The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
HAMP Application Activity by Servicer 1 As of May 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 May 2017 # Requests # Requests # Requests Processed 3 Approved 4 Denied 5 301 7 294 146 6 140 41 6 35 17 17 591 22 569 219 25 194 100 18 82 2,275 69 2,206 22 22 1,310 279 1,031 227 3 224 339 59 280 285 8 277 5,873 502 5,371 # Requests Received 2 1,526,511 9,959 92,380 105,590 39,479 388,421 615,924 131,064 1,854,113 635,327 16,222 1,680,508 824 24,480 53,888 304,399 130,912 161,867 1,621,139 212,677 9,605,684 Program-to-Date # Requests # Requests Processed 3 Approved 4 1,504,512 588,277 9,959 4,970 91,933 20,898 105,459 27,442 39,479 7,041 388,277 103,631 610,939 194,589 131,064 50,828 1,847,550 455,039 635,321 134,773 16,222 2,509 1,651,056 507,355 824 66 24,454 6,705 53,846 29,336 291,429 138,731 130,852 22,932 161,472 49,386 1,610,551 455,115 212,504 111,096 9,517,703 2,910,719 # Requests Denied 5 916,235 4,989 71,035 78,017 32,438 284,646 416,350 80,236 1,392,511 500,548 13,713 1,143,701 758 17,749 24,510 152,698 107,920 112,086 1,155,436 101,408 6,606,984 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. 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
@FedFRASER