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National Banks Report Improving Loan Performance

Friday, June 26, 2015

Another measure of returning normalcy came on Thursday with a report from the Office of Comptroller of the Currency (OCC) on mortgage loan performance.  The regulator said that 94.2 percent of the first mortgages serviced by eight large national banks it regulates were current and performing in the first quarter of 2015.  This is an increase from 93.1 percent in the first quarter of 2014. The mortgages in this portfolio comprise 43.9 percent of all residential mortgages outstanding in the United States-22.7 million loans totaling $3.8 trillion in principal balances.

Loans in early stage delinquency - 30 to 59 days past due - represented 1.9 percent of the total, a 7 percent decrease from a year earlier.  There was a more substantial year-over-year improvement in the percentage of loans that were 60 or more days past due or held by borrowers more than 30 days past due and in bankruptcy, down 16.4 percent to a 2.6 percent rate.


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Thanks for all your hard work on Brian's deal. It went very smoothly. Being a past mortgage person I am always nervous when my peeps are using a new person. You killed it sir!
Brad H., Realtor