Proprietary loan modifications, the dominant form of loss mitigation, have declined significantly in the past year, while activity in the Home Affordable Modification Program has remained relatively level, according to the Hope Now alliance. Some 137,879 loan mods were completed in the fourth quarter of 2013, down 24.0 percent from the previous quarter and a 44.0 percent decline from the fourth quarter of 2012. Eric Selk, executive director of Hope Now, said the decline in mods “closely tracks” with ...