On March 30, the OCC released its “Mortgage Metrics Report,” for the fourth quarter of 2025, covering the performance of approximately 10.3 million first-lien mortgages totaling $2.6 trillion in principal balances or roughly 19.2 percent of all residential mortgage debt outstanding in the United States. The report showed that 97.5 percent of mortgages were current and performing at the end of the quarter, a slight increase from 97.4 percent in 2024. The percentage of seriously delinquent mortgages (i.e., those that are 60 or more days past due, plus all mortgages held by bankrupt borrowers whose payments are 30 or more days past due) remained unchanged from a year earlier.

The OCC reported that servicers initiated 7,519 new foreclosures during the quarter, a decrease from the prior quarter but an increase from the fourth quarter of 2024. Servicers also completed 5,888 loan modifications — a 39 percent decrease from the prior quarter’s 8,190 modifications, which the OCC attributed to changes in secondary market investor loss mitigation programs. Of those modifications, 94.5 percent were “combination modifications” that included multiple actions affecting affordability and sustainability, such as interest rate reductions and term extensions.