Magazine article Mortgage Banking

Mortgage Performance

Magazine article Mortgage Banking

Mortgage Performance

Article excerpt

SOURCE: First American LoanPerformance, San Francisco. Prime and subprime data are sourced from the LoanPerformance cooperative servicing databases, representing approximately 80 percent of outstanding mortgages nationwide. These and other loan data are Web accessible through an annual subscription to TrueStandings Servicing.

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To learn more about LoanPerformance, visit www.loanperformance.com/data-power/default.aspx.

First American LoanPorlormance's lending databases track the delinquency and prepayment performance of 50 million active individual mortgage payments per month, and pro vide loan level information on more than S 1.7 trillion in non-agency mortgage-backed securities (MRS) and asset-backed securities (ABS). The company's data and suite of predictive prepayment and risk modeling solutions enable mortgage originators, servicers, securities issuers and investors to make informed business decisions about credit risk, loss mitigation, customer retention, securitization and investment.

* "Seriously Delinquent" (SD) is defined as active mortgage loans that are 90 or more days delinquent, plus those loans in foreclosure.

** "3-Month CPK" is defined as the three-month constant prepayment rate (CPR), an annualized estimate of mortgage loan prepayments, computed by multiplying the average monthly prepayment rate for the most recent preceding three months by four.

*** "2005 Book Vintage Report" reflects current delinquencies on loans originated in 2005.

2005 Prime Book Vintage Report*

                                     2005
                                     (Seriously     National
MSA                                  Delinquent %)  Index

 1 New Orleans, LA                   3.79           621
 2 Biloxi-Gulfport-Pascagoula, MS    3.41           559
 3 Flint, MI                         2.18           357
 4 Sherman-Denison, TX               2.06           338
 5 Shreveport-Bossier City, LA       1.99           326
 6 Lawton, OK                        1.98           325
 7 Kokomo, IN                        1.87           307
 8 Beaumont-Port Arthur, TX          1.84           302
 9 Victoria, TX                      1.79           293
10 Killeen-Temple, TX                1.77           290
11 Muncie, IN                        1.76           289
12 Pine Bluff, AR                    1.69           277
13 Sumter, SC                        1.68           275
14 Jackson, MS                       1.64           269
15 South Bend, IN                    1.63           267
16 Monroe, LA                        1.59           261
17 Indianapolis, IN                  1.58           259
18 Augusta-Aiken, GA-SC              1.54           252
19 Erie, PA                          1.52           249
20 Saginaw-Bay City-Midland, MI      1.51           248
21 Houma, LA                         1.50           246
21 Vineland-Millville Bridgeton, NJ  1.50           246
22 Lafayette, IN                     1.44           236
22 Texarkana, TX-AR                  1.44           236
23 Fort Worth-Arlington, TX          1.43           234
   National                          0.61           100

2005 Subprime Book Vintage Report*

                                2005
                                (Seriously     National
MSA                             Delinquent %)  Index

 1 Kankakee, IL                 19.20          231
 2 Cleveland-Lorain-Elyria, OH  16.39          197
 3 New Orleans, LA              16.04          193
 4 Jackson, MS                  15.60          188
 5 Eau Claire, WI               15.56          187
 6 South Bend, IN               14.97          180
 7 Barnstable-Yarmouth, MA      14.43          174
 8 Youngstown-Warren, OH        13.86          167
 9 Champaign-Urbana, IL         13.66          165
10 New Bedford, MA              13.26          160
11 Kokomo, IN                   13.24          160
12 Brockton, MA                 13. … 
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