OCC and OTS Mortgage Metrics Report

Third Quarter 2008

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

During the third quarter, newly initiated home retention actions increased more quickly than completed foreclosures and other home forfeiture actions-short sales and deed-in-lieu-of-foreclosure actions-for all loan categories, except prime loans.

Newly initiated home retention actions were more than double the number of completed foreclosures and other home forfeiture actions during the third quarter. For subprime loans, newly initiated home retention actions were more than 3.6 times the number of completed foreclosures and other home forfeiture actions.

Newly Initiated Home Retention Actions (% of completed foreclosures and other home forfeiture actions)
	First Quarter	Second Quarter	Third Quarter
Prime	103.25%	109.63%	106.75%
Alt-A	165.98%	189.58%	210.78%
Subprime	279.29%	334.66%	363.23%
Other	212.88%	202.51%	213.64%
Overall	183.92%	199.16%	202.88%

Newly Initiated Home Retention Actions
(% of completed foreclosures and other home forfeiture actions)

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.