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HAMP Application Activity by Servicer 1 As of August 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 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 13,723 20 1,437 2,504 550 6,291 1,205 7,249 9,111 180 16,874 696 13 1,025 29 496 301 5,045 1,946 1,817 7,741 78,253 Activity in August 2014 # Requests # Requests Processed 3 Approved 4 497 10,865 8 8 287 89 1,100 111 604 53 3,654 622 1,548 560 3,737 895 10,404 1,723 172 16 14,282 4,418 735 135 13 1,026 297 27 3 510 56 358 27 3,519 1,497 1,463 272 2,055 269 9,239 1,432 65,606 12,980 # Requests Denied 5 10,368 198 989 551 3,032 988 2,842 8,681 156 9,864 600 13 729 24 454 331 2,022 1,191 1,786 7,807 52,626 # Requests Received 2 1,400,904 9,865 44,558 84,247 30,306 541,142 99,629 1,563,139 446,596 11,861 883,131 384,154 605 21,830 1,041 42,420 18,881 181,147 63,254 131,285 1,439,961 170,842 7,570,798 Program-to-Date # Requests # Requests Processed 3 Approved 4 1,383,400 579,087 9,623 4,754 39,643 12,845 80,433 24,747 29,492 6,213 528,261 228,708 96,383 38,087 1,539,046 443,842 433,988 92,885 11,393 2,169 861,065 151,669 383,845 102,739 605 53 21,111 6,029 952 51 42,396 27,880 18,771 2,151 168,352 101,285 60,936 10,108 128,383 44,428 1,426,803 426,691 170,842 106,111 7,435,723 2,412,532 # Requests Denied 5 804,313 4,869 26,798 55,686 23,279 299,553 58,296 1,095,204 341,103 9,224 709,396 281,106 552 15,082 901 14,516 16,620 67,067 50,828 83,955 1,000,112 64,731 5,023,191 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. "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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