OCC: Changes to Monthly Payments Due to Modifications-by Quarters in 2008

Fourth Quarter 2008

Fourth Quarter 2008

In the fourth quarter, there was a significant shift toward modifications resulting in payment reductions, as shown below. Unlike in previous quarters, such payment-reducing modifications constituted more than 50 percent of all modifications. Similarly, modifications that reduced monthly payments by more than 10 percent increased more than 11 percentage points, rising to 37.2 percent of all fourth quarter modifications.

Change in Monthly Principal and Interest Payments Due to Loan Modification
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	Number	Percent	Number	Percent	Number	Percent	Number	Percent
Decreased by More than 10%	17,066	24.1%	35,687	27.9%	28,487	26.0%	42,768	37.2%
Decreased 10% or Less	8,183	11.6%	15,731	12.3%	13,622	12.4%	15,547	13.5%
Unchanged	20,452	28.9%	34,228	26.8%	30,316	27.7%	27,480	23.9%
Increased	25,096	35.4%	42,269	33.0%	37,171	33.9%	29,049	25.3%
Total	70,797	100.0%	127,915	100.0%	109,596	100.0%	114,844	100.0%

Change In Monthly Principal and Interest Payments Due to Loan Modification (Number of Modifications in Each Category)

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Appendixes

Changes to Monthly Payments Due to Modifications-by Quarters in 2008

Fourth Quarter 2008

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