By Paul Kiel, ProPublica.
style="width: 300px;" />The administration’s $75 billion mortgage modification program is meant to help 3 million to 4 million homeowners avoid foreclosures. The latest data, out Tuesday, shows mortgage servicers are making some progress toward this goal, but big questions remain about how effective the program will be.
Here’s our breakdown
for the largest servicers. Among the four largest, Bank of America still lags far behind. According to the government’s data, BofA’s mortgage subsidiaries have started a total of just 137,000 trial loan modifications, about 14 percent of its pool of eligible loans.
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Paul Kiel is a reporter for ProPublica, America's largest investigative newsroom.