On Monday, Corelogic Inc (NYSE:CLGX) fell -0.23% with the overall traded volume of 379,770 shares above its average volume of 432.05 shares. The company has the market value of $3.84B and its EPS ratio for the past year was $1.74. The company finished business at $46.81.
CoreLogic (CLGX) released its monthly Loan Performance Insights Report. The report shows that, nationally, 4.1 percent of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in July 2018, representing a 0.6 percentage point decline in the overall delinquency rate compared with July 2017, when it was 4.7 percent.
As of July 2018, the foreclosure inventory rate – which measures the share of mortgages in some stage of the foreclosure process – was 0.5 percent, down 0.2 percentage points from 0.7 percent in July 2017, and the lowest for a July since 2006. The July 2018 foreclosure inventory rate remained unchanged from April, May and June rates of this year.
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 1.9 percent in July 2018, down from 2.1 percent in July 2017. The share of mortgages that were 60 to 89 days past due in July 2018 was 0.6 percent, down from 0.7 percent in July 2017. The serious delinquency rate – defined as 90 days or more past due, including loans in foreclosure – was 1.6 percent in July 2018, down from 1.9 percent in July 2017. This serious delinquency rate is the lowest for July since 2006 when it was 1.4 percent and the lowest for any month since June 2007 when it was also 1.6 percent.
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 July 2018, down from 0.9 percent in July 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.
While no state posted year-over-year increases in their 30-plus-day delinquency in July 2018, several metropolitan areas in Florida and Texas recorded month-over-month increases. This indicates properties in North Carolina, South Carolina and Virginia that recently experienced damage from Hurricane Florence may be at risk for early-stage delinquency. CoreLogic identified thousands of homes in these three states that were impacted by wind and water damage from the storm.
The data in this report represents foreclosure and delinquency activity reported through July 2018.
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.
The company has 0.89 shares outstanding and 95.30% shares of the company were owned by institutional investors. The company has 2.05 value in price to sale ratio while price to book ratio was recorded as 3.72. It beta stands at 0.45.
Analyst recommendation for this stock stands at 2.30.