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Appendix B – Payment Plans

January — June 2008

Overview

Payment plans included those mortgages for which the servicer and a borrower agreed to a short- to medium-term change in scheduled terms and payments to return a mortgage to a current and performing status.

At the end of June, 154,040 loans were under a payment plan. Payment plans were concentrated in subprime loans, which constituted 41 percent of all plans despite subprime loans constituting less than 9 percent of the total serviced portfolio.

In contrast, prime mortgages constituted the lowest percentage of total payment plans at 18 percent while constituting 66 percent of the total portfolio.

 

Payment PlansJun-08% of Total
Payment Plans
Prime28,31118%
Alt-A31,75621%
Subprime62,95341%
Other31,02020%
Total payment plans154,040

  Payment Plans (% of total) June 2008  


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