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Completed Foreclosures and Other Home Forfeiture Actions Relative to Seriously Delinquent Mortgages

Third Quarter 2008

The following data compare the number of completed foreclosures and other home forfeiture actions-short sales and deed-in-lieu-of-foreclosure actions-during the quarter with the number of seriously delinquent loans. Values are expressed as a percentage of the monthly weighted average8 of seriously delinquent mortgages.

Seriously delinquent prime loans consistently had the highest relative percentage of completed foreclosures and other home forfeiture actions. Seriously delinquent subprime loans consistently had the lowest relative percentage.

The number of completed foreclosures and other home forfeiture actions relative to seriously delinquent loans decreased for all loan categories from the second to the third quarter, except for prime loans.

Completed Foreclosures and Other Home Forfeiture Actions (% of seriously delinquent)
 First QuarterSecond QuarterThird Quarter
Prime15.86%16.87%17.13%
Alt-A14.13%14.51%13.00%
Subprime9.54%9.41%8.47%
Other10.35%11.43%10.64%
Overall12.25%12.89%12.36%

 Foreclosures and Other Home Forfeiture Actions Home Loss (% of seriously delinquent) 

 8 The weighted average refers to the average monthly outstanding number of seriously delinquent mortgages over the three months of a quarter.


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