Wells Fargo (WFC) completed 749,806 active and completed mortgage modifications through March, up from 740,359 in late February, the bank said Monday.
Those numbers include all active and completed modifications reported at the bank for the time period stretching from January 2009 through March 2012.
Of those mods completed through March, approximately 84%, or 630,981, were handled through the company’s internal modification programs, while 118,825 were completed through the government’s Home Affordable Modification Program.
By the end of the first quarter, more than 93% of Wells Fargo’s home loan customers were current on their mortgage payments. In the past year, fewer than 2% of the loans in the bank’s owner-occupied residences in the mortgage servicing portfolio were put through a foreclosure.
Wells Fargo claims it aided nearly six million customers secure low-rate loans for home acquisitions and refinancings through the period stretching from January 2009 through April 2012.
kpanchuk@housingwire.com
