HAMP: Permanent loan mods up 45%

Borrowers see median monthly savings of about $519

Permanent loan modifications increased by 45 percent in February, according to a report of the Obama Administration’s Home Affordable Modification Program (HAMP).

The U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) said lenders had granted more than 170,000 permanent loan mods since the program began in May 2009 and servicers had approved 91,800 more that were awaiting borrower acceptance.