The share of current and performing first-lien mortgages in the fourth quarter of 2017 remained unchanged from a year prior at 94.5 percent, according to the Mortgage Metrics Report released today by the OCC. The report is generated from data from seven large national banks representing 33 percent of all outstanding residential mortgages.
Foreclosure activity ticked up 0.7 percent from the third quarter, with 34,519 new foreclosures initiated, but marked a year-over-year decrease of 24.1 percent. Mortgages that were considered seriously delinquent were at 2.4 percent in the fourth quarter, up from 2.1 percent in the third quarter. Loans that were 30 to 59 days delinquent fell to 2.5 percent from 2.6 percent in the previous quarter.
