Featured Product

    OCC Publishes Mortgage Metrics Report for Third Quarter of 2019

    December 19, 2019

    OCC published the Mortgage Metrics Report for the third quarter of 2019. This report presents performance data for the third quarter of 2019 for loans that the reporting banks own or service for others as a fee-based business. OCC collects data on first-lien residential mortgage loans serviced by seven national banks with large mortgage-servicing portfolios. This report provides information on mortgage performance through September 30, 2019. OCC reported a slight improvement in the performance of first-lien mortgages in the federal banking system during the third quarter of 2019.

    The report showed that 96.4% of mortgages included in the report were current and performing at the end of the quarter, compared to 95.4% a year earlier. The report also showed that servicers initiated 21,492 new foreclosures during the third quarter of 2019, a 0.4% increase from the previous quarter and a 24.6% decrease from a year ago. Servicers completed 13,950 mortgage modifications in the third quarter of 2019, and 73.0% of the modifications reduced borrowers' monthly payments. The first-lien mortgages included in the OCC's quarterly report comprise 29.8% of all residential mortgages outstanding in the United States or approximately 16 million loans totaling USD 3.13 trillion in principal balances.

    The OCC Mortgage Metrics Report is published quarterly to promote broader understanding of mortgage portfolio performance and modification activity in the federal banking system and to support supervision of regulated institutions. The report covers the performance of first-lien home mortgages in the portfolios of reporting banks. It excludes junior liens, home equity lines of credit, and home equity conversion mortgages (reverse mortgages).

     

    Related Links

    Keywords: Americas, US, Banking, Mortgage Metrics Report, First Lien Mortgages, Residential Real Estate, Credit Risk, OCC

    Related Articles
    News

    HKMA Announces Repayment Deferment Under Payment Holiday Scheme

    HKMA, together with the Banking Sector Small and Medium-Size Enterprise (SME) Lending Coordination Mechanism, announced a ninety-day repayment deferment for trade facilities under the Pre-approved Principal Payment Holiday Scheme.

    August 05, 2020 WebPage Regulatory News
    News

    ESRB Paper Presents Alternative Approach to EBA Stress Test Proposal

    The Advisory Scientific Committee of ESRB published a response, in the form of an Insights Paper, to the EBA proposals for reforms to the stress testing framework in EU.

    August 05, 2020 WebPage Regulatory News
    News

    MAS Announces Key Initiatives to Support Adoption of SORA

    MAS announced several initiatives to support adoption of the Singapore Overnight Rate Average (SORA), which is administered by MAS.

    August 05, 2020 WebPage Regulatory News
    News

    BoE Updates Template and Definitions for Form ER

    BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.

    August 05, 2020 WebPage Regulatory News
    News

    PRA to Extend Temporary High Balance Coverage Amid COVID Crisis

    PRA published the policy statement PS19/20 on the final policy for extending coverage under the Financial Services Compensation Scheme (FSCS) for Temporary High Balance.

    August 04, 2020 WebPage Regulatory News
    News

    EBA Publishes Standards on Disclosure and Reporting of MREL and TLAC

    EBA published the final draft implementing technical standards for disclosures and reporting on the minimum requirements for own funds and eligible liabilities (MREL) and the total loss-absorbing capacity (TLAC) requirements in EU.

    August 03, 2020 WebPage Regulatory News
    News

    EBA Releases Erratum for Phase 2 Package on Reporting Framework 2.10

    EBA published an erratum for the phase 2 of technical package on the reporting framework 2.10.

    August 03, 2020 WebPage Regulatory News
    News

    EC Sets Out Updated Technical Information for Solvency II Calculations

    EC published the Implementing Regulation 2020/1145, which lays down technical information for calculation of technical provisions and basic own funds.

    August 03, 2020 WebPage Regulatory News
    News

    US Agencies Issue Statement on Additional COVID-19 Loan Accommodations

    FFIEC, on behalf of its members that include US Agencies such as CFPB, FDIC, FED, NCUA, and OCC, issued a joint statement that sets out prudent risk management and consumer protection principles for financial institutions to consider while working with borrowers.

    August 03, 2020 WebPage Regulatory News
    News

    PRA Consults on Implementation of Certain Provisions of CRD5

    PRA, via the consultation paper CP12/20, proposed changes to its rules, supervisory statements, and statements of policy to implement certain elements of the Capital Requirements Directive (CRD5).

    July 31, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5623