Treasury posts data on mortgage modifications
The Treasury Department announced that it had reached “a new milestone of more than 500,000 trial loan modifications in progress under the Making Home Affordable program.” The October 8 announcement included a report (pdf, 103kb) on mortgage lender performance data through September 30.
The figures provided a breakdown by lender of the percentage of potentially eligible delinquent borrowers who had been given a loan modification. Figures for lenders with more than 70,000 potentially eligible borrowers:
Saxon Mortgage Services 41%
CitiMortgage 33%
Aurora Loan Services 33%
JP Morgan Chase 27%
GMAC Mortgage 26%
Wells Fargo 20%
Bank of America 11%
OneWest Bank 5%
Wachovia Mortgage 3%
Litton Loan Servicing 2%
American Home Mortgage Servicing < 1%
Background on the Making Home Affordable program, including monthly lender data from July and August, is available on the Treasury Department website.