The number of home loan modifications that have been completed has diminished each of the last four months and stands below the year-earlier level.
Residential loan servicers and their service providers were able to complete 32,260 loan modifications during the month of August.
Loan modification volume slipped from the previous month, when there were a total of 33,168 permanent loan modifications that were completed.
Historical data from HOPE NOW, which reported the modification activity, indicates that completed modification volume has slowed each month since April, when there were 43,971.
There were 39,563 permanent modifications in August 2014.
Included in the latest month’ activity were 22,771 proprietary loan modifications.
Proprietary volume was off from 23,434 during July and 29,915 in August 2014.
Also contributing to the August 2015
loan modification total were 9,489 transactions processed through the Home Affordable Modification Program.
HAMP volume was off from 9,734 a month earlier and 9,648 a year earlier.
Since HOPE NOW began tracking HAMP data in December 2009, there have been 1,532,518 permanent modifications generated through the program.
