who is to blame for the mortgage crisisJust how bad is it? Through November, an embarrassing 4% of trial modifications — a multimonth let’s-see-if-you’re-really-worthy test — were made permanent. That’s pitiful.

More frustrating, the biggest banks are moving at a pace that’s comically close to zero:

Bank  Percentage of Trial Modifications Made Permanent
Bank of America (NYSE: BAC)
JPMorgan Chase (NYSE: JPM)
Wells Fargo (NYSE: WFC)
Citigroup (NYSE: C)
USBancorp (NYSE: USB)
PNC Financial (NYSE: PNC)

Sources: www.financialstability.gov , Motley Fool

Moe Bedard
My name is Maurice "Moe" Bedard. I am the founder of America's #1 Mortgage Forum, LoanSafe.org. My online work has been featured in the New York Times, LA Times, Fox Business, and many other media publications.