The monthly gain in permanent modifications for the government loan modification program fell by more than half in the latest report.
Active permanent modifications processed through the Home Affordable Modification Program finished September at 909,220, according to data released by the Obama administration.
That put the month’s total at 3,557 more than in August. The latest gain paled compared to the previous month, when active permanent HAMP modifications increased by 12,766 from July.
But September’s increase was bigger than in the same month during 2012, when active permanent HAMP modifications increased by just 2,974.
With 160,409 active permanent HAMP modifications in place, Ocwen Loan Servicing LLC had more than any other servicer. In addition, Ocwen’s gain from August of 5,788 was bigger than at any other servicer.
Helping to grow Ocwen’s activity was the transfer of mortgage servicing rights on around $30 billion in loans from OneWest Bank during the third quarter.
Nationstar Mortgage LLC closed out September with 87,467 active permanent modifications, 2,836 more than in August. Nationstar’s growth was helped along by its third-quarter acquisition of MSRs on $62 billion in loans from Bank of America, N.A.
A gain of 2,061 during September at Wells Fargo Bank, N.A., left its portfolio of active permanent HAMPs at 135,690.
At 52,864, CitiMortgage Inc. had 465 more permanent modifications in place than at the end of August.
Select Portfolio Servicing Inc. had a gain of 353 active permanent modifications, pushing its total to 30,129.
OneWest’s book of active permanent HAMPs ended September at 21,743, up by 317 from the prior month.
JPMorgan Chase Bank, N.A., had a loss of 3,777, leaving its HAMP portfolio at 145,440.
BofA closed out September with 76,886 HAMPs, 5,626 fewer than as of the previous report.
