OCC and OTS Mortgage Metrics Report

Third Quarter 2008

Newly Initiated Home Retention Actions

Newly initiated home retention actions totaled 287,755 during the third quarter, an increase of more than 13 percent from the second quarter.

New loan modifications increased at a faster pace than new payment plans during the quarter, rising more than 16 percent compared to an increase in payment plans of 11 percent. Modifications comprised more than 46 percent of all newly initiated home retention actions during the third quarter, compared to 45 percent during the second quarter.

Home Retention Actions-New Loan Modifications and Payment Plans
	First Quarter	Second Quarter	Third Quarter
Loan modifications	72,877	114,439	133,106
Payment plans	136,874	139,186	154,649
Total	209,751	253,625	287,755

Home Retention Actions—New Loan Modifications
and Payment Plans

Contents

Definitions and Methods

Overall Mortgage Portfolio

Overall Mortgage Performance

Seriously Delinquent Mortgages

Mortgages 30-59 Days Delinquent

Newly Initiated Home Retention Actions

Newly Initiated Home Retention Actions Relative to Seriously Delinquent Mortgages

Newly Initiated Home Retention Actions Relative to Newly Initiated Foreclosures

Loan Modification 30+ Re-Default Rates

Loan Modification 60+ Re-Default Rates

30+ Re-Default Rates by Loan Category

30+ Re-Default Rates by Investor

New Completed Foreclosures and Other Home Forfeiture Actions

Completed Foreclosures and Other Home Forfeiture Actions Relative to Seriously Delinquent Mortgages

Newly Initiated Home Retention Actions Relative to Completed Foreclosures and Other Home Forfeiture Actions

Foreclosures in Process at the End of the Third Quarter

Newly Initiated Foreclosures

Newly Initiated Foreclosures Relative to Seriously Delinquent Mortgages

Appendix A—New Loan Modifications

New Modifications Relative to Seriously Delinquent Mortgages

New Modifications Relative to Newly Initiated Foreclosures

Appendix B—New Payment Plans

New Payment Plans Relative to Seriously Delinquent Mortgages

New Payment Plans Relative to Newly Initiated Foreclosures

Appendix C—Short Sales and Deed-in-Lieu-of-Foreclosure Actions

Overview

Short Sales and Deed-in-Lieu-of-Foreclosure Actions Relative to Seriously Delinquent Mortgages

Short Sales and Deed–in-Lieu-of-Foreclosure Actions Relative to Newly Initiated Foreclosures

Appendix D—Completed Foreclosures

Overview

Completed Foreclosures Relative to Seriously Delinquent Mortgages

The Office of the Comptroller of the Currency was created by Congress to charter national banks, to oversee a nationwide system of banking institutions, and to assure that national banks are safe and sound, competitive and profitable, and capable of serving in the best possible manner the banking needs of their customers.