The number of active loan modifications completed through the Home Affordable Modification Program increased more at Select Portfolio Servicing during September than at any other HAMPÂ servicer. Government and proprietary loan modification volume for all mortgage servicers has recently slowed.
As of Sept. 30, there were 834,635 active permanent modifications that were completed through HAMP, according to data released by the Obama administration. The total was 831,661 as of Aug. 31.
September’s 2,974 gain was weaker than the prior month, when active permanent modifications expanded by 6,183. It was also much slower than September 2011, when active modifications increased by 29,643.
A separate report from HOPEÂ NOW indicated that 16,509 HAMPs were completed in August, a few less than 16,767 in July.
HOPEÂ NOW also reported that mortgage servicers completed 60,595 proprietary loan modifications in September, more than 59,459 completed the prior month.
During the first nine months of 2012, proprietary modifications totaled 460,881.
Select Portfolio had 25,007 active permanent HAMPs at the end of September. That was an increase of 5,453 over August — more than any other company.
On the other side of that transaction was Bank of America, N.A., where the number of active HAMPs was down by 6,491 in September.
The second-best producer in September was Wells Fargo Bank, N.A., where active HAMPs increased by 1,177 to 117,671.
No. 3 was JPMorgan Chase Bank, N.A., which increased active HAMPs by 1,024, then OneWest Bank’s 452 increase and Ocwen Loan Servicing LLC’s gain of 317.
