Mortgage performance improves for national banks in first quarter; delinquencies decline too

Slightly more mortgages were performing among national banks in the first quarter of this year compared to the end of 2022, their federal regulator said June 27.

According to the Office of the Comptroller of the Currency (OCC) in its OCC Mortgage Metrics Report, 97.6% of mortgages included in the report were current and performing at the end of the quarter, compared with 97.1% in the fourth quarter 2022. The OCC said there was also an improvement compared to first quarter 2022 when 96.9% of mortgages were current and performing.

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 – was 1.1% in the first quarter of 2023, compared to 1.3% in the previous quarter and compared to 1.8% a year ago.

OCC Reports Improvement in Mortgage Performance for First Quarter of 2023