The pace of loan modifications changed little between the final month of 2013 and the first month of this year. But proprietary activity has tumbled by nearly half over the past year.
Residential loan servicers completed 44,237 loan modifications during January. The total included proprietary modifications and modifications completed through the Home Affordable Modification Program.
Activity was little changed from the final month of last year, when a revised 43,426 loan modifications were completed.
But servicers slowed the pace considerably compared to January 2013, when a revised 75,999 modifications were completed.
The statistics were reported Monday by HOPE NOW.
Modifications completed through servicers’ own in-house proprietary programs numbered 28,508 in the latest report.
Proprietary volume was a revised 29,882 in December 2013 and a revised 61,141 in January 2013.
HAMP activity came in at 15,729 in January 2014.
Permanent modifications completed through HAMP were 13,544 a month earlier and 14,858 a year earlier.
HAMP volume since reporting began in 2009 has amounted to 1,327,227.
