Home Retention Actions were Double Home Forfeitures in Q3

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Posted To: MND NewsWire

The Office of Comptroller of the Currency ( OCC ) reported today that 88.6 percent of the mortgages serviced by selected national federal savings banks were current and performing at the end of the third quarter. The OCC Mortgage Metrics Report released this morning covers portfolios containing 29.8 million loans, 58 percent of all mortgages outstanding in the U.S, with $5.1 trillion in principal balances. The percentage of performing mortgages declined by one tenth of one percent from 88.7 percent in the second quarter, but increased 0.7 percent from the same period a year ago. The early delinquency rate (30 to 59 days past due) increased 10.4 percent in the third quarter to 3.1 percent, 3.6 percent above the rate in the third quarter of 2011 while the percentage of mortgages that were 60...(read more)

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Source: www.mortgagenewsdaily.com

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