Growth in Home Affordable Modification Program loan modifications slowed, though the month’s two biggest producers saw bigger increases.
As of July 31, there were 892,897 active permanent HAMP modifications, according to data released this weekend by the Obama administration.
The most recent total was 4,854 more permanent HAMP loan modifications than were active as of June 30.
Growth slowed from June, when active HAMPs expanded by 9,290 modifications. It was also slower than in July 2012, when active permanent modifications grew by 6,675.
Wells Fargo Bank, N.A., ended July with 132,840 active permanent modifications. The company increased the total during July by more than any other mortgage servicer: 2,302. Wells Fargo improved on its 1,469 gain the previous month.
Bank of America, N.A., swung to a gain of 874 from a decline of 7,101 in June, leaving its total active permanent modifications at 92,882.
At JPMorgan Chase Bank, N.A., the gain slipped to 725 in July from 736 a month earlier. Total HAMP modifications in place were 149,954 — the most of any servicer.
July’s fourth-best performance came from CitiMortgage Inc., with an increase of 271 active permanent modifications compared to June. That put its total at 51,843 active HAMPs.
No. 5 was Select Portfolio Servicing Inc., where the 211 gain in July was smaller than the prior month’s 1,218 increase. Select had 27,987 active permanent modifications in place as of July 31.
A decline of 146 active permanent modifications during the latest month gave Nationstar Mortgage LLC the worst monthly performance among the eight servicers on the report. The Lewisville, Texas-based firm had 74,146 active HAMPs as of the most recent date.
