A mortgage picture
Whose exotic loans are doing worse -- Baltimore's or Washington's?
The Federal Reserve Bank of Richmond, which oversees an area that includes both metros, has put together maps with LoanPerformance data that show the subprime and "Alt-A" mortgage situation in the wider region. Subprime loans were designed (if not always given) to people with poor credit or high debt, while so-called Alternative A loans were in the gray area between subprime and traditional products.
For a map showing the percentage of homeowners more than 90 days behind on their subprime mortgages, click HERE.
For a map showing the percentage of homeowners more than 90 days behind on their Alt-A mortgages, click HERE.Thanks to the Fed for sharing.
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Comments
Thanks for sharing this info Jamie. I wish they would release the actual data by county or zip
Posted by: Kevin | March 15, 2008 4:23 PM
That's not up to the Fed -- it's up to LoanPerformance, which owns the data. If that issue gets worked out, I'll be sure to ask the Fed for its more detailed maps.
Posted by: Jamie Smith Hopkins | March 15, 2008 4:33 PM
Do you have any idea about the percent of mortgages that are subprime? Alt-A? Those numbers would be good to put these and other foreclosure numbers into perspectives.
Posted by: pippen | March 17, 2008 9:00 AM
Hi Pippen -- the Fed had separate maps for that. The Baltimore metro area is in the 4.6-6 percent range for subprime loans and in the 2.1-5 percent range for Alt-A (same as Washington).
Posted by: Jamie Smith Hopkins | March 17, 2008 9:18 AM