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OCC reports on mortgage performance for fourth quarter

The overall quality of first-lien mortgages serviced by large national and federal savings banks improved from the prior quarter and from the same period a year ago according to a report released recently by the Office of the Comptroller of the Currency.

The OCC Mortgage Metrics Report for the Fourth Quarter of 2012 showed 89.4 percent of mortgages were current and performing at the end of the quarter, compared with 88.6 percent the prior quarter and 88 percent a year earlier. The percentage of mortgages 30 to 59 days past due was 2.9 percent, a decline of 8.2 percent from the previous quarter and 6.1 percent from a year ago. Seriously delinquent mortgages – 60 or more days past due or held by bankrupt borrowers whose payments are 30 days or more past due – remained at 4.4 percent for the third consecutive quarter, down 11.6 percent from a year earlier.

To view the entire report, click here (.pdf).

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