger cash reserves than conventional loans (up to 12 months worth). For the majority of the country, the conforming loan requirement increased by $79,000 — going from $647,200 in 2022 to a baseline of $726,200 in 2023. In the most expensive parts of the county (103 counties), the conforming loan limit was raised to $1,089,300, topping the $1 million mark for the first time. These counties are largely concentrated in the nation's most expensive metro areas, along the coasts and in the Mountain West. These updates to loan limits come within a changing housing market. While home price appreciation has slowed, home prices are still significantly higher than a year ago. Affordability challenges weighed heavily on home sales in the second half of 2022 — the number of listings that went pending in November fell by 16.5% from October and are down 38% compared to last November. "The addition of 2 million homes that now qualify for conforming loan options across the county is welcome news for home buyers entering a shopping season with fewer homes on the market," said Nicole Bachaud, Zillow Home Loans senior economist. "Home price appreciation has slowed significantly, and this means that homes nearing jumbo loan territory will stay eligible for conforming loans longer than we have seen in the last few years." A recent survey from Zillow Home Loans shows that prospective buyers spend nearly as much time researching their next TV purchase as they do their mortgage lender. Home buyers looking to purchase in the next year can take steps now to research and prepare for their mortgage as they get started on their home-financing journey, including: Understanding their credit profile: Credit scores are key to getting approved for a mortgage, but for many home buyers, understanding credit is complex. Improving their credit score: Once buyers familiarize themselves with what's in their credit report, they can take steps to pay down existing debts, pay bills on time, and review their credit report and dispute possible errors. Avoiding closing accounts: Don't close an account to remove it from your report. Those accounts aren't automatically removed and will continue to show up on your report. Holding off on large purchases that need to be financed: Wait to make purchases that need to be financed, such as a car, until after you close on a home. This type of purchase will impact your debt-to-income ratio, which will negatively impact the amount of home loan you qualify for. Determining what affordability looks like: Once buyers have a good understanding of their credit report and are satisfied with their credit score, it's time to understand how much home they can afford. Use Zillow's mortgage affordability calculator to customize payment details. "Buyers should educate themselves about loan limits in their area and speak with qualified loan officers so they are making informed choices about their home purchase and the best loan option for their personal financial situation," said Bachaud. About Zillow Group Zillow Group, Inc. (NASDAQ: Z) and (NASDAQ: ZG) is reimagining real estate to make it easier to unlock life's next chapter. As the most visited real estate website in the United States, Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting or financing with transparency and ease. Zillow Group's affiliates and subsidiaries include Zillow®, Zillow Premier Agent®, Zillow Home Loans™, Zillow Closing Services™, Trulia®, Out East®, ShowingTime®, Bridge Interactive®, dotloop®, StreetEasy® and HotPads®. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org)

2023 Housing Outlook: A Post-Pandemic Sales Slump Will Push Home Prices Down for the First Time in a Decade
While Redfin expects high mortgage rates to keep housing costs up and prevent people from moving, high homeowner equity and a resilient job market will stave off a wave of foreclosures SEATTLE — Mortgage rates will take center stage in 2023, with high rates likely to make it the slowest housing-market year since 2011, according to annual end-of-year predictions from Redfin, the technology-powered real estate brokerage. Redfin’s forecasts for mortgage rates, home sales and home-sale prices account for a range of outcomes for inflation, employment and other macroeconomic factors. As such, predictions for those key housing metrics lead with the most likely scenario, followed by other possible outcomes highlighted in the full report that could happen if, for instance, a better-than-expected inflation report results in an earlier or bigger-than-expected mortgage-rate drop. Prediction #1: Home sales will fall to their lowest level since 2011, with a slow recovery in the second half of the year Redfin expects about 16% fewer existing home sales in 2023 than 2022, landing at 4.3 million, with would-be buyers pressing pause due mostly to affordability challenges including high mortgage rates, still-high home prices, persistent inflation and a potential recession. People will only move if they need to. Prediction #2: Mortgage rates will decline, ending the year below 6% Redfin expects 30-year fixed mortgage rates to gradually decline to around 5.8% by the end of the year, with the average 2023 homebuyer’s rate sitting at about 6.1%. Mortgage rates dipping from around 6.5% to 5.8% would save a homebuyer purchasing a $400,000 home about $150 on their monthly mortgage payment. To look at it another way, a homebuyer on a $2,500 monthly budget can afford a $383,750 home with a 6.5% rate; that same buyer could afford a $406,250 home with a 5.8% rate. Still, that’s much less affordable than a few years earlier. With a 3% rate, which was common in 2020 and 2021, that same buyer could afford a $517,000 home. Prediction #3: Home prices will post their first year-over-year decline in a decade, but the U.S. will avoid a wave of foreclosures Redfin predicts the median U.S. home-sale price to drop by roughly 4%—the first annual drop since 2012—to $368,000 in 2023. That’s due to elevated rates and final sale prices starting to reflect homes that went under contract in late 2022. Prices would fall more if not for a lack of homes for sale: Redfin expects new listings to continue declining through most of next year, keeping total inventory near historic lows and preventing prices from plummeting. Very few homeowners are likely to see their mortgages fall underwater even with next year’s anticipated price declines. That’s because the homeowners who’ve had their home for at least a few years have fixed low mortgage payments and plentiful home equity after values skyrocketed during the pandemic. Prediction #4: Midwest, Northeast will hold up best as overall market cools Housing markets in relatively affordable Midwest and East Coast metros, especially in the Chicago area and parts of Connecticut and upstate New York, will hold up relatively well, even as the U.S. market cools. Those areas tend to be more stable than expensive coastal areas, and they didn’t heat up as much during the pandemic homebuying frenzy. Prediction #5: Rents will fall, and many Gen Zers and young millennials will continue renting indefinitely Redfin expects U.S. asking rents to post a small year-over-year decline by mid-2023, with drops coming much sooner in some metros. Some large landlords are likely to offer concessions, such as a free month’s rent or free parking, before dropping asking rents. The rental price declines will be partly due to increasing supply, which has already led to an uptick in vacant units in apartment buildings. Increasing rental supply and declining prices—along with high mortgage rates, limited inventory and other affordability barriers—mean few renters will become buyers next year. Many prospective first-time homebuyers may instead become move-up renters, upgrading from a small urban apartment to a larger apartment or a single-family rental to fit their growing families. Prediction #6: Builders will focus on multifamily rentals Builders will continue to pull back on constructing new homes next year, with year-over-year declines of roughly 25% in building permits and housing starts continuing into 2023. Builders will back off most from building new single-family homes. Construction of single-family homes surged during the pandemic, which means builders need to offload the homes they have on hand without adding more supply to limit their financial losses. They’ll pull back dramatically in some markets like Phoenix and Dallas, where they built too many homes in anticipation of demand that’s failing to materialize. Constructing rental units, including apartment buildings and multifamily houses, will make more financial sense for builders next year, as rental demand won’t fall off as much. Prediction #7: Investor activity will bottom out in the spring, then rebound Real estate investors will purchase about 25% fewer homes than a year earlier, with purchases likely to bottom out in the spring. Investors’ business model is to buy low and sell–or rent–high, and the cash they borrow to buy homes outright is no longer cheap. Fewer iBuyers in the market is also a factor in slowing activity. Some investors, especially newer and smaller ones, will bow out of the housing market entirely and others will slow their activity. But if inflation slows and the Fed eases up on rate hikes as expected, investors will likely start buying more homes in the second half of the year, taking advantage of slightly lower home prices. Prediction #8: Gen Zers will seek jobs and apartments in relatively affordable mid-tier cities Gen Zers are entering into a workforce with more remote-work opportunities than ever before, which means they’ll have more flexibility in where they’ll choose to start their careers than older generations. They can prioritize things like affordability, lifestyle, weather and proximity to family. Prediction #9: Migration from one part of the country to another will ease from the pandemic boom Redfin expects the share of Americans relocating from one metro to another will slow to about 20% in 2023, down from 24% this year. That’s still above pre-pandemic levels of around 18%. In 2023’s slow market, there won’t be a next Austin. Even Austin isn’t Austin anymore: The wave of homebuyers moving into Austin has slowed to a trickle, as many people are now priced out and many remote workers who wanted to relocate have already done so. Prediction #10: Rising disaster-insurance costs will make extremely climate-risky homes even more expensive Some Americans will be priced out of climate-risky areas like beachfront Florida and the hills of California because of ballooning insurance costs. Redfin expects disaster-insurance rates to continue rising next year (and beyond), rendering housing in some areas more expensive. Prediction #11: More cities will follow Minneapolis’ YIMBY example to curb housing expenses More U.S. cities will look to Minneapolis, which in 2019 became the first major city to eliminate single-family-only zoning, for inspiration in keeping rental and home prices under control. Earlier this year, Minneapolis became the first metro area to see rents decline. Prediction #12: Buyers’ agent commissions will rise slightly as fewer agents broker fewer deals at lower prices Next year’s slow housing market is likely to reverse or at least halt the downward trend in buyers’ agent commissions. The hot pandemic-era housing market pushed the typical U.S. buyers’ agent commission down to 2.63% of the home’s sale price in 2022, its lowest level since at least 2012. But declines in home prices and sales will prop up buyers’ agent commissions next year. Sellers will also play a part, with some offering to pay higher commission for buyers’ agents to attract bidders. View the full report, including charts and more detail on predictions, here. About Redfin Redfin is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 5,000 people.

Steep Drop in Mortgage Lending Continues Across U.S. in Third Quarter, Hitting Three-Year Low
Total Loans Down Another 19 Percent Quarterly, Marking Sixth Straight Drop; Refinance Lending Declines Another 31 Percent Quarterly, While Purchase Loans Decrease 16 Percent; Drop-offs Far Outweigh Ongoing Rise in Home-Equity Lending IRVINE, Calif. – Nov. 17, 2022 — ATTOM, a leading curator of real estate data nationwide for land and property data, today released its third-quarter 2022 U.S. Residential Property Mortgage Origination Report, which shows that 1.97 million mortgages secured by residential property (1 to 4 units) were originated in the third quarter of 2022 in the United States. That figure was down 19 percent from the second quarter of 2022 – the sixth quarterly decrease in a row – and down 47 percent from the third quarter of 2021 – the biggest annual drop in 21 years. The continued decline in residential lending resulted from double-digit downturns in both refinance and purchase loan activity that far outweighed another increase in home-equity credit lines. Overall, lenders issued $636.5 billion worth of mortgages in the third quarter of 2022. That was down quarterly by 22 percent and 46 percent annually. As with the number of loans, the annual decrease in the dollar volume of mortgages stood out as the largest since at least 2001 and was the latest sign that the 11-year U.S. housing market boom is losing steam. "There are no surprises in this quarter's loan origination numbers, as the unprecedented jump in mortgage rates has battered both the purchase and refinance markets," said Rick Sharga, executive vice president of market intelligence at ATTOM. "Prospective homebuyers have been priced out of the market by the combination of 7 percent mortgage rates and higher home prices. And refinance activity will probably continue to decline, since the majority of homeowners have loans with sub-4 percent interest rates." The continued dip came as just 661,000 residential loans were rolled over into new mortgages and borrowers took out only 943,000 loans to buy homes during the third quarter of 2022. During a period when mortgage interest rates continued to climb, refinancing activity was down 31 percent from the second quarter of 2022 and 68 percent from a year earlier. Refinancing activity has dropped for six consecutive quarters, to a level that is just one-quarter of what it was in early 2021. The dollar volume of refinance loans in the period running from July through September was down 33 percent from the prior quarter and 67 percent annually, to $212 billion. The number of purchase loans, meanwhile, slumped by 16 percent quarterly and 33 percent annually, while the dollar volume decreased to $353.9 billion. Only a 5 percent quarterly jump in the number and value of HELOCs – the third quarterly straight gain – kept the industry from seeing an across-the-board contraction. By the end of the third quarter, refinance activity represented just a third of overall mortgages, compared to two-thirds as recently as the first quarter of last year. Purchase lending continued at just under half of all activity in the third quarter of 2022, while home-equity packages comprised one of every five mortgage deals completed. That ratio for so-called HELOC loans was up from one of every 21 a year and a half ago. The most recent mortgage numbers are among the strongest reflections yet of a U.S. housing market that has cooled considerably after 11 years of nearly uninterrupted gains. Total mortgages drop at fastest annual pace since 2001 Banks and other lenders issued 1,968,930 residential mortgages in the third quarter of 2022. That was down 18.7 percent from 2,421,540 in the second quarter of 2022 and down 46.9 percent from 3,708,000 in the third quarter of 2021. The annual decline marked the largest since at least 2001. The $636.5 billion dollar volume of loans in the third quarter was down 22.4 percent from $819.9 billion in the prior quarter and was 46.4 percent less than the $1.19 trillion lent in the third quarter of 2021. Overall lending activity decreased from the second quarter of 2022 to the third quarter of 2022 in 206, or 98 percent, of the 210 metropolitan statistical areas around the U.S. with a population of more than 200,000 and at least 1,000 total residential mortgages issued in the third quarter of 2022. Total lending activity was down at least 15 percent in 116 of the metros with enough data to analyze (55 percent). The largest quarterly decreases were in Myrtle Beach, SC (total lending down 52.7 percent); Knoxville, TN (down 44.5 percent); Charleston, SC (down 43 percent); Ogden, UT (down 41 percent) and Buffalo, NY (down 36.2 percent). Aside from Buffalo, metro areas with a population of least 1 million that had the biggest decreases in total loans from the second quarter to the third quarter of 2022 were St. Louis, MO (down 35.8 percent); Miami, FL (down 30.4 percent); Washington, DC (down 30.1 percent) and San Jose, CA (down 28.2 percent). The biggest increases, or smallest decreases, in the total number of mortgages from the second quarter to the third quarter of 2022 were in Hartford, CT (up 5 percent); Syracuse, NY (up 0.8 percent); Claremont-Lebanon, NH (up 0.8 percent); Warner Robins, GA (up 0.6 percent) and York, PA (down 0.6 percent). No metro areas with a population of at least 1 million aside from Hartford saw total loan originations increase from the second to the third quarter of this year. Refinance mortgage originations slump to lowest point since early 2019 Lenders issued 660,767 residential refinance mortgages in the third quarter of 2022 – the smallest count since the first quarter of 2019. The latest number was down 31 percent from 957,515 in second quarter of 2022, 67.9 percent from 2,059,465 in the third quarter of 2021 and 75.3 percent from a peak of 2,680,523 hit in the first quarter of last year. It fell for the sixth straight quarter, the longest run of declines this century. The $212 billion dollar volume of refinance packages in the third quarter of 2022 was down 33 percent from $316.4 billion in the prior quarter and down 67.1 percent from $645.2 billion in the third quarter of 2021. Refinancing activity decreased from the second quarter of 2022 to the third quarter of 2022 in 208, or 99 percent, of the 210 metropolitan statistical areas around the country with enough data to analyze. Activity dropped quarterly by at least 25 percent in 131 metro areas (62 percent). The largest quarterly decreases were in Myrtle Beach, SC (refinance loans down 62 percent); Buffalo, NY (down 59.4 percent); Salinas, CA (down 54.7 percent); Knoxville, TN (down 52.4 percent) and Charleston, SC (down 49.5 percent). Aside from Buffalo, metro areas with a population of least 1 million that had the biggest decreases in refinance activity from the second quarter to the third quarter of this year were Washington, DC (down 46.9 percent); New York, NY (down 46 percent); Miami, FL (down 45.5 percent) and St. Louis, MO (down 45 percent). The only metro areas where refinance lending increased from the second quarter to the third quarter were Sioux Falls, SD (up 11.4 percent) and Hartford, CT (up 3.2 percent). Purchase mortgages decrease for fourth time in last five quarters Lenders originated 943,242 purchase mortgages in the third quarter of 2022. That was down 15.6 percent from 1,116,939 in the second quarter – the fourth drop in the last five quarters. It also was down 32.7 percent from 1,401,578 in the third quarter of 2021 – the biggest annual decline this century. The $353.9 billion dollar volume of purchase loans in the third quarter of 2022 was down 18.9 percent from $436.2 billion in the prior quarter and down 28.4 percent from $494 billion a year earlier. Residential purchase-mortgage originations decreased from the second quarter of 2022 to the third quarter of 2022 in 173 of the 210 metro areas in the report (82 percent) and dipped annually in 206 metro areas (98 percent). The largest quarterly decreases were in Myrtle Beach, SC (purchase loans down 50.8 percent); Ogden, UT (down 47.6 percent); Naples, FL (down 41.8 percent); Charleston, SC (down 41.3 percent) and Knoxville, TN (down 40.1 percent). Metro areas with a population of at least 1 million that saw the biggest quarterly decreases in purchase originations in the third quarter of 2022 were St. Louis, MO (down 30.3 percent); San Jose, CA (down 30.3 percent); San Francisco, CA (down 29.3 percent); Los Angeles, CA (down 28.6 percent) and Miami, FL (down 28.5 percent). Residential purchase-mortgage lending increased most from the second quarter to the third quarter of 2022 in Syracuse, NY (up 24.9 percent); Claremont-Lebanon, NH (up 24.3 percent); Rochester, NY (up 20 percent); Dayton, OH (up 18.9 percent) and Kalamazoo, MI (up 15.7 percent). Aside from Rochester, metro areas with a population of at least 1 million where purchase originations rose most from the second to the third quarter were Minneapolis, MN (up 11.9 percent); Hartford, CT (up 6.1 percent); Grand Rapids, MI (up 5.2 percent) and Pittsburgh, PA (up 0.5 percent). HELOC lending up for fifth time in six quarters A total of 364,921 home-equity lines of credit (HELOCs) were originated on residential properties in the third quarter of 2022, up 5.1 percent from 347,086 in the prior quarter and up 47.8 percent from 246,957 in the third quarter of 2021. HELOC activity increased for the fifth time in six quarters after it had decreased in each of the prior six quarters. The $70.5 billion third-quarter 2022 volume of HELOC loans was up 4.7 percent from $67.3 billion in the second quarter of 2022 and 47.5 percent from $47.8 billion in the third quarter of last year, hitting the highest point in four years. HELOCs comprised 18.5 percent of all third-quarter 2022 loans – almost four times the 4.8 percent level from the first quarter of 2021. "While HELOC activity has dramatically increased over the past few quarters, its growth rate slowed down significantly on a quarter-to-quarter basis, which raises the question of whether we might be at or near a cyclical peak in HELOC activity," Sharga added. "Even with the recent increases, HELOC volume is still nowhere near the record level of activity we saw in the mid-2000s during the run-up to the financial crisis." The largest increases in metro areas with a population of at least 1 million were in New Orleans, LA (home-equity loans up 52.8 percent); Houston, TX (up 47.5 percent); Dallas, TX (up 35.4 percent); Tucson, AZ (up 32.8 percent); and Atlanta, GA (up 30.9 percent). The largest quarterly decreases in HELOCs among metro areas with a population of at least 1 million were in Buffalo, NY (down 31.9 percent); St. Louis, MO (down 26.7 percent); Honolulu, HI (down 14.5 percent); San Jose, CA (down 10.9 percent) and Rochester, NY (down 9.1 percent). FHA and VA loan portions tick upward Mortgages backed by the Federal Housing Administration (FHA) rose as a portion of all lending for the fourth straight quarter, accounting for 224,021, or 11.4 percent, of all residential property loans originated in the third quarter of 2022. That was up from 10.7 percent in the second quarter of 2022 and 9.3 percent in the third quarter of 2021. Residential loans backed by the U.S. Department of Veterans Affairs (VA) accounted for 103,314 or 5.2 percent, of all residential property loans originated in the third quarter of 2022. That was up from 5.1 percent in the previous quarter but still down from 6.3 percent a year earlier. VA lending as a portion of all loans rose after seven consecutive quarterly declines. Typical amount borrowed to finance purchase decreases to three-year low The median amount borrowed nationwide to buy a home went down in the third quarter of 2022 for the first time in three years, while the typical down payment on homes purchased with financing also decreased. At the same time, the ratio of median down payments to home prices went down. Among homes purchased with financing in the third quarter of 2022, the median loan amount was $315,000. That was down 4.5 percent from $330,000 the prior quarter, following 10 straight increases. However, it was still up 4.2 percent from $302,197 in the same period in 2021. The median down payment on single-family homes and condos purchased with financing in the third quarter of 2022 decreased to $34,975, down 12.5 percent from $39,980 in the previous quarter, although still up 11.9 percent from $31,250 in the third quarter of 2021. The typical down payment in the third quarter of this year represented 9.3 percent of the purchase price, down from 10.2 percent in the prior quarter but still up from 8.9 percent a year earlier. Report methodology ATTOM analyzed recorded mortgage and deed of trust data for single-family homes, condos, town homes and multi-family properties of two to four units for this report. Each recorded mortgage or deed of trust was counted as a separate loan origination. Dollar volume was calculated by multiplying the total number of loan originations by the average loan amount for those loan originations. About ATTOM ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, property reports and more. Also, introducing our newest innovative solution, that offers immediate access and streamlines data management – ATTOM Cloud.

Own Up and Realtor.com Join Forces to Streamline the Home Buying Process
Relationship designed to increase consumer confidence throughout the homebuying journey BOSTON, Aug. 31, 2022 -- Own Up, a digital mortgage shopping service, today announced a commercial relationship with Realtor.com, a real estate marketplace operated by News Corp's subsidiary, Move, Inc. Own Up and Realtor.com are mission-aligned companies, both aiming to improve the home buying process for Americans looking to close on their dream homes. Alongside this new collaboration, Own Up closed a $25M round of funding, led by Brand Foundry Ventures. Realtor.com is among the investors participating in the funding round, which also saw return participation from past investors, Link Ventures and Listen Ventures. The injection of capital will allow Own Up to continue to build out its innovative technology platform, expand its novel shopping experience and product offerings, and invest in the Company's people and culture. Own Up and Realtor.com's relationship will give users direct access to Own Up's mortgage shopping service, including personalized loan offers from its exclusive lender marketplace and real-time advice from the industry's only mortgage shopping concierge. The integration with Realtor.com will allow homebuyers to gather detailed information about their home financing options as they search listings and find real estate agents. The housing market has been increasingly challenging for buyers over the past 12 months, with low inventory, rising prices, higher mortgage interest rates, and high-stakes bidding wars. That has caused heightened stress and anxiety for hopeful buyers, an issue Own Up and Realtor.com hope to work together to address. "From day one, our singular goal was to be a champion for the consumer and bring greater transparency to the home buying process. As the mortgage industry continues to see changes at a rapid clip, it's crucial that consumers are armed with the right information to make the best financial decisions," said Patrick Boyaggi, CEO and co-founder of Own Up. "Realtor.com plays an essential role in the home search process for so many Americans and now we'll be able to provide mortgage education and tools to comparison shop, boosting buyer confidence as they move through the process." "Own Up's team brings deep mortgage expertise to the Realtor.com online experience," said Realtor.com CFO Bryan Charap. "This relationship is a natural fit; together we're able to expand upon our shared goal of helping Americans find and close on their dream homes." "The housing market is at an inflection point, marked by a lack of inventory and a historic rise in interest rates, and Own Up is uniquely positioned to help consumers navigate one of the most tumultuous components," said Brian Spaly, General Partner at Brand Foundry Ventures. "This next phase of growth will further cement Own Up's position as the mortgage shopping experts, ensuring no borrower overpays on their mortgage. At this time of inflation and a pending recession, cost-savings has never been more important." For more information on Own Up's mortgage marketplace, visit www.ownup.com. About Own Up Founded in 2016, Own Up is changing the way Americans shop for and secure mortgages, injecting transparency into an opaque process and empowering consumers to make smart financial decisions with the help of intelligent technology and real human advisors. NMLS #: 1450805. About Realtor.com® Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp subsidiary Move, Inc. For more information, visit Realtor.com. About Brand Foundry Ventures Brand Foundry Ventures (BFV) is an early-stage venture capital firm investing in the next generation of companies that are essential to today's consumer.

Home buyers with lower credit scores pay an extra $104,000 in mortgage costs
A borrower with a "fair" credit score could pay $103,626 more over the life of a 30-year mortgage for the same home than an otherwise identical borrower with an "excellent" score would SEATTLE, July 28, 2022 -- Elevated home prices and rising interest rates are feeding into housing affordability woes for potential buyers, especially those with lower credit scores. A new Zillow analysis shows that, nationally, buyers with "fair" credit could be paying up to $288 more on their monthly mortgage payment than those with "excellent" credit. A buyer’s credit profile plays an important role in how much a home ultimately costs. Today's home shoppers can expect to pay around 62% more per month to buy a typically priced U.S. home than they would have a year ago. Zillow examined credit scores against current mortgage rates and found that such monthly cost increases are exacerbated for millions of Americans with low credit scores or less than perfect credit histories. A borrower with an "excellent" credit score — between 760 and 850 — can qualify for a 30-year fixed-rate mortgage with a 5.099% interest rate. For the same loan, a similar borrower with a "fair" credit score — between 620 and 639 — qualifies for a 6.688% rate. This equates to a $288 difference in monthly mortgage payments and nearly $103,626 in interest over the life of a 30-year fixed loan, based on the current price of a typical U.S. home ($354,165). "When you are thinking about buying a home, the best first step you can take is to fully understand your financial picture, what you can afford and your outstanding debts or obligations," said Libby Cooper, Zillow Home Loans vice president. "If you find you have low credit, take realistic steps to improve your credit score by doing things like disputing possible report errors and paying down as much debt as possible. This could increase the amount of home loan you qualify for." The chart below illustrates how a buyer's credit profile plays an important role in how much a home ultimately costs. Buyers who make raising their credit score part of their initial steps in the home-buying process typically have more buying power and lower monthly payments. The cost of buying a typically priced U.S. home based on credit scores There is a direct correlation between credit security — having a strong credit history and structural access to credit offerings — and higher homeownership rates. The homeownership rate is lower in counties that are more "credit insecure," meaning they are home to high numbers of residents with poor or no credit history. That cuts off millions — particularly Black and Latinx residents — from the wealth-building advantages of homeownership. Additionally, Black applicants are denied a mortgage at a rate 84% higher than white applicants, and credit history is the most common reason cited for those denials. Limited traditional financial services in Black and other communities of color are a significant factor in the lack of credit history and the inability to build a high credit score. Fannie Mae and Freddie Mac recently adopted policies that include timely rent payments in their automated underwriting systems. Lenders and brokers can submit bank account data (with borrower permission) to identify 12 months of prompt rent payments to help potential borrowers qualify for a mortgage. "While inclusion of timely rent payments doesn't change a borrower's credit score, it can have a positive impact on how lenders view a borrower's credit worthiness. This move shows how effective policy changes can help consumers build a strong financial foundation that unlocks homeownership," said Cooper. About Zillow Group Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life's next chapter. As the most visited real estate website in the United States, Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting or financing with transparency and ease. Zillow Group's affiliates and subsidiaries include Zillow®, Zillow Offers®, Zillow Premier Agent®, Zillow Home Loans™, Zillow Closing Services™, Zillow Homes, Inc., Trulia®, Out East®, ShowingTime®, Bridge Interactive®, dotloop®, StreetEasy® and HotPads®. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org).

Down Payment Resource analysis finds that 33% of declined mortgage applications are declined for reasons addressable with homebuyer assistance
Analysis highlights profound opportunity to improve homeownership accessibility with homebuyer assistance programs ATLANTA, Ga., June 7, 2022 -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced findings from an analysis showing that a substantial share of mortgage loan applications are both declined for reasons that can be addressed with homebuyer assistance and eligible for homebuyer assistance programs. Methodology Findings were derived by analyzing HMDA data for tens of thousands of declined purchase mortgage loan applications representing $3.7 billion in volume furnished by mortgage lenders. Loan applications declined for either insufficient cash-to-close or disqualifying debt-to-income (DTI) ratios were categorized as potentially recoverable with homebuyer assistance. Homebuyer assistance eligibility for this group of applications was determined by running loan application data — including location, home price, loan amount, income and homeownership history — through the DOWN PAYMENT RESOURCE® database. Matching assistance programs were then applied to each loan to determine how applying homebuyer assistance to eligible declined loan files would have impacted loan-to-value (LTV) ratios. Key Findings Key findings are as follows: A large share of declined loan files were eligible for homebuyer assistance. 33% of all declined purchase mortgage loan applications were declined for either insufficient cash-to-close or disqualifying DTI ratios and also eligible for homebuyer assistance at the time of declination. The large share of loans potentially recoverable with homebuyer assistance highlights a significant, low-cost opportunity for lenders to increase purchase volume. Declined loan applications were typically eligible for multiple programs. On average, declined loan applications were eligible for 10 homebuyer assistance programs, indicating there are often multiple options available to homebuyers financing with homebuyer assistance. Many declined loans could have been recovered with homebuyer assistance. Applying homebuyer assistance to eligible declined loan applications would have reduced LTV by an average of 5.85%, making many of the loan applications recoverable. Lowering LTV can open the door to better and more affordable first mortgage scenarios, including conventional (rather than FHA) financing, reduced mortgage insurance costs and better interest rates. "In light of National Homeownership Month and the state of the housing market, it is important for the mortgage industry to reflect on ways it can improve financing outcomes for homebuyers," said DPR CEO Rob Chrane. "Our analysis definitively shows that homebuyer assistance programs are the most promising pathway to homeownership for a sizable share of the homebuyer population. Yet, homebuyer assistance programs are seldom offered as an option. It is my hope that this information will help lenders better serve their communities by showing that qualified homebuyers who need down payment assistance are not a niche market, but a major market that continues to grow." About Down Payment Resource Down Payment Resource (DPR) is a nationwide database of down payment assistance and affordable lending programs. The company tracks funding status, eligibility rules, benefits and more for approximately 2,200 programs in 11 categories. Its award-winning technology helps the housing industry connect more homebuyers to the down payment help they need. DPR has been recognized by Inman News as "Most Innovative New Technology" and the HousingWire Tech100™. DPR is licensed to Multiple Listing Services, Realtor Associations, lenders and housing counselors across the country. DPR's subscription-based service, Down Payment Connect, helps agents and loan officers match buyers to available programs. For more information, please visit downpaymentresource.com.

Average Closing Costs for Purchase Mortgages Increased 13.4% in 2021, CoreLogic's ClosingCorp Reports
The Eastern region of the U.S. had the highest average closing costs in 2021, with Washington, D.C. topping the list at $29,888 Irvine, Calif., April 21, 2022 -- CoreLogic's ClosingCorp, a leading provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, today released its most recent Purchase Mortgage Closing Cost Report which showed that in 2021, the national average for mortgage closing costs for a single-family property were $6,905 including transfer taxes and $3,860 excluding transfer taxes. These amounts represent a 13.4% and 11.2% year-over-year increase, respectively. Key Takeaways: The average U.S. home price increased by more than $50,000 last year, while the average purchase closing costs increased by $818 including taxes and $390 excluding taxes. Despite an increase in the absolute dollar amounts of closing fees, closing costs as a percentage of home sales prices were down slightly from 2020. Average purchase fees as a percentage of the average sales price in 2021 were 1.81% compared to 1.85% in 2020 and when taxes are excluded, were 1.01%, down from 1.06% in 2020. "As the mortgage industry comes off two years of record-low interest rates and red-hot consumer demand, lenders are now pivoting to address increasing headwinds from higher loan origination costs and lower origination volumes," said Bob Jennings, executive, CoreLogic Underwriting Solutions. "The Mortgage Bankers Association recently reported lender origination costs show a 13.2% year-over-year increase, which corresponds closely to the 13.4% increase we are seeing on purchase mortgage closing costs. As the market tightens in 2022, it will be interesting to see how lenders and borrowers respond and how these key metrics move." State and Metro Takeaways: The 2021 report shows the states with the highest average closing costs, including transfer taxes, were Washington, D.C. ($29,888), Delaware ($17,859), New York ($16,849), Maryland ($14,721) and Washington ($13,927). The states with the lowest closing costs, including taxes, were Missouri ($2,061), Indiana ($2,200), North Dakota ($2,501), Wyoming ($2,589) and Mississippi ($2,756). The most significant drivers to differences in closing costs were the types and percentages of imposed specialty and transfer taxes. The states with the highest average closing costs, excluding taxes, were Washington, D.C. ($6,502), New York ($6,168), Hawaii ($5,879), California ($5,665) and Massachusetts ($4,904). The states with the lowest closing costs, excluding taxes, were Missouri ($2,061), Indiana ($2,200), Nebraska ($2,210), Arkansas ($2,281) and West Virginia ($2,465). At the metro level, those with the highest average fees with taxes were primarily in the Eastern region of the United States including Vineyard Haven, Massachusetts ($28,724); Bremerton-Silverdale-Port Orchard, Washington ($16,003) and Salisbury, Maryland ($15,723). Comparatively, metros with highest average fees without taxes were in Santa Maria-Santa Barbara, California ($7,063); Kahului-Wailuku-Lahaina, Hawaii ($7,016) and San Jose-Sunnyvale-Santa Clara, California ($6,412). Cost calculations include the lender's title policy, owner's title policy, appraisal, settlement, recording fees, land surveys and transfer tax. The calculations use home price data from CoreLogic to estimate closing costs for an average home at the state, core-based statistical area (CBSA) and county levels. Ranges, rather than single values, are used to more accurately capture fees associated with the real transactions. On May 5, 2022, CoreLogic's ClosingCorp will be releasing the annual 2021 Refinance Mortgage Closing Cost Report. Source: CoreLogic, Inc. © 2022 CoreLogic,Inc., All rights reserved. Source: CoreLogic, Inc. © 2022 CoreLogic,Inc., All rights reserved. Source: CoreLogic, Inc. © 2022 CoreLogic,Inc., All rights reserved. Source: CoreLogic, Inc. © 2022 CoreLogic,Inc., All rights reserved. Source: CoreLogic, Inc. © 2022 CoreLogic, Inc., All rights reserved. Methodology CoreLogic's ClosingCorp average closing costs are defined as the average fees and transfer taxes required to close a conventional purchase transaction in a geographical area. These costs consist of fees from the following service types: title policies (both owners and lenders), appraisals, settlement fees, recording fees, land surveys and transfer tax. Actual closing fees for 4.4 million single-family home purchases from January 1 through December 31, 2021 were analyzed. Homes within a $100,000 range of the average home price (source CoreLogic) were used to estimate closing costs for an average single family residential home at the state, core-based statistical area (CBSA) and county levels. The average service type component fee was computed for every geographical area where at least 10 transactions occurred in the specified range during the period under review. Total cost to close was then computed as the sum of the service type averages. Land survey fees only were included for Florida and Texas single-family homes where land surveys are required. Cost to close was computed with and without transfer taxes. About CoreLogic CoreLogic, a leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy and protect their homes. For more information, please visit www.corelogic.com.

Mortgage Lending Declines Aat Unusually Fast Pace Across U.S. During Third Quarter of 2021
Overall Loan Activity Down 8 Percent, Marking Second Straight Quarterly Decrease; Mortgage Lending Down in Both Second and Third Quarters for First Time This Century; Refinance Mortgages Drop 13 Percent Quarterly, Purchase Loans Off 2 Percent IRVINE, Calif. - Dec. 2, 2021 -- ATTOM, curator of the nation's premier property database, today released its third-quarter 2021 U.S. Residential Property Mortgage Origination Report, which shows that 3.59 million mortgages secured by residential property (1 to 4 units) were originated in the third quarter of 2021 in the United States. That figure was up 3 percent from the third quarter of 2020, but down 8 percent from the second quarter of 2021 – the largest quarterly dip in over a year. The quarterly decline also was the second in a row and pointed to two unusual patterns developing in the lending industry. It marked the first time in more than two years that total lending decreased in two consecutive quarters. More notably, it was the first time in any year since at least 2000 that lending activity declined in both the second and third quarters, which usually are peak buying seasons. That pattern emerged amid declines in both refinance and purchase lending which more than made up for a bump up in home-equity lines of credit. Overall, with average interest rates remaining below 3 percent for 30-year home loans, lenders issued $1.15 trillion worth of mortgages in the third quarter of 2021. That was up annually by 11 percent, but down quarterly by 6 percent. The quarterly decrease in the dollar volume of loans was the first since the early part of 2020. On the refinance side, 1.99 million home loans were rolled over into new mortgages during the third quarter of 2021, a figure that was down 13 percent from the second quarter and down 3 percent from a year earlier. The total number of refinance mortgages has declined for the second straight quarter, while the quarterly decrease was the largest in three years. The dollar volume of refinance loans was down 10 percent from the second quarter of 2021, to $624.1 billion, although still up annually by 1 percent. Refinance mortgages remained a majority of all residential lending activity during the third quarter of 2021. But that portion dipped to 55 percent, down from 59 percent in both the second quarter of 2021 and the third quarter of 2020. The number of purchase loans also declined in the third quarter of 2021 as lenders issued 1.36 million mortgages to buyers. That was down 2 percent quarterly, although still up annually by 17 percent. The dollar value of loans taken out to buy property dipped to $482.6 billion, down 1 percent from the second quarter of this year but still up 30 percent from the third quarter of 2020. Home-equity lending, meanwhile, rose for the second straight quarter, which last happened in mid-2019. The tally of home-equity lines of credit, while down annually by 9 percent, rose 2 percent between the second and third quarters of 2021, to about 238,500. The continued dip in total loan activity during the third quarter represented a growing sign that the nation's appetite for new home loans is easing – and that the nation's decade-long housing market boom could even be cooling off. The latest trends have reversed patterns seen from early 2019 through early 2021, when total lending activity nearly tripled amid various forces that pushed a frenzy of refinancing and purchasing. That surge came as interest rates dropped to historic lows and the Coronavirus pandemic which hit early last year spurred a rush of home buying among households looking for larger spaces and the perceived safety offered by a house and yard. That spike in buying has driven home prices to record highs. "The overflow stack of work that was hitting lenders for several years shrank again in the third quarter across the U.S. amid a few emerging trends," said Todd Teta, chief product officer at ATTOM. "It looks more and more like homeowner's voracious appetites for refinance deals has eased notably, while purchase lending also dipped. It's still too early to say if the trends point to major shifts in lending patterns or the broader housing market boom. But the drop-off is significant, especially for home buying, which could suggest an impending housing market slowdown. We will be watching the lending trends extra closely in the coming months." Total mortgages drop for second straight quarter in a pattern not seen this century Banks and other lenders issued 3,591,794 residential mortgages in the third quarter of 2021. That was down 8.4 percent from 3,922,248 in second quarter of 2021, although still up 3.2 percent from 3,479,655 in the third quarter of 2020. The quarterly decrease was the second in a row, which had not happened since a period running from late 2018 into early 2019. It also stood out as the first time since at least 2000 that total lending activity went down from both the first to the second quarter and from the second to the third quarter of any year. The $1.15 trillion dollar volume of all loans in the third quarter remained up 10.7 percent from $1.04 trillion a year earlier, but was down 6 percent from $1.23 trillion in the second quarter of 2021. Overall lending activity decreased from the second quarter of 2021 to the third quarter of 2021 in 186, or 86 percent, of the 216 metropolitan statistical areas around the country with a population greater than 200,000 and at least 1,000 total loans in the third quarter. Total lending activity was down at least 5 percent in 126 metros (58 percent). The largest quarterly decreases were in Pittsburgh, PA (down 52.3 percent); Charleston, SC (down 48.2 percent); Myrtle Beach, SC (down 46.8 percent); Provo, UT (down 39.5 percent) and Peoria, IL (down 33.9 percent). Aside from Pittsburgh, metro areas with a population of least 1 million that had the biggest decreases in total loans from the second quarter to the third quarter of 2021 were Buffalo, NY (down 29.8 percent); Baltimore, MD (down 20.9 percent); New Orleans, LA (down 20.4 percent) and Atlanta, GA (down 17.5 percent). Metro areas with the biggest increases in the total number of mortgages from the second to the third quarter of 2021 were Ann Arbor, MI (up 122.7 percent); Des Moines, IA (up 70.5 percent); Sioux Falls, SD (up 51.5 percent); Yakima, WA (up 31.4 percent) and Dayton, OH (up 30.6 percent). The only metro areas with a population of at least 1 million and an increase in total mortgages from the second quarter to the third quarter of 2021 were Jacksonville, FL (up 5.5 percent); Memphis, TN (up 4.3 percent) and Columbus, OH (up 2.7 percent). Refinance mortgage originations down 13 percent from second quarter Lenders issued 1,993,407 residential refinance mortgages in the third quarter of 2021, down 13.4 percent from 2,301,654 in second quarter of 2021 and down 2.9 percent from 2,053,918 in the third quarter of last year. The total was down for the second straight quarter, which had not happened since late 2018 into early 2019, while the latest decrease was the largest since the first quarter of 2018. The $624.1 billion dollar volume of refinance packages in the third quarter of 2021 was down 10.1 percent from $694.3 billion in the prior quarter, while it remained up 1.4 percent from $615.6 billion in the third quarter of 2020. Refinancing activity decreased from the second quarter of 2021 to the third quarter of 2021 in 199, or 92 percent, of the 216 metropolitan statistical areas around the country with enough data to analyze. Activity dropped at least 10 percent in 121 metro areas (56 percent). The largest quarterly decreases were in Pittsburgh, PA (down 61.5 percent); Myrtle Beach, SC (down 54.7 percent); Charleston, SC (down 49.9 percent); Tuscaloosa, AL (down 48.8 percent) and Buffalo, NY (down 47.5 percent). Aside from Pittsburgh and Buffalo, metro areas with a population of least 1 million that had the biggest decreases in refinance activity from the second to the third quarter of 2021 were Rochester, NY (down 28.2 percent); Baltimore, MD (down 26.8 percent) and New York, NY (down 25.8 percent). Counter to the national trend, metro areas with the biggest increases in refinancing loans from the second quarter of 2021 to the third quarter of 2021 were Ann Arbor, MI (up 128.8 percent); Des Moines, IA (up 91.3 percent); Sioux Falls, SD (up 36.6 percent); Dayton, OH (up 13.4 percent) and Yakima, WA (up 9.9 percent). The only metro area with a population of at least 1 million where refinance mortgages increased from the second to the third quarter of 2021 was Jacksonville, FL (up 5.9 percent). Refinance lending still represents at least 50 percent of all loans in two-thirds of metros Refinance mortgages accounted for at least 50 percent of all loans in 151 (70 percent) of the 216 metro areas with sufficient data in the third quarter of 2021. But that was down from 83 percent in the second quarter of 2021 and 80 percent a year earlier. By the end of the third quarter, refinance mortgages took up a smaller portion of all loans issued in 174 (81 percent) of the metros analyzed. Metro areas with a population of at least 1 million where refinance loans represented the largest portion of all mortgages in the third quarter of 2021 were Atlanta, GA (72.2 of all mortgages); Detroit, MI (66.9 percent); Kansas City, MO (63.2 percent); New Orleans, LA (62.2 percent) and New York, NY (62.1 percent). Metro areas with a population of at least 1 million where refinance loans represented the smallest portion of all mortgages in the third quarter of 2021 were Rochester, NY (40.9 percent of all mortgages); Oklahoma City, OK (43.2 percent); Pittsburgh, PA (48.1 percent); Miami, FL (48.2 percent) and Cleveland, OH (48.6 percent). Purchase originations decrease 2 percent in third quarter Lenders originated 1,359,888 purchase mortgages in the third quarter of 2021. That was down 2 percent from 1,387,307 in the second quarter, although still up 16.8 percent from 1,163,790 in the third quarter of last year. The $482.6 billion dollar volume of purchase loans in the third quarter was down 0.7 percent from $486 billion in the prior quarter, but remained up 29.9 percent from $371.6 billion a year earlier. Residential purchase-mortgage originations decreased from the second to the third quarter of 2021 in 111 of the 216 metro areas in the report (51 percent). The largest quarterly decreases were in Jackson, MS (down 57.1 percent); Charleston, SC (down 43.8 percent); Provo, UT (down 43.6 percent); Pittsburgh, PA (down 42.2 percent) and Myrtle Beach, SC (down 38.4 percent). Aside from Pittsburgh, metro areas with a population of at least 1 million and the biggest quarterly decreases in purchase originations in the third quarter of 2021 were New Orleans, LA (down 21.4 percent); Atlanta, GA (down 18 percent); Austin, TX, (down 16.9 percent) and San Jose, CA (down 15.7 percent). Residential purchase-mortgage lending increased from the second quarter of 2021 to the third quarter of 2021 in 105 of the 216 metro areas in the report (49 percent). The largest increases were in Tuscaloosa, AL (up 553.7 percent); Ann Arbor, MI (up 120.6 percent); Yakima, WA (up 66.2 percent); Dayton, OH (up 63.3 percent) and Sioux Falls, SC (up 61.7 percent). Metro areas with a population of at least 1 million and the largest increases in purchase originations from the second to the third quarter of 2021 were Rochester, NY (up 50.4 percent); Buffalo, NY (up 37.4 percent); Philadelphia, PA (up 25.2 percent); Columbus, OH (up 24.5 percent) and Detroit, MI (up 20.1 percent). Metro areas with a population of at least 1 million where purchase loans represented the largest portion of all mortgages in the third quarter of 2021 were Oklahoma City, OK (51.9 percent of all mortgages); Miami, FL (46.7 percent); Las Vegas, NV (45 percent); Virginia Beach, VA (43.7 percent) and San Antonio, TX (41.9 percent). Metro areas with a population of at least 1 million where purchase loans represented the smallest portion of all mortgages in the third quarter of 2021 were Detroit, MI (25.8 percent of all mortgages); Salt Lake City, UT (26.9 percent); Atlanta, GA (27.4 percent); Kansas City, MO (29.2 percent) and Boston, MA (30.1 percent). HELOC lending up for second straight quarter A total of 238,499 home-equity lines of credit (HELOCs) were originated on residential properties in the third quarter of 2021, up 2.2 from 233,287 during the prior quarter, but still down 9 percent from 261,947 in the third quarter of 2020. HELOC activity rose for the second straight quarter – the first time that happened since the middle of 2019. The $46 billion third-quarter volume of HELOC loans, though, was still down 0.8 percent from the second quarter and down 15 percent from the third quarter of 2020. HELOC mortgage originations increased from the second to the third quarter of 2021 in 60 percent of metro areas analyzed for this report. The largest increases in metro areas with a population of at least 1 million were in Jacksonville, FL (up 45.6 percent); San Diego, CA (up 25.4 percent); Houston, TX (up 24.7 percent); Riverside, CA (up 23.1 percent) and Tucson, AZ (up 22.2 percent). The biggest quarterly decreases in HELOCs among metro areas with a population of at least 1 million were in Atlanta, GA (down 58.9 percent); Buffalo, NY (down 30.9 percent); Pittsburgh, PA (down 29.9 percent); Hartford, CT (down 29.3 percent) and New Orleans, LA (down 19.5 percent). FHA and VA loan shares inch down Mortgages backed by the Federal Housing Administration (FHA) accounted for 336,483, or 9.4 percent of all residential property loans originated in the third quarter of 2021. That was down slightly from 9.6 percent in the second quarter of 2020. It also was down from 10.5 percent in the third quarter of 2020. Residential loans backed by the U.S. Department of Veterans Affairs (VA) accounted for 229,456, or 6.4 percent, of all residential property loans originated in the third quarter of 2021, down from 6.9 percent in the previous quarter and 8.8 percent a year earlier. Median down payments and loan amounts rise again The national median down payment, the amount borrowed and the ratio of down payments to median home prices during the third quarter of 2021 again hit the highest levels since at least 2005. The median down payment on single-family homes purchased with financing in the third quarter of 2021 stood at $27,500, up 5.8 percent from $26,000 in the previous quarter and up 41 percent from $19,502 in the third quarter of 2020. The median down payment of $27,500 represented 8 percent of the nationwide median sales price for homes purchased with financing during the third quarter of 2021, up from 7.8 percent in the previous quarter and 6.5 percent a year earlier. Among homes purchased in the third quarter of 2021, the median loan amount was $295,954. That was up 2.8 percent from the prior quarter and up 13 percent from the same period last year. Report methodology ATTOM analyzed recorded mortgage and deed of trust data for single-family homes, condos, town homes and multi-family properties of two to four units for this report. Each recorded mortgage or deed of trust was counted as a separate loan origination. Dollar volume was calculated by multiplying the total number of loan originations by the average loan amount for those loan originations. About ATTOM ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 20TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, and more. Also, introducing our latest solution, that offers immediate access and streamlines data management – ATTOM Cloud.

Q3 2021 U.S. Foreclosure Activity Begins to See Significant Increases as Foreclosure Moratorium Is Lifted
Average Time to Foreclose Nationwide Increases 11 Percent From a Year Ago; U.S. Foreclosure Starts Increase 67 Percent From a Year Ago IRVINE, Calif. - Oct. 14, 2021 -- ATTOM, licensor of the nation's most comprehensive foreclosure data and parent company to RealtyTrac, the largest online marketplace for foreclosure and distressed properties, released its Q3 2021 U.S. Foreclosure Market Report, which shows there were a total of 45,517 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 34 percent from the previous quarter and 68 percent from a year ago. The report also shows there were a total of 19,609 U.S. properties with foreclosure filings in September 2021, up 24 percent from the previous month and up 102 percent from September 2020. "Despite the increased level of foreclosure activity in September, we're still far below historically normal numbers," said Rick Sharga, executive vice president at RealtyTrac, an ATTOM company. "September foreclosure actions were almost 70 percent lower than they were prior to the COVID-19 pandemic in September of 2019, and Q3 foreclosure activity was 60 percent lower than the same quarter that year. Even with similar increases in foreclosures over the next few months, we'll end the year significantly below what we'd see in a normal housing market." Foreclosure starts jump up nationwide Lenders started the foreclosure process on 25,209 U.S. properties in Q3 2021, up 32 percent from the previous quarter and up 67 percent from a year ago — the first double digit quarterly percent increase since 2014. States that posted the greatest number of foreclosure starts in Q3 2021, included California (3,434 foreclosure starts); Texas (2,827 foreclosure starts); Florida (2,546 foreclosure starts); New York (1,363 foreclosure starts); and Illinois (1,362 foreclosure starts). Among the 220 metropolitan statistical areas analyzed in the report those that posted the greatest number of foreclosure starts in Q3 2021, included New York, New York (1,456 foreclosure starts); Chicago, Illinois (1,122 foreclosure starts); Los Angeles, California (1,102 foreclosure starts); Miami, Florida (992 foreclosure starts); and Houston, Texas (866 foreclosure starts). Counter to the national trend of quarterly increases, among those metropolitan areas with a population greater than one million that saw a decline in foreclosure starts in Q3 2021 were Charlotte, North Carolina (down 32 percent); Portland, Oregon (down 26 percent); Rochester, New York (down 17 percent); San Jose, California (down 13 percent); and Hartford, Connecticut (down 6 percent). "So far the government and the mortgage industry have worked together to do an extraordinary job of preventing millions of unnecessary foreclosures using the foreclosure moratorium and mortgage forbearance program," Sharga added. "But there are hundreds of thousands of borrowers scheduled to exit forbearance in the next two months, and it's possible that we might see a higher percentage of those borrowers default on their loans." Highest foreclosure rates in Nevada, Illinois and Delaware Nationwide one in every 3,019 properties had a foreclosure filing in Q3 2021. States with the highest foreclosure rates in Q3 2021 were Nevada (one in every 1,463 housing units with a foreclosure filing); Illinois (one in every 1,465); Delaware (one in every 1,515); New Jersey (one in every 1,667); and Florida (one in every 1,743). Among 220 metropolitan statistical areas analyzed in the report, those with the highest foreclosure rates in Q3 2021 were Atlantic City, New Jersey (one in every 709 housing units with a foreclosure filing); Peoria, Illinois (one in every 754); Bakersfield, CA (one in every 923); Cleveland, Ohio (one in every 936); and Las Vegas, Nevada (one in every 1,167). Bank repossessions increase nationwide Lenders repossessed 7,574 U.S. properties through foreclosure (REO) in Q3 2021, up 22 percent from the previous quarter and up 46 percent from a year ago the first quarterly increase since Q1 2016. States that posted the largest number of completed foreclosures in Q3 2021, included Illinois (965 REOs); Florida (564 REOs); Pennsylvania (480 REOs); Michigan (401 REOs); and New York (370 REOs). Average time to foreclose increases 11 percent from last year Properties foreclosed in Q3 2021 had been in the foreclosure process an average of 924 days, up slightly from 922 days in the previous quarter but up 11 percent from 830 days in Q3 2020. States with the longest average foreclosure timelines for homes foreclosed in Q3 2021 were Hawaii (2,070 days); Nevada (1,989 days); Kansas (1,901 days); New York (1,659 days); and Washington (1,611 days). States with the shortest average foreclosure timelines for homes foreclosed in Q3 2021 were Montana (94 days); Wyoming (102 days); Mississippi (133 days); Missouri (213 days); and Virginia (272 days). September 2021 Foreclosure Activity High-Level Takeaways Nationwide in September 2021 one in every 7,008 properties had a foreclosure filing. States with the highest foreclosure rates in September 2021 were Florida (one in every 3,276 housing units with a foreclosure filing); Illinois (one in every 3,508 housing units); Delaware (one in every 3,834 housing units); Nevada (one in every 4,009 housing units); and New Jersey (one in every 4,487 housing units). 10,289 U.S. properties started the foreclosure process in September 2021, up 23 percent from the previous month and up 106 percent from a year ago. Lenders completed the foreclosure process on 2,682 U.S. properties in September 2021, up 8 percent from the previous month and up 33 percent from a year ago. U.S. Foreclosure Market Data by State – Q3 2021 Report Methodology The ATTOM U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the ATTOM Data Warehouse during the month and quarter. Some foreclosure filings entered into the database during the quarter may have been recorded in the previous quarter. Data is collected from more than 3,000 counties nationwide, and those counties account for more than 99 percent of the U.S. population. ATTOM's report incorporates documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). For the annual, midyear and quarterly reports, if more than one type of foreclosure document is received for a property during the timeframe, only the most recent filing is counted in the report. The annual, midyear, quarterly and monthly reports all check if the same type of document was filed against a property previously. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state where the property is located, the report does not count the property in the current year, quarter or month. About ATTOM ATTOM provides foreclosure data licenses that can power various enterprise industries including real estate, insurance, marketing, government, mortgage and more. ATTOM multi-sources from 3,000 counties property tax, deed, mortgage, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. About RealtyTrac (Powered by ATTOM's Property Data) RealtyTrac.com is the largest online marketplace for foreclosure and distressed properties, helping individual investors and real estate agents looking to gain a competitive edge in the distressed market. Realtytrac.com enables real estate professionals the ability to find, analyze and invest in residential properties.

Serious Improvement: CoreLogic Reports That in May, the U.S. Serious Delinquency Rate Fell to Lowest Level Since June 2020
Additionally, all US states and metro areas posted annual decreases in their overall delinquency rates IRVINE, Calif., August 10, 2021 -- CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for May 2021. For the month of May, 4.7% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 2.6-percentage point decrease in delinquency compared to May 2020, when it was 7.3%. However, overall delinquencies are above the early 2020, pre-pandemic rate of 3.5%. To gain an accurate view of the mortgage market and loan performance health, CoreLogic examines all stages of delinquency. In May 2021, the U.S. delinquency and transition rates, and their year-over-year changes, were as follows: Early-Stage Delinquencies (30 to 59 days past due): 1.2%, down from 3% in May 2020. Adverse Delinquency (60 to 89 days past due): 0.3%, down from 2.8% in May 2020. Serious Delinquency (90 days or more past due, including loans in foreclosure): 3.2%, up from 1.5% in May 2020. While still high, this is the lowest serious delinquency rate since an initial jump during the pandemic in June 2020. Foreclosure Inventory Rate (the share of mortgages in some stage of the foreclosure process): 0.3%, unchanged from May 2020. Transition Rate (the share of mortgages that transitioned from current to 30 days past due): 0.7%, down from 2.2% in May 2020. Many are concerned about a pending foreclosure crisis when government provisions lift. Fortunately, the average homeowner in forbearance has sizeable equity in their home, which has helped create an additional financial buffer for those struggling to make mortgage payments. Thanks to these strong equity gains, and the availability of loan modifications and federal resources, we expect most borrowers have had enough support to stave off a foreclosure wave. Additionally, a recent CoreLogic survey of mortgage holders reports 85% of respondents said they maintained employment through the pandemic, which has helped many homeowners avoid delinquency and prevented a broad-scale mortgage crisis. "The pandemic has created many challenges but, in the case of delinquencies, the impacts have been relatively muted thanks to numerous government support programs and the sharp snapback in economic activity over the past several quarters," said Frank Martell, president and CEO of CoreLogic. "Looking forward, we expect a robust economy and near-zero interest rates to hold delinquency levels at reasonable levels." "The rise in home prices has built a substantial home equity cushion for homeowners with a mortgage, reducing the risk of a foreclosure," said Dr. Frank Nothaft, chief economist at CoreLogic. "The CoreLogic Home Price Index recorded an annual increase of 17% in June. This price rise builds home equity. For most borrowers in forbearance, the equity gain means they'll still have some remaining — even if missed payments are added to their loan balance." State and Metro Takeaways: In May, all U.S. states and metro areas logged a decrease in annual overall delinquency rates, with New Jersey (down 4.8 percentage points), New York (down 4.2 percentage points) and Florida (down 4 percentage points) leading the pack with the largest state declines. The metros with the largest annual declines in overall delinquency rate also occurred in these states, in Miami (down 6.5 percentage points), Kingston, New York (down 5.5 percentage points) and Atlantic City, New Jersey (down 5.4 percentage points). Nevertheless, elevated overall delinquency rates remain in some metros, including Texas, (Odessa; Laredo), Arkansas (Pine Bluff) and New Jersey (Vineland). The next CoreLogic Loan Performance Insights Report will be released on September 14, 2021, featuring data for June 2021. For ongoing housing trends and data, visit the CoreLogic Intelligence Blog. Methodology The data in The CoreLogic LPI report represents foreclosure and delinquency activity reported through May 2021. The data in this report accounts for only first liens against a property and does not include secondary liens. The delinquency, transition and foreclosure rates are measured only against homes that have an outstanding mortgage. Homes without mortgage liens are not subject to foreclosure and are, therefore, excluded from the analysis. CoreLogic has approximately 75% coverage of U.S. foreclosure data. About the CoreLogic Consumer Housing Sentiment Study 3,000+ consumers were surveyed by CoreLogic via Qualtrics. The study is an annual pulse of U.S. housing market dynamics concentrated on consumers looking to purchase a home, consumers not looking to purchase a home, and current mortgage holder. The survey was conducted in April 2021 and hosted on Qualtrics. The survey has a sampling error of~3% at the total respondent level with a 95% confidence level. About CoreLogic CoreLogic, the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy and protect their homes. For more information, please visit www.corelogic.com.

U.S. Properties with Foreclosure Filings on the Rise as Pandemic Remains a Threat to Economy
11,673 U.S. Properties Received a Foreclosure Filing in October 2020, Up 20 Percent from Last Month; Foreclosure Rates Highest in South Carolina, Nebraska and Alabama; Foreclosure Starts Uptick Monthly in North Carolina, Ohio and Illinois IRVINE, Calif. - November 10, 2020 -- ATTOM Data Solutions, licensor of the nation's most comprehensive foreclosure data and parent company to RealtyTrac, a foreclosure listings portal, today released its October 2020 U.S. Foreclosure Market Report, which shows there were a total of 11,673 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in October 2020, up 20 percent from a month ago but down 79 percent from a year ago. "It's a little surprising to see foreclosure activity increasing in spite of the various foreclosure moratoria that are in place," said Rick Sharga, executive vice president of RealtyTrac, an ATTOM Data Solutions company. "It's likely that many of these properties were already in the early stages of default prior to the pandemic, or are vacant and abandoned, which makes them candidates for expedited foreclosure actions." South Carolina, Nebraska and Alabama post highest state foreclosure rates Nationwide one in every 11,683 housing units had a foreclosure filing in October 2020. States with the highest foreclosure rates were South Carolina (one in every 6,133 housing units with a foreclosure filing); Nebraska (one in every 6,246 housing units); Alabama (one in every 6,660 housing units); Louisiana (one in every 7,078 housing units); and Florida (one in every 7,208 housing units). Among the 220 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in October 2020 were Peoria, IL (one in every 1,543 housing units with a foreclosure filing); Champaign, IL (one in every 1,674 housing units); Beaumont, TX (one in every 1,880 housing units); Birmingham, AL (one in every 1,993 housing units); and Houma, LA (one in every 2,964 housing units). Those metropolitan areas with a population greater than 1 million that posted the worst foreclosure rates in October 2020, including Birmingham, AL, were Cleveland, OH (one in every 4,511 housing units); Jacksonville, FL (one in every 5,119 housing units); New Orleans, LA (one in every 6,397 housing units); and Miami, FL (one in every 6,794 housing units). Foreclosure starts increase monthly nationwide A total of 6,042 U.S. properties started the foreclosure process in October 2020, up 21 percent from last month but down 79 percent from a year ago. While foreclosure starts are down annually in many states across the nation, a few states did see annual increases in foreclosure starts in October 2020, including Idaho (up 109 percent) and Nebraska (up 56 percent). Those states that posted the greatest monthly increases and that had 200 or more foreclosure starts in October 2020, included North Carolina (up 294 percent); Ohio (up 74 percent); Illinois (up 30 percent); New York (up 24 percent); and South Carolina (up 18 percent). Among metropolitan areas with a population greater than 1 million, those with the greatest number of foreclosure starts in October 2020 were New York, NY (485 foreclosure starts); Chicago, IL (240 foreclosure starts); Los Angeles, CA (196 foreclosure starts); Miami, FL (151 foreclosure starts); and Houston, TX (143 foreclosure starts). "It's probably not a surprise that almost all of the metro areas where foreclosure activity increased on a month-over-month basis are also places where unemployment rates are higher than the national average, and in many cases have been hotspots of COVID-19 infections," Sharga noted. "Still, it's important to keep the numbers in context – even with these increases, overall foreclosure actions are still below last year's levels by about 80%." Bank repossessions see a 28 percent increase from last month Lenders foreclosed (REO) on a total of 2,577 U.S. properties in October 2020, up 28 percent from last month but down 81 percent from a year ago. States that posted the greatest number of completed foreclosures (REOs) in October 2020, included Alabama (268 REOs filed); Florida (261 REOs filed); California (194 REOs filed); Texas (186 REOs filed); and Pennsylvania (145 REOs filed). Among the metropolitan areas with a population greater than 1 million, those with the greatest number of REOs filed in October 2020, included Birmingham, AL (233 REOs filed); Philadelphia, PA (98 REOs filed); New York, NY (97 REOs filed); Chicago, IL (62 REOs filed); and Miami, FL (52 REOs filed). About ATTOM Data Solutions ATTOM Data Solutions provides foreclosure data licenses that can power various enterprise industries including real estate, insurance, marketing, government, mortgage and more. ATTOM multi-sources from 3,000 counties property tax, deed, mortgage, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. About RealtyTrac (Powered by ATTOM's Property Data) RealtyTrac.com is the premier foreclosure listing and search portal for investors and consumers looking to gain a competitive edge in the distressed market. Realtytrac.com grants access to insight that is typically only available to real estate professionals.

CoreLogic Reports U.S. Overall Delinquency Rate Lowest for a November in at Least 20 Years
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report. The report shows that nationally, 3.9% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in November 2019, representing a 0.1 percentage point decline in the overall delinquency rate compared with November 2018, when it was 4%. As of November 2019, the foreclosure inventory rate – which measures the share of mortgages in some stage of the foreclosure process – was 0.4%, unchanged from November 2018. The November 2019 foreclosure inventory rate tied the prior 12 months as the lowest for any month since at least January 1999. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To monitor mortgage performance comprehensively, CoreLogic examines all stages of delinquency, as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next. The rate for early-stage delinquencies – defined as 30 to 59 days past due – was 2% in November 2019, up from 1.9% in November 2018. The share of mortgages 60 to 89 days past due in October 2019 was 0.6%, down from 0.7% in November 2018. The serious delinquency rate – defined as 90 days or more past due, including loans in foreclosure – was 1.3% in November 2019, down from 1.5% in November 2018. The serious delinquency rate has remained consistent since April 2019. Since early-stage delinquencies can be volatile, CoreLogic also analyzes transition rates. The share of mortgages that transitioned from current to 30 days past due was 1% in November 2019, up from 0.8% in November 2018. By comparison, in January 2007, just before the start of the financial crisis, the current-to-30-day transition rate was 1.2%, while it peaked at 2% in November 2008. "Natural disasters often cause spikes in mortgage delinquencies that gradually recede," said Dr. Frank Nothaft, chief economist at CoreLogic. "The CoreLogic 2019 Natural Hazard Report revealed that delinquency rates in Panama City, Florida, nearly tripled in the immediate aftermath of Hurricane Michael in October 2018, but fell back to trend levels by late 2019." No states posted a year-over-year increase in the overall delinquency rate in November 2019. The states that logged the largest annual decreases included North Carolina (down 0.7 percentage points) and District of Columbia (down 0.5 percentage points). Four other states followed with annual decreases of 0.4 percentage points. In November 2019, 50 metropolitan areas recorded at least a small annual increase in overall delinquency rate. The largest annual increases were in the following metros: Pine Bluff, Arkansas (up 1.4 percentage points); Enid, Oklahoma (up 0.9 percentage points); Dalton, Georgia (up 0.6 percentage points); and Dubuque, Iowa (up 0.5 percentage points). While the nation's serious delinquency rate remains at a 14-year low, 23 metropolitan areas recorded small annual increases in their serious delinquency rates. Enid, Oklahoma, logged the highest annual gain (up 0.4 percentage points), followed by Dubuque, Iowa (up 0.2 percentage points); Hanford-Corcoran, California (up 0.2 percentage points); Panama City, Florida (up 0.2 percentage points) and Salisbury, Maryland-Delaware (up 0.2 percentage points). The remaining 18 metro areas each logged an annual increase of 0.1 percentage point. "Overall delinquency rates remain at 20-year lows spurred on by tight underwriting standards following the onset of the Great Recession, a robust and accelerating economic cycle over the past five years and the increasing underlying health of the housing economy," said Frank Martell, president and CEO of CoreLogic. "In the Southeast, the 2018 hurricane season left higher overall delinquency rates in its wake, but the region is finally on the mend. In the Midwest, we see a somewhat different picture. Of the 50 metro areas that experienced increases in overall delinquency rates in November, nearly half were in the Midwest. Still, as mortgage rates reach a three-year low, we could expect to see stabilization across markets heading into 2020." The next CoreLogic Loan Performance Insights Report will be released on March 10, 2020, featuring data for December 2019. For ongoing housing trends and data, visit the CoreLogic Insights Blog: www.corelogic.com/insights. About CoreLogic CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.

CoreLogic Reports U.S. Overall Delinquency Rate Lowest for an October in at Least 20 Years
No states posted an annual gain in overall delinquency rate in October CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report. The report shows that nationally, 3.7% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in October 2019, representing a 0.4 percentage point decline in the overall delinquency rate compared with October 2018, when it was 4.1%. As of October 2019, the foreclosure inventory rate – which measures the share of mortgages in some stage of the foreclosure process – was 0.4%, down 0.1 percentage points from October 2018. The October 2019 foreclosure inventory rate tied the prior 11 months as the lowest for any month since at least January 1999. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To monitor mortgage performance comprehensively, CoreLogic examines all stages of delinquency, as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next. The rate for early-stage delinquencies – defined as 30 to 59 days past due – was 1.8% in October 2019, down from 1.9% in October 2018. The share of mortgages 60 to 89 days past due in October 2019 was 0.6%, down from 0.7% in October 2018. The serious delinquency rate – defined as 90 days or more past due, including loans in foreclosure – was 1.3% in October 2019, down from 1.5% in October 2018. The serious delinquency rate has remained consistent since April 2019. Since early-stage delinquencies can be volatile, CoreLogic also analyzes transition rates. The share of mortgages that transitioned from current to 30 days past due was 0.7% in October 2019, unchanged from October 2018. By comparison, in January 2007, just before the start of the financial crisis, the current-to-30-day transition rate was 1.2%, while it peaked at 2% in November 2008. "Home price growth builds homeowner equity and reduces the likelihood of a loan entering foreclosure," said Dr. Frank Nothaft, chief economist at CoreLogic. "The national CoreLogic Home Price Index recorded a 3.3% annual rise in values through October 2019, and price growth was the primary driver of the $5,300 average gain in equity reported in the latest CoreLogic Home Equity Report." No states posted a year-over-year increase in the overall delinquency rate in October 2019. The states that logged the largest annual decreases included North Carolina (down 0.9 percentage points) and Mississippi (down 0.8 percentage points). Eight other states followed with annual decreases of 0.6 percentage points. In October 2019, eight metropolitan areas in the Midwest and South recorded small annual increases in overall delinquency rates. The largest annual increases in October 2019 were in the following metros: Pine Bluff, Arkansas (1.0 percentage points); Dubuque, Iowa (0.2 percentage points) and Rockford, Illinois (0.2 percentage points). Five other metros were up 0.1 percentage points: Columbus, Indiana; Kokomo, Indiana; Manhattan, Kansas; Oshkosh-Neenah, Wisconsin and La Crosse-Onalaska, Wisconsin-Minnesota. While the nation's serious delinquency rate remains at a 14-year low, 14 metropolitan areas recorded small annual increases in their serious delinquency rates. Metros with the largest increases were Panama City, Florida (0.4 percentage points) and Dubuque, Iowa (0.2 percentage points). The remaining 12 metro areas each logged an annual increase of 0.1 percentage point. "National foreclosure and serious delinquency rates have remained fixed at record lows for at least the last six months," said Frank Martell, president and CEO of CoreLogic. "However, as markets can be much more volatile at the metro level, both late-stage delinquencies and foreclosures have continued to increase at this level in the Midwest and Southern regions of the country." The next CoreLogic Loan Performance Insights Report will be released on February 11, 2020, featuring data for November 2019. For ongoing housing trends and data, visit the CoreLogic Insights Blog. About CoreLogic CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.

CFPB Releases New Report Exploring Differences between Large and Small Mortgage Servicers
Washington, D.C. -- The Consumer Financial Protection Bureau released today a report examining the differences between large and small mortgage servicers. The report explores the role servicers of different sizes play in the mortgage market where size is defined by the number of loans serviced. Because of differences in the resources, capabilities, customer base, and business models of financial institutions of varying sizes, the impact of consumer finance regulations can vary as well. The report finds that smaller servicers, such as community banks and credit unions, play an outsize role in rural areas, that the loans they service are less likely to be sold to Fannie Mae or Freddie Mac or to be government-backed, and that during the financial crisis they experienced lower delinquencies. Key findings in the report include: 74 percent of borrowers with mortgages at small servicers said having a branch or office nearby was important in how they chose their mortgage lender, compared to 44 percent at large servicers; delinquency rates on loans at servicers of all sizes increased substantially starting in 2008, but peak delinquency rates were much lower for small servicers than for large and mid-sized servicers; and smaller servicers have a greater share of mortgages in non-metro or completely rural counties. A link to the report may be found here. The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, by consistently enforcing federal consumer financial law, and by empowering consumers to take more control over their economic lives. For more information, visit consumerfinance.gov.

CoreLogic Reports U.S. Overall Delinquency Rate Lowest for an August in at Least 20 Years but Five States Post Annual Gains
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report. The report shows that nationally, 3.7% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in August 2019, representing a 0.2 percentage point decline in the overall delinquency rate compared with August 2018, when it was 3.9%. As of August 2019, the foreclosure inventory rate – which measures the share of mortgages in some stage of the foreclosure process – was 0.4%, down 0.1 percentage points from August 2018. The August 2019 foreclosure inventory rate tied the prior nine months as the lowest for any month since at least January 1999. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To monitor mortgage performance comprehensively, CoreLogic examines all stages of delinquency, as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next. The rate for early-stage delinquencies – defined as 30 to 59 days past due – was 1.8% in August 2019, unchanged from August 2018. The share of mortgages 60 to 89 days past due in August 2019 was 0.6%, unchanged from August 2018. The serious delinquency rate – defined as 90 days or more past due, including loans in foreclosure – was 1.3% in August 2019, down from 1.5% in August 2018. This August's serious delinquency rate of 1.3% was the lowest for the month of August since 2005 when it was also 1.3%. The serious delinquency rate has remained consistent since April 2019. Since early-stage delinquencies can be volatile, CoreLogic also analyzes transition rates. The share of mortgages that transitioned from current to 30 days past due was 0.8% in August 2019, unchanged from August 2018. By comparison, in January 2007, just before the start of the financial crisis, the current-to-30-day transition rate was 1.2%, while it peaked at 2% in November 2008. "Job loss can trigger a loan delinquency, especially for families with limited savings," said Dr. Frank Nothaft, chief economist at CoreLogic. "The rise in overall delinquency in Iowa, Minnesota, Nebraska and Wisconsin coincided with a rise in state unemployment rates between August 2018 and August 2019." The nation's overall delinquency remains near the lowest level since at least 1999. However, five states posted small annual increases in overall delinquency rates in August: Iowa (0.2 percentage points), Minnesota (0.1 percentage points), Nebraska (0.1 percentage points), Wisconsin (0.1 percentage points) and Rhode Island (0.1 percentage points). In August 2019, 47 metropolitan areas recorded small annual increases in overall delinquency rates. Some of the highest gains were in the Midwest and Southeast. Metros with the largest increases were Dubuque, Iowa (2.2 percentage points), Pine Bluff, Arkansas (1.1 percentage points), Goldsboro, North Carolina (0.6 percentage points) and Panama City, Florida (0.5 percentage points). While the nation's serious delinquency rate remains near a record low, 19 metropolitan areas recorded small annual increases in their serious delinquency rates. Metros with the largest increases were Panama City, Florida (0.9 percentage points), Jacksonville, North Carolina (0.2 percentage points), Wilmington, North Carolina (0.2 percentage points) and Goldsboro, North Carolina (0.2 percentage points). The remaining 15 metro areas logged annual increases of 0.1 percentage point. "Delinquency rates are at 14-year lows, reflecting a decade of tight underwriting standards, the benefits of prolonged low interest rates and the improved balance sheets of many households across the country," said Frank Martell, president and CEO of CoreLogic. "Despite this month's near record-low serious delinquency rate, several metros in hurricane-ravaged areas of the Southeast have experienced higher delinquency rates of late. We expect to see these metros to return to pre-disaster delinquency rates over the next several months." The next CoreLogic Loan Performance Insights Report will be released on December 10, 2019, featuring data for September 2019. For ongoing housing trends and data, visit the CoreLogic Insights Blog. About CoreLogic CoreLogic, the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.

Q3 2019 Foreclosure Activity Down 19 Percent from Year Ago to Lowest Level Since Q2 2005
Average Time to Foreclose Increases 18 Percent From Last Year; Foreclosure Starts Down From Year Ago But Up in 30 Percent of Local Markets IRVINE, Calif. - Oct. 17, 2019 -- ATTOM Data Solutions, curator of the nation's premier property database and first property data provider of Data-as-a-Service (DaaS), today released its Q3 2019 U.S. Foreclosure Market Report, which shows there were a total of 143,105 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in the third quarter, down 6 percent from the previous quarter and down 19 percent from a year ago to the lowest level since Q2 2005 — a more than 13-year low. U.S. foreclosure activity in Q3 2019 was 49 percent below the pre-recession average of 278,912 properties with foreclosure filings per quarter between Q1 2006 and Q3 2007 — the 12th consecutive quarter where U.S. foreclosure activity has registered below the pre-recession average. "Foreclosure activity continues to decline across the country, which is a good sign that the housing market and the broader economy remain strong – and that the lending excesses that helped bring down the economy during the Great Recession remain a memory," said Todd Teta, chief product officer at ATTOM Data Solutions. "This is not to say that everything in the latest foreclosure picture is rosy. Some states have seen their foreclosure rates increase this year, which could cause some concern. But overall, the foreclosure numbers reflect a market in which buyers can afford their homes and lenders remain careful in loaning to home buyers who have little chance of repaying." Foreclosure starts down nationwide, up in 30 percent of local markets Lenders started the foreclosure process on 78,394 U.S. properties in Q3 2019, down 8 percent from the previous quarter and down 15 percent from a year ago — the 17th consecutive quarter with a year-over-year decrease in foreclosure starts. Counter to the national trend, 14 states posted year-over-year increases in foreclosure starts in Q3 2019, including Montana (up 33 percent); Georgia (up 32 percent); Washington (up 16 percent); Louisiana (up 15 percent); and Michigan (up 12 percent). Also counter to the national trend, 66 of 220 metropolitan statistical areas analyzed in the report (30 percent) posted a year-over-year increase in foreclosure starts in Q3 2019. Those markets with at least 1 million people that posted year-over-year increases included, Atlanta, Georgia (up 37 percent); Columbus, Ohio (up 27 percent); San Antonio, Texas (up 24 percent); Portland, Oregon (up 22 percent); and Tucson, Arizona (up 21 percent). Highest foreclosure rates in Delaware, New Jersey, Maryland Nationwide one in every 946 properties had a foreclosure filing in Q3 2019. States with the highest foreclosure rates in Q3 2019 were Delaware (one in every 415 housing units with a foreclosure filing); New Jersey (one in every 436); Maryland (one in every 500); Illinois (one in every 517); and Florida (one in every 577). Among 220 metropolitan statistical areas analyzed in the report, those with the highest foreclosure rates in Q3 2019 were Atlantic City, New Jersey (one in every 269 housing units with a foreclosure filing); Trenton, New Jersey (one in every 312); Rockford, Illinois (one in every 366); Fayetteville, North Carolina (one in every 369); and Peoria, Illinois (one in every 388). Bank repossessions see slight uptick from previous quarter Lenders repossessed 34,432 U.S. properties through foreclosure (REO) in Q3 2019, up 6 percent from the previous quarter but down 33 percent from a year ago. Counter to the national trend, 16 states posted quarter-over-quarter decreases in REO activity in Q3 2019, including Maryland (down 37 percent); Tennessee (down 19 percent); Delaware (down 16 percent); New Jersey (down 13 percent); and Arizona (down 11 percent). Average time to foreclose sees an uptick Properties foreclosed in Q3 2019 had been in the foreclosure process an average of 841 days, up from 716 days in the previous quarter and up from 713 days in Q3 2018 to the highest level since Q4 2017. States with the longest average foreclosure timelines for homes foreclosed in Q3 2018 were Indiana (1,633 days); Hawaii (1,626 days); Nevada (1,511 days); New Jersey (1,173 days); and Georgia (1,170 days). States with the shortest average foreclosure timelines for homes foreclosed in Q3 2018 were Virginia (201 days); Montana (217 days); Mississippi (229 days); Alaska (258 days); and Oregon (283 days). U.S. Foreclosure Market Data by State – Q3 2019 September 2019 Foreclosure Activity High-Level Takeaways Nationwide in September 2019 one in every 2,767 properties had a foreclosure filing States with the highest foreclosure rates in September 2019 were Delaware (one in every 1,170 housing units with a foreclosure filing); Maryland (one in every 1,270 housing units); Illinois (one in every 1,409 housing units); New Jersey (one in every 1,534 housing units); and Connecticut (one in every 1,997 housing units). 24,453 U.S. properties started the foreclosure process in September 2019, down 12 percent from the previous month and down 15 percent from a year ago. September 2019 marked the 8th consecutive month with a year-over-year decrease in foreclosure starts. Lenders completed the foreclosure process on 11,869 U.S. properties in September 2019, up 3 percent from the previous month and up 10 percent from a year ago. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, real estate market trends, marketing lists, match & append and introducing the first property data deliver solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).

CoreLogic Reports the Negative Equity Share Fell to 3.8% in the Second Quarter of 2019
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the Home Equity Report for the second quarter of 2019. The report shows that U.S. homeowners with mortgages (which account for roughly 63% of all properties) have seen their equity increase by 4.8% year over year, representing a gain of nearly $428 billion since the second quarter of 2018. The average homeowner gained $4,900 in home equity between the second quarter of 2018 and the second quarter of 2019. States that saw the largest gains include Idaho, where homeowners gained an average of $22,100; Wyoming, where homeowners gained an average of $20,400; and Nevada, where homeowners gained an average of $16,800 (Figure 1). From the first quarter of 2019 to the second quarter of 2019, the total number of mortgaged homes in negative equity decreased by 7% to 2 million homes or 3.8% of all mortgaged properties. The number of mortgaged properties in negative equity during the second quarter of 2019 fell by 9%, or 151,000 homes, compared with the second quarter of 2018 when 2.2 million homes, or 4.3% of all mortgaged properties, were in negative equity. "Borrower equity rose to an all-time high in the first half of 2019 and has more than doubled since the housing recovery started," said Dr. Frank Nothaft, chief economist for CoreLogic. "Combined with low mortgage rates, this rise in home equity supports spending on home improvements and may help improve balance sheets of households who could take out home equity loans to consolidate their debt." Negative equity, often referred to as being underwater or upside down, applies to borrowers who owe more on their mortgages than their homes are worth. Negative equity can occur because of a decline in a home's value, an increase in mortgage debt or both. Negative equity peaked at 26% of mortgaged residential properties in the fourth quarter of 2009, based on the CoreLogic equity data analysis, which began in the third quarter of 2009. The national aggregate value of negative equity was approximately $302.7 billion at the end of the second quarter of 2019. This is down quarter over quarter by approximately $2.6 billion, or 0.8%, from $305.3 billion in the first quarter of 2019 and up year over year by approximately $21 billion, or 7.5%, from $281.7 billion in the second quarter of 2018. "Home values have continued to rise in most parts of the country this year and we are seeing the benefit in higher home equity levels. The western half of the U.S. has experienced particularly strong gains in home equity recently," said Frank Martell, president and CEO of CoreLogic. "In July 2019, South Dakota and Connecticut were the only two states to post annual home price declines. These losses mirror the states' home equity performances during the second quarter as both reported negative home equity gains per borrower." For ongoing housing trends and data, visit the CoreLogic Insights Blog. About CoreLogic CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.

CoreLogic Reports Stark Contrast Between Rising Mortgage Delinquencies in Eight States while National Rate Remains at 20-Year Low
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report. The report shows that nationally 4% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in June 2019, representing a 0.3 percentage point decline in the overall delinquency rate compared with June 2018, when it was 4.3%. As of June 2019, the foreclosure inventory rate – which measures the share of mortgages in some stage of the foreclosure process – was 0.4%, down 0.1 percentage points from June 2018. The June 2019 foreclosure inventory rate tied the prior seven months as the lowest for any month since at least January 1999. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To monitor mortgage performance comprehensively, CoreLogic examines all stages of delinquency, as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next. The rate for early-stage delinquencies – defined as 30 to 59 days past due – was 2.1% in June 2019, up from 2% in June 2018. The share of mortgages 60 to 89 days past due in June 2019 was 0.6%, unchanged from June 2018. The serious delinquency rate – defined as 90 days or more past due, including loans in foreclosure – was 1.3% in June 2019, down from 1.7% in June 2018. June's serious delinquency rate of 1.3% was the lowest for the month of June since 2005 when it was also 1.3%; it tied the April and May 2019 rates as the lowest for any month since it was also 1.3% in August 2005. Since early-stage delinquencies can be volatile, CoreLogic also analyzes transition rates. The share of mortgages that transitioned from current to 30 days past due was 1.1% in June 2019, up from 0.9% in June 2018. By comparison, in January 2007, just before the start of the financial crisis, the current-to-30-day transition rate was 1.2% and peaked at 2% in November 2008. "A strong economy and eight-plus years of home price growth have made mortgage foreclosure an infrequent event," said Dr. Frank Nothaft, chief economist at CoreLogic. "This backdrop will help the mortgage market limit delinquencies in most of the country whenever a downturn should start." The nation's overall delinquency remains near the lowest level since at least 1999. However, several states and metropolitan areas posted small annual increases in June. The highest gains were in Vermont (+0.7%), New Hampshire (+0.3%), Nebraska (+0.2%) and Minnesota (0.2%), while the other four states – Michigan, Iowa, Wisconsin and Connecticut – experienced a nominal gain of just 0.1%. Some metropolitan areas also recorded small increases in overall delinquency rates. Metros with the largest increases were Janesville-Beloit, Wisconsin (+2.5 percentage points) and Pine Bluff, Arkansas (+1.6 percentage points). Panama City, Florida; Altoona, Pennsylvania; and Kokomo, Indiana all experienced increases of 0.6 percentage points. "While the nation continues to post near-record-low mortgage delinquency rates, we are seeing signs of emerging stress in some states," said Frank Martell, president and CEO of CoreLogic. "We saw rates jump in states such as Vermont, New Hampshire, Nebraska and Minnesota that weren't tied to a natural disaster." The next CoreLogic Loan Performance Insights Report will be released on October 8, 2019, featuring data for July 2019. For ongoing housing trends and data, visit the CoreLogic Insights Blog: www.corelogic.com/insights. About CoreLogic CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.

CoreLogic Reports U.S. Overall Delinquency Rate Remains Steady at 20-Year Low in May
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report. The report shows that nationally 3.6% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in May 2019, representing a 0.6 percentage point decline in the overall delinquency rate compared with May 2018, when it was 4.2%. This marks the second consecutive month the rate has been at its lowest point in more than 20 years. As of May 2019, the foreclosure inventory rate – which measures the share of mortgages in some stage of the foreclosure process – was 0.4%, down 0.1 percentage points from May 2018. The May 2019 foreclosure inventory rate tied the prior six months as the lowest for any month since at least January 1999. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To monitor mortgage performance comprehensively, CoreLogic examines all stages of delinquency, as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next. The rate for early-stage delinquencies – defined as 30 to 59 days past due – was 1.7% in May 2019, down from 1.8% in May 2018. The share of mortgages 60 to 89 days past due in May 2019 was 0.6%, unchanged from May 2018. The serious delinquency rate – defined as 90 days or more past due, including loans in foreclosure – was 1.3% in May 2019, down from 1.8% in May 2018. May's serious delinquency rate of 1.3% tied the April 2019 rate as the lowest for any month since August 2005 when it was also 1.3%. Since early-stage delinquencies can be volatile, CoreLogic also analyzes transition rates. The share of mortgages that transitioned from current to 30 days past due was 0.8% in May 2019, unchanged from May 2018. By comparison, in January 2007, just before the start of the financial crisis, the current-to-30-day transition rate was 1.2%, while it peaked in November 2008 at 2%. "Growth in family income and home prices continues to support low delinquency rates," said Dr. Frank Nothaft, chief economist at CoreLogic. "Communities that experienced a rise in delinquencies are generally those that also suffered from natural disasters. Last year's hurricanes and wildfires, and this spring's severe flooding from heavy rainstorms and snowmelt have pushed delinquency rates higher in these impacted communities." The nation's overall delinquency rate has fallen on a year-over-year basis for the past 17 consecutive months. In May 2019, 20 of the country's metropolitan areas posted at least a small annual increase in overall delinquency, with some of the highest gains occurring in the Midwest and parts of the Southeast. Specifically, areas impacted by flooding this spring in Kentucky, Ohio, Illinois and Indiana have experienced an increase in delinquency rates. "While the rest of the country experienced record-low mortgage delinquency rates again in May, the Midwest and parts of the Southeast are still experiencing higher rates as they recover from extreme weather," said Frank Martell, president and CEO of CoreLogic. "Areas in Kentucky and Ohio, which were hit particularly hard this spring with historic flooding, experienced some of the largest annual gains in the country." The next CoreLogic Loan Performance Insights Report will be released on September 10, 2019, featuring data for June 2019. For ongoing housing trends and data, visit the CoreLogic Insights Blog. About CoreLogic CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.

Industry data shows use of down payment assistance doubled in four years
Homeownership Program Index Reports Program Funding Down Nearly 3% While Down Payment Assistance Use Increases Atlanta, GA, July 25, 2019 – Atlanta-based Down Payment Resource, the nationwide database for homebuyer programs, today released its First and Second Quarter 2019 Homeownership Program Index (HPI). The number of total programs decreased to 2,516, down just 8 programs from the fourth quarter of 2018. Nearly 83 percent (82.9%) of programs currently have funds available for eligible homebuyers, down 2.9 percent from the previous index. Down Payment Resource (DPR) communicates with 1,248 program administrators to track and update the country's wide range of homeownership programs, including down payment and closing cost programs, Mortgage Credit Certificates, affordable first mortgages and more. HPI key facts 41% of homeownership programs do not have a first-time homebuyer requirement and are available for eligible repeat homebuyers. (First-time homebuyer is defined by HUD as someone who has not owned a home in three years.) 72.5% of programs are available in a specific local area, such as a city, county or neighborhood. 27.5% of programs are available statewide through state housing finance agencies. 22% of programs allow buyers to purchase a multi-family property as long as the buyer occupies one of the units. 8% of programs are available for community service workers, including educators, police officers, firefighters and healthcare workers. More than 6% (6.3%) of programs have benefits for veterans, members of the military and surviving spouses. These programs can also be layered with zero down payment VA loans. 72% of programs in the database are down payment or closing cost assistance. 9% of programs are first mortgages and 8% of programs are Mortgage Credit Certificates (MCCs). States with the greatest number of down payment programs remained consistent —California, Florida and Texas are the top three. View a complete list of state-by-state program data. Increase in share of programs without first-time homebuyer requirement A common myth about homeownership programs is that they are only available to first-time homebuyers. Since the last HPI, the share of programs without a first-time homebuyer requirement increased to 41%, up 2% from the previous HPI. This means more homeownership programs can serve repeat and move-up buyers. Most programs use HUD's definition of a first-time homebuyer — someone who has not owned a home in the past three years. Funded programs decreased, but more buyers accessed down payment help The HPI reports the share of funded programs decreased by nearly 3% since the Fourth Quarter 2018 report, primarily due to the sunsetting of many Neighborhood Stabilization Programs (NSP) designed to positively impact areas hardest hit by foreclosures. In addition, federal funds for government programs are issued later in the summer so some funds are not currently active. There are new signs that more homebuyers are accessing down payment assistance funds. Data from National Survey of Mortgage Originations and Freddie Mac found that buyers using down payment assistance as a source for the down payment doubled in four years, between 2013 – 2016. With new buyers coming to market who don't have proceeds from a home sale to fund their down payment, down payment program use may be poised for continued growth. In addition, FHA reports that more than 13% of borrowers who used an FHA loan so far in 2019 received government help with the down payment. Source: Freddie Mac Research "It's encouraging to see more homebuyers accessing the down payment help they need to make homeownership more affordable," said Rob Chrane, CEO of Down Payment Resource. "We track a wide range of eligibility criteria and benefit details about today's programs, including whether or not a program has funds available for buyers. It's information that helps housing professionals and homebuyers easily identify opportunities that will work for their situation." View state-by-state data. About Down Payment Resource Down Payment Resource (DPR) creates opportunity for homebuyers, REALTORS® and lenders by uncovering programs that get people into homes. The company tracks more than 2,500 homebuyer programs through its housing finance agency partners. DPR has been recognized by Inman News as "Most Innovative New Technology" and the HousingWire Tech100™. DPR is licensed to Multiple Listing Services, Realtor Associations, lenders and housing counselors across the country. For more information, please visit DownPaymentResource.com. About Down Payment Resource's Homeownership Program Index The Homeownership Program Index (HPI) measures the availability and characteristics of down payment programs administered by state and local Housing Finance Agencies (HFAs), nonprofits and other housing organizations. It analyzed state, local and national programs available in the DOWN PAYMENT RESOURCE® registry as of July 3, 2019.

CoreLogic Reports the Negative Equity Share Fell to 4.1% in the First Quarter of 2019
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the Home Equity Report for the first quarter of 2019. The report shows that U.S. homeowners with mortgages (which account for roughly 63% of all properties) have seen their equity increase by 5.6% year over year, representing a gain of nearly $485.7 billion since the first quarter of 2018. The average homeowner gained $6,400 in home equity between the first quarter of 2018 and the first quarter of 2019. Some states saw much larger gains. In Nevada, homeowners gained an average of approximately $21,000. In Idaho, homeowners gained an average of approximately $20,700 and Wyoming homeowners gained an average of $20,300 (Figure 1). From the fourth quarter of 2018 to the first quarter of 2019, the total number of mortgaged homes in negative equity decreased 1% to 2.2 million homes or 4.1% of all mortgaged properties. The number of mortgaged properties in negative equity during the first quarter 2019 fell 11%, or by 268,000 homes, from 2.5 million homes, or 4.7% of all mortgaged properties, from the first quarter 2018. "A moderation in home-price growth has reduced the gains in home-equity wealth and will likely slow the growth in home-improvement spending in the coming year," said Dr. Frank Nothaft, chief economist for CoreLogic. "For larger remodeling projects, homeowners often choose to cash-out some of their home equity through a first-lien refinance or placement of a second lien." Negative equity, often referred to as being underwater or upside down, applies to borrowers who owe more on their mortgages than their homes are worth. Negative equity can occur because of a decline in a home's value, an increase in mortgage debt or both. Negative equity peaked at 26% of mortgaged residential properties in the fourth quarter of 2009, based on the CoreLogic equity data analysis, which began in the third quarter of 2009. The national aggregate value of negative equity was approximately $304.4 billion at the end of the first quarter of 2019. This is up approximately $2.5 billion from $301.9 billion in the fourth quarter of 2018 and up year over year by approximately $18 billion from $286.4 billion in the first quarter of 2018. "The country continues to experience record economic expansion as illustrated by these increases in home equity," said Frank Martell, president and CEO of CoreLogic. "We expect home equity to continue increasing nationally in 2019, albeit at a slower pace than in recent years." For ongoing housing trends and data, visit the CoreLogic Insights Blog: www.corelogic.com/insights-index.aspx. About CoreLogic CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.

CoreLogic Reports Lowest U.S. Foreclosure Rate for a March in at Least 20 Years; Overall and Serious Delinquency Rates for a March at 13 Year Lows
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report. The report shows that nationally 4% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in March 2019, representing a 0.3-percentage-point decline in the overall delinquency rate compared with March 2018, when it was 4.3%. This was the lowest for the month of March in 13 years. As of March 2019, the foreclosure inventory rate – which measures the share of mortgages in some stage of the foreclosure process – was 0.4%, down 0.2 percentage points from March 2018. March 2019 marked the fifth consecutive month that the foreclosure inventory rate remained at 0.4% and was the lowest for any month since at least January 1999. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To monitor mortgage performance comprehensively, CoreLogic examines all stages of delinquency, as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next. The rate for early-stage delinquencies – defined as 30 to 59 days past due – was 2% in March 2019, up from 1.8% in March 2018. The share of mortgages 60 to 89 days past due in March 2019 was 0.6%, unchanged from March 2018. The serious delinquency rate – defined as 90 days or more past due, including loans in foreclosure – was 1.4% in March 2019, down from 1.9% in March 2018. The serious delinquency rate of 1.4% this March was the lowest for that month since 2006 when it was also 1.4%. Since early-stage delinquencies can be volatile, CoreLogic also analyzes transition rates. The share of mortgages that transitioned from current to 30 days past due was 0.9% in March 2019, up from 0.7% in March 2018. By comparison, in January 2007, just before the start of the financial crisis, the current-to-30-day transition rate was 1.2%, while it peaked in November 2008 at 2%. The nation's overall delinquency rate has fallen on a year-over-year basis for the past 15 consecutive months. However, 21 states did experience a slight increase in the overall delinquency rate in March 2019. Mississippi had the nation's highest overall delinquency rate at 8.2%, a 0.5-percentage-point gain from March 2018, while Alabama's gain was 0.3 percentage points. The other 19 states experienced annual gains of 0.1 or 0.2 percentage points. "The increase in the overall delinquency rate in 42% of states most likely indicates many Americans were caught off guard by their expenses in early 2019," said Dr. Frank Nothaft, chief economist at CoreLogic. "A strong economy, labor market and record levels of home equity should limit delinquencies from progressing to later stages." In March 2019, 166 U.S. metropolitan areas posted at least a small annual increase in the overall delinquency rate. Some of the highest gains were in several hurricane-ravaged parts of the Southeast (in Florida, Georgia and North Carolina), and in Northern California's Chico metropolitan area, home of last year's devastating "Camp Fire." "Delinquency rates and foreclosures continue to drop through March and should decline further in the months ahead barring any serious dislocations from recent flooding in the mid-west or a severe Atlantic hurricane and/or wildfire season on the coasts," said Frank Martell, president and CEO of CoreLogic. The next CoreLogic Loan Performance Insights Report will be released on July 9, 2019, featuring data for April 2019. For ongoing housing trends and data, visit the CoreLogic Insights Blog. About CoreLogic CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.

CoreLogic Reports U.S. Overall Delinquency Rate Lowest for a February in Nearly Two Decades
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report. The report shows, nationally, 4% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in February 2019, representing a 0.8 percentage point decline in the overall delinquency rate compared with February 2018, when it was 4.8%. This was the lowest for the month of February in at least 19 years. As of February 2019, the foreclosure inventory rate – which measures the share of mortgages in some stage of the foreclosure process – was 0.4%, down 0.2 percentage points from February 2018. The February 2019 foreclosure inventory rate tied the November and December 2018 and January 2019 rates as the lowest for any month since at least January 1999. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To monitor mortgage performance comprehensively, CoreLogic examines all stages of delinquency, as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next. The rate for early-stage delinquencies – defined as 30 to 59 days past due – was 2% in February 2019, down from 2.1% in February 2018. The share of mortgages 60 to 89 days past due in February 2019 was 0.6%, down from 0.7% in February 2018. The serious delinquency rate – defined as 90 days or more past due, including loans in foreclosure – was 1.4% in February 2019, down from 2.1% in February 2018. The serious delinquency rate of 1.4% this February was the lowest for that month since 2001 when it was also 1.4%. Since early-stage delinquencies can be volatile, CoreLogic also analyzes transition rates. The share of mortgages that transitioned from current to 30 days past due was 1% in February 2019, unchanged from February 2018. By comparison, in January 2007, just before the start of the financial crisis, the current-to-30-day transition rate was 1.2%, while it peaked in November 2008 at 2%. "The persistently impressive economic expansion continues to drive down housing market distress, with delinquencies and foreclosures hitting near two-decade lows," said Dr. Ralph McLaughlin, deputy chief economist at CoreLogic. "Furthermore, with unemployment at a 50-year low, wage growth nearing double inflation and a positive demographic structure that will drive housing demand upwards, the future of U.S. housing and mortgage markets look bright even if short term indicators suggest cooling." The nation's overall delinquency rate has fallen on a year-over-year basis for the past 14 consecutive months. Fewer delinquencies attribute to the strength of loan vintages in the years since the residential lending market has recovered following the housing crisis. In February, 11 metropolitan areas experienced annual gains – mostly very small – in their serious delinquency rates. The largest gains were in four Southeast metros affected by natural disasters in 2018. "We are on track to test generational lows as delinquency rates hit their lowest point in almost two decades. Given the economic outlook, we are likely to see more declines over the balance of this year," said Frank Martell, president and CEO of CoreLogic. "Reflective of the drop in delinquency rates, no state experienced a year-over-year increase in its foreclosure inventory rate so far in 2019." The next CoreLogic Loan Performance Insights Report will be released on June 11, 2019, featuring data for March 2019. For ongoing housing trends and data, visit the CoreLogic Insights Blog. About CoreLogic CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.

U.S. Foreclosure Activity Decreases 15 Percent in Q1 2019 to Lowest Levels Since Q1 2008
Foreclosure Activity Below Pre-Recession Levels in 60 Percent of U.S. Markets; Foreclosure Starts Up Seven Percent From a Year Ago; Average Foreclosure Timeline Increases 5 Percent From Last Year IRVINE, Calif. – April 11, 2019 — ATTOM Data Solutions, curator of the nation's premier property database and first property data provider of Data-as-a-Service (DaaS), today released its Q1 2019 U.S. Foreclosure Market Report, which shows a total of 161,875 U.S. properties with a foreclosure filing during the first quarter of 2019, down 23 percent from the previous quarter and down 15 percent from a year ago to the lowest level since Q1 2008. The report also shows a total of 58,550 U.S. properties with foreclosure filings in March 2019, up 7 percent from the previous month but down 21 percent from a year ago — the ninth consecutive month with a year-over-year decrease in U.S. foreclosure activity. "While some markets saw a slight uptick in foreclosure filings, that is above pre-recession levels, the majority of the major markets are well below pre-recession levels," said Todd Teta, chief product officer at ATTOM Data Solutions. "While we did see a slight increase in U.S. foreclosure starts from last quarter, bank repossessions reached an all-time low in the first quarter of 2019, showing continuing signs of a strong housing market." Markets below pre-recession levels include San Jose, Memphis, Dallas-Fort Worth The 132 out of the 220 markets (60 percent) with a population greater than 200,000 in the first quarter foreclosure activity below pre-recession averages included San Jose (79 percent below); Memphis (77 percent below); Dallas-Fort Worth (77 percent below); Las Vegas (74 percent below); and Phoenix (68 percent below). Other major markets with first quarter foreclosure activity below pre-recession averages were San Francisco, Riverside-San Bernardino in Southern California, Chicago, Detroit and Seattle. Markets still above pre-recession levels include Baltimore, Washington D.C., Philadelphia In 88 out of the 220 markets analyzed (40 percent), first quarter foreclosure activity levels were still above pre-recession averages, including Baltimore (189 percent above); Washington D.C. (26 percent above); Philadelphia (20 percent above); New York (13 percent above); and Hartford (4 percent above). Other major markets with first quarter foreclosure activity above pre-recession averages included Richmond, Virginia; Virginia Beach, Providence, Rhode Island; and New Orleans. Foreclosure starts increase 7 percent from last quarter Lenders started the foreclosure process on 91,397 U.S. properties in Q1 2019, up 7 percent from the previous quarter but down 3 percent from a year ago — the 15th consecutive quarter with a year-over-year decrease in foreclosure starts. Counter to the national trend, 15 states posted year-over-year increases in foreclosure starts in Q1 2019, including Florida (up 65 percent); Georgia (up 30 percent); Texas (up 27 percent); Louisiana (up 20 percent); Washington (up 12 percent); and Maryland (up 11 percent). Bank repossessions down in 48 states and DC Lenders repossessed 35,787 U.S. properties through foreclosure (REO) in Q1 2019, down 21 percent from the previous quarter and down 45 percent from a year ago — the 14th consecutive quarter with a year-over-year decrease in U.S. REOs. Along with the District of Columbia, 48 states posted year-over-year decreases in REOs in the first quarter, including Arizona (down 77 percent); California (down 41 percent); Florida (down 33 percent); New Jersey (down 59 percent); and Texas (down 43 percent). Atlantic City, Lakeland, Trenton highest metro foreclosure rates in Q1 2019 Nationwide one in every 836 U.S. housing units had a foreclosure filing in the first quarter of 2019. States with the highest foreclosure rates in the first quarter were New Jersey (one in 333 housing units with a foreclosure filing); Delaware (one in 364); Maryland (one in 412); Florida (one in 487); and Illinois (one in 489). Among 220 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in Q1 2019 were Atlantic City, New Jersey (one in every 177 housing units with a foreclosure filing); Lakeland, Florida (one in 338); Trenton, New Jersey (one in 345); Columbia, South Carolina (one in 372); and Philadelphia, Pennsylvania (one in 373). Along with Philadelphia, other major metros with a population of at least 1 million and foreclosure rates in the top 25 highest nationwide included Jacksonville, Florida at No. 7, Baltimore at No.9, Cleveland at No. 13, Chicago at No. 14, Tampa at No. 17, Miami at No. 18, and Orlando at No. 21. Average foreclosure timeline increases 5 percent in first quarter Properties foreclosed in the first quarter of 2019 had been in the foreclosure process an average of 835 days, up 3 percent from an average 811 days for properties foreclosed in the fourth quarter of 2018 and up 5 percent from an average of 791 days for properties foreclosed in the first quarter of 2018. States with the longest average foreclosure timeline for properties foreclosed in Q1 2019 were Indiana (1,806 days), Hawaii (1,565 days), Arizona (1,385 days), New Jersey (1,212 days), and Florida (1,196 days). States with the shortest average time to foreclose in Q1 2019 were West Virginia (159 days), Virginia (206 days), Minnesota (251 days), Alaska (262 days), and Wyoming (269 days). March 2019 Foreclosure Activity High-Level Takeaway Nationwide in March 2019 one in every 2,312 properties had a foreclosure filing States with the highest foreclosure rates in March 2019 were Delaware (one in every 999 housing units with a foreclosure filing); New Jersey (one in every 1,021 housing units); Maryland (one in every 1,077 housing units); Florida (one in every 1,345 housing units); and South Carolina (one in every 1,379 housing units). 32,280 U.S. properties started the foreclosure process in March 2019, up 9 percent from the previous month but down 2 percent from a year ago. March 2019 marked the third consecutive month with a month-over-month increase in foreclosure starts. Lenders completed the foreclosure process on 12,167 U.S. properties in March 2019, up 7 percent from the previous month but down 53 percent from a year ago. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and introducing the first property data deliver solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).

Realtor.com Launches New 'Price Perfect' Tool to Help Buyers Find Specific Homes that Match Their Needs
First solution to help people understand their buying power by adding or subtracting home features SANTA CLARA, Calif., March 27, 2019 -- Realtor.com, the Home of Home Search, today announced a new feature that equips this spring's home buyers with a deeper understanding of their buying power by providing a tool that allows them to add or subtract the cost of specific home features. Price Perfect helps home buyers to configure their ideal home, within a desired price range, in their neighborhood of choice – the first-of-its-kind in the digital real estate industry. "Our research shows 'how much can I afford' is one of the biggest pain points for home shoppers," said Brad Sivert, general manager and head of mortgage for realtor.com.® "With Price Perfect, buyers have more insight into their spending power by showing them the impact of adding or subtracting specific home features, such as an extra bedroom, bathroom or adding a garage. It empowers them to find the right home that is both affordable and has the features that are most important to them." After entering a basic search of bedrooms, bathrooms and location, buyers are able to view how much adding or subtracting specific features would impact the price of their home and adjust their search accordingly. For example, when searching for a three-bedroom, two-bathroom home in Madison, Wis., the cost of expanding the search to include another bedroom would add $62,500 and another bathroom $24,045 to the median listing price of $369,900. But subtracting a bathroom could save a buyer $10,000 and considering a condo instead of a single family home could save another $5,000 off the median listing price. Once the buyer decides on their desired features, they are shown the monthly payment for the median-priced home broken down by mortgage, property taxes and insurance. With a quick click of the "See Homes" button, they can view all the homes on realtor.com® that meet all their specific search criteria. Price Perfect assigns costs to individual home features based on an algorithm of listing prices and characteristics of homes currently on the market in a specific neighborhood. This ensures all costs reflect market conditions in real time, making these insights incredibly relevant to buyers currently in the market. Home buyers are able to access Price Perfect on realtor.com® at https://www.realtor.com/mortgage/tools/price-perfect?iid=global_nav. To access Price Perfect from the realtor.com® homepage, simply click "Mortgage" and select "Find My Buying Power." Realtor.com®'s Price Perfect feature is available on mobile web and the realtor.com® website and will be expanding to the company's iOS and Android app. About realtor.com® Realtor.com®, The Home of Home Search℠, offers an extensive inventory of for-sale and rental listings, and access to information, tools and professional expertise that help people move confidently through every step of their home journey. It pioneered the world of digital real estate 20 years ago, and today is the trusted resource for home buyers, sellers and dreamers by making all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.

Millennials Now Taking on More Mortgages than Any Other Generation
Millennials now represent 42 percent of all new home loans, and are buying outside major metro areas, study shows SANTA CLARA, Calif., Feb. 20, 2019 -- Realtor.com®, the Home of Home Search, today released new survey data revealing members of the millennial generation have increased their home buying purchase power and now boast the largest share of new home loans by dollar volume, larger than both Generation X and the baby boomer generation. These insights, based on a realtor.com® analysis of residential mortgage loan originations from Optimal Blue, show that while the median home buying price millennials take on is still lower than that of Generation X or baby boomers, millennials are showing interest in more affordable markets. Additionally, millennials are making lower down payments and taking on larger mortgages when compared to Gen Xers and baby boomers.   "Millennials are getting older, with better jobs and deeper pockets, allowing them to expand their collective purchase power, and hence, their footprint in the market," said Javier Vivas, director of economic research at realtor.com®. "The stereotype that millennials primarily choose to buy homes and live in large metro areas isn't the reality. Results show millennials' expansion is more heavily conditioned by affordability than in prior years, so their eyes are set on less traditional secondary markets where homes and jobs are now available and plentiful." Affordability is such a key factor for millennial home buyers that this generation is moving to places previous generations have not, like Buffalo, N.Y., the top affordable market for millennials, according to this study. Millennials Now Have More Buying Power Millennials are still primarily in the life stage that requires starter homes. Despite a lower median purchase price ($238,000) than the two generations before them, (with baby boomers and Gen Xers spending an average of $264,000 and $289,000, respectively), millennials are increasing their purchase price at a faster rate than previous generations, indicative of this generation starting to move beyond starter homes. Since early 2017, millennials have been the largest mortgage purchasers by the number of loans originated, surpassing Generation X as the leader in January 2017. As 2018 came to a close, millennials took on nearly half (45 percent) of all new mortgages, compared to 36 percent for Generation X, and 17 percent for baby boomers. In November 2018, millennials finally overtook Generation X as having the largest share of new loans by dollar volume, with a share of 42 percent in December, compared to a share of 40 percent for Generation X and 17 percent for baby boomers. This indicates millennials are willing to take on larger mortgages than any other generation to fulfill their dreams of homeownership. Millennial Home Buying is Driven by Affordability In addition to increasing their buying power and taking on larger mortgages, the data shows millennials have consistently made lower down payments than other generations since 2015. While other generations have increased their down payments in response to rising prices, millennials have not been able to increase their down payments as much as older generations. Millennial down payments averaged 8.8 percent in December 2018, compared to 11.9 percent for Generation X and 17.7 percent for the more equity-rich baby boomers. Given that the majority of millennial home buyers are searching for their first homes and do not bring equity from a previous home, it's no surprise they are putting down smaller down payments. This is likely a driver of their activity in more affordable markets, where their money goes further. Top U.S. Markets for Home Buyers Varies by Generation Within the last year, millennials have moved to affordable areas with strong job markets where they have more buying power. At the end of 2018, the median price of a mortgaged home purchased by millennials was $238,000, $26,000 less than the median price of a home mortgaged by baby boomers ($264,000) and $51,000 than Generation X ($289,000). The top five markets where millennials now generate more than 50 percent of the mortgages and their share grew by more than four percent are: Buffalo, N.Y. Pittsburgh Milwaukee Cincinnati Columbus, Ohio As members of Generation X are in their prime income-earning years, they purchased homes in strong job markets and secondary home markets, with five of the 10 markets on the list having unemployment rates higher than the national rate of 3.7 percent. The top five markets where Gen X purchased a large and/or growing share of homes are: Los Angeles Providence, R.I. Bridgeport, Conn. Jacksonville, Fla. Atlanta Many boomers are retired or rapidly approaching retirement, and therefore, showed a strong preference for buying homes in markets within primarily low-tax states or markets that are lower-cost than nearby metros, presumably to maintain wealth earned during their working years throughout their senior years. The top five markets where boomers made up a large and/or growing share of mortgaged purchases are: Knoxville, Tenn. Sacramento, Calif. Memphis, Tenn. Oklahoma City Riverside, Calif. About realtor.com® Realtor.com®, The Home of Home Search℠, offers an extensive inventory of for-sale and rental listings, and access to information, tools and professional expertise that help people move confidently through every step of their home journey. It pioneered the world of digital real estate 20 years ago, and today is the trusted resource for home buyers, sellers and dreamers by making all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.

Equity Rich U.S. Properties Increase to New High in 2018
Equity Rich Properties Represent 25.6 Percent of U.S. Properties; Share of Seriously Underwater Properties Drops to 8.8 Percent; Report Includes Home Equity Breakdown by Zip Code IRVINE, Calif. — Feb. 7, 2019 — ATTOM Data Solutions, curator of the nation's premier property database, today released its Year-End 2018 U.S. Home Equity & Underwater Report, which shows that in the fourth quarter of 2018, over 14.5 million U.S. properties were equity rich — where the combined estimated amount of loans secured by the property was 50 percent or less of the property's estimated market value — up by more than 834,000 from a year ago to a new high as far back as data is available, Q4 2013. The 14.5 million equity rich properties in Q4 2018 represented 25.6 percent of all properties with a mortgage, down slightly from 25.7 percent in the previous quarter but up from 25.4 percent in Q4 2017. The report also shows more than 5 million U.S. properties were seriously underwater — where the combined estimated balance of loans secured by the property was at least 25 percent higher than the property's estimated market value, representing 8.8 percent of all U.S. properties with a mortgage. That 8.8 percent share of seriously underwater homes remained unchanged from the previous quarter and down from 9.3 percent in Q4 2017. "With homeowners staying put longer, homeownership equity will most likely continue to strengthen. Those that are seriously underwater may find themselves coming up for air as they continue to pay off excessive legacy mortgages or sell," said Todd Teta, chief product officer with ATTOM Data Solutions. "This report helps to showcase a story of the West coast markets having the highest share of equity rich homeowners versus the South and Midwest markets, who continue to have stubbornly high rates of seriously underwater homeowners." Historical U.S. Underwater & Equity Rich Trends Highest seriously underwater share in Louisiana, Mississippi, Arkansas, Illinois, Iowa States with the highest share of mortgages that were seriously underwater included; Louisiana (20.8 percent); Mississippi (16.9 percent); Arkansas (15.9 percent); Illinois (15.6 percent); and Iowa (15.2 percent). Among 98 metropolitan statistical areas analyzed in the report, those with the highest share of mortgages that were seriously underwater included; Baton Rouge, Louisiana (20.7 percent); Youngstown, Ohio (19.0 percent); New Orleans, Louisiana (19.0 percent); Toledo, Ohio (18.0 percent); and Scranton, Pennsylvania (17.7 percent). 27 zip codes where more than half of all properties are seriously underwater Among 7,590 U.S. zip codes with at least 2,500 properties with mortgages, there were 27 zip codes where more than half of all properties with a mortgage were seriously underwater, including zip codes in the Chicago, Cleveland, Saint Louis, Atlantic City, Detroit and Virginia Beach metropolitan statistical areas. The top five zip codes with the highest share of seriously underwater properties were 08611 in Trenton, New Jersey (70.3 percent seriously underwater); 63137 in Saint Louis, Missouri (64.8 percent); 60426 in Harvey, Illinois (62.3 percent); 38106 in Memphis, Tennessee (60.5 percent); and 61104 in Rockford, Illinois (59.6 percent). Q4 2018 Underwater Properties Heat Map by ZIP Highest equity rich share in California, Hawaii, New York, Washington, Oregon States with the highest share of equity rich properties were California (43.6 percent); Hawaii (39.3 percent); New York (34.2 percent); Washington (34.2 percent); and Oregon (32.9 percent). Among 98 metropolitan statistical areas analyzed in the report, those with the highest share of equity rich properties were San Jose, California (72.0 percent); San Francisco, California (60.7 percent); Los Angeles, California (48.5 percent); Honolulu, Hawaii (40.2 percent); and Oxnard, California (39.2 percent). 7 Out of the top 10 equity rich counties resided in California Among the 1,479 counties with at least 2,500 properties with mortgages, those top 10 counties with the highest percent of equity rich properties resided mainly in California counties. The top five counties with the highest share of equity rich properties were San Mateo, California (75.9 percent); Santa Clara, California (73.0 percent); San Francisco, California (71.4 percent); Pasquotank, North Carolina (65.7 percent); and Alameda, California (62.7 percent). 427 zip codes where more than half of all properties are equity rich Among 7,590 U.S. zip codes with at least 2,500 properties with mortgages, there were 427 zip codes where more than half of all properties with a mortgage were equity rich. The top five zip codes with the highest share of equity rich properties were all in the California Bay area: 94116 in San Francisco (85.0 percent); 94087 in Sunnyvale (84.6 percent equity rich); 94040 in Mountain View (83.5 percent equity rich); 94043 in Mountain View (83.0 percent equity rich); and 95051 in Santa Clara (82.7 percent equity rich). Q4 2018 Equity Rich Properties Heat Map by ZIP About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and more.

Residential Mortgage Originations Drop 21 Percent in Q3 2018
Dollar Volume of Refinance Originations Falls to 4.5-Year Low; Purchase Originations Down 2 Percent, HELOC Originations Down 11 Percent; Median Down Payment Percent Increases to Nearly 15-Year High IRVINE, Calif. — ATTOM Data Solutions, curator of the nation's premier property database, today released its Q3 2018 U.S. Residential Property Mortgage Origination Report, which shows that 681,455 refinance mortgages secured by residential property (1 to 4 units) were originated in the third quarter, down 15 percent from the previous quarter and down 21 percent from a year ago to the lowest level as far back as data is available — Q1 2000. The refinance mortgages originated in Q3 2018 represented an estimated $175.1 billion in total dollar volume, down 14 percent from the previous quarter and down 21 percent from a year ago to the lowest level since Q1 2014 — a 4.5-year low. "Rising mortgage rates continued to dampen demand for mortgages in the third quarter, particularly refinance mortgages," said Daren Blomquist, senior vice president at ATTOM Data Solutions. "There were some notable exceptions to that trend, primarily in markets affected by the hurricanes in the third quarter of 2017." Refinance originations increase in Houston, Miami, Tampa Residential refinance mortgage originations decreased from a year ago in 197 of the 225 metropolitan statistical areas analyzed in the report (88 percent), including Los Angeles (down 31 percent); New York (down 11 percent); Dallas-Fort Worth (down 5 percent); Phoenix (down 14 percent); and Atlanta (down 33 percent). Counter to the national trend, residential refinance mortgage originations increased from a year ago in 28 of the 225 metro areas analyzed in the report (12 percent), including Houston (up 69 percent); Miami (up 29 percent); Tampa-St. Petersburg (up 33 percent); San Antonio (up 3 percent); and Orlando (up 30 percent). Purchase mortgage originations down 2 percent from year ago Lenders originated 892,760 residential purchase mortgages in Q3 2018, down 5 percent from the previous quarter and down 2 percent from a year ago. Residential purchase mortgage originations decreased from a year ago in 121 of the 225 metropolitan statistical areas analyzed in the report (54 percent), including New York (down 6 percent); Dallas-Fort Worth (down 5 percent); Chicago (down 14 percent); Phoenix (down 2 percent); and Los Angeles (down 14 percent). Counter to the national trend, residential purchase mortgage originations increased from a year ago in 104 of the 225 metro areas analyzed in the report (46 percent), including Atlanta (up 12 percent); Houston (up 3 percent); Miami (up 2 percent); Tampa-St. Petersburg (up 3 percent); and Nashville (up 1 percent). HELOC originations down 11 percent from year ago A total of 313,744 Home Equity Lines of Credit (HELOCs) were originated on residential properties in Q3 2018, down 14 percent from the previous quarter and down 11 percent from a year ago. Residential HELOC mortgage originations decreased from a year ago in 150 of the 225 metropolitan statistical areas analyzed in the report (67 percent), including New York (down 14 percent); Los Angeles (down 18 percent); Seattle (down 3 percent); Chicago (down 27 percent); and Philadelphia (down 16 percent). Counter to the national trend, residential HELOC mortgage originations increased from a year ago in 73 of the 225 metro areas analyzed in the report (32 percent), including Miami (up 4 percent); Tampa-St. Petersburg (up 22 percent); Kansas City (up 20 percent); Orlando (up 3 percent); and Omaha (up 11 percent). Median down payment percentage at nearly 15-year high The median down payment on single family homes and condos purchased with financing in Q3 2018 was $20,250, up 7 percent from the previous quarter and up 16 percent from a year ago to a record high as far back as data is available, Q1 2000. The median down payment as a percentage of the median home sales price in Q3 2018 was 7.6 percent, up from 7.2 percent in the previous quarter and up from 6.8 percent in Q3 2017 to the highest since Q4 2003 — a nearly 15-year high. Among 96 metropolitan statistical areas analyzed in the report for down payments, those with the highest median down payment as a percentage of median home sales price in Q3 2018 were San Jose, California (24.7 percent); San Francisco, California (23.3 percent); Los Angeles, California (20.6 percent); Oxnard-Thousand Oaks-Ventura, California (19.0 percent); and Fort Collins, Colorado (18.6 percent). FHA loan share increases from more than 10-year low in previous quarter Residential loans backed by the Federal Housing Administration (FHA) accounted for 10.5 percent of all residential property loans originated in Q3 2018, up from a more than 10-year low of 10.2 percent in the previous quarter but still down from 12.5 percent a year ago. Residential loans backed by the U.S. Department of Veterans Affairs (VA) accounted for 5.5 percent of all residential property loans originated in Q3 2018, up from 5.4 percent in the previous quarter but still down from 6.6 percent a year ago. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and more.

Bureau of Consumer Financial Protection and Federal Housing Finance Agency Release National Survey of Mortgage Originations Dataset for Public Use
Details Borrowers' Experiences Obtaining a Mortgage WASHINGTON, D.C. — The Bureau of Consumer Financial Protection (BCFP) and the Federal Housing Finance Agency (FHFA) today released for public use a new loan-level dataset collected through the National Survey of Mortgage Originations (NSMO) that provides insights into borrowers' experiences in getting a residential mortgage. The NSMO is a component of the National Mortgage Database (NMDB®), the first comprehensive repository of detailed mortgage loan information designed to support policymaking and research efforts and to help regulators better understand emerging mortgage and housing market trends. The NMDB was launched by FHFA and the BCFP in 2012. In each quarter since 2014, FHFA and the BCFP sent surveys to borrowers who had recently obtained mortgages to gather feedback on their experiences during the process of getting a mortgage, their perception of the mortgage market, and their future expectations. FHFA and the BCFP have been compiling the NSMO survey data and this dataset is the first public release. "The NSMO data should be very helpful to policymakers, the mortgage industry and researchers in understanding consumer behavior and borrowers' experiences obtaining a mortgage," said FHFA Deputy Director Sandra Thompson. "The goal of the survey is to obtain information to help improve lending practices and the mortgage process for future borrowers." "These data will allow greater transparency, accountability, and effectiveness around borrowers' mortgage experiences. This is yet another example of greater cooperation within the federal family on behalf of smarter policy for the American people," said BCFP Acting Director Mick Mulvaney. The NMDB is designed to fulfill the requirements of the Housing and Economic Recovery Act (HERA) and the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). HERA mandated that FHFA conduct a monthly mortgage survey of all residential mortgages, including those not eligible for purchase by Fannie Mae and Freddie Mac. The Dodd-Frank Act mandated that the BCFP monitor the primary mortgage market, in part through the use of the survey data. The NSMO public use file can be found at: https://www.fhfa.gov/nsmodata

Q3 2018 Foreclosure Activity Down 8 Percent From Year Ago to Lowest Level Since Q4 2005
Average Time to Foreclose Drops to Two-Year Low; Foreclosure Starts Up From Year Ago in 36 Percent of Local Markets; FHA Foreclosure Rates for 2014 and 2015 Vintages Above Long-Term Average IRVINE, Calif. – Oct. 11, 2018 — ATTOM Data Solutions, curator of the nation's premier property database, today released its Q3 2018 U.S. Foreclosure Market Report™, which shows a total of 177,146 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in the third quarter, down 6 percent from the previous quarter and down 8 percent from a year ago to the lowest level since Q4 2005 — a nearly 13-year low. U.S. foreclosure activity in Q3 2018 was 36 percent below the pre-recession average of 278,912 properties with foreclosure filings per quarter between Q1 2006 and Q3 2007 — the eighth consecutive quarter where U.S. foreclosure activity has registered below the pre-recession average. "A decade after poorly underwritten mortgages triggered a housing market crash, it's clear that the foreclosure risk associated with those problem mortgages has faded — average foreclosure timelines have dropped to a two-year low, and the share of foreclosures tied to 2004-to-2008 loans has dropped well below 50 percent," said Daren Blomquist, senior vice president at ATTOM Data Solutions. "The biggest foreclosure risk in today's housing market comes from natural disaster events such as the twin hurricanes of a year ago. Foreclosure starts spiked in the third quarter in many local markets impacted by those hurricanes. Secondarily, we are seeing relatively modest — but more widespread — foreclosure risk associated with FHA loans originated in 2014 and 2015." Foreclosure starts down nationwide, up in 36 percent of local markets Lenders started the foreclosure process on 91,849 U.S. properties in Q3 2018, down 6 percent from the previous quarter and down 3 percent from a year ago — the 13th consecutive quarter with a year-over-year decrease in foreclosure starts. Counter to the national trend, 15 states posted year-over-year increases in foreclosure starts in Q3 2018, including Florida (up 25 percent); Texas (up 3 percent); Maryland (up 13 percent); Michigan (up 32 percent); and Missouri (up 10 percent). Also counter to the national trend, 79 of 219 metropolitan statistical areas analyzed in the report (36 percent) posted a year-over-year increase in foreclosure starts in Q3 2018, including Los Angeles, California (up 2 percent); Houston, Texas (up 51 percent); Washington, D.C. (up 2 percent); Miami, Florida (up 29 percent); and Detroit, Michigan (up 65 percent). Other markets with at least 1 million people and a year-over-year increase of at least 15 percent in foreclosure starts in Q3 2018 were Minneapolis-St. Paul, Minnesota; Tampa-St. Petersburg, Florida; St. Louis, Missouri; Orlando, Florida; Las Vegas, Nevada; Austin, Texas, Milwaukee, Wisconsin; Jacksonville, Florida; and Grand Rapids, Wyoming. FHA foreclosure rates for 2014 and 2015 vintages above long-term average FHA foreclosure rates for 2014 and 2015 loan vintages registered above the long-term average foreclosure rate for FHA loans, the only two post-recession vintages (2010 and later) above the long-term average. FHA loans originated in 2014 had the highest foreclosure rate of any post-recession loan vintage nationwide, as well as in 31 states and in 63 of 115 metropolitan statistical areas analyzed (55 percent), including New York, Chicago, Dallas-Fort Worth, Philadelphia and Houston. FHA loans originated in 2015 had the highest foreclosure rate of any post-recession loan vintage in 10 states and in 21 of 115 metropolitan statistical areas analyzed (18 percent), including Atlanta, Miami, San Antonio, Oklahoma City and Memphis. Highest foreclosure rates in New Jersey, Delaware, Maryland Nationwide one in every 757 properties had a foreclosure filing in Q3 2018. States with the highest foreclosure rates in Q3 2018 were New Jersey (one in every 267 housing units with a foreclosure filing); Delaware (one in every 315); Maryland (one in every 379); Florida (one in every 449); and Nevada (one in every 472). Among 219 metropolitan statistical areas analyzed in the report, those with the highest foreclosure rates in Q3 2018 were Atlantic City, New Jersey (one in every 152 housing units with a foreclosure filing); Trenton, New Jersey (one in every 236); Fayetteville, North Carolina (one in every 253); Peoria, Illinois (one in every 299); and Philadelphia, Pennsylvania (one in every 326). Bank repossessions drop to record low nationwide, up in 17 states Lenders repossessed 51,459 U.S. properties through foreclosure (REO) in Q3 2018, down 24 percent from the previous quarter and down 8 percent from a year ago to the lowest level since ATTOM began tracking in Q2 2005. Counter to the national trend, the District of Columbia and 17 states posted year-over-year increases in REO activity in Q3 2018, including New Jersey (up 4 percent); Texas (up 21 percent); New York (up 3 percent); Georgia (up 56 percent); and Missouri (up 27 percent). Average time to foreclose drops to two-year low Properties foreclosed in Q3 2018 had been in the foreclosure process an average of 713 days, down from 720 days in the previous quarter and down from 899 days in Q3 2017 to the lowest level since Q2 2016 — a two-year low. States with the longest average foreclosure timelines for homes foreclosed in Q3 2018 were Hawaii (1,491 days); Indiana (1,295 days); Florida (1,177 days); Utah (1,170 days); New Jersey (1,137 days); and New York (1,092 days). States with the shortest average foreclosure timelines for homes foreclosed in Q3 2018 were Virginia (179 days); Mississippi (209 days); New Hampshire (216 days); Alaska (237 days); and Nebraska (240 days). About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and more.

We Have Liftoff: In-House Realty Rebrands Operations as 'Rocket Homes' to Better Align with Sister Companies
Along with a complete rebranding, the company also launched a new home search site to compliment one of the nation's largest real estate agent referral networks DETROIT, September 10, 2018 – In-House Realty, a Detroit-based subsidiary of Rock Holdings Inc., the nation's leader in FinTech real estate services, today announced it has rebranded as Rocket Homes. With its new name, Rocket Homes draws from its heritage and builds on the legacy of its affiliated companies including: Quicken Loans, the nation's largest mortgage lender and home of the revolutionary Rocket Mortgage; and Rocket Loans, a completely-online personal lender with same-day funding. "For more than a decade, we've worked tirelessly to build one of the country's largest real estate referral networks. Rebranding to Rocket Homes highlights our growth and evolution, as we are continuing to invest in a FinTech-driven future," said Doug Seabolt, CEO of Rocket Homes. "Not only is Rocket Homes infusing technology into the home buying and selling process, we are also partnering with Rocket Mortgage to create a more seamless, streamlined experience for our clients." As part of the rebranding, Rocket Homes also unveiled a new website that now features powerful home search functionality. The company conducted extensive consumer research to make sure it is providing home buyers and sellers with the information they want most. Along with traditional data like the number of rooms, square footage and price, Rocket Homes also provides neighborhood information including market trends, housing supply and the level of demand for housing in the specific areas consumers are looking to buy or sell in. The home search feature is currently available to consumers in the company's home state of Michigan. Rocket Homes search will be available in 10 additional states by the end of 2018, and will be rolled out nationwide by mid-2019. For more than 10 years, In-House Realty's core business has been matching home buyers and sellers with qualified, vetted real estate agents in all 50 states and 3,100 counties in America. The company's partner agent network is one of the largest in the nation, with more than 25,000 agents in virtually every neighborhood throughout the country. "We started with the simple idea of connecting consumers with the best real estate agents in the business," said Sam Vida, Founder and President of Rocket Homes. "As we grew and received feedback from our clients, we learned how complex and fragmented the real estate process was for them. So we made it our mission to create a simpler, seamless home buying and selling experience by combining: online home search, getting a mortgage and working with a trusted real estate advisor. That's what Rocket Homes is all about." This is the latest in a string of tech announcements for Rocket Homes parent company Rock Holdings, which has made four FinTech-driven acquisitions in the last two years. Rocket Homes completed the purchase of Toronto-based OpenHouse Realty's technology group and its proprietary technology platform in the first quarter of 2017. In addition, Rock Holdings acquired Los Angeles-based LowerMyBills and ClassesUSA, two of the nation's leading online marketing service providers, in the third quarter of 2017. Most recently, Rocket Homes acquired ForSaleByOwner.com – the country's largest online marketplace focused exclusively on the DIY seller - in May 2018 Rocket Homes is located in the epicenter of Detroit's growing technology landscape, which attracts and supports tech leaders from Silicon Valley and around the world – in addition to local organic startups. This growing list of notable companies includes Microsoft, LinkedIn, Amazon, WeWork, Google, Pinterest, Snapchat, Twitter, Uber and StockX, all of which have recently opened offices in downtown Detroit. About Rocket Homes Rocket Homes, formerly known as In-House Realty, manages a Partner Network of more than 25,000 premier real estate agents and has assisted over 500,000 consumers with their home buying and selling needs. All of its Partner Agents are prescreened and demonstrate exceptional client service, knowledge and experience in their local communities. In September 2018, Rocket Homes launched its new website that allows consumers to search for homes, connect with a real estate professional and obtain mortgage approval - creating a seamless, fully integrated home buying and selling experience for consumers. For more information, please visit RocketHomes.com.

Homeownership Program Index Highlights Programs for Community Heroes
Nearly 13 percent of programs offer special incentives for law enforcement, first responders, educators and military The Down Payment Resource (DPR) Second Quarter 2018 Homeownership Program Index (HPI) shows that the number of total programs increased to 2,527, up 24 programs from the previous quarter. Eighty-six (86) percent of programs currently have funds available for eligible homebuyers, down just a half a percent from the previous quarter. As home prices increase, especially among starter homes, more states, cities and municipalities are considering down payment assistance and incentive programs to help address homeownership affordability challenges for its community servants. This quarter, nearly 7 percent (6.8%) of programs are available for workers who provide some of the most important services to a community, including teachers, first responders, law enforcement, firefighters and healthcare workers. Plus, more than 6 percent (6.1%) of programs have benefits for veterans, members of the military and surviving spouses. These programs can also be layered with zero down payment VA loans. "All markets value our first responders, military, educators and other community service roles. More cities — especially higher cost markets — are beginning to look for creative ways to recruit and retain these workers, including ways to make homeownership possible," said Rob Chrane, CEO of Down Payment Resource. Special incentives for heroes Homebuyer programs with special incentives for community servants have been available in markets across the country for decades. They may be separate programs, or they might offer an additional benefit or more flexible eligibility requirements for homebuyers in that profession. To qualify for a homeownership program, both the buyer and the property must meet certain criteria, which vary by program. Municipalities may structure these programs to help encourage homeownership in a revitalization area, help community heroes to live close to where they work and help recruit and retain key service personnel. Program examples On August 6, 2018, the Golden State Finance Authority announced a new Platinum "Select" Feature, an addition to its GSFA Platinum Program. It provides a down payment assistance grant, instead of a second mortgage, of up to 5% of the first mortgage loan amount to eligible law enforcement, first responders and educators in the state of California. In June 2018, the City of Mobile, Alabama launched the Public Safety Down Payment Assistance Program to help to help police officers and firefighters become first time homeowners. The program provides up to $20,000 for down payment and closing costs and up to $40,000 in certain target areas. In October 2017, Washington D.C.'s Department of Housing and Community Development EAH First Responder program was expanded to include a grant of up to $10,000, plus a matching funds grant of up to $15,000. This is in addition to the EAH deferred loan that they are eligible to receive as District employees. Available since 1998, the Mississippi Home Corporation Housing Assistance for Teachers (HAT) Program is available in 40 of the 82 counties in the state. It provides a forgivable loan of up to $6,000 for teachers who agree to a 3 year teaching contract in an eligible county. Some programs offer an additional benefit to community heroes. For example, the Georgia Dream Program offers $5,000 in down payment assistance to qualified buyers and an additional $2,500 to eligible public protector, education, healthcare provider or active military. In Arizona, the Home In 5 Advantage Program provides 3% down payment for buyers and an additional 1% to teachers, first responders and veterans. HUD's Good Neighbor Next Door program helps law enforcement officers, firefighters, EMTs and teachers get 50 percent off the list price of a HUD foreclosure home. Eligible homes can be found via HUD's look-up tool. Numerous states and municipalities offer similar programs to our nation's core service providers, enabling them to live where they work. In addition, community heroes may benefit from special savings and rebates from Homes for Heroes when they buy, sell or refinance a home. Data About All Types of Programs 38% of homeownership programs do not have a first-time homebuyer requirement and are available for eligible repeat homebuyers. (First-time homebuyer is defined by HUD as someone who has not owned a home in three years.) 75% of programs are available in a specific local area, such as a city, county or neighborhood. 25% of programs are available statewide through state housing finance agencies. 19% of programs allow buyers to purchase a multi-family property as long as the buyer occupies one of the units. Nearly 7% (6.8%) of programs are available for community service workers, including educators, police officers, firefighters and healthcare workers. More than 6% (6.1%) of programs have benefits for veterans, members of the military and surviving spouses. These programs can also be layered with zero down payment VA loans. 69% of programs in the database are down payment or closing cost assistance. 9% of programs are first mortgages and 8% of programs are Mortgage Credit Certificates (MCCs). States with the greatest number of down payment programs remained consistent—California, Florida and Texas are the top three. View a complete list of state-by-state program data. More than 50 percent of programs accept online homeownership education. View state-by-state data. About Down Payment Resource Down Payment Resource (DPR) creates opportunity for homebuyers, REALTORS® and lenders by uncovering programs that get people into homes. The company tracks more than 2,500 homebuyer programs through its housing finance agency partners. DPR has been recognized by Inman News as "Most Innovative New Technology" and the HousingWire Tech100™. DPR is licensed to Multiple Listing Services, Realtor Associations, lenders and housing counselors across the country. For more information, please visit DownPaymentResource.com. About Down Payment Resource's Homeownership Program Index The Homeownership Program Index (HPI) measures the availability and characteristics of down payment programs administered by state and local Housing Finance Agencies (HFAs), nonprofits and other housing organizations. It analyzed state, local and national programs available in the DOWN PAYMENT RESOURCE® registry as of July 3, 2018.

CoreLogic Loan Performance Insights Finds Declining Mortgage Delinquency Rates for April as States Impacted by 2017 Hurricanes Continue to Recover
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report. The report shows that, nationally, 4.2 percent of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in April 2018, representing a 0.6 percentage point decline in the overall delinquency rate compared with April 2017, when it was 4.8 percent. As of April 2018, the foreclosure inventory rate – which measures the share of mortgages in some stage of the foreclosure process – was 0.6 percent, down 0.1 percentage points from 0.7 percent in April 2017. Since August 2017, the foreclosure inventory rate has been steady at 0.6 percent, the lowest level since June 2007, when it was also 0.6 percent. The April 2018 foreclosure inventory rate was the lowest for that month in 11 years; it was also 0.6 percent in April 2007. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To monitor mortgage performance comprehensively, CoreLogic examines all stages of delinquency, as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next. The rate for early-stage delinquencies – defined as 30 to 59 days past due – was 1.8 percent in April 2018, down from 2.2 in April 2017. The share of mortgages that were 60 to 89 days past due in April 2018 was 0.6 percent, unchanged from April 2017. The serious delinquency rate – defined as 90 days or more past due, including loans in foreclosure – was 1.9 percent in April 2018, down from 2.0 percent in April 2017. The April 2018 serious delinquency rate was the lowest for that month since 2007 when it was 1.6 percent. "Job growth, home-price appreciation, and full-doc underwriting have pushed delinquency and foreclosure rates to the lowest point in more than a decade," said Dr. Frank Nothaft, chief economist for CoreLogic. "The latest CoreLogic Home Price Index report revealed the annual national home price growth was 7.1 percent in May, the fastest annual growth in four years. U.S. employers have also continued to employ more individuals, as employment rose by 2.4 million throughout the last 12 months with 213,000 jobs added last month alone. Together, this heightened financial stability is pushing delinquency and foreclosure rates to record lows." Since early-stage delinquencies can be volatile, CoreLogic also analyzes transition rates. The share of mortgages that transitioned from current to 30 days past due was 0.8 percent in April 2018, down from 1.2 percent in April 2017. By comparison, in January 2007, just before the start of the financial crisis, the current- to 30-day transition rate was 1.2 percent, while it peaked in November 2008 at 2 percent. As a result of the 2017 hurricane season, Florida and Texas are the only states showing significant gains in 90-day delinquency rates. According to the CoreLogic Storm Surge Report, Florida has the most densely populated and longest coastal area and thus the most exposure to storm surge flooding (compared to the 19 states analyzed in the report) with more than 2.7 million at-risk homes across five risk categories (Category 1 – Category 5 storms). Louisiana ranks second with more than 817,000 at-risk homes, while Texas ranks third with more than 543,000 at-risk homes. A major storm did not strike Louisiana in 2017, but Florida and Texas are still recovering from Hurricanes Irma and Harvey, respectively. "Delinquency rates are nearing historic lows, except in areas impacted by extreme weather over the past 18 months, reflecting a long period of strict underwriting practices and improved economic conditions," said Frank Martell, president and CEO of CoreLogic. "Last year's hurricanes and wildfires continue to affect today's default rates. The percent of loans 90 days or more delinquent or in foreclosure are more than double what they were before last autumn's hurricanes in Houston, Texas and Naples, Florida. The 90-day-plus delinquent or in-foreclosure rate has also quadrupled in Puerto Rico." For ongoing housing trends and data, visit the CoreLogic Insights Blog. About CoreLogic CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 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, and the public sector. 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 North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.

Redfin Survey: 36% of Millennial Homebuyers Took a Second Job to Save for Down Payment; 10% Sold Cryptocurrency
Millennial Homebuyer Survey Shows Struggle for Affordability SEATTLE, June 28, 2018 -- The top concern among first-time millennial homebuyers is having enough money for a down payment, according to Redfin, the next-generation real estate brokerage. In March, Redfin commissioned a survey of 2,000 U.S. residents who planned to buy or sell a primary residence in the next 12 months. Redfin's latest analysis focuses on the more than 500 respondents between the agents of 24 and 38 who said they planned to buy their first home in the coming year. Fifty percent cited having enough money for a down payment as their top concern about buying a home, followed by affording a home in their preferred location (45%) and rising home prices (41%). Aside from the 69 percent who saved directly from paychecks, millennials used several tactics and sources to accumulate the money needed for a down payment on their first home. Thirty-six percent used earnings from a second job, 13 percent pulled money out of retirement funds early and 10 percent sold cryptocurrency. Some were lucky enough to have received a cash gift from their family (24%) or an inheritance (12%). When broken down by household income levels, there were some notable differences in how millennials achieved a down payment. Millennials in households earning more than $100,000 per year were less likely than those earning less to have saved directly from paychecks, with 60 percent of high-earners having done so, compared with 75 percent of those who earn less than $100,000. Millennial households earning more than $100,000 were more than three times more likely than their less-well-off peers to have sold cryptocurrency investments and twice as likely to have sold stock investments. They were also more likely to have received an inheritance or cash gift from family or to have dipped into their retirement savings. "For millennials who have launched their careers while working to pay off student loans in the last decade, having enough to set aside toward a down payment would have been a significant accomplishment," said Sheharyar Bokhari, senior economist at Redfin. "These results reveal some of the inequalities that have been exacerbated in the years following the recession, with the well-off having more flexibility and thereby ability to become homeowners and build more wealth, through advantages like financial support from family and the opportunity to invest in the stock market." To afford a mortgage, 65 percent of millennials who intend to buy their first home this year plan to take some action, aside from just paying from their regular paychecks: 32% plan to pursue additional employment 19% intend to rent out a room to someone they know 15% say they will drive for a ride-sharing service 14% plan to split ownership of the home with friends or roommates Again, there were some surprises in the responses when broken down by income. Lower-income millennials were more likely than those earning more than $100,000 per year to say they planned to pursue additional employment to cover their mortgage. Those with higher incomes were more than three times as likely to get a roommate they don't know. High-earners were also more likely to say they will split ownership with friends or drive for a ride-sharing service. To read the full report, complete with charts showing more data breakdowns, please click here. About Redfin Redfin is the next-generation real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer's favor. Founded by software engineers, Redfin has the country's #1 brokerage website and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry's lowest published error rate for listed homes. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 80 major metro areas across the U.S. The company has closed more than $60 billion in home sales.

CoreLogic Reports Home Equity Gains Topped $1 Trillion in the First Quarter of 2018
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the Home Equity Report for the first quarter of 2018, which shows that U.S. homeowners with mortgages (which account for roughly 63 percent of all properties) have seen their equity increase 13.3 percent year over year, representing a gain of $1.01 trillion since the first quarter of 2017. Additionally, the average homeowner gained $16,300 in home equity between the first quarter of 2017 and the first quarter of 2018. While home equity grew nationwide, western states experienced the largest increase. Washington homeowners gained an average of approximately $44,000 in home equity, and California homeowners gained an average of approximately $51,000 in home equity (Figure 1). From the fourth quarter of 2017 to the first quarter of 2018, the total number of mortgaged homes in negative equity decreased 3 percent to just under 2.5 million homes or 4.7 percent of all mortgaged properties. Negative equity decreased 21 percent year over year from 3.1 million homes – or 6.1 percent of all mortgaged properties – in the first quarter of 2017. "Home-price growth has accelerated in recent months, helping to build home-equity wealth and lift underwater homeowners back into positive equity the primary driver of home equity wealth creation," said Dr. Frank Nothaft, chief economist for CoreLogic. "The CoreLogic Home Price Index grew 6.7 percent during the year ending March 2018, the largest 12-month increase in four years. Likewise, the average growth in home equity was more than $15,000 during 2017, the most in four years. Washington led all states with 12.8 percent appreciation, and its homeowners also had much larger home-equity gains than the national average." Negative equity, often referred to as being underwater or upside down, applies to borrowers who owe more on their mortgages than their homes are worth. Negative equity can occur because of a decline in a home's value, an increase in mortgage debt or both. Negative equity peaked at 26 percent of mortgaged residential properties in the fourth quarter of 2009, based on the CoreLogic equity data analysis which began in the third quarter of 2009. The national aggregate value of negative equity was approximately $284.8 billion at the end of the first quarter of 2018. This is up quarter over quarter by approximately $100 million, from $284.7 billion in the fourth quarter of 2017. "Home equity balances continue to grow across the nation," said Frank Martell, president and CEO of CoreLogic. "In the far Western states, equity gains are fueled by a long run in home price escalation. With strong economic growth and higher purchase demand, we expect these trends to continue for the foreseeable future." For ongoing housing trends and data, visit the CoreLogic Insights Blog: https://www.corelogic.com/insights-index.aspx. About CoreLogic CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 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, and the public sector. 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 North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.

Bank of America Transforms Home Buying with New Digital Mortgage Experience
Report Finds Homebuyers Ready and Waiting for "NextGen" Tools; More Comfortable With a Digital Mortgage Than Online Dating Bank of America's Digital Mortgage Experience™, launched this week, seamlessly guides clients through the mortgage process via the bank's award-winning mobile banking and online platforms. With advanced application prefill capabilities, clients can apply for a mortgage through the mobile banking app or online at bankofamerica.com and immediately have many aspects of their mortgage application auto-populated, significantly reducing time and effort (see how it works here). In many cases, clients will receive a conditional approval that very same day. "Everything we do starts and ends with clients, and the Digital Mortgage Experience is designed to make their lives simpler," said D. Steve Boland, head of consumer lending at Bank of America. "Our new end-to-end experience empowers clients with complete convenience and control, while also offering unique access to lending experts every step of the way." The new experience responds to the growing demand and increasing comfort consumers have with using digital tools in every aspect of their lives – from managing finances to dating. In fact, a recent survey by Bank of America shows that consumers are actually more comfortable applying for a mortgage digitally than dating online. The introduction of the Digital Mortgage Experience is the latest of the bank's digital lending offerings, which include the recent broad availability of its mobile car shopping tool that enables clients to search 1 million cars in inventory from more than 2,400 auto dealers nationwide. In addition, Bank of America small business clients can apply for a Business Advantage Term Loan or Business Advantage Credit Line from the Bank of America mobile banking app and bankofamerica.com, which offer a loan product tool that helps small business clients find the right loan for their needs, and a monthly loan payment calculator. To complement these high-tech capabilities, clients can receive guidance and advice about their lending needs from the bank's approximately 5,200 home, auto, personal and business loan officers. "The new Digital Mortgage Experience is about making things easy, intuitive, simple and fast," said Michelle Moore, head of digital banking at Bank of America. "It's the latest example of our high-tech, high-touch approach to serving clients – we designed the Digital Mortgage Experience by listening to our customers, understanding their needs, and delivering the full experience to them right in our award-winning mobile app." Inside the experience Beyond the flexibility to apply for a mortgage whenever, wherever and however consumers want, the Digital Mortgage Experience provides full customization throughout the process to best fit users' unique needs, including: Access to lending specialists – With just one click or a phone call, clients can consult a professional lending specialist every step of the way. Lending specialists can even pick up an in-progress application and assist the client in completing it. Personalized loan terms – Users can consider a variety of loan options and combinations and select the features that matter most to them, including flexible monthly payments, closing costs and loan terms. Ability to lock interest rates – Users can lock their rate or leave it open to lock later. Flexible application process – Clients have the ability to save an in-progress application and return to it at a later time. Seamless integration with Home Loan Navigator® – Once submitted, users integrate with Home Loan Navigator to track their loan, view action items, upload documents, and review and acknowledge disclosures, all from their mobile device. NextGen homebuying The new Bank of America Homebuyer Insights Report shows consumers have been longing for more digital solutions in the mortgage space, as more Americans would be comfortable applying for a mortgage digitally (32 percent) than dating online (20 percent). Furthermore, 52 percent of respondents would apply or have already applied for a mortgage via mobile or online. In its third year, the report finds technology and homebuying are becoming inseparable. Nearly all first-time buyers feel technology will play a role during every stage of homebuying, including researching (98 percent), getting a mortgage (94 percent), and negotiating and buying (92 percent). Perhaps this is because Americans are most likely to seek a homebuying experience that is efficient (64 percent), simple (59 percent) and personalized (51 percent). The adoption of these technologies appears to be a thing of today, not tomorrow. Many consumers report they are already comfortable using emerging technologies throughout the homebuying process, specifically using a real estate app (78 percent), taking a video tour of a home (48 percent) and attending an open house using virtual reality (36 percent). Looking ahead to the next 10 years, Americans believe: Smart home and energy-efficient features will be standard in new construction (67 percent). Mortgage applications will be entirely paperless (55 percent). Open houses will only be through virtual reality (24 percent). All appraisals will be done via drones (6 percent). To learn more about the Digital Mortgage Experience and download multimedia, visit bankofamerica.com. For additional information about the Bank of America Homebuyer Insights Report, click here.

Millennial Buyers Feel the Brunt of Rate and Price Hikes
Debt and smaller down payments leave millennials vulnerable to an already challenging market SANTA CLARA, Calif., April 4, 2018 -- As interest rates and home prices continue to rise, millennial home buyers are more likely than older buyers to adjust what they are shopping for, according to a new survey released today from realtor.com®, a leading online real estate destination. Two factors contributing to this market sensitivity are millennials' likelihood to carry more student loan and other debt and put less down than other buyers. According to the online survey of more than 1,000 active buyers conducted in March by Toluna Research, 79 percent and 83 percent of respondents of all ages, respectively, said rising interest rates and home prices will impact their home search. That rises to 92 and 93 percent for buyers ages 18 to 34 years old. Only 17 percent and 21 percent of all buyers indicated prices and rates would have no impact. "Existing debt and lower down payments leave younger shoppers more exposed than others to the impact of rising mortgage rates and record-high home prices," said Danielle Hale, chief economist for realtor.com®. "These obstacles won't prevent millennials from finding and buying homes, but most will have to adapt to these challenging market conditions by adjusting their home search." Rising prices and interest rates impact the majority of buyers When asked how their search would be impacted by rising prices, 41 percent indicated they have to buy a smaller home, 35 percent need to look for a less expensive home, 34 percent have to look in a different neighborhood, 33 percent need to put down a larger down payment, and 31 percent have to increase their monthly mortgage budget. Survey data also shows rising rates have a greater impact on millennials than on buyers 55 years or older. As a result of rising rates, 37 percent of millennials said that they have to look for a less expensive home, compared to 24 percent of buyers 55 and older. Thirty-five percent of millennials have to look in a different neighborhood, compared to 18 percent of those 55+. Thirty-three percent of millennials have to look for a smaller home, compared to 23 percent of boomers. Millennial buyers carry more debt than others Millennial buyers are also more likely to report carrying each of the seven categories of debt realtor.com® inquired about – often by a significant margin. Of those between the ages of 18 and 34 years old, 78 percent have credit card debt, 68 percent have a car loan, 62 percent have a personal loan, 62 percent have mortgage debt, 57 percent have home equity loans, and 61 percent have student loans. This is notably higher than 35-54 years old who reported: 72 percent credit card debt, 59 percent car loan, 55 percent have a personal loan, 60 percent mortgage debt, 49 percent home equity loan, and 49 percent student loans. Or those 55+ who indicated: 45 percent credit card debt, 30 percent car loan, 12 percent personal loan, 32 percent mortgage debt, 11 percent home equity loans and 9 percent student loans. Millennials put the least amount down When all respondents were asked how much cash they are planning to put down on their purchase, 32 percent indicated they are putting down less than 10 percent of their purchase price. Seventeen percent said 16 to 20 percent of the price and 15 percent indicated 11 to 15 percent of the purchase price. A down payment of less than 10 percent was most common for the millennial generation with 37 percent of buyers aged 18-34 reporting this. They were followed by 34 percent of 35-54 year-olds and 20 percent of those 55 years or older. Millennials were also the least likely to put more than 20 percent of their purchase price down with roughly one in four among 18 to 34 year-olds putting more than 20 percent down, followed by one in three among 35 to 54 year-olds, and one in two among 55+ buyers. Full results are available here. Realtor.com® also recently surveyed house hunters about what they are looking for in a home. It also surveyed buyers about the hotly competitive spring buying season. About realtor.com® Realtor.com® is the trusted resource for home buyers, sellers and dreamers, offering the most comprehensive source of for-sale properties, among competing national sites, and the information, tools and professional expertise to help people move confidently through every step of their home journey. It pioneered the world of digital real estate 20 years ago, and today helps make all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.

Capsilon Taps Ginger Wilcox as Senior Vice President of Marketing
Startup Veteran and Industry Innovator to Elevate Brand Awareness and Accelerate Growth in 2018 SAN FRANCISCO, February 14, 2018--Capsilon, the leading partner for delivering a cloud-based end-to-end digital mortgage solution, announced today that it has tapped Ginger Wilcox as SVP Marketing, where she will be responsible for leading marketing, brand positioning and growth for all Capsilon products. A startup veteran and recognized leader in the mortgage, real estate and technology industries, Wilcox was most recently part of the team that launched digital mortgage startup Sindeo. As CMO and Chief Industry Officer, Wilcox led brand marketing, customer acquisition, communications and strategic partnerships. "Ginger is a proven marketing and growth leader with a track record of success in top-performing mortgage, real estate and software companies and is one of the most-connected people in the housing industry," said Sanjeev Malaney, Founder and CEO, Capsilon. "Her expertise in building strong brands and strategic partnerships in high growth environments will be a tremendous asset as we accelerate our growth in 2018." Joining Capsilon presents a very exciting opportunity for Wilcox to build brand awareness for a FinTech company that already has built a platform to deliver a true end-to-end digital mortgage. Using Capsilon, the company's customers, which include the industry's leading retail, wholesale and correspondent lenders, as well as mortgage servicers, are able to close loans up to five times faster and reduce labor costs by as much as 50%. While there are a number of vendors offering borrower-friendly digital loan applications, Capsilon is the first to bring to market a truly innovative mortgage process that improves the borrower and loan officer experience from application to closing and reduces the massive staffing costs that lenders ultimately have to pass on to the borrower. Wilcox joins a seasoned and successful management team with significant mortgage, SaaS and FinTech industry expertise, including top executives from Oracle, IBM, iTradeNetwork, and Quantros. Capsilon continues to grow quickly with over 450 team members around the world. Read why Ginger joined Capsilon, in her own words. About Capsilon Headquartered in San Francisco, Capsilon is a leading provider of enterprise SaaS products, Capsilon serves more than 150 of the mortgage industry's most innovative companies, including three of the 10 largest residential mortgage lenders in the United States. For more information, visit www.capsilon.com.

CoreLogic Reports Early-Stage Mortgage Delinquencies Increased Following Active Hurricane Season
January 09, 2018, Irvine, Calif. – CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report which shows that, nationally, 5.1 percent of mortgages were in some stage of delinquency (30 days or more past due including those in foreclosure) in October 2017. This represents a 0.1 percentage point year-over-year decline in the overall delinquency rate compared with October 2016 when it was 5.2 percent. As of October 2017, the foreclosure inventory rate, which measures the share of mortgages in some stage of the foreclosure process, was 0.6 percent, down 0.2 percentage points from 0.8 percent in October 2016. The foreclosure inventory rate has held steady at 0.6 percent since August 2017, the lowest level since June 2007 when it was also at 0.6 percent. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To monitor mortgage performance comprehensively, CoreLogic examines all stages of delinquency as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next. The rate for early-stage delinquencies, defined as 30-59 days past due, was 2.3 percent in October 2017, down 0.1 percentage points from 2.4 percent in September 2017 and up 0.1 percentage points from 2.2 percent in October 2016. The share of mortgages that were 60-89 days past due in October 2017 was 0.9 percent, up 0.2 percentage points from 0.7 percent in both September 2017 and October 2016. The serious delinquency rate, reflecting loans 90 days or more past due, in October 2017 was 1.9 percent, unchanged from September 2017 and down 0.4 percentage points from 2.3 percent in October 2016. The 1.9 percent serious delinquency rate in June, July, August, September and October of this year marks the lowest level for any month since it was also 1.9 percent in October 2007. "After rising in September, early-stage delinquencies declined by 0.1 percentage points month over month in October. The temporary rise in September's early-stage delinquencies reflected the impact of the hurricanes in Texas, Florida and Puerto Rico, but now the impact from the hurricanes is fading from a national perspective," said Dr. Frank Nothaft, chief economist for CoreLogic. "While the national impact is waning, the local impact remains. Some Florida markets continue to see increases in early-stage delinquency transition rates in October, reaching 5 percent, on average, in Miami, Orlando, Tampa, Naples and Cape Coral. Texas markets such as Houston, Beaumont, Victoria and Corpus Christie peaked at over 7 percent in September, but are on the mend and improving in October." Since early-stage delinquencies can be volatile, CoreLogic also analyzes transition rates. The share of mortgages that transitioned from current to 30 days past due was 1.1 percent in October 2017, down from 1.3 percent in September 2017 and up from 1 percent in October 2016. By comparison, in January 2007, just before the start of the financial crisis, the current-to-30-day transition rate was 1.2 percent and it peaked in November 2008 at 2 percent. "While the national impact of the recent hurricanes will soon fade, the human impact will remain for years. For example, the displacement and rebuilding in New Orleans after Hurricane Katrina extended for several years and altered the character of the city, an impact that still remains today," said Frank Martell, president and CEO of CoreLogic. "The reconstruction of the housing stock and infrastructure impacted by the storms should provide a small stimulus to local economies. This rebuilding will occur against a backdrop of wage growth, consumer confidence and spending in the national economy which should continue to provide a solid foundation for real estate demand in the storm-impacted areas and beyond." For ongoing housing trends and data, visit the CoreLogic Insights Blog: www.corelogic.com/blog. Methodology The data in this report represents foreclosure and delinquency activity reported through September 2017. The data in this report accounts for only first liens against a property and does not include secondary liens. The delinquency, transition and foreclosure rates are measured only against homes that have an outstanding mortgage. Homes without mortgage liens are not typically subject to 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. About CoreLogic CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 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, and the public sector. 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 North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.

CoreLogic Analysis Shows Mortgage Credit Risk Increased from Q3 2016 to Q3 2017
Credit Risk for New Loans in 2017 Similar to Loans Issued in Early 2000s December 19, 2017, Irvine, Calif. – CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its Q3 2017 CoreLogic Housing Credit Index (HCI™) which measures trends in six home mortgage credit risk attributes. The HCI indicates the relative increase or decrease in credit risk for new home loan originations compared to prior periods. The six attributes include borrower credit score, debt-to-income ratio (DTI), loan-to-value ratio (LTV), investor-owned status, condo/co-op share and documentation level. In Q3 2017, the HCI increased to 111.1, up 18 points from 93.1 in Q3 2016. Even with this increase, credit risk in Q3 2017 is still within the benchmark range of the HCI. The benchmark range of 90 to 121 is measured as within one standard deviation of the average HCI value for 2001-2003, considered to be the normal baseline for credit risk. The increase in the credit risk, as measured by the HCI during the past year, was partly due to a shift in the purchase-loan mix to more investor loans and to a shift in the refinance-loan mix to borrowers with lower credit scores and higher DTI. This trend for refinance loans may reflect the rise in the FHA-to-conventional share of refinance activity. "The CoreLogic Housing Credit Index is up compared to a year ago, in part reflecting a shift in the mix of loans to the purchase market, which typically exhibit higher risk," said Dr. Frank Nothaft, chief economist for CoreLogic. "Further, the Index shows higher risk attributes for both purchase and refinance loans, although the risk levels still remain similar to the early 2000s. When looking at the two most recent quarters in which the mix of purchase and refinance loans were similar, the CoreLogic Housing Credit Index for each segment remained stable. Looking forward to 2018, with continuing economic and home price growth, we expect credit-risk metrics to rise modestly." HCI highlights for the six Index attributes for Q3 2017: Credit Score: The average credit score for homebuyers increased 7 points year over year between Q3 2016 and Q3 2017, rising from 739 to 746. In Q3 2017, the share of homebuyers with credit scores under 640 was 2 percent compared with 25 percent in 2001. In other words, the Q3 2017 share was less than one-tenth of the share in 2001. Debt-to-Income: The average DTI for homebuyers in Q3 2017 was unchanged from Q3 2016 at 36. In Q3 2017, the share of homebuyers with DTIs greater than or equal to 43 percent was 22 percent, down slightly from 24 percent in Q3 2016, but up from 18 percent in 2001. Loan-to-Value: The LTV for homebuyers dropped by almost 2 percentage points year over year, down from 86.4 percent in Q3 2016 to 84.9 percent in Q3 2017. In Q3 2017, the share of homebuyers with an LTV greater than or equal to 95 percent had increased by almost one-third compared with 2001. Investor Share: The investor share of home-purchase loans increased slightly from 4 percent in Q3 2016 to 4.4 percent in Q3 2017. Condo/Co-op Share: The share of home-purchase loans secured by a condominium or co-op building increased from 10 percent in Q3 2016 to 11.5 percent in Q3 2017. Documentation Type: Low- or no-documentation loans remained a small part of the mortgage market in Q3 2017, increasing from 1.5 percent to 2.2 percent of home-purchase loans during the past year. Methodology The CoreLogic Housing Credit Index (HCI) measures the variation in mortgage credit risk attributes and uses loan attributes from mortgage loan servicing data that are combined in a principal component analysis (PCA) model. PCA can be used to reduce a complex data set (e.g., mortgage loan characteristics) to a lower dimension to reveal properties that underlie the data set. The HCI combines six mortgage credit risk attributes, including borrower credit score, loan-to-value (LTV) ratio, debt-to-income (DTI) ratio, documentation level (full documentation of a borrower's economic conditions or incomplete levels of documentation, including no documentation), status of investor-owned (whether property is a non-owner-occupied investment or owner-occupied primary residence and second home) and property type (whether property is a condominium or co-op). It spans more than 15 years and covers all loan products in both the prime and subprime lending segments and includes all 50 states and the District of Columbia, permitting peak-to-peak and trough-to-trough business cycle comparisons across the U.S. The CoreLogic Loan-Level Market Analytics data includes loan-level information, both current and historical, from servicers on active first-lien mortgages in the U.S., and the Non-Agency Residential Mortgage Backed Securities (RMBS) data includes loan-level information from the securitizers. In addition, CoreLogic public records data for the origination share by loan type (conventional conforming, government, jumbo) were used to adjust the combined servicing and securities data to assure that it reflects primary market shares. These changes across different dimensions are reflected in the HCI. A rising HCI indicates increasing credit risk, while a declining HCI indicates decreasing credit risk. About CoreLogic CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 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, and the public sector. 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 North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.

CoreLogic Reports September Mortgage Delinquency Rates Lowest in More Than a Decade
December 12, 2017, Irvine, Calif. – CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report which shows that, nationally, 5 percent of mortgages were in some stage of delinquency (30 days or more past due including those in foreclosure) in September 2017. This represents a 0.2 percentage point year-over-year decline in the overall delinquency rate compared with September 2016 when it was 5.2 percent. As of September 2017, the foreclosure inventory rate, which measures the share of mortgages in some stage of the foreclosure process, was 0.6 percent, down from 0.8 percent in September 2016. Both August and September of this year experienced the lowest foreclosure inventory rate since June 2007 when it was also 0.6 percent, and the September foreclosure inventory rate was the lowest for the month of September in 11 years when it was 0.5 percent in September 2006. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To monitor mortgage performance comprehensively, CoreLogic examines all stages of delinquency as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next. The rate for early-stage delinquencies, defined as 30-59 days past due, was 2.4 percent in September 2017, up 0.3 percentage points from 2.1 percent in September 2016. The share of mortgages that were 60-89 days past due in September 2017 was 0.7 percent, unchanged from September 2016. The serious delinquency rate, those that are 90 days or more past due, declined 0.4 percentage points year over year from 2.3 percent in September 2016 to 1.9 percent in September 2017. The 1.9 percent serious delinquency rate in June, July, August and September of this year marks the lowest level for any month since October 2007 when it was also 1.9 percent, and is also the lowest for the month of September since 2007 when the serious delinquency rate was 1.8 percent. "September's early-stage delinquency rate increased by 0.3 percent from a year ago, the largest increase since June 2009. This does not reflect a deterioration in credit, but rather the impact of the hurricanes in Texas, Florida and Puerto Rico," said Dr. Frank Nothaft, chief economist for CoreLogic. "September's early-stage delinquency transition rate rose to 2.6 percent in Texas and it rose to 3.2 percent in Florida, which is higher than the 1 percent that's typical for both states. Texas and Florida's early-stage delinquency transition rates in September are much lower than New Orleans in September 2005 when the transition rate reached 17.4 percent as a result of Hurricane Katrina." Since early-stage delinquencies can be volatile, CoreLogic also analyzes transition rates. The share of mortgages that transitioned from current to 30 days past due was 1.3 percent in September 2017, up from 0.9 percent in September 2016. The September rate was the highest for any month in nearly three years, since November 2014 when it was 1.4 percent. By comparison, in January 2007, just before the start of the financial crisis, the current-to-30-day transition rate was 1.2 percent and it peaked in November 2008 at 2 percent. "While natural hazard risk was elevated in 2017, the economic fundamentals that drive mortgage credit performance are the best in two decades," said Frank Martell, president and CEO of CoreLogic. "The combination of strong job growth, low unemployment rates, steady economic performance and prudent underwriting has led to continued improvement in mortgage performance heading into next year." For ongoing housing trends and data, visit the CoreLogic Insights Blog. About CoreLogic CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 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, and the public sector. 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 North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.

CoreLogic Reports Mortgage Delinquency Rates Lowest in More Than a Decade
November 14, 2017, Irvine, Calif. – CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report which shows that, nationally, 4.6 percent of mortgages were in some stage of delinquency (30 days or more past due including those in foreclosure) in August 2017. This represents a 0.6 percentage point year-over-year decline in the overall delinquency rate compared with August 2016 when it was 5.2 percent. As of August 2017, the foreclosure inventory rate, which measures the share of mortgages in some stage of the foreclosure process, was 0.6 percent, down from 0.9 percent in August 2016. This was the lowest foreclosure inventory rate for the month of August in 11 years since August 2006 when it was 0.5 percent. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To monitor mortgage performance comprehensively, CoreLogic examines all stages of delinquency as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next. The rate for early-stage delinquencies, defined as 30-59 days past due, was 2 percent in August 2017, down slightly from 2.1 percent in August 2016. The share of mortgages that were 60-89 days past due in August 2017 was 0.7 percent, unchanged from August 2016. The serious delinquency rate (90 days or more past due) declined 0.5 percentage points year over year from 2.4 percent in August 2016 to 1.9 percent in August 2017. The 1.9 percent serious delinquency rate in June, July and August of this year marks the lowest level for any month since October 2007 when it was also 1.9 percent, and is also the lowest for the month of August since 2007 when the serious delinquency rate was 1.7 percent. Alaska was the only state to experience a year-over-year increase in its serious delinquency rate in August 2017. "The effect of the drop in crude oil prices since 2014 has taken a toll on mortgage loan performance in some markets," said Dr. Frank Nothaft, chief economist for CoreLogic. "Crude oil prices this August were less than half their level three years ago. This has led to oil-related layoffs and an increase in loan delinquency rates in states like Alaska and in oil-centric metro areas like Houston." Since early-stage delinquencies can be volatile, CoreLogic also analyzes transition rates. The share of mortgages that transitioned from current to 30-days past due was 0.9 percent in August 2017, unchanged from August 2016. By comparison, in January 2007 just before the start of the financial crisis, the current-to-30-day transition rate was 1.2 percent and it peaked in November 2008 at 2 percent. "Serious delinquency and foreclosure rates are at their lowest levels in more than a decade, signaling the final stages of recovery in the U.S. housing market," said Frank Martell, president and CEO of CoreLogic. "As the construction and mortgage industries move forward, there needs to be not only a ramp up in homebuilding, but also a focus on maintaining prudent underwriting practices to avoid repeating past mistakes." For ongoing housing trends and data, visit the CoreLogic Insights Blog. Methodology The data in this report represents foreclosure and delinquency activity reported through August 2017. The data in this report accounts for only first liens against a property and does not include secondary liens. The delinquency, transition and foreclosure rates are measured only against homes that have an outstanding mortgage. Homes without mortgage liens are not typically subject to 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. About CoreLogic CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 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, and the public sector. 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 North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.

CoreLogic Reports Serious Delinquency Rate for Home Loans Holds Steady at a Near 10-Year Low
October 10, 2017, Irvine, Calif. – CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report which shows that, nationally, 4.6 percent of mortgages were in some stage of delinquency (30 days or more past due including those in foreclosure) in July 2017. This represents a 0.9 percentage point year-over-year decline in the overall delinquency rate compared with July 2016 when it was 5.5 percent. As of July 2017, the foreclosure inventory rate, which measures the share of mortgages in some stage of the foreclosure process, was 0.7 percent, down from 0.9 percent in July 2016 and the lowest since the rate was also 0.7 percent in July 2007. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To monitor mortgage performance comprehensively, CoreLogic examines all stages of delinquency as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next. The rate for early-stage delinquencies, defined as 30-59 days past due, was 2 percent in July 2017, down slightly from 2.3 percent in July 2016. The share of mortgages that were 60-89 days past due in July 2017 was 0.7 percent, unchanged from July 2016. The serious delinquency rate (90 days or more past due) declined from 2.5 percent in July 2016 to 1.9 percent in July 2017 and remains near the 10-year low of 1.7 percent reached in July 2007. Alaska was the only state to experience a year-over-year increase in its serious delinquency rate. "While the U.S. foreclosure rate remains at a 10-year low as of July, the rate across the 100 largest metro areas varies from 0.1 percent in Denver to 2.2 percent in New York," said Dr. Frank Nothaft, chief economist for CoreLogic. "Likewise, the national serious delinquency rate remains at 1.9 percent, unchanged from June, and when analyzed across the 100 largest metros, rates vary from 0.6 percent in Denver to 4.1 percent in New York." Since early-stage delinquencies can be volatile, CoreLogic also analyzes transition rates. The share of mortgages that transitioned from current to 30-days past due was 0.9 percent in July 2017, down from 1.1 percent in July 2016. By comparison, in January 2007 just before the start of the financial crisis, the current-to-30-day transition rate was 1.2 percent and it peaked in November 2008 at 2 percent. "Even though delinquency rates are lower in most markets compared with a year ago, there are some worrying trends," said Frank Martell, president and CEO of CoreLogic. "For example, markets affected by the decline in oil production or anemic job creation have seen an increase in defaults. We see this in markets such as Anchorage, Baton Rouge and Lafayette, Louisiana where the serious delinquency rate rose over the last year." For ongoing housing trends and data, visit the CoreLogic Insights Blog. About CoreLogic CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 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, and the public sector. 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 North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.

CoreLogic Reports 2.8 Million Residential Properties with a Mortgage Still in Negative Equity
September 21, 2017, Irvine, Calif. – CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its Q2 2017 home equity analysis which shows U.S. homeowners with mortgages (roughly 63 percent of all homeowners*) have seen their equity increase by a total of 10.6 percent year over year, representing a gain of $766 billion since Q2 2016. Additionally, homeowners gained an average of $12,987 in equity between Q2 2016 and Q2 2017. Western states led the equity increase with Washington homeowners gaining an average of approximately $40,000 in home equity and California homeowners gaining an average of approximately $30,000 in home equity (Figure 1). Home price increases in these states drove the equity gains. From Q1 2017** to Q2 2017, the total number of mortgaged residential properties with negative equity decreased 10 percent to 2.8 million homes, or 5.4 percent of all mortgaged properties.Year over year, negative equity decreased 21.9 percent from 3.6 million homes, or 7.1 percent of all mortgaged properties, from Q2 2016 to Q2 2017. "Over the last 12 months, approximately 750,000 borrowers achieved positive equity," said Dr. Frank Nothaft, chief economist for CoreLogic. "This means that mortgage risk continues to decline and, given the continued strength in home prices, CoreLogic expects home equity to rise steadily over the next year." Negative equity, often referred to as being "underwater" or "upside down," applies to borrowers who owe more on their mortgages than their homes are worth. Negative equity can occur because of a decline in home value, an increase in mortgage debt or both. Negative equity peaked at 26 percent of mortgaged residential properties in Q4 2009 based on CoreLogic equity data analysis, which began in Q3 2009. The national aggregate value of negative equity was approximately $284.4 billion at the end of Q2 2017. This is up quarter over quarter by approximately $200 million, or 0.1 percent, from $284.2 billion in Q1 2017 and down year over year by approximately $700 million, or 0.2 percent, from $285.1 billion in Q2 2016. "Homeowner equity reached $8 trillion in the second quarter of 2017, which is more than double the level just five years ago," said Frank Martell, president and CEO of CoreLogic. "The rapid rise in homeowner equity not only reduces mortgage risk, but also supports consumer spending and economic growth." **Q1 2017 data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results. For ongoing housing trends and data, visit the CoreLogic Insights Blog: http://www.corelogic.com/blog. Methodology The amount of equity for each property is determined by comparing the estimated current value of the property against the mortgage debt outstanding (MDO). If the MDO is greater than the estimated value, then the property is determined to be in a negative equity position. If the estimated value is greater than the MDO, then the property is determined to be in a positive equity position. The data is first generated at the property level and aggregated to higher levels of geography. CoreLogic data includes more than 50 million properties with a mortgage, which accounts for more than 95 percent of all mortgages in the U.S. CoreLogic uses public record data as the source of the MDO, which includes both first-mortgage liens and second liens, and is adjusted for amortization and home equity utilization in order to capture the true level of MDO for each property. The calculations are not based on sampling, but rather on the full data set to avoid potential adverse selection due to sampling. The current value of the property is estimated using a suite of proprietary CoreLogic valuation techniques, including valuation models and the CoreLogic Home Price Index (HPI). In August 2016, the CoreLogic HPI was enhanced to include nearly one million additional repeat sales records from proprietary data sources that provide greater coverage in home price changes nationwide. The increased coverage is particularly useful in 14 non-disclosure states. Additionally, a new modeling methodology has been added to the HPI to weight outlier pairs, ensuring increased consistency and reducing month-over-month revisions. The use of the enhanced CoreLogic HPI was implemented with the Q2 2016 Equity report. Only data for mortgaged residential properties that have a current estimated value are included. There are several states or jurisdictions where the public record, current value or mortgage data coverage is thin and have been excluded from the analysis. These instances account for fewer than 5 percent of the total U.S. population. About CoreLogic CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 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, and the public sector. 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 North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.