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Subprime Delinquency Rates at 9/30/02

(based on the number of loans serviced)

(part 1 of 2)

Total

Rank Organization Name Past Due

1 Washington Mutual 24.28%

2 Homecomings/GMAC-RFC 22.86%

3 Fairbanks Capital Corp. 21.00%

4 Saxon Mortgage 19.48%

5 Wilshire Credit Corp. 19.00%

6 Sterling National Mortgage Co. 19.00%

7 Aurora Loan Services, Inc 18.91%

8 PCFS Financial Services 14.95%

9 WMC Mortgage Corp. 14.30%

10 Altegra/Nat'l City Home Loan 10.63%

Servicing Total

Rank Organization Name of Loans Past Due

11 Chase Home Finance 189,177 9.40%

12 Homeq Servicing Corp. 323,527 9.37%

13 Ocwen Financial Corp. 333,616 8.27%

14 Aames Financial Corporaton 29,125 8.20%

15 Option One Mortgage Corp. 216,033 7.47%

16 Equity One, Inc. 54,576 7.43%

17 Centex Home Equity Company 68,056 7.02%

18 Ameriquest Mortgage Corp. 132,074 6.52%

19 Cimarron Mortgage 210 6.32%

20 New South Federal Savings 12,166 5.46%

21 NovaStar Mortgage, Inc. 23,735 5.40%

22 Mortgage Lenders Network, USA 44,340 5.11%

23 Accredited Home Lenders 14,863 4.46%

24 Wendover Financial Services Corp 80,702 2.98%

25 Encore Credit Corp. 1,318 0.70%

26 Household Financial Services 680,000 na

27 CitiFinancial 990,954 na

Totals: 4,426,577 8.33%

(part 2 of 2)

% % % Fore-

Rank 30-59 days 60-89 days 90+ days closures

1 11.48% 3.92% 1.70% 7.18%

2 11.90% 2.25% 3.54% 5.17%

3 na na na na

4 7.88% 2.29% 3.98% 5.33%

5 0.62% 2.38% 11.22% 4.78%

6 8.00% 7.00% 3.00% 1.00%

7 10.69% 3.48% 1.74% 3.00%

8 4.11% 0.99% 5.82% 4.03%

9 1.70% 0.60% 6.30% 5.70%

10 4.62% 1.67% 2.34% 2.00%

% % % Fore-

Rank 30-59 days 60-89 days 90+ days closures

11 3.10% 1.20% 2.10% 3.00%

12 3.74% 1.29% 2.56% 1.79%

13 1.89% 0.33% 1.56% 4.49%

14 0.90% 0.60% 5.80% 0.90%

15 1.84% 0.89% 4.74% 3.76%

16 2.14% 0.94% 4.35% na

17 2.69% 1.10% 0.12% 3.12%

18 1.67% 0.94% 1.09% 2.81%

19 3.91% 1.03% 1.25% 0.13%

20 1.45% 0.55% 1.86% 1.59%

21 1.00% 0.60% 2.20% 1.60%

22 1.56% 0.62% 0.38% 2.55%

23 0.47% 0.26% 2.23% 1.50%

24 1.37% 0.34% 0.65% 0.60%

25 0.50% 0.10% 0.00% 0.10%

26 4.36% na na 1.24%

27 na 3.99% na na

2.90% 1.60% 1.50% 2.03%

Note: Results may be incomplete because some subprime servicers would not disclose their past dues.

Source: Mortgage Servicing News. Questions? Email: Paul.Muolothomsonmedia.com. Copyright c 2003 Thomson Media. All Rights Reserved.

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