Recent vintages of nonprime, nontraditional mortgage loans show higher rates of delinquency.
Seriously Delinquent Pay Option Loans *
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