OCC: Performance of Government Guaranteed Mortgages

Performance of Government Guaranteed Mortgages

Fourth Quarter 2008

Performance of Government Guaranteed Mortgages

For the first time, this quarter's report provides data on the performance of U.S. government guaranteed or insured mortgages, i.e., FHA and VA loans. Government guaranteed mortgages constituted about 12.09 percent of total mortgages in the portfolio, or approximately 4.2 million loans. Of these loans, 78.11 percent are FHA loans and 21.89 percent are VA loans. In the fourth quarter, 84.10 percent of these loans were current and performing, while 9.37 percent were seriously delinquent or in the process of foreclosure.

Government Guaranteed Loans (Percent of Government Guaranteed Loans)*
	First Quarter	Second Quarter	Third Quarter	Fourth Quarter
Current and Performing	87.53%	87.04%	85.64%	84.10%
30-59 Days Delinquent	5.26%	5.77%	6.32%	6.54%
The Following Three Categories Are Classified as Seriously Delinquent.
60-89 Days Delinquent	1.82%	2.04%	2.44%	2.78%
90 or More Days Delinquent	2.92%	2.55%	2.90%	3.78%
Bankruptcy 30 or More Days Delinquent	1.04%	1.23%	1.20%	1.18%
Subtotal for Seriously Delinquent	5.78%	5.82%	6.55%	7.74%
Foreclosures in Process	1.43%	1.37%	1.49%	1.63%
Government Guaranteed Loans (Number of Loans in the Portfolio)
Current and Performing	3,150,672	3,296,406	3,400,219	3,528,546
30-59 Days Delinquent	189,412	218,431	250,829	274,225
The Following Three Categories Are Classified as Seriously Delinquent.
60-89 Days Delinquent	65,657	77,273	97,028	116,671
90 or More Days Delinquent	105,044	96,478	115,218	158,554
Bankruptcy 30 or More Days Delinquent	37,274	46,736	47,795	49,376
*Subtotal for Seriously Delinquent*	207,975	220,487	260,041	324,601
Foreclosures in Process	51,579	52,050	59,080	68,341

*Percentages may not add to 100 due to rounding

Government Guaranteed Loans (Percent of Government Guaranteed Loans)

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Performance of Government Guaranteed Mortgages

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