OCC Publishes Mortgage Metrics Report for Second Quarter of 2019
OCC published the Mortgage Metrics Report for the second quarter of 2019. The report presents performance data for loans that the reporting banks own or service for others as a fee-based business. The report showed a slight improvement from 95.6% last year to 96.1% in the performance of first-lien mortgages in the federal banking system during the second quarter of 2019. 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 June 30, 2019.
The first-lien mortgages included in the quarterly report comprise 30% of all residential mortgages outstanding in the United States or approximately 16.3 million loans totaling USD 3.15 trillion in principal balances. The report also showed that servicers initiated 21,409 new foreclosures during the second quarter of 2019, a 22.5% decrease from the previous quarter and a 27.7% decrease from a year ago. Servicers completed 15,683 mortgage modifications in the second quarter of 2019, with 71.7% of the modifications reducing monthly payments of borrowers.
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 Mortgages, OCC
Previous Article
IAIS Publishes Newsletter for September 2019Next Article
OCC Updates Booklets of the Comptroller’s HandbookRelated Articles
|
News
MAS Amends Notice 610 on Reporting Templates for Banks in SingaporeMAS published amendments to Notices 610 and 1003 related to submission of statistics and returns, along with the reporting templates and frequently asked questions (FAQs) associated with these Notices.
January 24, 2020
WebPage
Regulatory News
|
|
News
HKMA Updates Policy Module on Supervisory Review ProcessHKMA is issuing, by notice in the Gazette, revised versions of two Supervisory Policy Manual modules as statutory guidelines under section 7(3) of the Banking Ordinance. The Supervisory Policy Manual modules are CA-G-5 on “Supervisory Review Process” and SB-2 on “Leveraged Foreign Exchange Trading.”
January 24, 2020
WebPage
Regulatory News
|
|
News
PRA Amends Pillar 2 Capital Framework for BanksPRA published the policy statement PS2/20 that contains the final amendments to the Pillar 2 framework and provides feedback to responses to the consultation paper CP5/19 on updates related to Pillar 2 capital framework.
January 23, 2020
WebPage
Regulatory News
|
|
News
FED Proposes to Revise Information Collection Under Market Risk RuleFED proposed to revise and extend, for three years, FR 4201, which is the information collection under the market risk capital rule.
January 22, 2020
WebPage
Regulatory News
|
|
News
HKMA Consults on Stay Rules on Financial Contracts Under FIROHKMA published proposals for making rules related to contractual stays on termination rights in financial contracts for authorized institutions under FIRO or the Financial Institutions (Resolution) Ordinance (Cap. 628).
January 22, 2020
WebPage
Regulatory News
|
|
News
MAS Amends Notices on Minimum Liquid Asset Requirements for BanksMAS published amendments to Notices 1015, 613, and 649 related to the minimum liquid assets (MLA) requirements.
January 21, 2020
WebPage
Regulatory News
|
|
News
APRA Publishes Submission on Fintech and RegtechAPRA published its submission, to the Senate Select Committee, on financial technology and regulatory technology.
January 21, 2020
WebPage
Regulatory News
|
|
News
OSFI to Implement Operational Risk Capital Rules for Banks in Q1 2022OSFI decided to move domestic implementation of the revised Basel III operational risk capital requirements from the first quarter of 2021 to the first quarter of 2022.
January 20, 2020
WebPage
Regulatory News
|
|
News
ECB Consults on Guideline on Threshold for Credit Obligations Past DueECB published a draft guideline, along with the frequently asked questions (FAQs), on the definition of the materiality threshold for credit obligations past due for less significant institutions.
January 20, 2020
WebPage
Regulatory News
|
|
News
OSFI Consults on Instruction Guide for Termination of Pension PlanOSFI is consulting on draft revisions to the instruction guide for termination of a defined benefit pension plan.
January 20, 2020
WebPage
Regulatory News
|
