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HAMP Application Activity by Servicer 1 As of January 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 14,301 25 1,537 578 436 4,785 1,022 6,314 8,114 166 15,070 246 7 246 10 348 507 5,361 1,835 1,521 8,325 70,754 Activity in January 2015 # Requests # Requests Processed 3 Approved 4 607 8,534 11 7 315 70 878 110 401 17 2,614 354 848 475 2,835 662 8,250 1,706 150 14 14,295 4,147 253 52 7 261 88 26 355 62 524 18 4,454 1,701 2,335 542 1,530 109 7,243 938 56,119 11,679 # Requests Denied 5 7,927 4 245 768 384 2,260 373 2,173 6,544 136 10,148 201 7 173 26 293 506 2,753 1,793 1,421 6,305 44,440 # Requests Received 2 1,442,164 9,958 43,840 87,454 32,678 623,351 104,372 1,575,957 488,624 12,461 895,094 385,232 641 21,427 1,159 44,486 35,772 205,818 72,188 139,087 1,478,863 170,842 7,871,468 Program-to-Date # Requests # Requests Processed 3 Approved 4 1,405,271 581,964 9,673 4,791 41,054 13,191 86,586 25,232 32,229 6,384 613,855 230,620 102,670 40,453 1,554,456 447,544 477,823 101,339 12,241 2,255 839,664 129,702 384,879 102,906 641 53 21,150 5,909 1,112 58 44,457 28,196 35,525 4,723 189,435 108,347 69,917 12,454 137,778 45,219 1,457,607 432,475 170,842 106,111 7,688,865 2,429,926 # Requests Denied 5 823,307 4,882 27,863 61,354 25,845 383,235 62,217 1,106,912 376,484 9,986 709,962 281,973 588 15,241 1,054 16,261 30,802 81,088 57,463 92,559 1,025,132 64,731 5,258,939 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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