The share of current and performing first-lien mortgages was 94.7 percent for the fourth quarter of 2016, up from 94.1 percent a year earlier, according to the Mortgage Metrics Report released today by the OCC. The report is generated from data from seven large national banks representing 35 percent of all outstanding residential mortgages.
Foreclosure activity was down 28.2 percent 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 percent in the previous quarter to 2.3 percent. Loans that were 30 to 59 days delinquent also rose from 2.2 percent in the third quarter to 2.3 percent. Read the report.