Wednesday, July 8, 2009

Mobile Alabama Foreclosure Activity

First American CoreLogic Mobile Housing Update

July 7, 2009	A real estate report by First American CoreLogic on home sales, price trends, and foreclosure activity

More information about First American CoreLogic can be found at www.facorelogic.com/newsroom/newsroom.jsp.
Contact: Lori Guyton · (901) 277-6066 · lguyton@cvic.com

FORECLOSURE ACTIVITY

Location	90+ Day Delinquency Rate May 2009	90+ Day Delinquency Rate May 2008	Change in 90+ Day Delinquency Rate	Foreclosure Rate May 2009	Foreclosure Rate May 2008	Change in Foreclosure Rate	REO Rate May 2009	REO Rate May 2008	Percentage Point Change in REO Rate
Alabama	4.70%	3.10%	1.60%	1.10%	0.50%	0.50%	0.40%	0.50%	-0.10%
Mobile, AL	6.20%	4.20%	2.00%	1.30%	0.60%	0.60%	0.30%	0.40%	-0.10%
US	6.5%	4.0%	2.5%	2.5%	1.5%	1.0%	0.7%	0.6%	0.1%

Source: First American CoreLogic.

Foreclosure Rates in Mobile Increase

Foreclosure rates in Mobile have increased for the month of May over the same period last year, according to First American CoreLogic, the leading collector of national, state and local data on home prices, foreclosure and delinquency activity, real estate sales volume and mortgage loan activity.

According to recent data from First American CoreLogic on foreclosures for the Mobile area, the rate of foreclosures among outstanding mortgage loans is 1.30 percent for the month of May, an increase of 0.60 percentage points compared to May of 2008 when the rate was 0.60 percent.* Foreclosure activity in Mobile is lower than the national foreclosure rate which was 2.5 for May 2009, representing a 1.20 percentage point difference.

Also in Mobile, the mortgage delinquency rate has increased. According to First American CoreLogic preview data for May 2009, 6.20 percent of mortgage loans were 90 days or more delinquent compared to 4.20 percent for the same period last year, representing an increase of 2.00 percentage points.*

For detailed information on foreclosures by zip code and property, visit http://www.realquest.com/.

* Data and percentage point differences are rounded to the nearest tenth and may appear to affect calculations.

ABOUT FIRST AMERICAN CORELOGIC: First American CoreLogic, a member of The First American Corporation (NYSE:FAF) family of companies, is the largest provider of real estate, property and ownership data and advanced analytics for information on foreclosures, delinquencies, median home prices, home price indices, home valuations, sales activity and mortgage loan originations. The market-specific data covers 7,607 ZIP codes, 958 Core Based Statistical Areas (CBSA) and 3,050 counties located in all 50 states and the District of Columbia. This data represents 99 percent of the United States population, 140 million (97 percent) of all properties, more than 50 million active mortgages and $2 trillion in loan-level, non-agency mortgage securities. First American CoreLogic products and services enable customers to better manage mortgage risk, protect against fraud, acquire and retain customers, manage credit risk, mitigate loss, decrease mortgage transaction cycle time, more accurately value properties and determine real estate trends and market performance. More information about First American CoreLogic can be found at www.facorelogic.com.