Month-over-month loan modification volume was off ever so slightly, as was the case based on a year-over-year comparison.
Servicers of the nation’s residential loans and their service providers managed to complete 33,168 loan modifications during the month of July.
The number of modifications on mortgages slipped from the previous month, when 34,437 loan modifications were completed.
Modification volume also dipped from the same month last year, a month that saw 35,402 mortgages modified.
HOPE NOW reported the statistics Monday.
Loans that were modified through lenders’ own proprietary programs numbered 23,434 during the most-recent month.
Proprietary activity inched down from 24,696 in June 2015
and were also lower than 25,225 in July 2014.
It was a similarly sized dip for home loans modified through the Home Affordable Modification Program, with volume drifting down to 9,734 during July from 9,741 a month earlier.
But HAMP activity was down more sharply from a year earlier, when 10,177 residential loans were modified through the program.
Program-to-date HAMP production stands at
1,523,029.
