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Loan Performance up, Non-Prime Delinquencies Remain Elevated

Monday, December 14, 2015

The Office of Comptroller of the Currency (OCC) reported on Monday that mortgage performance continued to improve during the third quarter.  Both rates of delinquency declined as did foreclosure activity.  Delinquency, however, varied considerably among loan types.  The OCC Mortgage Metrics Report covers a portfolio of 21.8 million loans with $3.7 trillion in unpaid balances - 42 percent of all first mortgages outstanding in the U.S. Seven-seven percent of the loans are considered prime mortgages with 10 percent or less each of Alt-A, sub-prime, and "other" products.

At the end of the third quarter 93.9 percent of all mortgages held in the portfolios of reporting banks were current and performing, up from 93.0 percent in the second quarter. 

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