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Seriously Delinquent Mortgages

January — June 2008

Seriously delinquent mortgages, defined as mortgages that are 60 or more days past due plus loans to bankrupt borrowers who are 30 or more days past due, rose in the second quarter from 2.67 percent at the end of March to 2.95 percent at the end of June.

Seriously delinquent mortgages increased across all risk categories during the reporting period. During the second quarter, seriously delinquent subprime loans increased by 0.91 percentage points (an 8.4 percent increase), while among prime loans the increase was 0.19 percentage points (a 17.1 percent increase).

At the end of June, the seriously delinquent rate for subprime mortgages at 11.69 percent was nearly four times the rate for the total portfolio and nine times the rate for prime mortgages, reflecting the higher overall risk profile of subprime borrowers.

Seriously Delinquent
(% of all mortgage loans in each category)
 Jan-08Feb-08Mar-08Apr-08May-08Jun-08
Prime1.06%1.08%1.11%1.16%1.22%1.30%
Alt-A5.38%5.18%5.19%5.40%5.56%5.83%
Subprime11.55%10.81%10.78%11.13%11.31%11.69%
Other3.13%2.96%2.90%3.06%2.99%3.10%
Overall2.77%2.66%2.67%2.77%2.83%2.95%
Seriously Delinquent
(Number of loans in the portfolio)
Prime238,100242,976251,696266,067280,395298,493
Alt-A192,257184,672185,172193,616199,568207,212
Subprime359,244335,390333,702345,316350,262357,497
Other164,495156,702150,537155,410152,386160,684
Overall954,096919,740921,107960,409982,6111,023,886

  Seriously Delinquent graph  


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