Recent vintages of nonprime, nontraditional mortgage loans show higher rates of delinquency. Seriously Delinquent Pay Option Loans * |
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Months of Seasoning | 2003 Vintage (Percent of active balance) | 2004 Vintage (Percent of active balance) | 2005 Vintage (Percent of active balance) |
---|---|---|---|
3 | N/A | 0.06 | 0.04 |
4 | 0.19 | 0.10 | 0.06 |
5 | 0.07 | 0.06 | 0.12 |
6 | 0.07 | 0.08 | 0.19 |
7 | 0.07 | 0.09 | 0.25 |
8 | 0.16 | 0.11 | 0.28 |
9 | 0.06 | 0.12 | 0.28 |
10 | 0.02 | 0.15 | 0.35 |
11 | 0.06 | 0.20 | 0.36 |
12 | 0.10 | 0.28 | 0.42 |
13 | 0.13 | 0.32 | N/A |
14 | 0.19 | 0.37 | N/A |
15 | 0.14 | 0.42 | N/A |
16 | 0.24 | 0.45 | N/A |
17 | 0.32 | 0.54 | N/A |
18 | 0.35 | 0.58 | N/A |
19 | 0.25 | N/A | N/A |
20 | 0.17 | N/A | N/A |
21 | 0.26 | N/A | N/A |
22 | 0.33 | N/A | N/A |
23 | 0.33 | N/A | N/A |
24 | 0.46 | N/A | N/A |
25 | 0.55 | N/A | N/A |
26 | 0.66 | N/A | N/A |
27 | 0.58 | N/A | N/A |
28 | 0.72 | N/A | N/A |
29 | 0.71 | N/A | N/A |
30 | 0.66 | N/A | N/A |
* Seriously delinquent refers to loans that are 90+ days past due and/or in foreclosure.
Note: Vintage analysis begins 3 months following year's end. 2005 reflects January-June data. Source: LoanPerformance Corp. nonprime, non-Agency securitized mortgage originations |