Primary mortgages serviced by large national financial firms improved from the same period a year ago but showed seasonal decline from the prior quarter, according to the Office of the Comptroller of the Currency.

In 2Q 2012, 88.7% of mortgages were current. That's down from 88.9% but up from 88.1% a year earlier. 

The percentage of mortgages that were 30 to 59 days past due is up 12%, however, but down 7.5% from this time last year.

Seriously delinquent mortgages are at a three-year low.

The OCC attributes gains to mortgage servicer commitment to foreclosure alternatives and other economic improvements.

Mortgage servicers implemented 416,036 new home retention actions during the quarter, while starting 302,636 new foreclosures. 

The OCC found the average mortgage modification reduced monthly payments by 24.6%, or $381.  Changes under the Home Affordable Modification Program reduced payments by 35.3%, or $576.