Slightly more mortgage loans were performing at midyear than in the previous year, the national bank regulator reported Wednesday – and the percentage of seriously delinquent mortgages fell from the year before, the agency added.
In its Mortgage Metrics Report, Second Quarter 2025, the Office of the Comptroller of the Currency (OCC) said 97.5% of mortgages in the report were current and performing at the end of the quarter, up from 97.3% one year earlier.
Loans classified as “seriously delinquent,” according to the report, were at 1.0% of all mortgage loans, the report stated. A year before, the seriously delinquent rate was 1.1%, according to the report.
However, the report also shows that new foreclosure actions initiated were up at midyear to 7,163 from a year before, when 6,295 foreclosures were initiated. Both figures were dwarfed by foreclosures initiated in the first quarter of this year, for 10,667 – the highest number in two years.
Loan modifications were up as well, with 8,419 modifications during the second quarter, a 6.7% increase from the previous quarter’s 7,889 modifications. “Of these 8,419 modifications, 7,968, or 94.6%, were ‘combination modifications’ — modifications that included multiple actions affecting the affordability and sustainability of the loan, such as an interest rate reduction and a term extension,” the OCC said.
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