Interesting mortgage delinquency stats
The Comptroller of the Currency's 42-page housing report - released in late June 09 yet providing data for the first qtr 2009 (link) is a review of performance statistics for 34 Million 1st mortgage loans totaling > $6 Trillion (approximately 64 percent of all mortgages outstanding in the United States).
Chart below (click for larger image) is a high level snapshot of some of the data provided
Bottom line/take-away: if this data accurately represents all 1st Liens across the US then >10% of all mortgages were delinquent, seriously delinquent or already in foreclosure by the end of March 2009 - a 130% YoY increase in serious delinquencies and a 75% YoY increase in foreclosures.
One can only imagine how bad the data looks for 2nd notes.
Question: Did I miss any "Green shoots" in the data above? Hope not, because I would really hate to misrepresent the Comptroller of the Currency's report.