Chase modifies 138,000 mortgages - Boston Business Journal:

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The figure includes 87,100 modifications throughj the Making Home Affordablwe program andanother 50,900 through its own mortgage-modification program. Of thosde modifications, 44,100 borrowers have made their first paymeny under the Making Home Affordable programand 9,500o have made their first paymeng under the Chase modification program, New York City-basecd Chase said in a news release. Underf the federally backed Making HomeAffordable program, strugglin homeowners can reduce mortgage payments for principal, interest, property taxee and hazard insurance to 31 perceny of their gross usually by reducing the interest rate or extendingf the length of the loan.
Chase’s modificatiobn plan is a similar plan used for homeownerd who do not qualify for the Makinv HomeAffordable program, the bank said in a news “We have made terrific progress since April 6 in helpinv families with trial modifications by rampinyg up our capacity through hiring people, adding office space and investing in technology, said Charlie Scharf, director of retail financial servicesd at (NYSE: JPM) “We also clearl y understand that many more families are anxiousd about their homes and need to hear from us as quickly as possible.
We are committed to do whateve r is necessary to help homeowners who qualify for these Inthe release, Chase said it has met demandx for serving customers by hirinh 950 loan counselors in its U.S. operations, bringing its total to 3,500. It plans to add hundreds more in thecomingf weeks. It also has hired 2,000 mortgag e operations employees and opened 27 Chase HomeownershipCenters nationwide. More than 20,0090 homeowners have met with borrowers atthe centers, the releasw said.