Loan modifications completed by mortgage servicers dropped 19.7% in the first quarter compared with the preceding three-month period, according to Hope Now. Despite the decrease to nearly 210,000, the figure is still two-and-one-half times greater than the estimated 80,000 workouts completed under the Department of the Treasury’s Home Affordable Modification Program in the first quarter. Counting private and HAMP modifications, total workouts in March grew by 26% compared with the previous month, Hope Now reports.

Click here to read the story from Housing Wire.