The share of current and performing first-lien mortgages remained unchanged from a year prior at 94.8 percent, according to the Mortgage Metrics Report released on Friday by the OCC. The report is generated from data from seven large national banks representing 33 percent of all outstanding residential mortgages.
Foreclosure activity fell in the third quarter, with 34,266 new foreclosures initiated – a 4.7 percent decrease from the previous quarter and a 28.5 percent decrease from a year ago. Mortgages that were considered seriously delinquent were at 2.1 percent in the second quarter, up from 1.9 percent in the second quarter. Loans that were 30-59 days delinquent rose to 2.6 percent from 2 percent in the previous quarter.
