BofA modifies 22K mortgages in Nov.

CHARLOTTE, N.C. – Bank of America Corp. said it completed nearly 22,000 mortgage modifications in November, with half of those completed through the federal government’s Home Affordable Modification Program.
The nation’s largest bank has completed more than 746,000 modifications from January 2008 through November 2010, including about 250,000 in 2010 alone.
“Bank of America continues to lead the national initiative to help struggling homeowners stay in their homes and avoid foreclosures,” said Rebecca Mairone, default executive for Bank of America Home Loans. “The extended period of economic stress presents unprecedented challenges, but we are determined to continue to meet the challenges through process improvements and expanded staffing.”
Bank of America – as well as other institutions – has been under fire recently for alleged mistakes made in filing foreclosure documentation in numerous states.
Still, the modification programs roll on. Bank of America has completed more than 652,000 modifications through proprietary, nongovernment-sponsored programs, including nearly 16,000 in November, it said.
Since the inception of the government’s Home Affordable Modification Program last year, Bank of America has recorded 93,500 permanent modifications, which leads the country. Nearly 6,000 Bank of America customers moved from trial to permanent modifications last month, more than in any month since June.