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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"
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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