Non-traditional mortgage structures make up an increasing portion of non-prime originations

Period Share of Total Nonprime Mortgage Originations Included in Non-agency Mortgage-Backed Securities— Interest Only Share of Total Nonprime Mortgage Originations Included in Non-agency Mortgage-Backed Securities— Payment Option
Jan-01 0.99% 0.08%
Feb-01 1.78% 0.05%
Mar-01 1.44% 0.05%
Apr-01 1.02% 0.02%
May-01 1.09% 0.03%
Jun-01 1.14% 0.01%
Jul-01 1.58% 0.03%
Aug-01 1.42% 0.02%
Sep-01 1.09% 0.02%
Oct-01 0.94% 0.03%
Nov-01 0.97% 0.02%
Dec-01 1.08% 0.05%
Jan-02 0.75% 0.04%
Feb-02 1.36% 0.02%
Mar-02 2.19% 0.08%
Apr-02 1.66% 0.11%
May-02 1.68% 0.09%
Jun-02 2.83% 0.15%
Jul-02 3.32% 0.15%
Aug-02 3.66% 0.12%
Sep-02 4.17% 0.10%
Oct-02 5.03% 0.17%
Nov-02 5.85% 0.15%
Dec-02 6.36% 0.21%
Jan-03 6.20% 0.24%
Feb-03 6.63% 0.18%
Mar-03 7.10% 0.17%
Apr-03 6.41% 0.18%
May-03 8.53% 0.29%
Jun-03 8.68% 0.34%
Jul-03 8.82% 0.27%
Aug-03 9.28% 0.34%
Sep-03 9.66% 0.74%
Oct-03 10.98% 0.95%
Nov-03 12.78% 1.04%
Dec-03 15.13% 1.26%
Jan-04 15.68% 1.54%
Feb-04 18.93% 0.99%
Mar-04 22.47% 1.24%
Apr-04 24.60% 1.18%
May-04 26.76% 1.54%
Jun-04 29.88% 2.98%
Jul-04 29.98% 4.24%
Aug-04 28.52% 5.82%
Sep-04 30.31% 5.65%
Oct-04 28.97% 6.18%
Nov-04 29.67% 5.72%
Dec-04 28.57% 7.22%
Jan-05 26.46% 8.46%
Feb-05 25.92% 11.43%
Mar-05 26.88% 15.64%
Apr-05 23.38% 18.92%
May-05 27.81% 15.67%
Jun-05 29.39% 19.01%

Source: LoanPerformance
This chart includes a note that says, "Nonprime mortgage originations included in non-agency securitizations during the first half of 2005 totaled $299.4 billion, or approximately 22 percent of the value of all U.S. mortgage originations during this period." There is an arrow pointing from this note to a section of the chart representing January 2005 through June 2005.