Nov. 10 (Bloomberg) — Morgan Stanley, Citigroup Inc. and JPMorgan Chase & Co. lead the pack of U.S. banks modifying home loans to troubled borrowers under the Obama administration’s main foreclosure prevention plan, the Treasury Department said.
Citigroup, the third-largest U.S. bank by assets, began 88,968 trial modifications, or 40 percent of its eligible mortgages, under the Making Home Affordable Program this year, Treasury data through October shows. JPMorgan, the second- largest U.S. bank, has started 133,988 modifications, or 32 percent of eligibility, the Treasury said in a statement today.
Read more : Bloomberg
