OCC and OTS Mortgage Metrics Report

Fourth Quarter 2008

Appendices

Appendix A—New Loan Modifications

New loan modifications increased by more than 4.3 percent from the third to the fourth quarter. New loan modifications were 40 percent of total home retention actions in the fourth quarter compared with 43 percent in the third quarter.

Subprime loans had the highest volume of new loan modifications during the fourth quarter at 51,773, or 43 percent of all new modifications, while constituting 9 percent of the total servicing portfolio.

Prime loans had 29,147 new loan modifications, or 24 percent of all new loan modifications during the fourth quarter, while constituting 67 percent of the total servicing portfolio.

Number of New Loan Modifications
	First Quarter	Second Quarter	Third Quarter	Fourth Quarter
Prime	15,985	28,488	26,180	29,147
Alt-A	16,204	29,203	27,059	27,867
Subprime	33,967	64,191	52,904	51,773
Other	8,052	12,596	10,340	12,709
Overall	74,208	134,478	116,483	121,496

Number of New Loan Modifications

return to top >

< previous | next >

Contents

Executive Summary

About Mortgage Metrics

Definitions and Methods

PART I: Mortgage Performance

Overall Mortgage Portfolio

Overall Mortgage Performance

Performance of Government Guaranteed Mortgages

Seriously Delinquent Mortgages, by Risk Category

Mortgages 30-59 Days Delinquent, by Risk Category

First Payment Default, by Risk Category

PART II: Home Retention Actions

A. Loan Modifications and Payment Plans

Newly Initiated Home Retention Actions

Newly Initiated Home Retention Actions Relative to Newly Initiated Foreclosures

B. Re-Default Rates of Modified Loans—in Aggregate

Re-Default Rates of Modified Loans: 60 or More Days Delinquent

Re-Default Rates of Modified Loans: 30 or More Days Delinquent

Re-Default Rates of Modified Loans: 90 or More Days Delinquent

Re-Default Rates: Portfolio Loans vs. Loans Serviced for Others (60 or More Days Delinquent)

C. Re-Default Rates of Modified Loans—by Changes in Monthly Payments

Changes to Monthly Payments Due to Modification—Full Year 2008

Changes to Monthly Payments Due to Modifications—by Quarters in 2008

Modified Loans 60 or More Days Delinquent, by Changes to Monthly Payments: Re-Default Rates at Three, Six, and Nine Months after Modification

Modified Loans Delinquent after Six Months, by Changes to Monthly Payments: Re-Default Rates Using Varying Definitions

Part III: Home Forfeiture Actions: Foreclosures, Short Sales, and Deed-in-Lieu-of-Foreclosure Actions

Completed Foreclosures and Other Home Forfeiture Actions

Home Retention Actions Relative to Forfeiture Actions by Risk Category

Newly Initiated Foreclosures

Appendices

Appendix A—New Loan Modifications

Appendix B—New Payment Plans

Appendix C—First Quarter 2008: Re-Default Rates of Modified Loans, by Changes to Monthly Payments (60 or More Days Delinquent)

Appendix D—Second Quarter 2008: Re-Default Rate of Modified Loans, by Changes to Monthly Payments (60 or More Days Delinquent)

Appendix E—Third Quarter 2008: Re-Default Rate of Modified Loans, by Changes to Monthly Payments (60 or More Days Delinquent)

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

Appendix G—Completed Foreclosures

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.

>>>>>>>