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HAMP Application Activity by Servicer 1 As of July 2015 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 5,087 21 1,639 634 339 5,388 683 6,775 8,186 171 12,499 115 5 135 15 419 517 3,999 2,547 1,192 7,108 57,474 Activity in July 2015 # Requests # Requests Processed 3 Approved 4 4,436 316 16 6 1,276 299 749 108 351 38 1,693 167 1,402 534 4,963 639 8,063 1,461 140 12 11,286 3,374 134 25 5 218 65 22 1 425 52 497 19 4,523 1,584 3,011 556 1,195 144 6,489 972 50,894 10,372 # Requests Denied 5 4,120 10 977 641 313 1,526 868 4,324 6,602 128 7,912 109 5 153 21 373 478 2,939 2,455 1,051 5,517 40,522 # Requests Received 2 1,473,140 10,115 62,065 91,311 35,090 608,181 110,514 1,824,937 537,248 13,382 1,513,423 386,608 685 22,643 1,275 46,961 39,135 245,173 88,795 146,302 1,521,989 170,842 8,949,814 Program-to-Date # Requests # Requests Processed 3 Approved 4 1,441,333 584,415 9,785 4,852 58,586 17,028 90,983 25,829 34,623 6,570 585,403 192,434 108,179 42,719 1,777,116 451,326 528,487 111,591 13,169 2,343 1,463,386 457,598 386,336 103,306 685 56 22,344 6,240 1,220 62 46,908 28,544 38,849 4,847 223,151 117,849 84,746 15,537 145,384 46,110 1,496,092 438,851 170,842 106,111 8,727,607 2,764,218 # Requests Denied 5 856,918 4,933 41,558 65,154 28,053 392,969 65,460 1,325,790 416,896 10,826 1,005,788 283,030 629 16,104 1,158 18,364 34,002 105,302 69,209 99,274 1,057,241 64,731 5,963,389 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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