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Seven States Are Driving Higher Default Rates

State # Loans 30-Day Fcl. Inv. Fcl. Starts SD

Arizona 1.2M 3.55% 0.78% 0.49% 1.35%

California 5.6M 3.57% 1.12% 0.65% 1.86%

Florida 3.4M 5.18% 1.42% 0.73% 2.39%

Indiana .9M 7.04% 3.01% 0.91% 4.60%

Michigan 1.5M 7.55% 2.77% 1.00% 4.61%

Ohio 1.4M 6.68% 3.60% 0.98% 5.22%

Nevada .6M 4.41% 1.57% 0.89% 2.53%

Source: MBA. Notes SD=Serious Deliquency (90 Days overdue and foreclosure inventory). (c) 2007 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com http://www.sourcemedia.com

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