Wells Fargo (WFC) led all servicers with 24,975 permanent loan modifications under the Home Affordable Modification Program (HAMP) through February. The US Treasury Department launched HAMP in March 2009 to provide incentives to servicers for the modification of loans on the verge of foreclosure. The 113 participating servicers have provided more than 170,000 permanent modifications through February. Another 365,000 borrowers received either a permanent workout or entered into an active trial through Wells’ private modification programs. Wells completed three modifications for every foreclosure sale on owner-occupied properties from October 2009 through February 2010, according to a company statement. According to the Treasury, Wells has more than 379,000 mortgages in its HAMP-eligible portfolio. Qualifying mortgages for HAMP must have an unpaid principal balance of less than $729,750, occupied by the owner and originated prior to Jan. 1, 2009. Qualifying borrowers must be employed, but the Treasury estimate of total HAMP-eligible loans listed in the monthly report does not tally unemployed borrowers. Wells offered 213,718 trial period plans to its borrowers, or 56% of the portfolio. Of those 114,090 are in active trial modifications. Taken as an aggregate, Wells has either permanently modified or placed into a trial period 37% of its eligible portfolio, the eighth highest percentage of any servicer. "HAMP is and will continue to be an important part of our efforts to keep people in their homes, but we are using every tool available to us to help prevent foreclosures whenever possible,” said Mike Heid, co-president of Wells Fargo Home Mortgage. Since the start of 2009, Wells added more than 9,000 people to its home retention staff to manage the increased demand for modifications and other options. Write to Jon Prior. The author holds no relevant investments.