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The number of residential mortgage loans in negative equity fell by 1,621 cases to 1,861 cases with an aggregate value of $3 billion in the fourth quarter last year, the Monetary Authority says.
Compared with the peak of 106,000 cases in June 2003 the number has fallen 98%.
The estimated unsecured portion of these loans was lowered to $400 million. The loan-to-value ratio of the negative-equity residential mortgage loans rose to 117% from 116% at the end of September.
The three-month delinquency ratio of the negative equity residential mortgage loans rose to 1.75% from 1.57% at the end of September due to the contraction of the total portfolio of negative-equity residential mortgage loans.
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