The Office of the Comptroller of the Currency today released the second quarter 2026 mortgage metrics report, which showed that 97.7% of first-lien mortgages in the federal banking system were current and performing at the end of the quarter. The figure was unchanged from the previous quarter, and up from 97.5% in Q2 2025, according to the agency.
The percentage of seriously delinquent mortgages was 0.9% in Q2, down from 1% during the previous quarter. Servicers initiated 7,904 new foreclosures in Q2, an increase from 7,818 foreclosures in the previous quarter.
Servicers completed 7,349 modifications during Q2, a 16.5% increase from the previous quarter’s 6,308 modifications, according to the OCC. Of the 7,349 modifications, 7,107, or 96.7%, 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 18.8% of all residential mortgage debt outstanding in the U.S. or approximately 10.1 million loans totaling $2.6 trillion in principal balances.
