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Appendix B – Payment Plans, Overview

Overview

Payment plans included those mortgages where the servicer and a borrower have agreed to a short–to–medium–term change in scheduled terms and payments in order to return a mortgage to a current and performing status.

At the end of March, 42 percent of all payment plans were implemented for subprime mortgages, even though such loans comprise less than 9 percent of the total portfolio.

In contrast, prime mortgages accounted for only 16 percent of payment plans, while comprising more than 62 percent of the total portfolio.

Payment PlansMar-08

 

Total Payment Plans

135,973

Composition

 

% of Total Payment Plans
Prime

21,091

16%

Alt-A

26,096

19%

Subprime

57,262

42%

Other

31,524

23%

  Payment Plans (% of Total Plans)  


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