Week of July 9

In This Issue…

OCC reports improvement in mortgage performance

The Office of the Comptroller of the Currency reported a slight improvement in the performance of first-lien mortgages in the federal banking system during the first quarter of 2019.

The “OCC Mortgage Metrics Report, First Quarter 2019” showed 96.2 percent of mortgages included in the report were current and performing at the end of the quarter, compared to 95.6 percent a year earlier.

The report also showed that servicers initiated 27,610 new foreclosures during the first quarter of 2019­, a 6.5 percent decrease from the previous quarter and a 26 percent decrease from a year ago. Servicers also completed 17,561 mortgage modifications in the first quarter of 2019, and 72.6 percent of the modifications reduced borrowers’ monthly payments.

The first-lien mortgages included in the OCC’s quarterly report comprise 31 percent of all residential mortgages outstanding in the United States or approximately 16.7 million loans totaling $3.2 trillion in principal balances. This report provides information on mortgage performance through March 31, 2019, and it can be downloaded from the OCC’s website at www.occ.gov.

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Annual Washington Visit scheduled

The OBA’s Annual Washington Visit has been scheduled for Sept. 15-17, 2019, and the hotel will be the Trump International Hotel Washington D.C.

Additionally, NEW this year, we are offering an offsite excursion to Mount Vernon that will include transportation, private tour (of the historic area, mansion & tomb), lunch and free time to explore the grounds.

Registration information should be hitting your bank shortly, but you can also download the registration and information form, and get more info on the hotel, by clicking here.

If you have any questions, contact Adrian Beverage or Megan McGuire at the OBA

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2019 Convention Golf Tournament rescheduled

Did you miss the 2019 Convention Golf Tournament? Well here’s your chance to show off your golfing skills!

We have rescheduled the tournament for July 29 at the River Oaks Golf Club. The tournament fee is $140 and the registration deadline is July 24. The tournament will begin with registration and a continental breakfast. Immediately following the tournament, we will hold an awards ceremony and provide lunch for the players. Sign up now to reserve your spot. We hope to see you on the course!

Click here to register for the rescheduled 2019 Convention Golf Tournament.

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OBA education corner …

Summer is officially here and for those of us who spend any amount of time outside, it’s easy to believe! Take advantage of the following OBA education opportunities and stay inside where its cool!

Take note of the following events:

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