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Delinquencies Double on Least-Risky Loans, U.S. Says
By Margaret Chadbourn

June 30 (Bloomberg) -- Delinquency rates on the least-risky mortgages more than
doubled in the first quarter from a year earlier as U.S. efforts to help homeowners
failed to keep pace with job losses that pushed more borrowers toward foreclosure.

Prime mortgages 60 days or more past due climbed to 2.9 percent of such loans through
March 31 from 1.1 percent at the same point in 2008, the Office of the Comptroller of
the Currency and the Office of Thrift Supervision said today in a report. First-time foreclosure
filings on the loans rose 22 percent from the fourth quarter, the report said.

“I’m very concerned about the rise in delinquent mortgages and foreclosure actions,”
Comptroller of the Currency John Dugan said in a statement with the report

http://www.bloomberg.com/apps/news?p...d=amq8v.M.ak60

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