Total End-of-Month Loss Mitigation Actions

January — June 2008

Loss mitigation actions totaled 294,262 at the end of June. Subprime borrowers received 130,709 loss mitigation actions, more than twice that of any other category.

Although subprime mortgages constitute less than 9 percent of the total portfolio, subprime loss mitigation actions constitute 44 percent of all loss mitigation actions. Conversely, prime loans constitute 66 percent of the portfolio and received 19 percent of all loss mitigation actions at the end of June.

This report includes data on only the two most common types of loss mitigation actions—loan modifications and payment plans. Payment plans are counted from the day the plan is initiated. Loan modifications are counted once accepted by the borrower and actually implemented.

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