A Fine Vintage
January 12th, 2007 by 
reality
Novastar’s September 2006 reporting on 2004-vintage subprime loans. From 13 to 21 months the vintage showed 4-6% 60+ day delinquencies. Many of these loans are 2/28 and so they reset at 24 months. Oops.
| Months of seasoning | 60+day delinquencies |
|---|---|
| 22 | 6.23% |
| 23 | 7.18% |
| 24 | 8.10% |
| 25 | 10.01% |
| 26 | 11.92% |
| 27 | 14.36% |
And just think, the subprime feeding frenzy was just getting started then. A taste of things to come.
Posted in Debt, Real Estate | 