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90 Texas RANK: 41 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate AUGUST 2014 2.17% 0.72% 5.3 YEAR AGO 2.16% 1.04% 6.4 YEAR-OVER-YEAR CHANGE 0.5% -30.5% -1.1 Top County HOUSTON COUNTY 90+ Day Foreclosure Delinquency Rate Rate AUGUST 2014 1.98% 3.31% YEAR AGO 2.32% 1.86% YEAR-OVER-YEAR CHANGE -14.8% 78.1% Top Core-Based Statistical Area BROWNWOOD, TX 90+ Day Foreclosure Delinquency Rate Rate AUGUST 2014 2.83% 1.85% YEAR AGO 2.81% 1.42% YEAR-OVER-YEAR CHANGE 0.9% 30.4% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the August 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary August 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. IN THE NEWS Texas Still Among Nation's Lowest in Foreclosure Inventory Despite having the third highest number of completed foreclosures of any state for the 12-month period ending August 31, Texas still had the 10th lowest foreclosure inventory per- centage of any state, according to CoreLogic. e Lone Star State's total of 36,466 completed foreclosures during that 12-month period were third only to Florida (120,842) and Michigan (42,960). At the same time, however, foreclosure inventory (the number of homes in any stage of the foreclosure process) in Texas came in at 0.7 percent for August. is number represented a decline of 0.3 percentage points from August 2013—a 30-percent decline—and was well below the national foreclosure inventory average of 1.6 percent, CoreLogic reported. Texas was not the only state where foreclosure inventory was way down. In all, 28 states reported a year-over-year decline in foreclosure inventory of more than 30 percent, led by Utah and Idaho at 46 percent each, according to CoreLogic's report. Completed foreclosures for the 12-month period ending in August were down 20 per- cent in Texas, which reported nearly 46,000 completed foreclosures for the same period in 2013, CoreLogic reported. e decline in completed foreclosures in Texas mirrored that of the entire nation, which sank from 719,601 to 575,706, a decline of 20 percent. August was the 19th consecutive month in which there was a 20-percent or greater year-over-year decrease in the national foreclosure inventory. "e number of foreclosures completed during the last 12 months is at the lowest level since November of 2007," said Anand Nal- lathambi, president and CEO of CoreLogic. "At current foreclosure rates, the shadow inventory could fall below 500,000 units by year-end, which could provide a solid boost to the recovery in housing in 2015." New VRMU Academy Offers Training for Small, Mid-Sized Real Estate Businesses VRM University, the training division of Carrollton, Texas-based VRM Mort- gage Services, announced the startup of the VRMU Academy. e new academy, which targets small and mid-tier real estate and mortgage busi- nesses, will offer such courses as personnel and human resources compliance training, leadership and professional development, and operational best practices. More than 10,000 mortgage and real estate industry professionals have completed training in more than 20,000 courses at VRMU since 2009. Courses are taught by instructors who are practicing industrial professionals and who possess a high level of quality and expertise. e new VRMU Academy will focus on small business train- ing and courses, adding to VRMU's widely recognized offerings that include continuing education real estate courses and client- specific training. With the addition of VRMU Academy, VRMU now has three areas of focus—acad- emy training, industry training, and custom training—to provide those in the mortgage and real estate industries with the training and continuing education they need to stay current and competitive. "We're extremely pleased to launch the VRMU Academy and make it available to all industry professionals," said Effie Den- nison, SVP of business development for VRMU. "is has become an increasingly dynamic industry and companies at all levels are looking to ensure seamless continuity of operations. Small business owners know the devil is in the details, and this new program will help ensure they know those details and more." Virginia RANK: 44 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate AUGUST 2014 1.77% 0.63% 5.6 YEAR AGO 2.15% 0.73% 5.6 YEAR-OVER-YEAR CHANGE -17.6% -13.8% 0 Top County SMYTH COUNTY 90+ Day Foreclosure Delinquency Rate Rate AUGUST 2014 2.14% 2.23% YEAR AGO 3.28% 2.26% YEAR-OVER-YEAR CHANGE -34.9% -1.1% Top Core-Based Statistical Area 90+ Day Foreclosure Delinquency Rate Rate AUGUST 2014 YEAR AGO YEAR-OVER-YEAR CHANGE note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the August 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary August 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. The quarter-over- quarter increase in scheduled foreclosure auctions in Texas in Q3 2014, ranking the state fourth in the nation. Source: RealtyTrac STAT INSIGHT 25%

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