The Office of the Comptroller of the Currency today released the fourth quarter 2025 mortgage metrics report, which showed that 97.5% of first-lien mortgages in the federal banking system were current and performing at the end of the quarter. The figure was up from 97.4% during the third quarter, and also up from 97.4% from Q4 2024, according to the agency.
The percentage of seriously delinquent mortgages was 1.1% in Q4, unchanged from the previous quarter. Servicers initiated 7,519 new foreclosures in Q4, a decrease from 7,903 foreclosures in Q3.
Servicers completed 5,888 modifications during Q4, a 39% decrease from the previous quarter’s 8,190 modifications. The data reflects a decline in mortgage modifications attributed to changes in secondary market investor loss-mitigation programs. Of the 5,888 modifications, 5,565, or 94.5%, 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 19.2% of all residential mortgage debt outstanding in the U.S. or approximately 10.3 million loans totaling $2.6 trillion in principal balances.
