The home mortgage loan modification process has been very difficult for both lenders and borrowers.  One company that has seen relative success is GMAC mortgage.  From the data that has been received, GMAC mortgage has 35% of the qualifying home loans in a trial modification period.  The issue at hand is the fact that most of these loans that are in trial modifications have not received the proper documentation to become a permanent loan modification.

Saxon Mortgage Services leads all mortgage lenders with 44% of qualifying loans in trial modifications; CitiMortgage is second with 40%.  GMAC Mortgage comes in third with 35% but is well ahead of Bank of America which has only gotten 14% of qualifying loans in the trial modification period.  The government continues to urge lenders to help borrowers as much as possible but borrowers have to follow up with the proper paperwork before the modification can get out of the trial period.

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