HAFA Short Sale Program Gains Steam with Completed Transactions up 55% in June

Servicers completed 2,213 pre-foreclosure short sales and deeds-in-lieu (DIL) under the government’s Home Affordable Foreclosure Alternatives (HAFA) program during the month of June.

The number of completed HAFA transactions climbed 55 percent compared to the 1,428 transactions completed in May. Earlier this year, between the months of March and April, HAFA deals jumped 70 percent.

Servicers started 3,631 new HAFA transactions during the month of June, which means an agreement has been extended to the homeowner for terms of a potential short sale or DIL.

JPMorgan Chase has completed the most HAFA transactions among participating servicers with 3,596, but Wells Fargo is not far behind with 3,123.

Bank of America has finalized 1,873 HAFA agreements, Select Portfolio Servicing has completed 591, Litton Loan Servicing has finalized 483, and the tally for all other participating servicers comes to 1,088.