New York Fed to Provide Nationwide U.S. Subprime, Alt-A Loan Data

(CEP News) Washington � The Federal Reserve announced Tuesday that it will provide a set of maps and data illustrating subprime and alt-A mortgage loan conditions across the U.S. on the New York Fed Bank website.

The maps, maintained by the New York Fed, will display regional variations in the condition of securitized, owner-occupied subprime and alt-A mortgage loans.

The Fed suggested the data resource may be used to identify future foreclosure "hotspots", which may assist community groups to "mobilize resources to bring financial counselling to at-risk homeowners."

The maps show a variety of information for each state and most counties and ZIP codes in the United States, including but not limited to: density of loans per 1,000 housing units, loans in foreclosure, real-estate owned loans, the share of adjustable-rate loans, those in current payment status as well as 90-plus days delinquent and in foreclosure, and other data regarding repayment and loan interest rate reset status.

Accompanying data tables report further statistics for states, the Fed noted. The maps and data are drawn from the First American Core Logic, Loan Performance Data loan level data set, and more information is available in technical appendices to the map and tables.

The data will be available at http://www.newyorkfed.org/mortgagemaps/ Monthly updates are planned.

By Michelle Zimmermann, edited by Steve Campbell and Stephen Huebl