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30 INSPECTIONS DEBRIS REMOVAL | EVICTIONS HUD CONVEYANCE PREP | ROOF REPAIR | INITIAL SECURES LOCK CHANGES | WINDOW BOARDING/REPLACING LAWN MAINTENANCE | EXTERMINATION | UTILITIES WINTERIZATIONS | SNOW REMOVAL | POOL SECURING REPAIRS AND REHAB | DEMOLITIONS | QUALITY ASSURANCE INSPECTIONS APPRAISALS | PROPERTY REGISTRATIONS WOLVERINE REAL ESTATE SERVICES, INC. We'll put you on the road to better fi eld services in 2014 WWW.FIELDINSPECTION.COM (800) 875-7170 THE LEADER IN DEFAULT SERVICING NEWS Help shape the next issue of DS News. Drop us a line at Editor@DSNews.com. FORECLOSURE INVENTORY DOWN NEARLY 35 PERCENT YEAR-OVER-YEAR Foreclosure activity was down all over the nation in July, particularly in the area of foreclo- sure inventory—homes that are in any stage of the foreclosure process—where there was a 34.4- percent drop from July 2013, according to the latest CoreLogic National Foreclosure Report. CoreLogic reports a foreclosure inven- tory of about 640,000 for July 2014 compared to 976,000 in July 2013. Analysts believe that number could drop to as low as 500,000 by the end of the year based on current trends. is past July was the 18th consecutive month in which there was a year-over-year decrease of 20 percent or more for foreclosure inventory. Only two places in the nation did not experi- ence double-digit declines year-over-year in foreclosure inventory: the District of Columbia recorded a 6.3-percent decrease and Wyoming had a 14.6-percent increase. "e picture is considerably brighter in the non-judicial states, which maintain consistently lower foreclosure stocks and, in general, lower levels of serious delinquency," said Anand Nal- lathambi, president and CEO of CoreLogic. "In total, there are now 36 states with an inventory of foreclosed homes lower than the national rate of 1.7 percent." is July, there were approximately 45,000 foreclosures completed, compared to 57,000 in July 2013, according to CoreLogic—a decline of 21.2 percent. Month-over-month, the number of completed foreclosures fell by 8.5 percent from 49,000 down to 45,000. "e stock of distressed debt continues to rapidly decline, especially in Western states," said Sam Khater, deputy chief economist at CoreLogic. "e number of seriously delin- quent loans fell by more than 25 percent from the prior year in 10 states and seven of those states were in the West." Foreclosure inventory made up 1.6 percent of all mortgages in the nation in July, a decrease of 2.4 percent from a year ago. Inventory fell 3.3 percent from June, marking the 33rd consecu- tive month foreclosure inventory percentage fell year-over-year, according to CoreLogic. Ne- braska and Alaska were the states with the low- est rate in the nation with 0.4 percent of homes with a mortgage in some stage of foreclosure. e number of completed foreclosures is dropping but still has a way to get back to its pre-2007 levels, before the decline of the hous- ing market. e nation averaged about 21,000 completed foreclosures per month from 2000 to 2006. Since the beginning of the financial crisis in 2008, approximately 5.1 million foreclosures have been completed nationwide. Fannie Mae and Freddie Mac have prevented approximately 3.3 million foreclosures since the start of the conservatorship in September 2008, according to the Federal Housing Finance Agency. KNOW THIS

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