GAO-10-806SP: Nonprime Mortgages: Data on Loan Performance by Cohort Year, Product Type, and Location, an E-supplement to GAO-10-805

U.S. Government Accountability Office

Number and Percentage of Nonprime Loans Originated from 2000 through 2007 in Different Status Categories by Census Division, as of December 31, 2009

		Prepaid		Current		Delinquent		In Default		In the Foreclosure Process		Completed the Foreclosure Process		Unknown		Seriously Delinquent		Total Active Loans		Total
		Number of Loans	Percentage of Loans (a)	Number of Loans	Percentage of Loans (a)	Number of Loans	Percentage of Loans (a)	Number of Loans	Percentage of Loans (a)	Number of Loans	Percentage of Loans (a)	Number of Loans	Percentage of Loans (a)	Number of Loans	Percentage of Loans (a)	Number of Loans	Percentage of Loans (a)	Number of Loans	Percentage of Loans (a)	Number of Loans	Percentage of Loans (a)
Total	Total Nonprime	7,250,027	50.1	2,680,266	18.5	527,441	3.6	750,011	5.2	624,784	4.3	1,880,858	13.0	763,459	5.3	1,374,795	30.0	4,582,502	31.7	14,476,846	100.0
	Alt-A	2,147,268	42.3	1,529,650	30.1	169,168	3.3	250,576	4.9	266,369	5.2	473,979	9.3	239,164	4.7	516,945	23.3	2,215,763	43.7	5,076,174	100.0
	Subprime	5,102,759	54.3	1,150,616	12.2	358,273	3.8	499,435	5.3	358,415	3.8	1,406,879	15.0	524,295	5.6	857,850	36.2	2,366,739	25.2	9,400,672	100.0
East North Central	Total Nonprime	860,971	46.8	295,508	16.1	70,533	3.8	89,018	4.8	66,837	3.6	332,139	18.1	123,424	6.7	155,855	29.9	521,896	28.4	1,838,430	100.0
	Alt-A	158,053	40.8	123,168	31.8	13,562	3.5	14,616	3.8	17,336	4.5	40,880	10.6	19,389	5.0	31,952	18.9	168,682	43.6	387,004	100.0
	Subprime	702,918	48.4	172,340	11.9	56,971	3.9	74,402	5.1	49,501	3.4	291,259	20.1	104,035	7.2	123,903	35.1	353,214	24.3	1,451,426	100.0
East South Central	Total Nonprime	205,308	42.9	102,321	21.4	26,473	5.5	29,508	6.2	10,626	2.2	74,278	15.5	29,554	6.2	40,134	23.8	168,928	35.3	478,068	100.0
	Alt-A	42,252	41.6	38,696	38.1	3,867	3.8	3,151	3.1	1,868	1.8	8,026	7.9	3,634	3.6	5,019	10.5	47,582	46.9	101,494	100.0
	Subprime	163,056	43.3	63,625	16.9	22,606	6.0	26,357	7.0	8,758	2.3	66,252	17.6	25,920	6.9	35,115	28.9	121,346	32.2	376,574	100.0
Middle Atlantic	Total Nonprime	695,817	53.2	255,761	19.6	55,540	4.2	70,934	5.4	73,816	5.6	92,306	7.1	62,818	4.8	144,750	31.7	456,051	34.9	1,306,992	100.0
	Alt-A	174,068	44.2	127,519	32.4	15,138	3.8	17,672	4.5	24,761	6.3	14,800	3.8	19,511	5.0	42,433	22.9	185,090	47.0	393,469	100.0
	Subprime	521,749	57.1	128,242	14.0	40,402	4.4	53,262	5.8	49,055	5.4	77,506	8.5	43,307	4.7	102,317	37.8	270,961	29.7	913,523	100.0
Mountain	Total Nonprime	743,189	50.2	271,458	18.3	43,567	2.9	68,786	4.6	53,847	3.6	228,533	15.4	70,598	4.8	122,633	28.0	437,658	29.6	1,479,978	100.0
	Alt-A	282,573	43.1	187,562	28.6	19,311	2.9	29,246	4.5	28,315	4.3	82,489	12.6	26,023	4.0	57,561	21.8	264,434	40.3	655,519	100.0
	Subprime	460,616	55.9	83,896	10.2	24,256	2.9	39,540	4.8	25,532	3.1	146,044	17.7	44,575	5.4	65,072	37.6	173,224	21.0	824,459	100.0
New England	Total Nonprime	371,444	57.8	100,277	15.6	22,815	3.6	31,819	5.0	22,572	3.5	60,817	9.5	32,772	5.1	54,391	30.6	177,483	27.6	642,516	100.0
	Alt-A	84,034	47.6	51,685	29.3	6,573	3.7	7,309	4.1	6,935	3.9	10,535	6.0	9,323	5.3	14,244	19.6	72,502	41.1	176,394	100.0
	Subprime	287,410	61.7	48,592	10.4	16,242	3.5	24,510	5.3	15,637	3.4	50,282	10.8	23,449	5.0	40,147	38.2	104,981	22.5	466,122	100.0
Pacific	Total Nonprime	2,134,252	54.4	670,466	17.1	102,081	2.6	208,046	5.3	132,834	3.4	473,556	12.1	199,975	5.1	340,880	30.6	1,113,427	28.4	3,921,210	100.0
	Alt-A	808,225	44.6	487,061	26.9	55,663	3.1	111,797	6.2	75,935	4.2	175,234	9.7	96,296	5.3	187,732	25.7	730,456	40.4	1,810,211	100.0
	Subprime	1,326,027	62.8	183,405	8.7	46,418	2.2	96,249	4.6	56,899	2.7	298,322	14.1	103,679	4.9	153,148	40.0	382,971	18.1	2,110,999	100.0
South Atlantic	Total Nonprime	1,534,748	48.5	587,539	18.6	122,821	3.9	175,054	5.5	226,000	7.1	376,997	11.9	143,527	4.5	401,054	36.1	1,111,414	35.1	3,166,686	100.0
	Alt-A	449,015	38.7	355,678	30.6	42,067	3.6	56,344	4.9	103,741	8.9	106,507	9.2	47,814	4.1	160,085	28.7	557,830	48.0	1,161,166	100.0
	Subprime	1,085,733	54.1	231,861	11.6	80,754	4.0	118,710	5.9	122,259	6.1	270,490	13.5	95,713	4.8	240,969	43.5	553,584	27.6	2,005,520	100.0
West North Central	Total Nonprime	317,231	49.4	113,744	17.7	23,519	3.7	24,908	3.9	13,948	2.2	108,967	17.0	40,392	6.3	38,856	22.1	176,119	27.4	642,709	100.0
	Alt-A	63,630	40.9	55,518	35.7	4,962	3.2	4,652	3.0	3,774	2.4	17,444	11.2	5,533	3.6	8,426	12.2	68,906	44.3	155,513	100.0
	Subprime	253,601	52.1	58,226	12.0	18,557	3.8	20,256	4.2	10,174	2.1	91,523	18.8	34,859	7.2	30,430	28.4	107,213	22.0	487,196	100.0
West South Central	Total Nonprime	387,067	38.7	283,192	28.3	60,092	6.0	51,938	5.2	24,304	2.4	133,265	13.3	60,399	6.0	76,242	18.2	419,526	41.9	1,000,257	100.0
	Alt-A	85,418	36.3	102,763	43.7	8,025	3.4	5,789	2.5	3,704	1.6	18,064	7.7	11,641	4.9	9,493	7.9	120,281	51.1	235,404	100.0
	Subprime	301,649	39.4	180,429	23.6	52,067	6.8	46,149	6.0	20,600	2.7	115,201	15.1	48,758	6.4	66,749	22.3	299,245	39.1	764,853	100.0

Source: GAO analysis of CoreLogic LP data.

(a) Percentage of Loans Seriously Delinquent is share of active loans that are in default or in the foreclosure process. Active loans exclude those that are prepaid or have completed the foreclosure process.

This table includes only those loans with sufficient information (i.e., state or zip code) to assign them to a Census Division

(Status of Nonprime Loans Originated from 2000 through 2007 By Census Division, State, and Congressional District, as of December 31, 2009)

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