The OCC's second-quarter mortgage report, released September 23, says 97.7% of mortgages in its federal-banking-system sample were current and performing at quarter-end, up from 97.5% a year earlier. At the same time, servicers initiated 7,904 foreclosures during the quarter, up from both the previous quarter and a year earlier. Both statements can be true: they describe different measures and different denominators.
The agency also counted 7,349 completed loan modifications in the quarter, a 16.5% increase over the prior quarter's 6,308. Most modifications combined several changes intended to improve affordability and sustainability. The report includes about 10.1 million first-lien loans, representing roughly 18.8% of U.S. residential mortgage debt, through June 30, 2026. It is not a survey of every mortgage or a forecast of what one borrower's lender will do.
If you are struggling to pay, contact the servicer early and ask which loss-mitigation options apply to your loan. HUD lists free housing-counseling help for homeowners at risk of foreclosure. The separate ICE August delinquency figures cover a later month and a different data pool; do not compare the two percentages as if they measure the same set of mortgages.