US Treasury statistics for the government’s programme to modify delinquent mortgages show that JPMorgan Chase and Citigroup are renegotiating mortgages at a higher rate than Bank of America or Wells Fargo.

The statistics, which reflect mortgage modifications made through July, show that almost 1.4m US homeowners have requested information about the government’s mortgage modification programme, and that 407,000 offers have been extended by taxpayer-supported banks to modify mortgages. More than 235,000 loan modifications have begun.