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HAMP Application Activity by Servicer 1 As of November 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 13,394 26 1,282 512 448 3,296 500 5,752 7,664 161 14,051 287 7 179 25 497 419 6,236 1,435 1,627 7,286 65,084 Activity in November 2014 # Requests # Requests Processed 3 Approved 4 549 12,370 12 8 200 50 685 88 829 41 3,281 144 1,273 475 3,106 728 7,800 1,523 159 10 10,512 3,901 191 48 7 370 144 22 1 490 67 400 7 3,611 1,463 2,239 554 2,004 143 7,063 1,114 56,624 11,058 # Requests Denied 5 11,821 4 150 597 788 3,137 798 2,378 6,277 149 6,611 143 7 226 21 423 393 2,148 1,685 1,861 5,949 45,566 # Requests Received 2 1,435,022 9,952 48,936 86,068 31,823 554,554 102,775 1,572,708 472,111 12,414 931,140 384,811 629 20,963 1,124 43,819 19,951 191,762 68,282 135,865 1,465,908 170,842 7,761,459 Program-to-Date # Requests # Requests Processed 3 Approved 4 1,420,286 580,809 9,680 4,788 40,392 13,032 84,855 25,041 31,436 6,347 539,007 229,945 100,315 39,561 1,548,653 446,171 460,518 97,629 11,951 2,224 894,078 162,603 384,405 102,803 629 53 20,640 5,756 1,053 56 43,787 28,087 19,839 2,204 177,268 104,975 66,828 11,729 134,178 44,941 1,453,425 430,338 170,842 106,111 7,614,065 2,445,203 # Requests Denied 5 839,477 4,892 27,360 59,814 25,089 309,062 60,754 1,102,482 362,889 9,727 731,475 281,602 576 14,884 997 15,700 17,635 72,293 55,099 89,237 1,023,087 64,731 5,168,862 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 of 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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