Mortgage Metrics Report Shows Increase in "Seasonal" Delinquencies

Hot news from AZ Home Help:

Posted To: MND NewsWire

The performance of mortgages serviced by banks regulated by the Office of Comptroller of the Currency (OCC) declined in the second quarter but was improved over the same period one year earlier according to the OCC Mortgage Metrics Report for the Second Quarter of 2012 released Thursday morning. OCC called the quarterly change in delinquency rates "seasonal." The report covers 30.5 million first-lien mortgages with $5.2 trillion in outstanding balances, about 60 percent of all first-lien mortgages in the United States. OCC reported that 88.7 percent of mortgages serviced by large national and federal savings banks were current and performing at the end of the second quarter, a decline of 2 basis points from Q1, but up from 88.1 percent in the second quarter of 2011. Loans that were 30 to 59...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: www.mortgagenewsdaily.com

- For more real estate news visit our website at http://www.AzHomeHelp.com