National Foreclosure Report

NOVEMBER 2016

In November, the foreclosure inventory was down 2.4 percent from October 2016, representing 61 months of consecutive year-over-year declines.

2.4%

“The decline in serious delinquency has been substantial, but the default rate remains high in select markets. Serious delinquency rates were the highest in New Jersey and New York at 5.6 percent and 5 percent, respectively. In contrast, the lowest delinquency rate occurred in Colorado at 0.9 percent where a strong job market and home-price growth have enabled more homeowners to stay current.”

Frank Nothaft, chief economist at CoreLogic

2© 2017 CoreLogic — Proprietary. This material may not be reproduced in any form without express written permission.

© 2017 CoreLogic — Proprietary. This material may not be reproduced in any form without express written permission. NOVEMBER 2016 3

National Overview through November 2016

► There Were 26,000 Completed Foreclosures Nationally, Down From 35,000 in

November 2015

► Seriously Delinquent Rate Is at 2.5 Percent Lowest Level Since August 2007

► Approximately 333,000 homes in the United States were in some stage of foreclosure

Compared to 465,000 in November 2015

Completed Foreclosures

26K 25.9% 2.4%in November 2016 Decline Year Over Year Compared to October 2016

A CoreLogic® analysis shows 26,000 foreclosures were completed in November 2016, a 25.9 percent year-over-

year decline from 35,000* in November 2015. By comparison, before the decline in the housing market in 2007,

completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006. On a month-over-month*

basis, completed foreclosures were down by 2.4 percent. Completed foreclosures are an indication of the total

number of homes actually lost to foreclosure.

* November 2015 data was revised. Revisions with public records are standard and to ensure accuracy, CoreLogic incorporates newly released data to provide updated results.

National Foreclosure Inventory

30.0% 0.8%Compared to November 2015 Of All Homes with a Mortgage

Approximately 325,000 homes in the United States were in

some stage of foreclosure as of November 2016, compared to

465,000 in November* 2015, a decrease of 30.0 percent. This was

the 61st consecutive month with a year-over-year decline. As of

November 2016, the foreclosure inventory represented 0.8 percent

of all homes with a mortgage, compared to 1.2 percent in

November 2015.

* November 2015 data was revised. Revisions with public records are standard and to ensure accuracy, CoreLogic incorporates newly released data to provide updated results.

“The 7 percent appreciation in home prices through November 2016 has added an average of $12,500 in home-equity wealth per homeowner across the U.S. during the last year. Sustained growth in home prices is clearly bolstering homeowners’ spending power and balance sheets and, as a result, spurring a continued drop in defaults.”

Anand Nallathambi, president and CEO of CoreLogic

THE FORECLOSURE RATE, CURRENTLY AT 0.8 PERCENT, IS BACK TO JUNE 2007 LEVELS.

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Time Series – National Overview

*in Thousands

DEC- 15

JAN- 16

FEB- 16

MAR- 16

APR- 16

MAY- 16

JUN- 16

JUL- 16

AUG- 16

SEP- 16

OCT- 16

NOV- 16

Serious

Delinquency* 1,275 1,275 1,228 1,177 1,152 1,123 1,108 1,103 1,041 1,036 1,028 1,004

-MOM %

Chg in #-1.0% 0.0% -3.8% -4.2% -2.1% -2.5% -1.4% -0.4% -5.6% -0.4% -0.7% -2.4%

-YOY %

Chg in #-21.7% -20.7% -21.5% -20.8% -20.5% -20.9% -19.9% -20.7% -23.8% -23.2% -22.5% -22.1%

Foreclosure

Inventory*467 449 440 423 403 391 371 363 350 340 333 325

-MOM %

Chg in #0.4% -3.9% -1.9% -3.9% -4.8% -3.0% -5.1% -2.1% -3.5% -2.9% -2.0% -2.4%

-YOY %

Chg in #-20.8% -23.1% -22.9% -24.0% -24.1% -24.4% -27.0% -27.6% -29.8% -30.9% -30.4% -30.0%

Completed

Foreclosures*36 39 35 37 37 34 38 29 29 37 30 26

-MOM %

Chg in #2.2% 10.6% -11.4% 7.3% -2.1% -7.6% 11.3% -22.5% -1.2% 27.3% -18.1% -14.1%

-YOY %

Chg in #-15.2% -15.1% -8.2% -12.1% -16.9% -17.5% -7.4% -29.0% -55.0% -5.4% -24.8% -25.9%

-12-Month

Sum*506 499 496 491 483 476 473 461 426 424 414 405

THE FORECLOSURE INVENTORY RECORDED 61 STRAIGHT MONTHS OF DECLINES.

2.5%THE PERCENTAGE

OF MORTGAGES

IN SERIOUS

DELINQUENCY IS

AT 2.5 PERCENT IN

NOVEMBER 2016

© 2017 CoreLogic — Proprietary. This material may not be reproduced in any form without express written permission. NOVEMBER 2016 5

Twenty statesShowed declines of more than 30 percent in year-over-year foreclosure inventory, with Washington (−42.4%) and Florida (−41.8%) experiencing the greatest year-over-year declines

states have an inventory of foreclosed homes lower than the national rate

30

Foreclosure Inventory by State

0.6%

0.7%

0.3%

1.0%

0.3%

0.3% 1.5%

0.2%

0.4%

0.4% 0.4%

0.5%

0.4%

0.6%

1.1%

0.5% 1.0%

0.6%

0.4%

0.6%

0.3%

0.5%

1.0%

0.3%

1.0%1.1%

0.9%

0.4%

0.7% 0.5% 0.5%

1.4%

0.8%

0.5%

0.3%0.7%

1.1%

2.6%

1.7%

1.0%

0.3%

0.4%

0.6%

0.7%

0.3%

1.0%

0.3%

0.3% 1.5%

0.2%

0.4%

0.4% 0.4%

0.5%

0.4%

0.6%

1.1%

0.5%

2.8%

1.0%

0.6%

0.4%

0.6%

0.3%

0.5%

1.0%

0.3%

1.0%1.1%

0.9%

0.4%

0.7% 0.5% 0.5%

1.4%

0.8%

0.5%

0.3%0.7%

1.1%

2.6%

1.7%

1.0%

0.3%

1.7%

1.1%

1.6%1.0%

1.3%

2.8%

1.3%1.1%

0.4%0.4%

0.2%

As of November 2016Source: CoreLogic Market Trends

Four states and the District of Columbia with the highest foreclosure inventory as a percentage of mortgaged homes

4 states + DC with highest foreclosure inventory as a percentage of mortgaged homesnov 2016

1.6%

1.7%

1.7%

2.6%

2.8%

D.C.

Maine

Hawaii

New York

New Jersey

Five states with the lowest foreclosure inventory as a percentage of mortgaged homes

0.3%

0.3%

0.3%

0.3%

0.2%

Utah

Minnesota

California

Arizona

Colorado

5 states with lowest foreclosure inventory as a percentage of mortgaged homesnov 2016

© 2017 CoreLogic — Proprietary. This material may not be reproduced in any form without express written permission. 6

Fifty states posted a year-over-year, double-digit decline in foreclosures.

State Highlights

Percent of Homes in Foreclosure

0% 1% 2% 3% 4% 5%

NJNYMEHI

DCNMFLCTDEOKRI

VTPAOH

ILMDNVMAIN

LAKYSCMSORWV

IAKSAR

WAWITXNCALGASDNDID

NHWYMOTNMTNEVAAKMI

CAUTAZMNCO

Judicial

No

n-Jud

icial

5.19x4.29Click on horizontal Axes>categories in reverse order8.5pt and 5.5ptnov

2016

Source: CoreLogic November 2016

Judicial

Non-Judicial

48,000

31,0

00

25,0

00

22,0

00

20,0

00

FL MI TX OH GA

221 260

375

616 627

DC ND WV AK MT

660

Four states and the District of

Columbia, with the lowest number

of completed foreclosures during

past 12 months* VT and SD were removed from the list for

incomplete data

Five states with the highest number

of completed foreclosures during

past 12 months

These five states account for almost half of completed foreclosures during the past 12 months.

© 2017 CoreLogic — Proprietary. This material may not be reproduced in any form without express written permission. NOVEMBER 2016 7

JUDICIAL STATES FORECLOSURE INVENTORY

FORECLOSURE INVENTORY PCT. CHANGE FROM

A YEAR AGO

COMPLETED FORECLOSURES

(12 MONTHS ENDING

NOVEMBER 2016)

SERIOUS DELINQUENCY

RATE

Florida 1.4% −41.8% 48,494 3.6%

Ohio 1.1% −24.7% 22,271 3.2%

Pennsylvania 1.1% −30.3% 18,451 3.4%

New York 2.6% −24.4% 14,635 5.0%

New Jersey 2.8% −35.6% 13,418 5.6%

Illinois 1.0% −27.3% 12,986 3.0%

Indiana 1.0% −25.2% 12,708 2.9%

South Carolina 0.8% −27.2% 7,395 2.7%

Oregon 0.7% −40.3% 7,102 1.8%

Oklahoma 1.1% −22.5% 7,067 3.1%

Maryland 1.0% −35.4% 5,916 3.5%

Louisiana 1.0% −20.4% 4,765 4.1%

Wisconsin 0.5% −23.7% 4,358 1.7%

Connecticut 1.3% −22.8% 3,856 3.4%

Kentucky 0.9% −25.8% 3,490 2.7%

Kansas 0.6% −26.0% 2,887 2.3%

New Mexico 1.5% −28.0% 1,965 3.3%

Delaware 1.3% −32.9% 1,651 3.5%

Maine 1.7% −11.2% 895 3.7%

Hawaii 1.7% −31.2% 737 3.0%

North Dakota 0.4% 4.6% 260 1.0%

Vermont 1.1% −9.4% . 2.3%

Source: CoreLogic November 2016

State Foreclosure DataJudicial States

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National

Foreclosure Inventory Rate: 0.8%

Foreclosure Inventory Pct. Change from a Year Ago: −30.0%

Completed Foreclosures (12 months ending November 2016): 404,882

Serious Delinquency: 2.5%

Serious Delinquency Pct.Change from a Year Ago: −22.1% YOY

NON−JUDICIAL STATES

FORECLOSURE INVENTORY

FORECLOSURE INVENTORY PCT. CHANGE FROM

A YEAR AGO

COMPLETED FORECLOSURES

(12 MONTHS ENDING

NOVEMBER 2016)

SERIOUS DELINQUENCY

RATE

Michigan 0.3% −34.3% 31,412 1.8%

Texas 0.5% −12.4% 25,414 2.2%

Georgia 0.5% −25.0% 19,552 2.7%

California 0.3% −32.7% 19,141 1.3%

North Carolina 0.5% −29.7% 13,985 2.4%

Virginia 0.3% −26.1% 11,519 1.8%

Tennessee 0.4% −24.5% 11,137 2.7%

Missouri 0.4% −31.1% 10,495 2.1%

Washington 0.6% −42.4% 10,203 1.6%

Alabama 0.5% −27.6% 8,824 3.1%

Arizona 0.3% −29.4% 8,720 1.4%

Massachusetts 1.0% −24.3% 6,450 2.6%

Nevada 1.0% −36.0% 5,820 2.9%

Arkansas 0.6% −36.9% 4,607 3.0%

Minnesota 0.3% −32.0% 4,006 1.3%

Colorado 0.2% −40.9% 3,315 0.9%

Iowa 0.6% −31.5% 2,846 1.8%

Idaho 0.4% −38.2% 2,316 1.3%

Utah 0.3% −28.5% 1,903 1.2%

Rhode Island 1.1% −35.3% 1,607 3.3%

New Hampshire 0.4% −30.9% 1,452 1.7%

Nebraska 0.4% −22.7% 1,239 1.5%

Mississippi 0.7% −19.3% 873 4.2%

Wyoming 0.4% −18.3% 812 1.9%

Montana 0.4% −22.7% 627 1.2%

Alaska 0.3% −3.8% 616 1.1%

West Virginia 0.7% −2.8% 375 2.9%

District of Columbia 1.6% −30.5% 221 3.0%

South Dakota 0.5% −19.5% . 1.4%

Source: CoreLogic November 2016

State Foreclosure DataNon-Judicial States

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National

Foreclosure Inventory Rate: 0.8%

Foreclosure Inventory Pct. Change from a Year Ago: −30.0%

Completed Foreclosures (12 months ending November 2016): 404,882

Serious Delinquency: 2.5%

Serious Delinquency Pct.Change from a Year Ago: −22.1% YOY

METROPOLITAN AREA FORECLOSURE INVENTORY

FORECLOSURE INVENTORY PCT. CHANGE FROM

A YEAR AGO

COMPLETED FORECLOSURES

(12 MONTHS ENDING

NOVEMBER 2016)

SERIOUS DELINQUENCY

RATE

New York-Jersey City-White Plains, NY-NJ 2.5% −29.1% 7,172 4.7%

Chicago-Naperville-Arlington Heights, IL 1.1% −29.6% 5,758 3.3%

Miami-Miami Beach-Kendall, FL 2.1% −35.1% 5,062 5.1%

Houston-The Woodlands-Sugar Land, TX 0.6% 8.3% 4,690 2.3%

Las Vegas-Henderson-Paradise, NV 1.1% −35.6% 4,650 3.2%

Washington-Arlington-Alexandria, DC-VA-

MD-WV0.7% −30.7% 3,762 2.4%

Los Angeles-Long Beach-Glendale, CA 0.3% −31.7% 3,359 1.4%

Boston, MA 0.9% −27.5% 1,351 2.4%

Denver-Aurora-Lakewood, CO 0.2% −43.8% 763 0.8%

San Francisco-Redwood City-South San

Francisco, CA0.1% −38.0% 152 0.5%

Source: CoreLogic November 2016

Metropolitan Area HighlightsForeclosure Data for the Largest Core Based Statistical Areas (CBSAs)

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© 2017 CoreLogic — Proprietary. This material may not be reproduced in any form without express written permission. NOVEMBER 2016 11

National Foreclosure Report Methodology

The data in this report represents foreclosure activity reported through November 2016.

This report separates state data into judicial versus non-judicial foreclosure state categories. In judicial foreclosure states, lenders must provide evidence to the courts of delinquency in order to move a borrower into foreclosure. In non-judicial foreclosure states, lenders can issue notices of default directly to the borrower without court intervention. This is an important distinction since judicial states, as a rule, have longer foreclosure timelines, thus affecting foreclosure statistics.

A completed foreclosure occurs when a property is auctioned and results in the purchase of the home at auction by either a third party, such as an investor, or by the lender. If the home is purchased by the lender, it is moved into the lender’s real estate-owned (REO) inventory. In “foreclosure by advertisement” states, a redemption period begins after the auction and runs for a statutory period, e.g., six months. During that period, the borrower may regain the foreclosed home by paying all amounts due as calculated under the statute. For purposes of this Foreclosure Report, because so few homes are actually redeemed following an auction, it is assumed that the foreclosure process ends in “foreclosure by advertisement” states at the completion of the auction.

The foreclosure inventory represents the number and share of mortgaged homes that have been placed into the process of foreclosure by the mortgage servicer. Mortgage servicers start the foreclosure process when the mortgage reaches a specific level of serious delinquency as dictated by the investor for the mortgage loan. Once a foreclosure is “started,” and absent the borrower paying all amounts necessary to halt the foreclosure, the home remains in foreclosure until the completed foreclosure results in the sale to a third party at auction or the home enters the lender’s REO inventory. The data in this report accounts for only first liens against a property and does not include secondary liens. The foreclosure inventory is measured only against homes that have an outstanding mortgage. Generally, homes with no mortgage liens are not 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.

SOURCE: CORELOGIC

The data provided is for use only by the primary recipient or the primary recipient’s publication or broadcast. This data may not be re-sold, republished or licensed to any other source, including publications and sources owned by the primary recipient’s parent company without prior written permission from CoreLogic. Any CoreLogic data used for publication or broadcast, in whole or in part, must be sourced as coming from CoreLogic, a data and analytics company. For use with broadcast or web content, the citation must directly accompany first reference of the data. If the data is illustrated with maps, charts, graphs or other visual elements, the CoreLogic logo must be included on screen or website. Data provided may not be modified without the prior written permission of CoreLogic. Do not use the data in any unlawful manner. This data is compiled from public records, contributory databases and proprietary analytics, and its accuracy is dependent upon these sources.

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.

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