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HAMP Application Activity by Servicer 1 As of September 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 12,498 23 1,464 3,045 494 6,226 1,397 9,344 8,752 188 15,740 95 11 374 25 421 315 5,501 1,286 1,463 8,323 76,985 Activity in September 2014 # Requests # Requests Processed 3 Approved 4 567 11,145 18 12 256 55 1,792 98 432 52 3,741 572 1,359 485 3,235 786 9,521 1,526 185 18 9,808 2,746 232 54 11 387 80 43 2 421 65 320 30 2,475 1,037 1,203 277 1,887 185 9,021 1,472 57,492 10,119 # Requests Denied 5 10,578 6 201 1,694 380 3,169 874 2,449 7,995 167 7,062 178 11 307 41 356 290 1,438 926 1,702 7,549 47,373 # Requests Received 2 1,411,338 9,888 46,022 87,292 30,800 547,368 101,026 1,568,296 455,348 12,049 898,871 383,937 616 22,204 1,076 42,841 19,196 185,797 64,540 132,748 1,449,799 170,842 7,641,894 Program-to-Date # Requests # Requests Processed 3 Approved 4 1,394,545 579,654 9,641 4,766 39,899 12,900 82,225 24,845 29,924 6,265 532,002 229,280 97,742 38,572 1,542,281 444,628 443,509 94,411 11,578 2,187 870,873 154,415 383,765 102,658 616 53 21,498 6,109 994 52 42,817 27,945 19,091 2,181 170,741 102,319 62,139 10,385 130,270 44,613 1,437,177 427,865 170,842 106,111 7,494,169 2,422,214 # Requests Denied 5 814,891 4,875 26,999 57,380 23,659 302,722 59,170 1,097,653 349,098 9,391 716,458 281,107 563 15,389 942 14,872 16,910 68,422 51,754 85,657 1,009,312 64,731 5,071,955 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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