Bank of America has more mortgages eligible for the HAMP program than any other loan servicer, however, they are lagging behind the industry average in actually modifying borrowers loans.  (nearly 10% behind the industry average)

Bank of America looks at these numbers a tad differently.  They choose to focus on the total volume of loan mods processed. In this situation, it is in fact true B of A has made more loan mods than any other servicer. ( but again, they have hundreds of thousands of more applications than any other servicer)

If you take the next 3 largest HAMP loan servicers and add together the # of delinquent loans on their books, they equal just about the total # of Bank Of America.  However, these next 3 servicers have processed more than double the # of loan mods processed by Bank of America. (Chase, Wells Fargo, Citi)

Tags: Loan Mods

This entry was posted on Friday, December 11th, 2009 at 4:54 pm and is filed under Lending. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.