The number of delinquent mortgages rose while foreclosures also jumped in the third quarter, according to a report released Wednesday by federal regulators.

The Office of Comptroller of the Currency (OCC) and Office of Thrift Supervision (OTS) said that overall credit quality of the portfolio of first-lien mortgages remained steady during the third quarter of 2010 but a large number of seriously delinquent borrowers were moved through the foreclosure process after home retention efforts were exhausted.

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