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Wells Fargo: 9k Active Trial/Loan Modifications in June
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Wells Fargo: 9k Active Trial/Loan Modifications in June
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
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Receive Multiple Offers. Save Money.
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Wells Fargo: 9k Active Trial/Loan Modifications in June
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August 13, 2012 (Jeff Alan)

Wells Fargo reports that 9,342 active trial or completed loan modifications were started in June bringing the total amount of trial and completed modifications to 781,099 since its mortgage relief efforts began in April 2009.

About 80 percent of those loans, 7,486, were modified through the company’s own loan modification programs while the remaining 20 percent, 1,856, were modified through the federal government’s Home Affordable Modification Program (HAMP).

Since Wells Fargo’s mortgage relief efforts began in May 2009, about 84 percent of their total active trial and completed loan modifications, 656,195, have been modified through the company’s own loan modification programs while the remaining 16 percent, 124,904, were modified through HAMP.

Over ninety-three percent of Wells Fargo’s loan customers remained current on their home loans through the second quarter of 2012 and less than two percent of the owner-occupied loans in their mortgage servicing portfolio have resulted in a foreclosure sale over the last year.

According to the latest information released in the Obama Administration’s July Housing Scorecard, out of the top 10 mortgage servicers in the United States, only J.P. Morgan Chase and Bank of America had exceeded Wells Fargo in the number of active HAMP trial modifications through the end May. Wells Fargo also had the highest conversion rate with 90 percent of its eligible HAMP trial modifications converting to permanent modifications since June 1, 2010

J.P. Morgan Chase had almost fifteen thousand active trial or completed HAMP modifications in May (latest data available) while Bank of America had just over thirteen thousand.

Since the government’s mortgage relief efforts began in 2009 through the end of May, among the top ten mortgage servicers in the country, the number of active permanent loan modifications completed by Wells Fargo under HAMP has only been surpassed by Bank of America (184,000) and J.P. Morgan Chase (165,000), all three of which make up almost half of all permanent HAMP loan modifications.

Tags: Wells Fargo, trial modification, completed modifications, loan modifications, HAMP, borrowers, Housing Scorecard

Source:
Wells Fargo

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August 13, 2012 (Jeff Alan)

Wells Fargo reports that 9,342 active trial or completed loan modifications were started in June bringing the total amount of trial and completed modifications to 781,099 since its mortgage relief efforts began in April 2009.

About 80 percent of those loans, 7,486, were modified through the company’s own loan modification programs while the remaining 20 percent, 1,856, were modified through the federal government’s Home Affordable Modification Program (HAMP).

Since Wells Fargo’s mortgage relief efforts began in May 2009, about 84 percent of their total active trial and completed loan modifications, 656,195, have been modified through the company’s own loan modification programs while the remaining 16 percent, 124,904, were modified through HAMP.

Over ninety-three percent of Wells Fargo’s loan customers remained current on their home loans through the second quarter of 2012 and less than two percent of the owner-occupied loans in their mortgage servicing portfolio have resulted in a foreclosure sale over the last year.

According to the latest information released in the Obama Administration’s July Housing Scorecard, out of the top 10 mortgage servicers in the United States, only J.P. Morgan Chase and Bank of America had exceeded Wells Fargo in the number of active HAMP trial modifications through the end May. Wells Fargo also had the highest conversion rate with 90 percent of its eligible HAMP trial modifications converting to permanent modifications since June 1, 2010

J.P. Morgan Chase had almost fifteen thousand active trial or completed HAMP modifications in May (latest data available) while Bank of America had just over thirteen thousand.

Since the government’s mortgage relief efforts began in 2009 through the end of May, among the top ten mortgage servicers in the country, the number of active permanent loan modifications completed by Wells Fargo under HAMP has only been surpassed by Bank of America (184,000) and J.P. Morgan Chase (165,000), all three of which make up almost half of all permanent HAMP loan modifications.

Tags: Wells Fargo, trial modification, completed modifications, loan modifications, HAMP, borrowers, Housing Scorecard

Source:
Wells Fargo

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
LOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

August 13, 2012 (Jeff Alan)

Wells Fargo reports that 9,342 active trial or completed loan modifications were started in June bringing the total amount of trial and completed modifications to 781,099 since its mortgage relief efforts began in April 2009.

About 80 percent of those loans, 7,486, were modified through the company’s own loan modification programs while the remaining 20 percent, 1,856, were modified through the federal government’s Home Affordable Modification Program (HAMP).

Since Wells Fargo’s mortgage relief efforts began in May 2009, about 84 percent of their total active trial and completed loan modifications, 656,195, have been modified through the company’s own loan modification programs while the remaining 16 percent, 124,904, were modified through HAMP.

Over ninety-three percent of Wells Fargo’s loan customers remained current on their home loans through the second quarter of 2012 and less than two percent of the owner-occupied loans in their mortgage servicing portfolio have resulted in a foreclosure sale over the last year.

According to the latest information released in the Obama Administration’s July Housing Scorecard, out of the top 10 mortgage servicers in the United States, only J.P. Morgan Chase and Bank of America had exceeded Wells Fargo in the number of active HAMP trial modifications through the end May. Wells Fargo also had the highest conversion rate with 90 percent of its eligible HAMP trial modifications converting to permanent modifications since June 1, 2010

J.P. Morgan Chase had almost fifteen thousand active trial or completed HAMP modifications in May (latest data available) while Bank of America had just over thirteen thousand.

Since the government’s mortgage relief efforts began in 2009 through the end of May, among the top ten mortgage servicers in the country, the number of active permanent loan modifications completed by Wells Fargo under HAMP has only been surpassed by Bank of America (184,000) and J.P. Morgan Chase (165,000), all three of which make up almost half of all permanent HAMP loan modifications.

Tags: Wells Fargo, trial modification, completed modifications, loan modifications, HAMP, borrowers, Housing Scorecard

Source:
Wells Fargo

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
LOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.