Mortgage Metrics Report: Goodies #2--Oregon Data.

In my earlier post HERE, I extracted some national data from the third Quarter 2010 OTS Mortgage Metrics report, which can be found using the link the right pane.

For the first time this report includes state data and I have consolidated select table data for the US, Oregon, Idaho, and Washington in a PDF document I created HERE. 

Some observations (and report problems):

1. Table 48: During the THIRD quarter there were a total of 2,517 Oregon loan modifications implemented. ONLY 590 (23.4%) of these loan modifications were HAMP loan modifications and 1,927 (76.6%) were NON HAMP modifications.
2. Table 53: 425 of a total of 2,517 Oregon modifications implemented in THIRD quarter were modifications that reduced principal and interest payment by 20% or more.(Problem: Adding columns does not equal total modifications column in this table).
3. Table 54: Shows that 55.9% of Oregon modifications in THIRD quarter decreased principal and interest payments by 20% or more. (Problem: That % is not consistent   with values in table 53).
4. Table 56: 18.3 % of ALL Oregon Loans modified in the FIRST quarter were 60 days or more delinquent after 6 months. That % declines to 11.7% for loans where principal and interest was decreased by 20% or more.(Using data in this table I calculate that 439 of 2,399 Oregon loans modified in the FIRST quarter were 60 days or more delinquent 6 months later).
5. General problems: Data for HAMP and non HAMP loans are lumped together so it is not possible at state level to see relative performance of HAMP loan modifications vs NON HAMP loan modifications. There is also no breakout of GSE or government assisted loan modification performance at the state level.

Originally created and posted on the Oregon Housing Blog.