OCC: Mortgage Performance Unchanged Year-on-Year

The share of current and performing first-lien mortgages in the second quarter of 2018 remained largely unchanged from a year prior at 95.6 percent — compared to 95.4 percent a year ago, 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 decreased 20.6 percent from the previous quarter, with 29,612 new foreclosures initiated, and marked a year-over-year decrease of 17.7 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.