Bank of America Corp. said it has seen "significant gains" in the number of modified mortgages through the government's Home Affordable Modification Program.

The giant bank said more than 12,700 of its customers now had a permanent Home Affordable modification, quadruple the number of modifications that had been completed a month earlier. B of A said another 13,700 permanent modifications are pending, which means final loan terms have been approved and are waiting for customers' signatures.

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