The Office of the Comptroller of the Currency today released the third quarter 2025 mortgage metrics report, which showed that 97.4% of first-lien mortgages in the federal banking system were current and performing at the end of the quarter. The figure was down from 97.5% during the second quarter and unchanged from Q3 2024, according to the agency.
The percentage of seriously delinquent mortgages was 1.1% in Q3, up from 1% the previous quarter. Servicers initiated 7,903 new foreclosures in Q3, an increase from 7,163 foreclosures in Q2.
Servicers completed 8,190 modifications during the third quarter of 2025, a 2.7% decrease from the previous quarter’s 8,419 modifications. Of these 8,190 modifications, 7,755, or 94.7%, were “combination modifications” — modifications that included multiple actions affecting the affordability and sustainability of the loan, such as an interest rate reduction and a term extension.
The first-lien mortgages included in the OCC’s quarterly report comprise approximately 20% of all residential mortgage debt outstanding in the U.S. or approximately 10.5 million loans totaling $2.7 trillion in principal balances.
