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HAMP Application Activity by Servicer 1 As of July 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 10,008 23 1,858 1,308 567 6,727 1,450 7,626 2,442 7,889 202 17,762 224 8 605 10 535 317 5,216 2,381 1,607 8,470 77,235 Activity in July 2014 # Requests # Requests Processed 3 Approved 4 886 9,842 14 12 429 138 1,066 120 643 62 3,976 1,071 1,726 573 3,227 721 2,509 101 9,000 1,345 206 22 18,174 3,628 264 68 8 1,108 226 38 2 544 65 315 38 4,753 1,804 3,294 720 2,607 222 9,452 1,497 73,195 13,321 # Requests Denied 5 8,956 2 291 946 581 2,905 1,153 2,506 2,408 7,655 184 14,546 196 8 882 36 479 277 2,949 2,574 2,385 7,955 59,874 # Requests Received 2 1,423,820 9,845 43,121 81,743 29,756 534,851 98,424 1,559,620 121,773 443,230 11,681 872,129 383,458 592 20,805 994 41,924 18,580 176,872 61,308 129,468 1,417,798 170,842 7,652,634 Program-to-Date # Requests # Requests Processed 3 Approved 4 1,398,023 592,136 9,615 4,746 39,356 12,756 79,333 24,636 28,888 6,160 524,607 228,086 94,835 37,527 1,535,309 442,947 120,065 19,405 423,584 91,162 11,221 2,153 850,472 147,746 383,110 102,604 592 53 20,085 5,732 924 47 41,886 27,824 18,413 2,124 164,854 99,789 59,473 9,836 126,328 44,159 1,402,645 422,946 170,842 106,111 7,504,460 2,430,685 # Requests Denied 5 805,887 4,869 26,600 54,697 22,728 296,521 57,308 1,092,362 100,660 332,422 9,068 702,726 280,506 539 14,353 877 14,062 16,289 65,065 49,637 82,169 979,699 64,731 5,073,775 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. Servicers’ regularly perform evaluation and refinement of reporting, which can lead to updating Program-to-Date results. 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. Due to the ongoing implementation of the mortgage servicing rules and refinement of reporting, some servicers have updated Program-to-Date results to better reflect HAMP Application Activity. 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
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