The monthly volume of government loan modifications fell to the lowest level since the program went live. But one servicer that managed a monthly gain ascended to the top-producer spot.
Modifications completed under the Home Affordable Modification Program totaled 15,522 during August, according to data released Wednesday by the Barack Obama administration.
It was the slowest month for HAMP volume since the first completed modification was reported in November 2009.
In July, 18,403 loan modifications were completed under the program, while volume was 27,133 in August 2010.
So far this year, 169,339 HAMPs have been completed.
J.P. Morgan Chase Bank, N.A., closed more permanent modifications in August than any other servicer:Â 4,422. Chase lifted volume from 3,611 in July.
At No. 2 Bank of America, N.A., 3,432 HAMPs were completed, falling from the prior month’s 5,408.
Wells Fargo Bank, N.A., followed with 2,129 permanent modifications in August, then 784 at CitiMortgage Inc. and 493 at GMAC Mortgage LLC.
