Bank of America Corp. added nearly 8,000 customers to the ranks of borrowers modifying mortgages under the government's Home Affordable Modification Program in the latest month.
The Charlotte company said Friday that 20,666 of its customers had a permanent Hamp modification as of the latest monthly report, up from 12,761 a month earlier.
B of A said 22,303 permanent modifications are pending, which means final loan terms have been approved and are awaiting customers' signatures.
"We are in a position to show strong results in completion of permanent Hamp modifications as we move into spring," said Jack Schakett, a loss mitigation strategies executive at B of A. "We have a strong pipeline of modifications in the trial payment period, under review for conversion to permanent status and out for final signature."
