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Monday, March 27, 2017

OCC: Mortgage Performance Improves in Year-on-Year

The share of current and performing first-lien mortgages was 94.7% for the fourth quarter of 2016, up from 94.1% a year earlier, according to the Mortgage Metrics Report released by the OCC. The report is generated from data from seven large national banks representing 35% of all outstanding residential mortgages.

Foreclosure activity was down 28.2% from the year prior, with a total of 45,495 foreclosures initiated during the fourth quarter. Mortgages that were considered seriously delinquent rose slightly from 2.2% in the previous quarter to 2.3%. Loans that were 30 to 59 days delinquent also rose from 2.2% in the third quarter to 2.3%.

Read the report.

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