OCC and OTS Mortgage Metrics Report
Third Quarter 2008
Completed Foreclosures Relative to Seriously Delinquent Mortgages
The percentage of completed foreclosures in the third quarter relative to the number of seriously delinquent loans declined for all loan categories.15
The percentage of completed foreclosures for seriously delinquent prime loans was higher than that of any other type of loan during the third quarter. The percentage of foreclosures completed for seriously delinquent subprime loans was lower than that of any other type of loan during the third quarter.
| Foreclosures Completed (% of seriously delinquent)
|
| |
First Quarter
|
Second Quarter
|
Third Quarter
|
| Prime |
14.69% |
15.45% |
15.13% |
| Alt-A |
13.28% |
13.55% |
11.80% |
| Subprime |
9.02% |
8.84% |
7.82% |
| Other |
9.90% |
10.72% |
9.63% |
| Overall |
11.51% |
11.98% |
11.14% |
15 The percentage relative to serious delinquencies is calculated using weighted averages. The weighted average refers to the average monthly outstanding number of seriously delinquent mortgages over the three months of a quarter.
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