U.S. Foreclosure Inventory Increases 9 Percent From Year Ago in First Quarter

Judicial States Lead Increase While Majority of Non-Judicial States PostDecreases
   35 Percent Vacated by Homeowner, Pre-1960 InventoryFastest-Growing

IRVINE, Calif. -March 28, 2013 — RealtyTrac® (www.realtytrac.com), theleading online marketplace for foreclosure properties and real estatedata, today released its  first-ever U.S. Foreclosure InventoryAnalysis, which shows nearly 1.5 million U.S. properties wereactively in the foreclosure process or bank-owned (REO) in  the firstquarter of 2013, up 9 percent from the first quarter of 2012 butstill down 32 percent from the peak of 2.2 million in December2010.

“Delinquent loans that fell into adeep sleep after the robo-signing controversy in late 2010 aregradually coming out of hibernation following the finalization of thenational mortgage settlement in April  2012,” said Daren Blomquist,vice president at RealtyTrac. “The settlement provided some closureregarding accepted foreclosure processing practices, and as a resultlenders have been reviving more of these delinquent loans and pushingthem into foreclosure over the past 12 months, particularly in stateswhere a lengthy court process has resulted in a bigger backlog ofnon-performing loans still in snooze mode.”

Detailsof the entire foreclosure inventory  analysis, along with illustratingcharts, are in a 14-page report available online here or upon request from the media contacts listed below:

High-level findings from theanalysis: 

  • The annual increase inforeclosure inventory at a  national level was caused by a 59 percentjump in pre-foreclosure inventory, while inventory of homes scheduledfor foreclosure auction decreased 25 percent  and inventory ofbank-owned homes decreased 3 percent. 
  • Foreclosure inventory behavior wassplit nearly down  the middle at the state level, with 26 statesposting annual increases in foreclosure inventory and 24 states,along with the District of Columbia, posting annual decreases inforeclosure activity. 
  • Amongproperties actively in the foreclosure  process (excluding bank-ownedproperties), 35 percent were properties identified as vacant or wherethe homeowner had moved. The percentage of owner-vacated foreclosureinventory was 50 percent or higher in severalstates, including Indiana, Oregon, Washington andNevada.  
  • Inventoryof listed foreclosures decreased 43  percent nationwide from a yearago, but inventory of unlisted foreclosures increased 12percent. 
  • Government-backedentities Fannie Mae, Freddie Mac and FHA/HUD accounted for thebiggest portion of foreclosure inventory, with a combined 12 percentof the national total, followed by Bank of America with 11 percent,Wells Fargo with 10 percent and Chase with 7 percent.  
  • More than two-thirds of theproperties actively in  the foreclosure process or bank owned as ofthe first quarter of 2013 were  built in 1960 or later; however, interms of year built the fastest growing  segment of foreclosureinventory consisted of homes built before 1960 — up 11  percent from ayear ago while foreclosure inventory of properties built in 1960 orlater increased 6 percent during the same time period. 
  • More than 60 percent of foreclosure inventoryin the first quarter of 2013 was comprised of properties with loanamounts under $200,000, while homes with outstanding loans between$200,000 to $400,000 represented an additional 30 percent of allforeclosure inventory.

Reportmethodology
The RealtyTrac U.S. Foreclosure InventoryAnalysis  provides a count of the total number of properties in somestage of the  foreclosure process or bank owned. RealtyTrac’s reportincorporates documents filed in all three phases of foreclosure:DefaultNoticeof Default (NOD) and LisPendens (LIS); Auction — Notice of Trustee’s Saleand Notice of Foreclosure Sale (NTS and  NFS); and RealEstate Owned, or REOproperties (that have been foreclosed on and repurchased bya bank). Properties are removed from active foreclosure inventory ifsold to a third part; if RealtyTrac collects a recission noticeshowing the lender has  stopped foreclosure proceedings; or if no newforeclosure activity is reported for the property for a longer periodof time than the average number of days it takes to complete theforeclosure process in the state where the property islocated.

ReportLicense                                                                               
The RealtyTrac U.S.Foreclosure Market Report is  the result of a proprietary evaluationof information compiled by RealtyTrac; the report and any of theinformation in whole or in part can only be quoted, copied,published, re-published, distributed and/or re-distributed or used in any manner if the user specifically references RealtyTrac as the sourcefor said report and/or any of the information set forth within thereport.

DataLicensing  and Custom Report Order
Investors,businesses and government institutions can contact RealtyTrac tolicense bulk foreclosure and neighborhood data or purchase customizedreports. We can provide you with nationwide, regional or local data andreports dating back to 2005 for both internal use and resale. Formore information contact our Data Licensing Department at800.462.5193 or  datasales@realtytrac.com.

AboutRealtyTrac Inc.
RealtyTrac (www.realtytrac.com) is theleading supplier of U.S. real estate data, with  more than 1.5 millionactive default, foreclosureauction and bank-ownedproperties, and more than 1 million active for-sale listings on itswebsite, which also provides essential housing information for morethan 100 million homes nationwide. This information includes propertycharacteristics, tax assessor records, bankruptcy status and saleshistory, along with 20 categories of key  housing-related factsprovided by RealtyTrac’s wholly-owned subsidiary, Homefacts®.RealtyTrac’s foreclosurereports and other housing data are relied on by the Federal Reserve,U.S. Treasury Department, HUD, numerous state housing and bankingdepartments, investment funds as well as millions of real estateprofessionals and consumers, to help evaluate housing trends and makeinformed decisions about real estate.

MediaContacts:
Jennifer von Pohlmann
949.502.8300,ext. 139
jennifer.vonpohlmann@realtytrac.com

GinnyWalker
949.502.8300, ext. 268
ginny.walker@realtytrac.com

Data and ReportLicensing:
Data Sales Department
800.462.5193
datasales@realtytrac.com

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