Industry NewsMortgage

Growth in HAMP program cools

Borrowers continue to transition from trial to permanent loan mods
Published on Jul 20, 2010

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by CareyBot

The number of trial loan modifications offered by loan servicers participating in the Obama administration's Home Affordable Modification Program appears to be reaching a plateau, although the number of borrowers moving into permanent modifications continues to show steady growth.

The latest HAMP report from the Treasury Department showed 38,728 borrowers starting trial loan modifications in June, compared with 110,000 during the same month a year ago.