OCC: Newly Initiated Foreclosures

Newly Initiated Foreclosures

First Quarter 2009

The lifting of foreclosure moratoria during the quarter, continued economic weakness, and the migration of an increasing number of serious delinquencies into foreclosure resulted in a 10.8 percent increase, to 290,920, in newly initiated foreclosures. The number of newly initiated foreclosures dropped among subprime mortgages, but increased for prime and Alt-A loans. Prime mortgages saw the most significant increase, rising by 21.5 percent from the previous quarter, reflecting the increasing pressure on this largest group.

Number of Newly Initiated Foreclosures
	3/31/2008	6/30/2008	9/30/2008	12/31/2008	3/31/2009	1Q %Change	1Y %Change
Prime	105,698	121,058	117,276	109,285	132,730	21.5%	25.6%
Alt-A	61,187	60,427	57,651	53,914	56,948	5.6%	-6.9%
Subprime	77,539	75,030	75,789	68,204	64,628	-5.2%	-16.7%
Other	35,737	32,174	30,569	31,288	36,614	17.0%	2.5%
Total	280,161	288,689	281,285	262,691	290,920	10.8%	3.8%

Number of Newly Initiatied Foreclosures

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Newly Initiated Foreclosures

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