March 2010 HAMP Report—Saxon Mortgage Makes 8,721 Permanent Home Loan Modifications To Date

Saxon Mortgage saw an increase in their Making Home Affordable Program home loan modification numbers as they have made 8,721 permanent home loan modifications as of March 2010.

The number of permanent home loan modifications for Saxon in March was up from previous months, as Saxon saw 7,364 permanent home loan modifications in February and 5,312 permanent home loan modifications in January.  Saxon was one of the top lenders in the modification program but outside of permanent home loan modifications have seen some of their numbers drop.

Saxon mortgage, as of the March report, had made either a permanent or trial home loan modification for 36% of homeowners that potentially qualify.  However, that number is down from 41% as of the February report and 48% as of the January.  This drop in percentage may be attributed to the drop of trial modifications that are currently ongoing from Saxon Mortgage.

While home loan modifications are still available, homeowners are now facing troubles with underwater mortgages and unemployment, which are both causing difficulties in the housing market.