The monthly volume of loan modifications that were completed edged up, though not much. The gain might have been stronger if it weren’t for drop in government-supported activity.
U.S mortgage servicers completed 38,489 loan modifications during June.
The total included mortgage firms’ own proprietary program activity and loan modifications completed through the Home Affordable Modification Program.
Modification volume moved up from the previous month, when 36,368 modifications were completed but sank compared to the same month last year, when 61,366 mortgages were modified.
The data was reported Thursday by HOPE NOW. The Washington-based organization said it extrapolated the statistics from a survey of 61.5 percent of the industry.
HAMP modifications accounted for 10,813 of the latest total, declining from 11,774 in May.
HAMP volume has tumbled from 17,323 in June 2013.
HAMP modifications completed since the 2009 debut of the program amounted to1,387,321.
But proprietary loan modifications moved higher, climbing to 27,676 in June from 24,594 a month earlier.
Still, proprietary volume has plunged from the 44,043 modifications completed a year earlier.
