OCC: Appendices

Appendices

First Quarter 2009

Appendix A—New Loan Modifications

New loan modifications increased to 185,156 during the first quarter of 2009—rising by 55.3 percent from the previous quarter and by 172.3 percent from the first quarter of 2008. This significant increase can be attributed to servicers' increasing focus on modifications as a home retention loss mitigation strategy. The rate of increase was greatest for prime borrowers, with new loan modifications increasing nearly 82 percent during the first quarter.

Subprime loans constituted about 42 percent of all new modifications in the quarter but only 8 percent of all loans in the servicing portfolio. Prime loans constituted about 27 percent of all new modifications in the quarter but 67 percent of all loans in the servicing portfolio.

Number of New Loan Modifications
	3/31/2008	6/30/2008	9/30/2008	12/31/2008	3/31/2009	1Q %Change	1Y %Change
Prime	13,241	23,363	24,680	27,169	49,439	82.0%	273.4%
Alt-A	15,155	28,119	26,697	27,680	43,218	56.1%	185.2%
Subprime	32,356	64,108	52,559	51,702	77,280	49.5%	138.8%
Other	7,249	12,350	10,206	12,669	15,219	20.1%	110.0%
Total	68,001	127,940	114,142	119,220	185,156	55.3%	172.3%
Number of New Loan Modifications Relative to Mortgages in that Category
Prime	0.1%	0.1%	0.1%	0.1%	0.2%	83.0%	269.3%
Alt-A	0.4%	0.8%	0.8%	0.8%	1.2%	58.7%	189.7%
Subprime	1.0%	2.1%	1.7%	1.7%	2.7%	57.5%	157.8%
Other	0.1%	0.3%	0.2%	0.3%	0.3%	24.3%	127.3%
Total	0.2%	0.4%	0.3%	0.4%	0.5%	57.6%	175.7%

Number of New Loan Modifications

< previous | next >

Appendixes

Appendices

Featured Publications

Top Tasks