OCC: Mortgage Performance Improved in Q1

The share of current and performing first-lien mortgages in the first quarter of 2019 was 96.2%, up from 95.8% 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% of all outstanding residential mortgages.

Foreclosure activity slowed 6.5% from the previous quarter, with 27,610 new foreclosures initiated, and was down 26% from a year ago. Mortgages that were considered seriously delinquent fell to 1.6%, down from 1.8% in the fourth quarter. Loans that were 30 to 59 days delinquent fell from 2% to 1.8%.