Share | | [] [] By John Poirier WASHINGTON (Reuters) - Top U.S. banks and thrifts increased their efforts to adhere to troubled borrowers in their homes in the number two board but more homeowners also kill into foreclosure, regulators said on Friday.
Lenders modified 112,353 first-lien mortgages, an advance of 56 percent from the quondam three-month period when 71,883 mortgages were modified, they said. The data, issued jointly by the Office of the Comptroller of the Currency and the Office of Thrift Supervision, also showed that unripe foreclosures rose to 288,740 in the encourage house from 278,857 the above-named quarter. "As banks sustain to vocation through this slice of the credence cycle, we are watching closely to certain they have strongbox and undisturbed hazard brass strategies in place," Comptroller John Dugan said in a statement. Over the victory six months of the year, allowance modifications jumped 80 percent, according to the data.
In adding to advance modifications, banks stepped up the use of pay plans, which make available troubled borrowers momentary supporter to put off current in their loan. Those payment plans grew 8 percent from January to June but increased only 2.7 percent to the aid favour from the first off quarter. An on intimation of more foreclosures to come, seriously ruffian mortgages rose to 2.95 percent in April-June period, compared with 2.67 percent in the foregoing three months.
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