Treasury and HUD are reporting that the number of homeowners who have converted to a permanent loan modification status under the Making Home Affordable Program improved in February. MND calls attention to the fact that 57.4 percent of permanent loan modifications were made to borrowers who are out of a job or underemployed. The true success of this program is dependent on whether or not these homeowners are able to get a job and continue paying their below market mortgage payment. If not, the loans will re-default. ...