The Office of the Comptroller of the Currency (OCC) announced that 97.7 percent of first-lien mortgages in the federal banking system were current and performing at the end of the first quarter of 2026, a slight increase from 97.6 percent in the same period of 2025. The percentage of seriously delinquent mortgages remained unchanged from the first quarter of the previous year.
Servicers initiated 7,818 new foreclosures during the first quarter of 2026, an increase from the prior quarter but a decrease compared to a year earlier. Additionally, 6,308 loan modifications were completed, marking a 7.1 percent rise from the 5,888 modifications in the previous quarter.
Of the completed modifications, 6,002, or 95.1 percent, were "combination modifications," involving multiple actions to enhance loan affordability and sustainability, such as interest rate reductions and term extensions. The OCC's report covers approximately 19.1 percent of all residential mortgage debt outstanding in the United States, encompassing about 10.2 million loans with $2.6 trillion in principal balances.