New Payment Plans

January — June 2008

Payment plans included those mortgages for which the servicer and a borrower agreed to a short- to medium-term change in scheduled terms and payments to return a mortgage to a current and performing status.

At the end of June, 154,040 loans were under a payment plan. Payment plans were concentrated in subprime loans, which constituted 41 percent of all plans despite subprime loans constituting less than 9 percent of the total serviced portfolio.

In contrast, prime mortgages constituted the lowest percentage of total payment plans at 18 percent while constituting 66 percent of the total portfolio.

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