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HAMP Application Activity by Servicer 1 As of March 2016 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 6,675 13 2,099 933 280 100 1,277 429 3,903 6,477 158 12,037 6 107 384 36 3,456 2,533 1,144 7,102 49,149 Activity in March 2016 # Requests # Requests Processed 3 Approved 4 3,755 217 15 14 1,958 220 927 94 339 35 118 19 1,493 137 525 212 3,763 603 6,998 1,710 175 15 12,147 3,376 6 89 23 373 41 38 4 3,181 1,167 2,570 433 828 257 7,171 1,019 46,469 9,596 # Requests Denied 5 3,538 1 1,738 833 304 99 1,356 313 3,160 5,288 160 8,771 6 66 332 34 2,014 2,137 571 6,152 36,873 # Requests Received 2 1,503,053 10,267 76,443 97,693 38,114 387,509 611,652 115,671 1,832,105 591,924 14,604 1,600,680 733 23,498 51,114 41,789 272,598 109,368 155,374 1,576,446 170,842 9,281,477 Program-to-Date # Requests # Requests Processed 3 Approved 4 1,472,335 586,518 9,873 4,921 72,900 19,099 97,599 26,642 37,750 6,843 387,295 103,501 597,303 193,627 113,530 44,356 1,811,843 450,237 585,489 123,917 14,429 2,437 1,550,142 483,463 733 56 23,352 6,495 50,991 28,963 41,618 4,983 249,875 127,693 105,080 18,940 153,774 47,394 1,553,781 447,565 170,842 106,111 9,100,534 2,833,761 # Requests Denied 5 885,817 4,952 53,801 70,957 30,907 283,794 403,676 69,174 1,361,606 461,572 11,992 1,066,679 677 16,857 22,028 36,635 122,182 86,140 106,380 1,106,216 64,731 6,266,773 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 complete 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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