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Making Home Affordable
Report Highlights

Program Performance Report Through April 2014

More than 2 Million Homeowner Assistance Actions Taken through Making Home
Affordable
•

More than 1.3 million homeowners have received a permanent modification through the
Home Affordable Modification Program (HAMP). Homeowners have reduced their first lien
mortgage payments by a median of approximately $541 each month – almost 40% of their
median before-modification payment – saving a total estimated $27.5 billion to date in
monthly mortgage payments.

•

More than 288,000 homeowners have exited their homes through a short sale or deed-inlieu of foreclosure with assistance from the Home Affordable Foreclosure Alternatives
Program (HAFA).

•

Nearly 134,000 second lien modifications have been started through the Second Lien
Modification Program (2MP).

This Month’s Feature: The Principal Reduction Alternative Program
•

Homeowners currently in HAMP permanent modifications with some form of principal
reduction have been granted an estimated $14 billion in principal reduction. Of all nonGovernment Sponsored Enterprise (non-GSE) loans eligible for principal reduction entering
HAMP in April, 67% included a principal reduction feature.

The Q1 2014 Quarterly Servicer Assessment
•

For the first quarter of 2014, all servicers were found to need moderate improvement. All
servicers will need to continue to demonstrate progress in areas identified during program
reviews. Servicer performance has improved since the inception of the Servicer
Assessment reports.

Upcoming Publication Change:
•

The MHA Program Performance Report through May will be the last monthly report
published. Starting with the Second Quarter of 2014, this report will be published on a
quarterly basis.

Note: 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.

Inside:
SUMMARY AND PROGRAM RESULTS:
Making Home Affordable Program Summary
HAMP Summary
PRA, Treasury FHA-HAMP and UP Summary
HAFA and 2MP Summary
Featured Program Results: PRA
HAMP Modification Characteristics
HAMP Activity by State and MSA
Homeowner Outreach

2
3
4
5
6
7
8
9

SERVICER RESULTS:
HAMP, PRA, 2MP, and HAFA Activity
HAMP Modification Activity
Outreach to 60+ Day Delinquent Homeowners
Average Delinquency at Trial Start
Conversion Rate
Disposition of Homeowners Not in HAMP

10
11
12
13
14
15

SERVICER ASSESSMENT RESULTS:
Overview
Servicer Results
Description of Metrics

16-17
18-28
29

APPENDICES:
Terms and Methodology
Program Notes
End Notes
Participants in MHA Programs

30
31
32
33-34

Making Home Affordable: Summary Results
Program Performance Report Through April 2014

Making Home Affordable Program Activity
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’s reach.

In total, the MHA program has completed more than 2 million first and second lien permanent modifications, HAFA transactions, and UP forbearance plans.
Program-to-Date

Reported Since Prior
Period

1,596,848

19,935

2MP Modifications Started

133,705

2,302

HAFA Transactions Completed

288,599

7,788

UP Forbearance Plans Started (through
March 2014)

39,534

351

2,058,686

30,376

Cumulative Activity1

MHA Program Activity
Cumulative Transactions Completed

2,200
2,000
1,800
1,588

1,624

1,665

1,703

1,740

1,791

1,826

1,864

1,900

1,935

1,968

1,997

2,028

2,059

MHA First Lien
Modifications

The Home Affordable Modification Program (HAMP)
provides eligible borrowers the opportunity to lower their
first lien mortgage payment to affordable and sustainable
levels through a uniform loan modification process.
Effective June 2012, HAMP's eligibility requirements were
expanded to include a "Tier 2" evaluation for non-GSE
loans that is modeled after the GSE Standard Modification
and includes properties that are currently occupied by a
tenant as well as vacant properties the borrower intends
to rent. FHA-HAMP and RD-HAMP provide first lien
modifications for distressed borrowers in loans
guaranteed through the Federal Housing Administration
and Rural Housing Service.

Second Lien
Modification Program
(2MP)

*Program-to-Date Total Includes :
• 1,364,734 GSE and Non-GSE HAMP permanent modifications
• 33,641 FHA- and RD-HAMP modifications
• 198,473 GSE Standard Modifications since October 2011 under the GSEs’
Servicer Alignment Initiative

Cumulative MHA Activity (000s)

Purpose

Provides modifications and extinguishments on second
liens when there has been an eligible first lien
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. Effective
November 2012, the GSEs jointly streamlined their short
sale and deed-in-lieu of foreclosure programs. The GSE
Standard HAFA program is closely aligned with Treasury’s
MHA HAFA program. A short sale requires a third-party
purchaser and cooperation of junior lienholders and
mortgage insurers to complete the transaction.

Unemployment
Program (UP)

MHA First Lien Permanent Modifications
Started*

1,600

Program

Provides temporary forbearance of mortgage principal to
enable unemployed borrowers to look for a new job
without fear of foreclosure.

1,400
1,200
1,000
800
Mar Apr May June July Aug Sep Oct Nov Dec Jan Feb Mar Apr
2013
2014

Source: HAMP system of record for HAMP, 2MP, HAFA, FHA-HAMP, and RD-HAMP. UP participation is reported via
servicer survey. GSE Standard Modification and GSE Standard HAFA data provided by Fannie Mae and Freddie Mac.

See Appendix for Terms and Methodology, Program Notes, End Notes and additional
information on servicer participants in Making Home Affordable programs.

Making Home Affordable: Summary Results
Program Performance Report Through April 2014

HAMP (First Lien) Modifications
Trial Modifications

Permanent Modifications

Total

All Trials Started

Total

All Permanent Modifications Started

2,194,478

1,364,734

Tier 1

2,122,595

Tier 1

1,311,853

Tier 2

71,883

Tier 2

52,881

Trials Reported Since Last Report2

10,171

Permanent Modifications Reported Since Last Report

11,813

Active Trials

45,298

Permanent Modifications Disqualified (Cumulative)**

386,493

Trial Modifications Cancelled since Verified Income
Requirement*

82,187

Active Permanent Modifications

950,547

* When

Treasury first launched HAMP in the spring of 2009, servicers were not required to verify a borrower’s income prior to commencing a trial modification. This was the policy because of the
severity of the crisis, the number of homeowners already in default, and the fact that servicers had not yet built the systems to fully implement the program. However, this resulted in many trials being
cancelled once income was verified. Treasury required all servicers to verify a borrower’s income as of June 2010, which substantially lowered trial cancellations. Prior to that date, 702,259 trials were
cancelled, for a cumulative total of 784,446.
** Does not include 27,694 loans paid off.

HAMP Trials Started

HAMP Permanent Modifications Started (Cumulative)

Monthly Trial Starts (Right Axis)

All Trials Started (000s)

2,150
2,103

2,100

2,116

2,130

2,144

2,156

2,167

2,177

2,186

2,194

40
35
30

2,087
2,071

2,054

2,034
2,016

2,000

New Trials Started (000s)

2,200

2,050

1,400

10
1,950
1,900

All Permanent Modifications Started (000s)

Cumulative Trial Starts (Left Axis)

2,250

1,353

1,350

1,327
1,298

1,300
1,269

1,312

1,285

1,256

1,250
1,223

1,200

1,365

1,340

1,179

1,191

1,237

1,206

1,150
1,100

5
Mar-13 Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan-14

Feb

Mar

Apr

Servicers may enter new trial modifications into the HAMP system of record at any time. For example, 10,171 trials
have entered the HAMP system of record since the prior report; 8,001 were trials with a first payment recorded
this month.

1,050

Mar
2013

Apr

May

June

July

Aug

Sep

Oct

Nov

Dec

Jan
2014

Feb

Mar

Apr

Making Home Affordable: Summary Results
Program Performance Report Through April 2014

HAMP Principal Reduction Activity
Servicers of non-GSE loans are required to evaluate the benefit of principal reduction under the HAMP Principal Reduction Alternative (PRA) for mortgages with a loan-to-value (LTV)
ratio greater than 115% when evaluating a homeowner for a HAMP first lien modification. While servicers are required to evaluate homeowners for principal reduction, they are not
required to reduce principal as part of the modification. The MHA Program allows servicers to provide principal reduction on HAMP modifications in two ways:
•Under HAMP PRA, principal is reduced to lower the LTV, the investor is eligible to receive an incentive on the amount of principal reduced, and the reduction vests over a 3-year
period.
•Servicers can also offer principal reduction to homeowners on a HAMP modification outside the requirements of HAMP PRA. If they do, the investor receives no incentive payment
for the principal reduction and the principal reduction can be recognized immediately.
Of all non-GSE loans eligible for principal reduction that started a trial in April 2014, 67% included a principal reduction feature, including 60% through the HAMP PRA program.

HAMP Modifications
with Earned Principal
Reduction Under PRA3

51,429

225,524

3,030

Trials Reported Since Last Report

Total HAMP
Modifications with
Principal Reduction

174,095

All Trial Modifications Started

HAMP Modifications
with Upfront Principal
Reduction Outside of
PRA
464

3,494

Active Trial Modifications

11,843

1,743

13,586

All Permanent Modifications Started

149,285

45,919

195,204

2,955

563

3,518

Permanent Modifications Reported Since Last Report
Active Permanent Modifications

122,244

38,157

160,401

Median Principal Amount Reduced for Active Permanent Modifications4

$72,000

$56,308

$67,203

Median Principal Amount Reduced for Active Permanent Modifications

(%)5

Total Outstanding Principal Balance Reduced on Active Permanent Modifications4

Treasury FHA-HAMP Modification Activity

32.5%

18.0%

30.6%

$11,346,333,715

$2,618,861,904

$13,965,195,619

Unemployment Program (UP) Activity

The Treasury FHA-HAMP Program provides assistance to eligible homeowners with
FHA-insured mortgages.

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 Treasury FHA-HAMP Trial Modifications Started

51,375

All UP Forbearance Plans Started

39,534

All Treasury FHA-HAMP Permanent Modifications Started

33,481

UP Forbearance Plans With Some Payment Required

33,613

UP Forbearance Plans With No Payment Required

5,921

Making Home Affordable: Summary Results
Program Performance Report Through April 2014

Home Affordable Foreclosure Alternatives (HAFA) Activity
The Home Affordable Foreclosure Alternatives Program (HAFA) offers incentives and a streamlined process 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. Effective November 2012, the GSEs
revised their short sale and deed-in-lieu programs. The GSE Standard HAFA program is closely aligned with Treasury’s MHA HAFA program. In HAFA transactions, homeowners:
• Follow a streamlined process for short sales and deed-in-lieu transactions that requires no verification of income (unless as required by investors) and allows for preapproved short sale terms;
• Receive a waiver of deficiency once the transaction is completed that releases them from remaining mortgage debt;
• Receive at least $3,000 in relocation assistance at closing.
Non-GSE Activity

GSE Activity

Total

151,771

111,178

262,949

5,365

20,285

25,650

157,136

131,463

288,599

Short Sale
Deed-in-Lieu
Total Transactions Completed

Second Lien Modification Program (2MP) Activity
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 and even full or partial extinguishment of the second lien. Second lien modifications follow a series of steps
and may include capitalization, interest rate reduction, term extension and principal forbearance or forgiveness. Effective September 2013, Treasury expanded 2MP program
eligibility to include second liens with a qualifying first lien modified under the GSEs’ Standard Modification program.
2MP modifications and partial extinguishments require that the qualifying first lien modification be permanent and active and that the second lien have an unpaid balance of $5,000
or more and a monthly payment of at least $100.
All Second Lien Modifications Started (Cumulative)*

133,705

Second Lien Modifications Involving Full Lien Extinguishments

35,719

Second Lien Modifications Disqualified**

11,245

Active Second Lien Modifications***

82,010

Active Second Lien Modifications Involving Partial Lien
Extinguishments

Second Lien Extinguishment Details

10,394

Median Amount of Full Extinguishment

$59,962

Median Amount of Partial Extinguishment for Active Second Lien
Modifications

$9,761

* Includes 3,601 loans that have a qualifying first lien GSE Standard Modification.
**Does not include 4,731 loans paid off.
*** Includes 6,778 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.

Making Home Affordable: Program Results
Program Performance Report Through April 2014

HAMP Principal Reduction
To encourage servicers and investors to consider or expand the use of HAMP PRA, Treasury issued program guidance on February 16, 2012 tripling financial incentives under HAMP
PRA for investors who agree to reduce principal for eligible underwater homeowners. The program guidance applies to all permanent modifications of non-GSE loans under HAMP
that include HAMP PRA and have a trial period plan effective date on or after March 1, 2012. HAMP PRA can be a feature of a HAMP trial or permanent modification.
Of non-GSE loans eligible for principal reduction that started a trial in April, 60% were offered principal reduction through the HAMP PRA program. The remaining HAMP trial
modifications with a principal reduction feature were granted outside the requirements of HAMP PRA, where the investor does not receive a financial incentive for the principal
reduction.
Trials Started with Principal Reduction as a
% of Eligible Loans

PRA

80%

69%

70%

67%

68%

72%

71%

69%

65%

55%

56%

Mar-13

Apr

58%

61%

63%

64%

60%

58%

54%

65%

57%

60%

60%
50%

70%

All Principal Reduction*

74%

58%

Jan-14

Feb

Mar

67%

60%

52%

40%
30%
20%
10%
0%
May

June

July

Aug

Sep

Oct

Nov

All HAMP
Modifications

Total HAMP
Modifications with
Principal Reduction

80%
20%

84%
16%

Top three States by Total Active, Percent of Total Activity:
- California
- Florida
- Illinois
Top Three States’ Percent of Total

25%
12%
5%
43%

31%
16%
6%
52%

Active Permanent Modifications – Median Loan-to-Value (LTV) ratio:
- Before Modification
- After Modification**

118%
115%

147%
112%

Active Permanent Modifications – Median before Modification Debt-to-Income (DTI) ratio:
- Front-End DTI
- Back-End DTI

45.1%
67.8%

44.6%
57.2%

Modification Characteristics
Of trials started, delinquency at trial start:
- At least 60 days delinquent
- Up to 59 days delinquent or current and in imminent default

Dec

Apr

*All

Principal Reduction population consists of trials that have any principal
reduction, including those with HAMP PRA.

While the population of loan modifications with principal
reduction is still relatively small, program data indicates
that modifications with principal reduction include more
homeowners seriously delinquent at the time of trial start
than the overall population of HAMP homeowners. Overall,
homeowners receiving permanent loan modifications with
principal reduction also have a higher before-modification
LTV ratio than those without it.
**Because the first step of the standard HAMP waterfall includes the
capitalization of accrued interest, out-of-pocket escrow advances to third
parties, any escrow advances made to third parties during the trial period
plan, and servicing advances that are made for costs and expenses incurred in
performing servicing obligations, this can result in an increase in the principal
balance after modification. As a result, the loan-to-value ratio can increase in
the modification process.

Making Home Affordable: Program Results
Program Performance Report Through April 2014

HAMP Homeowner Benefits and First Lien Modification Characteristics
Aggregate payment savings to homeowners who received HAMP first lien permanent modifications are estimated to total approximately $27.5 billion, program to
date, compared with unmodified mortgage obligations. The median monthly savings for homeowners in active permanent first lien modifications is $541, or 39% of
the median monthly payment before modification.

Modification Steps of Active Permanent Modifications

Select Median Characteristics of Active Permanent Modifications

• Under Tier 1, servicers apply the modification steps in sequence until the
homeowner’s post-modification front-end debt-to-income (DTI) ratio is 31%. The
impact of each modification step can vary to achieve the target of 31%.
• Under Tier 2, servicers apply consistent modification terms resulting in the
homeowner’s post-modification DTI falling within an allowable target range.6
Active permanent modifications reflect the following modification steps:
Modification Step

Tier 1

Tier 2

Interest Rate Reduction

96.0%

75.4%

Term Extension

64.0%

70.1%

Principal Forbearance

34.3%

31.4%

After
Modification

Median
Decrease

Tier 1

45.6%

31.0%

-15.2 pct pts

Tier 2

28.8%

21.9%

-6.7 pct pts

Tier 1

HAMP modifications follow a series of waterfall steps. The modification steps include
interest rate adjustment, term extension and principal forbearance.

Before
Modification

69.0%

50.6%

-15.4 pct pts

Tier 2

45.3%

37.5%

-6.7 pct pts

Tier 1

$1,409.11

$789.23

($555.14)

Tier 2

$1,098.55

$723.91

($340.46)

Loan Characteristic
Front-End Debt-to-Income Ratio

Back-End Debt-to-Income Ratio

Median Monthly Housing Payment

Homeowner Characteristics
• The primary hardship reason for the majority of homeowners in active permanent
modifications is loss of income (curtailment of income or unemployment).
• The median gross monthly income of homeowners in the program is $3,877.
• The median credit score of homeowners in the program is 577.

• Of all HAMP 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.

• Tier 2 provides another modification opportunity for struggling homeowners who
did not qualify for Tier 1 or received a Tier 1 trial or permanent modification but lost
good standing. Of the Tier 2 trial modifications started:



25% were previously in a Tier 1 trial or permanent modification.
15% were previously evaluated for Tier 1 and did not meet eligibility
requirements.

• Of the Tier 2 trial modifications started, 6% were for non owner-occupied
properties.

Making Home Affordable: Program Results
Program Performance Report Through April 2014

15 Metropolitan Areas With Highest HAMP Activity

HAMP Activity by State

State

Active
Trials

Active
Median %
Median $
Permanent
Payment
Payment
Modifications Reduction7 Reduction7

State

Active
Median $
Active Permanent Payment
Trials Modifications Reduction7

Median %
Payment
Reduction7

427

$514.04

33%

1,065

$437.58

36%

407

5,282

$288.80

35%

1,062

17,071

$332.82

36%

167

2,020

$280.14

35%

144

$290.55

33%

714

34,109

$482.12

41%

1,264

$281.48

35%

6,873

244,398

$765.08

40%

183

4,093

$503.55

37%

485

13,161

$441.22

36%

2,126

30,977

$693.30

41%

772

12,586

$582.14

40%

171

3,242

$388.42

37%

1,619

$600.19

35%

672

19,925

$568.66

42%

171

2,790

$449.84

35%

3,536

49,896

$861.15

42%

5,875

118,122

$506.29

43%

1,399

19,908

$311.01

38%

1,619

33,341

$395.01

40%

183

2,283

$270.54

36%

Metropolitan Statistical Area

Active
Trials

Active
Median $ Median %
Permanent Payment Payment
Mods
Reduction7 Reduction7

Los Angeles-Long Beach-Santa
Ana, CA

2,315

79,493

$861.04

41%

New York-Northern New JerseyLong Island, NY-NJ-PA

4,251

65,480

$884.00

43%

Miami-Fort Lauderdale-Pompano
Beach, FL

2,713

52,970

$575.58

45%

Chicago-Joliet-Naperville, IL-INWI

2,226

47,370

$563.71

44%

Riverside-San BernardinoOntario, CA

1,159

45,796

$684.59

41%

Washington-ArlingtonAlexandria, DC-VA-MD-WV

1,325

31,435

$694.46

38%

Atlanta-Sandy Springs-Marietta,
GA

1,190

26,812

$412.38

40%

Phoenix-Mesa-Glendale, AZ

479

26,917

$501.92

41%

San Francisco-Oakland-Fremont,
CA

601

21,972

$921.84

40%

184

3,721

$861.39

36%

384

10,617

$495.35

38%

177

2,176

$274.36

36%

1,750

20,507

$379.13

36%

114

3,464

$411.74

37%

243

4,527

$577.29

42%

2,375

48,727

$554.20

44%

584

8,678

$328.44

35%

692

8,960

$282.30

36%

315

$285.75

32%

154

2,223

$313.54

35%

753

9,634

$312.63

37%

293

3,534

$287.48

36%

1,865

26,703

$304.53

36%

San Diego-Carlsbad-San Marcos,
CA

502

17,807

$805.87

38%

Orlando-Kissimmee-Sanford, FL

720

16,813

$490.26

42%

Boston-Cambridge-Quincy, MANH

903

16,021

$680.28

39%

Las Vegas-Paradise, NV

559

16,213

$570.78

42%

Detroit-Warren-Livonia, MI

620

16,068

$423.50

42%

Philadelphia-CamdenWilmington, PA-NJ-DE-MD

1,193

15,449

$444.15

36%

415

5,391

$308.04

35%

213

7,997

$476.02

35%

1,388

22,284

$641.37

39%

956

22,184

$542.00

35%

1,726

30,169

$626.73

38%

854

$413.11

37%

176

2,625

$424.42

38%

874

20,359

$550.81

37%

1,129

26,961

$378.20

40%

577

8,718

$375.22

39%

490

14,045

$463.60

38%

1,254

$335.57

32%

628

9,222

$322.98

38%

424

$402.99

32%

238

3,265

$276.44

36%

131

3,272

$301.25

39%

Note: A complete list of HAMP activity for all metropolitan areas is available at http://www.treasury.gov/initiatives/financial-stability/reports/Pages/HAMP-Report.aspx

Making Home Affordable: Program Results
Program Performance Report Through April 2014

Reaching Out to Homeowners

93 Treasury-sponsored
Outreach Events, through April
2014, covering 57 cities, giving
more than 77,000
homeowners the opportunity
to meet face-to-face with their
mortgage company and HUDapproved housing counselors.
In addition, Treasury has
partnered with the Ad Council
on three different public service
advertising campaigns featured
in both English and Spanish,
encouraging struggling
homeowners nationwide to
reach out for help with their
mortgages.

2.3

MILLION

Homeowners
referred to free
housing counseling
from a HUDapproved housing
expert.

16
6
6
3
17

Total HAMP Modifications Active

Number of Homeowner Events per State
1

OVER

10.6

MILLION

3 or more

Solicitations of
homeowners by
participating
mortgage
servicers.

NEARLY

4.3

MILLION

5,000 and lower
5,001-10,000
10,000-20,000
20,001-30,000
30,001 and higher

Calls taken
at the
Homeowner’s
HOPE Hotline.

NEARLY

186

Page views on
MakingHome
Affordable.gov.

MILLION
9

Making Home Affordable: Servicer Results
Program Performance Report Through April 2014

Making Home Affordable Programs by Servicer
HAMP First Lien Modifications

Principal Reduction Alternative
(PRA)9

Second Lien
Modification (2MP)

Home Affordable
Foreclosure
Alternatives (HAFA)10

Trials
Started8

Permanent
Modifications
Started8

Trials
Started

Permanent
Modifications
Started

Second Lien
Modifications
Started

Non-GSE Transactions
Completed

Bank of America, N.A.

232,374

104,749

7,586

6,507

35,619

45,922

CitiMortgage, Inc.

129,880

65,080

4,504

3,763

16,421

1,262

JPMorgan Chase Bank, N.A.

316,023

190,491

28,167

25,650

38,021

35,971

Nationstar Mortgage LLC

196,573

133,419

7,467

7,079

3,909

6,253

Ocwen Loan Servicing, LLC

382,575

276,544

74,662

61,314

N/A

15,224

Select Portfolio Servicing, Inc.

111,567

70,265

9,064

7,657

N/A

9,219

Wells Fargo Bank, N.A.

315,496

193,719

31,069

27,400

20,728

28,078

Other Servicers

509,990

330,467

11,576

9,915

19,007

15,207

2,194,478

1,364,734

174,095

149,285

133,705

157,136

Servicer

Total

N/A - Servicer does not participate in the program.

See Appendix for Terms and Methodology, Program Notes, End Notes and additional information on servicer participants in Making Home Affordable programs.

Making Home Affordable: Servicer Results
Program Performance Report Through April 2014

HAMP Modification Activity by Servicer and Investor Type

Total Active Modifications

All HAMP
Trials
Started8

HAMP
Permanent
Modifications
Started8

Active Trial
Modifications11

Active
Permanent
Modifications

GSE

Private

Portfolio

Total

Bank of America, N.A.

232,374

104,749

3,261

69,779

23,945

33,749

15,346

73,040

CitiMortgage, Inc.

129,880

65,080

1,990

46,792

28,282

6,333

14,167

48,782

JPMorgan Chase Bank, N.A.

316,023

190,491

2,485

142,001

64,977

49,117

30,392

144,486

Nationstar Mortgage LLC

196,573

133,419

5,951

97,212

57,245

42,946

2,972

103,163

Ocwen Loan Servicing, LLC

382,575

276,544

13,950

187,641

38,446

149,283

13,862

201,591

Select Portfolio Servicing, Inc.

111,567

70,265

3,160

40,938

455

39,324

4,319

44,098

Wells Fargo Bank, N.A.

315,496

193,719

5,470

142,551

55,672

30,543

61,806

148,021

Other Servicers

509,990

330,467

9,031

223,633

172,058

26,485

34,121

232,664

2,194,478

1,364,734

45,298

950,547

441,080

377,780

176,985

995,845

Servicer

Total

Making Home Affordable: Servicer Results
Program Performance Report Through April 2014

Servicer Outreach to HAMP Eligible 60+ Day Delinquent Homeowners: Cumulative Servicer Results, April 2013 – March 2014
Per program guidance, servicers are directed to establish Right Party Contact (RPC) with homeowners of delinquent HAMP eligible loans 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%
90%

89%

94%

88%

86%

88%

85%

80%
70%

65%

60%
50%
40%

79%

86%

82%

76%

65%

61%

30%

64%

SPS

Wells Fargo

20%
10%
0%

Bank of America

CitiMortgage

JPMorgan Chase

Right Party Contact Ratio
Source: Survey of top participating servicers as of March 2014.

Nationstar

Ocwen

HAMP Evaluations Complete Ratio
12

Making Home Affordable: Servicer Results
Program Performance Report Through April 2014

HAMP Average Homeowner Delinquency at Trial Start
Servicers are instructed to follow a series of steps in order to evaluate homeowners for HAMP, including:
• Identifying and soliciting 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 homeowner for a HAMP trial; and,
• Communicating decisions to the homeowner.
Effective October 1, 2011, 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.
350

Maximum servicer incentive is
paid for converting a
permanent modification that
was 120 days delinquent or
less at trial start.

300

Days Delinquent

250

200

150

100

Bank of America

CitiMortgage

JPMorgan Chase

Nationstar

Ocwen

SPS

Wells Fargo

Making Home Affordable: Servicer Results
Program Performance Report Through April 2014

HAMP Conversion Rate
Per program guidelines, effective June 1, 2010, all trials must be started using verified income documentation. Servicers have converted most
eligible trials to permanent modifications. Prior to June 1, 2010, some servicers initiated trials using stated income information. Of trials started
prior to June 1, 2010, 44% have converted to permanent modifications.
Of eligible trials started on or after June 1, 2010, 89% have converted to permanent modifications* as of April 2014.
100%

91%

92%

93%
82%

86%
80%

Conversion Rate

75%

50%

25%

Bank of America CitiMortgage JPMorgan Chase

Nationstar

Ocwen

SPS

Wells Fargo

For trials started on or after June 1, 2010 the average length of a trial is 3.5 months.
* With

another 2% pending processing or decision.

Making Home Affordable: Servicer Results
Program Performance Report Through April 2014

Disposition Path of Homeowners Not in HAMP
Survey Data For Actions Completed Through March 2014 12 (Top Servicers)
100%

•

HAMP guidance requires that
servicers evaluate homeowners
with eligible loans for HAMP,
before considering other
foreclosure alternatives.
For those homeowners that did
not qualify for HAMP or did not
successfully complete the trial
period, 59% received an
alternative modification or
resolved their delinquency.

% of Trials Cancelled and Not Approved

Status of Homeowners Not Accepted
for a HAMP Trial or Those Whose
HAMP Trial was Cancelled

80%

60%

•

HAMP guidance requires that a servicer
work with a delinquent homeowner in
a permanent modification to cure the
delinquency.
In the event the homeowner cannot
bring a delinquent HAMP modification
current without additional assistance,
the servicer is prevented from
commencing foreclosure proceedings
until the borrower is evaluated for any
other loss mitigation action.
The majority of homeowners who
disqualify from a HAMP permanent
modification receive an alternative to
foreclosure or resolve their
delinquency. Approximately one
quarter have been referred to
foreclosure.

11%

10%

14%

13%

40%

20%

50%

11%
2%
2%
4%
3%
1%
Bank of America CitiMortgage JPMorgan Chase
213,972

713,747

13%

60%

19%

14%

8%
19%

29%

3%
4%

SPS

5%
2%
Wells Fargo

Top Servicers

540,158

102,299

428,212

2,632,705

10%

18%

14%

11%

3%
4%

13%

Nationstar

Ocwen

244,774

14%

11%

4%
21%

14%

25%
21%
25%

9%
3%
7%

39%

14%

20%

Servicer
Totals

30%

8%
10%

10%

13%

18%

40%

26%

31%

18%

100%

39%

Foreclosure
Completions

36%

25%

80%

12%

5%
12%

45%
20%

24%

17%

29%

20%

389,543

19%

14%

18%

13%

12%

26%

Servicer
Totals

% of Permanent Modifications Disqualified

•

4%
2%

Status of Homeowners with
Disqualified HAMP Permanent
Modification

31%

22%

21%

11%

Bank of America CitiMortgage JPMorgan Chase
31,247

13,381

36,944

46%

Alternative
Modification/
Payment Plan
Borrower
Current/
Loan Payoff
Action Not
Allowed –
Bankruptcy in
Process
Action Pending

36%

8%
10%

5%
8%

Short Sale/
Deed in Lieu

37%

14%

10%
13%

45%

Foreclosure
Starts

16%

22%

9%
6%

11%
6%
11%

Nationstar

Ocwen

SPS

Wells Fargo

Top Servicers

32,477

73,794

25,401

44,995

258,239

MHA Servicer Assessment
Overview

Background
Since the Making Home Affordable Program’s (MHA) inception in the spring of
2009, Treasury has monitored the performance of participating mortgage
servicers. Treasury has been publicly reporting information about servicer
performance through two types of data: compliance data, which reflects servicer
compliance with specific MHA guidelines; and program results data, which
reflects how timely and effectively servicers assist eligible homeowners and
report program activity.
When MHA began, most servicers did not have the staff, procedures, or systems
in place to respond to the volume of homeowners struggling to pay their
mortgages, or to respond to the housing crisis generally. Very few mortgage
modifications were even occurring. Treasury sought to get servicers to join MHA
and to improve their operations quickly, so as to implement a national mortgage
modification program.
Through ongoing compliance reviews, Treasury requires participating servicers to
take specific actions to improve their servicing processes, as needed. In June of
2011, Treasury began publishing quarterly servicer assessments for the top
servicers participating in MHA to drive servicers to improve their performance.
The assessments not only provide greater transparency to the public about
servicer performance in the program, but also prompt servicers to correct
identified instances of non-compliance.
Starting with the third quarter of 2013, the servicer assessments have been
enhanced to, among other things, present new compliance metrics and related
benchmarks. These changes will provide additional insight into the impact of
servicer performance on the borrower’s experience, allow for trending analysis of
all compliance metrics and foster further improvement in servicer performance
by tightening performance benchmarks.
The changes include:
• expanding the coverage of certain existing metrics to include other MHA
components, such as HAMP Tier 2, and the Second Lien Modification Program;
• tightening the performance benchmark thresholds for existing metrics; and
• removing three existing metrics while adding three new metrics.
Servicer participation in MHA is voluntary, based on a contract with Fannie Mae
as financial agent on behalf of Treasury. Although Treasury does not regulate
these institutions and does not have the authority to impose fines or penalties,
Treasury can, pursuant to the contract, take certain remedial actions against

servicers not in compliance with MHA guidelines. Such remedial actions include
requiring servicers to correct identified instances of noncompliance, as noted
above. In addition, Treasury can implement financial remedies such as
withholding incentive payments owed to servicers. Such incentive payments,
which are the only payments Treasury makes for the benefit of servicers under
the program, include payments for every successful permanent modification
under HAMP, and payments for completed short sale/deed-in-lieu transactions
pursuant to HAFA.
It is important to note that Treasury’s compliance work related to MHA applies
only to those servicers that have agreed to participate in MHA for mortgage loans
that are not owned or guaranteed by Fannie Mae or Freddie Mac (the GSEs).
Treasury cannot and does not perform compliance reviews of (1) mortgage loans
or activities that fall outside of MHA, (2) GSE loans or (3) those loans insured
through the Federal Housing Administration. For each servicer, the loans that
are eligible for MHA represent only a portion of that servicer’s overall mortgage
servicing operation.
Treasury’s foremost goal is to assist struggling homeowners who may be eligible
for MHA. These servicer assessments have set a benchmark for providing
detailed information about how mortgage servicers are performing against
specific metrics. But, in addition to this direct effect, MHA has had an important
indirect effect on the market as well. MHA has established standards that have
improved mortgage modifications across the industry, and has led to important
changes in the way mortgage servicers assist struggling homeowners generally.
These changes include standards for how mortgage modifications should be
designed so that they are sustainable, standards for communications with
homeowners so that the process is as efficient and as understandable as possible,
and a variety of standards for protecting homeowners, such as prohibitions on
“dual tracking” – simultaneously evaluating a homeowner for a modification
while proceeding to foreclose. Treasury believes these assessments will continue
to set the standard for transparency about mortgage servicer efforts to assist
homeowners.
Below are general descriptions of the data, the evaluation process, and the
consequences for servicers needing improvement.
(Continued on next page)

MHA Servicer Assessment
Overview

The Performance Data: Compliance and Program Results
Freddie Mac, acting as Treasury’s compliance agent for MHA, has created a
separate division known as Making Home Affordable–Compliance (MHA-C) to
evaluate servicer performance through reviews of program compliance. MHA-C
tests and evaluates a range of servicer activities for compliance with MHA
guidelines. Once MHA-C’s reviews are complete, MHA-C shares its results with the
servicers and identifies areas that need remediation. The compliance activities
tested fall into one of three overall compliance categories – Identifying and
Contacting Homeowners, Homeowner Evaluation and Assistance, and Program
Management and Reporting. The compliance results shared with the servicers are
then used to generate the servicer assessments.
The assessments highlight particular compliance activities tested by MHA-C and
include for those highlighted activities a one star, two star, or three star rating for
the most recent evaluations. One star means the servicer did not meet Treasury’s
benchmark required for that particular activity, and the servicer needs substantial
improvement in its performance of that activity. Two stars mean the servicer did
not meet Treasury’s benchmark required for that particular activity, and the
servicer needs moderate improvement in its performance of that activity. Three
stars mean the servicer met Treasury’s benchmark required for that particular
activity, but the servicer may nonetheless need minor improvement in its
performance of that activity.
Although the compliance reviews emphasize objective measurements and
observed facts, compliance reviews still involve a certain level of judgment.
Compliance reviews are also retrospective in nature – looking backward, not
forward, which means that activities identified as needing improvement in a given
quarter may already be under remediation by the servicer. In addition, the
compliance reviews use “sampling” as a testing methodology. Sampling, an
industry-accepted auditing technique, looks at a subset of a particular population
of activity transactions, rather than the entirety of the population of activity
transactions, to assess a servicer’s overall performance in that particular activity.
In addition to the ratings for compliance data, the assessments also include
program results metrics. Fannie Mae, acting as Treasury’s program administrator
for MHA, collects servicer data used to measure program results. These metrics
are key indicators of how timely and effectively servicers assist eligible
homeowners under MHA guidelines and report program data. Although the

servicers are not given an overall rating for this data, the results metrics
nonetheless compare a servicer’s performance for a given quarter against the
other top servicers participating in the program.
The Determination Process: Results of the Data
Treasury reviews the compliance data and ratings, the program results metrics,
and other relevant factors affecting servicer performance (including, but not
limited to, a servicer’s progress in implementing previously identified
improvements) in determining whether a servicer needs substantial improvement,
moderate improvement, or minor improvement to its overall performance under
MHA guidelines. The assessments summarize the significant factors impacting
those decisions. Based on those assessments, Treasury may take remedial action
against servicers. Page 18 summarizes the overall level of improvement needed
for each servicer.
Consequences for Servicers
For servicers in need of substantial improvement, Treasury will, absent
extenuating circumstances, withhold financial incentives owed to those servicers
until they make certain identified improvements. In certain cases, particularly
where there is a failure to correct identified problems within a reasonable time,
Treasury may also permanently reduce the financial incentives. Servicers in need
of moderate improvement may be subject to withholding in the future if they fail
to make certain identified improvements. All withholdings apply only to incentives
owed to servicers for their participation in MHA; these withholdings do not apply
to incentives paid to servicers for the benefit of homeowners or investors.
Additional Information
See the “Metrics Description” on page 29 for a description of each of the
compliance metrics presented in the assessments.
For more information on the assessments, please visit: www.FinancialStability.gov.

MHA Servicer Assessment:
Compliance Results

1st Quarter 2014 Servicer Assessment Results
The following table details the results of the Servicer Assessments:
Improvement Needed

Servicer Name

Minor

None

Moderate

Bank of America, N.A
CitiMortgage, Inc.
JPMorgan Chase Bank, N.A.
Nationstar Mortgage LLC
Ocwen Loan Servicing, LLC
Select Portfolio Servicing, Inc.
Wells Fargo Bank, N.A.

Substantial

None

For the first quarter of 2014, Bank of America, N.A, CitiMortgage, Inc., JPMorgan Chase Bank, N.A, Nationstar Mortgage LLC, Ocwen
Loan Servicing, LLC, Select Portfolio Servicing, Inc. and Wells Fargo Bank, N.A were found to need moderate improvement.
Please refer to the following MHA Servicer Assessment pages for further detail on this quarter’s servicer assessment results.

MHA Servicer Assessment: Bank of America, N.A.
Compliance Results

Overview

Q1 2014BOAResult

 Servicer results reflect percentages of tests that did not have a desired outcome.

Performance Category
8



Identifying and Contacting Homeowners

Metric
 Single Point of Contact Assignment % Noncompliance

Assesses whether the servicer identifies and
communicates appropriately with potentially
eligible MHA homeowners.

Percentage of loans reviewed where MHA-C did not concur that the servicer had assigned a Single
Point of Contact to a borrower in accordance with MHA guidelines
 Second Look % Disagree
Percentage of loans reviewed where MHA-C did not concur with servicer's MHA determination for
applicable programs
 Second Look % Unable to Determine
Percentage of loans reviewed where MHA-C was not able to conclude on the servicer's MHA

determination for applicable programs
12





Homeowner Evaluation and Assistance
Assesses whether servicer correctly evaluates
homeowners' eligibility for MHA programs and
accurately communicates decisions.

Program Management and Reporting
Assesses whether the servicer has effective program
management and submits timely and accurate
program reports and information.

 Income Calculation Error %
Percentage of loans for which MHA-C's income calculation differs from the servicer's by more than 5%
for applicable programs
 Non-Approval Notice % Noncompliance
Percentage of loans reviewed where MHA-C did not concur with completion and accuracy of the
notices sent to borrowers communicating reasons for non-approval, in accordance with MHA
guidelines
 Incentive Payment Data Errors
Average percentage of differences in calculated incentives resulting from data discrepancies between
servicer files and the MHA system of record for applicable programs
 Disqualified Modification % Noncompliance
Percentage of loans reviewed where MHA-C did not concur with servicer's processing of defaulted
HAMP modifications, in accordance with MHA guidelines

Rating Legend


Did not meet benchmark; substantial improvement needed



Did not meet benchmark; moderate improvement needed

 Met benchmark; minor improvement may be indicated

Q1 2014BOARating

Q1 2014

 These metrics reflect the results of compliance reviews of servicers' adherence to MHA Program Requirements.

Q1 2014
First Quarter 2014

Servicer Result

Rating

5.0%

1.4%

***

2.0%

1.4%

***

2.0%

0.0%

***

2.0%

3.0%

5.0%

1.5%

***

2.0%

1.8%

***

5.0%

2.0%

***

Benchmark

Q1 Results
 Bank of America, N.A. has areas requiring moderate improvement.
 After considering all relevant factors, Bank of America, N.A. servicer incentives will
not be withheld at this time.

MHA Servicer Assessment: CitiMortgage, Inc.
Compliance Results

Overview

Q1 2014CITIResult

 Servicer results reflect percentages of tests that did not have a desired outcome.

Performance Category
8



Identifying and Contacting Homeowners

Metric
 Single Point of Contact Assignment % Noncompliance

Assesses whether the servicer identifies and
communicates appropriately with potentially
eligible MHA homeowners.

determination for applicable programs
12





Homeowner Evaluation and Assistance
Assesses whether servicer correctly evaluates
homeowners' eligibility for MHA programs and
accurately communicates decisions.

Program Management and Reporting
Assesses whether the servicer has effective program
management and submits timely and accurate
program reports and information.

Rating Legend


Did not meet benchmark; substantial improvement needed



Did not meet benchmark; moderate improvement needed

 Met benchmark; minor improvement may be indicated

Q1 2014CITIRating

Q1 2014

 These metrics reflect the results of compliance reviews of servicers' adherence to MHA Program Requirements.

Q1 2014
First Quarter 2014

Servicer Result

Rating

5.0%

1.4%

***

2.0%

1.4%

***

2.0%

0.0%

***

2.0%

***

5.0%

2.3%

***

2.0%

0.7%

***

5.0%

16.0%

Benchmark

Q1 Results
 CitiMortgage, Inc. has areas requiring moderate improvement.
 After considering all relevant factors, CitiMortgage, Inc. servicer incentives will
not be withheld at this time.

MHA Servicer Assessment: JPMorgan Chase Bank, N.A.
Compliance Results

Overview

Q1 2014JPMResult

 Servicer results reflect percentages of tests that did not have a desired outcome.

Performance Category
8



Identifying and Contacting Homeowners

Metric
 Single Point of Contact Assignment % Noncompliance

Assesses whether the servicer identifies and
communicates appropriately with potentially
eligible MHA homeowners.

determination for applicable programs
12





Homeowner Evaluation and Assistance
Assesses whether servicer correctly evaluates
homeowners' eligibility for MHA programs and
accurately communicates decisions.

Program Management and Reporting
Assesses whether the servicer has effective program
management and submits timely and accurate
program reports and information.

Rating Legend


Did not meet benchmark; substantial improvement needed



Did not meet benchmark; moderate improvement needed

 Met benchmark; minor improvement may be indicated

Q1 2014JPMRating

Q1 2014

 These metrics reflect the results of compliance reviews of servicers' adherence to MHA Program Requirements.

Q1 2014
First Quarter 2014

Servicer Result

Rating

5.0%

7.9%

2.0%

1.8%

***

2.0%

0.5%

***

2.0%

0.0%

***

5.0%

1.5%

***

2.0%

1.1%

***

5.0%

4.0%

***

Benchmark

Q1 Results
 JPMorgan Chase Bank, N.A. has areas requiring moderate improvement.
 After considering all relevant factors, JPMorgan Chase Bank, N.A. servicer incentives will
not be withheld at this time.

MHA Servicer Assessment: Nationstar Mortgage LLC
Compliance Results

Overview

Q1
Q1
2014NationstarResul 2014NationstarRatin
Q1 2014
Q1 2014

 These metrics reflect the results of compliance reviews of servicers' adherence to MHA Program Requirements.
 Servicer results reflect percentages of tests that did not have a desired outcome.

Performance Category
8



Identifying and Contacting Homeowners

Metric
 Single Point of Contact Assignment % Noncompliance

Assesses whether the servicer identifies and
communicates appropriately with potentially
eligible MHA homeowners.

determination for applicable programs
12





Homeowner Evaluation and Assistance
Assesses whether servicer correctly evaluates
homeowners' eligibility for MHA programs and
accurately communicates decisions.

Program Management and Reporting
Assesses whether the servicer has effective program
management and submits timely and accurate
program reports and information.

Rating Legend


Did not meet benchmark; substantial improvement needed



Did not meet benchmark; moderate improvement needed

 Met benchmark; minor improvement may be indicated

First Quarter 2014

Servicer Result

Rating

5.0%

0.0%

***

2.0%

1.6%

***

2.0%

0.0%

***

2.0%

3.0%

5.0%

0.0%

***

2.0%

0.6%

***

5.0%

0.0%

***

Benchmark

Q1 Results
 Nationstar Mortgage, LLC has areas requiring moderate improvement.
 After considering all relevant factors, Nationstar Mortgage, LLC servicer incentives will
not be withheld at this time.

MHA Servicer Assessment: Ocwen Loan Servicing, LLC
Compliance Results

Overview

Q1
Q1
2014OCWEN*Result 2014OCWEN*Rating
Q1 2014
Q1 2014

 These metrics reflect the results of compliance reviews of servicers' adherence to MHA Program Requirements.
 Servicer results reflect percentages of tests that did not have a desired outcome.

Performance Category
8



Identifying and Contacting Homeowners

Metric
 Single Point of Contact Assignment % Noncompliance

Assesses whether the servicer identifies and
communicates appropriately with potentially
eligible MHA homeowners.

determination for applicable programs
12





Homeowner Evaluation and Assistance
Assesses whether servicer correctly evaluates
homeowners' eligibility for MHA programs and
accurately communicates decisions.

Program Management and Reporting
Assesses whether the servicer has effective program
management and submits timely and accurate
program reports and information.

Rating Legend


Did not meet benchmark; substantial improvement needed



Did not meet benchmark; moderate improvement needed

 Met benchmark; minor improvement may be indicated

First Quarter 2014

Servicer Result

Rating

5.0%

0.0%

***

2.0%

3.5%

2.0%

0.0%

***

2.0%

1.0%

***

5.0%

0.0%

***

2.0%

0.5%

***

5.0%

0.0%

***

Benchmark

Q1 Results
 Ocwen Loan Servicing, LLC has areas requiring moderate improvement.
 After considering all relevant factors, Ocwen Loan Servicing, LLC servicer incentives will
not be withheld at this time.

MHA Servicer Assessment: Select Portfolio Servicing, Inc.
Compliance Results

Overview

Q1 2014SPSResult

 Servicer results reflect percentages of tests that did not have a desired outcome.

Performance Category
8



Identifying and Contacting Homeowners

Metric
 Single Point of Contact Assignment % Noncompliance

Assesses whether the servicer identifies and
communicates appropriately with potentially
eligible MHA homeowners.

determination for applicable programs
12





Homeowner Evaluation and Assistance
Assesses whether servicer correctly evaluates
homeowners' eligibility for MHA programs and
accurately communicates decisions.

Program Management and Reporting
Assesses whether the servicer has effective program
management and submits timely and accurate
program reports and information.

Rating Legend


Did not meet benchmark; substantial improvement needed



Did not meet benchmark; moderate improvement needed

 Met benchmark; minor improvement may be indicated

Q1 2014SPSRating

Q1 2014

 These metrics reflect the results of compliance reviews of servicers' adherence to MHA Program Requirements.

Q1 2014
First Quarter 2014

Servicer Result

Rating

5.0%

0.0%

***

2.0%

1.2%

***

2.0%

0.0%

***

2.0%

6.0%

5.0%

0.0%

***

2.0%

0.4%

***

5.0%

0.0%

***

Benchmark

Q1 Results
 Select Portfolio Servicing, Inc. has areas requiring moderate improvement.
 After considering all relevant factors, Select Portfolio Servicing, Inc. servicer incentives will
not be withheld at this time.

MHA Servicer Assessment: Wells Fargo Bank, N.A.
Compliance Results

Overview

Q1
2014WELLSResult
Q1 2014

 These metrics reflect the results of compliance reviews of servicers' adherence to MHA Program Requirements.
 Servicer results reflect percentages of tests that did not have a desired outcome.

Performance Category
8



Identifying and Contacting Homeowners

Metric
 Single Point of Contact Assignment % Noncompliance

Assesses whether the servicer identifies and
communicates appropriately with potentially
eligible MHA homeowners.

determination for applicable programs
12





Homeowner Evaluation and Assistance
Assesses whether servicer correctly evaluates
homeowners' eligibility for MHA programs and
accurately communicates decisions.

Program Management and Reporting
Assesses whether the servicer has effective program
management and submits timely and accurate
program reports and information.

Rating Legend


Did not meet benchmark; substantial improvement needed



Did not meet benchmark; moderate improvement needed

 Met benchmark; minor improvement may be indicated

Q1
2014WELLSRating
Q1 2014

First Quarter 2014

Servicer Result

Rating

5.0%

3.9%

***

2.0%

2.5%

2.0%

0.1%

***

2.0%

1.0%

***

5.0%

0.9%

***

2.0%

1.1%

***

5.0%

1.0%

***

Benchmark

Q1 Results
 Wells Fargo Bank, N.A. has areas requiring moderate improvement.
 After considering all relevant factors, Wells Fargo Bank, N.A. servicer incentives will
not be withheld at this time.

MHA Servicer Assessment:
Compliance Results

MHA Compliance Results, Loan File Review: 4th Quarter 2010–1st Quarter 2014
Second Look % Disagree*

Servicer
Bank of America, N.A.

Q4
2010

Q1
2011

Q2
2011

Q3
2011

Q4
2011

Q1
2012

Q2
2012

Q3
2012

Q4
2012

Q1
2013

Q2
2013

Q3 2013

Q4 2013

Starting with the third quarter of
2013, the Servicer Assessment has
been enhanced to present new
compliance metrics and related
benchmarks, including a
methodology change to the
metrics on this page. The
coverage of these metrics now
includes additional MHA
components and programs, such
as HAMP Tier 2, and the Second
Lien Modification Program. Thus,
the results of these metrics
starting in Q3 2013 are not
entirely comparable to previous
quarters.

Q1 2014

2.4%

1.5%

0.8%

1.0%

2.0%

1.0%

1.2%

1.3%

0.0%

0.9%

1.4%

CitiMortgage, Inc.

4.0%

2.0%

0.5%

1.5%

1.0%

2.0%

6.7%

1.3%

4.7%

5.6%

4.3%

1.4%

JPMorgan Chase Bank, N.A.

3.9%

1.6%

1.2%

0.0%

0.7%

0.2%

0.0%

0.1%

0.2%

0.7%

1.0%

1.4%

1.8%
1.6%

Nationstar Mortgage LLC

N/A

1.7%

Ocwen Loan Servicing, LLC
Select Portfolio Servicing,
Inc.
Wells Fargo Bank, N.A.

6.3%

6.7%

2.7%

0.0%

0.7%

1.0%

0.0%

0.7%

3.1%

2.3%

3.8%

3.5%

2.0%

0.0%

0.8%

0.0%

0.5%

0.0%

2.0%

1.3%

2.0%

1.7%

4.0%

1.2%

1.7%

1.2%

0.4%

0.0%

0.3%

1.0%

1.3%

3.0%

1.3%

3.0%

4.4%

3.1%

2.5%

Second Look % Unable to Determine**

Servicer
Bank of America, N.A.

Q4
2010

Q1
2011

Q2
2011

Q3
2011

Q4
2011

Q1
2012

Q2
2012

Q3
2012

Q4
2012

Q1
2013

Q2
2013

Q3 2013

Q4 2013

Q12014

19.6%

0.0%

18.8%

8.2%

1.5%

1.0%

0.0%

CitiMortgage, Inc.
JPMorgan Chase Bank,
N.A.
Nationstar Mortgage LLC

12.3%

13.3%

5.5%

0.5%

1.0%

0.5%

1.0%

3.8%

6.0%

4.7%

0.0%

16.0%

11.3%

3.2%

0.9%

1.0%

0.7%

1.7%

1.4%

3.8%

3.1%

2.7%

2.0%

0.0%

0.5%

N/A

N.A

N/A

0.0%

Ocwen Loan Servicing, LLC

24.7%

10.3%

3.0%

2.4%

0.0%

1.3%

0.0%

2.0%

0.0%

1.0%

0.0%

Select Portfolio Servicing,
Inc.

17.0%

2.3%

0.3%

0.8%

0.0%

3.0%

0.0%

0.7%

0.0%

1.7%

0.0%

Wells Fargo Bank, N.A.

6.8%

6.0%

1.3%

0.0%

0.8%

1.0%

0.5%

0.3%

0.0%

0.1%

Income Calculation Error Rate***
Q4
2010

Q1
2011

Q2
2011

Q3
2011

Q4
2011

Q1
2012

Q2
2012

Q3
2012

Q4
2012

Q1
2013

Q2
2013

Q3 2013

Q4 2013

Q12014

Bank of America, N.A.

22.0%

13.2%

6.0%

5.0%

2.0%

3.0%

1.0%

3.0%

1.0%

2.0%

3.0%

CitiMortgage, Inc.

8.0%

10.0%

12.0%

6.0%

3.0%

4.0%

1.0%

3.1%

0.0%

1.0%

2.0%

0.0%

2.0%

31.0%

20.6%

6.0%

10.0%

9.0%

0.0%

2.0%

0.0%

1.0%

0.0%

N/A

3.0%

18.0%

33.0%

2.0%

3.0%

0.0%

1.0%

1.3%

0.5%

15.0%

10.0%

3.2%

1.0%

3.0%

2.0%

3.0%

2.0%

0.0%

3.1%

2.1%

3.1%

6.0%

27.0%

4.4%

5.5%

4.0%

2.0%

0.0%

1.0%

1.5%

1.0%

0.5%

1.0%

Second Look % Disagree:
Percentage of loans reviewed
where MHA-C did not concur with
the servicer’s MHA determination.

** Second

Look % Unable to
Determine: Percentage of loans
reviewed where MHA-C was not
able to conclude on the servicer’s
MHA determination.

1.0%

22.0%

Servicer

JPMorgan Chase Bank,
N.A.
Nationstar Mortgage
LLC
Ocwen Loan Servicing,
LLC
Select Portfolio
Servicing, Inc.
Wells Fargo Bank, N.A.

***

Income Calculation Error %:
Percentage of loans for which
MHA-C’s income calculation differs
from the servicer’s by more than
5%.

MHA Servicer Assessment:
Program Results

Quarterly Program Performance Metrics Q2 2013-Q1 2014
Trials Aged 6+ Months (% of Active Trials)
Q2 2013

Q3 2013

Q4 2013

Q1 2014

50.0%
45.0%
40.0%
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
Bank of America, CitiMortgage Inc. JPMorgan Chase
Nationstar
N.A.
Bank, N.A.
Mortgage, LLC

Ocwen Loan
Servicing, LLC

Select Portfolio
Servicing, Inc.

Wells Fargo
Bank, N.A.

This quarterly metric measures trials lasting
six months or longer as a share of all active
trials. These figures include trial
modifications that have been cancelled or
converted to permanent modifications by the
servicer and are pending reporting to the
program system of record. Additionally,
servicers may process cancellations of
permanent modifications for reasons,
including but not limited to, data corrections,
loan repurchase agreements, etc. This
process requires reverting the impacted
permanent modifications to trials in the
HAMP system of record with re-boarding of
some of these permanent modifications in
subsequent reporting periods.

Average Calendar Days to Resolve Escalated Cases
Q2 2013

Q3 2013

Q4 2013

Q1 2014

60
50
40

Days

This quarterly metric measures servicer
response time for homeowner inquiries
escalated to MHA Support Centers. Effective
February 1, 2011, a target of 30 calendar
days was established for non-GSE escalation
cases, including an estimated 5 days
processing by the MHA Support Centers. The
methodology for calculating average days to
respond to escalated cases includes non-GSE
cases escalated on or after February 1, 2011.
Investor denial cases escalated prior to
November 1, 2011, cases involving
bankruptcy and those that did not require
servicer actions are not included in the
calculation of servicer time to resolve
escalations.

30
20
10
0
Bank of
America, N.A.

CitiMortgage JPMorgan Chase Nationstar
Inc.
Bank, N.A.
Mortgage, LLC

Ocwen Loan Select Portfolio
Servicing, LLC Servicing, Inc.

Wells Fargo
Bank, N.A.

MHA Servicer Assessment:
Program Results

Quarterly Program Performance Metrics Q2 2013-Q1 2014
Timely Reporting of Permanent Modifications (% Reported within the Month of Conversion)
Q2 2013

Q3 2013

Q4 2013

Q1 2014

100.0%

This quarterly metric measures the servicer’s
ability to promptly report the conversion
from a trial to a permanent modification.
Untimely reporting of permanent
modification conversions impacts incentive
compensation, including the possible delay of
borrower incentives. In addition, it hinders
the effectiveness of program monitoring and
transparency.

90.0%
80.0%
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
Bank of America, CitiMortgage Inc. JPMorgan Chase
N.A.
Bank, N.A.

Nationstar
Mortgage, LLC

Ocwen Loan
Servicing, LLC

Select Portfolio Wells Fargo Bank,
Servicing, Inc.
N.A.

Missing Permanent Modification Status Reports (%)
This quarterly metric measures the servicer’s
ability to promptly report on the current
status of permanent modifications.
Inconsistent and untimely reporting of
modification status reports may impact
incentive compensation and loan
performance analysis.
Treasury revised its Federally Declared
Disaster (FDD) guidance, allowing servicers to
suspend the reporting of permanent
modification status for loans where the
homeowner was impacted by Hurricane
Sandy or any other FDD. This revised
guidance may impact missing permanent
modification status reporting.

10.0%

Q2 2013

Q3 2013

Q4 2013

Q1 2014

9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
Bank of America, CitiMortgage Inc. JPMorgan Chase
N.A.
Bank, N.A.

Nationstar
Mortgage, LLC

Ocwen Loan
Servicing, LLC

Select Portfolio Wells Fargo Bank,
Servicing, Inc.
N.A.

MHA Servicer Assessment
Description of Metrics
Compliance Metrics

reconsidering borrowers for a modification if they
were not properly solicited or incorrectly evaluated,
Single Point of Contact Assignment % Noncompliance:
retaining documentation to support solicitation efforts
Servicers are required to assign certain delinquent
and eligibility determination, and, if applicable,
borrowers to a Single Point of Contact (SPOC). This
engaging in systemic process remediation. All loans
metric measures the percentage of loans reviewed
categorized as Disagree or Unable to Determine
where MHA-C did not concur that the servicer had
remain on foreclosure hold until the servicer
assigned a SPOC to a borrower in a timely fashion and completes the appropriate corrective actions.
otherwise in accordance with MHA guidelines.
Income Calculation Error %:
For SPOC Assignment Noncompliance results, remedial
actions Treasury requires servicers to take include, but Correctly calculating homeowners’ monthly income is
are not limited to: assigning a SPOC to the borrower, a critical component of evaluating eligibility for MHA,
and correcting system and operational processes such as well as establishing an accurate modification
payment. This metric measures how often MHA-C
that SPOCs are properly assigned to borrowers in a
disagrees with a servicer’s calculation of a borrower’s
timely fashion.
Monthly Gross Income, allowing for up to a 5%
Second Look % Disagree:
differential from MHA-C’s calculations.

remediation in order to deliver accurate non-approval
notices.
Incentive Payment Data Errors:
Treasury provides incentives for servicers, investors,
and homeowners for permanent modifications
completed under MHA. Although intended for
different recipients, all incentives are initially paid to
servicers to distribute to the appropriate parties. Data
that servicers report to the program system of record
is used to calculate the incentives due to servicers,
investors, and homeowners. This metric measures how
data anomalies between servicer loan files and the
reported information affect incentive payments.

For Incentive Payment Data Error results, remedial
actions Treasury requires servicers to take include, but
are not limited to: correcting the identified errors and
Second Look is a process in which MHA-C reviews loans For Income Calculation Errors, remedial actions
correcting system and operational processes such that
not in a permanent modification, to assess the
Treasury requires servicers to take include, but are not accurate data is mapped to its appropriate places in
timeliness and accuracy of the servicer’s borrower
limited to: correcting income errors, requiring the
the program system of record.
outreach and eligibility review in order to verify that
servicer to review their own income calculation
Disqualified Modification % Noncompliance:
the borrower was properly considered, denied or
accuracy, enhancing policies and procedures, and
deemed ineligible for receiving a permanent
Permanent modifications on which borrowers lose
conducting staff training on income calculation.
modification. This metric measures the percentage of
good standing are subsequently disqualified from the
loans reviewed in Second Look where MHA-C did not Non-Approval Notice % Noncompliance:
program. This metric measures the percentage of
concur with a servicer’s solicitation efforts and/or
Correctly communicating reasons for non-approval
loans reviewed where MHA-C did not concur with a
eligibility review.
may affect borrowers’ awareness of other foreclosure servicer’s processing of defaulted HAMP modifications,
alternatives or the ability to challenge the nonin accordance with MHA guidelines.
Second Look % Unable to Determine:
approval. This metric measures the percentage of
For Disqualified Modification results, remedial actions
This metric measures the percentage of loans
loans reviewed where MHA-C did not concur with the
Treasury requires servicers to take include, but are not
reviewed in Second Look for which MHA-C is not able completion or accuracy of the notices sent to
to determine, based on the documentation provided, borrowers communicating reasons for non-approval, in limited to: correcting the status of improperly
disqualified modifications and reporting the corrected
whether the borrower was properly considered,
accordance with MHA guidelines.
data to the program system of record.
denied or deemed ineligible for receiving a permanent
For Non-Approval Notice results, remedial actions
modification.
For more information on the assessments, please visit:
Treasury requires servicers to take include, but are not
www.FinancialStability.gov.
For both Second Look Disagree and Unable to
limited to: correcting the non-approval letter
Determine results, remedial actions Treasury requires template, and engaging in systemic process
servicers to take include, but are not limited to:
29

Making Home Affordable

Program Performance Report Through April 2014

Appendix A1: Terms and Methodology
HAMP Terms and Methodology:

reflected in the current servicer’s population.

Front-End Debt-to-Income Ratio:

Action Pending:

Disqualification:

Includes homeowners who were not approved for a
HAMP trial modification, trial loans that have been
cancelled or permanent modifications that have been
disqualified, but further action has yet to be taken at
this time.

A permanent modification disqualifies from HAMP
when the borrower has missed the equivalent of three
full monthly payments. Once disqualified, the borrower
is no longer eligible to receive HAMP incentives.
However, the terms of the permanent modification
remain the same, and the servicer will continue to work
with the borrower to cure the delinquency or identify
other loss mitigation options.

Ratio of housing expenses (principal, interest, taxes,
insurance and homeowners association and/or condo
fees) to monthly gross income.

Average Delinquency at Trial Start:
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.
Back-End Debt-to-Income Ratio:
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. Homeowners who have a
back-end debt-to-income ratio of greater than 55% are
required to seek housing counseling under program
guidelines.
Conversion Rate:
Ratio of permanent modifications to trials eligible to
convert, defined as 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

Eligible Loans:
Homeowners with HAMP eligible loans, which include
conventional loans that were originated on or before
January 1, 2009; excludes loans with current unpaid
principal balances greater than current conforming loan
limits-current unpaid principal balance must be no
greater than: $729,750 for a single-unit property, 2
units: $934,200, 3 Units: $1,129,250, 4 Units:
$1,403,400; 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.
Evaluation Complete:
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.

Median Monthly Housing Payment:
Principal and interest payment. Before modification
payment is homeowner’s current payment at time of
evaluation.
Payment Plan:
An arrangement with the borrower and servicer that
does not involve a formal loan modification.
RPC:
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.
Total Active:
Reflects active HAMP trials and permanent
modifications.

Making Home Affordable

Program Performance Report Through April 2014

Appendix A2: General Program Notes
General MHA Program Notes:
•

•

MHA Program Effective Dates:
HAMP First Lien: April 6, 2009
PRA: October 1, 2010
2MP: August 13, 2009
HAFA: April 5, 2010
1MP, PRA, Treasury FHA-HAMP, RD-HAMP, 2MP,
and HAFA Program Metrics: Data includes activity
reported into the HAMP system of record through
the end of cycle for the current reporting month,
though the effective date may occur in the following
month.

MHA First Lien Program Notes:
•

•

MHA First Lien Permanent Modifications Started
includes: HAMP Tier 1, HAMP Tier 2, GSE Standard
Modifications and both Treasury FHA- and RDHAMP. HAMP Tier 1 includes both GSE and Non-GSE
modifications. The GSEs do no participate in HAMP
Tier 2, however the GSE Standard Modification is
similar to HAMP Tier 2. FHA-HAMP and RD-HAMP
are similar to HAMP Tier 1.
GSE Standard Modification data is provided by
Fannie Mae and Freddie Mac as of April 2014. The
GSEs undertake other foreclosure prevention
activities beyond their participation in MHA which is
not reflected in this report. Per the Federal Housing
Finance Agency’s Foreclosure Prevention Report for
the Fourth Quarter of 2013, since 4Q 2008, the GSEs
have completed nearly 1.6 million permanent
modifications, which includes their activity under

program implemented in November 2012. GSE
Standard HAFA data provided by Fannie Mae and
Freddie Mac as of April 2014. It does not include
other GSE short sale and deed-in-lieu activity
outside the HAFA program. Per the Federal Housing
Finance Agency’s Foreclosure Prevention Report for
the Fourth Quarter of 2013, since 4Q 2008 the GSEs
have completed more than 550,000 short sales and
deed-in-lieu of foreclosure actions, which includes
their activity under MHA. Please visit
www.FHFA.gov for the complete FHFA report.

MHA. Please visit www.FHFA.gov for the complete
FHFA report.
Treasury FHA-HAMP Program Notes:
•

The FHA undertakes other foreclosure prevention
activities beyond their participation in MHA which is
not reflected in this report. As reported in the May
2014 edition of the Obama Administration’s Housing
Scorecard, FHA has offered 2.3 million loss
mitigation and early delinquency interventions
through April 2014 since April 2009, which includes
their activity under MHA.

•

2MP Program Notes:
•

Number of modifications started is net of
cancellations, which are primarily due to servicer
data corrections.

•

2MP loans previously reported under top servicers
that were transferred to or acquired by nonparticipating 2MP servicers are reflected in “Other
Servicers.”

•

Borrowers with an active 1MP permanent
modification who have also received a 2MP
modification realize a higher monthly payment
reduction on their first lien compared to the overall
population of 1MP borrowers as the median first
lien unpaid principal balance is higher.

HAFA Program Notes:
•

The debt relief represents the obligation relieved by
the short sale or deed-in-lieu transaction and is
calculated as the unpaid principal balance and
allowable transactions costs less the property sales
price. The allowable transaction costs may include
release of any subordinate lien, borrower relocation
assistance, sales commission, and closing costs for
taxes, title, and attorney fees.

PRA Program Notes:
•

Eligible loans include those receiving evaluation
under HAMP PRA guidelines plus loans that did not
require an evaluation but received principal
reduction on their modification.

UP Program Notes:
•

Data is as reported by servicers via survey for UP
participation through March 2014.

Unless otherwise noted, HAFA Transactions
Completed includes GSE activity under the MHA
program in addition to the GSE Standard HAFA

Making Home Affordable

Program Performance Report Through April 2014

Appendix A3: End Notes
SUMMARY AND PROGRAM RESULTS:
1.

This does not include trial modifications that have
cancelled or not yet converted to permanent
modifications, or HAFA transactions started but
not yet completed.

Servicers may enter new trial modifications into
the HAMP system of record at any time.

Includes some modifications with additional
principal reduction outside of HAMP PRA.

Under HAMP PRA, principal reduction vests over a
3-year period. The amounts noted reflect the
entire amount that may be forgiven.

Principal amount reduced as a percentage of
before-modification UPB, excluding capitalization.

Subject to investor restrictions. Effective February
1, 2013, Supplemental Directive 12-09 expanded
the acceptable DTI range for Tier 2 to 10-55%.

For active permanent modifications. Median %
reflects percent of the median monthly payment
before modification.

SERVICER RESULTS:
8.

As reported into the HAMP system of record by
servicers. Excludes Treasury FHA-HAMP
modifications. Totals reflect impact of servicing
transfers. Servicers may enter new trial
modifications into the HAMP system of record at
any time.

vary based on the investor composition of the
servicer’s portfolio and respective policy with
regards to PRA.
10. Includes Non-GSE activity under the MHA program
only. Servicer GSE program data not available.
11. These figures may include trial modifications that
have been converted to permanent modifications,
but not reported as such in the HAMP system of
record. Additionally, servicers may process
cancellations of permanent modifications for
reasons, including but not limited to, data
corrections, loan repurchase agreements, etc. This
process requires reverting the impacted
permanent modifications to trials in the HAMP
system of record with re-boarding of some of
these permanent modifications in subsequent
reporting periods. Prior to being re-boarded as
permanent modifications, these modifications are
reported as Active Trials.
12. Data is as reported by servicers for actions
completed through March 2014 and reflects the
status of homeowners as of that date; a
homeowner's status may change over time.
Survey data is not subject to the same data quality
checks as data uploaded into the HAMP system of
record. Excludes cancellations and
disqualifications pending data corrections and
loans otherwise removed from servicing
portfolios.

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

Making Home Affordable

Program Performance Report Through April 2014

Appendix A4: 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.
AMS Servicing, 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
CUC Mortgage Corporation
DuPage Credit Union
Fay Servicing, LLC
Fidelity Homestead Savings Bank
First Bank
First Financial Bank, N.A.
Franklin Credit Management
Corporation
Glass City Federal Credit Union
Great Lakes Credit Union
Greater Nevada Mortgage Services
Green Tree Servicing LLC

Hartford Savings Bank
Hillsdale County National Bank
Horicon Bank
IC Federal Credit Union
Idaho Housing and Finance Association
iServe Residential Lending LLC
iServe Servicing Inc.
JPMorgan Chase Bank, N.A.2
Lake City 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
Pathfinder Bank
PennyMac Loan Services, LLC
PNC Bank, National Association

PNC Mortgage4
Purdue Employees Federal Credit
Union
QLending, Inc.
Residential Credit Solutions
RG Mortgage Corporation
RoundPoint Mortgage Servicing
Corporation
Schools Financial Credit Union
Select Portfolio Servicing, Inc.
Servis One Inc., dba BSI Financial
Services, Inc.
Specialized Loan Servicing, LLC
Sterling Savings Bank
Technology Credit Union
The Golden 1 Credit Union
U.S. Bank National Association
United Bank
United Bank Mortgage Corporation
Vantium Capital, Inc.
Wells Fargo Bank, N.A.5
Yadkin Valley Bank

Bank of America, N.A. includes all loans previously reported under BAC Home Loans Servicing LP,
Bank.
4 Formerly National City Bank.
Home Loan Services and Wilshire Credit Corporation.
2 JPMorgan Chase Bank, N.A. includes all loans previously reported under EMC Mortgage Corporation. 5 Wells Fargo Bank, N.A. includes all loans previously reported under Wachovia Mortgage, FSB.
3 Ocwen Loan Servicing, LLC includes loans previously reported under Litton Loan Servicing LP,
Homeward Residential, Inc., GMAC Mortgage, LLC and also reflects recent acquisitions from OneWest
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Making Home Affordable

Program Performance Report Through April 2014

Appendix A5: Participants in Additional Making Home Affordable Programs
Second Lien Modification Program (2MP)

Bank of America, N.A.1
Bayview Loan Servicing, LLC
CitiMortgage, Inc.
Green Tree Servicing LLC
iServe Residential Lending, LLC
iServe Servicing, Inc.
JPMorgan Chase Bank, N.A.2
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, N.A. 4

FHA First Lien Program (Treasury FHA-HAMP)
Amarillo National Bank
American Financial Resources Inc.
Aurora Financial Group, Inc.
Banco Popular de Puerto Rico
Bank of America, N.A.1
Capital International Financial, Inc.
CitiMortgage, Inc.
CU Mortgage Services, Inc.
First Federal Bank of Florida
First Mortgage Corporation
Gateway Mortgage Group, LLC
Green Tree Servicing, LLC
Guaranty Bank

iServe Residential Lending, LLC
iServe Servicing, Inc.
James B. Nutter & Company
JPMorgan Chase Bank, N.A. 2
M&T Bank
Marix Servicing, LLC
Marsh Associates, Inc.
Midland Mortgage Company
Nationstar Mortgage LLC
Ocwen Loan Servicing, LLC5
PennyMac Loan Services, LLC
PNC Mortgage3
Residential Credit Solutions
Schmidt Mortgage Company
Select Portfolio Servicing, Inc.
Servis One Inc., dba BSI Financial Services, Inc.
Stockman Bank of Montana
Wells Fargo Bank, N.A. 4
Weststar Mortgage, Inc.

Rural Housing Service Modification Program
(RD-HAMP)

Banco Popular de Puerto Rico
Bank of America, N.A.1
Horicon Bank
JPMorgan Chase Bank, N.A.2
Magna Bank
Marix Servicing, LLC
Midland Mortgage Company
Nationstar Mortgage LLC
Wells Fargo Bank, N.A.4

Bank of America, N.A. includes all loans previously reported under BAC Home Loans Servicing LP, Home
Loan Services and Wilshire Credit Corporation.
2 JPMorgan Chase Bank, N.A. includes all loans previously reported under EMC Mortgage Corporation.
3 Formerly National City Bank.
4 Wells Fargo Bank, N.A. includes all loans previously reported under Wachovia Mortgage FSB.
5 Ocwen Loan Servicing, LLC includes loans previously reported under Litton Loan Servicing LP and GMAC
Mortgage, LLC and also reflects recent acquisitions from OneWest Bank.
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Full text of HAMP Performance Summary : Making Home Affordable Program : Program Performance Report, Through April 2014

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