Subprime Lending

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5% of US Mortgages Seriously Delinquent: OCC, OTC Report 

Jun 30, 2009By

Serious delinquencies — mortgages 60 or more days past due and those delinquent but in bankruptcy — rose to 5% of US residential mortgages at the end of the first quarter 2009, up almost double from the 2.7% rate seen in the year-ago period, according to a joint report by the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS).

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