A new report from the government’s Financial Stability.gov website has released new loan modification numbers for JP Morgan Chase (NYSE: JPM) for the government’s Making Home Affordable Plan.
The newly released data represents the firm’s data since April 13th, 2009. Out of 448,815 homeowners that qualify for a loan mortgage modification that have loans with JP Morgan Chase & Co, there were 143,027 trial home loan modifications that began under the government’s Making Home Affordable Program.
Currently the bank has 136,686 active trials and 4,302 permanent home loan modifications in place.
According to the report, JP Morgan Chase is currently offering a relatively high number of permanent loan modifications to homeowners compared to other banks, but the government is hoping for more. Between all of the large-cap banks, just 31,382 loans have been modified permanently.
Recently the federal government began pressuring banks participating in the Making Home Affordable Program (HAMP) by offering banks up to $1,500 each for allowing a permanent modification to take place.
