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HAMP Application Activity by Servicer 1 As of January 2017 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 Select Portfolio Servicing, Inc. Specialized Loan Servicing LLC U.S. Bank National Association Wells Fargo Bank, NA Other Servicers9 TOTAL Activity in January 2017 # Requests # Requests # Requests Processed 3 Approved 4 Denied 5 993 86 907 2 1 1 1,198 67 1,131 589 66 523 133 15 118 99 14 85 750 54 696 2,598 369 2,229 2,551 426 2,125 136 7 129 6,583 1,069 5,514 60 10 50 48 33 15 3,944 810 3,134 2,193 339 1,854 363 150 213 3,451 386 3,065 25,691 3,902 21,789 # Requests Received 2 1,528,145 10,357 93,279 105,590 39,479 388,421 619,994 131,064 1,856,875 636,183 16,222 1,681,167 824 24,336 53,888 306,775 129,514 161,867 1,623,706 212,677 9,620,363 Program-to-Date # Requests # Requests Processed 3 Approved 4 1,502,457 588,135 9,957 4,968 89,797 20,758 104,911 27,380 39,321 7,040 388,215 103,626 607,251 194,450 126,952 49,910 1,841,874 454,651 634,561 134,636 16,130 2,509 1,639,346 506,749 759 66 24,263 6,684 53,844 29,309 282,145 136,486 127,876 22,595 160,353 48,963 1,608,121 454,948 212,504 111,096 9,470,637 2,904,959 # Requests Denied 5 914,322 4,989 69,039 77,531 32,281 284,589 412,801 77,042 1,387,223 499,925 13,621 1,132,597 693 17,579 24,535 145,659 105,281 111,390 1,153,173 101,408 6,565,678 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. As of January 2017, servicers were no longer required to provide monthly requests received volumes. Due to the December 30, 2016 HAMP application deadline, servicers will not report any requests received after that date and therefore, the monthly Requests Received column has been removed from the report. Servicers continue to evaluate and decision requests which were submitted by the application deadline. 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.
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