The government’s program for modifying home loans saw a month-over-month rise as well as a year-over-year increase in volume.
Residential servicers were successful in completing 29,226 mortgage modifications during the month of November 2016.
The total reflects loans modified through servicers’ own proprietary programs and through
the Home Affordable Modification Program.
HOPE NOW reported the data.
Volume accelerated compared to the previous month, when the completed loan modification count came to 27,841.
Activity also ascended versus the same month in 2015, when
a previously reported 26,312 modifications were completed.
Included in the latest numbers were 18,798 proprietary loan modifications. This category dipped from 18,941 in October
but inched up from 18,621 in November 2015.
Another 10,428 home loans were modified through HAMP during November 2016. HAMP volume climbed from 8,900 a month earlier
and 7,691 a year earlier.
Since HAMP tracking began in December 2009, there have been
1,673,650 permanent modifications completed through the program.
