The nonperforming loan situation continued to improve in November, as the national inventory of foreclosed homes dropped to pre-recession levels, according to CoreLogic.
The national foreclosure inventory fell 21.8% to about 448,000 homes in November, or about 1.2% of all homes, compared to a year ago, according to CoreLogic's National Foreclosure Report. It's the lowest inventory total since November 2007.
The number of completed foreclosures fell 19.5% to 33,000 over the same period.
The number of home loans at least 90 days past due fell 21.7% to 1.3 million, or 3.3% of all mortgages.
Improved rates of delinquencies are due to "tight post-crash underwriting standards coupled with much improved economic and housing market fundamentals," Anand Nallathambi, CoreLogic's chief executive, said in a news release.
