The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
HAMP Application Activity by Servicer 1 As of February 2014 Servicer Name Bank of America, NA BankUnited Bayview Loan Servicing, LLC Carrington Mortgage Services, LLC CCO Mortgage, a division of RBS Citizens NA CitiMortgage Inc Green Tree Servicing LLC JPMorgan Chase Bank, NA Midland Mortgage Co. Nationstar Mortgage LLC Navy Federal Credit Union Ocwen Loan Servicing, LLC OneWest Bank ORNL Federal Credit Union PennyMac Loan Services, LLC PNC Bank, National Association PNC Mortgage6 Residential Credit Solutions, Inc. Select Portfolio Servicing, Inc. Specialized Loan Servicing LLC U.S. Bank National Association Wells Fargo Bank, NA Other Servicers7 TOTAL # Requests Received 2 8,237 42 1,383 1,333 507 291 1,742 10,470 2,315 11,213 169 30,177 262 16 371 17 781 274 9,147 1,256 2,201 8,205 90,409 Activity in February 2014 # Requests # Requests Processed 3 Approved 4 899 4,816 39 22 1,126 302 1,529 281 271 27 634 534 909 537 2,715 733 2,303 251 8,627 1,863 165 27 4,796 2,758 387 39 16 257 81 19 3 796 77 300 57 2,943 474 1,600 215 1,792 71 7,591 1,599 43,631 10,850 # Requests Denied 5 3,917 17 824 1,248 244 100 372 1,982 2,052 6,764 138 2,038 348 16 176 16 719 243 2,469 1,385 1,721 5,992 32,781 # Requests Received 2 1,374,426 9,699 33,828 73,426 27,300 527,293 90,160 1,538,845 110,468 408,625 10,718 1,385,083 382,092 553 18,548 723 38,407 17,120 169,398 48,615 120,845 1,379,184 170,842 7,936,198 Program-to-Date # Requests # Requests Processed 3 Approved 4 1,349,202 587,678 9,500 4,674 31,666 10,773 72,608 23,892 26,430 5,861 518,226 224,904 85,507 33,794 1,519,835 439,267 108,357 9,636 383,246 82,919 10,235 1,950 1,299,144 306,725 381,276 102,286 553 52 17,818 5,086 657 39 38,295 27,430 16,863 1,982 146,529 92,409 46,505 7,251 111,744 43,081 1,358,428 415,773 170,842 106,111 7,703,466 2,533,573 # Requests Denied 5 761,524 4,826 20,893 48,716 20,569 293,322 51,713 1,080,568 98,721 300,327 8,285 992,419 278,990 501 12,732 618 10,865 14,881 54,120 39,254 68,663 942,655 64,731 5,169,893 This report is sourced from the Monthly Servicer Survey of select servicers participating in MHA under a Servicer Participation Agreement. All data present in this report reflects what is provided by servicers participating in the survey and is not separately validated by Treasury. 1 In 2013, the Bureau of Consumer Financial Protection (CFPB) issued new mortgage servicing rules under the Real Estate Settlement Procedures Act (Regulation X). These rules, which became effective on January 10, 2014, may impact servicer processes for evaluation of requests for assistance under MHA. As a result, servicers’ reporting of Requests Received, Requests Processed, and Requests Denied (defined below) may include all mortgage modification requests. Previously, servicer reporting for these categories included only requests that met basic HAMP eligibility criteria. From time to time, a servicer's current month's cumulative results may not equal the sum of that servicer's prior month's cumulative results and current month's activity; this may be due to servicing transfers or servicer corrections to prior reporting. Note that Requests Processed, Requests Approved, and Requests Denied in any given month may be related to Requests Received in prior months. "Requests Received" is the total number of mortgage modification requests received, as reported by servicers. Cumulative Requests Received include all mortgage modification requests received since implementation of Supplemental Directive 10-02, effective June 1, 2010, and any requests that were approved for a trial modification prior to implementation of such guidance. As noted in Footnote 1 above, some servicers may include all mortgage modification requests received, whereas they previously included only requests that met basic HAMP eligibility criteria. 2 3 "Requests Processed" is the sum of Requests Approved and Requests Denied, defined below. "Requests Approved" is the total number of mortgage modification requests approved for a trial modification under HAMP and trial offers sent to the borrowers, as reported by servicers. Note that all Requests Approved do not become Active Trials because some borrowers do not accept the trial or fail to make the first trial payment. 4 "Requests Denied" is the total number of mortgage modification requests not approved for a trial modification under HAMP and the decision communicated to the borrower by the servicer in accordance with program guidance, as reported by servicers. Cumulative Requests Denied include all mortgage modification requests denied and communicated to the borrower by the servicer since implementation of Supplemental Directive 10-02, effective June 1, 2010; servicers do not report Requests Denied prior to then as relevant data is incomplete. Figures include HAMP mortgage modification requests denied due to insufficient documentation, failure to meet basic eligibility criteria, and/or other reasons. 5 6 Formerly National City Bank. Includes servicers that are no longer actively participating in the survey process or those whose Servicer Participation Agreement has been terminated. These servicers no longer submit a survey, and their results only reflect previous periods when the survey questions were not as extensive as current surveys (e.g. #Requests Denied was not a component of earlier surveys). 7
@FedFRASER