HOPE NOW: 30K Loan Mods in February

Apr 19, 2017

There were 30,000 permanent loan modifications completed in February, up from 29,000 in January, according to new data from HOPE NOW. Within the total number of modifications, an estimated 20,000 were through proprietary programs and 9,445 were completed via HAMP.

During February, there were approximately 3,500 completed short sales, down from 3,700 in January, and approximately 1,100 completed deeds in-lieu, compared to 1,200 in January. February also saw the number of foreclosure starts fall to approximately 49,000 from 55,000 in January and the number of foreclosure sales fall to approximately 22,000 from 26,000 in January. There were also approximately 1.33 million serious delinquencies in February, compared to 1.46 million in January.

“Non-foreclosure solutions outpaced foreclosure sales by more than a four-to-one margin in the month of February,” said HOPE NOW Executive Director Erik Selk. “This has remained a steady trend for the past year and illustrates the availability of various long and short term solutions that benefit homeowners. Foreclosure starts and sales continue to decline towards pre-crisis levels while solutions and permanent modifications remain stable.”

About the author

Phil Hall

Link copied

Published

Apr 19, 2017

Industry News

UWM, UMortgage Under Attack For Alleged Shell Scheme

A report released on April 25 by the hedge-funded media company alleges UWM set up a shell company, UMortgage.

Just weeks after allegations against United Wholesale Mortgage (UWM) were published in an exposé-style report and a class action lawsuit, Hunterbrook Media is once again putting the Michigan lender under the spotlight. On Thursday, the hedge-funded media company published...

Analysis and Data

Homebuying Excitement Is Up Among Veterans

Survey results indicate optimism about housing market among U.S. veterans and service members

Our nation’s heroes are increasingly optimistic about buying homes, new research indicates. The amount of veterans and service members who plan to purchase a home in the next six months was up by 15 percentage points year-over-year, according to the Veterans Homebuying Re...