Data shows Nationstar Approves Loan Modifications at Much Lower Rate than Big Banks

``During the month of May, which is the most recent data available from the Treasury Department, Nationstar Mortgage's servicing operations approved 601 loan modification requests... and denied 4,216. That's a 12.5 percent approval rate for the month of May. Cumulatively, based on program-to-date data through the month of May, Nationstar only approved 22 percent of the loan modification applications it has received from borrowers. I don't care which number you choose, as an approval percentage, either one is just beyond awful... perhaps even unbelievably so. Why do I say that? Well, because through May of this year... AT BEST... that's LESS THAN HALF the percentage of approvals granted by CitiMortgage (43%), Bank of America (45%), JPMorgan Chase (30%), or Ocwen (24%), according to Treasury. And when you're competing with an Ocwen who boasts an abysmal 24 percent approval rate and a JPMorgan Chase who comes in only slightly better at 30 percent... showing up with 22 percent on your report card... well, that just makes one wonder if this is a race to the bottom... or pray that it's like golf scores and lower numbers are better. (Afraid not, by the way.)''