Mortgage Performance Improvement Continues

On September 25, the OCC reported that the performance of first-lien mortgages serviced by large national and federal savings banks improved from a year earlier. The OCC Mortgage Metrics Report, Second Quarter 2014, showed 92.9% of mortgages were current and performing at the end of the quarter, compared with 90.6% a year earlier. The percentage of mortgages that were 30 to 59 days past due decreased 17.3% from a year earlier to 2.4% of the portfolio. Seriously delinquent mortgages 60 or more days past due or held by bankrupt borrowers whose payments are 30 days or more past due decreased 17.0% from a year earlier. Report.