New Payment Plans Relative to New Foreclosures

From November through February, new payment plans as a percentage of new foreclosures gradually declined across all portfolio risk segments as new foreclosure actions increased at a faster pace. There was, however, a significant increase in March, where new payment plans constituted 87.33 percent of new foreclosures.

Subprime mortgages had the highest ratio of new payment plans to new foreclosures. In March, such loans had over 33 percent more payment plans than new foreclosures.

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