Home Retention Actions Relative to Forfeiture Actions by Risk Category

Fourth Quarter 2008

During the fourth quarter, newly initiated home retention actions—loan modifications and payment plans—increased for all risk categories, while the number of completed foreclosures and other home forfeiture actions—short sales and deed-in-lieu-of-foreclosure actions—decreased for all risk categories.

Newly initiated home retention actions were more than 2.8 times the number of completed foreclosures and other home forfeiture actions during the fourth quarter. For subprime loans, newly initiated home retention actions were more than 4.7 times the number of completed foreclosures and other home forfeiture actions. All risk categories reflected a significantly greater number of new home retention actions relative to home forfeiture actions during the fourth quarter.

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