During the final month of 2011, the number of loan modifications completed under the government’s program saw the smallest gain in the history of the program.
The Obama administration reported that 762,839 permanent loan modifications were active as of Dec. 31, 2011. The modifications were completed through the Home Affordable Modification Program.
That was a gain of 12,091 over November — the smallest gain on record. The government began reporting HAMPÂ volume for November 2009, when 31,382 modifications were completed.
Volume dropped from 15,284 in November and 16,982 in December 2010.
JPMorgan Chase Bank, N.A., had the biggest gain of any servicer during December: 5,149. Volume was down, however, from 6,670 in November.
Bank of America, N.A., swung from a 12,245 decrease in permanent HAMPs during November to a 2,560 gain.
Wells Fargo Bank, N.A., slipped to 1,159 HAMPSÂ from 1,284.
But OneWest Bank increased to 630 from 527, while American Home Mortgage Servicing Inc. grew its activity to 459 from 367.
