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Making Home Affordable Program Performance Report Fourth Quarter 2015 PROGRAM PERFORMANCE REPORT THROUGH THE FOURTH QUARTER OF 2015 MHA AT-A-GLANCE More than 2.5 Million Homeowner Assistance Actions have taken place under Making Home Affordable (MHA) programs On December 18, 2015, Congress enacted the Consolidated Appropriations Act, 2016 , P.L. 114-113 (the Act). The Act provides that the MHA program will terminate on December 31, 2016, except with respect to certain loan modification applications made before that date. The U.S. Department of the Treasury will provide guidance and clarifications for homeowners and servicers in the coming months. QUARTERLY PROGRAM VOLUMES FOR THE FOURTH QUARTER OF 2015 (Months of October, November, and December) 1MP Q4: 37.6K PTD: 2.0M See Page 4 2MP Q4: 2.2K PTD: 155K See Page 14 HAFA UP Q4: 13.9K PTD: 404K Q4: 0.3K PTD: 45K See Page 15 See Page 16 FOURTH QUARTER 2015 SERVICER ASSESSMENT RESULTS SERVICER MINOR IMPROVEMENT NEEDED MODERATE IMPROVEMENT NEEDED 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 IMPROVEMENT NEEDED See page 18 for additional information and detailed results for this quarter. 2 Making Home Affordable Program Performance Report Fourth Quarter 2015 Table of Contents PROGRAM UPDATES MHA Updates Hardest Hit Fund (HHF) Updates 4 5 HAMP PROGRAM RESULTS: HAMP Summary HAMP Application Outcomes HAMP Modification Characteristics HAMP Tier 1 Payment Adjustment Summary Performance of Permanent HAMP Modifications Homeowners with Disqualified Modifications Drivers of HAMP Performance 6 6 7 8 9-10 10 11 OTHER MHA PROGRAMS: Post-Modification Counseling Principal Reduction Alternative 2MP Program HAFA Program Unemployment Program 12 13 14 15 16 RESULTS BY SERVICER: MHA Program Activity by Servicer and Investor Servicer Assessment Results 17 18-24 APPENDIX: Program and Servicer Assessment Notes Compliance Criteria Tested Terms and Methodologies End Notes HAMP Activity by State HAMP Tier 1 Scheduled Interest Rate Increases by State HAMP Performance Data by Vintage HAMP Activity by MSA Note: For more information and quarterly updates about HHF, please visit the program website or the TARP Monthly Report to Congress. For information and quarterly updates about efforts taken by the Government Sponsored Enterprises (GSEs) beyond their participation in MHA which is not reflected in this report please visit the Federal Housing Finance Agency’s Foreclosure Prevention Report. For information on efforts undertaken by the Federal Housing Administration (FHA) please visit its website. A-1 A-2 A-3 A-4 A-5 A-6 A-7 A-8 3 Making Home Affordable Program Performance Report Fourth Quarter 2015 MHA Program Updates • During the fourth quarter of 2015, participating servicers prepared to implement Streamline HAMP with a January 1, 2016 effective date. This included establishing a written policy consistent with investor guidelines, evaluating servicing portfolios for eligibility, and determining the date by which the servicer will begin making Streamline HAMP offers to borrowers. • The MHA Servicer Assessment results for the fourth quarter of 2015 begin on page 18. Servicers either sustained or improved their overall performance, as compared to the prior quarter. Two servicers moved from needing moderate improvement to needing minor improvement. One servicer moved from needing substantial improvement to needing moderate improvement, resulting in the release of previously withheld financial incentive payments. The other four servicers were found to require moderate improvement. MHA Program Activity Program-to-Date Q4 2015 QoQ % Change 1,950,017 37,557 -26% HAMP Tier 1 1,420,995 11,023 -17% HAMP Tier 2 144,728 12,657 -18% GSE Standard Modifications (SAI) 277,329 7,590 -18% Treasury FHA and RD HAMP 106,965 6,287 -51% 2MP Modifications Started 154,683 2,241 -22% HAFA Transactions Completed 403,843 13,884 -14% UP Forbearance Plans Started 44,990 348 -45% 2,553,533 54,030 -23% MHA First Lien Permanent Modifications Started Cumulative Activity Quarterly Trending of MHA Permanent Modifications Started & Estimated Number of Loans 60+ Days Delinquent* 3.0 60 50 2.5 40 30 2.0 20 Delinquent Loans (Millions) Permanent Modifications (Thousands) 70 10 0 Q3 2014 HAMP TIER 1 NON-GSE 1.5 Q4 2014 Q1 2015 Q2 2015 HAMP TIER 1 GSE HAMP TIER 2 Q3 2015 Q4 2015 GSE SAI FHA/RD-HAMP 60+ Days DLQ *Derived from the Mortgage Bankers Association Quarterly National Delinquency Survey. 4 Making Home Affordable Program Performance Report Fourth Quarter 2015 Hardest Hit Fund Program Update The Hardest Hit Fund Program (HHF) currently provides $7.6 billion to 18 states and the District of Columbia to develop locally tailored programs to assist struggling homeowners in their communities. In February 2016, the Treasury announced that it will commit up to $2 billion to existing HHF participants, as authorized by the Consolidated Appropriations Act, 2016. For more details, click here. Unlike the MHA programs which are national in scope, the HHF sought to address state-by-state differences in the housing crisis. Treasury designed HHF to capitalize on Housing Finance Agencies’ (HFAs) on-the-ground understanding of the conditions in their communities to create programs they determine will most effectively help prevent foreclosures and stabilize housing markets. For further information on the Hardest Hit Fund, please visit the website. HHF States Have Assisted Nearly 250,000 Homeowners (Program activity through December 31, 2015) 11.8K 29.3K 3.1K 24.5K 5.3K 14.0K 6.0K 6.9K 56.2K DC: 7.6K 21.1K 0.7K 7.4K 4.2K 10.4K 3.6K 4.4K 7.4K 24.8K Key: Source: Q4 2015 HHF Quarterly Performance Reports -Unique Applicants Assisted How Do Treasury’s Hardest Hit Fund Programs Interact with MHA? HFAs design and administer the HHF programs that interact with MHA. HHF funds may be used to facilitate a HAMP modification in states where principal reduction is offered. Treasury provides guidance to servicers regarding MHA – HHF interactions. HFAs work with housing counseling agencies and servicers to help homeowners find a solution that meets their needs, including assistance through MHA and HHF programs. • In addition, the Homeowner’s HOPE Hotline™ includes information about HHF assistance in its scripting. When a homeowner from an HHF state contacts the Hotline and is in need of assistance, he or she receives MHA and HHF assistance information and a referral to the state’s HFA. • • • • 5 Making Home Affordable: HAMP Program Results Program Performance Report Fourth Quarter 2015 HAMP Summary All Trials Started1 2,395,672 Tier 1 2,221,979 Tier 2 173,693 Active Trials 30,844 Trial Modifications Trial Modifications Cancelled Since Verified Income Requirement* Permanent Modifications All Permanent Modifications Started 101,858 1,565,723 Permanent Modifications Disqualified (Cumulative)** 507,359 Active Permanent Modifications 979,976 * When Treasury launched HAMP in the spring of 2009, the housing crisis was severe. The number of homeowners already in default was high and servicers had not yet built systems to fully implement a national mortgage modification program. In an effort to provide assistance to struggling homeowners as soon as possible, servicers were not required to verify a homeowner’s income prior to commencing a trial modification. This resulted in many trials being cancelled if the homeowner could not ultimately provide the requisite documentation. Beginning in June 2010, servicers were required to verify a homeowner’s income prior to offering trial modifications, which substantially reduced the number of trial cancellations. Prior to that date, 697,247 trials were cancelled, for a cumulative 799,105 trials cancelled program-to-date. ** Does not include 74,398 loans paid off and 3,990 loans withdrawn. Outcome for Homeowners Who Did Not Receive a HAMP Modification While not all homeowners qualify for HAMP, many have found alternative solutions to their delinquency. For homeowners who were not approved for a HAMP trial modification, or for those whose HAMP trial modifications were cancelled: • 58% received an alternative modification or resolved their delinquency. • 22% were referred to foreclosure. Status of Homeowners Not Accepted for a HAMP Trial Modification or Those Whose HAMP Trial Modification was Cancelled 4% 19% 2% Action Pending Action Not Allowed – Bankruptcy in Process 3% Borrower Current / Loan Payoff 34% 14% Alternative Modification / Payment Plan Short Sale / Deed-in-Lieu Foreclosure Starts 24% Source: Survey data from large servicers2 Foreclosure Completions 6 Making Home Affordable: HAMP Program Results Program Performance Report Fourth Quarter 2015 Select HAMP Modification Characteristics* Aggregate payment savings to homeowners who received HAMP first lien permanent modifications are estimated at approximately $41 billion program-to-date, compared with unmodified mortgage obligations. HAMP modifications follow a series of waterfall steps that include capitalization, interest rate adjustment, term extension, and principal forbearance/forgiveness. HAMP has two evaluation tiers: • Under HAMP Tier 1, servicers apply the modification steps in sequence until the homeowner’s postmodification front-end debt-to-income (DTI) ratio is 31%. The impact of each modification step can vary to achieve the target of 31%. • Under HAMP Tier 2, servicers apply the modification steps simultaneously to achieve a post-modification DTI that falls within an allowable range (subject to investor restrictions). HAMP Tier 2 applies to non-GSE mortgages only. *HAMP modification characteristics reflect data at the date of modification. Modification Steps for Permanent Modifications Homeowner Characteristics All permanent modifications reflect some combination of the following modification steps: Characteristic Tier 1 Tier 2 All Median Monthly Gross Income $3,912 $5,019 $3,995 566 560 565 $150,000 $175,000 Modification Step Tier 1 Tier 2 All Interest Rate Reduction 95.8% 70.7% 93.5% Median Credit Score Term Extension 59.9% 83.5% 62.1% Median Property Value $177,400 Principal Forbearance 31.0% 32.3% 31.1% Select Median Permanent Modification Characteristics Loan Before After Characteristic Modification Modification Front-End Debt-to-Income Ratio Median Decrease Additional HAMP Tier 2 Characteristics HAMP Tier 2 provides another modification opportunity for struggling homeowners who do not qualify for a HAMP Tier 1 modification, or for those who lose good standing (by missing three payments) on their HAMP Tier 1 modification. Of the HAMP Tier 2 trial modifications started: Tier 1 43.9% 31.0% -13.4 pct pts Tier 2 28.1% 21.1% -6.6 pct pts All 43.1% 31.0% -12.5 pct pts • 27% were previously in a HAMP Tier 1 trial or permanent modification. • 11% were previously evaluated for HAMP Tier 1 and did not meet eligibility requirements. • 6% were non-owner-occupied properties. Back-End Debt-to-Income Ratio Tier 1 67.5% 50.4% -13.7 pct pts Tier 2 44.0% 36.6% -6.6 pct pts All 65.3% 48.9% -12.8 pct pts Monthly Housing Payment** Tier 1 $1,384.17 $815.01 ($499.97) Tier 2 $1,037.03 $670.98 ($331.03) All $1,352.86 $802.51 ($479.67) **Excludes the impact of any interest rate increases and re-amortization of capitalized homeowner incentives which may begin to occur after the fifth year of the HAMP Tier 1 modification. 7 Making Home Affordable: HAMP Program Results Program Performance Report Fourth Quarter 2015 HAMP Tier 1 Payment Adjustment Summary The HAMP Tier 1 modification was designed to provide relief to homeowners facing a financial hardship by providing a modification that would reduce their monthly mortgage payment to an affordable level. HAMP Tier 1 reduces homeowners’ first lien mortgage payments by approximately 36% of the median before-modification payment. Under HAMP Tier 1, servicers apply a uniform loan modification waterfall to achieve a monthly mortgage payment of 31% DTI: capitalization, principal forgiveness (optional), interest rate reduction, term extension, principal forbearance. o The interest rate is reduced in increments to achieve the target 31% DTI with an interest rate floor of 2%. o After five years, the interest rate may begin to increase 1% per year (or less) until the Primary Mortgage Market Survey (PMMS) rate at time of modification is reached (PMMS averaged 5.04% in 2009 and 3.85% in 2015), at which time the interest rate will be fixed for the remaining loan term. 80% of HAMP Tier 1 homeowners will experience an interest rate increase after five years. o The first interest rate increase went into effect in Q3 2014 for the earliest group of HAMP modifications. o The majority of HAMP homeowners will experience two to three interest rate increases. o Homeowners who received a modification in 2009-2011 are more likely to experience three to four increases than homeowners who received a modification in 2012-2013, most of whom will experience two increases. o The median amount of the first monthly payment increase is $93, and the median monthly payment increase after the final interest rate increase is $206. Through December 2015, approximately 287,000 homeowners have experienced an interest rate step-up. o Based on early results, the rate increase does not appear to have an impact on the performance of these modifications. The percentage of modifications disqualifying in the month following the reset remains consistent with the months leading up to the reset, at less than or equal to 1%. • • • • Number of Interest Rate Increases by Quarter* 160,000 140,000 Number of Loans 120,000 100,000 80,000 60,000 40,000 20,000 0 First Increase Second Increase Third Increase Fourth Increase * As of December 2015. Assumes no future re-defaults of HAMP Tier 1 modifications. See Appendix 6 for additional information on HAMP Tier 1 interest rate increases by state. 8 Making Home Affordable: HAMP Program Results Program Performance Report Fourth Quarter 2015 Performance of HAMP Permanent Modifications Differences in modification characteristics contribute to differences in the performance of HAMP modifications. Those characteristics can also affect the performance of certain vintages and contribute to differences in performance between HAMP Tier 1 and Tier 2. HAMP Tier 1 # Months Post Modification 3 6 12 18 24 30 36 42 48 54 60 HAMP Tier 2 The tables below show the performance of HAMP permanent modifications at various seasoning points for those modifications that have aged to, or past, the number of months noted. It is important to note that far fewer loans have reached these seasoning points for HAMP Tier 2, which was introduced several years after HAMP Tier 1. # Months Post Modification 3 6 12 18 24 30 36 2009 2010 2.1% 6.7% 16.3% 22.9% 28.8% 33.3% 37.6% 41.1% 43.6% 46.0% 47.9% 1.7% 6.7% 15.5% 22.7% 28.0% 32.6% 36.5% 39.3% 41.6% 43.5% 45.5% % of Disqualified HAMP Tier 1 Modifications3 Q1 Q2 2011 2012 2013 2014 2015 2015 1.2% 5.3% 12.7% 18.9% 23.7% 27.3% 30.0% 32.4% 34.6% 37.9% 40.9% 1.0% 4.3% 10.3% 15.3% 19.1% 22.1% 24.6% 27.7% 30.3% 0.8% 3.8% 9.4% 14.0% 17.2% 20.0% 22.2% 1.3% 5.3% 17.2% 23.1% 28.6% 32.0% 34.3% N/A 1.9% 7.7% 17.2% 24.4% 28.8% 32.3% 38.2% Portfolio Private 50% 40% 30% 20% 10% 0% 36 42 48 1.2% 6.5% 15.9% 1.6% 8.4% 1.4% Q3 2015 Q4 2015 2.1% 9.1% 2.0% 1.3% 5.5% 13.1% 19.3% 24.3% 28.5% 32.5% 35.9% 39.0% 42.3% 45.6% ALL 1.7% 7.4% 16.5% 23.6% 28.7% 32.3% 35.8% With Prior Tier 1 Modification 60% 30 1.7% 7.0% 16.1% 22.5% 27.8% 1.3% 5.9% ALL Modifications that were previously modified under HAMP Tier 1 have a higher likelihood of disqualifying from the subsequent Tier 2 modification. 90+ Day Delinquency Rate 90+ Day Delinquency Rate GSE 24 1.4% 5.5% Q4 2015 HAMP Tier 2 Performance by Prior Modification History Modifications of private label security loans have the highest delinquency rates, followed by modifications of portfolio loans and GSE loans. 18 1.0% 4.3% 10.9% % of Disqualified HAMP Tier 2 Modifications3 Q1 Q2 2012 2013 2014 2015 2015 HAMP Tier 1 Performance by Investor 12 1.2% 4.6% 10.5% 14.7% 16.9% Q3 2015 54 60 Months After Conversion to Permanent Modification See Appendix 7 for additional information on HAMP performance by vintage. Without Prior Tier 1 Modification 60% 50% 40% 30% 20% 10% 0% 12 18 24 30 Months After Conversion to Permanent Modification 36 9 Making Home Affordable: HAMP Program Results Program Performance Report Fourth Quarter 2015 Incremental Performance of HAMP Modifications over Time The longer homeowners remain in HAMP without defaulting, the less likely they are to default on their mortgage in the future. For example, the percent of loans active in month 12 that disqualified by month 15 is lower than the percent of loans active in month 6 that disqualified by month 9. Conditional Re-default Rate by Modification Year (% of Active Loans) 3-Month Re-default Rate 6.0% 2009 2010 2011 5.0% 2012 4.0% 2013 2014 3.0% 2.0% 1.0% 0.0% 6 9 12 15 18 21 24 27 30 33 36 39 42 45 48 51 54 57 60 Months After Conversion to Permanent Modification Note: A modification's inclusion in the 3-month re-default rate calculation is conditional on the modification being active at the start of the 3-month period being measured. Homeowners with Disqualified HAMP Permanent Modifications Homeowners now have alternatives due to industry-wide changes instituted since the launch of HAMP. In addition, 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 prohibited from commencing foreclosure proceedings until the homeowner is evaluated for other loss mitigation actions. The majority of homeowners who disqualify from a HAMP permanent modification receive an alternative to foreclosure or resolve their delinquency. Homeowners can also take advantage of other MHA and/or government sponsored assistance programs. Of the homeowners who have missed three payments, and therefore disqualified from HAMP, approximately 25% have been referred to foreclosure. Status of Disqualified HAMP Permanent Modifications 8% 18% Action Pending 4% Action Not Allowed – Bankruptcy in Process Borrower Current / Loan Payoff Alternative Modification / Payment Plan 15% 7% Short Sale / Deed-in-Lieu Foreclosure Starts Foreclosure Completions Source: Survey data from large servicers2 14% 34% 10 Making Home Affordable: HAMP Program Results Program Performance Report Fourth Quarter 2015 Drivers of Performance for HAMP Tier 1 and HAMP Tier 2 Modifications The most significant factor driving HAMP modification performance is the amount of the reduction in the monthly mortgage payment, followed by the length of the homeowner’s delinquency at the start of the trial modification and the homeowner’s credit score at the time of modification. Performance by Monthly Payment Reduction Payment reduction is strongly correlated with permanent modification sustainability. For modifications seasoned 24 months, fewer than 15% of modifications with a monthly payment reduction greater than 50% have been disqualified due to missing three payments, compared to a disqualification rate of nearly 39% where the payment had been cut by 20% or less. <=20% 20%-30% 30%-40% 40%-50% >50% 90+ Day Delinquency Rate 70% 60% 50% 40% 30% 20% 10% 0% 12 18 24 30 36 42 48 54 60 Months After Conversion to Permanent Modification Performance by Credit Score at the Time of Modification Homeowners with credit scores between 580-619 at the time of modification experienced a 19.5% re-default rate in the subsequent 24 months, compared to a rate of 10.1% for homeowners whose credit scores were above 660. < 580 580 - 619 620 - 660 Performance by Delinquency at Trial Start Homeowners who were 31 to 90 days delinquent at the start of the HAMP trial period experienced a 21.8% redefault rate in the subsequent 24 months, compared to 28.2% for homeowners whose delinquency was between 121 and 210 days at trial start. 60% 90+ Day Delinquency Rate 60% 90+ Day Delinquency Rate <= 30 Days 91 - 120 Days > 210 Days > 660 50% 40% 30% 20% 10% 0% 12 18 24 30 36 42 48 54 60 Months After Conversion to Permanent Modification 31 - 90 Days 121 - 210 Days 50% 40% 30% 20% 10% 0% 12 18 24 30 36 42 48 54 60 Months After Conversion to Permanent Modification 11 Making Home Affordable: Other MHA Programs Program Performance Report Fourth Quarter 2015 Post-Modification Counseling Since March 2014, Treasury has required certain HAMP participating servicers to offer free financial counseling to homeowners with non-GSE loans who are either entering a HAMP trial modification, or are in a permanent HAMP modification and are determined to be at risk of re-default. The counseling is designed to help homeowners stay in their modification by addressing the homeowner’s current overall financial situation and the financial hardship that caused the homeowner to default on his or her mortgage loan. Through December 2015, participating servicers have made more than 370,000 referrals to financial counseling. Of these: • 58% are permanent modifications considered by the servicers to be at risk of disqualifying from HAMP, and 42% are new trial modifications. • More than 27,000 referrals started financial counseling resulting in an overall take-up rate of 7.4%. Counseling Referral Activity by Servicer At-Risk New Trials 120,000 100,000 80,000 60,000 40,000 20,000 0 Bank of CitiMortgage, JPMorgan Nationstar Ocwen Loan Select Wells Fargo America, N.A. Inc. Chase Bank, Mortgage LLC Servicing, LLC Portfolio Bank, N.A. N.A. Servicing, Inc. % of Referrals Who Take Up Counseling 3% 9% 17% 2% 5% 9% 9% Other Servicers 10% Note: Data on Post-Modification Counseling is collected from sixteen servicers via survey. Additionally, servicer take-up rates will vary due to timing of referrals and individual servicer program design. 12 Making Home Affordable: Other MHA Programs Program Performance Report Fourth Quarter 2015 The HAMP Principal Reduction Alternative The HAMP Principal Reduction Alternative (PRA) has broadened the use of principal reduction in mortgage modifications as a tool to help underwater homeowners. Servicers of non-GSE loans are required to evaluate the benefit of principal reduction under HAMP PRA for mortgages with a loan-to-value (LTV) ratio greater than 115% when evaluating a homeowner for a HAMP modification. While servicers are required to evaluate homeowners for principal reduction, they are not required to reduce principal as part of the modification. Under HAMP, servicers 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. HAMP Modifications with Earned Principal Reduction Under PRA4 Trials Started with Principal Reduction as a % of Eligible Loans All Permanent Modifications Started Active Permanent Modifications Median Principal Amount Reduced for Permanent Modifications Started5 Median Principal Amount Reduced for Permanent Modifications Started (%)6 Total Outstanding Principal Balance Reduced on Permanent Modifications Started5 90% 84% 80% 71% 70% 61% 60% 50% 53% 42% 42% 65% 77% HAMP Modifications with Upfront Principal Reduction Outside of PRA Total HAMP Modifications with Principal Reduction 205,836 152,766 52,556 39,049 258,392 191,815 $66,578 $53,210 $63,135 32.4% 18.0% 30.6% $18,296,244,323 $3,433,778,864 $21,730,023,187 77% 74% 72% 65% 73% 60% 76% 73% 66% 70% 70% 71% 72% 60% 61% 64% 67% 69% 61% 53% 71% 70% 61% 61% 66% 64% 45% 40% 30% 20% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2011 2011 2011 2012 2012 2012 2012 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 2015 2015 Tier 1 PRA Tier 2 PRA Tier 1 All Principal Reduction Tier 2 All Principal Reduction Modification Characteristics: HAMP vs. HAMP with Principal Reduction All HAMP Modifications Permanent Modifications – Median LTV ratio: - Before Modification 116.3% - After Modification 115.0% Permanent Modifications – Median Before Modification Debt-to-Income (DTI) ratio: - Front-End DTI 43.1% - Back-End DTI 65.3% Total HAMP Modifications with Principal Reduction 142.2% 105.0% 42.4% 54.3% 13 Making Home Affordable: Other MHA Programs Program Performance Report Fourth Quarter 2015 The Second Lien Modification Program The Second Lien Modification Program (2MP) provides additional assistance to homeowners in a first lien permanent modification who have an eligible second lien with a participating servicer, including second liens with a qualifying first lien modified under the GSEs’ Standard Modification program. This assistance can result in a modification of the second lien, as well as a full or partial extinguishment of the second lien. Second lien modifications follow a series of steps that may include capitalization, interest rate reduction, term extension, and principal forbearance or forgiveness. All Second Lien Modifications Started (Cumulative)* 154,683 Second Lien Modifications Involving Full Lien Extinguishments 44,789 Active Second Lien Modifications** 83,266 Active Second Lien Modifications Involving Partial Lien Extinguishments 10,812 * Includes 7,136 loans that have a qualifying first lien GSE Standard Modification. ** Includes 8,845 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. 2MP Modification Characteristics7 Median Monthly Payment Reduction: Second lien official modifications Debt Extinguishment: HAMP homeowners receiving partial or full extinguishment Reduction on second lien only $153 Total Outstanding Principal Balance Extinguished Combined first and second lien reduction $766 Top Three States by Activity: Percent of Total 2MP Modifications Started % of total monthly payment 41% Second lien full extinguishments Combined first and second lien reduction % of total monthly payment $970 51% $3.4B California 34% Florida 10% New York 7% Estimated Eligible 2nd Liens8 2MP Participating Servicer Name 2MP Modifications Started Current Estimated Eligible 2nd Liens Bank of America, N.A. 37,084 3,037 CitiMortgage, Inc. 19,657 2,541 JPMorgan Chase Bank, N.A. 42,922 1,569 8,043 1,339 Wells Fargo Bank, N.A. 23,657 4,790 Other Servicers 23,320 2,405 154,683 15,681 Nationstar Mortgage LLC Total Note: Only five of the seven largest SPA servicers participate in 2MP. 14 Making Home Affordable: Other MHA Programs Program Performance Report Fourth Quarter 2015 The Home Affordable Foreclosure Alternatives Program The Home Affordable Foreclosure Alternatives (HAFA) Program offers incentives and a streamlined process for homeowners looking to exit their homes or sell a rental property through a short sale or deed-in-lieu (DIL) of foreclosure. HAFA has established important homeowner protections and an industry standard for streamlined transactions. Effective November 2012, the GSEs revised their Standard HAFA program to align with Treasury’s HAFA program. In HAFA transactions, homeowners who need to relocate: • Follow a streamlined process for short sales and DIL transactions that requires no verification of income (unless required by investors) and allows for pre-approved short sale terms; • Receive a waiver of deficiency once the transaction is completed that releases the homeowner from remaining mortgage debt; and • Receive $10,000* in relocation assistance at closing. *Prior to February 1, 2015, homeowners received $3,000. HAFA Activity by Investor Type Participating servicers must consider all homeowners denied for HAMP for a short sale or deed-in-lieu of foreclosure through the HAFA program. However, individual investors can impose additional eligibility requirements. Private Short Sale Deed-in-Lieu Total Transactions Completed Portfolio GSE Total 142,514 49,830 159,627 351,971 8,826 4,049 38,997 51,872 151,340 53,879 198,624 403,843 Characteristics of Non-GSE HAFA Activity Non-GSE HAFA Debt Relief & Release of Subordinate Liens Through HAFA, homeowners can be relieved of significant unpaid principal balances. Median Unpaid Principal Balance Before HAFA $274,470 Median Sales Price $165,000 Median Debt Relief $123,787 Median Debt Relief as % of UPB Total Debt Relief (cumulative) 47% $27.1B In addition to satisfying the primary mortgage debt, as part of a HAFA short sale or deed-in-lieu the homeowner must be fully released from liability for subordinate liens. % of HAFA transactions completed that included release of a homeowner’s subordinate liens Total subordinate liens released (cumulative) In 15% of HAFA transactions completed, the homeowner began a HAMP trial modification but later requested a HAFA agreement or was disqualified from HAMP. Non-GSE HAFA Activity by State Top Three States by HAFA Activity: % of HAFA Transactions Completed California 35% Florida 17% Arizona 5% 40% $526.8M 15 Making Home Affordable: Other MHA Programs Program Performance Report Fourth Quarter 2015 The Home Affordable Unemployment Program The Home Affordable Unemployment Program (UP) provides assistance to homeowners who are unable to make their mortgage payments as a result of unemployment. Unemployed homeowners can receive 12 months of forbearance, during which mortgage payments are reduced or suspended, allowing homeowners to seek employment without fear that they will lose their homes to foreclosure. All UP Forbearance Plans Started 44,990 UP Forbearance Plans With Some Payment Required 38,329 UP Forbearance Plans With No Payment Required 6,661 UP Activity by State Top Three States by UP Activity: % of UP Forbearance Plans Started California 24% Florida 7% Illinois 5% Status of Homeowners Who Completed an UP Forbearance Plan 3% 2% 2% 16% 30% Foreclosure Started Foreclosure Completed 1% Short Sale / Deed-in-Lieu Alternative Modification / Payment Plan UP Forbearance Plan Extension New HAMP Trial 23% Borrower Current / Loan Paid Off Other* 23% *Other dispositions include Bankruptcy, Charge-Off, and Action Pending. 16 Making Home Affordable: Results by Servicer Program Performance Report Fourth Quarter 2015 Making Home Affordable Program Activity by Servicer As of December 2015, there are 130 servicers that participate in Treasury’s MHA programs, but seven servicers make up over 85% of non-GSE HAMP modifications. Program activity for these servicers is provided below. Servicer HAMP Tier 1 Permanent Modifications HAMP Tier 2 HAFA10 non-GSE 2MP PRA9 Permanent Transactions Permanent Modifications Modifications Completed Modifications 100,285 4,056 5,715 37,084 49,238 38,608 4,499 4,023 19,657 2,219 JPMorgan Chase Bank, N.A. 171,191 2,438 24,500 42,922 37,397 Nationstar Mortgage LLC 173,799 17,943 10,370 8,043 8,962 Ocwen Loan Servicing, LLC 249,166 62,000 96,949 N/A 25,337 89,676 18,587 15,692 N/A 19,229 Wells Fargo Bank, N.A. 201,587 9,937 30,915 23,657 38,675 Other Servicers 396,683 25,268 17,672 23,320 24,162 1,420,995 144,728 205,836 154,683 205,219 Bank of America, N.A. CitiMortgage, Inc. Select Portfolio Servicing, Inc. Total HAMP Permanent Modifications by Investor HAMP Permanent Modifications Servicer GSE Private Portfolio Total Bank of America, N.A. 39,524 46,525 18,292 104,341 CitiMortgage, Inc. 17,855 8,999 16,253 43,107 JPMorgan Chase Bank, N.A. 75,821 57,814 39,994 173,629 113,578 71,612 6,552 191,742 34,605 254,513 22,048 311,166 673 94,184 13,406 108,263 81,418 44,066 86,040 211,524 Other Servicers 286,550 67,809 67,592 421,951 Total 650,024 645,522 270,177 1,565,723 Nationstar Mortgage LLC Ocwen Loan Servicing, LLC Select Portfolio Servicing, Inc. Wells Fargo Bank, N.A. 17 Making Home Affordable: Results by Servicer Program Performance Report Fourth Quarter 2015 Making Home Affordable Servicer Assessments Background Since the MHA’s inception in the spring of 2009, Treasury has monitored the performance of participating mortgage servicers. Freddie Mac, acting as Treasury’s compliance agent, has created a separate division known as Making Home Affordable–Compliance (MHA-C), which evaluates servicers’ compliance with MHA guidelines through regular compliance reviews. MHA-C examines as many as 60 compliance criteria (see Appendix 2) and tests between 400 and 600 loan files each quarter at each of the largest servicers. Loan samples are randomly selected for testing from two sources: the MHA transactions reported by each servicer into the MHA system of record and the servicer’s records of non-performing loans. This approach provides comprehensive insight into how each servicer is implementing MHA programs. This includes, for example, whether the servicer is properly identifying, contacting and evaluating borrowers who are potentially eligible for MHA, as well as the accuracy and timeliness of the MHA data reported by the servicer. MHA-C reports the results of each compliance review to Treasury and the servicer. Treasury requires servicers to take remedial actions which include, but are not limited to: identifying and re-evaluating any affected loans, performing retroactive analysis when an issue is potentially systemic, and enhancing the effectiveness of internal controls. It is important to note that servicer participation in MHA is voluntary, based on a contract with Fannie Mae as financial agent on behalf of Treasury. 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 permanent modifications under HAMP and completed transactions under HAFA. MHA Servicer Assessments In 2011, Treasury began publishing quarterly servicer assessments for the large servicers participating in MHA to improve transparency and drive servicers to improve their performance. The assessments highlight the results of MHA compliance reviews and rate servicers on the level of improvement needed. In addition, the assessments include program data reported by servicers into the MHA system of record. These program results are key indicators of how timely and effectively servicers assist eligible homeowners and report program data to Treasury. The assessments do not rate the servicer based on program results, but compare each servicer’s performance for a given quarter against the other large servicers participating in the program. Treasury has periodically enhanced the assessments to focus on new or emerging areas of interest, provide additional insight into the impact of servicer performance on homeowners’ experience, and foster further improvement in servicer performance. The most recent changes, effective the second quarter of 2015, included: the addition of metrics that address timely evaluation of borrowers for HAMP, accuracy of interest rate step-up changes, and timeliness and completeness of interest rate step-up notices; the consolidation of two “second look” metrics; the removal of the nonapproval metric; and tightened performance benchmarks. Each quarter, Treasury reviews the compliance results and ratings, the program results, and other relevant factors affecting servicer performance (including, but not limited to a servicer’s progress in remediating previously identified issues) in determining whether a servicer needs substantial, moderate or minor improvement to its overall performance under MHA. 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 withhold 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, not incentives paid to servicers for the benefit of homeowners or investors. Please refer to Appendices 1 and 2 for more information concerning the MHA Servicer Assessments. 18 Making Home Affordable: Results by Servicer Program Performance Report Fourth Quarter 2015 4th Quarter 2015 Servicer Assessment Summary Results Improvement Needed Minor Servicer Name Select Portfolio Servicing, Inc. Wells Fargo Bank, N.A. Bank of America, N.A. CitiMortgage, Inc. Moderate JPMorgan Chase Bank, N.A. Ocwen Loan Servicing, LLC Nationstar Mortgage LLC Substantial None The table above summarizes the results of the MHA Servicer Assessments for the fourth quarter of 2015. The compliance and program results for the individual servicers can be found on the following pages. CitiMortgage, Inc. was found to need moderate improvement, however, their compliance results approached the level required for a determination of minor improvement. After considering all relevant factors, including performance in areas previously requiring substantial improvement, servicer incentives withheld from Nationstar Mortgage, LLC beginning last quarter will be released in March 2016. 19 Making Home Affordable: Results by Servicer Program Performance Report Fourth Quarter 2015 Compliance Metrics Overview The metrics and benchmarks below reflect compliance areas tested and reported on across the large servicers to determine servicers’ adherence to MHA Program Requirements. Servicer results (see overleaf) reflect percentages of tests that did not have a desired outcome. Please refer to Appendix 1 for more information concerning the metrics described below. Category Identifying and Contacting Homeowners Assesses whether the servicer identifies and communicates appropriately with potentially eligible MHA homeowners. Homeowner Evaluation and Assistance Assesses whether servicer correctly evaluates homeowners' eligibility for MHA programs and communicates decisions timely. Program Management and Reporting Assesses whether the servicer has effective program management, submits timely and accurate program reports and information and whether the servicer accurately and timely communicates interest rate step-ups. Metric Single Point of Contact Assignment % Noncompliance Benchmark Percentage of loans reviewed where MHA-C did not concur that the servicer had assigned a Single Point of Contact to a homeowner in accordance with MHA guidelines 2.0% Percentage of loans reviewed where MHA-C did not concur with or was unable to conclude on the servicer's MHA eligibility determination for applicable programs 2.0% Second Look % Noncompliance 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 2.0% Timely HAMP Evaluation % Noncompliance Percentage of loans reviewed for which MHA-C determined the servicer did not complete the evaluation within the prescribed time frame for reasons within the servicer’s control 2.0% 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 2.0% 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 2.0% Interest Rate Step-Up Changes Percentage of loans reviewed where MHA-C noted discrepancies between the terms of the interest rate stepup in the official modification agreement and payment application in the loan payment history 5.0% Interest Rate Step-Up Notices Percentage of loans reviewed where MHA-C noted that the interest rate step-up notices sent by the servicer were not in accordance with MHA guidelines 5.0% 20 Making Home Affordable: Results by Servicer Program Performance Report Fourth Quarter 2015 4th Quarter 2015 Compliance Results Single Point Interest Rate Interest Rate Timely HAMP Disqualified Second Incentive Step-Up Step-Up of Contact Income Evaluation % Modification Look % Payment Changes % Notices % Assignment Calculation Non% NonNonData Errors NonNon% NonError % compliance compliance compliance compliance compliance compliance Servicer BENCHMARK 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. 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 5.0% 5.0% Servicer Results 0.0% 0.5% 11.0% 1.5% 1.1% 2.0% 0.0% 3.5% Rating *** *** * *** *** *** *** *** Servicer Results 0.0% 1.8% 2.0% 0.0% 0.3% 4.0% 0.0% 0.0% Rating *** *** *** *** *** ** *** *** Servicer Results 0.0% 0.9% 0.0% 2.3% 0.1% 0.0% 0.0% 14.0% Rating *** *** *** ** *** *** *** * Servicer Results 0.0% 4.7% 3.0% 0.8% 3.3% 0.0% 1.0% 2.0% Rating *** ** ** *** ** *** *** *** Servicer Results 0.0% 3.1% 1.0% 0.0% 0.6% 3.8% 0.0% 2.0% Rating *** ** *** *** *** ** *** *** Servicer Results 0.0% 1.5% 2.0% 0.0% 0.7% 0.0% 0.0% 0.0% Rating *** *** *** *** *** *** *** *** Servicer Results 0.0% 1.8% 0.0% 0.0% 0.4% 0.8% 0.0% 1.5% Rating *** *** *** *** *** *** *** *** 21 Making Home Affordable: Results by Servicer Program Performance Report Fourth Quarter 2015 Compliance Results Trending The trending table was expanded in the second quarter of 2015 to reflect the results across five assessment metrics. Servicer 2013 Q3 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. 1.3% 0.0% 2.6% N/A 4.4% 1.8% 2.9% 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. 0.0% 5.6% 3.0% N/A 2.3% 1.7% 4.4% 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. 1.0% 0.0% 0.0% N/A 0.5% 2.1% 1.0% 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. 0.0% 1.7% 0.1% N/A 0.5% 0.5% 1.5% 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. 0.0% 10.0% 0.0% N/A 3.3% 0.0% 6.7% * ** Note: 2013 2014 2014 2014 2014 2015 Q4 Q1 Q2 Q3 Q4 Q1 Single Point of Contact Assignment % Noncompliance 4.7% 1.4% 4.6% 0.0% 0.0% 0.0% 0.0% 1.4% 0.0% 1.1% 0.0% 0.0% 4.7% 7.9% 2.8% 0.0% 0.0% 0.0% 3.1% 0.0% 0.0% 0.0% 0.0% 0.0% 1.4% 0.0% 1.6% 0.0% 0.0% 0.0% 4.8% 0.0% 0.0% 0.0% 0.0% 0.0% 3.4% 3.9% 6.7% 4.2% 6.7% 0.0% Second Look % Noncompliance (Combined)* 0.9% 1.4% 1.4% 0.0% 1.4% 1.4% 4.3% 1.4% 15.2% 4.2% 3.7% 4.9% 1.4% 2.3% 0.5% 0.9% 1.4% 0.4% 1.7% 1.6% 1.4% 0.0% 1.5% 6.9% 4.8% 3.5% 1.6% 3.1% 1.0% 1.9% 5.7% 1.2% 0.6% 2.3% 2.2% 0.5% 3.1% 2.6% 2.8% 1.4% 1.4% 1.4% Income Calculation Error % 2.0% 3.0% 1.0% 0.0% 1.0% 2.0% 2.0% 2.0% 6.0% 1.0% 3.0% 3.0% 0.0% 0.0% 0.0% 0.0% 0.0% 1.0% 3.0% 3.0% 5.0% 4.0% 3.0% 5.0% 0.5% 1.0% 1.0% 0.0% 1.0% 0.0% 3.1% 6.0% 6.0% 3.0% 2.0% 1.0% 1.0% 1.0% 1.0% 0.0% 1.0% 1.0% Incentive Payment Data Errors** 0.0% 1.8% 0.2% 0.3% 0.1% 0.3% 0.8% 0.7% 1.0% 0.1% 0.6% 0.5% 0.1% 1.1% 0.0% 0.0% 0.1% 0.0% 3.4% 0.6% 1.7% 2.0% 0.2% 1.0% 1.6% 0.5% 0.7% 0.5% 0.6% 0.7% 1.0% 0.4% 1.1% 0.6% 2.2% 1.2% 1.7% 1.1% 1.1% 0.4% 0.8% 0.3% Disqualified Modification % Noncompliance 10.0% 2.0% 0.0% 3.0% 0.8% 0.8% 3.3% 16.0% 6.0% 12.0% 8.8% 2.3% 0.0% 4.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 13.0% 6.8% 2.0% 0.0% 0.0% 4.0% 1.0% 3.8% 1.8% 0.0% 0.0% 0.0% 1.0% 0.8% 0.0% 0.0% 1.0% 0.0% 8.0% 6.8% 9.3% 2015 Q2 2015 Q3 2015 Q4 0.0% 0.0% 1.5% 0.0% 0.0% 0.0% 3.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 4.3% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.5% 2.5% 0.5% 9.5% 2.0% 0.5% 3.4% 2.3% 0.5% 0.0% 6.4% 2.4% 0.5% 2.3% 0.5% 1.8% 0.9% 4.7% 3.1% 1.5% 1.8% 6.0% 2.0% 0.0% 1.0% 1.0% 3.0% 0.0% 16.0% 2.0% 0.0% 0.0% 1.0% 2.0% 0.0% 11.0% 2.0% 0.0% 3.0% 1.0% 2.0% 0.0% 2.5% 1.0% 0.1% 1.5% 0.2% 1.6% 0.9% 2.6% 1.3% 0.8% 0.7% 0.0% 0.8% 0.3% 1.1% 0.3% 0.1% 3.3% 0.6% 0.7% 0.4% 2.3% 3.8% 0.0% 0.8% 7.3% 0.0% 2.8% 5.0% 6.0% 1.0% 3.0% 3.8% 0.0% 1.8% 2.0% 4.0% 0.0% 0.0% 3.8% 0.0% 0.8% Prior to Q2 2015, this metric was previously two separate metrics, "Second Look % Disagree" and "Second Look % Unable to Determine”. For comparative purposes, we have combined the historical results of these two metrics into one percentage. Beginning with the Q2 2015 Assessment, the Incentive Payment Data Errors metric includes PRA testing. When calculating error percentages from prior quarter’s published figures, it may result in a slightly different percentage due to rounding. 22 Making Home Affordable: Results by Servicer Program Performance Report Fourth Quarter 2015 Program Results Trials Aged 6+ Months (% of Active Trials)11 40% Q1 2015 Q2 2015 Q3 2015 Q4 2015 30% 20% 10% Average # Aged Trials % of Active Trials 6+ Months 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 various 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. 0% Bank of America, CitiMortgage, JPMorgan Chase Nationstar N.A. Inc. Bank, N.A. Mortgage LLC Ocwen Loan Servicing, LLC Select Portfolio Servicing, Inc. Wells Fargo Bank, N.A. Q1’15 210 319 279 1,640 1,123 385 503 Q2’15 264 256 255 436 670 142 411 Q3’15 182 262 244 556 437 145 381 Q4’15 205 276 216 637 194 183 388 Average Calendar Days to Resolve Escalated Cases 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 Q1 2015 Q2 2015 Q3 2015 Q4 2015 25 # Days 20 15 10 5 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. 23 Making Home Affordable: Results by Servicer Program Performance Report Fourth Quarter 2015 Program Results Timely Reporting of Permanent Modifications (% Reported within the Month of Conversion) 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 homeowner incentives. In addition, it hinders the effectiveness of program monitoring and transparency. 90% Q1 2015 Q2 2015 Q3 2015 Q4 2015 % Reported Timely 80% 70% 60% 50% 40% 30% 20% 10% 0% Bank of America, CitiMortgage, JPMorgan Chase Nationstar N.A. Inc. Bank, N.A. Mortgage LLC Ocwen Loan Servicing, LLC Select Portfolio Servicing, Inc. Wells Fargo Bank, 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. 4.5% Q1 2015 % Missing 4.0% 3.5% Q2 2015 3.0% Q3 2015 2.5% Q4 2015 2.0% 1.5% 1.0% 0.5% 0.0% Bank of America, CitiMortgage, N.A. Inc. JPMorgan Chase Bank, N.A. Nationstar Mortgage LLC Ocwen Loan Servicing, LLC Select Portfolio Servicing, Inc. Wells Fargo Bank, N.A. 24 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 1: Program and Servicer Assessment Notes The Home Affordable Modification Program (HAMP) provides eligible homeowners the opportunity to lower their first lien mortgage payment through a loan modification. HAMP includes a Tier 1 modification for Government Sponsored Enterprises (GSEs) and nonGSE homeowners and a Tier 2 for non-GSE homeowners. In October 2011, the GSEs launched the Servicer Alignment Initiative (SAI), creating the GSE Standard Modification. Tier 2 is modeled after the GSE Standard Modification and expands HAMP eligibility to include homeowners with properties currently occupied by a tenant as well as vacant properties the homeowner intends to rent. Treasury FHA-HAMP provides first lien modifications for distressed homeowners in loans insured or guaranteed through the Federal Housing Administration. The FHA introduced FHA-HAMP to provide assistance to borrowers with FHA-insured loans who are unable to meet their mortgage payments. Treasury pays incentives to servicers for FHA-insured first lien non-GSE mortgages that are modified under Treasury FHA-HAMP guidelines. RD-HAMP provides first lien modifications for distressed homeowners in loans guaranteed through the Rural Housing Service. The Second Lien Modification Program (2MP) provides modifications and extinguishments on second liens when there has been an eligible first lien modification on the same property. The Home Affordable Foreclosure Alternatives (HAFA) Program provides transition alternatives to foreclosure in the form of a short sale or deed-in-lieu of foreclosure. The GSE Standard HAFA program is closely aligned with Treasury’s MHA HAFA program. The Home Affordable Unemployment Program (UP) provides temporary forbearance of mortgage principal to enable unemployed homeowners to look for a new job without fear of foreclosure. 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 HAMP, PRA, Treasury FHA-HAMP, RD-HAMP, 2MP, and HAFA program data include 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 RD-HAMP. HAMP Tier 1 includes both GSE and non-GSE modifications. The GSEs do not participate in HAMP Tier 2, however the GSE Standard Modification is similar to HAMP Tier 2. Treasury's 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 December 2015. The GSEs undertake other foreclosure prevention activities beyond their participation in MHA that are not reflected in this report. The latest Federal Housing Finance Agency’s Foreclosure Prevention Report can be found at: www.FHFA.gov. Treasury FHA-HAMP Program Notes: The FHA undertakes foreclosure prevention activities beyond their participation in MHA that are not reflected in this report. Please refer to the latest edition of the Obama Administration’s Housing Scorecard for the total number of loss mitigation and early delinquency interventions FHA has offered since April 1, 2009. Please visit www.hud.gov to view the latest Housing Scorecard. 25 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 1: Program and Servicer Assessment Notes 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 non-participating 2MP servicers are reflected in “Other Servicers.” Homeowners with an active first lien permanent modification and a second lien (2MP) modification realize a higher monthly payment reduction on their first lien compared to the overall population of first lien homeowners because of the higher median first lien unpaid principal balance. HAFA Program Notes: Unless otherwise noted, HAFA Transactions Completed includes GSE activity under the MHA program in addition to the GSE Standard HAFA program implemented in November 2012. GSE Standard HAFA data provided by Fannie Mae and Freddie Mac as of December 2015. It does not include other GSE short sale and DIL activity outside the HAFA program. Please refer to the latest Federal Housing Finance Agency’s Foreclosure Prevention Report for the total number of short sales and DIL of foreclosure actions the GSEs have completed since 4Q 2008. Please visit www.FHFA.gov for the complete FHFA report. A short sale requires a third-party purchaser and cooperation of junior lien holders and mortgage insurers to complete the transaction. 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, homeowner 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. Servicer Assessment Notes: Treasury’s foremost goal is to assist struggling homeowners who may be eligible for MHA. This population represents only a portion of each servicer’s overall mortgage servicing operation. Treasury’s compliance reviews solely assess compliance with MHA requirements established by Treasury under contracts with participating servicers. Treasury does not assess servicers’ compliance with rules or requirements established by Fannie Mae or Freddie Mac (the GSEs) or the Federal Housing Administration (FHA), among others. Moreover, Treasury cannot and does not assess compliance of servicing activities outside of MHA. Servicers’ compliance with laws or regulations relating to mortgage servicing are enforced by other Federal agencies, such as the Consumer Financial Protection Bureau (CFPB), or by state authorities. The servicer assessments have set a benchmark for providing detailed information about how mortgage servicers are performing against specific metrics. Although the compliance reviews that form the basis for the servicer assessments 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 transactions, rather than the entirety of the population of transactions, to assess a servicer’s overall performance in that particular activity. 26 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 1: Program and Servicer Assessment Notes Compliance Metrics Single Point of Contact Assignment % Noncompliance: Servicers are required to assign certain delinquent homeowners to a Single Point of Contact (SPOC). This metric measures the percentage of loans reviewed where MHA-C did not concur that the servicer had assigned a SPOC to a homeowner in a timely fashion and otherwise in accordance with MHA guidelines. For SPOC Assignment Noncompliance results, remedial actions Treasury requires servicers to take include, but are not limited to: assigning a SPOC to the homeowner, and correcting system and operational processes such that SPOCs are properly assigned to homeowners in a timely fashion. Second Look % Noncompliance: Second Look is a process in which MHA-C reviews potentially eligible loans not in a permanent modification, to assess the timeliness and accuracy of the servicer’s homeowner outreach and eligibility review in order to verify that the homeowner was properly considered, denied or deemed ineligible for receiving a permanent modification. This metric measures the combined percentage of loans reviewed in Second Look where MHA-C disagreed with a servicer’s solicitation efforts and/or eligibility review and for which MHA-C is not able to determine, based on the documentation provided, whether the homeowner was properly considered, denied or deemed ineligible for receiving a permanent modification. For Second Look Noncompliance results, remedial actions Treasury requires servicers to take include, but are not limited to: reconsidering homeowners for a modification if they were not properly solicited or incorrectly evaluated, retaining documentation to support solicitation efforts and eligibility determination, and, if applicable, engaging in systemic process remediation. All loans categorized as noncompliant remain on foreclosure hold until the servicer completes the appropriate corrective actions. Income Calculation Error %: Correctly calculating homeowners’ monthly income is a critical component of evaluating eligibility for MHA, as well as establishing an accurate modification payment. This metric measures how often MHA-C disagrees with a servicer’s calculation of a homeowner’s Monthly Gross Income, allowing for up to a 2% differential from MHA-C’s calculations. For Income Calculation Errors, remedial actions Treasury requires servicers to take include, but are not limited to: correcting income errors, requiring the servicer to review their own income calculation accuracy, enhancing policies and procedures, and conducting staff training on income calculation. Timely HAMP Evaluation % Noncompliance: Servicers are required to evaluate borrowers for HAMP within 30 calendar days from the date a complete loss mitigation application is received. This metric measures the percentage of loans reviewed for which MHA-C determined the servicer did not complete the evaluation within the prescribed time frame for reasons within the servicer’s control. For Timely HAMP Evaluation Noncompliance, remedial actions Treasury requires servicers to take include, but are not limited to: correcting operational issues such that borrowers are evaluated in a timely manner, and implementing controls that allow servicer management to identify and prioritize HAMP eligibility determinations are at risk of being delayed. 27 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 1: Program and Servicer Assessment Notes 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 correcting system and operational processes such that accurate data is mapped to its appropriate places in the program system of record. Disqualified Modification % Noncompliance: Permanent modifications on which homeowners lose good standing are subsequently disqualified from the program. This metric measures the percentage of loans reviewed where MHA-C did not concur with a servicer’s processing of defaulted HAMP modifications, in accordance with MHA guidelines. For Disqualified Modification results, remedial actions Treasury requires servicers to take include, but are not limited to: correcting the status of improperly disqualified modifications and reporting the corrected data to the program system of record. Interest Rate Step-up Changes: In year five of a borrower’s modification, the interest rate on their modification may increase. This metric measures whether the step payment interest rate and principal and interest payment were applied in accordance with the terms of the Modification Agreement. For Interest Rate Step-Up Change results, remedial actions Treasury requires servicers to take include, but are not limited to: reversing incorrect payment applications within the servicer’s system and re-applying payments according to the terms of the Interest Rate Step-Up and correcting system and operational processes such that borrower payments are accurately applied according to the terms of the Interest Rate Step-Ups in the Modification Agreement. Interest Rate Step-up Notices: Servicers are required to send two notices of an Interest Rate Step-Up to the borrower prior to the Step Payment Effective Date. The first notice must be sent at least 120 calendar days, but no more than 240 calendar days, before the initial payment is due at the adjusted level. An additional notice must be sent 60-75 days before the initial payment is due at the adjusted level. This metric measures the percentage of loans reviewed where the notices were not sent within the required timeframes and/or did not include the required elements. For Interest Rate Step-Up Notice results, remedial actions Treasury requires servicers to take include, but are not limited to, correcting system and operational processes such that Interest Rate Step-Up Notices are sent within the required timeframes and updating notice templates to ensure that all required information is included in the Interest Rate Step-Up Notices sent to the borrower. Permanent modifications on which homeowners lose good standing are subsequently disqualified from the program. This metric 28 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 2: Compliance Criteria Tested This metric Identifying and Contacting Homeowners Criteria Tested Review Type Objective HAMP Solicitation Second Look Directed Actions Servicer appropriately solicited borrowers for HAMP and that the servicer met the reasonable efforts requirements Second Lien Solicitation Second Look Servicer has solicited borrowers with second liens for which a HAMP modification exists on the first lien Initial Packages sent after Right Second Look Party Contact (RPC) Servicer sent potentially eligible borrowers HAMP packages following RPC Timely SPOC Assignment Second Look Servicer assigned a Single Point of Contact and sent a SPOC assignment letter to potentially eligible borrowers following RPC Content of Borrower Notices Second Look Borrower Notices contained required information Timely Acknowledgement Letter sent Second Look Upon receiving any part of a HAMP package, servicer sent an Acknowledgement Letter to the borrower within the required time frame Accuracy of Incomplete Information Notice (IIN) sent, where applicable Second Look Upon receiving part of a HAMP Package but not all required information, servicer sent an Incomplete Information Notice to the borrower listing documentation still needed Timely mailing of IIN, where applicable Second Look Servicer sent Incomplete Information Notices within required time frame Validation of Tier 1 Denials Second Look Denials of Tier 1 HAMP modifications are valid Validation of Tier 2 Denials Second Look Denials of Tier 2 HAMP modifications are valid Second Lien Denials Second Look Denials of second lien modifications are valid Non-Approval Notice Second Look Servicer included correct denial reason in Non-Approval Notice and sent within 10 days of decision Denial Reporting Second Look Servicer reported correct denial reason to the HAMP Program Administrator Homeowner Evaluation and Assistance Criteria Tested Review Type Objective Dodd Frank Certification Core Eligibility/Incentive Servicer Obtained a signed Dodd-Frank Certification from borrowers receiving a HAMP modification Accurate occupancy status Core Eligibility/Incentive Borrower occupancy status in the HAMP system of record is accurate Origination date Core Eligibility/Incentive Origination date of the mortgage is prior to January 1, 2009 Unpaid Principal Balance Core Eligibility/Incentive Pre-modification unpaid principal balance does not exceed program limits Completed Request for Mortgage Assistance or Hardship Affidavit Core Eligibility/Incentive Servicer obtained a signed Request for Mortgage Assistance or Hardship Affidavit Approval Decision Core Eligibility/Incentive Servicer made correct decision to approve the modification 29 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 2: Compliance Criteria Tested This metric Homeowner Evaluation and Assistance Criteria Tested Completeness of full underwriting package Review Type Second Look, Core Eligibility/Incentive Objective Servicer obtained a completed package to underwrite modification Accuracy of Income calculation Core Eligibility/Incentive Servicer correctly calculated borrower income Accurate HAMP Eligibility decision (approvals) Core Eligibility/Incentive Servicer made correct decision to approve the modification Accurate HAMP Underwriting Core Eligibility/Incentive Accurate Escrow Analysis Core Eligibility/Incentive Property Valuation (AVM, BPO) obtained Accuracy of Trial Period Plan (TPP) Notice Application of TPP payments NPV model use/re-coding compliance Accuracy of NPV inputs Accuracy of Permanent Modification Agreement Waiver of Late Charges & other Fees at conversion from TPP to Perm. Mod. Application of Unapplied Funds at end of TPP Accurate 2MP Eligibility Assessment Accurate calculation of 2MP TPP/Modification Terms Core Eligibility/Incentive Core Eligibility/Incentive Core Eligibility/Incentive Net Present Value Net Present Value Core Eligibility/Incentive Servicer obtained appraisal or broker price opinion for the property Servicer sent accurate TPP Notices to borrowers entering a Trial modification Servicer accurately applied borrower TPP payments Servicer NPV models provide accurate results consistent with the Treasury NPV model Servicer input accurate data into the NPV model Permanent Modification Agreement includes correct terms including payment amount, interest rate, unpaid principal balance, and forbearance amount Core Eligibility/Incentive At time of conversion to permanent modification, servicer waived all late charges and other fees related to the delinquency of the original loan Core Eligibility/Incentive Servicer accurately applied payment amounts held in suspense at end of Trial Plan Second Look, Core Eligibility/Incentive Servicer accurately evaluated borrower for second lien modification Core Eligibility/Incentive Servicer accurately calculates second lien modification terms Timely mailing and accuracy of Second Look 2MP Non-Approval Notice, where applicable Accurate HAFA Eligibility Assessment Second Look, Core Eligibility/Incentive HAFA - Release of Liens Core Eligibility/Incentive Escalated Cases Directed Actions Solicitation of Financial counseling notices Timely mailing of 2MP TPPs Timely mailing of HAFA Short Sale notices Servicer correctly underwrote the modification to ensure correct payment terms Servicer performed accurate analysis of borrower escrow to use in modification Servicer sent accurate Non-Approval Notices for denied second lien modifications within specified time frame Servicer reviewed HAFA applications and makes appropriate eligibility decision Servicer obtained release of all liens on properties completing a HAFA short sale or deed-in-lieu Servicer timely and accurately resolved escalated case complaints Core Eligibility/Incentive Servicer considered borrower for financial counseling by sending a notification with the TPP Servicer sent 2MP TPP’s within the required timeframe Core Eligibility/Incentive Servicer sent HAFA Short Sale Notices within the required timeframe Core Eligibility/Incentive 30 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 2: Compliance Criteria Tested This metric Program Management and Reporting Criteria Tested HAMP Incentive Compensation Servicer, Borrower & Investor Review Type Core Eligibility/Incentive Application of Borrower Incentives Core Eligibility/Incentive Timely and accurate 120-Day Notice of Interest Rate Increase Core Eligibility/Incentive Objective Incentive compensation is accurate based on loan file documentation Servicer accurately applied borrower incentives to unpaid principal balance within 30 days of receipt Servicer sent accurate first notice of Interest Rate Increase between 120 and 240 days prior to rate increase Timely and accurate 60-Day Notice Core Eligibility/Incentive of Interest Rate Increase Servicer sent accurate second notice of Interest Rate Increase between 60 and 75 days prior to rate increase Accuracy of step rate increases Servicer accurately calculated and implemented HAMP rate increases Core Eligibility/Incentive Appropriate timing on reporting of denial to IR2 (i.e. at least 30 days Second Look after letter sent) Accurate reporting of HAMP Core Eligibility/Incentive Trials/Perm Mods to IR2 Appropriate notification to borrowers of Post-Modification Core Eligibility/Incentive Counseling 2MP Incentive Compensation Core Eligibility/Incentive Servicer, Borrower & Investor Accurate reporting of 2MP Core Eligibility/Incentive Trials/Perm Mods to IR2 HAFA Incentive Compensation Core Eligibility/Incentive Servicer, Borrower & Investor Accuracy of reporting of HAFA activity to IR2 Core Eligibility/Incentive Re-default and Loss of Good Standing Directed Actions, Core Eligibility/Incentive Pre-Foreclosure affirmation provided by Relationship Manager Directed Actions (SPOC) Servicer reported HAMP denials to the Program Administrator in accordance with program guidelines Servicer accurately reported modification information to the Program Administrator including all data used in calculating incentives Borrowers entering Trial Period Plans are notified of the availability of financial counseling Incentive compensation for second lien modifications is accurate Servicer reported accurate modification data to Program Administrator with respect to second lien modifications Incentive compensation for HAFA transactions is accurate based on loan file documentation Servicer reported accurate modification data to Program Administrator with respect to HAFA short sale and deed-in-lieu transactions Modifications that are disqualified from HAMP due to Loss of Good Standing or canceled from TPP are done so accurately and in a timely manner SPOC provided affirmation that all available loss mitigation options had been exhausted Accuracy of Foreclosure Referrals Directed Actions Foreclosure referrals meet the requirements of the MHA Handbook Certification provided to Foreclosure attorney Proper resolution of Escalated Cases Timely processing of escalated cases Validation of receipt and completeness of MHA Data for transferred loans by transferee servicer Timely processing of transferred Trial Period Plans Application of incentives for transferred modifications Directed Actions Servicer provided certification that HAMP modification had been explored and all other loss mitigation options had been exhausted Directed Actions Borrower complaints are resolved accurately Directed Actions Borrower complaints are resolved within prescribed time period or the borrower is notified appropriately of delays Transfer Testing Within 60 days of transfer, the transferee servicer validated the acquired loans contained all required MHA data Transfer Testing Transfer Testing Borrowers in Trial Period Plans as of the date of transfer were appropriately placed into Official Modifications Borrower incentives were applied correctly to unpaid principal balance of transferred loans where appropriate 31 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 3: Terms and Methodologies 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. Disqualification: A permanent modification disqualifies from HAMP when the borrower misses 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. Servicers are required to report monthly payment information on HAMP modifications in the form of an Official Monthly Report (OMR). If a servicer does not report an OMR for a loan in a given month, the performance of that loan is not included in official Treasury reporting for that month. In addition, reported loan counts may shift from prior reports due to servicer data corrections. 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. Front-End Debt-to-Income Ratio: Ratio of housing expenses (principal, interest, taxes, insurance and homeowners association and/or condo fees) to monthly gross income. Monthly Housing Payment: Principal and interest payment. 32 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 4: End Notes Note # 1 Section HAMP Program Results End Notes 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. HAMP Program Results Data is as reported by servicers for actions completed through the end of the quarter 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. 3 HAMP Program Results Servicers did not submit 1.9% of the total required OMRs for loans aged up to 60 months in the current reporting period. In addition, reported loan counts may shift from prior reports due to servicer data corrections. For example, if it was assumed that all unreported OMRs reflect either a current payment status or the maximum number of missed payments based on the most recently submitted OMR, the re-default rate for Tier 1 permanent modifications that have aged 60 months may range between 45.1% and 45.3%. 4 Other MHA Programs 5 Other MHA Programs 6 Other MHA Programs Principal amount reduced as a percentage of before-modification UPB, excluding capitalization. 7 Other MHA Programs 2MP Modification Characteristics describe loan characteristics at time of modification. 8 Other MHA Programs Survey data indicates that program to date, 359,216 qualifying first lien modifications have been matched with a second lien. Of these matched second liens, approximately 53% 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. 9 Results by Servicer 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. 10 Results by Servicer Includes non-GSE activity under the MHA program only. Servicer GSE program data not available. Results by Servicer These figures 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. These modifications may be 6 months or more beyond their first trial payment due date resulting in their classification as an Aged Trials. As a result, fluctuations are expected in this population. 2 11 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. 33 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 5: HAMP Activity by State State AK AL AR AZ CA CO CT DC DE FL GA HI IA ID IL IN KS KY LA MA MD ME MI MN MO MS MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WI WV WY PR Nationwide* * Includes U.S. Territories Trial Modifications Started 1,275 17,066 6,702 92,559 507,389 31,917 33,287 4,300 8,000 296,109 91,469 8,717 7,269 8,832 124,521 26,731 7,073 11,008 17,001 54,758 78,648 7,001 71,138 37,114 28,098 10,544 2,868 49,856 488 3,924 10,535 85,133 8,675 54,094 123,218 59,988 7,756 26,376 60,677 11,474 26,104 1,037 29,677 82,800 19,272 56,716 2,106 48,911 24,479 3,718 1,227 5,988 2,395,672 Permanent Modifications Started 733 10,423 3,951 55,297 351,417 20,477 22,772 2,777 5,326 192,545 57,137 5,869 4,271 5,523 82,780 16,793 4,191 6,873 10,746 37,645 52,563 4,820 44,139 23,217 17,142 6,654 1,690 31,165 261 2,436 7,114 57,458 5,481 33,372 84,295 36,049 4,499 16,953 39,671 7,981 16,119 573 18,880 48,703 12,510 36,471 1,505 32,758 15,933 2,222 756 4,752 1,565,723 Median Monthly Payment Reduction $479.55 $262.82 $247.30 $439.64 $708.16 $405.12 $523.16 $538.58 $403.41 $465.51 $356.58 $788.69 $251.29 $367.12 $498.98 $260.63 $284.48 $264.00 $281.28 $575.20 $561.11 $383.89 $341.71 $417.77 $291.82 $249.05 $391.39 $300.45 $275.76 $261.14 $464.79 $623.19 $345.09 $523.44 $772.28 $291.26 $244.65 $451.38 $340.49 $532.55 $294.72 $258.45 $284.42 $281.47 $427.14 $479.67 $364.21 $500.22 $343.86 $302.43 $360.77 $284.16 $479.67 Median Monthly Payment Reduction % of PreModification Payment 31% 32% 32% 37% 37% 33% 37% 32% 32% 40% 36% 33% 33% 33% 40% 33% 33% 33% 33% 35% 34% 35% 37% 35% 35% 33% 32% 33% 31% 33% 34% 37% 33% 38% 38% 36% 33% 34% 34% 39% 33% 29% 34% 33% 32% 32% 34% 33% 36% 30% 30% 37% 35% 34 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 6: HAMP Tier 1 Scheduled Interest Rate Increases by State Median Values State Monthly P&I Total Monthly Pre-Mod Monthly After Mod Payment Before Mod Pre-Mod P&I Payment Interest Income at After Mod UPB Monthly Increase at DTI Monthly P&I Increase after Rate Time of Mod P&I First Interest All Increases Rate Increase Final Monthly P&I Payment Reduction from Pre-Mod P&I AK 45.11% 6.8% $1,470.00 $4,190.00 $213,634.56 $856.63 $93.31 $181.22 -$426.29 AL 46.47% 6.8% $874.97 $2,285.28 $120,350.66 $502.00 $48.20 $97.96 -$239.65 AR 45.56% 6.5% $799.52 $2,122.50 $114,542.82 $459.65 $48.21 $99.35 -$206.68 AZ 49.43% 6.4% $1,192.71 $2,807.49 $178,362.97 $655.41 $78.00 $188.28 -$309.58 CA 48.69% 6.1% $1,941.72 $4,679.00 $306,819.14 $1,062.79 $134.61 $307.77 -$477.96 CO 46.41% 6.4% $1,235.16 $3,189.87 $188,964.75 $734.61 $80.18 $177.91 -$298.38 CT 45.44% 6.5% $1,457.89 $4,343.50 $210,684.66 $783.50 $90.62 $197.90 -$409.03 DC 47.92% 6.4% $1,708.47 $4,117.59 $275,231.83 $967.44 $120.47 $264.50 -$388.88 DE 46.96% 6.5% $1,280.69 $3,102.04 $194,714.31 $749.79 $82.87 $170.51 -$307.74 FL 47.55% 6.5% $1,192.19 $3,278.69 $170,803.41 $615.44 $74.71 $167.84 -$349.87 GA 47.39% 6.5% $1,004.68 $2,642.04 $143,559.97 $557.61 $61.53 $137.14 -$280.25 HI 49.03% 6.3% $2,428.88 $5,387.76 $394,323.26 $1,369.41 $174.31 $375.57 -$519.75 IA 44.37% 6.6% $777.68 $2,287.75 $107,873.80 $430.85 $44.67 $93.31 -$208.38 ID 48.47% 6.5% $1,148.67 $2,733.16 $170,966.28 $655.55 $73.83 $164.08 -$287.45 IL 46.98% 6.5% $1,279.10 $3,710.72 $178,996.68 $644.30 $78.25 $176.89 -$391.97 IN 46.02% 6.8% $813.74 $2,156.08 $110,073.32 $453.31 $44.55 $94.09 -$224.24 KS 44.48% 6.6% $900.49 $2,727.72 $126,684.15 $500.08 $51.34 $111.40 -$242.52 KY 45.60% 6.8% $812.81 $2,208.00 $112,187.43 $458.93 $45.98 $96.98 -$219.70 LA 45.58% 6.9% $896.33 $2,552.15 $123,483.04 $495.27 $50.99 $101.18 -$254.75 MA 47.02% 6.4% $1,658.68 $4,336.45 $250,065.46 $913.60 $107.64 $237.87 -$426.57 MD 46.85% 6.4% $1,672.60 $4,333.09 $259,627.17 $939.35 $113.26 $250.82 -$410.69 ME 46.51% 6.6% $1,134.68 $3,000.01 $163,454.44 $616.23 $69.59 $142.60 -$300.55 MI 46.83% 6.5% $954.55 $2,670.00 $129,731.11 $506.39 $53.99 $122.86 -$276.47 MN 46.06% 6.3% $1,201.56 $3,302.26 $178,485.68 $679.05 $76.43 $175.00 -$307.44 MO 45.98% 6.6% $879.76 $2,484.15 $123,647.11 $484.54 $50.99 $108.62 -$249.57 MS 46.34% 6.9% $810.75 $2,227.41 $110,587.32 $450.66 $44.67 $87.56 -$238.13 MT 46.78% 6.4% $1,265.25 $3,249.50 $194,462.81 $734.41 $81.74 $172.06 -$308.48 NC 46.37% 6.5% $946.47 $2,501.46 $133,802.73 $541.24 $56.09 $116.68 -$251.39 ND 42.13% 6.5% $881.34 $2,677.81 $132,200.71 $510.05 $54.36 $112.00 -$198.13 NE 43.82% 6.7% $776.06 $2,466.00 $109,072.60 $442.44 $44.95 $91.26 -$216.03 NH 43.97% 6.4% $1,345.02 $4,164.65 $198,364.34 $765.05 $84.36 $180.31 -$346.35 35 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 6: HAMP Tier 1 Scheduled Interest Rate Increases by State Median Values State Monthly P&I Total Monthly Pre-Mod Monthly After Mod Payment Before Mod Pre-Mod P&I Payment Interest Income at After Mod UPB Monthly Increase at DTI Monthly P&I Increase after Rate Time of Mod P&I First Interest All Increases Rate Increase Final Monthly P&I Payment Reduction from Pre-Mod P&I NJ 45.21% 6.4% $1,703.63 $5,239.51 $249,875.68 $888.78 $109.73 $237.20 -$470.32 NM 47.15% 6.5% $1,060.58 $2,747.17 $156,255.43 $615.70 $67.47 $143.81 -$280.71 NV 50.09% 6.3% $1,370.08 $3,128.87 $207,757.85 $740.15 $91.11 $215.53 -$363.16 NY 47.10% 6.4% $2,082.53 $5,702.05 $312,268.24 $1,085.73 $137.03 $295.59 -$579.34 OH 45.39% 6.6% $821.56 $2,400.00 $110,903.12 $448.07 $45.49 $99.28 -$233.57 OK 44.68% 6.9% $773.60 $2,355.77 $106,049.14 $438.84 $42.67 $85.85 -$223.04 OR 46.64% 6.4% $1,323.74 $3,455.00 $206,798.41 $770.89 $90.88 $197.93 -$321.60 PA 45.17% 6.6% $1,084.69 $3,199.20 $151,750.55 $589.82 $63.43 $129.64 -$296.37 RI 47.47% 6.4% $1,361.36 $3,653.75 $196,183.71 $707.79 $84.90 $190.64 -$400.68 SC 46.68% 6.6% $960.75 $2,492.98 $136,931.43 $547.37 $57.64 $120.79 -$251.77 SD 43.88% 6.4% $926.45 $2,749.00 $136,834.86 $529.84 $56.34 $123.39 -$206.89 TN 46.97% 6.9% $876.16 $2,300.17 $118,332.26 $483.23 $47.86 $100.01 -$257.99 TX 43.17% 7.0% $856.15 $2,946.08 $118,358.54 $485.66 $48.41 $98.74 -$247.78 UT 47.61% 6.5% $1,366.12 $3,276.17 $211,052.21 $804.24 $92.57 $208.31 -$319.94 VA 46.61% 6.4% $1,591.92 $4,055.94 $248,502.09 $907.17 $107.09 $237.37 -$355.89 VT 45.92% 6.8% $1,138.36 $3,120.47 $168,109.94 $629.74 $72.09 $153.62 -$303.79 WA 46.37% 6.4% $1,511.16 $3,971.40 $241,013.46 $875.67 $106.01 $228.48 -$350.09 WI 45.09% 6.5% $986.26 $2,991.26 $138,308.63 $535.19 $58.70 $125.58 -$275.18 WV 46.54% 6.6% $1,068.64 $2,652.11 $153,674.84 $620.75 $62.77 $125.75 -$258.87 WY 46.14% 6.5% $1,304.73 $3,220.99 $187,538.12 $791.25 $79.85 $162.93 -$300.16 PR 50.86% 6.4% $773.18 $1,650.10 $104,270.34 $443.43 $44.51 $95.93 -$214.76 Nationwide* 47.27% 6.4% $1,443.83 $3,800.00 $214,381.89 $781.39 $92.57 $205.95 -$369.33 * Includes U.S. Territories 36 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 7: Performance of HAMP Modifications by Vintage HAMP Tier 1 Mod. Effective in: 2009Q3 2009Q4 2010Q1 2010Q2 2010Q3 2010Q4 2011Q1 2011Q2 2011Q3 2011Q4 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1 2013Q2 2013Q3 2013Q4 2014Q1 2014Q2 2014Q3 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 All 3 # 3,571 43,422 123,632 147,231 86,031 57,918 70,695 79,715 80,712 64,800 49,232 43,866 47,180 39,206 39,168 31,476 31,874 27,258 23,637 19,000 16,967 15,132 14,841 14,279 12,616 3,752 1,187,211 Delinquency: Months After Conversion to Permanent Modification 6 12 60+ Days 90+ Days 10.7% 5.7% 4.2% 5.3% 5.1% 4.6% 2.9% 3.7% 3.7% 3.4% 2.5% 3.0% 3.1% 3.2% 2.2% 2.6% 2.9% 2.9% 2.5% 3.7% 3.6% 3.9% 2.9% 3.9% 3.8% 4.0% 3.9% 4.5% 1.9% 1.5% 1.8% 1.9% 1.8% 1.1% 1.3% 1.3% 1.2% 0.9% 1.0% 1.0% 1.0% 0.7% 0.8% 1.0% 1.0% 0.9% 1.2% 1.3% 1.5% 1.0% 1.4% 1.3% 1.4% 1.3% # 60+ Days 90+ Days # 60+ Days 90+ Days 18 # 60+ Days 90+ Days 4,398 47,244 149,846 156,833 95,696 62,387 75,704 88,970 85,775 67,311 50,675 44,844 48,860 41,120 40,826 32,952 33,348 28,576 25,526 19,813 17,809 16,899 15,793 14,804 4,225 15.8% 10.2% 10.4% 12.2% 11.1% 8.9% 8.2% 9.3% 8.8% 6.9% 6.8% 7.7% 7.3% 6.3% 6.0% 6.5% 7.0% 6.3% 6.8% 7.8% 8.0% 7.1% 7.2% 9.0% 9.2% 10.6% 6.3% 6.1% 7.5% 7.1% 5.7% 5.1% 5.8% 5.6% 4.4% 4.1% 4.6% 4.6% 3.9% 3.5% 3.9% 4.2% 3.8% 3.9% 5.1% 5.4% 4.4% 4.3% 5.5% 5.9% 4,604 51,151 160,656 173,109 103,968 65,015 79,407 92,452 86,753 67,644 50,704 45,124 49,595 42,340 41,950 33,656 34,741 29,861 26,380 20,439 18,371 17,299 5,619 25.8% 20.4% 20.3% 19.5% 18.2% 18.4% 17.0% 16.2% 15.6% 14.7% 14.1% 13.6% 13.0% 12.3% 12.6% 11.8% 12.1% 12.3% 13.1% 13.1% 13.4% 13.9% 14.3% 21.1% 15.8% 16.1% 16.0% 14.5% 14.5% 13.6% 13.2% 12.3% 11.3% 10.9% 10.9% 10.1% 9.4% 9.6% 9.4% 9.2% 9.5% 10.3% 10.7% 10.6% 10.6% 10.9% 4,937 54,329 165,660 170,299 105,943 66,563 80,990 91,725 86,498 67,799 50,089 44,640 50,123 42,605 42,319 33,936 34,550 29,850 26,296 20,370 6,159 32.2% 25.4% 26.0% 27.7% 25.3% 23.9% 22.2% 23.1% 21.8% 19.3% 18.5% 18.9% 17.9% 16.3% 16.6% 16.5% 16.5% 16.1% 16.5% 17.8% 17.2% 28.9% 22.3% 22.4% 24.1% 21.9% 21.1% 19.2% 20.0% 18.9% 16.8% 15.8% 16.1% 15.1% 14.0% 13.9% 14.1% 14.0% 13.9% 14.3% 15.1% 14.8% 1,270,234 9.0% 5.5% 1,300,838 16.5% 13.1% 1,275,680 22.4% 19.3% Loan payment status is not reported by servicers after program disqualification (90+ days delinquent). Therefore, 90+ days delinquent loans are included in each of the 60+ and 90+ days delinquent metrics for all future reporting periods, even though some loans may have cured or paid off following program disqualification. In addition, once a loan is reported as paid off it is no longer reflected in future periods. 37 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 7: Performance of HAMP Modifications by Vintage HAMP Tier 1 Mod. Effective in: 2009Q3 2009Q4 2010Q1 2010Q2 2010Q3 2010Q4 2011Q1 2011Q2 2011Q3 2011Q4 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1 2013Q2 2013Q3 2013Q4 2014Q1 2014Q2 2014Q3 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 All 24 # Delinquency: Months After Conversion to Permanent Modification 36 48 60+ Days 90+ Days # 60+ Days 90+ Days # 60+ Days 90+ Days 60 # 60+ Days 90+ Days 5,040 55,273 167,456 178,424 105,998 66,326 80,640 91,306 84,981 67,518 50,596 44,844 50,383 42,732 42,101 34,073 34,673 29,823 8,545 36.9% 31.6% 31.8% 31.0% 29.4% 29.5% 27.5% 27.3% 25.8% 23.3% 22.5% 22.1% 20.9% 19.9% 19.9% 19.1% 18.7% 19.1% 19.2% 33.6% 28.4% 28.7% 28.7% 26.8% 26.5% 24.8% 25.0% 23.4% 21.0% 20.0% 20.0% 18.5% 17.6% 17.7% 17.3% 16.8% 17.0% 16.9% 5,140 56,089 165,743 174,673 104,280 65,837 80,772 91,356 86,716 67,611 50,125 44,760 49,643 42,101 13,066 43.9% 39.7% 39.7% 39.2% 37.1% 36.3% 33.8% 33.1% 31.0% 28.5% 27.9% 27.0% 25.5% 24.2% 24.0% 41.8% 37.2% 37.4% 37.4% 35.2% 34.2% 31.8% 31.6% 29.2% 26.8% 26.0% 25.5% 24.0% 22.6% 22.2% 5,046 55,850 165,516 173,971 104,883 65,854 80,300 90,841 84,842 66,508 16,558 50.1% 44.9% 44.5% 43.7% 41.2% 40.4% 37.9% 37.1% 35.4% 32.3% 31.6% 48.4% 43.1% 42.9% 42.5% 39.8% 38.8% 36.5% 36.0% 34.2% 30.9% 30.3% 5,029 55,105 163,045 172,724 102,590 64,765 27,325 54.0% 48.9% 48.4% 47.1% 45.0% 43.7% 41.9% 52.5% 47.5% 47.1% 46.1% 43.9% 42.5% 40.9% 1,240,732 26.8% 24.3% 1,097,912 34.4% 32.5% 910,169 40.4% 39.0% 590,583 46.7% 45.6% Loan payment status is not reported by servicers after program disqualification (90+ days delinquent). Therefore, 90+ days delinquent loans are included in each of the 60+ and 90+ days delinquent metrics for all future reporting periods, even though some loans may have cured or paid off following program disqualification. In addition, once a loan is reported as paid off it is no longer reflected in future periods. 38 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 7: Performance of HAMP Modifications by Vintage HAMP Tier 2 Mod. Effective in: 2012Q3 2012Q4 2013Q1 2013Q2 2013Q3 2013Q4 2014Q1 2014Q2 2014Q3 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 All Mod. Effective in: 2012Q3 2012Q4 2013Q1 2013Q2 2013Q3 2013Q4 2014Q1 2014Q2 2014Q3 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 All 3 # 0 946 2,481 4,102 11,191 11,220 10,514 10,896 9,204 11,113 13,134 13,983 14,363 4,174 117,321 60+ Days 90+ Days 0.0% 5.3% 4.3% 5.3% 5.9% 5.9% 4.1% 5.5% 5.8% 5.8% 4.5% 6.0% 6.8% 6.2% 5.6% 24 # Delinquency: Months After Conversion to Permanent Modification 6 12 0.0% 1.3% 1.4% 1.5% 2.0% 2.0% 1.4% 1.5% 2.0% 1.9% 1.2% 1.6% 2.1% 2.0% 1.7% # 60+ Days 90+ Days # 60+ Days 90+ Days 18 # 0 1,114 2,715 4,454 13,203 11,788 11,618 11,203 9,528 12,743 14,126 14,273 4,813 0.0% 9.7% 12.4% 13.8% 13.8% 11.8% 12.2% 13.0% 12.8% 11.2% 12.0% 14.0% 15.5% 0.0% 5.3% 7.1% 7.9% 8.2% 7.3% 6.7% 7.3% 8.0% 6.4% 6.5% 8.4% 9.1% 0 1,186 2,876 5,052 13,624 12,601 12,045 11,322 9,993 12,955 5,165 0.0% 23.4% 24.8% 21.8% 22.3% 22.2% 21.7% 19.9% 20.0% 21.3% 21.5% 0.0% 17.2% 19.4% 17.4% 16.7% 17.0% 17.1% 15.8% 15.3% 16.1% 15.9% 1 1,245 2,978 5,156 13,526 12,511 11,831 11,231 3,532 100.0% 28.0% 31.0% 29.2% 29.0% 26.8% 26.8% 26.5% 27.0% 100.0% 23.1% 26.7% 24.6% 24.8% 23.4% 23.0% 22.2% 22.2% 111,578 12.8% 7.4% 86,819 21.5% 16.5% 62,011 27.6% 23.6% Delinquency: Months After Conversion to Permanent Modification 36 48 60+ Days 90+ Days 60+ Days 90+ Days # 60+ Days 90+ Days 1 1,258 3,013 5,194 13,833 12,643 3,925 100.0% 33.3% 35.8% 32.3% 32.0% 31.4% 31.5% 100.0% 28.5% 32.2% 29.1% 28.6% 27.9% 27.8% 1 1,283 828 100.0% 38.8% 40.0% 100.0% 34.3% 38.2% 39,867 32.1% 28.7% 2,112 39.3% 35.8% # 60+ Days 90+ Days 60 # 60+ Days 90+ Days Loan payment status is not reported by servicers after program disqualification (90+ days delinquent). Therefore, 90+ days delinquent loans are included in each of the 60+ and 90+ days delinquent metrics for all future reporting periods, even though some loans may have cured or paid off following program disqualification. In addition, once a loan is reported as paid off it is no longer reflected in future periods. 39 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 8: HAMP Activity by MSA Metropolitan Statistical Area Abilene, TX Metropolitan Statistical Area Aguadilla-Isabela, PR Metropolitan Statistical Area Akron, OH Metropolitan Statistical Area Albany, GA Metropolitan Statistical Area Albany, OR Metropolitan Statistical Area Albany-Schenectady-Troy, NY Metropolitan Statistical Area Albuquerque, NM Metropolitan Statistical Area Alexandria, LA Metropolitan Statistical Area Allentown-Bethlehem-Easton, PA-NJ Metropolitan Statistical Area Altoona, PA Metropolitan Statistical Area Amarillo, TX Metropolitan Statistical Area Ames, IA Metropolitan Statistical Area Anchorage, AK Metropolitan Statistical Area Ann Arbor, MI Metropolitan Statistical Area Anniston-Oxford-Jacksonville, AL Metropolitan Statistical Area Appleton, WI Metropolitan Statistical Area Arecibo, PR Metropolitan Statistical Area Asheville, NC Metropolitan Statistical Area Athens-Clarke County, GA Metropolitan Statistical Area Atlanta-Sandy Springs-Roswell, GA Metropolitan Statistical Area Atlantic City-Hammonton, NJ Metropolitan Statistical Area Auburn-Opelika, AL Metropolitan Statistical Area Augusta-Richmond County, GA-SC Metropolitan Statistical Area Austin-Round Rock, TX Metropolitan Statistical Area Bakersfield, CA Metropolitan Statistical Area Baltimore-Columbia-Towson, MD Metropolitan Statistical Area Bangor, ME Metropolitan Statistical Area Barnstable Town, MA Metropolitan Statistical Area Baton Rouge, LA Metropolitan Statistical Area Battle Creek, MI Metropolitan Statistical Area Bay City, MI Metropolitan Statistical Area Beaumont-Port Arthur, TX Metropolitan Statistical Area Beckley, WV Metropolitan Statistical Area Bellingham, WA Metropolitan Statistical Area Bend-Redmond, OR Metropolitan Statistical Area Billings, MT Metropolitan Statistical Area Binghamton, NY Metropolitan Statistical Area Birmingham-Hoover, AL Metropolitan Statistical Area Bismarck, ND Metropolitan Statistical Area Blacksburg-Christiansburg-Radford, VA Metropolitan Statistical Area Bloomington, IL Metropolitan Statistical Area Bloomington, IN Metropolitan Statistical Area Bloomsburg-Berwick, PA Metropolitan Statistical Area Boise City, ID Metropolitan Statistical Area Boston-Cambridge-Newton, MA-NH Metropolitan Statistical Area Boulder, CO Metropolitan Statistical Area Bowling Green, KY Metropolitan Statistical Area Bremerton-Silverdale, WA Metropolitan Statistical Area Bridgeport-Stamford-Norwalk, CT Metropolitan Statistical Area Permanent Modifications Started 77 204 2,771 356 250 1,928 3,580 189 4,526 159 155 67 566 1,245 196 384 160 1,392 587 45,237 2,623 286 1,104 2,976 8,425 17,660 397 1,909 2,563 455 292 373 71 647 1,286 162 303 3,880 55 188 235 236 57 3,091 26,205 676 186 1,031 7,055 Median Monthly Payment Reduction Median Monthly Payment Reduction % of PreModification Payment $196.03 $247.31 $301.00 $240.59 $339.20 $356.78 $334.07 $243.02 $398.31 $220.94 $257.88 $279.62 $506.52 $420.22 $219.60 $305.52 $261.16 $350.45 $306.87 $375.20 $491.69 $282.66 $263.21 $328.55 $472.44 $469.48 $305.68 $612.26 $263.18 $267.80 $236.50 $220.00 $217.17 $477.30 $526.06 $286.95 $241.03 $281.30 $342.59 $299.30 $295.39 $257.42 $264.88 $382.38 $621.70 $482.84 $243.47 $469.19 $700.98 33% 35% 37% 31% 33% 34% 33% 31% 34% 32% 36% 32% 33% 36% 31% 34% 36% 33% 34% 37% 38% 29% 34% 33% 37% 32% 34% 36% 31% 38% 36% 34% 35% 34% 37% 28% 35% 33% 34% 30% 35% 30% 40% 34% 36% 34% 34% 31% 40% 40 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 8: HAMP Activity by MSA Metropolitan Statistical Area Brownsville-Harlingen, TX Metropolitan Statistical Area Brunswick, GA Metropolitan Statistical Area Buffalo-Cheektowaga-Niagara Falls, NY Metropolitan Statistical Area Burlington, NC Metropolitan Statistical Area Burlington-South Burlington, VT Metropolitan Statistical Area California-Lexington Park, MD Metropolitan Statistical Area Canton-Massillon, OH Metropolitan Statistical Area Cape Coral-Fort Myers, FL Metropolitan Statistical Area Cape Girardeau, MO-IL Metropolitan Statistical Area Carbondale-Marion, IL Metropolitan Statistical Area Carson City, NV Metropolitan Statistical Area Casper, WY Metropolitan Statistical Area Cedar Rapids, IA Metropolitan Statistical Area Chambersburg-Waynesboro, PA Metropolitan Statistical Area Champaign-Urbana, IL Metropolitan Statistical Area Charleston, WV Metropolitan Statistical Area Charleston-North Charleston, SC Metropolitan Statistical Area Charlotte-Concord-Gastonia, NC-SC Metropolitan Statistical Area Charlottesville, VA Metropolitan Statistical Area Chattanooga, TN-GA Metropolitan Statistical Area Cheyenne, WY Metropolitan Statistical Area Chicago-Naperville-Elgin, IL-IN-WI Metropolitan Statistical Area Chico, CA Metropolitan Statistical Area Cincinnati, OH-KY-IN Metropolitan Statistical Area Clarksville, TN-KY Metropolitan Statistical Area Cleveland, TN Metropolitan Statistical Area Cleveland-Elyria, OH Metropolitan Statistical Area Coeur d'Alene, ID Metropolitan Statistical Area College Station-Bryan, TX Metropolitan Statistical Area Colorado Springs, CO Metropolitan Statistical Area Columbia, MO Metropolitan Statistical Area Columbia, SC Metropolitan Statistical Area Columbus, GA-AL Metropolitan Statistical Area Columbus, IN Metropolitan Statistical Area Columbus, OH Metropolitan Statistical Area Corpus Christi, TX Metropolitan Statistical Area Corvallis, OR Metropolitan Statistical Area Crestview-Fort Walton Beach-Destin, FL Metropolitan Statistical Area Cumberland, MD-WV Metropolitan Statistical Area Dallas-Fort Worth-Arlington, TX Metropolitan Statistical Area Dalton, GA Metropolitan Statistical Area Danville, IL Metropolitan Statistical Area Danville, VA Metropolitan Statistical Area Daphne-Fairhope-Foley, AL Metropolitan Statistical Area Davenport-Moline-Rock Island, IA-IL Metropolitan Statistical Area Dayton, OH Metropolitan Statistical Area Decatur, AL Metropolitan Statistical Area Decatur, IL Metropolitan Statistical Area Deltona-Daytona Beach-Ormond Beach, FL Metropolitan Statistical Area Permanent Modifications Started 616 278 1,752 452 455 377 1,365 5,316 117 65 417 136 368 280 225 176 3,288 10,504 660 1,507 152 79,778 1,184 6,561 279 245 9,161 680 140 2,151 179 2,780 807 135 5,845 431 114 904 157 16,387 505 64 53 407 603 2,239 203 104 6,386 Median Monthly Median Monthly Payment Payment Reduction % of PreReduction Modification Payment $231.77 $329.82 $260.47 $260.60 $416.69 $548.21 $264.46 $471.71 $227.73 $264.77 $520.56 $350.03 $258.96 $356.53 $243.19 $220.35 $350.92 $312.44 $386.38 $276.64 $272.95 $510.93 $459.38 $309.63 $222.24 $260.75 $309.04 $414.03 $224.78 $391.71 $243.17 $268.04 $273.75 $216.55 $320.56 $241.80 $362.93 $422.33 $246.68 $296.46 $264.46 $204.23 $172.03 $351.01 $243.87 $266.10 $228.18 $206.32 $387.92 35% 34% 35% 32% 35% 32% 35% 40% 31% 44% 37% 30% 33% 33% 31% 33% 33% 33% 31% 34% 27% 41% 34% 35% 31% 33% 38% 33% 28% 33% 32% 33% 34% 31% 36% 32% 27% 36% 32% 33% 35% 39% 23% 35% 36% 36% 29% 35% 38% 41 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 8: HAMP Activity by MSA Metropolitan Statistical Area Denver-Aurora-Lakewood, CO Metropolitan Statistical Area Des Moines-West Des Moines, IA Metropolitan Statistical Area Detroit-Warren-Dearborn, MI Metropolitan Statistical Area Dothan, AL Metropolitan Statistical Area Dover, DE Metropolitan Statistical Area Dubuque, IA Metropolitan Statistical Area Duluth, MN-WI Metropolitan Statistical Area Durham-Chapel Hill, NC Metropolitan Statistical Area East Stroudsburg, PA Metropolitan Statistical Area Eau Claire, WI Metropolitan Statistical Area El Centro, CA Metropolitan Statistical Area Elizabethtown-Fort Knox, KY Metropolitan Statistical Area Elkhart-Goshen, IN Metropolitan Statistical Area Elmira, NY Metropolitan Statistical Area El Paso, TX Metropolitan Statistical Area Erie, PA Metropolitan Statistical Area Eugene, OR Metropolitan Statistical Area Evansville, IN-KY Metropolitan Statistical Area Fairbanks, AK Metropolitan Statistical Area Fargo, ND-MN Metropolitan Statistical Area Farmington, NM Metropolitan Statistical Area Fayetteville, NC Metropolitan Statistical Area Fayetteville-Springdale-Rogers, AR-MO Metropolitan Statistical Area Flagstaff, AZ Metropolitan Statistical Area Flint, MI Metropolitan Statistical Area Florence, SC Metropolitan Statistical Area Florence-Muscle Shoals, AL Metropolitan Statistical Area Fond du Lac, WI Metropolitan Statistical Area Fort Collins, CO Metropolitan Statistical Area Fort Smith, AR-OK Metropolitan Statistical Area Fort Wayne, IN Metropolitan Statistical Area Fresno, CA Metropolitan Statistical Area Gadsden, AL Metropolitan Statistical Area Gainesville, FL Metropolitan Statistical Area Gainesville, GA Metropolitan Statistical Area Gettysburg, PA Metropolitan Statistical Area Glens Falls, NY Metropolitan Statistical Area Goldsboro, NC Metropolitan Statistical Area Grand Forks, ND-MN Metropolitan Statistical Area Grand Island, NE Metropolitan Statistical Area Grand Junction, CO Metropolitan Statistical Area Grand Rapids-Wyoming, MI Metropolitan Statistical Area Grants Pass, OR Metropolitan Statistical Area Great Falls, MT Metropolitan Statistical Area Greeley, CO Metropolitan Statistical Area Green Bay, WI Metropolitan Statistical Area Greensboro-High Point, NC Metropolitan Statistical Area Greenville, NC Metropolitan Statistical Area Greenville-Anderson-Mauldin, SC Metropolitan Statistical Area Guayama, PR Metropolitan Statistical Area Permanent Modifications Started 12,522 1,532 26,005 201 975 112 722 1,460 1,372 253 1,572 151 638 126 1,443 418 1,244 470 67 189 130 719 1,249 338 1,878 556 159 182 892 259 937 9,101 190 750 1,163 275 387 186 65 37 590 3,346 350 83 1,145 619 2,721 386 2,544 45 Median Monthly Median Monthly Payment Payment Reduction % of PreReduction Modification Payment $405.82 $273.58 $376.19 $217.68 $391.38 $253.24 $283.99 $322.44 $479.93 $288.36 $436.87 $238.72 $259.41 $263.36 $249.76 $244.05 $387.82 $212.91 $381.06 $275.83 $299.96 $237.57 $292.53 $526.70 $325.28 $228.13 $213.49 $295.97 $405.73 $207.82 $241.07 $477.60 $233.42 $334.68 $331.01 $439.35 $330.37 $248.67 $228.97 $241.89 $412.05 $285.52 $532.32 $257.52 $357.62 $348.26 $286.53 $272.33 $262.27 $171.27 33% 32% 39% 30% 30% 35% 33% 34% 41% 33% 35% 30% 34% 40% 34% 39% 33% 31% 26% 30% 27% 34% 34% 34% 37% 32% 34% 34% 31% 30% 35% 37% 32% 36% 36% 37% 37% 35% 30% 35% 32% 34% 40% 29% 30% 38% 34% 34% 32% 33% 42 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 8: HAMP Activity by MSA Metropolitan Statistical Area Gulfport-Biloxi-Pascagoula, MS Metropolitan Statistical Area Hagerstown-Martinsburg, MD-WV Metropolitan Statistical Area Hammond, LA Metropolitan Statistical Area Hanford-Corcoran, CA Metropolitan Statistical Area Harrisburg-Carlisle, PA Metropolitan Statistical Area Harrisonburg, VA Metropolitan Statistical Area Hartford-West Hartford-East Hartford, CT Metropolitan Statistical Area Hattiesburg, MS Metropolitan Statistical Area Hickory-Lenoir-Morganton, NC Metropolitan Statistical Area Hilton Head Island-Bluffton-Beaufort, SC Metropolitan Statistical Area Hinesville, GA Metropolitan Statistical Area Homosassa Springs, FL Metropolitan Statistical Area Hot Springs, AR Metropolitan Statistical Area Houma-Thibodaux, LA Metropolitan Statistical Area Houston-The Woodlands-Sugar Land, TX Metropolitan Statistical Area Huntington-Ashland, WV-KY-OH Metropolitan Statistical Area Huntsville, AL Metropolitan Statistical Area Idaho Falls, ID Metropolitan Statistical Area Indianapolis-Carmel-Anderson, IN Metropolitan Statistical Area Iowa City, IA Metropolitan Statistical Area Ithaca, NY Metropolitan Statistical Area Jackson, MI Metropolitan Statistical Area Jackson, MS Metropolitan Statistical Area Jackson, TN Metropolitan Statistical Area Jacksonville, FL Metropolitan Statistical Area Jacksonville, NC Metropolitan Statistical Area Janesville-Beloit, WI Metropolitan Statistical Area Jefferson City, MO Metropolitan Statistical Area Johnson City, TN Metropolitan Statistical Area Johnstown, PA Metropolitan Statistical Area Jonesboro, AR Metropolitan Statistical Area Joplin, MO Metropolitan Statistical Area Kahului-Wailuku-Lahaina, HI Metropolitan Statistical Area Kalamazoo-Portage, MI Metropolitan Statistical Area Kankakee, IL Metropolitan Statistical Area Kansas City, MO-KS Metropolitan Statistical Area Kennewick-Richland, WA Metropolitan Statistical Area Killeen-Temple, TX Metropolitan Statistical Area Kingsport-Bristol-Bristol, TN-VA Metropolitan Statistical Area Kingston, NY Metropolitan Statistical Area Knoxville, TN Metropolitan Statistical Area Kokomo, IN Metropolitan Statistical Area La Crosse-Onalaska, WI-MN Metropolitan Statistical Area Lafayette, LA Metropolitan Statistical Area Lafayette-West Lafayette, IN Metropolitan Statistical Area Lake Charles, LA Metropolitan Statistical Area Lake Havasu City-Kingman, AZ Metropolitan Statistical Area Lakeland-Winter Haven, FL Metropolitan Statistical Area Lancaster, PA Metropolitan Statistical Area Lansing-East Lansing, MI Metropolitan Statistical Area Permanent Modifications Started 953 1,702 242 957 1,222 258 6,067 250 1,114 632 131 461 155 293 17,461 339 693 311 5,971 109 57 657 1,859 328 10,630 184 604 159 276 115 90 248 952 911 457 6,180 395 302 382 1,047 1,898 238 151 636 264 289 1,311 4,688 1,161 1,613 Median Monthly Median Monthly Payment Reduction % of Payment Pre-Modification Reduction Payment $265.66 $427.87 $292.01 $423.18 $307.04 $407.98 $452.04 $236.68 $246.42 $519.53 $252.85 $358.27 $313.44 $248.53 $284.63 $234.88 $239.49 $262.63 $272.43 $313.84 $343.54 $289.30 $250.02 $234.00 $370.13 $270.98 $263.52 $205.58 $243.60 $233.63 $241.86 $204.82 $1,048.08 $305.70 $345.20 $311.33 $272.32 $219.31 $244.15 $495.64 $261.18 $226.60 $263.54 $242.70 $263.60 $227.90 $408.40 $367.60 $306.28 $313.97 34% 33% 35% 34% 32% 35% 36% 32% 32% 41% 32% 42% 38% 32% 34% 35% 30% 26% 32% 31% 34% 36% 32% 34% 35% 30% 34% 29% 32% 34% 34% 32% 39% 37% 37% 35% 31% 30% 34% 38% 31% 33% 29% 31% 34% 32% 36% 37% 31% 36% 43 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 8: HAMP Activity by MSA Metropolitan Statistical Area Laredo, TX Metropolitan Statistical Area Las Cruces, NM Metropolitan Statistical Area Las Vegas-Henderson-Paradise, NV Metropolitan Statistical Area Lawrence, KS Metropolitan Statistical Area Lawton, OK Metropolitan Statistical Area Lebanon, PA Metropolitan Statistical Area Lewiston, ID-WA Metropolitan Statistical Area Lewiston-Auburn, ME Metropolitan Statistical Area Lexington-Fayette, KY Metropolitan Statistical Area Lima, OH Metropolitan Statistical Area Lincoln, NE Metropolitan Statistical Area Little Rock-North Little Rock-Conway, AR Metropolitan Statistical Area Logan, UT-ID Metropolitan Statistical Area Longview, TX Metropolitan Statistical Area Longview, WA Metropolitan Statistical Area Los Angeles-Long Beach-Anaheim, CA Metropolitan Statistical Area Louisville/Jefferson County, KY-IN Metropolitan Statistical Area Lubbock, TX Metropolitan Statistical Area Lynchburg, VA Metropolitan Statistical Area Macon, GA Metropolitan Statistical Area Madera, CA Metropolitan Statistical Area Madison, WI Metropolitan Statistical Area Manchester-Nashua, NH Metropolitan Statistical Area Manhattan, KS Metropolitan Statistical Area Mankato-North Mankato, MN Metropolitan Statistical Area Mansfield, OH Metropolitan Statistical Area Mayaguez, PR Metropolitan Statistical Area McAllen-Edinburg-Mission, TX Metropolitan Statistical Area Medford, OR Metropolitan Statistical Area Memphis, TN-MS-AR Metropolitan Statistical Area Merced, CA Metropolitan Statistical Area Miami-Fort Lauderdale-West Palm Beach, FL Metropolitan Statistical Area Michigan City-La Porte, IN Metropolitan Statistical Area Midland, MI Metropolitan Statistical Area Midland, TX Metropolitan Statistical Area Milwaukee-Waukesha-West Allis, WI Metropolitan Statistical Area Minneapolis-St. Paul-Bloomington, MN-WI Metropolitan Statistical Area Missoula, MT Metropolitan Statistical Area Mobile, AL Metropolitan Statistical Area Modesto, CA Metropolitan Statistical Area Monroe, LA Metropolitan Statistical Area Monroe, MI Metropolitan Statistical Area Montgomery, AL Metropolitan Statistical Area Morgantown, WV Metropolitan Statistical Area Morristown, TN Metropolitan Statistical Area Mount Vernon-Anacortes, WA Metropolitan Statistical Area Muncie, IN Metropolitan Statistical Area Muskegon, MI Metropolitan Statistical Area Myrtle Beach-Conway-North Myrtle Beach, SC-NC Metropolitan Statistical Area Napa, CA Metropolitan Statistical Area Permanent Modifications Started 562 376 27,348 169 103 281 99 345 866 223 387 1,256 219 157 432 111,155 3,430 188 498 933 1,731 1,248 2,240 64 163 331 85 1,308 1,280 7,854 2,525 81,984 374 107 73 6,198 19,049 260 1,302 6,836 234 765 897 52 277 509 198 637 1,847 1,168 Median Monthly Median Monthly Payment Payment Reduction % of PreReduction Modification Payment $290.89 $323.92 $525.86 $323.35 $215.80 $292.41 $249.62 $332.18 $297.53 $244.48 $265.02 $244.58 $309.38 $232.60 $380.38 $805.10 $266.99 $219.19 $255.40 $274.32 $507.44 $392.60 $476.44 $330.37 $303.73 $238.37 $209.29 $250.35 $458.41 $295.73 $529.02 $538.45 $248.02 $296.96 $249.77 $356.53 $449.21 $412.98 $258.94 $562.10 $214.80 $354.01 $236.71 $379.46 $258.04 $517.72 $211.21 $247.88 $378.98 $824.47 37% 31% 38% 32% 32% 30% 24% 34% 35% 39% 32% 32% 28% 33% 33% 38% 33% 31% 29% 36% 38% 34% 34% 32% 30% 34% 35% 34% 35% 36% 38% 42% 33% 41% 30% 37% 36% 31% 36% 37% 28% 35% 30% 38% 32% 37% 34% 37% 36% 35% 44 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 8: HAMP Activity by MSA Metropolitan Statistical Area Naples-Immokalee-Marco Island, FL Metropolitan Statistical Area Nashville-Davidson--Murfreesboro--Franklin, TN Metropolitan Statistical Area New Bern, NC Metropolitan Statistical Area New Haven-Milford, CT Metropolitan Statistical Area New Orleans-Metairie, LA Metropolitan Statistical Area New York-Newark-Jersey City, NY-NJ-PA Metropolitan Statistical Area Niles-Benton Harbor, MI Metropolitan Statistical Area North Port-Sarasota-Bradenton, FL Metropolitan Statistical Area Norwich-New London, CT Metropolitan Statistical Area Ocala, FL Metropolitan Statistical Area Ocean City, NJ Metropolitan Statistical Area Odessa, TX Metropolitan Statistical Area Ogden-Clearfield, UT Metropolitan Statistical Area Oklahoma City, OK Metropolitan Statistical Area Olympia-Tumwater, WA Metropolitan Statistical Area Omaha-Council Bluffs, NE-IA Metropolitan Statistical Area Orlando-Kissimmee-Sanford, FL Metropolitan Statistical Area Oshkosh-Neenah, WI Metropolitan Statistical Area Owensboro, KY Metropolitan Statistical Area Oxnard-Thousand Oaks-Ventura, CA Metropolitan Statistical Area Palm Bay-Melbourne-Titusville, FL Metropolitan Statistical Area Panama City, FL Metropolitan Statistical Area Parkersburg-Vienna, WV Metropolitan Statistical Area Pensacola-Ferry Pass-Brent, FL Metropolitan Statistical Area Peoria, IL Metropolitan Statistical Area Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Metropolitan Statistical Area Phoenix-Mesa-Scottsdale, AZ Metropolitan Statistical Area Pine Bluff, AR Metropolitan Statistical Area Pittsburgh, PA Metropolitan Statistical Area Pittsfield, MA Metropolitan Statistical Area Pocatello, ID Metropolitan Statistical Area Ponce, PR Metropolitan Statistical Area Portland-South Portland, ME Metropolitan Statistical Area Portland-Vancouver-Hillsboro, OR-WA Metropolitan Statistical Area Port St. Lucie, FL Metropolitan Statistical Area Prescott, AZ Metropolitan Statistical Area Providence-Warwick, RI-MA Metropolitan Statistical Area Provo-Orem, UT Metropolitan Statistical Area Pueblo, CO Metropolitan Statistical Area Punta Gorda, FL Metropolitan Statistical Area Racine, WI Metropolitan Statistical Area Raleigh, NC Metropolitan Statistical Area Rapid City, SD Metropolitan Statistical Area Reading, PA Metropolitan Statistical Area Redding, CA Metropolitan Statistical Area Reno, NV Metropolitan Statistical Area Richmond, VA Metropolitan Statistical Area Riverside-San Bernardino-Ontario, CA Metropolitan Statistical Area Roanoke, VA Metropolitan Statistical Area Rochester, MN Metropolitan Statistical Area Permanent Modifications Started 2,520 5,388 132 5,975 4,587 115,894 503 5,512 1,515 2,606 624 65 1,874 1,978 1,100 1,860 27,739 289 134 7,774 4,738 665 107 1,777 492 30,108 43,456 92 4,678 256 178 200 2,633 11,706 5,375 1,363 11,513 2,613 649 1,292 773 3,701 156 1,474 1,182 4,075 6,074 69,048 801 427 Median Monthly Median Monthly Payment Payment Reduction % of PreReduction Modification Payment $607.95 $312.05 $296.15 $474.96 $330.10 $792.98 $270.80 $469.35 $476.47 $356.52 $472.66 $206.27 $354.71 $256.27 $433.43 $273.31 $453.88 $278.55 $189.20 $832.08 $397.96 $387.33 $185.44 $305.94 $225.89 $395.53 $458.19 $222.77 $266.25 $330.31 $255.23 $242.82 $443.93 $477.43 $455.54 $443.28 $532.16 $457.09 $267.03 $441.73 $354.54 $340.76 $320.99 $337.41 $447.91 $526.84 $365.24 $633.64 $275.45 $324.73 42% 33% 39% 36% 35% 39% 34% 39% 37% 37% 33% 31% 28% 33% 32% 34% 38% 35% 32% 36% 38% 37% 30% 34% 34% 33% 37% 35% 35% 33% 31% 38% 35% 34% 39% 36% 38% 32% 35% 41% 36% 32% 34% 33% 34% 36% 32% 37% 32% 33% 45 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 8: HAMP Activity by MSA Metropolitan Statistical Area Rochester, NY Metropolitan Statistical Area Rockford, IL Metropolitan Statistical Area Rocky Mount, NC Metropolitan Statistical Area Rome, GA Metropolitan Statistical Area Sacramento--Roseville--Arden-Arcade, CA Metropolitan Statistical Area Saginaw, MI Metropolitan Statistical Area St. Cloud, MN Metropolitan Statistical Area St. George, UT Metropolitan Statistical Area St. Joseph, MO-KS Metropolitan Statistical Area St. Louis, MO-IL Metropolitan Statistical Area Salem, OR Metropolitan Statistical Area Salinas, CA Metropolitan Statistical Area Salisbury, MD-DE Metropolitan Statistical Area Salt Lake City, UT Metropolitan Statistical Area San Angelo, TX Metropolitan Statistical Area San Antonio-New Braunfels, TX Metropolitan Statistical Area San Diego-Carlsbad, CA Metropolitan Statistical Area Sandusky, OH Metropolitan Statistical Area San Francisco-Oakland-Hayward, CA Metropolitan Statistical Area San German, PR Metropolitan Statistical Area San Jose-Sunnyvale-Santa Clara, CA Metropolitan Statistical Area San Juan-Carolina-Caguas, PR Metropolitan Statistical Area San Luis Obispo-Paso Robles-Arroyo Grande, CA Metropolitan Statistical Area Santa Cruz-Watsonville, CA Metropolitan Statistical Area Santa Fe, NM Metropolitan Statistical Area Santa Maria-Santa Barbara, CA Metropolitan Statistical Area Santa Rosa, CA Metropolitan Statistical Area Savannah, GA Metropolitan Statistical Area Scranton--Wilkes-Barre--Hazleton, PA Metropolitan Statistical Area Seattle-Tacoma-Bellevue, WA Metropolitan Statistical Area Sebastian-Vero Beach, FL Metropolitan Statistical Area Sebring, FL Metropolitan Statistical Area Sheboygan, WI Metropolitan Statistical Area Sherman-Denison, TX Metropolitan Statistical Area Shreveport-Bossier City, LA Metropolitan Statistical Area Sierra Vista-Douglas, AZ Metropolitan Statistical Area Sioux City, IA-NE-SD Metropolitan Statistical Area Sioux Falls, SD Metropolitan Statistical Area South Bend-Mishawaka, IN-MI Metropolitan Statistical Area Spartanburg, SC Metropolitan Statistical Area Spokane-Spokane Valley, WA Metropolitan Statistical Area Springfield, IL Metropolitan Statistical Area Springfield, MA Metropolitan Statistical Area Springfield, MO Metropolitan Statistical Area Springfield, OH Metropolitan Statistical Area State College, PA Metropolitan Statistical Area Staunton-Waynesboro, VA Metropolitan Statistical Area Stockton-Lodi, CA Metropolitan Statistical Area Sumter, SC Metropolitan Statistical Area Syracuse, NY Metropolitan Statistical Area Permanent Modifications Started 1,806 1,485 416 190 23,306 478 512 1,072 201 11,564 1,725 3,540 1,514 5,902 54 3,621 24,871 70 30,245 90 9,712 3,885 1,591 1,565 646 2,727 4,164 1,382 1,523 21,053 1,168 351 229 178 864 207 202 250 1,053 931 1,669 215 2,891 788 365 157 185 9,666 227 846 Median Monthly Median Monthly Payment Payment Reduction % of PreReduction Modification Payment $263.35 $322.70 $252.55 $237.20 $608.87 $262.13 $326.80 $532.28 $248.07 $301.09 $384.61 $869.12 $417.60 $422.13 $197.37 $252.89 $758.00 $217.68 $865.99 $243.70 $954.68 $296.11 $767.47 $973.26 $516.34 $732.40 $806.00 $321.93 $284.21 $556.66 $401.33 $401.61 $283.23 $228.96 $243.70 $326.78 $239.18 $227.36 $251.00 $245.96 $326.91 $240.90 $362.73 $260.80 $262.63 $358.66 $379.25 $646.32 $224.42 $254.88 36% 38% 36% 31% 36% 36% 32% 37% 37% 35% 34% 40% 35% 33% 29% 32% 36% 27% 37% 36% 37% 37% 36% 38% 35% 38% 37% 34% 36% 34% 38% 43% 32% 31% 32% 36% 35% 26% 35% 32% 32% 36% 34% 33% 38% 34% 36% 37% 34% 35% 46 Making Home Affordable: Appendix Program Performance Report Fourth Quarter 2015 Appendix 8: HAMP Activity by MSA Metropolitan Statistical Area Tallahassee, FL Metropolitan Statistical Area Tampa-St. Petersburg-Clearwater, FL Metropolitan Statistical Area Terre Haute, IN Metropolitan Statistical Area Permanent Modifications Started Median Monthly Median Monthly Payment Reduction % of Payment Pre-Modification Reduction Payment 1,372 $329.19 32% 23,523 $404.70 38% 198 $217.20 38% Texarkana, TX-AR Metropolitan Statistical Area 106 $197.41 30% The Villages, FL Metropolitan Statistical Area 164 $398.22 40% Toledo, OH Metropolitan Statistical Area 2,274 $261.59 36% Topeka, KS Metropolitan Statistical Area 310 $221.20 29% Trenton, NJ Metropolitan Statistical Area 1,799 $486.34 37% Tucson, AZ Metropolitan Statistical Area 6,253 $364.83 35% Tulsa, OK Metropolitan Statistical Area 1,578 $248.38 33% Tuscaloosa, AL Metropolitan Statistical Area 380 $286.94 32% Tyler, TX Metropolitan Statistical Area 242 $303.87 35% 2,924 $766.83 32% Urban Honolulu, HI Metropolitan Statistical Area Utica-Rome, NY Metropolitan Statistical Area 394 $250.12 35% Valdosta, GA Metropolitan Statistical Area 212 $278.23 32% 6,601 $721.82 36% 47 $241.44 35% Vallejo-Fairfield, CA Metropolitan Statistical Area Victoria, TX Metropolitan Statistical Area 798 $358.14 35% Virginia Beach-Norfolk-Newport News, VA-NC Metropolitan Statistical Area Vineland-Bridgeton, NJ Metropolitan Statistical Area 7,495 $393.09 32% Visalia-Porterville, CA Metropolitan Statistical Area 3,974 $423.40 36% 206 $215.47 33% 85 $353.38 35% Waco, TX Metropolitan Statistical Area Walla Walla, WA Metropolitan Statistical Area Warner Robins, GA Metropolitan Statistical Area Washington-Arlington-Alexandria, DC-VA-MD-WV Metropolitan Statistical Area Waterloo-Cedar Falls, IA Metropolitan Statistical Area Watertown-Fort Drum, NY Metropolitan Statistical Area Wausau, WI Metropolitan Statistical Area 348 $276.77 34% 50,835 $638.01 35% 227 $211.45 33% 50 $239.06 30% 202 $295.29 36% 35% Weirton-Steubenville, WV-OH Metropolitan Statistical Area 155 $218.63 Wenatchee, WA Metropolitan Statistical Area 313 $373.26 30% Wheeling, WV-OH Metropolitan Statistical Area 128 $186.72 33% Wichita, KS Metropolitan Statistical Area 867 $242.52 35% 73 $158.96 28% Wichita Falls, TX Metropolitan Statistical Area Williamsport, PA Metropolitan Statistical Area 174 $204.33 31% 1,166 $380.10 34% Winchester, VA-WV Metropolitan Statistical Area 841 $455.61 32% Winston-Salem, NC Metropolitan Statistical Area 1,907 $275.47 33% Worcester, MA-CT Metropolitan Statistical Area 5,825 $502.66 37% 442 $278.42 32% 1,805 $367.42 32% Wilmington, NC Metropolitan Statistical Area Yakima, WA Metropolitan Statistical Area York-Hanover, PA Metropolitan Statistical Area Youngstown-Warren-Boardman, OH-PA Metropolitan Statistical Area 1,410 $255.88 37% Yuba City, CA Metropolitan Statistical Area 1,473 $499.94 36% Yuma, AZ Metropolitan Statistical Area 1,236 $339.29 35% 47
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