Servicers complete 768,000 loan mods in 2013

by Adam Smith17 Feb 2014
Mortgage servicers delivered loan modifications to around 768,000 homeowners last year, new data indicates.

Year ending data from HOPE NOW, the private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors, has released its final loan modification data for 2013, showing that the year saw around 768,000 homeowners receive permanent loan modifications from mortgage servicers.

The modifications included 592,843 proprietary modifications and 175,076 HAMP modifications. HOPE NOw said the mortgage industry has completed 6.84 million modifications since 2007.


  • by Wm Matz | 2/17/2014 2:31:58 PM

    Especially given that most of the mods are proprietary, these numbers give no clue as to the level of relief provided borrowers. Some borrowers are offered "mods" that lower payments by only $50 or in some cases even raise them.


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