New Foreclosures Rose 3.5% From Prior Quarter

The Office of the Comptroller of the Currency (OCC) Mortgage Metrics Report for Q4 2019 found new foreclosures rose 3.5% from the prior quarter.

From OCC Mortgage Metrics Report: Fourth Quarter 2019

As of December 31, 2019, the reporting banks serviced approximately 15.7 million first-lien residential mortgage loans with $3.1 trillion in unpaid principal balances. This $3.1 trillion was 29.2 percent of all residential mortgage debt outstanding in the United States.
The seven national banks are Bank of America, Citibank, HSBC, JPMorgan Chase, PNC, U.S. Bank, and Wells Fargo.
The overall performance of mortgages this quarter improved slightly from a year ago. The percentage of mortgages that were current and performing at the end of the fourth quarter of 2019 was 96.5 percent compared with 95.8 percent the previous year.
Servicers initiated 22,248 new foreclosures in the fourth quarter of 2019, an increase of 3.5 percent from the previous quarter and a decrease of 24.6 percent from a year earlier. Home forfeiture actions during the quarter—completed foreclosure sales, short sales, and deed-in-lieu-of-foreclosure actions—decreased 31.5 percent from a year earlier to 9,940.