OCC and OTS Mortgage Metrics Report
Third Quarter 2008
30+ Re-Default Rates by Loan Category
Measured in terms of delinquencies exceeding 30 days, prime loans had the lowest re-default rates at 23.7 percent three months after the modification and 38.5 percent after six months. Subprime and “other” mortgages had the highest re-default rates.
| First Quarter 2008 Loans by Loan Category |
| |
Three Months After Modification
(30+ Days Delinquent)
|
Six Months After Modification
(30+ Days Delinquent) |
| Prime |
23.67% |
38.50% |
| Alt-A |
36.28% |
53.15% |
| Subprime |
42.91% |
61.29% |
| Other |
44.10% |
60.96% |
|
