The performance of first-lien mortgages serviced by large national banks and federal thrifts improved during the first quarter of 2011, according to a report released today by federal regulators. The quarterly report by the Office of the Comptroller of the Currency and the Office of Thrift Supervision showed that 88.6 percent of the 32.7 million loans in that category were current and performing at the end of the first quarter of 2011. Though delinquencies and foreclosures remained elevated from historical norms, delinquencies improved across all risk categories and for all investors. Mortgages that were 30-59 days delinquent fell to 2.6 percent, the lowest level in three years.  Mortgages more than 60 days past due and delinquent loans to bankrupt borrowers declined for the fifth consecutive quarter to 4.8 percent, the lowest level since the first quarter of 2009. The complete report can be downloaded from the OCC’s website, www.occ.gov.