Mortgage Performance Stable as Balances Decline

Posted To: MND NewsWire

The second quarter Mortgage Metric Report from the Office of Comptroller of the Currency (OCC) shows a universe of mortgage loans that are performing in a relatively stable manner , with any movement toward further improvement. The report covers seven national banks with large servicing portfolios. In total those institutions were servicing approximately 20.7 million first lien mortgages with $3.6 trillion in unpaid principal balances (UPB). The dollar figure represents 37 percent of all first-lien mortgage debt in the US. At quarter's end, about 89 percent of these loans were being serviced by the national banks for third parties. One trend which OCC did not mention but which stands out strongly in the graphics is the decline in mortgages, in both number and UPB, that are being serviced by...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Mortgage News Daily http://ift.tt/2dBH7Ub