The total dollar amount of outstanding mortgage subprime loans in the nation fell to $714 billion at June 30, a 45% decline from the peak back in 2007, according to figures compiled by National Mortgage News and the Quarterly Data Report.
National Mortgage News/QDR also found that subprime delinquencies held steady at about 33% with foreclosures rising slightly to 13%.
However, the delinquency figures are based on a sample of less than 10 subprime servicers. Many firms surveyed by the newspaper will no longer disclose their A- to D delinquency rates publicly.
Currently, 20 firms are actively servicing subprime loans.
Subprime loans have been reduced, in part, through foreclosure and the refinancing of these risky products into more conventional mortgages.
National Mortgage News calculated that based on the peak subprime debt figure of $1.3 trillion, at least $429 billion of A- to D loans are in some form of arrears or foreclosure
