OCC and OTS Mortgage Metrics Report
January — June 2008
Overall Mortgage Performance
More than nine out of 10 mortgages remain current. However, credit quality declined during the second quarter across all risk categories. The overall percentage of current and performing mortgages in the combined portfolio declined from 93.35 percent at the end of the first quarter to 92.61 percent at the end of the second quarter.
Loans 60-89 days delinquent increased during the second quarter from a low of 0.96 percent at the end of March to 1.06 percent at the end of June. Delinquencies of 90 days or more increased from 1.23 percent in March to 1.38 percent in June. Loans delinquent 60-89 days and 90 days or more increased in each month during the second quarter of 2008.
Foreclosures in process increased in each month of the second quarter from 483,375, or 1.40 percent of the total portfolio, in March to 555,680, or 1.60 percent, in June.
Total Mortgage Portfolio
(% of all mortgage loans in the portfolio) |
| |
Jan-08 |
Feb-08 |
Mar-08 |
Apr-08 |
May-08 |
Jun-08 |
| Current and performing |
93.15% |
93.36% |
93.35% |
92.99% |
92.97% |
92.61% |
| 30-59 days delinquent |
2.85% |
2.65% |
2.57% |
2.76% |
2.67% |
2.85% |
| The following three categories are classified as seriously delinquent. |
| 60-89 days delinquent
| 1.07% |
0.97% |
0.96% |
1.00% |
1.02% |
1.06% |
| 90+ days delinquent
| 1.23% |
1.23% |
1.23% |
1.28% |
1.31% |
1.38% |
| Bankruptcy 30+ days delinquent |
0.47% |
0.47% |
0.48% |
0.49% |
0.50% |
0.51% |
| Subtotal for seriously delinquent |
2.77% |
2.66% |
2.67% |
2.77% |
2.83% |
2.95% |
| Foreclosures in process |
1.24% |
1.33% |
1.40% |
1.48% |
1.53% |
1.60% |
Total Mortgage Portfolio
(Number of mortgage loans in the portfolio) |
| Current and performing |
32,107,266 |
32,235,790 |
32,179,572 |
32,199,990 |
32,314,069 |
32,187,260 |
| 30-59 days delinquent |
980,836 |
914,123 |
886,194 |
955,558 |
928,730 |
990,488 |
| The following three categories are classified as seriously delinquent. |
| 60-89 days delinquent |
368,646 |
334,151 |
330,384 |
347,502 |
354,447 |
368,560 |
| 90+ days delinquent |
425,033 |
423,204 |
425,076 |
443,117 |
455,427 |
478,459 |
| Bankruptcy 30+ days delinquent |
160,417 |
162,385 |
165,647 |
169,790 |
172,737 |
176,867 |
| Subtotal for seriously delinquent |
954,096 |
919,740 |
921,107 |
960,409 |
982,611 |
1,023,886 |
| Foreclosures in process |
426,757 |
457,899 |
483,375 |
510,513 |
532,253 |
555,680 |
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