News Release 2020-78 | June 16, 2020

WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported the performance of first-lien mortgages in the federal banking system remained stable during the first quarter of 2020.

The OCC Mortgage Metrics Report, First Quarter 2020 showed 96.5 percent of mortgages included in the report were current and performing at the end of the quarter, compared to 96.2 percent a year earlier.

The report also showed that servicers initiated 19,815 new foreclosures during the first quarter of 2020­, a 10.9 percent decrease from the previous quarter and a 28.2 percent decrease from a year ago. Servicers completed 14,241 mortgage modifications in the first quarter of 2020, and 85.7 percent of the modifications reduced borrowers’ monthly payments.

The first-lien mortgages included in the OCC’s quarterly report comprise 28.7 percent of all residential mortgages outstanding in the United States or approximately 15.4 million loans totaling $3 trillion in principal balances. This report provides information on mortgage performance through March 31, 2020, and it can be downloaded from the OCC’s website, www.occ.gov.

Related Link

Media Contact

Stephanie Collins
(202) 649-6870

IR Press

Share
Published by
IR Press

Recent Posts

Treasury Issues Final Rule Expanding CFIUS Coverage of Real Estate Transactions Around More Than 60 Military Installations

WASHINGTON – Today, the U.S. Department of the Treasury (Treasury), as Chair of the Committee…

2 days ago

U.S. Department of the Treasury’s CDFI Fund and Federal Housing Finance Agency Collaborate to Bolster CDFI Access to Capital

WASHINGTON—Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) and…

2 days ago

Report on U.S. Portfolio Holdings of Foreign Securities at Year-End 2023

Washington – The findings from the annual survey of U.S. portfolio holdings of foreign securities…

3 days ago

READOUT: U.S. Department of the Treasury Hosts Roundtable Discussion on the Financial Sector’s Response to Recent Hurricanes

WASHINGTON – The U.S. Department of the Treasury hosted a roundtable on October 30 with…

3 days ago

READOUT: Sixth Meeting of the Financial Working Group Between the United States and the People’s Republic of China

WASHINGTON – The United States and the People’s Republic of China held the sixth meeting…

3 days ago

Treasury Sanctions Key Members of La Linea, a Group Involved in Trafficking Fentanyl into the United States

WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned…

3 days ago