OCC: Re-Default Rates Using Varying Definitions

Re-Default Rates Using Varying Definitions

Fourth Quarter 2008

Using varying measures of re-default-30 or more days, 60 or more days, and 90 or more days delinquent or in the process of foreclosure-the data also show that the modifications that reduced payments the most had significantly lower levels of delinquency.

Varying Measures of Delinquency at Six Months after Modification (Includes Loans Modified through the End of the Second Quarter)
	Decreased by More than 10%	Decreased by 10% or Less	Unchanged	Increased	Overall
30 or More Days Delinquent	36.7%	49.2%	64.4%	61.1%	54.1%
60 or more Days Delinquent	22.7%	33.0%	50.6%	45.8%	39.4%
90 or More Days Delinquent	14.0%	21.3%	41.0%	33.9%	29.0%

Varying Measures of Delinquency at Six Months after Modification (includes Loans Modified through the End of the Second Quarter)

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Re-Default Rates Using Varying Definitions

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