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HAMP Application Activity by Servicer 1 As of May 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 6,692 26 1,605 732 364 4,661 1,079 6,043 7,552 123 11,115 114 9 197 16 377 619 4,000 2,574 1,097 6,613 55,608 Activity in May 2015 # Requests # Requests Processed 3 Approved 4 6,238 407 11 8 1,949 332 719 89 367 44 1,844 203 861 328 5,243 706 7,768 1,541 157 11 11,521 3,539 159 38 9 191 46 13 371 54 592 21 4,503 1,553 2,518 440 1,100 143 6,246 1,037 52,380 10,540 # Requests Denied 5 5,831 3 1,617 630 323 1,641 533 4,537 6,227 146 7,982 121 9 145 13 317 571 2,950 2,078 957 5,209 41,840 # Requests Received 2 1,465,282 10,067 58,769 89,986 34,275 607,144 109,045 1,812,246 520,921 13,060 1,489,376 386,331 676 22,387 1,236 46,127 37,986 237,363 82,933 143,987 1,509,438 170,842 8,849,477 Program-to-Date # Requests # Requests Processed 3 Approved 4 1,431,713 583,747 9,758 4,839 55,735 16,417 89,434 25,627 33,790 6,497 581,879 192,111 106,371 41,881 1,767,003 450,120 512,047 108,297 12,865 2,308 1,441,805 451,323 386,044 103,245 676 56 21,957 6,125 1,176 60 46,061 28,433 37,690 4,804 214,297 114,798 78,649 14,424 143,011 45,799 1,483,336 436,907 170,842 106,111 8,626,139 2,743,929 # Requests Denied 5 847,966 4,919 39,318 63,807 27,293 389,768 64,490 1,316,883 403,750 10,557 990,482 282,799 620 15,832 1,116 17,628 32,886 99,499 64,225 97,212 1,046,429 64,731 5,882,210 1 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. 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. 2 "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. 3 "Requests Processed" is the sum of Requests Approved and Requests Denied, defined below. 4 "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. 5 "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. 6 7 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).
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