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VA Loans See Increase in Delinquency Rates

For the fourth quarter of 2008, on a year-over-year basis, the delinquency rate increased 182 basis points for prime loans, increased 457 basis points for subprime loans, increased 68 basis points for FHA loans, and increased 103 basis points for VA loans.

The percent of loans in the foreclosure process increased nine basis points for FHA loans and 54 basis points for VA loans. The non-seasonally adjusted foreclosure starts rate increased 22 basis points for VA loans. The seriously delinquent rate increased 98 basis points for FHA loans and 129 basis points for VA loans.