According to the Mortgage Banker’s National Delinquency Survey, in the third quarter of 2011, there were 51,904 single family subprime loans in Connecticut. This amounts to 9.8% of the total (527,826) single family loans of all types in Connecticut.
Because the survey covers about 88% of first lien single family mortgages in the state, the actual number of subprime loans may be higher. Governor Rell’s 2007 Subprime Mortgage Task Force used this survey and purchased additional data from First American Loan Performance. While the survey reported 66,860 subprime loans in the 2nd quarter of 2007, the task force used the purchased data to report just over 71,000 subprime loans as of May 2007, or about 13% of all active loans in Connecticut.
