BofA says thousands of mortgages were modified under HAMP

05/14/2010 | Reuters · Wall Street Journal, The

Bank of America said that so far this year it has modified about 56,000 mortgages -- 24,000 in April alone -- through the government's Home Affordable Modification Program. "We continue to evaluate homeowners' eligibility and activate trial modifications while focusing on completing as many permanent modifications as possible for those who have successfully completed their trial payment period," said Jack Schakett, an executive at Bank of America Home Loans. Brian Moynihan, CEO at Bank of America, said curbing foreclosures is one of the company's main challenges.

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