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Making Home Affordable Program Servicer Performance Report Through April 2010 Report Highlights Inside: Almost 300,000 Borrowers Granted Permanent Modifications, An Increase of 68,000 Administration Housing Initiatives 2 Economic Indicators 3 HAMP Program Snapshot 4 Characteristics of Permanent Modifications 5 Servicer Activity 6 Borrower Outreach 7 Waterfall of HAMP‐Eligible Borrowers 7 HAMP Activity by State 8 HAMP Activity by Metropolitan Area 9 Modifications by Investor Type 9 • Borrowers in permanent modifications are experiencing a median payment reduction of 36%, more than $500 per month. • Over 68,000 trial modifications converted to permanent modifications in April, an increase of almost 13% from March. Servicers Begin to Require Upfront Documentation • In order to comply with Treasury guidelines that take effect on June 1, in March 2010, servicers began collecting upfront documentation from borrowers prior to initiating new trial modifications. • Treasury is monitoring servicer performance closely to ensure that borrower demand is met and that servicers are reviewing modification requests in a timely manner. Servicers Provide Resolutions to Borrowers Who Entered Trials Before January 1, 2010 • Common causes of cancellations include missed trial payments and incomplete or unverifiable documentation. New This Month: Conversion Rates By Servicer • Servicers show wide variation in conversion rates as measured against trials eligible to convert. • Servicers who started trials with verified documents generally posted higher conversion rates than servicers who allowed borrowers to enter trials with stated income. With recent Treasury guidance, all servicers are now verifying borrower documents before trial start. • Using stated income upon trial starts, the four largest participating servicers have conversion rates below 30%. New This Month: Aged Trial Modifications by Servicer • Servicers show wide variation in completing timely decisions on trial modifications. List of Non‐GSE Participants 10 HAMP Is One Part of the Administration Initiatives to Promote Housing and Financial Stability (see Page 2) 1 Making Home Affordable Program Servicer Performance Report Through April 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: • Homebuyer credit to help hundreds of thousands of American families buy new homes. • Low-Income Housing Tax Credit (LIHTC) programs to support affordable rental housing, with total funding of $5 billion. 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 1.2 million homeowners have started trial modifications and almost 1.5 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 $3.1 billion in monthly mortgage payments in aggregate to date. 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 billion over the past year. Neighborhood Stabilization and Community Development Programs: • Over $5 billion in Recovery Act support for the NSP to help stabilize neighborhoods. • $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 April 2010 Mortgage Rates 14 12 Conventional 30‐ year Fixed Rate 10 Months Percent 20 18 16 14 12 10 8 6 4 2 0 Housing Inventory 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. 2002 Home Prices 1999 2008 Source: National Association of Realtors. 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 2005 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 April 2010 HAMP Activity: All Servicers HAMP Trials Started (Cumulative) Total Eligible Delinquent Loans1 3,275,249 Permanent Modifications Eligible Delinquent Borrowers2 1,702,134 Trial Plan Offers Extended3 1,487,594 All Trials Started 1,214,085 939,995 824,246 800,000 711,738 600,000 553,568 418,730 273,768 155,097 200,000 47,160 Trial Modifications Canceled 277,640 Active Trials 637,353 All Permanent Modifications Started 299,092 Active Permanent Modifications 1,200,000 400,000 Trials Reported Since March 2010 Report4 Permanent Modifications Canceled5 1,214,085 1,177,064 1,114,298 1,031,195 1,000,000 HAMP Eligibility Trial Modifications 1,400,000 54,722 0 May and Prior June July Aug Sep Oct Nov Jan 2010 Feb Mar Apr Note: Servicers may enter new trial modifications anytime before the loan converts to a permanent modification. Source: HAMP system of record. Permanent Modifications Started (Cumulative) 350,000 3,744 295,348 299,092 300,000 250,000 230,801 200,000 170,207 1 Estimated eligible Dec 60+ day delinquent loans as reported by servicers as of March 31, 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 on or before January 1, 2009. Estimated eligible 60+ day delinquent loans exclude: 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. Refer to the Waterfall of Eligible Borrowers on page 7 for further explanation. For servicers enrolling after February 1, 2010 that did not participate in the 60+ day delinquency survey, the delinquency count is from the servicer registration form. 2 Effective this month, the estimated eligible 60+ day delinquent borrowers are those in HAMP‐eligible loans, minus estimated exclusions of loans on vacant properties, loans with borrower debt‐to‐income ratio below 31%, loans that fail the NPV test, properties no longer owner‐occupied, manufactured housing loans with title/chattel issues that exclude them from HAMP, and loans where the investor pooling and service agreements preclude modification. Exclusions for DTI and NPV results are estimated using market analytics. Refer to the Waterfall of Eligible Borrowers on page 7 for further explanation. 3 As reported in the weekly servicer survey through April 29, 2010. 4 Servicers may enter new trial modifications anytime before the loan converts to a permanent modification. 5 Includes 81 loans paid off. Source: HAMP system of record (except where noted). 150,000 117,302 100,000 66,938 50,000 4,742 15,649 31,424 0 Sep and Earlier Oct Source: HAMP system of record. Nov Dec Jan Feb Mar Apr 4 Making Home Affordable Program Servicer Performance Report Through April 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 $3.1 billion to date. Loss of Income • The median savings for borrowers in permanent modifications is $516.09, or 36% of the median beforemodification payment. 1 60.4% Excessive Obligation 10.2% Permanent Modifications by Modification Step Interest Rate Reduction 100% Term Extension1 53.4% Principal Forbearance 28.6% Illness of Principal Borrower 2.8% 0% 1 The calculation for term extension has been corrected. 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 20% 31.0% ‐14.0 pct pts 80.2% 64.3% ‐14.5 pct pts $1,427.80 $836.82 ‐$516.09 60% 80% 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% of permanent modifications reported as Other. Loan Status Upon Entering Trial Median Decrease 44.9% 40% 1 At Risk of Default at Trial Start: 22.9% In Default at Trial Start: 77.1% 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. Note: For all trial modifications started. “At Risk of Default” includes borrowers up to 59 days delinquent at trial entry as well as those in imminent default. “In Default” refers to borrowers 60 or more days late at trial entry. 5 Making Home Affordable Program Servicer Performance Report Through April 2010 Conversion Rate1 HAMP Modification Activity by Servicer 100% Estimated Eligible 60+ Day Delinquent Borrowers1 Trial Plan Offers Extended2 All HAMP Trials Started3 Active Trial Modifications3 Permanent Modifications3 American Home Mortgage Servicing Inc 52,247 19,911 16,530 9,392 6,971 Aurora Loan Services, LLC 41,125 47,970 41,956 11,269 11,069 Servicer Bank of America, NA4 477,509 402,398 302,981 214,562 56,398 6,196 3,216 2,495 850 1,614 CitiMortgage, Inc. 152,357 153,389 144,176 54,947 28,556 GMAC Mortgage, Inc. 23,960 53,160 43,011 13,950 20,471 7,341 7,031 5,763 3,279 1,134 HomEq Servicing 16,872 5,505 4,355 1,889 2,282 J.P. Morgan Chase Bank, NA5 246,185 256,423 189,014 118,997 39,507 Litton Loan Servicing LP 54,888 36,671 30,224 17,852 6,146 Nationstar Mortgage LLC 22,687 24,446 20,599 7,318 6,933 Ocwen Financial Corp. Inc. 27,852 23,325 19,014 5,497 12,119 OneWest Bank 57,459 58,863 41,375 27,347 9,612 PNC Mortgage6 21,016 21,761 17,782 8,412 980 Saxon Mortgage Services, Inc. 36,658 44,505 39,701 12,946 10,568 Select Portfolio Servicing 21,178 60,716 36,940 9,784 12,903 US Bank NA 19,554 12,381 9,581 3,559 4,648 Carrington Mortgage Services LLC Green Tree Servicing LLC Wachovia Mortgage, FSB7 30,232 8,969 6,295 6,243 43 Wells Fargo Bank, NA8 174,995 233,284 171,704 75,322 36,094 Other SPA servicers9 17,515 13,670 11,216 5,996 4,131 Other GSE Servicers10 194,308 NA 59,373 27,942 23,169 1,702,134 1,487,594 1,214,085 637,353 295,348 Total 1 Estimated eligible 60+ day delinquent borrowers as reported by servicers as of March 31, 2010, include those in 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 borrowers excludes: Those in FHA and VA loans. Those in loans that are current or less than 60 days delinquent, which may be eligible for HAMP if a borrower is in imminent default. Those borrowers with debt-to-income ratios less than 31% or a negative NPV test, Owners of vacant properties or properties otherwise excluded (see footnotes of page 7 for further explanation). Exclusions for DTI and NPV are estimated using market analytics. For servicers enrolling after February 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 29, 2010. 3 Active trial and permanent modifications as reported into the HAMP system of record by servicers. 4 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. 5 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation. 6 Formerly National City Bank. 7 Wachovia Mortgage, FSB consists of Pick-a-Payment loans. 8 Wells Fargo Bank, NA includes a portion of the loans previously included in Wachovia Mortgage, FSB. 9 Other SPA servicers are entities with less than 5,000 estimated eligible 60+ day delinquent borrowers that have signed participation agreements with Treasury and Fannie Mae. A full list of participating servicers is in the Appendix. 10 Includes servicers of loans owned or guaranteed by Fannie Mae and Freddie Mac. Trial Evaluation : Verified Income Stated Income 83% 83% 74% 75% 59% 55% 54% 48% 47% 50% 43% 40% 30% 25% 29% 29% 28% 26% 25% 25% 22% 21% 6% 6% 0% 1 As measured against trials eligible to convert – those three months in trial, or four months if the borrower was in imminent default. * Other SPA and Other GSE servicers represent a mix of verified and stated income trial starts. Per program guidelines, all servicers will use verified income before starting trial modifications by June 1. Aged Trials1 as Share of Active Trials 80% 76% 72% 60% 58% 48% 46% 42% 40% 40% 35% 32% 20% 31% 29% 26% 26% 25% 21% 20% 18% 15% 13% 4% 0% 1 Active trials initiated at least six months ago. Note: Excludes Wachovia Mortgage, FSB at 0%. 6 Making Home Affordable Program Servicer Performance Report Through April 2010 Borrower Engagement Waterfall of HAMP-Eligible Borrowers Program to date, Treasury and partners have hosted 32 events across the country connecting more than 35,000 homeowners with mortgage servicers and housing counselors. 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. Selected Outreach Measures Servicer Solicitation of Borrowers (cumulative since program inception)1 7 4,246,224 6.0 6 6,588,873 Page views on MHA.gov (cumulative) 80,134,319 Percentage to Goal of 3-4 Million Modification Offers by 20122 37-50% 4.2 5 Loans (Millions) Page views on MHA.gov (April 2010) 5.0 3.4 HAMPEligible 60+ Day Delinquent Loans (GSE and SPA Servicers) 4 3.3 2.5 3 2.1 2 1.7 HAMP Estimated Eligible 60+ Day Delinquent Borrowers 1.7 = Estimate 1 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. 0 1st Lien, 60+ Days Delinquent Call Center Performance Total Number of Calls Taken at 1-888995-HOPE Borrowers Receiving Free Housing Counseling Cumulative April 1,060,301 112,781 545,318 53,001 Less: FHA Less: Non‐ Participating or VA HAMP Servicer Less: Non‐ Owner‐ Occupied at Origination Less: Jumbo Non‐ Conforming Loans and Loans Originated After 1/1/2009 Less: DTI Less Than 31% Less: Negative NPV Less: Vacant Properties and Other Exclusions* 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 March 31, 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. 7 Making Home Affordable Program Servicer Performance Report Through April 2010 HAMP Activity by State State Active Permanent Trials Modifications Total % of Total State Modification Activity by State Active Permanent Trials Modifications Total % of Total AK 355 135 490 0.1% MT 867 330 1,197 0.1% AL 4,427 1,843 6,270 0.7% NC 13,160 5,933 19,093 2.0% AR 1,813 758 2,571 0.3% ND 153 59 212 0.0% AZ 29,952 16,120 46,072 4.9% NE 889 436 1,325 0.1% CA 135,499 62,883 198,382 21.3% NH 2,671 1,476 4,147 0.4% CO 8,932 4,355 13,287 1.4% NJ 21,143 9,821 30,964 3.3% CT 8,092 3,918 12,010 1.3% NM 2,371 969 3,340 0.4% DC 1,269 470 1,739 0.2% NV 16,834 8,229 25,063 2.7% 3,051 DE 2,026 1,025 0.3% NY 30,800 11,590 42,390 4.5% FL 78,356 36,130 114,486 12.3% OH 13,631 6,580 20,211 2.2% GA 25,385 11,082 36,467 OK 2,028 714 2,742 0.3% 3.9% HI 2,371 1,076 3,447 0.4% OR 7,097 3,419 10,516 1.1% IA 1,945 791 2,736 0.3% PA 14,350 6,269 20,619 2.2% ID 2,520 1,198 3,718 0.4% RI 2,891 1,582 4,473 0.5% IL 33,393 15,434 48,827 5.2% SC 6,564 2,971 9,535 1.0% IN 6,620 3,061 9,681 1.0% SD 300 109 409 0.0% KS 1,839 777 2,616 0.3% TN 7,063 3,288 10,351 1.1% KY 2,658 1,201 3,859 0.4% TX 22,671 7,214 29,885 3.2% LA 3,903 1,438 5,341 0.6% UT 5,540 2,737 8,277 0.9% MA 14,304 7,437 21,741 2.3% VA 15,671 7,836 23,507 2.5% MD 20,746 10,204 30,950 3.3% VT 455 248 703 0.1% ME 1,633 902 2,535 0.3% WA 12,491 5,959 18,450 2.0% MI 20,422 10,203 30,625 3.3% WI 6,081 3,064 9,145 1.0% MN 10,555 6,162 16,717 1.8% WV 1,010 498 1,508 0.2% MO 7,626 3,431 11,057 1.2% WY 335 164 499 0.1% MS 2,421 1,176 3,597 0.4% Other* 1,225 643 1,868 0.2% * Includes Guam, Puerto Rico and the U.S. Virgin Islands. 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 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 April 2010 15 Metropolitan Areas With Highest HAMP Activity Metropolitan Statistical Area Los Angeles-Long Beach-Santa Ana, CA New York-Northern New JerseyLong Island, NY-NJ-PA Chicago-Naperville-Joliet, IL-IN-WI Riverside-San Bernardino-Ontario, CA Miami-Fort Lauderdale-Pompano Beach, FL Active Trials 40,573 Total Permanent HAMP Modifications Activity 17,185 57,758 % of All HAMP Activity 6.2% 40,425 16,672 57,097 6.1% 32,178 14,890 47,068 5.0% 29,709 30,923 15,560 13,059 45,269 43,982 Modifications by Investor Type (Large Servicers) 4.9% 4.7% Phoenix-Mesa-Scottsdale, AZ 24,496 13,330 37,826 4.1% Washington-Arlington-Alexandria, DC-VA-MD-WV 22,081 10,713 32,794 3.5% Atlanta-Sandy Springs-Marietta, GA 20,509 9,036 29,545 3.2% Las Vegas-Paradise, NV 14,099 6,749 20,848 2.2% Servicer Bank of America, JP Morgan Chase 12,946 6,048 18,994 2.0% Orlando-Kissimmee, FL 12,406 6,022 18,428 2.0% Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Boston-Cambridge-Quincy, MA-NH Sacramento-Arden-ArcadeRoseville, CA Tampa-St. Petersburg-Clearwater, FL 10,958 5,013 15,971 1.7% 10,073 5,297 15,370 1.6% 9,624 5,019 14,643 1.6% 9,773 4,678 14,451 1.5% NA2 Wells Fargo Bank, NA 3 Private Portfolio Total 176,755 80,887 13,318 270,960 73,309 62,983 22,212 158,504 77,803 28,417 5,196 111,416 55,127 5,425 22,951 83,503 OneWest Bank 18,673 15,679 2,607 36,959 GMAC Mortgage, Inc. 19,938 14,483 0 34,421 Litton Loan Servicing LP 1,871 22,127 0 23,998 Saxon Mortgage Services Inc. 1,929 20,399 1,186 23,514 533 19,622 2,532 22,687 Aurora Loan Services, LLC 12,891 9,191 256 22,338 Ocwen Financial Corporation, Inc. American Home Mortgage Servicing Inc Nationstar Mortgage LLC 5,147 12,397 72 17,616 1,087 15,276 0 16,363 10,351 3,889 11 14,251 Select Portfolio Servicing Mortgage4 8,354 230 808 9,392 5,637 21 2,549 8,207 Wachovia Mortgage, FSB5 123 309 5,854 6,286 Green Tree Servicing LLC 4,146 257 10 4,413 25 4,026 120 4,171 US Bank NA HomEq Servicing Carrington Mortgage Services LLC A complete list of HAMP activity for all MSAs is available at http://makinghomeaffordable.gov/docs/MSA%20Data%20April.pdf GSE CitiMortgage, Inc. PNC Detroit-Warren-Livonia, MI NA1 0 2,464 0 2,464 Remainder of HAMP Servicers 53,183 4,147 3,908 61,238 Total 526,882 322,229 83,590 932,701 1 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loans Services and Wilshire Credit Corporation. 2 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation. 3 Wells Fargo Bank, NA includes a portion of the loans previously included in Wachovia Mortgage, FSB. 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 April 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 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 Hartford Savings Bank Hillsdale County National Bank 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 Metropolitan National Bank Midwest Bank & Trust Co. 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 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 Wealthbridge Mortgage Corp. 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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