citimortgage: Bank Of America Leads the Pack on Modifications
- 04/19/10 04:33 AM
In the midst of negative criticism, the HAMP (Home Affordable Modification Program) approved 230,801 permanent Loan Modifications to date saving on average $500 per month per Home Owner. Although market observers still note that this pace is too slow to make a significant difference, most Americans feeling the pinch wouldn't sneeze at $500 less out of their pocket at the end of the month. Leading the pack of servicers on it are is GMAC, converting 48% or 17,102 of their trial modifications to permanent. Next is CitiMortgage with 47% or 22,455. But when you look at sheer numbers Bank Of America … (1 comments)
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In the midst of negative criticism, the HAMP (Home Affordable Modification Program) approved 230,801 permanent Loan Modifications to date saving on average $500 per month per Home Owner. Although market observers still note that this pace is too slow to make a significant difference, most Americans feeling the pinch wouldn't sneeze at $500 less out of their pocket at the end of the month.
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