Citigroup’s (NYSE: C) numbers under the Making Home Affordable loan modification program through December of 2009, showing an increased number of temporary modifications, but still relatively few permanent loan modifications.
Previously, the number of permanent home loan modifications that Citigroup made under the Making Home Affordable Program showed that Citigroup’s CitiMortgage had made just 271 modifications for permanent homeowners. The newly released data indicates that Citigroup has made 4,999 permanent home loan modifications under the Making Home Affordable home loan modification program, which is an improvement, but Citigroup has a long way to go..
Citigroup had 100,126 active trial modifications in place in November of 2009 and increased that number to 107,999 in December of 2009. The company has done a relatively good job of getting homeowners into trial modifications, but like many other banks in the Making Home Affordable Program, has failed to turn any significant percentage of those modifications into permanent modifications.
The number of homeowners that qualify for the program increased slightly during the month of December. 241,981 homeowners that have CitiMortgage loans now qualify for the Making Home Affordable Program, which is an increase of about 4% from November’s data.
