A mild month-over-month bump was recorded for residential loan modifications that were done through mortgage servicers’ own proprietary programs.
During February 2017, servicers successfully completed 29,729 loans modifications, including proprietary and Home Affordable Loan Modifications.
Volume rose from 19,850 a month earlier. Loan modification volume also increased from the same month last year, when there were
27,056 completed.
HOPE NOW — a voluntary private-sector alliance of servicers, investors, mortgage insurers and non-profit counselors — reported the numbers.
Proprietary modifications rose to 20,284 last month from 19,850 in January and 18,894 in February 2016.
But HAMP activity slowed to 9,445 from 9,521 a month earlier. Still, there were more HAMP modifications than 8,162 a year earlier.
HOPE NOW reports
1,702,078 HAMP permanent modifications completed since tracking began in July 2007.
