The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Making Home Affordable Program Performance Report Through February 2012 Report Highlights Inside: Over 1.1 Million Homeowner Assistance Actions Granted through Making Home Affordable SUMMARY RESULTS: • Over 970,000 homeowners have been granted HAMP first lien permanent modifications and have saved an estimated $11.6 billion in monthly mortgage payments. Homeowners in active first lien permanent modifications are currently saving a median of approximately $534 per month – more than one-third of the median before-modification payment. • Over 70,000 second lien modifications have been completed through the Second Lien Modification Program (2MP), and more than 35,000 homeowners have received a short sale or deed-in-lieu of foreclosure through the Home Affordable Foreclosure Alternative. • 85% of eligible homeowners entering a HAMP trial modification since June 1, 2010 have received a permanent modification, with an average trial period of 3.5 months. First Lien Modification Activity Activity for PRA, Treasury FHA-HAMP, HAFA and UP/Modifications by Investor Type Second Lien Modification Program (2MP) Waterfall of Eligible Borrowers/ First Lien Modification Characteristics HAMP Activity by State HAMP Activity by MSA/ Homeowner Outreach Aged Trials Making Home Affordable Program Activity 2 3 4 5 6 7 8 9 SERVICER RESULTS: Inside: Additional Reporting on the Second Lien Modification Program (2MP) First Lien Modification Activity by 10 Servicer First Lien, PRA, 2MP, and HAFA 11 Activity by Servicer 12 Outreach to 60+ Delinquent Homeowners 13 Average Delinquency at Trial Start 14 Conversion Rate 15 Homeowner Experience Disposition of Homeowners Not in 16-17 HAMP Note: This report reflects program activity for the Making Home Affordable Program. For information and quarterly updates about the Hardest Hit Fund, please visit the website for the Hardest Hit Fund or the TARP Monthly Report to Congress. APPENDICES: Participants in MHA Programs • Homeowners in 2MP save a median of $161 per month on their second mortgage, in addition to the savings realized from the modification of their first mortgage under HAMP. • Over 50% of homeowners in 2MP reside in 3 states-California (36%), Florida (9%) and New York (6%) 18-19 Making Home Affordable Program Performance Report Through February 2012 Making Home Affordable Program Activity In total, the MHA program has completed over 1.1 million first and second lien permanent modifications, HAFA transactions, and UP forbearance plans. Program-to-Date Reported Since Prior Period 973,582 22,263 71,133 5,425 Program Purpose 35,766 4,340 • Home Affordable Modification Program (HAMP) FHA-HAMP and RD-HAMP Modifications Completed 5,785 625 Provides eligible borrowers the opportunity to lower their first lien mortgage payment to affordable and sustainable levels through a uniform loan modification process. UP Forbearance Plans Started (through Jan. 2012) 19,593 1,190 • Second Lien Modification Program (2MP) Cumulative MHA Activity1 1,105,859 33,843 Provides payment reducing modifications and extinguishments on second liens when there has been a first lien HAMP modification on the same property. • Home Affordable Foreclosure Alternatives (HAFA) Provides transition alternatives to foreclosure in the form of a short sale or deed-in-lieu of foreclosure. • FHA-HAMP and RD-HAMP modification programs Provides first lien modifications for distressed borrowers in loans guaranteed through the Federal Housing Administration and Rural Housing Service. • Unemployment Program (UP) Provides temporary forbearance of mortgage principal to enable unemployed borrowers to look for a new job without fear of foreclosure. • Principal Reduction Alternative (PRA) Provides principal forgiveness on eligible underwater loans that are modified under HAMP. 1,200 60 Cumulative (Left Axis) Monthly (Right Axis) 1,000 50 800 40 600 30 400 20 200 10 0 0 July Aug 2011 Sep Oct Nov Dec Jan Feb 2012 Monthly MHA Activity (000s) Cumulative MHA Activity (000s) HAMP Permanent Modifications Started 2MP Modifications Started HAFA Agreements Completed The Making Home Affordable Program was launched in March 2009 with the Home Affordable Modification Program (HAMP) which provides assistance to struggling homeowners by lowering monthly first lien mortgage payments to an affordable level. Additional programs were subsequently rolled out to expand the program reach including: Source: HAMP system of record for HAMP, 2MP, HAFA, FHA-HAMP, and RD-HAMP. UP participation is reported via servicer survey through Jan. 31, 2012. 1 Cumulative activity includes HAMP permanent modifications started, 2MP modifications started, HAFA transactions completed, FHA-HAMP and RD-HAMP permanent modifications started, and UP forbearance plans completed. This does not include trial modifications that have cancelled or not yet converted to permanent modification and HAFA agreements started but not yet completed. 2 Making Home Affordable: Summary Results Program Performance Report Through February 2012 HAMP (First Lien) Modifications HAMP (First Lien) Trials Started (As of Jan. 31, 2012) Trial Modifications Permanent Modifications 846,016 Trial Plan Offers Extended (Cumulative)3 1,990,394 All Trials Started 1,808,825 1,700 1,640 1,650 17,471 Trial Modifications Canceled (Cumulative)5 766,704 1,450 Active Trials 68,539 1,400 All Permanent Modifications Started 973,582 1,350 Permanent Modifications Reported Since January 2012 Report 22,263 Permanent Modifications Canceled (Cumulative)6 190,973 Active Permanent Modifications 782,609 1,500 1,710 1,731 1,764 1,781 1,809 50 1,580 1,545 1,550 Trials Reported Since January 2012 Report4 1,666 1,689 1,748 1,795 1,613 1,600 1,511 Jan 2011 Feb Mar Apr May June July Aug Sep Oct Nov Dec Jan 2012 Feb 0 Source: HAMP system of record. Servicers may enter new trial modifications into the HAMP system of record at any time. For example, 17,471 trials have entered the HAMP system of record since the prior report; 13,729 were trials with a first payment recorded in February 2012. HAMP Permanent Modifications Started (Cumulative) 1,100 eligible 60+ day delinquent loans as reported by servicers as of January 31, 2012, 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. 2 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, unemployed borrowers, manufactured housing loans with title/chattel issues that exclude them from HAMP, loans where the investor pooling and servicing agreements preclude modification, and trial and permanent modifications disqualified from HAMP. Exclusions for DTI and NPV results are estimated using market analytics. 3 As reported in the monthly servicer survey of large SPA servicers through February 29, 2012. 4 Servicers may enter new trial modifications into the HAMP system of record at anytime. 5 717,057 had trial start dates prior to June 1, 2010 when Treasury implemented a verified income requirement. 6 A permanent modification is canceled when the borrower has missed three consecutive monthly payments. Includes 3,346 loans paid off. Note: Unless specified, exhibits in this report refer to HAMP first lien modification activity. All Permanent Modifications Started (000s) 1 Estimated Eligible Delinquent Borrowers2 1,750 2,482,871 All Trials Started (000s) HAMP Eligibility Eligible Delinquent Loans1 Monthly Trial Starts (Right Axis) 1,800 Total 100 Cumulative Trial Starts (Left Axis) New Trials Started (000s) 1,850 HAMP is designed to lower monthly mortgage payments to help struggling homeowners stay in their homes and prevent avoidable foreclosure. 1,000 900 857 800 700 600 608 634 670 699 731 763 791 883 910 933 951 974 817 500 400 Jan 2011 Feb Mar Source: HAMP system of record. Apr May June July Aug Sep Oct Nov Dec Jan 2012 Feb 3 Making Home Affordable: Summary Results Program Performance Report Through February 2012 Principal Reduction Alternative (PRA) Activity The Principal Reduction Alternative (PRA) requires servicers of non-GSE loans to evaluate the benefit of principal reduction for mortgages with a loan-to-value ratio of 115% or greater when evaluating a homeowner for a HAMP first lien modification. While servicers are required to evaluate homeowners for PRA, they are not required to reduce principal as part of the modification. PRA may be a feature of a HAMP trial or permanent modification. All PRA Trial Modifications Started 72,481 Home Affordable Foreclosure Alternatives (HAFA) Activity PRA Trial Modifications Active 15,587 The Home Affordable Foreclosure Alternatives Program (HAFA) offers incentives for homeowners looking to exit their homes through a short sale or deed-in-lieu of foreclosure. HAFA has established important homeowner protections and an industry standard for streamlined transactions. In 21% of HAFA agreements started, the homeowner began a HAMP trial modification but later requested a HAFA agreement or was disqualified from HAMP. All PRA Permanent Modifications Started 51,732 All HAFA Agreements Started1 54,898 PRA Permanent Modifications Active 48,089 HAFA Agreements Active 9,903 Median Principal Amount Reduced for Active Permanent Modifications1 $68,523 HAFA Transactions Completed 35,766 Median Principal Amount Reduced for Active Permanent Modifications (%)2 31.4% 1Under 2 PRA the PRA program, principal is vested over a 3 year period. The amounts noted reflect the entire amount that may be forgiven. amount as a percentage of before-modification UPB, excluding capitalization. HAMP Modifications by Investor Type (Large Servicers) GSE Private Portfolio Total Active Modifications 1,279 26,993 0 28,272 Bank of America, NA1 80,634 61,833 10,508 152,975 CitiMortgage, Inc. 32,113 5,646 17,050 54,809 GMAC Mortgage, LLC 25,124 5,983 12,006 43,113 JPMorgan Chase NA2 64,170 57,144 24,950 146,264 Ocwen Loan Servicing, LLC 3 6,762 37,219 123 44,104 OneWest Bank 15,126 16,059 2,733 33,918 Saxon Mortgage Services, Inc. 1,396 9,969 1,966 13,331 519 16,358 2,613 19,490 Wells Fargo Bank, NA 4 53,028 15,834 47,760 116,622 Other HAMP Servicers 159,361 23,496 15,393 198,250 Total 439,512 276,534 135,102 851,148 Servicer American Home Mortgage Servicing Inc. Select Portfolio Servicing 1 Bank of America, NA includes all loans previously reported under BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. 2 JPMorgan Chase Bank, NA includes all loans previously reported under EMC Mortgage Corporation. 3 Ocwen Loan Servicing, LLC includes Litton Loan Servicing LP. 4 Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage, FSB. Note: Figures reflect active trials and active permanent modifications. Completed Transactions – Short Sale Completed Transactions – Deed-in-Lieu 34,829 937 1 Servicer agreement with homeowner for terms of potential short sale, which lasts at least 120 days; or agreement for a deed-in-lieu transaction. A short sale requires a third-party purchaser and cooperation of junior lienholders and mortgage insurers to complete the transaction. All HAFA Agreements Started include HAFA Agreements Active, HAFA Transactions Completed, and HAFA Transactions Canceled. Unemployment Program (UP) Activity The Treasury MHA Unemployment Program (UP) provides a temporary forbearance to homeowners who are unemployed. Under Treasury guidelines, unemployed homeowners must be considered for a minimum of 12 months’ forbearance. All UP Forbearance Plans Started (through Jan. 2012) 19,593 UP Forbearance Plans With Some Payment Required 16,907 UP Forbearance Plans With No Payment Required 2,686 Note: Data is as reported by servicers via survey for UP participation through Jan. 31, 2012. Treasury FHA-HAMP Modification Activity The Treasury FHA-HAMP Program provides assistance to eligible homeowners with FHAinsured mortgages. All Treasury FHA-HAMP Trial Modifications Started 8,915 All Treasury FHA-HAMP Permanent Modifications Started 5,784 See Appendix A2 for servicer participants in additional Making Home Affordable programs. 4 Making Home Affordable: Summary Results Program Performance Report Through February 2012 Second Lien Modification Program (2MP) The Second Lien Modification Program (2MP) provides assistance to homeowners in a first lien permanent modification who have an eligible second lien with a participating HAMP servicer. This assistance can result in a modification of the second lien or a full or partial extinguishment of the second lien. 2MP requires that a participating servicer offer a second lien modification if that borrower also has a permanent and active first lien HAMP modification, and that the second lien has an unpaid balance of $5,000 or more and a pre-modification scheduled monthly payment of at least $100. Estimated Eligible 2nd Liens All Second Lien Modifications Started (Cumulative)1 71,133 Second Lien Modifications Involving Full Lien Extinguishments 15,631 Second Lien Modifications Disqualified2 2,094 Active Second Lien Modifications3 53,408 80 All Modifications Started (000s) • Based on survey data as reported by servicers through February 29, 2012, 63% of eligible second liens have received a 2MP modification, with many of the remaining second liens either still in the evaluation process by the servicers, awaiting homeowner response to the 2MP offer, or awaiting conversion of the first lien HAMP trial to permanent modification. • Important factors affecting the size of the population of second liens eligible for 2MP modifications include: Servicer participation in 2MP is voluntary; current 2MP servicers represent approximately 70% of the homeowners with active, permanent HAMP first lien modifications4. Under 2MP, participating servicers are notified when a match is found between one of their second liens and a HAMP first lien modification. Survey data indicates that approximately 315,000 HAMP modifications have been matched with a second lien5. Of these matched second liens, a number are found to be ineligible for a 2MP modification. The most common reasons for ineligibility are: • Cancellation or failure of a trial or permanent first lien HAMP modification, • Extinguishment of the second lien prior to evaluation for 2MP, • Failure of a 2MP trial modification, and • Some homeowners with eligible second liens decline to participate in 2MP. Cumulative 2MP Modification Starts (Left Axis)1 70 Monthly 2MP Modification Starts (Right Axis)1 60 47 50 40 30 22 20 10 1 1 1 2 4 6 26 30 36 51 55 57 61 66 69 71 40 10 Eligible 2nd Liens5 2MP Modifications Started Bank of America, NA 39,313 24,462 CitiMortgage, Inc 15,668 9,507 GMAC Mortgage, LLC 5,148 3,953 JPMorgan Chase Bank, NA 27,425 17,108 Median Amount of Full Extinguishment $61,553 OneWest Bank 3,188 2,027 $6,936 Wells Fargo Bank, NA 16,346 11,688 Median Amount of Partial Extinguishment for Active 2MP Modifications Other Servicers 6,686 2,388 Median Payment Reduction for Active Modifications $161 113,774 71,133 2MP Participating Servicer Name4 Total 1 Includes second lien modifications reported into HAMP system of record through the end of cycle for February 2012 data, though the effective date may occur in March. Number of modifications is net of cancellations, which are primarily due to servicer data corrections. 2 Includes 109 loans paid off. 3 Includes 2,322 loans in active non-payment status whereby the 1MP has disqualified from HAMP. As a result, the servicer is no longer required to report payment activity on the 2MP modification 4 Only six of the ten largest SPA servicers participate in 2MP. See Appendix A for servicer participants in 2MP and other programs. 5 Data is as reported by servicers via survey as of February 29, 2012. 0 20 18 16 14 12 10 8 6 4 2 0 New Modifications Started (000s) 2MP Activity Modification Characteristics Top three States by Activity, Percent of Total Activity: • California 36% • Florida 9% • New York 6% 5 Making Home Affordable: Summary Results Program Performance Report Through February 2012 Homeowner Benefits and First Lien Modification Characteristics Waterfall of Estimated Eligible Homeowners For the First Lien Modification Program • Aggregate savings to homeowners who received HAMP first lien permanent modifications are estimated to total approximately $11.6 billion, program to date, compared with unmodified mortgage obligations. Not all 60+ day delinquent loans are currently eligible for HAMP. Other characteristics may preclude homeowner eligibility. Based on the estimates, of the 4.4 million homeowners who are currently 60+ days delinquent, about 800,000 homeowners are eligible for HAMP. As this represents a point-in-time snapshot of the delinquency population and estimated HAMP eligibility, we expect that as homeowners become seriously delinquent between now and the end of 2013, some of those homeowners will also be eligible for HAMP. 5 4.5 4 4.1 Loans (Millions) 3.5 3.3 3 • Of trial modifications started, 80% of homeowners were at least 60 days delinquent at trial start. The rest were up to 59 days delinquent or current and in imminent default. HAMP-Eligible 60+ Day Delinquent Loans (GSE and SPA Servicers) 4.4 2.5 2 1.5 1.6 1 • The primary hardship reasons for homeowners in active permanent modifications are: HAMP Estimated Eligible 60+ Day Delinquent Borrowers 2.5 2.8 2.5 • The median monthly savings for borrowers in active permanent first lien modifications is $533.74, or 37% of the median monthly payment before modification. • 66.5% experienced loss of income (curtailment of income or unemployment) • 11.7% reported excessive obligation • 3.3% reported an illness of the principal borrower • Active permanent modifications feature the following modification steps: 1.5 0.8 • 97.8% feature interest rate reductions • 59.3% offer term extension • 30.7% include principal forbearance 0.8 0.5 0 1st Lien, 60+ Days Delinquent Less: NonParticipating HAMP Servicer Less: FHA or VA Less: NonOwnerOccupied at Origination Less: Jumbo HAMPNonEligible Conforming Loans Loans and Loans Originated After 1/1/2009 Less: DTI Less Than 31% Less: Negative NPV Less: Vacant Properties And Other Exclusions** Select Median Characteristics of Active Permanent Modifications Estimated HAMPEligible Borrowers ** Other exclusions include: no longer owner-occupied; unemployed borrowers; investor’s pooling and servicing agreement precludes modification; manufactured housing loans with titling/chattel issues that exclude them from HAMP; and trial and permanent modifications disqualified from HAMP. Note: Chart refers only to loans eligible for the Tier 1 first lien modification program. Sources: Fannie Mae; monthly survey of participating servicers for January 31, 2012. Total 60+ day delinquency figure derived from 4th Quarter 2011 MBA National Delinquency Survey. Excluded loans are as reported by large servicers by survey who have signed a servicer participation agreement for HAMP. Before Modification After Modification Median Decrease Front-End Debt-to-Income Ratio1 45.4% 31.0% -14.5 pct pts Back-End Debt-to-Income Ratio2 76.7% 59.3% -14.8 pct pts $1,430.82 $827.00 -$533.74 Loan Characteristic Median Monthly Housing Payment3 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. 6 Making Home Affordable: Summary Results Program Performance Report Through February 2012 HAMP Activity by State State % of U.S. State HAMP Active Permanent Trials Modifications Total1 Activity State Modification Activity by State % of U.S. Active Permanent State HAMP Trials Modifications Total1 Activity AK 37 340 377 0.0% MT 81 894 975 0.1% AL 447 4,300 4,747 0.6% NC 1,299 13,856 15,155 1.8% AR 155 1,685 1,840 0.2% ND 10 127 137 0.0% AZ 2,020 33,176 35,196 4.1% NE 104 1,022 1,126 0.1% CA 15,990 197,852 213,842 25.1% NH 301 3,527 3,828 0.4% CO 882 10,834 11,716 1.4% NJ 2,440 25,027 27,467 3.2% CT 915 9,697 10,612 1.2% NM 237 2,544 2,781 0.3% DC 102 1,346 1,448 0.2% NV 1,272 19,036 20,308 2.4% DE 210 2,326 2,536 0.3% NY 4,222 37,161 41,383 4.9% FL 8,871 94,093 102,964 12.1% OH 1,608 16,625 18,233 2.1% GA 2,668 28,086 30,754 3.6% OK 203 HI 234 2,977 3,211 0.4% OR 722 IA 164 1,892 2,056 0.2% PA 1,443 ID 232 3,017 3,249 0.4% RI 268 IL 3,462 41,363 44,825 5.3% SC IN 686 7,279 7,965 0.9% SD KS 166 1,819 1,985 0.2% TN 791 KY 244 2,864 3,108 0.4% TX 2,295 LA 456 4,293 4,749 0.6% UT 500 1,768 1,971 0.2% 8,558 9,280 1.1% 15,803 17,246 2.0% 3,934 4,202 0.5% 644 7,143 7,787 0.9% 27 277 304 0.0% 7,821 8,612 1.0% 20,408 22,703 2.7% 7,327 7,827 0.9% MA 1,781 18,889 20,670 2.4% VA 1,458 18,544 20,002 2.4% MD 2,159 24,831 26,990 3.2% VT 63 668 731 0.1% ME 199 2,178 2,377 0.3% WA 1,573 15,943 17,516 2.1% MI 1,803 24,711 26,514 3.1% WI 692 7,390 8,082 0.9% MN 915 12,848 13,763 1.6% WV 87 1,075 1,162 0.1% MO 724 7,798 8,522 1.0% WY 31 385 416 0.0% MS 267 2,749 3,016 0.4% Other2 379 2,503 2,882 0.3% 1 Total reflects active trials and active permanent modifications. 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 Source: 4th Quarter 2011 National Delinquency Survey, Mortgage Bankers Association. 60+ Day Delinquency Rate 5.0% and lower 5.01% - 10.0% 10.01% - 15.0% 15.01% - 20.0% 20.01% and higher 7 Making Home Affordable: Summary Results Program Performance Report Through February 2012 Homeowner’s HOPETM Hotline Volume 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 Miami-Fort Lauderdale-Pompano Beach, FL Chicago-Joliet-Naperville, IL-IN-WI MSA Riverside-San Bernardino-Ontario, CA Washington-Arlington-Alexandria, DC-VA-MD-WV Total MSA % of U.S. HAMP HAMP Activity Activity Active Trials Permanent Modifications 5,377 60,620 65,997 7.8% 5,278 49,949 55,227 6.5% 4,080 39,902 43,982 5.2% 3,361 40,170 43,531 5.1% 40,664 43,431 5.1% 1,974 26,532 28,506 3.3% 1,465 26,807 28,272 3.3% Atlanta-Sandy Springs-Marietta, GA 2,101 22,743 24,844 2.9% San Francisco-Oakland-Fremont, CA 1,600 16,680 18,280 2.1% Las Vegas-Paradise, NV 1,069 15,621 16,690 2.0% Detroit-Warren-Livonia, MI 1,078 14,991 16,069 1.9% 1,143 14,397 15,540 1.8% 1,159 14,291 15,450 1.8% 1,258 13,631 14,889 1.7% 1,010 13,392 14,402 1.7% San Diego-Carlsbad-San Marcos, CA Orlando-Kissimmee-Sanford, FL MSA Boston-Cambridge-Quincy, MA-NH Sacramento-Arden-Arcade-Roseville, CA February Total Number of Calls Taken at 1-888-995-HOPE 2,895,841 80,277 Borrowers Referred for Free Housing Counseling Assistance Through the Homeowner’s HOPETM Hotline 1,380,139 39,136 Source: Homeowner’s HOPETM Hotline. Numbers reflect calls that resulted in customer records. 2,767 Phoenix-Mesa-Glendale, AZ MSA Program to Date Selected Homeowner Outreach Measures Homeowner Outreach Events Hosted Nationally by Treasury and Partners (cumulative) Homeowners Attending Treasury-Sponsored Events (cumulative) 65 62,234 Servicer Solicitation of Borrowers (cumulative)1 8,305,513 Page views on MakingHomeAffordable.gov (February 2012) 3,219,627 Page views on MakingHomeAffordable.gov (cumulative) 140,626,537 1 Source: Survey data provided by SPA servicers. Servicers are encouraged by HAMP to solicit information from borrowers 60+ days delinquent, regardless of eligibility for a HAMP modification. Note: Total reflects active trials and active permanent modifications. A complete list of HAMP activity for all metropolitan areas is available at http://www.treasury.gov/initiatives/financial-stability/results/MHA-Reports/ 8 Making Home Affordable: Summary Results Program Performance Report Through February 2012 Aged Trials1 200,000 190,412 The number of active trials lasting 6 months or longer is approximately 15,800. 165,543 Program guidance directs servicers to cancel or convert trial modifications after 3 or 4 monthly payments, depending on circumstances. 150,000 117,574 94,269 100,000 76,502 69,418 49,229 50,000 39,753 36,184 32,017 27,345 26,362 25,390 23,552 23,014 23,061 19,793 18,359 20,332 21,002 21,211 15,815 0 May 2010 June July Aug Sept Oct Nov Dec Jan 2011 Feb March April May June July Aug Sep Oct Nov Dec Jan 2012 Feb Trials Lasting 6 Months or Longer At End of Month 1 Active trials initiated at least six months ago. See page 10 for number of aged trials by servicer. These figures include trial modifications that have been converted to permanent modifications or cancelled by the servicer, but not reported as such to the HAMP system of record. 9 Making Home Affordable: Servicer Results Program Performance Report Through February 2012 HAMP Modification Activity by Servicer As of Jan. 31, 2012 Cumulative As of Feb. 29, 2012 Estimated Eligible 60+ Day Delinquent Borrowers1 Trial Plan Offers Extended2 All HAMP Trials Started3 All HAMP Permanent Modifications Started3 Active Trial Modifications3 Active Trial Modifications Lasting 6 Months or Longer4 Active Permanent Modifications3 American Home Mortgage Servicing, Inc 34,706 43,784 39,952 32,713 2,379 229 25,893 Bank of America, NA5 158,987 534,378 382,239 179,973 10,805 7,047 142,170 CitiMortgage, Inc. 51,517 201,634 136,932 61,305 3,864 1,570 50,945 GMAC Mortgage, LLC 22,018 84,637 68,834 51,241 2,698 22 40,415 JPMorgan Chase Bank, NA6 129,667 354,954 311,627 160,353 17,386 2,623 128,878 Ocwen Loan Servicing, LLC7 62,410 96,386 91,443 54,842 5,216 1,301 38,888 OneWest Bank 30,631 77,228 59,906 36,241 3,176 133 30,742 Saxon Mortgage Services, Inc. 11,906 44,828 40,308 17,361 582 65 12,749 Select Portfolio Servicing 8,929 70,318 44,159 24,785 550 49 18,940 Servicer NA8 105,563 293,077 256,597 129,237 9,848 1,246 106,774 Other SPA servicers9 68,803 189,170 192,378 108,957 5,402 734 88,484 Other GSE Servicers10 160,879 NA 184,450 116,574 6,633 796 97,731 Total 846,016 1,990,394 1,808,825 973,582 68,539 15,815 782,609 Wells Fargo Bank, 1 Estimated eligible 60+ day delinquent borrowers as reported by servicers as of Jan. 31, 2012, 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 on or before January 1, 2009. Estimated eligible 60+ day delinquent borrowers exclude: 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. HAMP Trials and Permanent Modifications disqualified from HAMP. unemployed borrowers. Exclusions for DTI and NPV are estimated using market analytics. As reported in the monthly servicer survey of large SPA servicers through Feb. 29, 2012. 3 As reported into the HAMP system of record by servicers. Excludes FHAHAMP modifications. Subject to adjustment based on servicer reconciliation of historic loan files. Totals reflect impact of servicing transfers. Servicers may enter new trial modifications into the HAMP system of record at any time. 4 These figures include trial modifications that have been converted to permanent modifications or cancelled by the servicer, but not reported as such to the HAMP system of record 5 Bank of America, NA includes all loans previously reported under BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. 6 JPMorgan Chase Bank, NA includes all loans previously reported under EMC Mortgage Corporation. 7 Ocwen Loan Servicing, LLC includes Litton Loan Servicing LP. 2 8 Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage, FSB. 9 Other SPA servicers are entities excluding the 10 largest servicers that have signed participation agreements with Treasury and Fannie Mae. A full list of participating servicers is in Appendix A1. 10 Includes servicers of loans owned or guaranteed by Fannie Mae and Freddie Mac. Includes GSE loans previously transferred from SPA servicers. 10 Making Home Affordable: Servicer Results Program Performance Report Through February 2012 Making Home Affordable Programs by Servicer1 Trials Started3 Permanent Modifications Started3 Trials Started3 Permanent Modifications Started3 Second Lien Modification (2MP) Second Lien Modifications Started4 American Home Mortgage Servicing, Inc. 39,952 32,713 0 0 Bank of America, NA6 382,239 179,973 14,931 CitiMortgage, Inc. 136,932 61,305 2,262 Principal Reduction Alternative (PRA)2 HAMP First Lien Modifications Servicer Home Affordable Foreclosure Alternatives (HAFA) Agreements Started5 Agreements Completed N/A 594 291 12,239 24,462 9,867 8,684 1,696 9,507 169 133 GMAC Mortgage, LLC 68,834 51,241 1,420 736 3,953 2,146 1,470 JPMorgan Chase Bank, NA7 311,627 160,353 17,349 10,888 17,108 21,737 12,748 Ocwen Loan Servicing, LLC8 91,443 54,842 13,610 8,836 N/A 1,784 925 OneWest Bank 59,906 36,241 3,914 2,669 2,027 1,621 798 Saxon Mortgage Services, Inc. 40,308 17,361 576 514 N/A 397 111 Select Portfolio Servicing 44,159 24,785 135 106 N/A 2,089 1,386 Wells Fargo Bank, NA9 256,597 129,237 16,880 12,854 11,688 11,711 7,087 Other Servicers 376,828 225,531 1,404 1,194 2,388 2,783 2,133 1,808,825 973,582 72,481 51,732 71,133 54,898 35,766 Total 1 MHA Program Effective Dates: HAMP First Lien: April 6, 2009 PRA: October 1, 2010 2MP: August 13, 2009 HAFA: April 5, 2010 2 While both GSE and non-GSE loans are eligible for HAMP, at the present time due to GSE policy, servicers can only offer PRA on non-GSE modifications under HAMP. Servicer volume can vary based on the investor composition of the servicer’s portfolio and respective policy with regards to PRA. See page 4 for additional servicer detail on HAMP activity by investor type. 3 As reported into the HAMP system of record by servicers. Excludes FHA-HAMP modifications. Subject to adjustment based on servicer reconciliation of historic loan files. Totals reflect impact of servicing transfers. Servicers may enter new trial modifications into the HAMP system of record at any time. 4 See Appendix A1 and A2 for servicer participants in Making Home Affordable programs. N/A – Servicer does not participate in the program. Number of second lien modifications started is net of cancellations, which are primarily due to servicer data corrections. 5 Servicer agreement with homeowner for terms of potential short sale, which lasts at least 120 days; or agreement for a deed-in-lieu transaction. A short sale requires a thirdparty purchaser and cooperation of junior lienholders and mortgage insurers to complete the transaction. 6 Bank of America, NA includes all loans previously reported under BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. 7 JPMorgan Chase Bank, NA includes all loans previously reported under EMC Mortgage Corporation. 8 Ocwen Loan Servicing, LLC includes Litton Loan Servicing LP. 9 Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage, FSB. 11 Making Home Affordable: Servicer Results Program Performance Report Through February 2012 Servicer Outreach to 60+ Day Delinquent Homeowners: Cumulative Servicer Results, Feb. 2011 – Jan. 2012 Per program guidance, servicers are directed to establish Right Party Contact (RPC) with homeowners of delinquent HAMP eligible loans1 and then evaluate the homeowners' eligibility for HAMP. There is a range of performance results across top program servicers with respect to making RPC and completing the evaluations. 100% 100% 95% 92% 90% 93% 87% 87% 90% 88% 86% 82% 80% 70% 60% 50% 97% 40% 77% 71% 80% 78% 78% 87% 74% 61% 30% 68% 20% 10% 0% Am. Home Servicing 1 Homeowners Bank of America CitiMortgage GMAC JPMorgan Chase Right Party Contact Ratio2 Ocwen OneWest Saxon SPS Wells Fargo HAMP Evaluations Complete Ratio3 with HAMP eligible loans, which include conventional loans that were originated on or before Jan. 1, 2009 and were owner-occupied at origination; excludes FHA and VA loans, loans where investor pooling and servicing agreements preclude modification, and manufactured housing loans with title/chattel issues that exclude them from HAMP. 2 Right Party Contact (RPC) is achieved when a servicer has successfully communicated directly with the homeowner obligated under the mortgage about resolution of their delinquency in accordance with program guidelines. The RPC ratio reflects the share of homeowners with which the servicer has established RPC as a percent of HAMP eligible loans, excluding homeowners where RPC or HAMP evaluation is no longer needed. 3 HAMP evaluations complete ratio reflects the share of homeowners who have been evaluated for HAMP as a percent of HAMP eligible loans, excluding homeowners where RPC or HAMP evaluation is no longer needed. Evaluated homeowners include those offered a trial plan, those that are denied or did not accept a trial plan and homeowners that failed to submit a complete HAMP evaluation package by program-specified timelines. Source: Survey of 10 largest participating servicers as of January 31, 2012. 12 Making Home Affordable: Servicer Results Program Performance Report Through February 2012 Average Homeowner Delinquency at Trial Start1 Servicers are instructed to follow a series of steps in order to evaluate homeowners for HAMP, including: • Identifying and soliciting the homeowners in the early stages of delinquency; • Making reasonable efforts to establish right party contact with the homeowners; • Gathering required documentation once contact is established in order to evaluate the homeowners for a HAMP trial; and, • Communicating decisions to the homeowners. Effective 10/1/11, a new servicer compensation structure exists to encourage servicers to work with struggling homeowners in the early stages of delinquency with the highest incentives paid for permanent modifications completed when the homeowner is 120 days delinquent or less at the trial start. 250 Maximum servicer incentive is paid for converting a permanent modification that was 120 days delinquent or less at trial start. 200 Days 150 100 50 0 Am. Home Servicing Bank of America CitiMortgage GMAC JPMorgan Chase Ocwen OneWest Saxon SPS Wells Fargo Other Servicers 1 For all permanent modifications started, the average number of days delinquent as of the trial plan start date. Delinquency is calculated as the number of days between the homeowner's last paid installment before the trial plan and the first payment due date of the trial plan. 13 Making Home Affordable: Servicer Results Program Performance Report Through February 2012 Conversion Rate1 Following the implementation of verified income documentation in June 2010, rates of converting trial modifications into permanent modifications have risen substantially. Of eligible trials started on or after June 1, 2010, 85% have converted to permanent modification with an average trial length of 3.5 months. Of Trials Started Before 6/1/10: 43% Converted to Permanent Modification 0.4% Pending Processing or Decision 100% 89% Of Eligible Trials Started On/After 6/1/10: 85% Converted to Permanent Modification 4.9% Pending Processing or Decision 83% 84% 84% 89% 85% 84% 81% 87% 87% 82% 80% Conversion Rate 89% 60% 40% 20% 0% Am. Home Servicing Bank of America CitiMortgage GMAC JPMorgan Chase Ocwen Average of Trials Started Before 6/1/10 (43%) OneWest Saxon SPS Wells Fargo Other SPA Servicers Other GSE Servicers Average of Trials Started On/After 6/1/10 (85%) 1 Per program guidelines, effective June 1, 2010 all trials must be started using verified income. Before June 1, 2010, some servicers initiated trials using stated income information. Chart depicts conversion rates as measured against trials eligible to convert – those three months in trial, or four months if the borrower was at risk of imminent default at trial modification start. Permanent modifications transferred among servicers are credited to the originating servicer. Trial modifications transferred are reflected in the current servicer’s population. 14 Making Home Affordable: Servicer Results Program Performance Report Through February 2012 Homeowner Experience (10 Largest Servicers) Average Speed to Answer Homeowner Calls (January 2012) 60 Servicer Complaint Rate to Homeowner’s HOPETM Hotline (Program to Date, Through February) Average Speed to Answer Calls to Homeowner’s HOPETM Hotline for January: 46.5 Seconds Program to date, there have been 1,428,901 calls to the Homeowner’s HOPETM Hotline regarding a specific SPA servicer, of which 6.6% included complaints. Below shows specific complaint rates. 50 11% 40 % of Calls for Specific Servicer Seconds 30 20 9% 8% 7% 6% 5% 10 0 Program to Date Average: 6.6% 10% 4% 3% Am. Home Servicing Bank of America CitiMortgage GMAC JPMorgan Chase Ocwen OneWest Saxon SPS Wells Fargo Source: Survey data through January 31, 2012, from servicers on call volume to loss mitigation lines; Homeowner’s HOPETM Hotline. Am. Home Complaints Servicing (PTD): 2,791 Bank of America CitiMortgage GMAC JPMorgan Chase Ocwen OneWest Saxon 32,614 7,219 3,629 18,383 4,727 305 1,246 8% 12,264 Source: Homeowner’s HOPETM Hotline. Numbers reflect calls that resulted in customer records. Note: Complaint rate is the share of a specific servicer’s call volume that are complaints (e.g., for all calls about OneWest, 9.5% included complaints.) 60 Target: 30 Calendar Days 50 Calendar Days 6% Homeowner’s HOPETM Hotline Average Call Abandon Rate for January: 7.1% 40 30 20 10 2% 0 0% 718 Wells Fargo Servicer Time to Resolve Third-Party Escalations (Cases Reported Feb. 1, 2011-Feb. 29, 2012) Call Abandon Rate (January 2012) 4% SPS Am. Home Servicing Bank of America CitiMortgage GMAC JPMorgan Chase Ocwen OneWest Saxon Source: Survey data through January 31, 2012, from servicers on call volume to loss mitigation lines; Homeowner’s HOPETM Hotline. SPS Wells Fargo Am. Home Servicing Resolved Cases 821 Post-2/1/11 Bank of America CitiMortgage GMAC JPMorgan Chase Ocwen OneWest Saxon SPS Wells Fargo 11,385 1,233 734 4,459 1,336 976 306 183 3,214 Source: MHA Support Centers. GSE and Non-GSE escalations escalated on or after Feb. 1, 2011. Investor denial cases escalated prior to Nov.1, 2011, cases involving bankruptcy and those that did not require servicer actions are not included in calculation of servicer time to resolve escalations. Target of 30 calendar days, effective Feb. 1, 2011, includes an estimated 5 days of processing by MHA Support Centers. 15 Making Home Affordable: Servicer Results Program Performance Report Through February 2012 Disposition Path Homeowners in Canceled HAMP Trial Modifications Survey Data Through January 2012 (10 Largest Servicers) Status of Homeowners Whose HAMP Trial Modification Was Canceled: Action Not Allowed – Action Bankruptcy Borrower Pending1 in Process Current Servicer American Home Mortgage Servicing, Inc. Short Sale/ Alternative Payment Deed-in- Foreclosure Foreclosure Modification Plan2 Loan Payoff Lieu Starts Completions Total (As of January 2012) 175 85 208 2,574 53 343 337 679 184 4,638 13,815 7,166 17,601 68,472 2,126 5,127 17,717 24,881 25,692 182,597 1,023 6,045 6,930 29,431 2,003 4,935 5,653 5,634 9,841 71,495 991 426 1,885 5,454 103 562 1,174 1,822 2,048 14,465 JPMorgan Chase Bank NA4 6,211 2,929 22,414 45,276 275 1,504 12,407 19,271 11,642 121,929 Ocwen Loan Services LLC5 4,461 968 8,557 6,098 2,137 162 338 4,250 1,613 28,584 281 310 566 12,074 68 101 1,201 1,746 4,154 20,501 Saxon Mortgage Services, Inc. 2,205 908 3,044 2,476 398 429 1,033 4,109 4,034 18,636 Select Portfolio Servicing 1,058 361 1,213 5,586 265 460 1,349 1,282 3,761 15,335 Wells Fargo Bank NA6 3,920 843 10,735 49,920 864 25,092 2,557 16,881 6,795 117,607 34,140 5.7% 20,041 3.4% 73,153 12.3% 227,361 38.2% 8,292 1.4% 38,715 6.5% 43,766 7.3% 80,555 13.5% 69,764 11.7% 595,787 100.0% Bank of America, NA 3 CitiMortgage Inc. GMAC Mortgage, LLC OneWest Bank TOTAL (These 10 Largest Servicers) Note: Data is as reported by servicers for actions completed through January 31, 2012. Survey data is not subject to the same data quality checks as data uploaded into the HAMP system of record. 1 Trial loans that have been canceled, but no further action has yet been taken. 2 An arrangement with the borrower and servicer that does not involve a formal loan modification. 3 Bank of America, NA includes all loans previously reported under BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. 4 JPMorgan Chase Bank, NA includes all loans previously reported under EMC Mortgage Corporation. 5 Ocwen Loan Servicing, LLC includes Litton Loan Servicing LP. 6 Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage, FSB. Note: Excludes cancellations pending data corrections and loans otherwise removed from servicing portfolios. The most common causes of trial cancellations from all servicers are: • Insufficient documentation • Trial plan payment default • Ineligible borrower: first lien housing expense is already below 31% of household income 16 Making Home Affordable: Servicer Results Program Performance Report Through February 2012 Disposition Path Homeowners Not Accepted for HAMP Trial Modifications Survey Data Through January 2012 (10 Largest Servicers) Status of Homeowners Not Accepted for a HAMP Trial Modification: Servicer Action Pending1 Action Not Allowed – Bankruptcy Borrower in Process Current Short Sale/ Alternative Payment Deed-in- Foreclosure Foreclosure Modification Plan2 Loan Payoff Lieu Starts Completions Total (As of January 2012) American Home Mortgage Servicing, Inc. 2,615 1,672 14,698 42,126 1,449 3,051 2,824 10,014 1,915 80,364 Bank of America, NA3 33,330 16,853 91,774 153,288 9,702 11,820 41,738 66,047 54,454 479,006 CitiMortgage Inc. 4,927 13,609 24,246 56,075 7,204 18,028 16,642 16,119 18,630 175,480 GMAC Mortgage, LLC 13,430 6,148 51,321 37,522 1,643 6,418 9,958 17,035 17,054 160,529 JPMorgan Chase Bank NA4 34,613 12,491 162,535 128,104 1,995 41,096 50,930 68,596 25,799 526,159 Ocwen Loan Services LLC5 20,990 4,965 29,265 55,587 9,891 2,688 2,546 15,865 8,379 150,176 OneWest Bank 6,013 2,496 26,369 29,090 1,012 2,298 5,280 8,573 11,563 92,694 Saxon Mortgage Services, Inc. 4,170 1,220 5,785 7,939 563 1,002 931 4,844 3,297 29,751 Select Portfolio Servicing 2,577 425 3,066 5,779 358 405 1,403 1,601 2,190 17,804 Wells Fargo Bank NA6 15,787 5,327 49,769 52,821 1,693 33,645 15,779 24,514 16,240 215,575 138,452 7.2% 65,206 3.4% 458,828 23.8% 568,331 29.5% 35,510 1.8% 120,451 6.2% 148,031 7.7% 233,208 12.1% 159,521 8.3% 1,927,538 100.0% TOTAL (These 10 Largest Servicers) Note: Data is as reported by servicers for actions completed through January 31, 2012. Survey data is not subject to the same data quality checks as data uploaded into the HAMP system of record. 1 Homeowners who were not approved for a HAMP trial modification, but no further action has yet been taken. 2 An arrangement with the borrower and servicer that does not involve a formal loan modification. 3 Bank of America, NA includes all loans previously reported under BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. 4 JPMorgan Chase Bank, NA includes all loans previously reported under EMC Mortgage Corporation. 5 Ocwen Loan Servicing, LLC includes Litton Loan Servicing LP. 6 Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage, FSB. Note: Excludes loans removed from servicing portfolios. The most common causes of trials not accepted from all servicers are: • Insufficient documentation • Ineligible borrower: first lien housing expense is already below 31% of household income • Ineligible mortgage 17 Making Home Affordable Program Performance Report Through February 2012 Appendix A1: Non-GSE Participants in HAMP Servicers participating in the HAMP First Lien Modification Program may also offer additional support for homeowners, including Home Affordable Foreclosure Alternatives (HAFA), a forbearance for unemployed borrowers through the Unemployment Program (UP), and Principal Reduction Alternative (PRA). Effective October 3, 2010, the ability to make new financial commitments under the Troubled Asset Relief Program (TARP) terminated, and consequently no new Servicer Participation Agreements may be executed. In addition, effective June 25, 2010, no new housing programs may be created under TARP. Allstate Mortgage Loans & Investments, Inc. American Home Mortgage Servicing, Inc AMS Servicing, LLC Aurora Loan Services, LLC Bank of America, N.A.1 Bank United Bayview Loan Servicing, LLC Carrington Mortgage Services, LLC CCO Mortgage Central Florida Educators Federal Credit Union CitiMortgage, Inc. Citizens 1st National Bank Community Bank & Trust Company Community Credit Union of Florida CUC Mortgage Corporation DuPage Credit Union Fay Servicing, LLC Fidelity Homestead Savings Bank First Bank First Financial Bank, N.A. Franklin Credit Management Corporation Franklin Savings Fresno County Federal Credit Union Glass City Federal Credit Union GMAC Mortgage, LLC 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 IBM Southeast Employees' Federal Credit Union IC Federal Credit Union Idaho Housing and Finance Association iServe Residential Lending LLC iServe Servicing Inc. JPMorgan Chase Bank, NA2 Lake City Bank Lake National Bank Liberty Bank and Trust Co. Los Alamos National Bank Magna Bank Marix Servicing, LLC Midland Mortgage Company Midwest Community Bank Mission Federal Credit Union Mortgage Center, LLC Nationstar Mortgage LLC Navy Federal Credit Union Ocwen Loan Servicing, LLC3 OneWest Bank ORNL Federal Credit Union Park View Federal Savings Bank Pathfinder Bank PennyMac Loan Services, LLC PNC Bank, National Association PNC Mortgage4 Purdue Employees Federal Credit Union QLending, Inc. Quantum Servicing Corporation Residential Credit Solutions RG Mortgage Corporation 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 Specialized Loan Servicing, LLC Sterling Savings Bank Suburban Mortgage Company of New Mexico Technology Credit Union The Golden 1 Credit Union U.S. Bank National Association United Bank United Bank Mortgage Corporation Vantium Capital, Inc. Vist Financial Corp. Wealthbridge Mortgage Corp. Wells Fargo Bank, NA5 Yadkin Valley Bank 1 Bank of America, NA includes all loans previously reported under BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. 2 JPMorgan Chase Bank, NA includes all loans previously reported under EMC Mortgage Corporation. 3 Ocwen Loan Servicing, LLC includes Litton Loan Servicing LP. 4 Formerly National City Bank. 5 Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage, FSB. 18 Making Home Affordable Program Performance Report Through February 2012 Appendix A2: Participants in Additional Making Home Affordable Programs Second Lien Modification Program (2MP) Bank of America, NA1 Bayview Loan Servicing, LLC CitiMortgage, Inc. Community Credit Union of Florida GMAC Mortgage, LLC Green Tree Servicing LLC iServe Residential Lending, LLC iServe Servicing, Inc. JPMorgan Chase Bank, NA2 Nationstar Mortgage LLC OneWest Bank PennyMac Loan Services, LLC PNC Bank, National Association PNC Mortgage 3 Residential Credit Solutions Servis One Inc., dba BSI Financial Services, Inc. Wells Fargo Bank, NA 4 FHA First Lien Program (Treasury FHA-HAMP) Amarillo National Bank American Financial Resources Inc. Aurora Financial Group, Inc. Aurora Loan Services, LLC Banco Popular de Puerto Rico Bank of America, NA1 Capital International Financial, Inc. CitiMortgage, Inc. CU Mortgage Services, Inc. First Federal Bank of Florida First Mortgage Corporation Franklin Savings Gateway Mortgage Group, LLC GMAC Mortgage, LLC. Green Tree Servicing LLC Guaranty Bank iServe Residential Lending, LLC iServe Servicing, Inc. James B. Nutter & Company JPMorgan Chase Bank,NA2 M&T Bank Marix Servicing, LLC Marsh Associates, Inc. Midland Mortgage Company Nationstar Mortgage LLC Ocwen Loan Servicing, LLC PennyMac Loan Services, LLC PNC Mortgage 3 RBC Bank (USA) Residential Credit Solutions Saxon Mortgage Services, Inc. Schmidt Mortgage Company Select Portfolio Servicing Servis One Inc., dba BSI Financial Services, Inc. Stockman Bank of Montana Wells Fargo Bank, NA 4 Weststar Mortgage, Inc. FHA Second Lien Program (FHA 2LP) Bank of America, NA1 Bayview Loan Servicing, LLC CitiMortgage, Inc. Flagstar Capital Markets Corporation GMAC Mortgage, LLC. Green Tree Servicing LLC JPMorgan Chase Bank, NA2 Nationstar Mortgage LLC PNC Bank, National Association PNC Mortgage 3 Residential Credit Solutions Saxon Mortgage Services, Inc. Select Portfolio Servicing Wells Fargo Bank, NA 4 Rural Housing Service Modification Program (RD-HAMP) Banco Popular de Puerto Rico Bank of America, N.A. 1 Horicon Bank JPMorgan Chase Bank, NA 2 Magna Bank Marix Servicing, LLC Midland Mortgage Company Nationstar Mortgage LLC Wells Fargo Bank, NA 4 1 Bank of America, NA includes all loans previously reported under BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. 2 JPMorgan Chase Bank, NA includes all loans previously reported under EMC Mortgage Corporation. 3 Formerly National City Bank. 4 Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage FSB. 19
@FedFRASER