Wells Fargo Continues Accelerated Use Of HAMP Modifications

Wells Fargo & Co. said it has executed 93,533 trial and completed Home Affordable Modifications Program (HAMP) modifications through Oct. 31. Using its own programs, Wells Fargo has done an additional 309,511 trial and completed home loan modifications this year.

This brings the total number of modifications Wells Fargo has done this year to 403,044 – a 14% increase over the total number of modifications reported through last month. The company did approximately the same number of HAMP modifications in October as it did in September.

In addition, Wells Fargo has refinanced nearly 1.1 million mortgage loans.

SOURCE: Wells Fargo

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