OCC Reports Mortgage Performance for Fourth Quarter of 2023 — 2024-03-19

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 fourth quarter of 2023. The OCC Mortgage Metrics Report, Fourth Quarter 2023 showed that 97.2 percent of mortgages included in the report were current and performing at the end of the quarter, an increase from the 97.1 percent in fourth quarter 2022, and a decrease from the previous quarter’s 97.3 percent. 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—increased from the prior quarter; however, it has trended down since the fourth quarter of 2021. Servicers initiated 8,320 new foreclosures in the fourth quarter of 2023, a decrease from a year earlier and from the previous quarter.