A mortgage industry alliance, under pressure to show progress in its efforts to aid troubled borrowers, says lenders gave a record amount of assistance to homeowners last month.
Statistics released yesterday by Hope Now, a group backed by the Bush Administration to help stem the mortgage crisis, show that nearly 183,000 borrowers received a loan workout in April. That was the highest monthly number since the effort started last summer.
Some, however, call the industry efforts inadequate. They are pushing for a new $300 billion program to allow the government to back new loans for struggling homeowners. Supporters hope the measure clears Congress by July 4.