OCC Reports Mortgage Performance for Second Quarter of 2024 — 2024-09-18

WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien mortgages in the federal banking system during the second quarter of 2024. The OCC Mortgage Metrics Report, Second Quarter 2024 showed that 97.3 percent of mortgages included in the report were current and performing at the end of the quarter, a decrease from the 97.4 percent in first quarter 2024, and unchanged from the 97.3 percent a year ago. The percentage of seriously delinquent mortgages—mortgages that are 60 or more days past due and all mortgages held by bankrupt borrowers whose payments are 30 or more days past due—remained stable from the previous quarter and a year ago. Servicers initiated 6,295 new foreclosures in the second quarter of 2024, a decrease from the previous quarter and from a year earlier. Servicers completed 7,488 modifications during the second quarter of 2024, a 5.5 percent decrease from the previous quarter’s 7,926 modifications.