Fewer home loans were modified on a monthly basis, and the weaker activity hit both government and proprietary programs.
For the entire month of November 2015, there were 26,312 residential loans which were modified by mortgage servicers.
The total includes proprietary loan modifications and mortgages modified through the Home Affordable Modification Program.
The findings were reported by HOPE NOW,
a voluntary private-sector alliance of servicers, investors, mortgage insurers and non-profit counselors.
Modification volume slipped from the previous month, when 29,910 mortgages were modified.
Activity also descended from the same month in 2014, when 33,572 loan modifications were previously reported.
Proprietary modifications made up the bulk of November 2015’s activity, coming in at 18,621.
But proprietary volume slid from October, when the total was 22,130.
It was also way off November 2014, when
a previously reported 22,569 home loans were modified through proprietary programs.
HAMP modifications slipped to 7,691 in November 2015 from 7,780 a month earlier.
A year earlier, HAMP volume was previously reported at 11,003.
