OCC: Performing Mortgages Improve in First Quarter

The percentage of mortgages that were current and performing at the end of the first quarter reached 94.2, up from 93.2 percent at the end of 2014 and up from 93.1 percent a year before, according to the Mortgage Metrics Report released today by the OCC.

Only 2.6 percent of mortgages were seriously delinquent at the end of the first quarter, 16.4 percent lower than a year earlier. The report also showed a decline in foreclosure activity, with 83,058 new foreclosures in the quarter — 8.6 percent lower than a year ago. “Improved economic conditions and foreclosure prevention assistance contributed to the decline in foreclosure activity,” the OCC said.