In the past two years, Wells Fargo (WFC: 24.23 -3.96%) offered more than 4.4 million homeowners new low-rate loans and did more than 704,000 loan modifications for mortgages in its servicing portfolio, the bank said this week.
About 85% of its loan modifications were completed through Wells Fargo programs, while 105,404 modifications were handled through the government's Home Affordable Modification Program.
As of the second quarter, 93% of home loans in the company's servicing portfolio were current on payments. Fewer than 2% of owner-occupied loans in the servicing portfolio proceeded to foreclosure sale in the past year.
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