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HAMP Application Activity by Servicer 1 As of March 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 7,364 34 2,766 633 432 4,449 1,154 5,576 8,892 168 13,073 201 7 224 15 487 564 5,986 3,016 1,186 9,312 65,539 Activity in March 2015 # Requests # Requests Processed 3 Approved 4 456 6,896 17 14 1,711 387 869 134 416 22 1,745 231 801 274 5,756 678 9,614 1,980 183 12 13,147 3,987 194 36 7 1 186 53 19 474 64 590 21 5,328 1,905 1,323 266 1,301 148 6,659 1,180 57,236 11,849 # Requests Denied 5 6,440 3 1,324 735 394 1,514 527 5,078 7,634 171 9,160 158 6 133 19 410 569 3,423 1,057 1,153 5,479 45,387 # Requests Received 2 1,450,938 10,011 55,572 88,659 33,492 603,387 106,586 1,775,465 504,574 12,771 1,469,117 386,064 654 21,901 1,193 45,377 36,789 214,529 77,219 141,661 1,495,911 170,842 8,702,712 Program-to-Date # Requests # Requests Processed 3 Approved 4 1,418,652 582,859 9,711 4,820 51,887 15,711 88,104 25,440 32,973 6,418 578,234 191,653 104,432 41,153 1,756,826 448,829 494,615 104,865 12,550 2,282 1,414,593 443,717 385,726 103,166 654 54 21,583 6,036 1,142 59 45,313 28,321 36,563 4,762 198,750 111,699 73,541 13,356 140,646 45,483 1,470,143 434,667 170,842 106,111 8,507,480 2,721,461 # Requests Denied 5 835,793 4,891 36,176 62,664 26,555 386,581 63,279 1,307,997 389,750 10,268 970,876 282,560 600 15,547 1,083 16,992 31,801 87,051 60,185 95,163 1,035,476 64,731 5,786,019 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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