Comptroller of the Currency News: OCC Reports Mortgage Performance Improves in Fourth Quarter of 2018

25Mar - by Editor - 0 - In STL.News

WASHINGTON (STL.News) – The Office of the Comptroller of the Currency (OCC) reported a slight improvement in the performance of first-lien mortgages in the federal banking system during the fourth quarter of 2018.

The OCC Mortgage Metrics Report, Fourth Quarter 2018, showed 95.8 percent of mortgages included in the report were current and performing at the end of the quarter, compared to 94.5 percent a year earlier.

The report also showed that servicers initiated 29,515 new foreclosures during the fourth quarter of 2018­, a 3.5 percent increase from the previous quarter and a 14.5 percent decrease from a year ago. 

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