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New Loss Mitigation Actions Relative to Seriously Delinquent Mortgages

January — June 2008

The following data compare loss mitigation actions initiated each month with the number of seriously delinquent loans. New loss mitigation actions are expressed as a percentage of seriously delinquent mortgages.

In each month during the period, a higher percentage of seriously delinquent subprime borrowers received loss mitigation actions than did other borrowers. Conversely, seriously delinquent prime loans consistently had the lowest relative percentage of new loss mitigation actions.

For the months of April, May, and June, loss mitigations actions as a percentage of seriously delinquent loans averaged 10.51 percent for subprime borrowers, 9.15 percent for Alt-A borrowers, 7.35 percent for other loans, 6.21 percent for prime loans, and 8.51 percent for the overall portfolio.

With the exception of prime mortgages, new loss mitigation actions relative to seriously delinquent loans increased in each risk category during the second quarter as loss mitigation actions increased faster than serious delinquencies.

New Loss Mitigation Actions
(% of Seriously Delinquent)
Jan-08Feb-08Mar-08Apr-08May-08Jun-08

Prime

5.02%

5.27%

5.92%

6.86%

5.95%

5.81%

Alt-A

7.18%

7.65%

8.44%

9.44%

8.65%

9.36%

Subprime

8.40%

8.85%

9.30%

10.24%

9.79%

11.51%

Other

7.35%

7.22%

7.13%

7.30%

6.98%

7.78%

Overall

7.13%

7.38%

7.85%

8.67%

8.03%

8.83%

  New Loss Mitigation Actions (% of seriously delinquent)  


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