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Numbers of New Foreclosures

New foreclosures ranged from a low of 43,201 in November to a high of 58,163 in January.

The total decreased in the past two months. By the end of March, new foreclosures numbered 45,696, down more than 21 percent from January's high and down about 4.5 percent from October.

Sixty-two percent of all mortgages in the total portfolio were prime mortgages; so it is not surprising that in February and March, prime mortgages saw more new foreclosures than the other categories.

Subprime mortgages, which constituted just 9 percent of the total portfolio, had a disproportionately large share of new foreclosures, leading that category in four of the six months reported.

New ForeclosuresOct-07Nov-07Dec-07Jan-08Feb-08Mar-08
Composition

 

 

 

 

 

 

Prime

12,838

11,387

13,982

17,808

16,258

14,894

Alt-A

10,267

9,017

10,078

12,020

10,476

9,160

Subprime

15,998

14,578

15,322

18,646

15,744

12,084

Other

8,733

8,219

8,546

9,689

9,167

9,558

Overall

47,836

43,201

47,928

58,163

51,645

45,696


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