The percentage of performing mortgages declined slightly in the second quarter from the previous quarter, but remained at levels recorded a year ago, the regulator of national banks said Wednesday.
The Office of the Comptroller of the Currency (OCC) said 97.3% of mortgages included in the report were current and performing at the end of the first quarter 2024, a decrease from the 97.4% in first quarter, and unchanged from the 97.3% a year before that.
However, the OCC said the percentage of seriously delinquent mortgages—those that are 60 or more days past due and all mortgages held by bankrupt borrowers whose payments are 30 or more days past due—remained stable from the previous quarter and a year ago.
Servicers initiated 6,295 new foreclosures in the second quarter of 2024, a decrease from the previous quarter and from a year earlier, the agency said.