New OCC Mortgage Metrics Report
Recognizing the need for more granular data to assess the state of troubled mortgage markets, the OCC began in February to require the nine largest national bank mortgage servicers to submit comprehensive mortgage data on a monthly basis. The report analyzes data submitted on each of the more than 23 million loans held or serviced by these nine banks from October 2007 through March 2008. The $3.8 trillion portfolio represents 90 percent of mortgages held by national banks and about 40 percent of mortgages overall. The participating national banks are Bank of America, Citibank, First Horizon, HSBC, JPMorgan Chase, National City, USBank, Wachovia, and Wells Fargo.
The number of current and performing loans remained at about 94 percent over the entire six-month period.
OCC Mortgage Metrics Report