Investment bank JPMorgan finds that the level of mortgages more than 60-days overdue continued to increase in the prime space, while generally decreasing for other products. The analysts for the August remittance report said the data indicate delinquencies on prime mortgages have yet to peak. The report tracks the performance of several indices that monitor securitizations. Month-on-month, the numbers do not vary greatly with 60-day delinquencies up to 11.2% across prime indices, 30.9% across Alt-A, 42.7% for option ARM, and 41.5% for subprime. “Modifications and short sales are now keeping a lid on delinquencies in lower credit products,” according to the analysts. Overall, remit figures were similar to the past few months, with some positive signs, including higher voluntary prepays from prime- and stable-loss severities in Pay Option ARMs and subprime. Mortgage modifications continued at roughly the same pace in August as the prior month, the report adds. Overall, there were 4,817 mods across the 307 deals in indices that reported mods this month compared to 4,660 mods last month. The average reduction for principal mods was $64,000, while the average rate reduction was 3.07% for rate mods. Cumulatively, approximately 44% of outstanding subprime loans have been modified, POA have reached 15% to 20%, Alt A is at 7% to 15%, and prime is 5% or less. Write to Jacob Gaffney.