According to a report on Cnnmoney.com Bank of America says it’s the first lender to basically modify 2nd mortgage loans, they say this will be a big boost to helping the HAMP program be more successful. According the B of A the Second Lien Modification Program which is the new federal program , pays incentives to second mortgage lenders to work closely with first mortgage holders under the Home Affordable Modification Program. They are also passing the buck (no surprise there) that it is the 2nd lien holders who have prevented the HAMP program from being as successful as it could have been. 
Bank of America was on some loan modification companies black list for 2007/2008 I noticed personally that in 2009 in got a little better. For my clients who have 2nd or even 3rd mortgages if they have some credit card debt we get it all wiped out in a Chapter 7 bankruptcy. This can be a God send for some families. Here is an example family of 5 wife is stay at home mom, husband makes decent money. When they bought their house in 2003 they bought for $400,000 in 2006 it was worth almost a million so they cashed out equity thus the 2nd and 3rd mortgage , now they owe $650,000 got a mobile home, cabin and boat and jet skis had some fun. Ok now they have $60,000 in credit card debt, the mortgage the boat payment and time share payment and husband isn’t getting his annual bonus anymore. We filed ch.7 bankruptcy got rid of the 2nd and 3rd mortgages and wiped out all credit card debt and they got to keep everything. We didn’t even have to modify the 1st loan since the BK made it affordable by getting ride of everything else.
I don’t know how B of A thinks that by getting 2nd mortgage lenders to modify their loans will help make the 1st loan modifications easier, so not true. First of all 2nd liens are much smaller and more affordable, they aren’t usually the problem. This is just another lame attempt at trying to look good in the public’s eyes.