CoreLogic data reveals that the rate of Asheville area foreclosures among outstanding mortgage loans was 0.54 percent for January 2016, a decrease of 0.16 percentage points compared with January 2015 when the rate was 0.70 percent. Foreclosure activity in Asheville was lower than the national foreclosure rate, which was 1.15 percent for January 2016.Also in Asheville, the mortgage delinquency rate decreased. According to CoreLogic data for January 2016, 1.97 percent of mortgage loans were 90 days or more delinquent compared with 2.50 percent for the same period last year, representing a decrease of 0.53 percentage points.
Data Notes and Definitions
90+ Day Delinquency Rate: This measures the percentage of loans that are more than 90 days delinquent, including those in foreclosure and REO (real estate owned).
Foreclosure Rate: This measures the percentage of loans in some stage of the foreclosure process. A foreclosure is defined by the legal process by which an owner’s right to a property is terminated, usually due to default. This does not represent the number of new foreclosure filings as provided by other data companies, but rather the current stock, or inventory, of loans in the foreclosure process which offers a comprehensive view of foreclosure trends. CoreLogic has approximately 85 percent coverage of foreclosure data.
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CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled services 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.