An acceleration in the monthly number of proprietary loan modifications completed more than offset waning government-funded activity.
Residential loan servicers completed loan modifications on 43,084 U.S. mortgages during the month of March. The total includes both government and proprietary activity.
Loan modification volume accelerated from the previous month, when 37,520 home loans were modified. The February total was originally reported at just 33,832.
In the same month last year,
45,321 mortgages were modified.
HOPE NOW reported the loan modification data.
March 2015 activity included 8,262 loan modifications completed through the Home Affordable Modification Program.
HAMP volume dropped from 10,074 in February
and 13,179 in March 2014.
Another 34,822 proprietary loan modifications were completed in March 2015.
Proprietary volume jumped from the previous month’s 27,446. It was also up from the 32,142 modifications completed a year earlier.
