(Report link below will open to page 14 table showing Portland non prime loans with negative equity in Portland metro was one of lowest , at 12.7%; Seattle non prime negative equity was 25%, Los Ageles 63%, Minneapolis 80%, and Las Vegas 94%.
Several OREGON tables are also found within the report)
Loan Performance and Negative Home Equity in the Nonprime Mortgage Market, GAO-10-146R, December 16, 2009: "This report (1) provides information on the performance of these nonprime loans as of June 30, 2009, and describes forecasts made by others of future loan performance; and (2) examines the extent of negative home equity among nonprime borrowers in selected metropolitan areas and nationwide. In addition, enclosure VI describes the preliminary results of our analysis of the demographic characteristics of nonprime borrowers—including race and ethnicity—whose loans originated in 2005.2 We identified these characteristics by merging loan-level records from two data sources. This report also provides supplemental information on the performance of nonprime mortgages by annual loan cohort, product type, Census division, state, and congressional district. This supplemental information is presented in enclosures I through IV." Originally created and posted on the Oregon Housing Blog.
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