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HAMP Application Activity by Servicer 1 As of October 2015 Servicer Name Bank of America, NA BankUnited Bayview Loan Servicing, LLC Carrington Mortgage Services, LLC CCO Mortgage, a division of RBS Citizens NA CIT Bank, NA6 CitiMortgage Inc Ditech Financial LLC7 JPMorgan Chase Bank, NA Nationstar Mortgage LLC Navy Federal Credit Union Ocwen Loan Servicing, LLC ORNL Federal Credit Union PennyMac Loan Services, LLC PNC Bank NA8 Residential Credit Solutions, Inc. Select Portfolio Servicing, Inc. Specialized Loan Servicing LLC U.S. Bank National Association Wells Fargo Bank, NA Other Servicers9 TOTAL # Requests Received 2 4,944 20 1,779 781 352 92 2,018 566 5,308 6,904 161 11,505 9 149 381 468 3,832 2,323 1,113 7,453 50,158 Activity in October 2015 # Requests # Requests Processed 3 Approved 4 4,047 300 17 11 1,968 260 904 129 338 29 109 28 1,580 164 474 128 5,336 947 7,157 1,623 170 11 11,547 3,336 9 133 34 388 52 450 12 3,646 1,451 2,698 486 1,023 198 7,123 1,219 49,117 10,418 # Requests Denied 5 3,747 6 1,708 775 309 81 1,416 346 4,389 5,534 159 8,211 9 99 336 438 2,195 2,212 825 5,904 38,699 # Requests Received 2 1,466,676 10,170 67,898 93,698 36,195 386,959 605,795 112,811 1,814,055 559,699 13,865 1,545,286 707 23,000 49,305 40,594 256,119 96,738 149,956 1,543,606 170,842 9,043,974 Program-to-Date # Requests # Requests Processed 3 Approved 4 1,453,796 585,289 9,824 4,884 63,978 17,799 93,570 26,152 35,774 6,668 386,698 103,392 590,206 192,892 110,362 43,274 1,793,052 447,034 551,688 116,153 13,640 2,382 1,496,516 467,410 707 56 22,815 6,377 49,200 28,754 40,276 4,893 233,720 121,570 92,572 16,778 148,965 46,632 1,518,747 442,300 170,842 106,111 8,876,948 2,786,800 # Requests Denied 5 868,507 4,940 46,179 67,418 29,106 283,306 397,314 67,088 1,346,018 435,535 11,258 1,029,106 651 16,438 20,446 35,383 112,150 75,794 102,333 1,076,447 64,731 6,090,148 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 OneWest Bank. 7 Formerly GreenTree Servicing LLC. 8 Includes both PNC Bank, NA and PNC Mortgage, formerly National City Bank. 9 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
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