The country's largest mortgage servicers stepped up their loss mitigation efforts in the second quarter, federal regulators said Friday.

With foreclosures continuing to rise, the proportion of borrowers in loss mitigation increased from 76% in the first quarter to 87% in the second, according to the data collected by the Office of Thrift Supervision and the Office of the Comptroller of the Currency. The regulators reported on 14 of the country's largest banks and thrifts, which hold or service about 60% of all primary mortgages — at a total value of $1.6 trillion.

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