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Re-Default Rates of Modified Loans: 90 or More Days Delinquent

Fourth Quarter 2008

Fourth Quarter 2008

Using the re-default measure of 90 or more days delinquent or in the process of foreclosure, the rates of re-default are lower, as would be expected. Nevertheless, the trend line is similar to that of other re-default measures in that re-defaults increase over time, with rates worsening for loans modified in each successive quarter.

Modified Loans 90 or More Days Delinquent (90+ Re-Default Rate)
Modification DateThree Months after
Modification		Six Months after
Modification		Nine Months after
Modification
First Quarter13.0%25.2%34.6%
Second Quarter16.3%31.1%X
Third Quarter18.5%XX

 Modified Loans 90 or More Days Delinquent (90+ Re-Default Rate) (Percent of All Loans Modified in Each Quarter) 


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