Select Portfolio Leads Increase in HAMP Activity

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MORTGAGE EXPERT
3 · 07 · 14

Government-funded loan modifications grew at the fastest pace in three months, and the biggest gain was made by Select Portfolio Servicing Inc.

The Obama administration reported that 933,900 active permanent modifications completed through the Home Affordable Modification Program were in place as of Jan. 31.

The total increased by 7,108 from the previous month, according to the report. Growth expanded from December 2013, when active HAMPs rose by 4,725.

The most recent gain was also better than in January 2013, when active HAMPs increased by 5,019.

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The biggest gain in January came from Select Portfolio which increased by 4,415 to 36,399 active permanent modifications.

Ocwen Loan Servicing LLC followed with an increase of 2,207 to 184,222 active HAMPs.

After that was Nationstar Mortgage LLC, where active permanent modifications rose by 2,030 to 91,910.

The fourth-biggest gainer was Wells Fargo Bank, N.A., which grew its active HAMPs by 956 to 139,637.

No. 5 CitiMortgage Inc. increased by 361 to 49,739.

Bank of America, N.A., saw active permanent HAMPs decline by 3,009 to 72,537, while JPMorgan Chase Bank, N.A., fell 2,550 to 143,152.

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Mortgage Daily Staff

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