OCC Reports Continued Improvement in First-Lien Mortgage Performance

Mortgage Servicing OCC

On December 19, the OCC announced the release of its quarterly Mortgage Metrics Report. The report highlights the mortgage performance of first-lien mortgages serviced by seven national banks and one federal savings association through September 30, 2014. Notably, the report showed 93 percent of mortgages were current and performing at the end of the quarter, compared with 92.9 percent at the end of the previous quarter and 91.4 percent a year earlier. Also, the report showed a 41.5 percent decrease in foreclosure activity in the last year. The mortgages included in this portfolio represent 46 percent of all residential mortgages in the U.S., approximately 24 million loans totaling $4.0 trillion in principal balances.