OCC: Mortgage Performance Improved in Fourth Quarter

The share of current and performing first-lien mortgages in the fourth quarter of 2018 was 95.8 percent, up slightly from 94.5 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 31 percent of all outstanding residential mortgages.

Foreclosure activity increased 3.5 percent from the previous quarter, with 29,515 new foreclosures initiated, and was down 14.5 percent from a year ago. Mortgages that were considered seriously delinquent held steady at 1.8 percent in the fourth quarter. Loans that were 30 to 59 days delinquent fell to 2 percent, down from 2.3 percent in the third quarter.

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About Author

Monica C. Meinert

Monica C. Meinert is deputy editor of the ABA Banking Journal and editorial director at the American Bankers Association, where she oversees ABA Daily Newsbytes.