OCC Reports Mortgage Performance for Third Quarter of 2024 — 2024-12-17

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 third quarter of 2024. The OCC Mortgage Metrics Report, Third Quarter 2024 showed that 97.4 percent of mortgages included in the report were current and performing at the end of the quarter, a slight increase from 97.3 percent one year earlier. 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 decreased from the third quarter of 2023. Servicers initiated 6,693 new foreclosures in the third quarter of 2024 showing an increase from the previous quarter and a decrease from the third quarter 2023.