Newly Initiated Home Retention Actions Relative to Completed Foreclosures and Other Home Forfeiture Actions

Third Quarter 2008

During the third quarter, newly initiated home retention actions increased more quickly than completed foreclosures and other home forfeiture actions-short sales and deed-in-lieu-of-foreclosure actions-for all loan categories, except prime loans.

Newly initiated home retention actions were more than double the number of completed foreclosures and other home forfeiture actions during the third quarter. For subprime loans, newly initiated home retention actions were more than 3.6 times the number of completed foreclosures and other home forfeiture actions.

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