Seriously Delinquent Mortgages

Seriously delinquent mortgages are defined as mortgages that were 60 or more days past due and those held by bankrupt borrowers that were 30 or more days past due.

As a percentage of the total portfolio, during the reporting period seriously delinquent mortgages ranged between 2.11 and 2.33 percent. Total serious delinquencies at the end of March were about 5.9 percent higher than the total at the end of October.

Seriously delinquent mortgages were lowest among prime mortgages and highest among subprime mortgages, reflecting the relative risk of these classes of borrowers.

At the end of March, the seriously delinquent rate for subprime mortgages was more than four times the rate for the total portfolio, and 13 times the rate for prime mortgages.

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