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

Analysis and Data

Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

The September jobs report gave the mortgage market something it hasn't had much of lately: downward pressure on Treasury yields.U.S. employers added just 29,000 jobs in September, while the unemployment rate edged up to 4.2%, according to the Bureau of Labor Statistics. The ...

Wholesale

The Loan Store Rebrands As Averra Financial

The wholesale lender is adopting a new identity three years after acquiring Homepoint’s wholesale business and rising to No. 4 in industry rankings

The Loan Store has a new name after a three-year expansion that transformed the once-small wholesale lender into one of the largest players in the broker channel.The Tucson, Arizona-based lender has rebranded as Averra Financial Inc., effective immediately, the company annou...

Oct

Denver, CO

More from

Industry News

Garg Claims Majority In Better Fight, Board Poised To Honor Vote

Founder says he secured more than 51% of voting power to remove five directors, pending confirmation by a third-party inspector

C-Suite Strategies

Oct 01, 2026

Rocket Makes VantageScore Its Default After Testing Finds Borrower Savings

After four months of testing, Rocket will make VantageScore 4.0 its preferred model for eligible retail loans while keeping both scoring options available to brokers

Industry News

Sep 29, 2026

CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News

Sep 23, 2026

Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News

Sep 23, 2026

Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies

Sep 23, 2026