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Thursday, March 31, 2011

Seriously delinquent mortgage volume hits two-year low

Some of these seriously delinquent loans where modified.  
The percentage of mortgages classified as seriously delinquent within the portfolios of large banks and thrifts fell in all four quarters of 2010, the Office of the Comptroller of Currency and the Office of Thrift Supervision said Thursday.
The percentage of seriously delinquent mortgages at Dec. 31 dropped to a level not seen since the second quarter of 2009. The report defines seriously delinquent mortgages as those 60 or more days delinquent or delinquent loans to bankrupt borrowers.
The federal agencies said 87.6% of the nearly 33 million loans surveyed were listed as current and performing at the end of the fourth quarter
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