BofA defends HAMP performance

Lender says it's keeping up with industry on loan mods

Bank of America is picking up the pace of loan modifications under the Home Affordable Modification Program (HAMP) and isn’t lagging as far behind the industry as the latest numbers from the Treasury Department suggest, the company said today.

At the end of last month, Bank of America had made trial or permanent modifications on 14 percent of the estimated 1 million HAMP-eligible loans it’s servicing that were delinquent by 60 days or more, the Treasury Department said in a report last week.