Citigroup CitiMortgage Makes 22,455 Permanent Home Loan Modifications As Of March 2010

The monthly report from the Obama Making Home Affordable home loan modification program has stated that Citigroup CitiMortgage has made 22,455 permanent home loan modifications as of March 2010.  This number is up from last month’s, which was 15,607 permanent home loan modifications.

Citigroup CitiMortgage has been one of the top lenders in the home loan modification program for a few months as they have made either a permanent or trial modification for 47% of the potential homeowners who qualify for a home loan modification.  This number fell from last month’s percentage, which was at 52%.

In January 2010, Citigroup had only made 10,929 permanent home loan modifications so they have seen a big jump in their numbers in the early part of this year.  Citigroup still remains the second highest lender in the home loan modification program in terms of homeowners helped compared to the total number that potentially qualifies.

Citigroup and other lenders have also been asked to start making principal reductions and forbearance plans available to homeowners that are struggling with underwater mortgages and unemployment.

Source