The Office of the Comptroller of the Currency published its Mortgage Metrics Report for the first quarter of 2025, showing that 97.6 percent of reported first-lien mortgages were current and performing at quarter-end, up from 97.4 percent in the first quarter of 2024. The share of seriously delinquent mortgages fell compared with the first quarter of 2024, while servicers initiated 10,667 new foreclosures, an increase from both the previous quarter and a year earlier. Servicers completed 7,889 loan modifications, up 7.6 percent from 7,332 in the previous quarter; 92.1 percent of modifications were combination modifications involving multiple affordability actions such as interest rate reductions and term extensions. The report covers mortgage performance through March 31, 2025 and includes about 10.9 million first-lien mortgages totaling USD 2.7 trillion in principal balances, representing 20.1 percent of US residential mortgage debt outstanding.
Office of the Comptroller of the Currency 2025-06-20
Office of the Comptroller of the Currency reports first quarter 2025 mortgage performance with 97.6% current and 10,667 new foreclosures
The Office of the Comptroller of the Currency's Mortgage Metrics Report for Q1 2025 indicates that 97.6% of first-lien mortgages were current and performing, an increase from 97.4% in Q1 2024. The share of seriously delinquent mortgages decreased, while new foreclosures rose to 10,667. Loan modifications increased by 7.6% from the previous quarter, with 92.1% involving multiple affordability actions.