OCC: Mortgage Performance Improved Year-on-Year

The share of current and performing first-lien mortgages in the third quarter of 2018 was 95.4 percent, up from 94.8 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 32 percent of all outstanding residential mortgages.

Foreclosure activity fell 3.7 percent from the previous quarter, with 28,508 new foreclosures initiated, and was down 16.8 percent from a year ago. Mortgages that were considered seriously delinquent held steady at 1.8 percent in the third quarter. Loans that were 30 to 59 days delinquent ticked up slightly to 2.3 percent from 2.1 percent in the second quarter.