Differences in judicial and non-judicial foreclosures over the past several months have meant some securitized private-label subprime/Alt-A mortgages made to borrowers in the what is still considered a relatively weak — though improving — California market, for example, are actually exhibiting better performance in some ways as a group than their counterparts in the relatively stronger New York market.

“It’s very interesting and probably a little surprising,” Jonah Green, director of analytics for 1010data said.

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