Mortgage servicers collectively completed more government loan modifications on a monthly basis. The biggest producer saw activity more than double.
U.S. servicers managed a gain in the number of monthly modifications completed under the Home Affordable Modification Program.
Data released from the Department of the Treasury indicate that 17,863 HAMP modifications were completed in January.
Activity strengthened from 16,982 in December but was just a fraction of the 49,535 government modifications completed in January 2010.
Since the first HAMP modification was reported in November 2009, there have been 539,493 permanent modifications completed under the program.
January’s busiest servicer was Wells Fargo Bank, N.A., where 4,299 HAMPs were completed. Volume at Wells more than doubled from the 1,686 HAMPs reported for the prior month. Since the start of the program, Wells has completed 74,434 HAMPs.
Bank of America, N.A.’s, 3,049 completed HAMPs ranked it second. The bank’s prior month activity was higher at 6,484. More permanent HAMPs have been completed by BofA than any other servicer:Â 93,292.
J.P. Morgan Chase Bank, N.A., followed with 2,977 permanent modifications in January, then Nationstar Mortgage LLC’s 2,403 and American Home Mortgage Servicing Inc.’s 747.
