OCC: Mortgage Performance Improves Slightly in Q2

The share of current and performing first-lien mortgages in the second quarter of 2019 was 96.1%, up from 95.6% a year ago, according to the Mortgage Metrics Report released today by the OCC. The report is generated from seven large national banks representing 30% of all outstanding residential mortgages.

Foreclosure activity slowed 22.5% from the previous quarter, with 21,409 new foreclosures initiated, and was down 27.7% from a year ago. Mortgages that were considered seriously delinquent fell to 1.5%, down from 1.6% in the first quarter. Loans that were 30 to 59 days delinquent ticked up to 2% from 1.8% in the first quarter.