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% |
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![Total % of Modified Loans 60+ Days Delinquent
(% of all loans modified in each quarter)](images/mmr_3q2008_final_Page_19.jpg)
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