Servicers Report Loan Performance Continued to Increase in Q4

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Posted To: MND NewsWire

The Office of Comptroller of the Currency (OCC) is reporting that the quality of mortgage loans serviced by selected national and federal savings banks continued to improve in the fourth quarter of 2012. OCC's Mortgage Metric Report covers 29.0 million loans with $4.9 trillion in principal balances, approximately 57 percent of outstanding mortgage loans in the U.S. Current and performing loans increased from 88.6 percent in the third quarter to 89.4 percent at the end of December. In December 2012 performing loans constituted 88.0 percent of first lien mortgages. The 30+ day delinquency rate was 2.9 percent, a decline of 8.2 percent from the third quarter and 6.1 percent from a year earlier. Serious delinquencies - over 60 days or held by borrowers in bankruptcy, represented 4.4 percent of...(read more)

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Source: http://www.mortgagenewsdaily.com/03272013_occ_loan_metrics.asp

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