OCC Mortgage Metrics Report

Appendix B – Payment Plans

Overview

Payment plans included those mortgages where the servicer and a borrower have agreed to a short–to–medium–term change in scheduled terms and payments in order to return a mortgage to a current and performing status.

At the end of March, 42 percent of all payment plans were implemented for subprime mortgages, even though such loans comprise less than 9 percent of the total portfolio.

In contrast, prime mortgages accounted for only 16 percent of payment plans, while comprising more than 62 percent of the total portfolio.