OCC and OTS Mortgage Metrics Report

Third Quarter 2008

Loan Modification 60+ Re-Default Rates

For loans modified in the first quarter, more than 19 percent were 60 or more days delinquent or in foreclosure after three months. That rate grew to nearly 37 percent after six months. For loans modified in the second quarter, that rate was more than 21 percent after three months.

Modified Loans 60+ Days Delinquent (60+ Re-default Rate)
	Three Months After Modification	Six Months After Modification
First quarter 2008 loan modifications	19.18%	36.90%
Second quarter 2008 loan modifications	21.38%	--

Total % of Modified Loans 60+ Days Delinquent
(% of all loans modified in each quarter)

Contents

Definitions and Methods

Overall Mortgage Portfolio

Overall Mortgage Performance

Seriously Delinquent Mortgages

Mortgages 30-59 Days Delinquent

Newly Initiated Home Retention Actions

Newly Initiated Home Retention Actions Relative to Seriously Delinquent Mortgages

Newly Initiated Home Retention Actions Relative to Newly Initiated Foreclosures

Loan Modification 30+ Re-Default Rates

Loan Modification 60+ Re-Default Rates

30+ Re-Default Rates by Loan Category

30+ Re-Default Rates by Investor

New Completed Foreclosures and Other Home Forfeiture Actions

Completed Foreclosures and Other Home Forfeiture Actions Relative to Seriously Delinquent Mortgages

Newly Initiated Home Retention Actions Relative to Completed Foreclosures and Other Home Forfeiture Actions

Foreclosures in Process at the End of the Third Quarter

Newly Initiated Foreclosures

Newly Initiated Foreclosures Relative to Seriously Delinquent Mortgages

Appendix A—New Loan Modifications

New Modifications Relative to Seriously Delinquent Mortgages

New Modifications Relative to Newly Initiated Foreclosures

Appendix B—New Payment Plans

New Payment Plans Relative to Seriously Delinquent Mortgages

New Payment Plans Relative to Newly Initiated Foreclosures

Appendix C—Short Sales and Deed-in-Lieu-of-Foreclosure Actions

Overview

Short Sales and Deed-in-Lieu-of-Foreclosure Actions Relative to Seriously Delinquent Mortgages

Short Sales and Deed–in-Lieu-of-Foreclosure Actions Relative to Newly Initiated Foreclosures

Appendix D—Completed Foreclosures

Overview

Completed Foreclosures Relative to Seriously Delinquent Mortgages

The Office of the Comptroller of the Currency was created by Congress to charter national banks, to oversee a nationwide system of banking institutions, and to assure that national banks are safe and sound, competitive and profitable, and capable of serving in the best possible manner the banking needs of their customers.