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Making Home Affordable Program Servicer Performance Report Through March 2010 Report Highlights Inside: Over 230,000 Homeowners Granted Permanent Modifications Administration Housing Initiatives 2 • More than 230,000 total permanent modifications have been granted to homeowners, who are guaranteed lower payments for five years. • In addition, more than 108,000 permanent modifications have been approved by servicers and are pending borrower acceptance. Economic Indicators 3 HAMP Program Snapshot 4 • More than 1.1 million trial modifications have begun under the program. • 57,000 new trial modifications were added in March, down from 72,000 in February, reflecting servicers increasingly requiring upfront documentation from homeowners to comply with pending HAMP policy requirements. • Borrowers realize immediate relief with the first trial payment. • More than 1.4 million homeowners have received offers for trial modifications. • Of the 1 million borrowers in active modifications (trial and permanent), more than 227,000 borrowers are in permanent modifications. • The lower monthly mortgage payments for homeowners in HAMP represent a cumulative reduction of over $3 billion. Waterfall of HAMP‐Eligible Borrowers 5 Characteristics of Permanent Modifications 6 Selected Outreach Measures 6 Servicer Activity 7 Servicers Making Progress on Trial Modification Decisions HAMP Activity by State 8 HAMP Activity by Metropolitan Area 9 Modifications by Investor Type 9 Over 1.1 Million Trial Modifications for Homeowners • Over 60,000 trial modifications converted to permanent modifications in March, an increase of almost 15% from the nearly 53,000 in February. HAMP Is One Part of the Administration Initiatives to Promote Housing and Financial Stability (see Page 2) List of Non‐GSE Participants 10 1 Making Home Affordable Program Servicer Performance Report Through March 2010 Overview of Administration Housing Stability Initiatives Initiatives to Support Access to Affordable Mortgage Credit and Housing Lower Mortgage Rates and Access to Credit: • Continued financial support to maintain affordable mortgage rates through the Government-Sponsored Enterprises (GSEs). • Interest rates remain near historic lows. Every 1% reduction in interest rate saves a new borrower a median of $1,500 annually in mortgage payments. • Access to sustainable mortgages through the Federal Housing Administration (FHA). • FHA Refinance options to help homeowners owing more than their homes are worth. State and Local Housing Initiatives: • Access for Housing Finance Agencies to provide mortgages to first-time homebuyers, refinance opportunities for at-risk borrowers, and affordable rental housing. Over 90 HFAs across 45 states are participating. Tax Credits for Housing: Initiatives to Prevent Avoidable Foreclosures and Stabilize Neighborhoods Making Home Affordable – Modifications: • Offering up to 3-4 million homeowners assistance to help prevent avoidable foreclosures through 2012. • More than 1.1 million homeowners have started trial modifications and over 1.4 million offers for trial modifications have been extended to borrowers. • Homeowners in permanent modifications have a median payment reduction of over $500 per month. Homeowners in trial and permanent modifications have had a reduction of over $3 billion in monthly mortgage payments in aggregate. Refinancing: • Refinancing flexibilities and low mortgage rates have allowed over 4 million borrowers with GSE mortgages to refinance, saving an average of $150 per month and more than $7.0 billion over the past year. Neighborhood Stabilization and Community Development Programs: • Homebuyer credit to help hundreds of thousands of American families buy new homes. • Over $5 billion in Recovery Act support for the hardest hit communities to help stabilize neighborhoods. • Low-Income Housing Tax Credit (LIHTC) programs to support affordable rental housing, with total funding of $5 billion. • $2.1 billion HFA Innovation Fund for the Hardest Hit Housing Markets to support innovative foreclosure prevention efforts. 2 Making Home Affordable Program Servicer Performance Report Through March 2010 Mortgage Rates Housing Inventory 14 12 Conventional 30‐ year Fixed Rate 10 Months Percent 20 18 16 14 12 10 8 6 4 2 0 8 Months' supply of existing homes at the current sales pace 6 4 10‐year Treasury Rate Months' supply of new homes at the current sales pace 2 0 1999 1975 1978 1981 1984 1987 1990 1993 1996 1999 2002 2005 2008 Source: Federal Reserve. Home Prices 1999 2005 2008 Source: National Association of Realtors. New and Existing Home Sales Index: Jan 2000 = 100 1,600 Case/Shiller 20‐city composite 1,400 7,000 Sales of existing homes (right axis) 6,000 1,200 5,000 1,000 FHFA purchase‐only index Loan Performance National Home Price Index Thousands 230 210 190 170 150 130 110 90 70 50 2002 4,000 Sales of new homes (left axis) 800 3,000 600 2,000 400 1,000 200 0 2002 2005 Sources: S&P/Case-Shiller Home Price Index; LP/Haver Analytics; FHFA. Note: Shaded areas indicate recessions. 2008 1999 0 2002 2005 2008 Source: National Association of Realtors, Census Bureau. 3 Making Home Affordable Program Servicer Performance Report Through March 2010 Home Affordable Modification Program (HAMP) Snapshot Program Inception Through March 20101 HAMP Trials Started (Cumulative, by Month) 1,400,000 Number of Trial Period Plan Offers Extended to Borrowers (Cumulative) 2 1,436,802 1,166,925 1,109,588 1,028,887 1,200,000 1,000,000 All HAMP Trials Started Since Program Inception 939,949 825,188 1,166,925 800,000 712,969 600,000 Trials Converted to Permanent Modifications 554,293 419,163 230,801 400,000 274,116 155,108 200,000 1 As reported by the HAMP system of record except where noted. Survey data provided by servicers. 54,562 2 Source: 0 May and Prior Home Affordable Modification Program (HAMP) Snapshot As of March 20101 Active Modifications (Trial and Permanent) 1,008,873 June July Aug. Sept. Oct. Nov. Dec. Jan. 780,951 Active Permanent Modifications 227,922 Pending Permanent Modifications2 108,212 March Source: All trial modifications started by month first payment posted; based on numbers reported by servicers to the HAMP system of record. Permanent Modifications Started (Cumulative, by Month) 250,000 Active Trial Modifications Feb. 230,801 200,000 170,207 150,000 117,302 Trial Modifications Canceled Permanent Modifications Canceled3 155,173 100,000 66,938 2,879 50,000 31,424 1 As reported by the HAMP system of record. 2 As reported by the top 21 servicers based on cap allocation; pending permanent modifications have been approved by the servicer but have not yet been accepted by the borrower. While pending, modifications are reflected in the count of active trials. 3 Includes 37 loans paid off. Additional information on HAMP can be found on MakingHomeAffordable.gov Borrowers may call the Homeowner’s HOPE Hotline at 1-888-995-HOPE (4673). 4,742 15,649 0 September and Prior Source: HAMP system of record. October November December January February March 4 Making Home Affordable Program Servicer Performance Report Through March 2010 Waterfall of HAMP-Eligible Borrowers Not all 60-day delinquent loans are eligible for HAMP. Other characteristics may preclude borrower eligibility. Based on the estimates, of the 6.0 million borrowers who were 60 days delinquent in the 4th quarter of 2009, 1.7 million borrowers are eligible for HAMP. As this represents a point-in-time snapshot of the delinquency population and estimated HAMP eligibility, we expect that more borrowers will become eligible for HAMP from now through 2012. 7 6 Loans (Millions) 5 6.0 5.1 4.3 4 3.5 3 3.4 HAMPEligible 60+ Day Delinquent Loans (GSE and SPA Servicers) 2 1 HAMP Estimated Eligible 60+ Day Delinquent Borrowers = Estimate 2.5 2.1 1.7 1.7 0 1st Lien, 60+ Days Less: Non‐ Delinquent Participating HAMP Servicer Less: FHA or VA Less: Non‐Owner Occupied at Origination Less: Jumbo Non‐ Less: DTI Less Than Less: Negative NPV Less: Vacant Conforming Loans 31% Properties and and Loans Other Exclusions* Originated After 1/1/2009 Estimated HAMP‐ Eligible Borrowers •Other exclusions include: no longer owner-occupied; investor’s pooling and servicing agreement precludes modification; and manufactured housing loans with titling/chattel issues that exclude them from HAMP. Sources: Fannie Mae; monthly survey of participating servicers for February 28,2010. Total 60+ delinquent figure from 4th quarter 2009 MBA delinquency survey. Excluded loans are as reported by servicers by survey who have signed a servicer participation agreement for HAMP. 5 Making Home Affordable Program Servicer Performance Report Through March 2010 Predominant Hardship Reasons for Permanent Modifications Modification Characteristics • Lower monthly mortgage payments for borrowers in active trial and permanent modifications represent a cumulative reduction of more than $3 billion. Loss of Income • The median savings for borrowers in permanent modifications is $512.39, or 36% of the median beforemodification payment. 1 59.1% Excessive Obligation 10.5% Permanent Modifications by Modification Steps: Interest Rate Reduction 100% Term Extension 38.9% Illness of Principal Borrower 2.8% 0% Principal Forbearance 27.6% 20% 40% 60% 80% 1 Includes borrowers who are employed but have faced a reduction in hours and/or wages as well as those who have lost their jobs. Note: Does not include 19.9% of permanent modifications reported as Other. Select Median Characteristics of Permanent Modifications Loan Characteristic Front-End Debt-to-Income Ratio1 Back-End Debt-to-Income Ratio2 Median Monthly Payment3 Before After Modification Modification Selected Outreach Measures Median Decrease 44.8% 31.0% ‐13.9 pct pts 77.5% 61.3% ‐14.4 pct pts $1,428.46 $841.61 ‐$512.39 4,077,912 Page views on MHA.gov (March 2010) 7,064,803 Page views on MHA.gov (cumulative) 73,545,446 Percentage to Goal of 3-4 Million Modification Offers by 20122 1 Ratio of housing expenses (principal, interest, taxes, insurance and homeowners association and/or condo fees) to monthly gross income. 2 Ratio of total monthly debt payments (including mortgage principal and interest, taxes, insurance, homeowners association and/or condo fees, plus payments on installment debts, junior liens, alimony, car lease payments and investment property payments) to monthly gross income. Borrowers who have a back-end debt-to-income ratio of greater than 55% are required to seek housing counseling under program guidelines. 3 Principal and interest payment. Servicer Solicitation of Borrowers (cumulative since program inception)1 36-48% 1 Source: survey data provided by servicers. Servicers are encouraged by HAMP to solicit information from borrowers 60+ days delinquent, regardless of eligibility for a HAMP modification. 2 In 2009, Treasury set a goal of offering help to 3-4 million borrowers through the end of 2012, as measured by trial plan offers extended to borrowers. 6 Making Home Affordable Program Servicer Performance Report Through March 2010 HAMP Modification Activity by Servicer Servicer American Home Mortgage Servicing Inc Aurora Loan Services, LLC Bank of America, NA5 Estimated Eligible 60+ Day Delinquency1 Trial Plan Offers Extended2 All HAMP Trials Started3 Active Trial Modifications3 Permanent Modifications3 Pending Permanent Modifications4 Active Trials + Permanents as Share of Eligible 60+ Day Delinquencies 121,342 18,214 15,001 10,740 4,194 7,397 12% 75,550 47,508 41,286 15,335 9,887 1,497 33% 1,085,894 388,043 289,351 250,658 32,900 38,074 26% Active Modifications as a Share of Estimated Eligible 60+ Day Delinquencies1 GMAC 5,277 1,667 1,389 635 736 528 26% Bayview Loan Servicing, LLC 9,685 2,711 4,630 3,567 819 91 45% J.P. Morgan Chase Carrington Mortgage Services LLC 18,235 3,082 1,708 298 1,398 48 9% CCO Mortgage 5,880 1,842 1,476 1,230 246 487 25% CitiMortgage, Inc. 246,582 153,113 142,804 92,597 22,455 9,533 47% GMAC Mortgage, Inc. 66,750 51,420 40,494 14,742 17,102 2,776 48% Aurora Green Tree Servicing LLC 12,336 6,795 5,129 3,628 556 1,470 34% HomEq Servicing 40,568 4,879 2,116 1,311 713 1,117 5% J.P. Morgan Chase Bank, NA6 431,341 247,530 186,769 129,992 31,460 17,894 37% Litton Loan Servicing LP 105,593 36,430 30,169 19,734 5,469 878 24% Ocwen Nationstar Mortgage LLC 45,616 23,870 20,198 8,241 5,740 877 31% Ocwen Financial Corporation, Inc. 61,949 21,767 17,720 5,771 11,060 2,764 27% 56,302 38,598 28,214 6,883 5,673 32% 21,731 17,562 10,979 743 853 26% Saxon Mortgage Services, Inc. 68,028 43,164 38,584 15,973 8,721 4,061 36% Select Portfolio Servicing 55,543 58,953 35,071 11,568 11,483 1,639 42% US Bank NA Wachovia Mortgage, FSB8 Wells Fargo Bank, NA9 Other SPA servicers10 Other GSE Total Servicers11 34,160 11,890 9,157 4,817 4,191 1,393 26% 65,426 6,665 3,902 3,894 6 0 6% 378,480 225,610 165,217 114,918 30,014 9,162 38% 22,895 3,616 2,916 1,283 1,411 NA 12% 287,624 NA 55,678 3,398,612 1,436,802 1,166,925 1 Estimated eligible 60+ day delinquent mortgages as reported by servicers as of February 28, 2010, include conventional loans: in foreclosure and bankruptcy. with a current unpaid principal balance less than $729,750 on a one-unit property, $934,200 on a two-unit property, $1,129,250 on a three-unit property and $1,403,400 on a four-unit property. on a property that was owner-occupied at origination. originated prior to January 1, 2009. Estimated eligible 60+ day delinquent loans excludes: FHA and VA loans. loans that are current or less than 60 days delinquent, which may be eligible for HAMP if a borrower is in imminent default. For servicers enrolling after January 1, 2010 that did not participate in the 60+ day delinquency survey, the delinquency count is from the servicer registration form. 2 As reported in the weekly servicer survey through April 1, 2010. 3 Active trial and permanent modifications as reported into the HAMP system of record 30,826 19,735 NA 18% 780,951 227,922 108,212 30% by servicers. As reported by servicers. Pending permanent modifications have been approved by the servicer but have not yet been accepted by the borrower. While pending, modifications are reflected in the count of active trials. This metric will be reported through March 2010. 5 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. 6 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation. 7 Formerly National City Bank. 8 Wachovia Mortgage, FSB consists of Pick-a-Payment loans. 9 Wells Fargo Bank, NA includes a portion of the loans previously included in Wachovia Mortgage, FSB. 10 Other SPA servicers are entities with less than 5,000 estimated eligible 60+ day delinquencies that have signed participation agreements with Treasury and Fannie Mae. A full list of participating servicers is in the Appendix. 11 Includes servicers of loans owned or guaranteed by Fannie Mae and Freddie Mac. 4 38% 37% 36% 34% 33% OneWest Nationstar 44,303 42% Saxon Green Tree 109,555 45% Select Portfolio Bank United PNC Mortgage7 47% Bayview Wells Fargo OneWest Bank 48% CitiMortgage 32% 31% 27% PNC Mortgage 26% US Bank 26% Bank of America 26% Bank United 26% CCO Active Modifications In: 25% Litton January 24% American Home February 12% Carrington 9% Wachovia March 6% HomEq 5% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% % of Eligible 60+ Day Loans Note: Includes active trial and permanent modifications. Servicer combinations are the same as the table at left. Modifications through January as share of 60+ day delinquencies on December 31, 2009. Modifications through February as share of 60+ day delinquencies on January 31, 2010. Modifications through March as share of 60+ delinquencies on February 28, 2010. 7 Making Home Affordable Program Servicer Performance Report Through March 2010 HAMP Activity by State HAMP Activity by State State AK Active Trials 450 Permanent Modifications 102 State MT Active Trials 1,090 Permanent Modifications 260 Total 552 Total 1,350 AL 5,531 1,428 6,959 NC 16,457 4,677 21,134 AR 2,245 603 2,848 ND 205 43 248 AZ 37,269 12,722 49,991 NE 1,229 346 1,575 CA 159,780 47,933 207,713 NH 3,379 1,147 4,526 CO 10,929 3,422 14,351 NJ 26,154 7,458 33,612 CT 9,982 2,948 12,930 NM 2,907 758 3,665 DC 1,501 372 1,873 NV 20,661 6,400 27,061 DE 2,533 801 3,334 NY 37,449 8,380 45,829 FL 95,400 28,286 123,686 OH 17,042 5,134 22,176 GA 31,433 8,668 40,101 OK 2,522 560 3,082 HI 2,876 837 3,713 OR 8,955 2,678 11,633 IA 2,575 619 3,194 PA 18,038 4,792 22,830 ID 3,172 944 4,116 RI 3,558 1,216 4,774 IL 41,441 11,773 53,214 SC 8,390 2,327 10,717 IN 8,430 2,373 10,803 SD 398 85 483 KS 2,434 602 3,036 TN 8,697 2,561 11,258 KY 3,384 919 4,303 TX 27,646 5,433 33,079 LA 4,777 1,108 5,885 UT 6,803 2,149 8,952 MA 17,689 5,635 23,324 VA 19,152 6,190 25,342 MD 25,429 7,868 33,297 VT 552 195 747 ME 2,009 711 2,720 WA 15,387 4,676 20,063 MI 25,808 7,906 33,714 WI 7,720 2,347 10,067 MN 13,852 4,948 18,800 WV 1,316 373 1,689 MO 9,704 2,623 12,327 WY 403 137 540 MS 3,053 899 3,952 Other* 1,155 550 1,705 HAMP Modifications Note: Includes active trial and permanent modifications from the official HAMP system of record. 5,000 and lower 20,001 – 35,000 5,001 – 10,000 35,001 and higher 10,001 – 20,000 Mortgage Delinquency Rates by State 60+ Day Delinquency Rate * Includes Guam, Puerto Rico and the U.S. Virgin Islands. Source: Mortgage Bankers Association. Data is latest available and is as of 4th Quarter 2009. 5.0% and lower 10.01% - 15.0% 20.01% 5.01% - 10.0% 15.01% - 20.0% and higher 8 Making Home Affordable Program Servicer Performance Report Through March 2010 15 Metropolitan Areas With Highest HAMP Activity Metropolitan Statistical Area New York-Northern New JerseyLong Island, NY-NJ-PA Los Angeles-Long Beach-Santa Ana, CA Chicago-Naperville-Joliet, IL-IN-WI Riverside-San Bernardino-Ontario, CA Miami-Fort Lauderdale-Pompano Beach, FL Active Trials 49,457 Total Permanent HAMP Modifications Activity 12,247 61,704 HAMP Modifications by Investor Type (20 Largest Servicers) % of All HAMP Activity 6.1% Bank of America, GSE NA1 2 47,255 12,887 60,142 6.0% 39,914 11,333 51,247 5.1% 35,559 11,992 47,551 4.7% 36,856 10,206 47,062 4.7% Phoenix-Mesa-Scottsdale, AZ 30,523 10,533 41,056 4.1% Washington-Arlington-Alexandria, DC-VA-MD-WV 26,811 8,282 35,093 3.5% Atlanta-Sandy Springs-Marietta, GA 25,382 7,041 32,423 3.2% Las Vegas-Paradise, NV 17,236 5,200 22,436 2.2% Detroit-Warren-Livonia, MI 16,337 4,637 20,974 2.1% Orlando-Kissimmee, FL 15,287 4,723 20,010 2.0% 13,802 3,839 17,641 1.7% 12,490 4,024 16,514 1.6% 12,031 3,653 15,684 1.6% 11,653 3,882 15,535 1.5% Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Boston-Cambridge-Quincy, MA-NH Tampa-St. Petersburg-Clearwater, FL Sacramento-Arden-ArcadeRoseville, CA Servicer A complete list of HAMP activity for all MSAs is available at http://makinghomeaffordable.gov/docs/MSA%20Data%20March.pdf Wells Fargo Bank, NA JP Morgan Chase NA3 CitiMortgage, Inc. OneWest Bank GMAC Mortgage, Inc. Aurora Loan Services, LLC Litton Loan Servicing LP Saxon Mortgage Services Inc. Select Portfolio Servicing Ocwen Financial Corporation, Inc. American Home Mortgage Servicing Inc Nationstar Mortgage LLC PNC Mortgage4 US Bank NA Bayview Loan Servicing, LLC Green Tree Servicing LLC Wachovia Mortgage, FSB5 HomEq Servicing Carrington Mortgage Services LLC Remainder of HAMP Servicers Total Private Portfolio Total 181,003 88,367 14,188 283,558 104,426 75,013 78,658 18,186 18,888 14,187 2,007 1,667 35,110 63,949 7,716 14,508 12,956 10,730 23,196 22,312 5,396 22,490 28,678 2,403 0 305 0 715 144,932 161,452 115,052 35,097 31,844 25,222 25,203 24,694 553 19,761 2,737 23,051 4,656 12,108 67 16,831 989 13,945 0 14,934 10,194 10,424 6,539 1 3,914 93 0 0 52,688 584,086 3,769 113 26 4,355 260 220 1,985 1,696 73 337,155 18 1,185 2,443 30 10 3,587 39 0 3,341 87,632 13,981 11,722 9,008 4,386 4,184 3,900 2,024 1,696 56,102 1,008,873 1 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loans Services and Wilshire Credit Corporation. 2 Wells Fargo Bank, NA includes a portion of the loans previously included in Wachovia Mortgage, FSB. 3 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation. 4 Formerly National City Bank. 5 Wachovia Mortgage, FSB consists of Wachovia Mortgage FSB Pick-a-Payment loans. Note: Figures reflect active trials and permanent modifications. 9 Making Home Affordable Program Servicer Performance Report Through March 2010 Appendix: Non-GSE Participants in HAMP Allstate Mortgage Loans & Investments, Inc. American Eagle Federal Credit Union American Home Mortgage Servicing, Inc AMS Servicing, LLC Aurora Loan Services, LLC Bank of America, N.A.1 Bank United Bay Federal Credit Union Bay Gulf Credit Union Bayview Loan Servicing, LLC Carrington Mortgage Services, LLC CCO Mortgage Central Florida Educators Federal Credit Union Central Jersey Federal Credit Union Chase Home Finance, LLC CitiMortgage, Inc. Citizens 1st National Bank Citizens First Wholesale Mortgage Company Community Bank & Trust Company CUC Mortgage Corporation Digital Federal Credit Union DuPage Credit Union Eaton National Bank & Trust Co Farmers State Bank Fidelity Homestead Savings Bank First Bank First Federal Savings and Loan First Federal Savings and Loan Assn. of Lakewood First Keystone Bank First National Bank of Grant Park Franklin Credit Management Corporation Fresno County Federal Credit Union Glass City Federal Credit Union Glenview State Bank GMAC Mortgage, Inc. Golden Plains Credit Union Grafton Suburban Credit Union Great Lakes Credit Union Greater Nevada Mortgage Services Green Tree Servicing LLC Harleysville National Bank & Trust Company Hartford Savings Bank Hillsdale County National Bank Home Financing Center, Inc HomEq Servicing HomeStar Bank & Financial Services Horicon Bank Horizon Bank, NA Iberiabank IBM Southeast Employees' Federal Credit Union IC Federal Credit Union Idaho Housing and Finance Association iServe Residential Lending LLC iServe Servicing Inc. J.P.Morgan Chase Bank, NA2 Lake City Bank Lake National Bank Litton Loan Servicing Los Alamos National Bank Marix Servicing, LLC Members Mortgage Company, Inc Metropolitan National Bank Mission Federal Credit Union MorEquity, Inc. Mortgage Center, LLC Mortgage Clearing Corporation National City Bank Nationstar Mortgage LLC Navy Federal Credit Union Oakland Municipal Credit Union Ocwen Financial Corporation, Inc. OneWest Bank ORNL Federal Credit Union Park View Federal Savings Bank PennyMac Loan Services, LLC PNC Bank, National Association Purdue Employees Federal Credit Union QLending, Inc. Quantum Servicing Corporation Residential Credit Solutions RG Mortgage Corporation Roebling Bank RoundPoint Mortgage Servicing Corporation Saxon Mortgage Services, Inc. Schools Financial Credit Union SEFCU Select Portfolio Servicing Servis One Inc., dba BSI Financial Services, Inc. ShoreBank Silver State Schools Credit Union Sound Community Bank Specialized Loan Servicing, LLC Spirit of Alaska Federal Credit Union Stanford Federal Credit Union Sterling Savings Bank Technology Credit Union Tempe Schools Credit Union The Bryn Mawr Trust Co. The Golden 1 Credit Union U.S. Bank National Association United Bank of Georgia United Bank Mortgage Corporation Urban Trust Bank Vantium Capital, Inc. Verity Credit Union Vist Financial Corp. Wells Fargo Bank, NA3 Wescom Central Credit Union Yadkin Valley Bank 1 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. 2 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation. 3 Wells Fargo Bank, NA includes Wachovia Mortgage FSB and Wachovia Bank NA. 10
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