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ON THE WEB KNOW WEBSITES TO OCC: 90% OF MORTGAGES CURRENT IN Q1 AS FORECLOSURE EFFORTS CONTINUE FREDDIEMAC.COM/CREDITSMART From Freddie Mac comes CreditSmart, a comprehensive financial education initiative designed to provide consumers with basic information about building savings, personal credit, making wise financial choices, and the path to sustainable homeownership. New borrowers and current homeowners alike can benefit from the GSE's CreditSmart curriculum. REALTOR.COM Xceligent is teaming up with Realtor.com to offer enhanced commercial search functionality. Realtor.com users will have access to hundreds of thousands of commercial real estate listings powered by Xceligent's CommercialSearch site, giving residential investors a starting point to cross over to commercial. The new functionality is expected to launch in Q3 2013. ECLARIFIRE.COM eClarifire.com is the next-generation website of Clarifire, a provider of workflow automation technology. The site allows visitors to test drive Clarifire's dashboard, schedule a demo, or watch a short video about the company and its offerings—all through an interactive, streamlined interface developed to channel the company's slogan: "Brighter Automation." 10 Mortgage performance improved in the first quarter of this year, with 90.2 percent of mortgages current and performing, the Office of the Comptroller of the Currency (OCC) reported in late June. The share of current mortgages is up from 89.4 percent in the previous quarter and 88.9 percent a year earlier. The OCC's report represents 55 percent of all mortgages and is based on data from seven national banks and a federal savings association with the largest mortgage-servicing portfolios. For the most part, delinquencies and foreclosures were down across the board, with the exception of early delinquencies and newly initiated foreclosures. The OCC found the percentage of loans 30 to 59 days past due showed a slight increase yearover-year at 2.6 percent, up 3 percent from the year before, but still down 9.3 percent compared to the previous quarter. Loans past due by 60 to 89 days fell to 0.9 percent, down quarterly and yearly by 16.7 percent and 5.3 percent, respectively. Serious delinquencies (90 days or more past due) averaged 2.1 percent, down 7.5 percent from the previous quarter and 13.6 percent from last year. Furthermore, the number of loans in foreclosure fell to 907,231. That represents a drop of 28.6 percent from a year ago and is down 1.9 percent from the previous quarter. During the first quarter, servicers covered in the report foreclosed on 84,972 properties, a decline of 19.7 percent from the end of last year and 30.9 percent from Q1 2012. As for foreclosure prevention solutions, servicers completed 43,137 short sales in the first quarter, down 30.2 percent from a year earlier, while deeds-in-lieu of foreclosure increased by 151.8 percent to 3,595 during the same time period. Despite a near 14 percent quarterly increase in newly initiated foreclosures, home retention actions far outpaced new foreclosures in the first quarter. During the first three months of this year, the OCC reported servicers implemented 348,733 home retention actions—which include loan modifications, trial-period plans, and payment plans—compared to 178,356 newly initiated foreclosures. Data from the report also revealed loans modified through the Home Affordable Modification Program (HAMP) perform better than non-HAMP mods. For example, in the first quarter of 2012, 37,456 loans were modified under HAMP, of which 4.9 percent were 60 days or more past due three months after modification, compared to 9.3 percent for non-HAMP mods using the same criteria. One year after receiving a HAMP modification, 12.9 percent of loans rolled into 60-day delinquency status compared to 25.4 percent of non-HAMP loan modifications. The OCC also reported 3.02 million mortgages were modified from the beginning of 2008 to the end of last year. As of the end of March 2013, 49.5 percent of the loans were current or paid off, while 12.4 percent were seriously delinquent and 7.4 percent were lost to foreclosure.