More than 25 percent of the county’s Alt-A loans were at least 60 days delinquent in March. That’s a huge increase from a year ago, when 12 percent of the outstanding Alt-A loans were at least that far delinquent, according to LoanPerformance data from First American Core Logic.
A bigger portion of subprime loans are that far behind on payments, but the increase was much smaller in the last year. This March, 38.5 percent of the active subprime loans in the county were at least 60 days delinquent — up slightly from 33 percent in March 2008.
There are more active Alt-A loans than subprime. Of all of the active mortgages in San Diego County, 7 percent are subprime, and 14 percent are Alt-A. The other 79 percent are prime, typically more conventional loans.
