OCC Mortgage Metrics Report
Numbers of New Foreclosures
New foreclosures ranged from a low of 43,201 in November to a high of 58,163 in January.
The total decreased in the past two months. By the end of March, new foreclosures numbered 45,696, down more than 21 percent from January's high and down about 4.5 percent from October.
Sixty-two percent of all mortgages in the total portfolio were prime mortgages; so it is not surprising that in February and March, prime mortgages saw more new foreclosures than the other categories.
Subprime mortgages, which constituted just 9 percent of the total portfolio, had a disproportionately large share of new foreclosures, leading that category in four of the six months reported.
New Foreclosures |
Oct-07 |
Nov-07 |
Dec-07 |
Jan-08 |
Feb-08 |
Mar-08 |
Composition |
|
|
|
|
|
|
Prime |
12,838 |
11,387 |
13,982 |
17,808 |
16,258 |
14,894 |
Alt-A |
10,267 |
9,017 |
10,078 |
12,020 |
10,476 |
9,160 |
Subprime |
15,998 |
14,578 |
15,322 |
18,646 |
15,744 |
12,084 |
Other |
8,733 |
8,219 |
8,546 |
9,689 |
9,167 |
9,558 |
Overall |
47,836 |
43,201 |
47,928 |
58,163 |
51,645 |
45,696 |
|
