LevonP
12-13-2009, 01:08 PM
Wells Fargo & Co. said Thursday it continues to expand the use of a federal program designed to help modify mortgages to avoid foreclosure.
The Home Affordable Modification Program and its own programs have helped adjust more than 422,000 mortgages since the beginning of the year, the Des Moines, Iowa, company said.
Of that total, 99,674 were federal HAMP program modifications. The company said it completed three loan modifications for every one foreclosure in November.
About 92 percent of the company's mortgage customers stayed current on their mortgage payments, said Mike Heid, co-president of Wells Fargo Home Mortgage, in a statement.
The Home Affordable Modification Program and its own programs have helped adjust more than 422,000 mortgages since the beginning of the year, the Des Moines, Iowa, company said.
Of that total, 99,674 were federal HAMP program modifications. The company said it completed three loan modifications for every one foreclosure in November.
About 92 percent of the company's mortgage customers stayed current on their mortgage payments, said Mike Heid, co-president of Wells Fargo Home Mortgage, in a statement.