Banking

Mortgage Metrics Report: Share of carrying out home loans increases in Q3

The share of existing and carrying out first-lien home loans in the 3rd quarter of 2022 was 97.2%, up from 95.6% a year earlier, according to the Mortgage Metrics Report launched by the OCC today. Servicers started 9,835 brand-new foreclosures in the 3rd quarter, a reduction from the previous quarter however up from a year earlier.

Mortgages that were thought about seriously overdue fell from 1.5% in the 2nd quarter to 1.3% in the 3rd quarter, while loans that were 30 to 59 days overdue edged below 1.3% in the 2nd quarter to 1.2% in the 3rd quarter. The report is created from 7 big nationwide banks representing 22% of all exceptional property home loans.

Gabriel

A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

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