Estimate: 50,000 Owner Occupied Subprime and Alt A ARM Loans will Adjust in Next Year in Oregon and Washington.

I have prepared two tables HERE, that show the number of Oregon and Washington Subprime and Alt A loans, the number of those loans that are ARMS, and my estimate of the number of subprime and Alt A loans that will adjust in the next 12 months (Federal Reserve data is from August, so 12 months runs from August 08-July 09).

Note that this analysis includes a focus on owner occupant subprime and Alt A loans. This data is useful in evaluating the need for states to quickly implement new revenue bond refinancing programs authorized by the federal housing legislation enacted at the end of July.

(The Bond Buyer table graphic HERE shows the additional bond authority allocated to the states in the summer federal housing legislation. In part this additional authority was to provide expanded resources to finance this new new revenue bond refinancing program; Oregon received an additional $123 million in revenue bond authority and Washington received an additional $212 million in revenue bond authority).