Through the end of May, Wells Fargo said it had 771,757 mortgage modifications completed or in the process of getting finalized.
Of this total amount, about 84% (648,709 modifications), have been handled through the San Francisco-based bank’s own programs.
Meanwhile, 123,048 were conducted through the federal government’s Home Affordable Modification Program.
The May total is approximately 11,000 more modifications that were handled by the financial institution through the end of the previous month.
As of the first quarter of 2012, more than 93% of Wells Fargo’s home loan customers remained current on their mortgage payments. The bank said fewer than 2% of the loans on owner-occupied properties in Wells Fargo’s mortgage servicing portfolio have resulted in a foreclosure sale over the past 12 months.
In addition, Wells Fargo has provided customers nearly 6.2 million new low-rate loans to purchase homes or to refinance existing mortgages between January 2009 and May 2012.
