Wednesday, May 28, 2008

Subprime Loan Maps

Subprime Loan Maps. Here's a useful new service from the Federal Reserve Bank of New York. The Fed is now offering dynamic interactive maps showing conditions and density of owner-occupied subprime mortgage loans for all U.S. states, counties and zip codes. The maps are based on data for subprime mortgage loans, based on the grade assigned to the security. The underlying data start December 2007. A dozen separate functions are available, such as loans per 1000 housing units, foreclosures per 1000 housing units, REOs per 1000 housing units. Comment by CityEconomist: This is part of what the U.S. Conference of Mayors asked the Mortgage Bankers Association for at their recent Detroit meeting, i.e., a way to estimate what the impact of foreclosures might be in every neighborhood.