Monthly government loan modification volume grew, though the level of proprietary modifications slowed. But compared to a year earlier, both government and proprietary activity was down.
As of February, there were 782,609 active permanent modifications completed under the Home Affordable Modification Program, according to the Department of the Treasury.
Federal Housing Administration modifications are excluded from the data.
The latest total was 13,836 more than the number of completed HAMPs as of January.
The increase was bigger than the prior month’s gain of 5,934 but less than the 17,583 increase in February 2011.
Proprietary, non-HAMP modifications completed in February totaled 44,549, according to HOPEÂ NOW. That was a decline from 55,775 in January and also worse than 60,936 proprietary modifications previously reported for February a year earlier.
After falling into negative territory during January, Bank of America, N.A., regained the lead in February and increased its active permanent HAMP modifications by 3,385.
Next was JPMorgan Chase Bank, N.A., where active permanent HAMPs grew by 3,240.
After that was a 1,672 increase at Wells Fargo Bank, N.A.’, OneWest Bank’s gain of 974 HAMPs and American Home Mortgage Servicing Inc.’s 624.
