Mortgage Performance Improves, Foreclosures Drop in First Quarter
Home mortgage performance improved in the first quarter of 2013, the Office of the Comptroller of the Currency said yesterday, with 90.2 percent of mortgages current and performing and seriously delinquent mortgages falling to 4 percent -- 10.4 percent less than a year earlier.
Loans in the foreclosure process at the end of the quarter fell by 28.6 percent year-on-year, the OCC said, and foreclosures initiated during the quarter fell 37.8 percent year-on-year. Foreclosures completed during the quarter fell by 30.9 percent.
The report also covers mortgage modifications, trends for which also indicate returning health in the housing market, analysts said
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