Newly Initiated Home Retention Actions Relative to Seriously Delinquent Mortgages

Third Quarter 2008

The following data compare newly initiated home retention actions during the quarter to the number of seriously delinquent loans. Newly initiated home retention actions during the quarter are expressed as a percentage of the monthly weighted average⁶ of seriously delinquent mortgages.

Seriously delinquent subprime loans received more home retention actions than other loan categories, continuing the trend reported in both the first and second quarters. Seriously delinquent prime loans consistently had the lowest relative percentage of new home retention actions.

Newly initiated home retention actions relative to seriously delinquent loans declined for all risk categories in the third quarter compared to the second quarter. While the number of newly initiated home retention actions increased for each category, the number of seriously delinquent borrowers increased at a faster pace.

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