OCC Reports Improvement in Mortgage Performance for First Quarter of 2023 — 2023-06-27

WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported an improvement in the performance of first-lien mortgages in the federal banking system during the first quarter of 2023 compared to the previous quarter. The OCC Mortgage Metrics Report, First Quarter 2023 showed that 97.6 percent of mortgages included in the report were current and performing at the end of the quarter, compared with 97.1 percent in the fourth quarter 2022. There was also an improvement compared to first quarter 2022 when 96.9 percent of mortgages were current and performing. 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 – was 1.1 percent in the first quarter of 2023, compared to 1.3 percent in the previous quarter and compared to 1.8 percent a year ago.