OCC: Mortgage Performance Unchanged Year-on-Year

The share of current and performing first-lien mortgages in the first quarter of 2018 remained unchanged from a year prior at 95.6 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 8.1 percent from the previous quarter, with 37,300 new foreclosures initiated, but marked a year-over-year decrease of 21.5 percent. Mortgages that were considered seriously delinquent were at 2 percent in the first quarter, down from 2.4 percent in the fourth quarter. Loans that were 30 to 59 days delinquent fell to 1.9 percent from 2.5 percent in the previous quarter.