The outstanding dollar amount of subprime mortgage debt fell 10% in the second quarter to $374.8 billion as these nonconventional loans continue to “disappear” from servicing portfolios due to foreclosure and, in some cases, refinancings into prime loans.

According to exclusive survey figures compiled by ASR sister publication National Mortgage News and the Quarterly Data Report, the only subprime servicers growing their A- to D portfolios are firms specializing in high-touch mortgages that others are desperately trying to unload.

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