The Federal Reserve System offers dynamic maps that show conditions and density of owner-occupied subprime mortgage loans for states, counties, and zip codes in the United States.

The maps are based on data for owner-occupied mortgage loans that have been securitized into a product that is categorized as subprime, based on the grade assigned to the security. 

However, I tried to search by zip code and it said the information was not available.  The data is pretty recent so perhaps they haven’t totally input the information as yet.

The Oregon statistics are as follows:

• Loans Per 1,000 housing units = 22.1
• In foreclosure per 1,000 housing units = 1.3
• REO’s per 1,000 housing units – 0.4
• Share of ARM’s = 65.9%
• # current on their mortgages = 74.9%
• Share 90 days delinquent on their mortgages = 5.7%
• Share in foreclosure = 5.7%
• Median Combined LTV = 89.9%
• Share low FICO and high LTV = 10.5%
• Share low or no documentation = 27.3%
• Share ARM’s resetting in 12 months = 46.9%
• Share late payments within last 12 months = 38.6%

The worst and highest numbers are in these counties:  Columbia, Yamhill, Marion, Polk, and Linn.  The second highest numbers with sub-prime mortgages are in these counties: Multnomah, Clackamas and Washington.  The least number of those with sub-prime mortgage exposure are in these counties: Benton, Lake, Curry, Wheeler, Grant, Wasco.

If you’d like to search further for Oregon or another state CLICK here for the Federal Reserve’s website.

Positive News -

• Bloomberg.com has reported that only 0.58% of the houses in the U.S. with mortgages are in foreclosure and that 99.42% of all homeowners with mortgages are making their payments on time.  Nevada again ranked as having the highest default rate at 2.08%, California at 1.47% and Arizona is at 1.43%.
• The latest S&P/Case-Shiller Housing Index report is available for May.  CLICK here to view. Portland showed an increase for the second straight month!  A March/April increase of 0.3% was followed by an April/May increase of 0.4%.   For the 12 month period ending in May, Portland has been tagged at having a tad bit over 5% negative value in housing prices.  With a base of 100 for the year 2000, Portland is at 175, nationally being one of the better markets for real estate values/investment! It’s been only one out of 3 major cities in the U.S. that has had positive appreciation.
• Oregon also has the lowest foreclosure rate in the U.S. and Portland is one of the most affordable cities on the west coast.  Our job market here is strong and the overall cost of living in Portland is cheaper than in Seattle and five major California cities.  The population in the Portland-Vancouver-Beaverton area is predicted to increase 8% to nearly 2.4 million people in the next 5 years. 

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