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SIGTARP OFFICE OF THE SPECIAL INSPECTOR GENERAL FOR THE TROUBLED ASSET RELIEF PROGRAM CI AL C INSPE TOR GEN E RA UB LE Defendants Already Criminally Charged Y ILT GU Y ILT GU TY UIL G TY UIL G Y ILT GU Y ILT GU TY UIL 343 G Y ILT Y ILT GU Y ILT GU G TY UIL G Y ILT GU Y ILT GU TY UIL Y ILT Y ILT GU Y ILT GU Y ILT Y ILT GU Y ILT GU Y ILT GU TY UIL G Y ILT GU Y ILT GU Y ILT GU Y ILT GU Y ILT GU TY UIL G TY UIL G Y ILT GU Y ILT GU TY UIL TY UIL Y ILT GU G TY UIL G Y ILT GU Y ILT GU TY UIL TY UIL G TY UIL G Y ILT GU Y ILT GU TY UIL 241 G GU GU Y ILT GU Y ILT GU TY UIL GU Criminal Charges are Not Evidence of Guilt Defendants Already Sentenced to Prison Defendants Already Convicted Y ILT GU Y ILT GU Y ILT GU G Y ILT TY UIL G Y ILT GU Y ILT G Y ILT Y ILT GU Y ILT GU TY UIL Y ILT GU Y ILT GU Y ILT 147 GU GU GU Y ILT GU Y ILT GU Y ILT GU Y ILT GU Y ILT GU Y ILT GU Y ILT GU Y ILT GU Y ILT GU Y ILT GU TY UIL Y ILT GU Y ILT GU TY UIL G Y ILT GU Y ILT GU Y ILT GU TY UIL G Y ILT GU Y ILT GU Y ILT GU TY UIL G Y ILT GU R 98 Y ILT GU 78 Bankers charged with a crime 57 Y ILT GU S S E T R E LI E F P Bankers charged with a crime or civil fraud G GU G Y ILT GU G Y ILT GU DA OG RA TRO M L SP E SIGTARP’S IMPACT 35 INCLUDING Y ILT GU Y ILT GU Y ILT GU Y ILT GU Bankers already convicted Y ILT GU Others Await Trial Others Await Sentencing Bankers already sentenced to prison Others Await Trial Others Await Sentencing DOJ Criminal Conduct – DPA/NPA or Complaint Bank of America Goldman Sachs Jefferies SunTrust General Motors Wilmington Trust Bank 200 Recommendations to Improve TARP JPMorgan Chase Morgan Stanley Fifth Third Bank OneFinancial Corporation Imperial Holdings $5.2 Billion Recovered for taxpayers Results of SIGTARP’s work as of 4/15/16 Message from the Special Inspector General for the Troubled Asset Relief Program (“SIGTARP”) SIGTARP successfully identifies previously undetected bank fraud. Nearly half of our bank fraud cases are long-running fraud schemes that started prior to the crisis but were only detected because the bank applied for TARP. In 2009, SIGTARP uncovered a 10-year $2.9 billion massive fraud scheme at Colonial Bank and Taylor, Bean & Whitaker, which DOJ called one of the longest and largest bank fraud schemes in the country. On February 25, 2016, the CEO of Tifton Bank, Pat Hall, was sentenced to 7 years in prison for a fraud scheme SIGTARP uncovered that had been ongoing since 2005. SIGTARP has investigated 78 bank officials who have been charged by prosecutors with a crime. Already 57 have been convicted. Others await trial. Our special agents use an analytical, experience-based approach to self-generate investigations and root out hidden crime, rather than rely on bank self-reporting or examiner referrals. Bank self-reporting is not effective in identifying fraud where top bank executives hid losses and the declining financial condition of the bank -- the hallmark of crisis-era fraud. Instead of relying on traditional notions of bank fraud, SIGTARP analyzes bank information compared to red flags we developed. TARP brought these banks within SIGTARP’s cross-jurisdiction which provides SIGTARP comprehensive oversight including access to documents from multiple Federal agencies. Each red flag may seem inconsequential on its own, but collectively lead to SIGTARP’s investigative process that uncovers hidden crime throughout the financial sector – an investigations process that could be applied in the future to post-crisis crime. SIGTARP has found millions of dollars in bank losses in these “cooked books” fraud schemes, losses that far exceed those from the Savings & Loan crisis -- where in most cases, bank losses were under $25,000. Are bankers going to jail? SIGTARP’s track record is a resounding yes with 35 bankers already sentenced to prison, including: • Tifton Bank: Bank CEO Pat Hall was sentenced to 7 years in prison. • FirstCity Bank: Bank President Mark Conner was sentenced to 12 years in prison, V.P. & Senior Loan Officer Clayton Coe was sentenced to 7 years in prison, and attorney Robert Maloney was sentenced to 3 years in prison. • nited Commercial Bank: UCBH COO and chief credit officer Ebrahim Shabudin was sentenced to U 8 years in prison for securities fraud following a jury verdict, and two other senior bank officers were also convicted. • ierOne Bank: Bank CEO Gil Lundstrom was sentenced to 11 years in prison following a jury verdict T on fraud charges, and two other senior bank officers were sentenced to prison. • ank of the Commonwealth: Bank CEO and Chairman Edward Woodard was sentenced to 23 years, B and two other bank officers were also sentenced to prison. SIGTARP’s exclusive mandate on financial institution crime means we can solely focus on holding bankers and others accountable for wrongdoing. Our focused mission allows us to devote all of our resources, without distraction, to help ensure justice and accountability for crimes that caused bank losses of millions of dollars, making these crimes extremely dangerous to banks and our financial system. Section 3 of this report assesses the surge of non-bank mortgage servicers in HAMP who have already received more than $1 billion in TARP, which raises risks to homeowners and the need for significant oversight. I would be happy to have an opportunity to discuss SIGTARP’s work with you. Respectfully, CHRISTY GOLDSMITH ROMERO Special Inspector General CONTENTS EXECUTIVE SUMMARY 3 Section 1 THE OFFICE OF THE SPECIAL INSPECTOR GENERAL FOR THE TROUBLED ASSET RELIEF PROGRAM SIGTARP Oversight Activities Section 2 SIGTARP RECOMMENDATIONS Recommendations Related to the Hardest Hit Fund Blight Elimination Program Recommendations Related to the Hardest Hit Florida Recommendations Related to the Hardest Hit Fund and State Pension Obligations 9 11 35 38 38 39 Section 3 NON-BANK PRIVATE MORTGAGE SERVICERS WHO HAVE ALREADY RECEIVED MORE THAN $1 BILLION FROM TREASURY ARE INCREASING THEIR PARTICIPATION IN HAMP, WHICH RAISES RISKS TO HOMEOWNERS AND THE NEED FOR SIGNIFICANT OVERSIGHT 63 Introduction 65 Non-Bank Mortgage Servicers Have Less Federal Oversight Than Bank Servicers 66 Non-Bank Mortgage Servicers Have Already Received More Than $1 Billion In Federal Dollars From Treasury 66 Non-Bank Servicers Now Service Mortgages For 56% of All Homeowners In HAMP, Which Includes Servicing Mortgages For 63% of Homeowners New to HAMP Last Year 69 Several Non-Bank Servicers Have Been Subject to Law Enforcement Actions as a Result of Their Failure to Follow Laws or Rules Resulting In Harm to Homeowners 73 Increased Need for Oversight of Non-Bank Servicers In HAMP 76 Section 4 TARP OVERVIEW Housing Support Programs Treasury Opens TARP to Homebuyers The Hardest Hit Fund’s Blight Elimination Program to Demolish Vacant and Abandoned Homes Financial Institution Support Programs Automotive Industry Support Programs Asset Support Programs 77 86 122 127 198 218 220 Section 5 TARP OPERATIONS AND ADMINISTRATION TARP Administrative and Program Operating Expenditures Financial Agents 221 223 224 Endnotes 225 APPENDICES A. Glossary 239 B. Acronyms and Abbreviations 241 C. Transactions Detail 243 D. MHA Supplemental Data 442 E. CPP Supplemental Data 451 F. OFS Service Contracts 500 EXECUTIVE SUMMARY 4 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 SIGTARP successfully identifies previously undetected bank fraud. Nearly half of all bank fraud cases we investigate are long-running fraud schemes that started prior to the crisis but were only detected because the bank applied for TARP bailout funds. For example, starting in 2009, SIGTARP uncovered a 10-year $2.9 billion massive fraud scheme at Colonial Bank and Taylor, Bean & Whitaker, resulting in 8 defendants being sentenced to prison. Then-U.S. Attorney Neil H. MacBride who prosecuted the case called it one of the longest and largest bank fraud schemes in the country. In another example from this quarter, on February 25, 2016, the CEO of Tifton Bank Gary “Pat” Hall was sentenced to 7 years in prison for a fraud scheme SIGTARP uncovered that had been ongoing since 2005. The other half of SIGTARP-investigated bank fraud cases involves crime at a bank during the crisis. SIGTARP has often found in these cases that bank officers engaged in aggressive and risky lending pre-crisis, and then during the crisis, used fraudulent schemes to hide that those loans became past due or had defaulted or that the value of the collateral had dropped. SIGTARP has investigated 78 bank officials who have been charged by prosecutors with a crime.i Already, 57 have been convicted by jury verdict after trial or by pleading guilty. Others await trial. Our special agents and other investigators use an analytical, experience-based approach to self-generate investigations and root out hidden crime, rather than rely on bank self-reporting or referrals from bank examiners. Bank self-reporting often initiates law enforcement investigations but has significant limitations. While bank self-reporting can identify traditional notions of bank fraud, such as borrower fraud against the bank or bank officers who defraud the bank using it as their own personal piggy bank, it is not effective in identifying the type of fraud where top bank executives hid losses and the declining financial condition of the bank—the hallmark of crisis-era fraud.ii That would require those bank officials to self-report their crimes. In addition, referrals from bank examiners are rare in SIGTARP investigations. Instead of relying on traditional notions of bank fraud, SIGTARP uses its expertise of this type of fraud to analyze bank information (bank records and examiner reports) compared to red flags we have developed from our investigations. A bank’s application or receipt of TARP bailout funds brought them within SIGTARP’s cross-jurisdictional bounds over TARP programs, rather than a single agency, providing SIGTARP comprehensive oversight including access to documents from multiple Federal agencies. Each of the red flags we have developed may seem inconsequential on their own, but collectively lead to SIGTARP conducting an investigative process that has uncovered hidden crime throughout the financial sector—an investigative process that could be applied in the future to post-crisis crime. For example, one red flag is a board of directors that lack banking experience and may not be in the best position to serve as a check on management. Another red flag is heavy i An indictment contains allegations that a defendant has committed a crime. Every defendant is presumed innocent until and unless proven guilty in court. ii Bank officials whose fraudulent scheme was based on using the bank as their personal piggy bank was the subject of most law enforcement actions arising out of the Savings & Loan crisis. 5 6 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM concentration of lending to favorite customers that link the fate of the bank with the fate of the customer’s business. Other red flags include a bank exceeding loan-to-value ratio limitations when lending, and/or not adequately analyzing the financial condition of borrowers. These may not be a crime, but we find them in these cases. Bank officials can cross the line and commit a crime when they conceal the truth about the bank’s financial condition in bank records, and in their representations to bank examiners, other regulators, and the investing public.iii While many bank officials saw their bank suffer past-due loans, declining collateral, and increased foreclosures during the crisis, not all resorted to crime. Many of these bankers suffered consequences. Some saw their bank being closed or taken over by another bank. Some experienced difficulty getting capital investments after seeing the bank’s declining financial condition. Other bankers resorted to criminal activity to cook the books, concealing the bank’s faltering state. This “cooked books” type of bank fraud had devastating effects on the health of the bank. SIGTARP often finds a snowball effect, as banks extended even more credit in violation of the banks own policies and the law through fraudulent schemes to mask the extent of loan losses. SIGTARP has found millions of dollars in bank losses in the fraud schemes we uncovered. These losses far exceed losses from fraud that marked the Savings & Loan crisis—where in most cases, bank losses were under $25,000. Are bankers going to jail? SIGTARP’s track record is a resounding yes. While sentencing takes time, 35 bankers investigated by SIGTARP have already been sentenced to prison. Notable cases of bankers investigated by SIGTARP who were sentenced to prison: • Tifton Bank: Bank CEO Pat Hall was sentenced to 7 years in prison. Beginning in 2005, CEO Hall began misleading the bank’s loan committee about loans. He later concealed when those loans went past-due. His fraudulent schemes included circumventing the loan committee to issue a new loan for one property to retire an overdue loan on another property. He overdrafted accounts by more than $900,000 to make loan payments. He fraudulently prepared an application for loans from two federal agencies for a borrower who would use that money to remove an overdue loan at Tifton Bank. When an appraiser found the gates of a plant locked, Hall made false representations to the appraiser including that all equipment was in place and working. • FirstCity Bank: Bank President Mark Conner was sentenced to 12 years in prison, V.P. & Senior Loan Officer Clayton Coe was sentenced to 7 years in prison, and attorney Robert Maloney was sentenced to 3 years in prison. SIGTARP uncovered that beginning in 2004, Conner and Coe convinced the bank to approve multiple multi-million dollar commercial loans to borrowers who, unbeknownst to the bank, were actually purchasing the property owned iii Prosecutors can charge these bank officials with a number of criminal charges that apply, for example: bank fraud, wire fraud, securities fraud, falsifying entries in bank books, false statements to bank examiners, and false certification of bank records. SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 by Conner or his co-conspirators. They made fraudulent misrepresentations to 10 other banks who participated in these loans. They routinely misled bank examiners. To hide the bank’s declining financial position, they made loans to buyers to purchase foreclosed property off the bank’s books. The bank failed at a time when Georgia led the nation in the number of bank failures. • United Commercial Bank Investigation: In March 2015, a jury convicted United Commercial Bank Holdings, Inc. (“UCBH”) COO and chief credit officer Ebrahim Shabudin of securities fraud. He was sentenced to 8 years in prison. Two other senior bank officers were convicted. From 2004 to 2007, United Commercial Bank began aggressively expanding, nearly doubling its loans, with a goal to be a $10 billion bank so that it could become a bank in China. During the crisis, in an attempt to have the bank appear to “break even,” COO Shabudin and co-conspirators manipulated the bank’s books and records, and issued false press releases, filings with examiners, and false financial statements. He fraudulently delayed downgrading the risk ratings of loans. He hid that the inventory of electronics that served as collateral for a major loan turned out to be fake even though bank officials found a warehouse of empty boxes. He hid that other loans had real property as collateral that had significantly declined in value. This was the 9th largest bank to fail since 2008. “UCB is one of the largest criminal prosecutions brought by the U.S. Department of Justice of wrongdoing by bank officers arising out of the 2008 financial crisis,” said U.S. Attorney Haag. “With actual losses exceeding a half a billion dollars, the prosecution of Shabudin and other senior officers at United Commercial Bank (“UCB”) is one of the most significant financial fraud cases in the history of the Northern District of California.” • TierOne Bank Investigation: On November 6, 2015, following a SIGTARP investigation, a Federal jury convicted TierOne Bank CEO Gil Lundstrom of fraud. He was sentenced to 11 years in prison. Evidence at trial showed that starting in 2002, CEO Lundstrom aggressively expanded bank lending from Nebraska to riskier commercial real estate in Las Vegas and other states, nearly doubling the bank’s loan book to $3.7 billion. Chief credit officer Don Langford, who has been sentenced to prison, testified this was “the very riskiest level of commercial real estate lending.” Many of the loans exceeded the loan-to-value ratio limitations and the bank did not adequately analyze the financial condition of borrowers. When the crisis unfolded, the value of the collateral securing these loans dropped significantly. Loans had no appraisals, unsupported appraisals, or stale appraisals. The bank’s President James Laphen, who has been sentenced to prison, testified at trial that he, Lundstrom and Langford agreed to delay ordering new appraisals to delay taking losses. CEO Lundstrom and his co-conspirators created a second set of books to conceal more than $100 million in losses from this risky lending, in what bank officers called “smoke and mirrors” and “hiding the ball.” They understated losses and used unrealistic loan collateral values to make it appear that the bank met required capital ratios. President Laphen testified that TierOne was “infinitesimally 7 8 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM close” to blowing its core capital ratio, which was at 8.51, just 0.01 over the regulator-required 8.5 ratio. • Bank of the Commonwealth: In May 2013, a jury convicted bank CEO and Chairman Edward Woodard, for a massive bank fraud that contributed to the failure of the bank. Woodard was sentenced to 23 years in prison along with two other bank officers. A total of 10 defendants were convicted in the case, 6 were sentenced to prison. This was the largest bank failure in Virginia since 2008. In announcing the indictment, U.S. Attorney Neil H. MacBride called the scheme “stunningly massive.” “The brazen greed and dishonesty of these four defendants toppled one of Virginia’s largest financial institutions and intensified the impact of the 2008 financial crisis on the public during the height of the fiscal storm,” said U.S. Attorney Neil H. MacBride. Starting in 2006, Woodard aggressively expanded the bank with the goal of becoming a billion dollar bank. The bank doubled its loan portfolio, ignoring industry standards and bank policies such as obtaining current financial statements from borrowers, current appraisals, current cash flow analysis, and not obtaining significant collateral. When this risk did not pay off, bank officials cooked the books to hide $800 million in past due loans. They overdrew checking accounts by $100,000 to make loan payments. They made new loans to straw borrowers knowing that the money was going to pay down delinquent borrowers’ loans. They made new loans for a purported new purpose when they knew the money was going to pay existing delinquent loans. They extended money for construction knowing it would be used to pay delinquent loans. They removed past due loans from reports. An additional 20 bankers investigated by SIGTARP have been charged with civil fraud. This includes, for example, the former CEO of Bank of America Ken Lewis & the former CFO of Bank of America Joe Price who were charged with civil violations following a SIGTARP investigation that uncovered misrepresentations by Bank of America about Merrill Lynch’s financial condition in order to get millions in additional TARP funding. It also includes Bank of America, its predecessors Countrywide Financial Corporation and Countrywide Home Loans, Inc., and a bank officer who a jury found guilty of fraud in a civil FIRREA case. The fraud involved using a program nicknamed the “HSSL or “the Hustle” that originated and generated for sale a high volume of mortgages at high speed by removing critical quality control checks. The court stated, “the essential crime found by the jury was a scheme to induce Fannie Mae and/or Freddie Mac to purchase mortgage loans originated through the High Speed Swim Lane by misrepresenting that the loans were of higher quality than they actually were.” SIGTARP’s exclusive mandate on financial institution crime means we can solely focus on holding bankers and others accountable for wrongdoing. Our focused mission allows us to devote all of our resources, without distraction, to help ensure justice and accountability for crimes that caused bank losses of millions of dollars, making these crimes extremely dangerous to banks and our financial system. SECT IO N 1 THE OFFICE OF THE SPECIAL INSPECTOR GENERAL FOR THE TROUBLED ASSET RELIEF PROGRAM 10 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 SIGTARP OVERSIGHT ACTIVITIES Created by Congress to protect taxpayers who funded the Troubled Asset Relief Program (“TARP”), SIGTARP is both a law enforcement agency with the authority to search, seize, and arrest, and an audit agency with the authority to conduct audits of TARP. SIGTARP’s audits recommend fixes to Treasury of vulnerabilities to fraud, waste, and abuse in TARP, and expose to the public and Treasury our insights into areas of TARP that need improvement. Congress aligned SIGTARP’s sunset to the length of time TARP funds or commitments are outstanding. Treasury’s extension of TARP’s housing program, HAMP, last year extends TARP commitments to 2023. Recoveries to the Government and Other Victims SIGTARP is ensuring that TARP crime does not pay by taking the profit out of crime. SIGTARP has escalated its efforts tenfold to recover funds lost to TARP crime or civil violations of the law, a crucial component of long-term recovery from the crisis. SIGTARP has already assisted in recovering $5.18 billion through its investigations, including $4.9 billion that has been paid back to the government and $231 million paid to other victims. FIGURE 1.1 RECOVERED FROM DEFENDANTS INVESTIGATED BY SIGTARP (CUMULATIVE) Asset Recovery (Millions) 6,000 $5.18B 5,000 4,000 3,000 $2.57B 2,000 $1.468B 1,000 0 $0 2009 +$151M $151M 2010 +$0 $151M 2011 +$10M $161M $186M +$25M 2012 +$1.283B 2013 +$1.1B 2014 +$2.61B 2015 Mar 2016 Fiscal Year These recoveries include $320 million paid by SunTrust after SIGTARP’s investigation found criminal material misrepresentations to homeowners seeking help through TARP’s housing program known as HAMP. SIGTARP anticipates even more financial recovery for the government and other victims. SIGTARP’s investigations have resulted in court orders and government agreements for a total of approximately $16.3 billion to be returned to the government or other victims. For example, SIGTARP’s investigation into Goldman Sachs’ and Morgan Stanley’s toxic subprime residential mortgage backed securities resulted in a $5.06 billion penalty to be paid by Goldman Sachs and a $2.6 billion penalty to be paid by Morgan Stanley. Both investigations uncovered that Goldman Sachs and Morgan Stanley mislead investors about the subprime 11 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM mortgage loans underlying the securities that they sold. In another example, SIGTARP’s investigation of Bank of America resulted in a jury verdict after trial, and a court order that the bank pay $1.27 billion, an order that the bank appealed. The court’s order stated, “the essential crime found by the jury was a scheme to induce Fannie Mae and/or Freddie Mac to purchase mortgage loans originated through the High Speed Swim Lane by misrepresenting that the loans were of higher quality than they were.” SIGTARP anticipates a decision on that appeal in 2016 and, if upheld, Bank of America will immediately owe that money to the government. Two other SIGTARP-investigated cases have resulted in not only lengthy prison sentences for a number of individuals in each case but also significant orders of forfeiture and restitution. In the Colonial Bank/Taylor, Bean & Whitaker Mortgage Corporation LLC (“TBW”) case, former TBW chairman Lee Bentley Farkas was convicted for spearheading a $2.9 billion fraud scheme that contributed to the failure of Colonial Bank, the sixth largest bank failure in U.S. history. The case resulted in prison sentences for eight people including Farkas, and also courtordered restitution of $3.5 billion and forfeiture of $38.5 million. In the Bank of the Commonwealth case (“BOC”), former chairman Edward J. Woodard was convicted for leading a $41 million bank fraud scheme that masked nonperforming assets at BOC and contributed to the failure of BOC in 2011. The case resulted in prison sentences for seven individuals including Woodard, courtordered restitution of $333 million, and a forfeiture order of $65 million against nine defendants, each responsible for at least a portion. FIGURE 1.2 SIGTARP’S ESCALATED EFFORTS INCREASED MONEY ORDERED/AGREED TO BE PAID (CUMULATIVE) 20,000 Asset Recovery (Millions) 12 $16.3B 15,000 10,000 $8.59B $7.38B 5,000 0 $11M +$153M $164M +$3.73B 2009 2010 +$261M 2011 $4.68B $4.15B $3.89B +$527M 2012 +$2.7B 2013 +$1.2B 2014 +$7.71B 2015 Mar 2016 Fiscal Year Having already assisted in the recovery of $5.18 billion of these funds, we will continue to find assets to pursue additional recoveries from the rest of the $16.3 billion. Property already seized or ordered to be forfeited includes dozens of vehicles, more than 30 properties (including businesses and waterfront homes), more than QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 40 bank accounts (including a bank account located in the Cayman Islands), bags of silver, U.S. currency, antique and collector coins (including gold, silver, and copper coins), artwork, antique furniture, Civil War memorabilia, NetSpend Visa and CashPass MasterCard debit cards, Western Union money orders with the “Pay To” line blank, and the entry of money judgments by courts against more than 40 defendants. Of the vehicles ordered to be forfeited (including automobiles, a tractor, water craft, recreational and commercial vehicles) several are antique and expensive cars, including a 1969 Shelby Mustang, a 1932 Ford Model A, a 1954 Cadillac Eldorado convertible, a 1963 Rolls Royce, and a 1965 Shelby Cobra. As part of the Bank of the Commonwealth case, Thomas Arney, who pleaded guilty for his role in the bank fraud scheme, agreed to forfeit the proceeds from the sale of two antique cars to the Government: a 1948 Pontiac Silver Streak and a 1957 Cadillac Coup de Ville. Figure 1.3 includes examples of some of the cars that have been ordered forfeited, as well as other examples of assets seized by the Government in SIGTARP investigations. FIGURE 1.3 ORDERED SEIZED 2005 54’ Hylas yacht “Swept Away” 1957 Cadillac Coupe de Ville. 1948 Pontiac Silver Streak. 2010 Mercedes-Benz GLK 350 4Matic. Estimated value in 2013: $29,000. (Source Kelley Blue Book) 13 14 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 2005 Hummer H2. Estimated value in 2013: $24,000. (Source Kelley Blue Book) Property located in Norfolk, Virginia. (Photo courtesy of Bill Tiernan, The Virginian-Pilot) 1958 Mercedes-Benz Cabriolet 220. Estimated value in 2013: $185,000. (Source Hagerty.com) Property located in Chesapeake, Virginia. (Photo courtesy of Bill Tiernan, The Virginian-Pilot) French-style gilt, bronze, and green malachite columnar 16-light torchères with bronze candelabra arms. Estimated appraised value: $8,000. 2005 Scout Dorado. (Sold for $1,800) Cash seized from safe, $158,000. Alabama property ordered forfeited. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 Kubota tractor. Artwork with a total value of $71,525, including paintings worth up to $10,000 each. 19th century English painting of “Royal Family,” oil on canvas. Estimated appraised value: $6,000. SIGTARP’s Investigative and Audit Work Results in Cost Savings to the Government SIGTARP’s investigation of Colonial Bank resulted in an immediate savings of $553 million in TARP funds that Treasury had already approved to invest in the bank. Based on SIGTARP’s communications with Treasury, Treasury stopped the TARP money just prior to disbursement. Colonial Bank did not receive the $553 million in TARP funds that Treasury approved, all of which would have been lost when the bank failed. SIGTARP’s audit and oversight work also has a net positive impact, though the calculation of that benefit is inherently imprecise and its impact is difficult to measure. If adopted, SIGTARP’s recommendations could ultimately result in savings for the taxpayer. Last quarter, SIGTARP issued an audit alert letter to Treasury that identified $246,490 in demolition costs that SIGTARP recommends Treasury recover. In 2011, SIGTARP issued an audit report questioning $7,980,215 in legal fees and expenses and recommending Treasury determine their allowability for possible recovery; SIGTARP also recommended that Treasury recover $91,482 in ineligible fees and expenses it paid to one firm. SIGTARP Investigations Oversight SIGTARP is a white-collar law enforcement agency. SIGTARP investigates criminal and civil violations of the law that the Department of Justice or others prosecute. 15 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM SIGTARP partners with other agencies in order to leverage resources. SIGTARP works hard to deliver the accountability the American people demand and deserve. More than 300 defendants investigated by SIGTARP have been charged with crimes, 241 of whom have already been convicted, and 147 have been sentenced to prison for their crimes. As of April 15, 2016: • More than 300 (343) defendants that SIGTARP investigated have been charged with TARP-related crimes—more than four times the number charged in the past three years. • More than 200 (241) defendants that SIGTARP investigated have been convicted of TARP related crimes—almost tripling the number convicted in the past three years. • More than 100 (147) defendants that SIGTARP investigated have been sentenced to prison for their crimes related to TARP. The number of defendants sentenced to prison more than quadrupling—from 35 to 147 defendants—in slightly more than three years. Sentencing follows years of SIGTARP’s investigations and criminal prosecution. SIGTARP expects that number to rise. There are 54 additional defendants that SIGTARP investigated who have already been convicted of their crimes and await sentencing by the court. FIGURE 1.4 CRIMINAL CONVICTIONS RESULTING FROM RAMP UP IN SIGTARP’S SUPPORT OF PROSECUTIONS (CUMULATIVE) 250 241 227 CONVICTIONS (INDIVIDUALS) 16 200 146 150 112 100 71 50 28 0 2 2009 +7 9 2010 +19 +43 2011 +41 2012 +34 2013 FISCAL YEAR +81 2014 +14 2015 Mar 2016 QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 1.5 INCREASE IN DEFENDANTS INVESTIGATED BY SIGTARP WHO WERE SENTENCED TO PRISON (CUMULATIVE) 150 147 141 120 90 87 65 60 35 30 0 19 1 2009 +2 3 2010 +16 +16 2011 +30 2012 +22 2013 +54 2014 +6 2015 Mar 2016 FISCAL YEAR Already, 241 defendants investigated by SIGTARP have been convicted of TARP-related crimes, and 147 have been sentenced to prison (some still await sentencing). These convictions and prison sentences are important measures of justice, accountability, and deterrence that SIGTARP has brought to protect taxpayers and leave the industry safer than we found it during the crisis. TARP bailout-related crime must be stopped. Every time. Without exception. Without regard to the TARP institution’s size. SIGTARP is the investigative agency who works with our prosecuting law enforcement partners, to bring cases of TARPrelated crime to satisfy four foundations of our justice system: 1. ccountability— No one is above the law. SIGTARP and our law enforcement A partners held every one of the 241 convicted defendants accountable for their crimes. In addition to the 147 of these convicted defendants who have already been sentenced to prison, 54 convicted defendants investigated by SIGTARP await sentencing. SIGTARP and our law enforcement partners will hold others accountable in the future. SIGTARP is conducting investigations that are not yet at the stage of criminal charges, and we continue to find crime and open new investigations. 2. aking the Profit Out of Crime— Crime must not pay. SIGTARP’s T investigations have already resulted in $5.18 billion in real dollars returned to the Government and other victims. SIGTARP works to increase that amount by assisting in recovering money from an additional $11.2 billion in court orders and Government agreements resulting from SIGTARP investigations that have not yet been recovered. 3. eterrence— Breaking the banking laws must not be tolerated. Crimes against D banks deserve significant general deterrence efforts. In some cases, the crime jeopardized the safety and soundness of a bank that applied for or received TARP. In other cases, the crime did not on its own jeopardize the safety and soundness of the bank, but multiple losses must be deterred to avoid creating a 17 18 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 1.6 CRIMINAL CHARGES FROM SIGTARP INVESTIGATIONS RESULTING IN PRISON SENTENCES 1% 3% 3% 4% 1% 7% 6% 34% 8% 12% 21% Wire & Mail Fraud Conspiracy to Commit Fraud Bank Fraud False Statements & Entries State Charges (Conspiracy to collect upfront fees/commit grand theft) Securities Fraud Money Laundering Loan Fraud Bankruptcy Fraud Tax Fraud Other Note: Numbers may not total due to rounding. risk to a bank’s safety and soundness. Putting a TARP bank’s assets at risk also puts Treasury’s TARP investment and FDIC-insured bank deposits at risk. 4. ustice and Crisis Recovery— Justice must be brought to victims hurt by these J crimes, such as communities, employees, homeowners, small businesses, the Government, and others. Additionally, those defendants willing to commit crime related to the bailout must be removed from the financial system that underpins the economy on which we all rely on so that they are never in a position again to put a bank or TARP program at risk. SIGTARP’s investigations concern a wide range of possible violations of the law, and result in charges including: bank fraud, conspiracy to commit fraud or to defraud the United States, wire fraud, mail fraud, making false statements to the Government (including to SIGTARP agents), securities fraud, money laundering, and bankruptcy fraud, among others.i These investigations have resulted in charges against defendants holding a variety of jobs, including 78 bank employees, and 87 mortgage modification scammers. 63% of those charged are senior officials. Figure 1.6 represents a breakdown of criminal charges from SIGTARP investigations resulting in prison sentences. Location of Criminal Prosecutions Arising Out of SIGTARP Investigations SIGTARP has found, investigated, and supported the prosecution of TARP-related crime throughout the nation. The 343 defendants investigated by SIGTARP were charged in courts in 30 states and Washington, DC, with victims in all 50 states and Washington, DC. Figure 1.7 shows locations where criminal charges were filed by Federal or State prosecutors as a result of SIGTARP investigations.ii i The prosecutors partnered with SIGTARP ultimately decided which criminal charges to bring resulting from SIGTARP’s investigations. ii The prosecutors partnered with SIGTARP ultimately decide the venue in which to bring criminal charges resulting from SIGTARP’s investigations. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 1.7 LOCATIONS WHERE CRIMINAL CHARGES WERE FILED AS A RESULT OF SIGTARP INVESTIGATIONS Tacoma Fargo Concord Boise Boston Hartford Brooklyn New Haven Madison White Plains Bridgeport New York Central Islip Rockford Chicago Newark Wheaton Philadelphia Omaha Columbus Wilmington Upper Marlboro Lincoln Peoria Washington, DC Denver Alexandria Kansas City (KS) Kansas City (MO) Norfolk Louisville East St. Louis Wichita Jefferson City St. Louis Buffalo Sacramento Salt Lake City Oakland San Francisco Fresno Las Vegas Knoxville Nashville Los Angeles Santa Ana Riverside San Diego Little Rock Rome Birmingham San Antonio Gainesville Atlanta Macon Valdosta Pensacola New Orleans Orlando Fort Myers Northern District of Alabama Birmingham Eastern District of Arkansas Little Rock Central District of California Los Angeles Riverside Santa Ana Eastern District of California Fresno Sacramento Northern District of California Oakland San Francisco Southern District of California San Diego Superior Court of California Sacramento Santa Ana Orange County District Attorney Santa Ana District of Colorado Denver District of Connecticut Bridgeport Hartford New Haven District of Delaware Wilmington District of Columbia Washington, DC Middle District of Florida Fort Myers Orlando Northern District of Florida Pensacola Middle District of Georgia Macon Valdosta Note: Italics denote state cases. Northern District of Georgia Atlanta Gainesville Rome District of Idaho Boise Circuit Court of Cook County, Illinois Chicago Circuit Court of DuPage County, Illinois Wheaton Central District of Illinois Peoria Northern District of Illinois Chicago Rockford Southern District of Illinois East St. Louis District of Kansas Kansas City Wichita Western District of Kentucky Louisville Eastern District of Louisiana New Orleans Prince George’s District Court Upper Marlboro District of Massachusetts Boston Eastern District of Missouri St. Louis Western District of Missouri Jefferson City Kansas City District of Nebraska Lincoln Omaha District of Nevada Las Vegas District Court of Clark County, Nevada Las Vegas District of New Hampshire Concord District of New Jersey Newark Eastern District of New York Brooklyn Central Islip Southern District of New York New York White Plains Western District of New York Buffalo District of North Dakota Fargo Southern District of Ohio Columbus Eastern District of Pennsylvania Philadelphia Eastern District of Tennessee Knoxville Middle District of Tennessee Nashville Western District of Texas San Antonio District of Utah Salt Lake City Eastern District of Virginia Alexandria Norfolk Western District of Washington Tacoma Western District of Wisconsin Madison 19 20 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Prison Sentences Resulting From SIGTARP Criminal Investigations As a result of a SIGTARP investigation, already 147 defendants have been sentenced to prison. The average prison sentence imposed by courts for crime investigated by SIGTARP is 59 months, which is nearly double the national average length of prison sentences involving white collar fraud of 36 months.iii On average, as a result of SIGTARP investigations, criminals convicted of crimes related to banking have been sentenced to serve 62 months in prison. Criminals convicted for mortgage modification fraud schemes or other mortgage fraud related investigations by SIGTARP were sentenced to serve an average of 58 months in prison. Criminals investigated by SIGTARP and convicted of investment schemes such as Ponzi schemes and sales of fake TARP-backed securities were sentenced to serve an average of 44 months in prison. Figure 1.8 shows the people sentenced to prison, the sentences they received, and their affiliations. iii See the U.S. Sentencing Commission’s 2013 Sourcebook of Federal Sentencing Statistics for additional information. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 1.8 INDIVIDUALS SENTENCED TO PRISON Lee Bentley Farkas 360 months 3 years supervised release Chairman Taylor, Bean & Whitaker Alan Tikal 288 months 5 years supervised release Principal KATN Trust Edward Woodard 276 months 5 years supervised release President & CEO Bank of the Commonwealth Christopher George 240 months 5 years supervised release Co-Owner 21st Century Legal Services Andrea Ramirez 216 months 3 years supervised release Co-Owner 21st Century Legal Services Stephen Fields 204 months 5 years supervised release Executive Vice President Bank of the Commonwealth David McMaster 188 months 5 years supervised release Vice President American Mortgage Specialists, Inc. Mark Anthony McBride [deceased] 170 months 5 years supervised release Delroy Davy 168 months 5 years supervised release George Hranowskyj 168 months 3 years supervised release Owner/Operator 345 Granby, LLC Joshua Sanchez 151 months 3 years supervised release Sales Representative Equity Restoration Group Mark A. Conner 144 months 5 years supervised release President FirstCity Bank Wilbur Anthony Huff 144 months 4 years supervised release Owner Oxygen Entities Jonathan L. Herbert 140 months 5 years supervised release Owner Federal Dept Commission Eric Menden 138 months 3 years supervised release Owner/Operator 345 Granby, LLC Kristen Ayala 135 months 3 years supervised release Sales Representative Equity Restoration Group Glen Alan Ward 132 months 3 years supervised release Partner Timelender Mark Farhood 132 months 3 years supervised release Owner Home Advocate Trustees Robert Egan 132 months 3 years supervised release President Mount Vernon Money Center Gilbert Lundstrom 132 months 2 years supervised release CEO/Chairman, Board of Directors TierOne Bank Gordon Grigg 120 months 3 years supervised release Financial Advisor and Owner ProTrust Management, Inc. John Farahi 120 months 3 years supervised release Investment Fund Manager and Operator New Point Financial Services, Inc. Shawn Portmann 120 months 5 years supervised release Senior Vice President Pierce Commercial Bank Isaak Khafizov 108 months 3 years supervised release Principal American Home Recovery Ebrahim Shabudin 97 months 3 years supervised release Vice President United Commercial Bank (UCBH) Catherine Kissick 96 months 3 years supervised release Senior Vice President Colonial Bank Robin Bruhjell Brass 96 months 3 years supervised release Owner/Operator BBR Group, LLC Scott Powers 96 months 5 years supervised release CEO American Mortgage Specialists, Inc. Troy Brandon Woodard 96 months 5 years supervised release Vice President Bank of the Commonwealth Subsidiary Howard Shmuckler 90 months 3 years supervised release Owner/Operator The Shmuckler Group, LLC Clayton A. Coe 87 months 5 years supervised release Vice President/ Senior Commercial Loan Officer FirstCity Bank Christopher Godfrey 84 months 3 years supervised release President H.O.P.E. David Tamman 84 months 3 years supervised release Attorney Nixon Peabody LLP Dennis Fischer 84 months 3 years supervised release Vice President H.O.P.E. Gary Patton Hall 84 months 3 years supervised release President/CEO Tifton Banking Company 21 22 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Lawrence Allen Wright 75 months 5 years supervised release Owner Wright & Associates Desiree Brown 72 months 3 years supervised release Treasurer Taylor, Bean & Whitaker Jason Sant 72 months 2 years supervised release Co-owner Home Advocate Trustees Jerry J. Williams 72 months 3 years supervised release President, CEO, and Chairman Orion Bank Lori Macakanja 72 months 3 years supervised release Housing Counselor HomeFront, Inc. (a HUD-approved company) Michael Lewis Parker 72 months 3 years supervised release Sales Representative 21st Century Legal Services Edward Shannon Polen 71 months 5 years supervised release Owner Polen Lawn Care and Maintenance/F&M Adam Teague 70 months 5 years supervised release Vice President Appalachian Community Bank Najia Jalan 70 months 3 years supervised release Owner United National Mortgage Protection Francesco Mileto 65 months 5 years supervised release Glenn Steven Rosofsky [deceased] 63 months 3 years supervised release Owner Federal Housing Modification Department Xue Heu 63 months 3 years supervised release Owner Liquid Assets & Land Investments Inc. and Capital Land Investments LLC Frederic Gladle 61 months 3 years supervised release Operator Timelender Albert DiRoberto 60 months 5 years supervised release Sales/Marketing 21st Century Legal Services Bernard McGarry 60 months 3 years supervised release Chief Operatiing Officer Mount Vernon Money Center Crystal Taiwana Buck 60 months 5 years supervised release Sales Closer 21st Century Legal Services Delton de Armas 60 months 3 years supervised release CFO Taylor, Bean & Whitaker Jeffrey Levine 60 months 5 years supervised release Executive Vice President Omni National Bank Ray Kornfeld 60 months 3 years supervised release Employee KATN Trust Richard Pinto [deceased] 60 months 5 years supervised release Chairman Oxford Collection Agency William Cody 60 months 5 years supervised release Owner/Operator C&C Holdings, LLC Steven Pitchersky 51 months 5 years supervised release Owner/Operator Nationwide Mortgage Concepts Dwight Etheridge 50 months 5 years supervised release President Tivest Development & Construction, LLC Michael Edward Filmore 48 months 3 years supervised release Straw Borrower Peter Pinto 48 months 3 years supervised release President/COO Oxford Collection Agency Winston Shillingford 48 months 3 years supervised release Co-owner Waikele Properties Corp. Iris Pelayo 48 months 3 years supervised release Manager 21st Century Legal Services Yadira Garcia Padilla 48 months 5 years supervised release Client Complaints 21st Century Legal Services Julius Blackwelder 46 months 3 years supervised release Manager Friends Investment Group Leonard G. Potillo 46 months 3 years supervised release Manager/Owner United Credit Recovery, LLC Tamara Teresa Tikal 45 months 3 years supervised release Co-owner/Manager KATN Trust William R. Beamon, Jr. 42 months 5 years supervised release Vice President Appalachian Community Bank Paul Allen 40 months 2 years supervised release CEO Taylor, Bean & Whitaker Brent Merriell 39 months 5 years supervised release Robert E. Maloney, Jr. 39 months 3 years supervised release In-house Counsel FirstCity Bank Leigh Farrington Fiske 37 months 3 years supervised release External Owner Salvador Management, LLC dba Corporate Funding Solutions S.A. Selim Zherka 37 months 3 years supervised release Businessman Brian Headle 36 months 4 years supervised release Borrower Colorado East Bank and Trust Cheri Fu 36 months 5 years supervised release Owner/President Galleria USA, Inc. Christopher Tumbaga 36 months 4 years supervised release Loan Officer Colorado East Bank and Trust Delio Coutinho 36 months 3 years supervised release Loan Officer [Mortgage Company Name Withheld] Marleen Shillingford 36 months 3 years supervised release Co-owner Waikele Properties Corp. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 James A. Laphen 34 months 2 years supervised release President/COO TierOne Bank Roger Jones 33 months 3 years supervised release Federal Housing Modification Department Charles Antonucci 30 months 2 years supervised release CEO Park Avenue Bank Michael Trap 30 months 3 years supervised release Owner Federal Housing Modification Department Raymond Bowman 30 months 2 years supervised release President Taylor, Bean & Whitaker Thomas Hebble 30 months 3 years supervised release Executive Vice President Orion Bank Catalina Deleon 30 months 3 years supervised release Manager 21st Century Legal Services Jeffrey Bell 30 months 3 years supervised release President Stearns Bank Carmine Fusco 27 months 3 years supervised release Outside Appraiser Blue and White Management, Ameridream Marvin Solis 27 months 3 years supervised release Owner Hawk Ridge Investments, LLC Tommy Arney 27 months 3 years supervised release Owner Residential Development Company Angel Guerzon 24 months 3 years supervised release Senior Vice President Orion Bank Clint Dukes 24 months 5 years supervised release Owner Dukes Auto Collision Repair James Ladio 24 months 3 years supervised release President/CEO MidCoast Community Bank, Inc. Joseph D. Wheliss, Jr. 24 months 5 years supervised release Owner/Operator National Embroidery Works Inc Kenneth Sweetman 24 months 3 years supervised release Blue and White Management, Ameridream Reginald Harper 24 months 3 years supervised release President and CEO First Community Bank Alan Reichman 21 months 2 years supervised release Executive Director Of Investments Unspecified Investment Firm Karim Lawrence 21 months 5 years supervised release Officer Omni National Bank Michael Ramdat 21 months 3 years supervised release Steven J. Moorhouse 21 months 3 years supervised release Owner/President Jefsco Manufacturing Co., Inc. Thomas Fu 21 months 5 years supervised release Owner/CFO Galleria USA, Inc. Ziad Nabil Mohammed Al Saffar 21 months 3 years supervised release Operator Compliance Audit Solutions, Inc. Don A. Langford 21 months 2 years supervised release Sr. VP/Chief Credit Officer TierOne Bank Abraham Kirschenbaum 18 months 2 years supervised release Christopher Woods 18 months 3 years supervised release Owner Blue and White Management, Ameridream Grady Fricks 18 months 5 years supervised release Borrower Gateway Bancshares Mark Steven Thompson 18 months 3 years supervised release Partner Greenfield Advisors, LLC; Escrow Professionals, Inc. Matthew Amento 18 months 3 years supervised release Owner Blue and White Management, Ameridream Robert Ilunga 18 months 3 years supervised release Manager Waikele Properties Corp. Robert Wertheim 18 months 2 years supervised release Co-Owner Premium Finance Group Troy A. Fouquet 18 months 3 years supervised release Owner Team Management, LLC TRISA, LLC Walter Bruce Harrell 18 months 3 years supervised release Mindy Holt 18 months 2 years supervised release 21st Century Legal Services Poppi Metaxas 18 months 3 years supervised release President & CEO Gateway Bank FSB Thomas Dickey Price 18 months 2 years supervised release Employee Escrow Professionals, Inc. Andrew M. Phalen 12 months 5 years probation Operator CSFA Home Solutions Chester Peggese 12 months 5 years supervised release Loan Consultant Brian M. Kelly 12 months 3 years supervised release Employee H.O.P.E. Carlos Peralta 12 months 3 years supervised release Duy Nguyen 12 months 5 years probation Owner HAMP Resources Gregory Flahive 12 months 3 years probation Owner/Attorney Flahive Law Corporation 23 24 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Lynn Nunes 12 months 5 years supervised release Owner Network Funding Matthew L. Morris 12 months 2 years supervised release Senior Vice President Park Avenue Bank Sara Beth Bushore Rosengrant 12 months 3 years supervised release Operator Compliance Audit Solutions, Inc. Vernell Burris 12 months 2 years supervised release Employee H.O.P.E. Salvatore Leone 12 months 3 years supervised release External Owner Wilmington Trust Corp Anthony Blackwell 12 months 3 years supervised release Employee Homesafe America, Inc. Michael Bates 12 months 3 years supervised release Employee 21st Century Legal Services Alberto Solaroli 12 months 2 years supervised release Borrower Christopher Ju 10 months 2 years probation Justin D. Koelle 9 months 5 years probation CEO CSFA Home Solutions Carla Lee Miller 8 months 3 years supervised release Employee Escrow Professionals, Inc. Jacob J. Cunningham 8 months 5 years probation CEO CSFA Home Solutions John D. Silva 8 months 5 years probation Senior Official CSFA Home Solutions Jeanette R. Salsi 7 months 3 years supervised release Senior Underwriter Pierce Commercial Bank Brian W. Harrison 6 months 6 months home detention Vice President/Loan Officer Farmer’s Bank and Trust Daniel Al Saffar 6 months 3 years supervised release Sales Representative Compliance Audit Solutions, Inc. Dominic A. Nolan 6 months 5 years probation Owner CSFA Home Solutions Phillip Alan Owen 6 months 5 years supervised release Branch Manager Superior Financial Services, LLC Eduardo Garcia Sabag 3 months Deported Sean Ragland 3 months 3 years supervised release Senior Financial Analyst Taylor, Bean & Whitaker Teresa Kelly 3 months 3 years supervised release Operations Supervisor Colonial Bank Candice White 3 months 5 years supervised release Senior Vice President Front Range Bank Hamid Reza Shalviri 3 months 3 years supervised release Employee 21st Century Legal Services Alice Lorrraine Barney 2 months 3 years supervised release Marketing & Administrative Assistant Pierce Commercial Bank Sonja Lightfoot 1 month 3 years supervised release Senior Vice President Pierce Commercial Bank Mark W. Shoemaker 1 day (with credit for time served) 5 years supervised release Michael Bradley Bowen 1 day (with credit for time served) 5 years supervised release Yazmin Soto-Cruz 1 day 3 years supervised release Co-owner New Jersey Property Management QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 TARP-Related Investigations Activity Since the January 2016 Quarterly Report Each quarter SIGTARP investigations result in a number of charges, convictions, and prison sentences as set forth in Figures 1.4-1.5. The following summaries highlight some of the more impactful developments from the quarter focusing on SIGTARP’s investigations and enforcement against TARP banks and bankers, as well as against executives and borrowers for defrauding TARP banks, and against perpetrators seeking to defraud homeowners and others by pretending to be, or be affiliated with, official TARP housing assistance or other programs. Investigations and Enforcement Investigations and Enforcement Against TARP Banks and Bankers Former TARP Bank CEO Sentenced to 84 Months in Federal Prison and $3.9 Million Restitution for Hiding Past Due Loans from Regulators, Shareholders On February 25, 2016, Gary Patton Hall Jr., the former President and CEO of TARP recipient, Tifton Banking Company (“TBC”) was sentenced in the United States District Court for the Middle District of Georgia to 84 months in prison having pleaded guilty in December 2015 to conspiracy to commit bank fraud and conspiracy to commit fraud against the United States. Hall was also ordered to pay restitution of $3,931,018. Between 2005 and 2010, Hall engaged in a scheme to cover up past due loans to mask the bank’s poor financial condition from the FDIC and the bank’s loan committee, eventually resulting in millions of dollars of losses to the bank and others. Hall also concealed his personal and business interest in loans as to which he exercised approval authority, including funding an unsecured loan to a borrower who purchased Hall’s condominium in Panama City, Florida, and who later declared bankruptcy, resulting in a loss of more than $400,000 to TBC. In 2009 TBC obtained $3.8 million in TARP funds, all of which was lost (together with over $50 thousand in missed dividends) when the bank failed in 2010. The case was investigated by SIGTARP, the FBI, the SBA’s Office of the Inspector General, the FDIC-OIG, the Department of Agriculture-OIG and the Tift County Sheriff’s Office and was prosecuted by the DOJ Criminal Division’s Fraud Section and the United States Attorney’s Office for the Middle District of Georgia. Eleven Bank Officers and Directors at $69 Million TARP Recipient, Superior Bancorp, Inc., Charged Civilly with Defrauding Shareholders On January 13, 2016, eleven former high-ranking executives and board members at TARP recipient, Superior Bancorp, Inc., were charged by the SEC with defrauding shareholders in connection with various schemes to conceal the extent of loan losses as the bank was faltering in the wake of the financial crisis. As alleged in the civil complaint, the high-ranking officers and directors schemed to mislead investors and bank regulators by propping up Superior Bank’s financial 25 26 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM condition through straw borrowers, bogus appraisals, and insider deals. Further, the defendants extended, renewed, and rolled over bad loans to avoid the need to report ever-increasing losses in the bank’s financial accounting. As a result, Superior Bank, the banking subsidiary, overstated its net income in public filings by approximately 99 percent for 2009 and 50 percent for 2010. Superior Bank ultimately failed in April 2011 resulting in the loss of the entire TARP investment of $69 million together with $ 2,587,500 in missed dividends. At the time, the FDIC, which was appointed as the bank’s receiver, estimated a $259.6 million loss. The defendants include: Kenneth D. Pomeroy, who was president of Superior Bank’s central Florida region, and William C. McKinnon, who was a senior vice president and commercial loan officer. The remaining nine defendants, including former senior bank officials from both the bank holding company and Superior Bank, have settled the SEC’s charges and agreed to a lifetime ban from serving as public company directors and officers; and six also agreed to civil monetary penalties. The case was investigated by the SEC with assistance from SIGTARP, FBI, OCC, FDIC, FHFA-OIG, and the U.S. Attorney’s Office for the Northern District of Alabama. Former Beverly Hills Bank Exec Charged in Loan Fraud that Resulted in $33 Million in Losses and Contributed to Bank Failure On January 13, 2016, Ataollah “John” Aminpour, a former bank executive from Beverly Hills, California, was indicted in the United States Court for the Central District of California following his arrest in connection with a $150 million loan fraud scheme that contributed to the failure of Mirae Bank and caused $33 million in losses to TARP recipient, Wilshire Bank, which acquired Mirae. SIGTARP’s investigation, conducted together with the U.S. Attorney’s Office for the Central District of California, FDIC-OIG, and FHFA-OIG revealed that, from 2005 through 2009, Aminpour, the former chief marketing officer of Mirae Bank, allegedly created $150 million in inflated loans to gas stations and car washes, skimmed money off the top, and generated over a million dollars in commissions. Aminpour concealed the true loan amounts from the bank, arranged for fake down payments and encouraged some borrowers to stop making payments so he could purchase those distressed loans at a discount. Prior to its acquisition of Mirae in 2009, Wilshire received $62 million in TARP funds which was sold at a loss of more than $3.5 million in 2012. Three More Charged in Money Laundering Schemes In conjunction with SIGTARP’s investigation of TARP recipient Saigon National Bank, on January 13, 2016 and March 18, 2016, three additional defendants (Sheng Lee and Hua Leung in January and Diana Nguyen in March) were charged in a series of money laundering schemes related to (as previously reported) the December 10, 2015, indictment of 20 defendants (15 of whom were arrested by SIGTARP agents, alongside other federal law enforcement authorities) in Operation “Phantom Bank,” a series of money laundering schemes that involved allegations of narcotics trafficking and international money laundering; including QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 through TARP recipient, Saigon National Bank. Saigon National Bank is one of only twelve TARP-recipient banks to reject the U.S. Treasury Department’s requests to send an observer to the institution’s board meetings, and it has missed 28 consecutive TARP dividend payments totaling more than $690,183 and, as of March 31, 2016, owed Treasury $1,549,000 in outstanding principal. SIGTARP is conducting the investigation together with the FBI, and IRS-CI and the case is being prosecuted by the United States Attorney’s Office for the Central District of California. Former Senior Vice President at TARP Recipient Bank Pleads Guilty to Making False Statements to a Financial Institution On March 22, 2016, Robert Pennington, a Vice President at Citizens First National Bank (“Citizens”), subsidiary of TARP recipient, Princeton National Bancorp, both of Princeton, Illinois, pleaded guilty in the United States District Court for the Central District of Illinois to making a false statement to a financial institution. Specifically, Pennington engaged in a years’-long campaign to conceal that he had borrowed more than $200,000 from bank customers while falsely reporting on the bank’s annual conflicts of interest certifications from 2006 through 2011 that he was not indebted to any bank customer. Pennington also lied on an application for a personal loan from Citizens by failing to disclose that he had personal debts of at least $50,000. In January 2009, Princeton National, received $25,083,000 in TARP funds, all of which was lost together with $2,194,763, in seven missed dividends when Citizens failed on November 2, 2012. SIGTARP investigated the case together with the United States Attorney’s Office for the Central District of Illinois, the FBI and FDIC-OIG. TARP Recipient Bank Required to Pay More than $47 Million for False Claims Act Violations On January 8, 2016, the United States District Court for the District of Columbia entered a $47,905,000 default judgment against TARP recipient, One Financial Corporation (“One Financial”) and its subsidiary, One Bank & Trust, N.A. (“One Bank”), both based in Little Rock, Arkansas, in connection with a False Claims Act suit alleging that the late Layton P. Stuart, former owner and president of One Financial, obtained $17.3 million in TARP funds under false pretenses and used them for improper purposes. SIGTARP’s investigation, worked together with the United States Attorney’s Office for the Eastern District of Arkansas, the DOJ Civil Division, and the IRS-CI, uncovered (and the False Claims Act suit alleged) that, in applying for TARP in 2009, Stuart made false statements about One Financial and One Bank’s financial condition and the intended use of the TARP funds. Particularly, Stuart concealed ongoing multiple frauds he and other One Financial directors and One Bank executives had and were committing involving Stuart’s diversion of One Bank funds for his personal use, including the purchase of luxury vehicles for his wife and children. Within two weeks of receiving TARP funds, Stuart also allegedly diverted $2.185 million into his personal accounts. Separate criminal actions against former bank executives, who are alleged to have conspired 27 28 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM with Stuart, remain pending and Stuart’s estate agreed to resolve the False Claims Act suit for $4 million in September 2015. First TARP Recipient Institution Indicted for Hiding Past Due Loans, Making False Statements in Securities Filings and to Regulators On January 6, 2016, in the United States District Court for the District of Delaware, TARP recipient Wilmington Trust Corporation (“WTC”) was indicted in connection with its role in concealing from the Federal Reserve, the Securities and Exchange Commission (SEC) and the investing public the total quantity of past due loans on its books from October 2009 through November 2010. The indictment of the bank follows the indictments of four of its senior executives in 2015, Chief Financial Officer, David Gibson; President, Robert V.A. Harra; Chief Credit Officer, William North; and Controller, Kevyn Rakowski. According to the indictment, Wilmington Trust was required to report in its quarterly filings with both the SEC and the Federal Reserve the quantity of its loans for which payment was past due for 90 days or more. Investors and banking regulators consider the amount of past due loans at a bank as an important metric in evaluating the health of a bank’s loan portfolio. Wilmington Trust, through the actions of defendants Gibson, Harra, North and Rakowski, however, concealed the truth about the health of its loan portfolio from the SEC, the investing public and from Wilmington Trust’s regulators. During the course of the alleged conspiracy, in February 2010, Wilmington Trust raised approximately $273.9 million through a public stock offering. Wilmington Trust received $330 million in TARP funds and is the first TARP recipient institution to be indicted. This case is being investigated by SIGTARP, the U.S. Attorney’s Office for the District of Delaware the FBI, IRSCI, and FRB-OIG. Former CEO of $3 Billion TierOne Bank Sentenced to 11 Years in Prison for Orchestrating Scheme to Hide More than $100 Million in Losses from Shareholders and Regulators - Bank Applied for $86 Million from TARP Before Collapsing On March 23, 2016, Gilbert G. Lundstrom, the former CEO of TierOne Bank, a—now failed—$3 billion publicly-traded commercial bank, was sentenced to 132 months in prison and ordered to pay a $1.2 million fine following his conviction after a jury trial for orchestrating a scheme to defraud TierOne’s shareholders and misleading regulators by concealing more than $100 million in losses. Additionally, on March 25, 2016, James Laphen, TierOne’s former President and Chief Operating Officer, and Don Langford, TierOne’s former Chief Credit Officer were sentenced to 34 months and 21 months, respectively, after pleading guilty in 2014, for their roles in the scheme. Laphen was also fined $200,000. According to the trial evidence, Lundstrom designed an aggressive strategy to expand TierOne’s portfolio beyond traditional lending in Nebraska to riskier areas, including commercial real estate in Las Vegas, which decimated the bank once the financial crisis hit. Lundstrom then covered up what he referred to as the bank’s “death spiral” due to these bad loans, in a conspiracy which included applying QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 for $86 million in TARP with false bank books because, as Lundstrom wrote, the bank would be “dead without TARP.” Lundstrom presented one picture of the bank’s health to regulators and for the TARP application, when executives had, in actuality, tallied $60 million to $70 million in hidden loan losses written on a napkin. Additionally, Lundstrom lied to shareholders saying that the bank decided against applying for TARP, when, in reality, Lundstrom knew the bank’s regulator did not support the TARP application. In June 2010, following TierOne’s ultimate disclosure of $120 million in loan losses and its subsequent delisting from the NASDAQ exchange, TierOne was shut down by the FDIC. The FDIC estimated its loss at $298 million. At the time of the closure, TierOne had more than 750 employees working at its headquarters in Lincoln and its 69 branch offices located in Nebraska, Iowa and Kansas. SIGTARP and the FBI investigated the case, which was prosecuted by the DOJ Criminal Division’s, Fraud Section. Banker and Real Estate Developer Indicted on Bank Fraud Charges – Excel Bank Failed to Repay Nearly $5 Million in TARP Funds On April 13, 2016, Shaun Hayes and Michael Litz were indicted by a federal grand jury on bank fraud charges relating to Excel Bank, which was closed by regulators in 2012. Excel Bank received $4 million in TARP funds and failed to pay 11 dividends, causing a loss of nearly $5 million to taxpayers when the bank failed. Around 2009, Hayes was the majority shareholder of Excel Bank’s holding company. Litz was an owner of two major real estate businesses, Eighteen Investments and Bellington Realty. Hayes and Litz were co-owners of McKnight Man I LLC through which they were attempting to develop property. Both Eighteen Investments and the McKnight Man were delinquent on loans at Centrue Bank which, in June, 2009, sued Eighteen Investments and Litz and threatened to sue Hayes and Litz, as guarantors on a delinquent loan. The delinquent loans totaled over $4 million. Around that time, through Hayes’ efforts, Excel Bank opened up a loan production office, which Hayes controlled. The indictment alleges that Hayes used his status as an insider at Excel Bank to cause Excel Bank to buy the pool of delinquent Eighteen Investments from loans from Centrue Bank at a discount. The indictment further alleges that Hayes and Litz caused Excel Bank to loan $3.3 million to a straw borrower who then used those funds to pay off the Eighteen Investments’ pool of loans purchased by Excel Bank and the remaining McKnight Man loan at Centrue Bank. These actions were hidden from the bank’s board of directors and officials as well as federal and state bank regulators. This case is being investigated by SIGTARP, the FBI, FHFA-OIG and the FDCI-OIG. Assistant United States Attorneys James E. Crowe, Jr., Reginald L. Harris and Gilbert C. Sison are handling the case for the U.S. Attorney’s Office. 29 30 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Investigations into Conduct in the Mortgage-Backed Securities Market Morgan Stanley Agrees to $2.6 Billion Penalty in Connection with Its Sale of Residential Mortgage Backed Securities as a Precursor to Financial Crisis On February 11, 2016, TARP recipient, Morgan Stanley, agreed to pay a $2.6 billion penalty to resolve claims related to its marketing, sale and issuance of residential mortgage-backed securities (“RMBS”) as a precursor to the financial crisis. As part of the agreement, Morgan Stanley admitted its failure to disclose critical information to prospective investors about the quality of the mortgage loans underlying its RMBS, and about its due diligence practices. Investors, including federally insured financial institutions, suffered billions of dollars in losses from investing in RMBS issued by Morgan Stanley in 2006 and 2007. In October 2008, Morgan Stanley received $10 billion in TARP funds knowing it had misled investors and knowing that its toxic subprime mortgage securities caused billions of dollars in losses. The case was investigated by SIGTARP, the DOJ Civil Division’s Commercial Litigation Branch, the United States Attorney’s Office for the Northern District of California and FHFA-OIG. Goldman Sachs Agrees to Pay More than $5 Billion in Connection with Its Sale of Residential Mortgage Backed Securities—Bank Received $10 Billion from TARP On April 11, 2016, Goldman Sachs agreed to pay $5.06 billion as part of a settlement related to Goldman Sachs’ conduct in the packaging, securitization, marketing, sale and issuance of RMBS between 2005 and 2007. The settlement requires Goldman Sachs to pay $2.385 billion in a civil penalty under the Financial Institutions Reform, Recovery and Enforcement Act (“FIRREA”) and also requires the bank to provide $1.8 billion in other relief, including relief to underwater homeowners, distressed borrowers and affected communities, in the form of loan forgiveness and financing for affordable housing. Goldman Sachs will also pay $875 million to resolve claims by other federal entities and state claims. Investors, including federally-insured financial institutions, suffered billions of dollars in losses from investing in RMBS issued and underwritten by Goldman Sachs between 2005 and 2007. The settlement is part of the ongoing efforts of President Obama’s Financial Fraud Enforcement Task Force’s RMBS Working Group, which has recovered tens of billions of dollars on behalf of American consumers and investors for claims against large financial institutions arising from misconduct related to the financial crisis. The RMBS Working Group brings together attorneys, investigators, analysts and staff from multiple state and federal agencies, including SIGTARP, the Department of Justice, U.S. Attorneys’ Offices, the FBI, the U.S. Securities and Exchange Commission (“SEC”), the Department of Housing and Urban Development (“HUD”), HUD’s Office of Inspector General, the FHFA-OIG, the Federal Reserve Board’s OIG, the Recovery Accountability and Transparency Board, the Financial Crimes Enforcement Network and multiple state Attorneys General offices around the country. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 Investigations and Enforcement Against Executives and Borrowers for Using or Defrauding TARP Banks Recruiter in Multi-Million Dollar Mortgage Fraud Scheme Sentenced to Prison — TARP Recipient Bank Used in Scheme On February 23, 2016, following his November 2015 guilty plea, Chester Peggese, was sentenced to one year and one day in prison for his role in a mortgage fraud scheme in which he paid kickbacks to Paul Ryan, a loan officer of TARP recipient, Broadway Federal Bank (“Broadway Federal”) to process loan applications of various Los Angeles-area churches. Broadway Federal received a total of $15 million in TARP funds, Ryan pleaded guilty in July 2014 to bank bribery. SIGTARP’s investigation, was conducted with the United States Attorney’s Office for the Central District of California, IRS-CI, FDIC OIG and FBI. Owner of Debt Collection Agency Sentenced for Bribing Official at TARP Recipient Bank On January 8, 2016, Leonard G. Potillo, III, was sentenced to 46 months in prison after pleading guilty to making more than 60 payments totaling approximately $1,067,000 in bribes to an official at TARP recipient, US Bank, as well as tax evasion in connection with a scheme to buy debt portfolios from banks, including TARP recipient banks, falsify the quality of the debt and then flip the debt to other collection agencies. SIGTARP investigated this case together with the IRS-CI and USSS and it is being prosecuted by the United States Attorney’s Office for the Middle District of Florida. California Wholesale Executive Pleads Guilty for Role in $9 Million Bank Fraud Scheme — TARP Bank Victimized On March 30, 2016, Chung Yu Yeung, a vice president of a wholesale equipment company pleaded guilty to a bank fraud scheme in connection with an elaborate web of lies with multiple shell companies and cooked financial statements to defraud TARP recipients East West Bank and the now failed UCB. Yeung lied about accounts receivable and inventory to secure an $11 million line of credit, resulting in losses to East West Bank of more than $9 million. East West Bank received over $306 million in TARP funds and UCBH, the parent company of UCB, received $298.7 million in TARP funds prior to its failure in 2009 - less than one year after receiving TARP funds. When UCBH failed the entire TARP investment of $298.7 million and $3.7 million dividends were lost. SIGTARP, IRS-CI and the FBI investigated the case and it is being prosecuted by the DOJ Criminal Division’s Fraud Section. Delaware Real Estate Developer Pleads Guilty to Bank Fraud and Environmental Violation — Fraudulent Loans from TARP Bank Resourced Personal Projects On March 28, 2016, Joseph L. Capano pleaded guilty to one count of bank fraud and one count of knowingly violating the Clean Water Act for having submitted false funding requests during construction of a real estate development partially 31 32 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM funded by a $1.5 million loan from TARP recipient, Cecil Bank. Instead of using funds for the construction development, Capano pocketed more than $146,000 for his personal use, including around $63,000 for a jewelry purchase. Capano further discharged pollutants into wetlands without a permit during the development and directed employees and contractors perform other wetlands’-prohibited practices. Cecil Bancorp, Inc., of Elkton, MD., the parent company of Cecil Bank, received $11.56 million in TARP funds in December 2008, of which approximately $11 million remains outstanding together with twenty-four missed dividend payments totaling $4,277,200. This case was investigated by SIGTARP together with the United States Attorney’s Office for the District of Delaware, FBI, and EPA-CID. Borrower Sentenced to Prison for Defrauding TARP Recipient Bank On March 2, 2016, Alberto Solaroli was sentenced to one year and one day in prison and required to pay $120,000 in restitution after pleading guilty to money laundering relating to a $1.5 million loan he received from One Bank & Trust, a subsidiary of TARP recipient, One Financial Corporation. SIGTARP investigated this case together with IRS-CI, FBI and the United States Attorney’s Office for the Eastern District of Arkansas. Investigations and Enforcement Relating to TARP Housing Assistance Programs Five California Residents Plead Guilty to Defrauding Homeowners in Nationwide Home Loan Modification Scam — Defendants Used US Treasury Seals and Fake TARP Information On March 30, 2016, Roscoe Umali, Jefferson Maniscan, Raymund Dacanay, Isaac Perez, and Joshua Johnson pleaded guilty for their roles in a nationwide home loan modification scam that defrauded over 400 homeowners out of over $3.8 million. Umali and his cohorts falsely claimed to operate a non-profit company, brazenly used the U.S. Treasury seal on fabricated documents, and purported to be connected to the Treasury’s official Home Affordable Modification Program, or HAMP, to induce homeowners to make payments of thousands of dollars in exchange for supposed home loan modification assistance. In reality, however, the defendants convinced homeowners to send them “reinstatement fees” and make several monthly “trial mortgage payments” to the co-conspirators, rather than to the homeowners’ lenders and many victims lost their homes. This case was investigated by SIGTARP and is being prosecuted by the United States Attorneys’ Office for the Eastern District of Virginia. Ringleader and Others Who Perpetrated More than $3 Million Mortgage Loan Modification Scheme Pleads Guilty On March 22, 2016, Aria Maleki pleaded guilty to conspiring to defraud homeowners across the United States who were seeking mortgage loan modifications. Three of Maleki’s co-conspirators also pleaded guilty to the same scheme in February 2016. To induce homeowners to pay upfront fees ranging QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 from $2,500 to $4,300, the defendants falsely represented that the homeowners already had been approved for mortgage loan modifications on extremely favorable terms; the mortgage loan modifications already had been negotiated with the homeowners’ lenders; the homeowners qualified for and would receive financial assistance under various government mortgage relief programs, including TARP and HAMP; and if for some reason the mortgage loan modifications fell through, the homeowners would be entitled to a full refund of their fees. More than 1,000 homeowners suffered losses totaling more than $3 million. Additionally, three other co-defendants were charged in January 2016. This matter is being investigated by SIGTARP, the United States Attorney’s Office for the District of Connecticut, DHS-HIS, USPIS, HUD-OIG, FHFA-OIG, FBI, with assistance from the Oklahoma Attorney General’s Office. California Man Charged for Defrauding More than 400 Homeowners Out of $2.7 Million On March 3, 2016, Chad Caldaronello, aka Chad Carlson, and aka Chad Johnson was charged with mail fraud as part of his scheme to defraud struggling homeowners. As described in the charging document, Caldaronello, together with co-conspirators, operated several businesses, including HOPE Services and HAMP Services, promising loan modifications to distressed homeowners. Beginning in 2014 and ending in 2015, Caldaronello and his co-conspirators executed a scheme to induce distressed homeowners to pay trial payments to one of his companies. As part of the scheme, Caldaronello and his co-conspirators represented to struggling homeowners that HOPE Services and HAMP Services worked with government agencies and that HOPE Services and HAMP Services were authorized by federal government to help facilitate the loan modification process for homeowners. More than 400 homeowners were defrauded out of over $2.7 million. Instead of using the funds to help the homeowners, Caldaronello used the funds to pay sales commissions and for his own personal use, including for daily living expenses and trips to Las Vegas. SIGTARP investigated the case with the FBI. The case is being prosecuted by the Central District of California. SIGTARP Audit Oversight Through 42 audit and other reports and 200 recommendations, SIGTARP protects additional TARP dollars and TARP programs, and finds savings for the Government. As TARP has shifted away from Treasury investments in large institutions, SIGTARP has shifted its audit and oversight work to focus on looking for vulnerabilities in TARP to fraud, waste, and abuse, or improper payments, in ongoing TARP housing and small bank programs. SIGTARP’s efforts also make these programs more effective and efficient. For example, as Treasury actively disburses $489 million in TARP to 7 states for the demolition of vacant houses, and recently approved $161.2 million in TARP to first-time homebuyers, both new activities in TARP, SIGTARP through audit and oversight work is protecting 33 34 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM that money and those programs, recently making 22 recommendations to reduce vulnerabilities in both subprograms. SIGTARP’s audit and oversight work also helps detect fraud, waste, and abuse. SIGTARP’s forensic auditing unit provides better insight into fraud, waste, and abuse, and seeks recoveries of monies lost to waste and abuse in TARP. This group is focused on prevention and deterrence to make sure we reduce waste, so that SIGTARP does not have to later chase down improper payments. With $17 billion in remaining funds, TARP housing programs continue to need significant oversight. SIGTARP has made 102 recommendations concerning TARP’s housing programs. Over the past year, SIGTARP made 33 recommendations to Treasury that were intended to improve TARP programs, protect taxpayer dollars from fraud, waste, and abuse, and make TARP more effective and efficient. These included recommendations that identified for Treasury ways to improve HHF, particularly HHF’s Blight Elimination Program and HHF Florida. Treasury has taken some action on SIGTARP’s recommendations to improve HHF. Beginning in mid-2013, Treasury expanded TARP to pay for the demolition of abandoned properties in seven states. In FY 2015, these demolitions started. Treasury has allocated $489 million in TARP dollars to these demolitions. SIGTARP’s team of auditors and evaluators work hard to identify vulnerabilities that could hurt this use of TARP. SIGTARP recently issued an audit finding that the demolition strategy, decisions, and activities, are done by contractors and subcontractors far removed from Treasury, whose identity is unknown to Treasury, with little information flowing to Treasury. Given the importance of protecting these dollars, this group is actively working on an audit to identify areas of risk in the Blight Elimination Program. They will also help identify other areas for other audit groups to work on in this program. S ECT I O N 2 SIGTARP RECOMMENDATIONS 36 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 SIGTARP has a responsibility to conduct oversight over all aspects of TARP programs. Making recommendations to improve the effectiveness and efficiency of Government, and prevent fraud, waste, and abuse, is the traditional role of an office of inspector general. As the Special OIG over TARP, SIGTARP’s role is to make TARP better by improving the effectiveness and efficiency of Government TARP programs, and protect TARP from fraud, waste, and abuse. Within that role, SIGTARP conducts oversight to gain insight into areas where TARP can be improved. SIGTARP’s reports and recommendations raise awareness to obstacles to TARP success. SIGTARP recommends improvements in TARP programs to Treasury, other Federal agencies with a role in TARP (such as federal banking regulators in TARP bank programs), as well as others who Treasury has chosen to administer TARP programs, such as mortgage servicers in HAMP, and state housing finance agencies in the Hardest Hit Fund. Over the past year, SIGTARP made 33 recommendations to Treasury that were intended to improve TARP programs, protect taxpayer dollars from fraud, waste, and abuse, and make the programs more effective and efficient. That goal was stymied as a result of non-responsiveness — Treasury did not respond to SIGTARP’s recommendations for months, some nearly one year. While Treasury has now responded to our numerous recommendations, that response was brought about only after Congressional pressure. For instance, SIGTARP raised concerns in an urgent Alert Letter to Secretary Lew recommending Treasury ensure lived-in homes were not demolished using HHF funds. The need for immediate action was acute as SIGTARP had discovered that lived-in homes had already been torn down and there was the possibility that similar demolitions might occur. Although urgent, Treasury only addressed the problem after the House Committee on Oversight and Government Reform scheduled a hearing on the issues. Similarly, Treasury did not formally respond to those or the rest of SIGTARP’s 2015 recommendations until late March 2016, only after 11 members of Congress wrote a letter to President Obama demanding executive action to address SIGTARP’s audits and recommendations concerning HHF. Addressing this 12 months of SIGTARP audit work, Treasury said that where SIGTARP’s recent recommendations are able to be implemented or the “spirit” of the recommendations is able to be addressed, Treasury has either done or is in the process of doing so. But, in many instances, Treasury has not pointed to additional activity it conducted since SIGTARP made those recommendations. If Treasury’s conduct was efficient and effective, SIGTARP would not have made those recommendations. So, Treasury should reconsider and implement these recommendations immediately. Treasury, however, is making progress in implementing some of SIGTARP’s recommendations concerning HHF – a positive sign – and SIGTARP will continue to monitor Treasury’s progress. 37 38 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM RECOMMENDATIONS RELATED TO THE HARDEST HIT FUND BLIGHT ELIMINATION PROGRAM In April 2015, SIGTARP reported that the Hardest Hit Fund Blight Elimination Program is designed in a way that leaves Treasury in the dark on strategies, decisions, and blight elimination activity conducted under HHF and paid for with TARP dollars. Treasury takes a hand-off approach to the HHF Blight Elimination Program and has very limited involvement in the planning or execution of the program. And, Treasury has not taken a risk-based approach to identify and mitigate risks that could form barriers to the most effective use of TARP funds for demolition activity or could lead to fraud, waste, and abuse. To address these concerns, SIGTARP made nine detailed recommendations to improve and protect HHF’s blight elimination program from fraud, waste, and abuse. Treasury, however, did not respond to those recommendations until a year later, in April 2016. While Treasury responded that it has implemented or is in the process of implementing four of these recommendations, it rejected the other five. The SIGTARP recommendations Treasury rejected encouraged Treasury to: • keep itself informed and gain insight of critical HHF blight eliminations activities, • increase transparency by publicizing HHF information on Treasury’s website, • engage in comprehensive planning to ensure HHF blight elimination sets target outcomes to increase home values and decrease foreclosure, and • require quarterly, detailed accounting by state housing finance agencies on how TARP funds are spent. In December 2015, SIGTARP made three urgent recommendations to ensure taxpayer HHF dollars were not being used to demolish lived-in homes. Although Treasury has taken positive steps to prevent this activity going forward, Treasury rejected SIGTARP’s recommendation to claw back $246,490 in TARP payments used to demolish lived-in residences rather than abandoned zombie properties, as Treasury intended. Treasury should implement SIGTARP’s HHF Blight Elimination recommendations immediately. RECOMMENDATIONS RELATED TO THE HARDEST HIT FLORIDA In October 2015, SIGTARP reported that, according to Treasury’s data, only 20% of homeowners who applied for help from HHF Florida received assistance. HHF Florida consistently denied homeowners at higher rates (38-45%) than the national average, which improved this year, but is still slightly above the national average. SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 Also according to Treasury’s data, nearly 40% of all homeowners who applied to HHF Florida either withdrew their application or had their application withdrawn by Florida’s HFA, which is far higher than the national average. To address these concerns, SIGTARP made 20 detailed recommendations to make HHF Florida more effective. Treasury, however, did not respond to those recommendations until 6 months later, in April 2016. While Treasury responded that it has implemented or is in the process of implementing half of these 20 recommendations, it rejected the other 10. The SIGTARP recommendations Treasury rejected encouraged Treasury to: • improve HHF Florida’s effectiveness by setting admission rate targets, • require housing finance agencies to report homeowner application withdrawals, and Treasury to post that information on its website for transparency and accountability, • identify obstacles to senior citizens struggling to get HHF assistance, • ensure HHF Florida assists homeowners consistently throughout the state, • reduce the rate of homeowner applications withdrawn by setting and measuring targets, and • prevent fraud, waste, and abuse in HHF by monitoring criminal convictions – especially mortgage related ones – for HHF applicants. Treasury should implement SIGTARP’s HHF Blight Elimination recommendations concerning Florida immediately. RECOMMENDATIONS RELATED TO THE HARDEST HIT FUND AND STATE PENSION OBLIGATIONS In December 2015, SIGTARP made a detailed recommendation to Treasury to ensure taxpayer HHF funds are used only for foreclosure prevention activities, as required by Emergency Economic Stabilization Act of 2008 (“EESA”). Treasury, however, did not respond to that recommendation until months later, in April 2016, stating that it has implemented or is in the process of implementing this recommendation. SIGTARP encourages Treasury to do so immediately. 39 X X 7 * In formulating the structure of TALF, Treasury should consider requiring, before committing TARP funds to the program, that certain minimum underwriting standards and/or other fraud prevention mechanisms be put in place with respect to the ABS and/ or the assets underlying the ABS used for collateral. X X X X X X Continued on next page The Federal Reserve announced that RMBS were ineligible for TALF loans, rendering this recommendation moot. On December 1, 2010, the Federal Reserve publicly disclosed the identities of all TALF borrowers and that there had been no surrender of collateral. SIGTARP will continue to monitor disclosures if a collateral surrender takes place. Treasury has formalized its valuation strategy and regularly publishes its estimates. This recommendation was implemented with respect to CMBS, and the Federal Reserve did not expand TALF to RMBS. This recommendation was implemented with respect to CMBS, and the Federal Reserve did not expand TALF to RMBS. The Federal Reserve adopted mechanisms that address this recommendation. While Treasury has required CDCI participants to report on their actual use of TARP funds, no other TARP recipients were required to do so. Treasury made the reporting by CPP recipients only voluntary. Although Treasury has made substantial efforts to comply with this recommendation in many of its agreements, there have been exceptions, including in its agreements with servicers in MHA. Partial In Process None TBD/NA Comments Implementation Status Note: * Indicates that Treasury considers the recommendation closed and will take no further action. 13 * In TALF, Treasury should dispense with rating agency determinations and require a security-by-security screening for each legacy RMBS. Treasury should refuse to participate if the program is not designed so that RMBS, whether new or legacy, will be rejected as collateral if the loans backing particular RMBS do not meet certain baseline underwriting criteria or are in categories that have been proven to be riddled with fraud, including certain undocumented subprime residential mortgages. 12 * Treasury and the Federal Reserve should provide to SIGTARP, for public disclosure, the identity of the borrowers who surrender collateral in TALF. Treasury should formalize its valuation strategy and begin providing values of the TARP investments to the public. 10 * Treasury should oppose any expansion of TALF to legacy MBS without significant modifications to the program to ensure a full assessment of risks associated with such an expansion. 11 X 9 * Treasury should give careful consideration before agreeing to the expansion of TALF to include MBS without a full review of risks that may be involved and without considering certain minimum fraud protections. 8 * Agreements with TALF participants should include an acknowledgment that: (1) they are subject to the oversight of OFS-Compliance and SIGTARP, (2) with respect to any condition imposed as part of TALF, that the party on which the condition is imposed is required to establish internal controls with respect to each condition, report periodically on such compliance, and provide a certification with respect to such compliance. X X X X Full 6 * Treasury begins to develop an overall investment strategy to address its portfolio of stocks and decide whether it intends to exercise warrants of common stock. 5 * Treasury quickly determines its going-forward valuation methodology. 4 * Treasury should require all TARP recipients to report on the actual use of TARP funds. 3 * All existing TARP agreements, as well as those governing new transactions, should be posted on the Treasury website as soon as possible. 2 * Treasury should include language in new TARP agreements to facilitate compliance and oversight. Specifically, SIGTARP recommends that each program participant should (1) acknowledge explicitly the jurisdiction and authority of SIGTARP and other oversight bodies, as relevant, to oversee compliance of the conditions contained in the agreement in question, (2) establish internal controls with respect to that condition, (3) report periodically to the Compliance department of the Office of Financial Stability (“OFSCompliance”) regarding the implementation of those controls and its compliance with the condition, and (4) provide a signed certification from an appropriate senior official to OFS-Compliance that such report is accurate. 1 * Treasury should include language in the automobile industry transaction term sheet acknowledging SIGTARP’s oversight role and expressly giving SIGTARP access to relevant documents and personnel. Recommendation SIGTARP RECOMMENDATIONS TABLE 40 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM X 19 * Treasury should address the confusion and uncertainty on executive compensation by immediately issuing the required regulations. Implementation Status X X Treasury should require servicers in MHA to submit third-party verified evidence that the applicant is residing in the subject property before funding a mortgage modification. X X Note: * Indicates that Treasury considers the recommendation closed and will take no further action. 26 * In MHA, Treasury should require a closing-like procedure be conducted that would include (1) a closing warning sheet that would warn the applicant of the consequences of fraud; (2) the notarized signature and thumbprint of each participant; (3) mandatory collection, copying, and retention of copies of identification documents of all participants in the transaction; (4) verbal and written warnings regarding hidden fees and payments so that applicants are made fully aware of them; (5) the benefits to which they are entitled under the program (to prevent a corrupt servicer from collecting payments from the Government and not passing the full amount of the subsidies to the homeowners); and (6) the fact that no fee should be charged for the modification. 25 24 * Treasury should require PPIP managers to provide most favored nation clauses to PPIF equity stakeholders, to acknowledge that they owe Treasury a fiduciary duty, and to adopt a robust ethics policy and compliance apparatus. X 23 * Treasury should require that all PPIF fund managers (1) have stringent investor-screening procedures, including comprehensive “Know Your Customer” requirements at least as rigorous as that of a commercial bank or retail brokerage operation to prevent money laundering and the participation of actors prone to abusing the system, and (2) be required to provide Treasury with the identities of all the beneficial owners of the private interests in the fund so that Treasury can do appropriate diligence to ensure that investors in the funds are legitimate. X X Continued on next page Treasury rejected SIGTARP’s recommendation for a closing-like procedure. However, since this recommendation was issued, Treasury has taken several actions to prevent fraud on the part of either MHA servicers or applicants. Treasury’s agreements with PPIF managers include investor-screening procedures such as “Know Your Customer” requirements. Treasury has agreed that it will have access to any information in a fund manager’s possession relating to beneficial owners. However, Treasury did not impose an affirmative requirement that managers obtain and maintain beneficial owner information. Treasury has adopted some significant conflict-of-interest rules related to this recommendation, but has failed to impose other significant safeguards. Treasury closed the program with no investments having been made, rendering this recommendation moot. According to Treasury, OFS-Compliance has increased its staffing level and has contracted with four private firms to provide additional assistance to OFS-Compliance. The Federal Reserve adopted mechanisms that address this recommendation with respect to CMBS, and did not expand TALF to RMBS. This recommendation was implemented with respect to CMBS, and the Federal Reserve did not expand TALF to RMBS. Partial In Process None TBD/NA Comments 22 * Treasury should impose strict conflict-of-interest rules upon PPIF managers across all programs that specifically address whether and to what extent the managers can (1) invest PPIF funds in legacy assets that they hold or manage on behalf of themselves or their clients or (2) conduct PPIF transactions with entities in which they have invested on behalf of themselves or others. 21 * Treasury should require CAP participants to (1) establish an internal control to monitor their actual use of TARP funds, (2) provide periodic reporting on their actual use of TARP funds, (3) certify to OFS-Compliance, under the penalty of criminal sanction, that the report is accurate, that the same criteria of internal controls and regular certified reports should be applied to all conditions imposed on CAP participants, and (4) acknowledge explicitly the jurisdiction and authority of SIGTARP and other oversight bodies, as appropriate, to oversee conditions contained in the agreement. X X 18 * All TALF modeling and decisions, whether on haircuts or any other credit or fraud loss mechanisms, should account for potential losses to Government interests broadly, including TARP funds, and not just potential losses to the Federal Reserve. 20 * Treasury should significantly increase the staffing levels of OFS-Compliance and ensure the timely development and implementation of an integrated risk management and compliance program. X 17 * Treasury should not allow Legacy Securities PPIFs to invest in TALF unless significant mitigating measures are included to address these dangers. 16 * Treasury should design a robust compliance protocol with complete access rights to all TALF transaction participants for itself, SIGTARP, and other relevant oversight bodies. X 15 * Treasury should require additional anti-fraud and credit protection provisions, specific to all MBS, before participating in an expanded TALF, including minimum underwriting standards and other fraud prevention measures. Full X (CONTINUED) 14 * In TALF, Treasury should require significantly higher haircuts for all MBS, with particularly high haircuts for legacy RMBS, or other equally effective mitigation efforts. Recommendation SIGTARP RECOMMENDATIONS TABLE SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 41 Full X X Treasury should require PPIF managers to obtain and maintain information about the beneficial ownership of all of the private equity interests, and Treasury should have the unilateral ability to prohibit participation of private equity investors. X X Note: * Indicates that Treasury considers the recommendation closed and will take no further action. 39 * Treasury and FRBNY should (1) examine Moody’s assertions that some credit rating agencies are using lower standards to give a potential TALF security the necessary AAA rating and (2) develop mechanisms to ensure that acceptance of collateral in TALF is not unduly influenced by the improper incentives to overrate that exist among the credit agencies. 38 37 * Treasury should require PPIF managers to disclose to Treasury, as part of the Watch List process, not only information about holdings in eligible assets but also holdings in related assets or exposures to related liabilities. 36 * The conditions that give Treasury “cause” to remove a PPIF manager should be expanded to include a manager’s performance below a certain standard benchmark, or if Treasury concludes that the manager has materially violated compliance or ethical rules. Treasury should define appropriate metrics and an evaluation system should be put in place to monitor the effectiveness of the PPIF managers, both to ensure they are fulfilling the terms of their agreements and to measure performance. X X 34 * Treasury should periodically disclose PPIF trading activity and require PPIF managers to disclose to SIGTARP, within seven days of the close of the quarter, all trading activity, holdings, and valuations so that SIGTARP may disclose such information, subject to reasonable protections, in its quarterly reports. 35 X 33 * Treasury should require the imposition of strict information barriers or “walls” between the PPIF managers making investment decisions on behalf of the PPIF and those employees of the fund management company who manage non-PPIF funds. X 31 * In MHA, Treasury should proactively educate homeowners about the nature of the program, warn them about modification rescue fraudsters, and publicize that no fee is necessary to participate in the program. X Continued on next page Treasury and the Federal Reserve have discussed concerns about potential overrating or rating shopping with the rating agencies, and have agreed to continue to develop and enhance risk management tools and processes, where appropriate. Treasury has agreed that it can have access to any information in a fund manager’s possession relating to beneficial owners. However, Treasury is not making an affirmative requirement that managers obtain and maintain beneficial owner information. Treasury will not adopt the recommendation to give itself unilateral ability to deny access to or remove an investor, stating that such a right would deter participation. Treasury has refused to adopt this recommendation, relying solely on Treasury’s right to end the investment period after 12 months. That timeframe has already expired. Treasury’s failure to adopt this recommendation potentially puts significant Government funds at risk. Treasury has stated that it has developed risk and performance metrics. However, more than four years into the program, it is still not clear how Treasury will use these metrics to evaluate the PPIP managers and take appropriate action as recommended by SIGTARP. Treasury has committed to publish on a quarterly basis certain high-level information about aggregated purchases by the PPIFs, but not within seven days of the close of the quarter. Treasury has not committed to providing full transparency to show where public dollars are invested by requiring periodic disclosure of every trade in the PPIFs. Treasury has refused to adopt this significant anti-fraud measure designed to prevent conflicts of interest. This represents a material deficiency in the program. While Treasury’s program administrator, Fannie Mae, has developed a HAMP system of record that maintains servicers’ names, investor group (private, portfolio, GSE), and participating borrowers’ personally identifiable information, such as names and addresses, the database does not include the name of the investor. Treasury has rejected SIGTARP’s recommendation and does not require income reported on the modification application to be compared to income reported on the original loan application. Treasury has taken steps to implement policies and conduct compliance reviews to address this recommendation. However, it remains unclear if Treasury has an appropriate method to ensure the irregularities identified in the compliance reviews are resolved. Partial In Process None TBD/NA Comments Implementation Status X X 30 * In MHA, Treasury should defer payment of the $1,000 incentive to the servicer until after the homeowner has verifiably made a minimum number of payments under the mortgage modification program. 32 * In MHA, Treasury should require its agents to keep track of the names and identifying information for each participant in each mortgage modification transaction and to maintain a database of such information. X 29 * In MHA, Treasury should require that verifiable, third-party information be obtained to confirm an applicant’s income before any modification payments are made. 28 * In MHA, Treasury should require the servicer to compare the income reported on a mortgage modification application with the income reported on the original loan applications. X (CONTINUED) 27 * Additional anti-fraud protections should be adopted in MHA to verify the identity of the participants in the transaction and to address the potential for servicers to steal from individuals receiving Government subsidies without applying them for the benefit of the homeowner. Recommendation SIGTARP RECOMMENDATIONS TABLE 42 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Treasury should develop other performance metrics and publicly report against them to measure over time the implementation and success of HAMP. For example, Treasury could set goals and publicly report against those goals for servicer processing times, modifications as a proportion of a servicer’s loans in default, modifications as a proportion of foreclosures generally, rates of how many borrowers fall out of the program prior to permanent modification, and re-default rates. Treasury should undertake a sustained public service campaign as soon as possible, both to reach additional borrowers who could benefit from the program and to arm the public with complete, accurate information — this will help to avoid confusion and delay, and prevent fraud and abuse. Treasury should reconsider its position that allows servicers to substitute alternative forms of income verification based on subjective determinations by the servicer. Treasury should re-examine HAMP’s structure to ensure that it is adequately minimizing the risk of re-default stemming from non-mortgage debt, second liens, partial interest rate resets after the five-year modifications end, and from many borrowers being underwater. Treasury should institute careful screening before putting additional capital through CDCI into an institution with insufficient capital to ensure that the TARP matching funds are not flowing into an institution that is on the verge of failure. Treasury should develop a robust procedure to audit and verify the bona fides of any purported capital raise in CDCI and to establish adequate controls to verify the source, amount and closing of all claimed private investments. Treasury should revise CDCI terms to clarify that Treasury inspection and copy rights continue until the entire CDCI investment is terminated. Additionally, consistent with recommendations made in connection with other TARP programs, the terms should be revised to provide expressly that SIGTARP shall have access to the CDFI’s records equal to that of Treasury. 46 47 48 49 50 51 52 X X X Implementation Status X X X X X X Continued on next page Treasury has adopted some programs to assist underwater mortgages to address concerns of negative equity but has not addressed other factors contained in this recommendation. Although Treasury has increased its reporting of servicer performance, it has not identified goals for each metric and measured performance against those goals. Treasury has not set an acceptable metric for redefaults. Despite SIGTARP’s repeated highlighting of this essential transparency and effectiveness measure, Treasury has refused to disclose clear and relevant goals and estimates for the program. Treasury has agreed to work closely with other Federal agencies that are involved in TARP. Treasury stated that it does not anticipate taking a substantial percentage ownership position in any other financial institution pursuant to EESA. Partial In Process None TBD/NA Comments Note: * Indicates that Treasury considers the recommendation closed and will take no further action. Treasury should rectify the confusion that its own statements have caused for HAMP by prominently disclosing its goals and estimates (updated over time, as necessary) of how many homeowners the program will help through permanent modifications and report monthly on its progress toward meeting that goal. 45 44 * Treasury should establish policies to guide decision making in determining whether it is appropriate to defer to another agency when making TARP programming decisions where more than one Federal agency is involved. X X 42 * The Secretary of the Treasury should direct the Special Master to work with FRBNY officials in understanding AIG compensation programs and retention challenges before developing future compensation decisions that may affect both institutions’ ability to get repaid by AIG for Federal assistance provided. 43 * Treasury should establish policies to guide any similar future decisions to take a substantial ownership position in financial institutions that would require an advance review so that Treasury can be reasonably aware of the obligations and challenges facing such institutions. X 41 * Treasury should improve existing control systems to document the occurrence and nature of external phone calls and in-person meetings about actual and potential recipients of funding under the CPP and other similar TARP-assistance programs to which they may be part of the decision making. Full X (CONTINUED) 40 * Treasury should more explicitly document the vote of each Investment Committee member for all decisions related to the investment of TARP funds. Recommendation SIGTARP RECOMMENDATIONS TABLE SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 43 Treasury should ensure that more detail is captured by the Warrant Committee meeting minutes. At a minimum, the minutes should include the members’ qualitative considerations regarding the reasons bids were accepted or rejected within fair market value ranges. Treasury should document in detail the substance of all communications with recipients concerning warrant repurchases. 54 55 For each HAMP-related program and subprogram, Treasury should publish the anticipated costs and expected participation in each and that, after each program is launched, it report monthly as to the program’s performance against these expectations. Treasury should adopt a uniform appraisal process across all HAMP and HAMP-related short-sale and principal reduction programs consistent with FHA’s procedures. When Treasury considers whether to accept an existing CPP participant into SBLF, because conditions for many of the relevant institutions have changed dramatically since they were approved for CPP, Treasury and the bank regulators should conduct a new analysis of whether the applying institution is sufficiently healthy and viable to warrant participation in SBLF. 64 X X X X Full X X X X X X X X Continued on next page For more than a year, Treasury refused to adopt this recommendation, even though average U.S. terms of unemployment were lengthening. However, in July 2011, the Administration announced a policy change, and Treasury has extended the minimum term of the unemployment program from three months to 12 months, effective October 1, 2011. Treasury plans to maintain the voluntary nature of the program, providing an explanation that on its face seems unpersuasive to SIGTARP. SIGTARP will continue to monitor performance. Treasury has provided anticipated costs, but not expected participation. Treasury states that it has developed guidance and provided that guidance to the exceptional assistance participants that were remaining in TARP as of June 30, 2011. Treasury has not addressed other factors contained in this recommendation, citing its belief that materiality should be subject to a fact and circumstances review. Although Treasury largely continues to rely on self-reporting, stating that it only plans to conduct testing where they have particular concerns as to a TARP recipient’s compliance procedures or testing results, it has conducted independent testing of compliance obligations during some compliance reviews. Treasury has adopted procedures designed to address this recommendation, including a policy to discuss only warrant valuation inputs and methodologies prior to receiving a bid, generally to limit discussion to valuation ranges after receiving approval from the Warrant Committee, and to note the provision of any added information in the Committee minutes. However, Treasury believes that its existing internal controls are sufficient to ensure adequate consistency in the negotiation process. Treasury has agreed to document the dates, participants, and subject line of calls. It has refused to document the substance of such conversations. Treasury has indicated that it has implemented this recommendation. Although the detail of the minutes has improved, Treasury is still not identifying how each member of the committee casts his or her vote. Partial In Process None TBD/NA Comments Implementation Status Note: * Indicates that Treasury considers the recommendation closed and will take no further action. Treasury should launch a broad-based information campaign, including public service announcements in target markets that focus on warnings about potential fraud, and include conspicuous fraud warnings whenever it makes broad public announcements about the HAMP program. 63 62 * Treasury should reconsider the length of the minimum term of HAMP’s unemployment forbearance program. 61 60 * Treasury should re-evaluate the voluntary nature of its principal reduction program and, irrespective of whether it is discretionary or mandatory, consider changes to better maximize its effectiveness, ensure to the greatest extent possible the consistent treatment of similarly situated borrowers, and address potential conflict of interest issues. 59 58 * Treasury should develop guidelines that apply consistently across TARP participants for when a violation is sufficiently material to merit reporting, or in the alternative require that all violations be reported. 57 * Treasury should promptly take steps to verify TARP participants’ conformance to their obligations, not only by ensuring that they have adequate compliance procedures but also by independently testing participants’ compliance. 56 * Treasury should develop and follow guidelines and internal controls concerning how warrant repurchase negotiations will be pursued, including the degree and nature of information to be shared with repurchasing institutions concerning Treasury’s valuation of the warrants. Treasury should consider more frequent surveys of a CDCI participant’s use of TARP funds than annually as currently contemplated. Quarterly surveys would more effectively emphasize the purpose of CDCI. (CONTINUED) 53 Recommendation SIGTARP RECOMMENDATIONS TABLE 44 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM X Implementation Status X X X X X X Continued on next page Minutes of recent MHA Compliance Committee meetings contain brief explanations of servicer assessment rating decisions. However, these minutes do not explain the Committee’s deliberations in detail, do not indicate how members voted beyond a tally of the votes, and do not discuss follow-up actions or escalation. Treasury made important changes to its servicer assessments by including metrics for the ratings, including several quantitative metrics. However, qualitative metrics to assess the servicer’s internal controls in the three ratings categories remain, and guidelines or criteria for rating the effectiveness of internal controls are still necessary. Although Treasury previously agreed to implement this recommendation, Treasury only reviewed the legal fee bills for one of the five law firms that SIGTARP had already described as unreasonable. Treasury refuses to seek any reimbursement for those charges. See also Recommendation 81 concerning this issue. Treasury told SIGTARP that OFS has held training on its newly adopted guidance prescribing how legal fee bills should be prepared with OFS COTRs and other staff involved in the review of legal fee bills, and that the OFS COTRs will begin reviewing invoices in accordance with its new guidance for periods starting with March 2011. OFS also stated that it incorporated relevant portions of its training on the new legal fee bill review standards into written procedures. Treasury told SIGTARP that OFS has distributed its new guidance to all law firms currently under contract to OFS. Treasury further stated that OFS will work with Treasury’s Procurement Services Division to begin modifying base contracts for OFS legal services to include those standards as well. Treasury told SIGTARP that OFS has created new guidance using the FDIC’s Outside Counsel Deskbook and other resources. Treasury refused to adopt this recommendation, suggesting that its adoption would subvert the will of Congress and that SIGTARP’s recommendation “may not be helpful” because “it is unclear that using this statutorily mandated baseline will lead to anomalies.” Treasury refused to adopt this recommendation, citing its belief that current CPP participants may be unfairly disadvantaged in their SBLF applications if their existing CPP investments are not counted as part of their capital base, and that SBLF “already provides substantial hurdles that CPP recipients must overcome” that don’t apply to other applicants. Partial In Process None TBD/NA Comments Note: * Indicates that Treasury considers the recommendation closed and will take no further action. 74 * Treasury should ensure that more detail is captured by the MHA Compliance Committee meeting minutes. At a minimum, the minutes should include MHA-C’s proposed rating for each servicer, the committee members’ qualitative and quantitative considerations regarding each servicer’s ratings, the votes of each committee member, the final rating for each servicer, justification for any difference in that rating with MHA-C’s proposed rating, and any follow-up including escalation to Treasury’s Office of General Counsel or the Assistant Secretary and the outcomes of that escalation. 73 * Treasury should establish detailed guidance and internal controls governing how the MHA Servicer Compliance Assessment will be conducted and how each compliance area will be weighted. 72 * OFS should review previously paid legal fee bills to identify unreasonable or unallowable charges, and seek reimbursement for those charges, as appropriate. 71 * OFS should adopt the legal fee bill review standards and procedures contained in the FDIC’s Outside Counsel Deskbook, or establish similarly specific instructions and guidance for OFS COTRs to use when reviewing legal fee bills, and incorporate those instructions and guidance into OFS written policies. X X 69 * Office of Financial Stability (“OFS”) should adopt the legal fee bill submission standards contained in the FDIC’s Outside Counsel Deskbook, or establish similarly detailed requirements for how law firms should prepare legal fee bills and describe specific work performed in the bills, and which costs and fees are allowable and unallowable. 70 * OFS should include in its open legal service contracts detailed requirements for law firms on the preparation and submission of legal fee bills, or separately provide the instructions to law firms and modify its open contracts, making application of the instructions mandatory. X 68 * When a CPP participant refinances into SBLF and seeks additional taxpayer funds, Treasury should provide to SIGTARP the identity of the institution and details of the proposed additional SBLF investment. Treasury should take steps to prevent institutions that are refinancing into the SBLF from CPP from securing windfall dividend reductions without any relevant increase in lending. 66 Full 67 * Treasury, as part of its due diligence concerning any proposed restructuring, recapitalization, or sale of its CPP investment to a third party, should provide to SIGTARP the identity of the CPP institution and the details of the proposed transaction. When Treasury conducts the new analysis of an institution’s health and viability, the existing CPP preferred shares should not be counted as part of the institution’s capital base. (CONTINUED) 65 Recommendation SIGTARP RECOMMENDATIONS TABLE SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 45 (CONTINUED) The Treasury contracting officer should disallow and seek recovery from Simpson Thacher & Bartlett LLP for $91,482 in questioned, ineligible fees and expenses paid that were not allowed under the OFS contract. Specifically, those are $68,936 for labor hours billed at rates in excess of the allowable maximums set in contract TOFS-09-0001, task order 1, and $22,546 in other direct costs not allowed under contract TOFS-09-007, task order 1. Treasury should promptly review all previously paid legal fee bills from all law firms with which it has a closed or open contract to identify unreasonable or unallowable charges and seek reimbursement for those charges, as appropriate. Treasury should require in any future solicitation for legal services multiple rate categories within the various partner, counsel, and associate labor categories. The additional labor rate categories should be based on the number of years the attorneys have practiced law. Treasury should pre-approve specified labor categories and rates of all contracted legal staff before they are allowed to work on and charge time to OFS projects. 80 81 82 83 Note: * Indicates that Treasury considers the recommendation closed and will take no further action. Treasury should specifically determine the allowability of $7,980,215 in questioned, unsupported legal fees and expenses paid to the following law firms: Simpson Thacher & Bartlett LLP ($5,791,724); Cadwalader Wickersham & Taft LLP ($1,983,685); Locke Lord Bissell & Liddell LLP ($146,867); and Bingham McCutchen LLP (novated from McKee Nelson LLP, $57,939). X X X X X X 78 * Treasury must ensure that all servicers participating in MHA comply with program requirements by vigorously enforcing the terms of the servicer participation agreements, including using all financial remedies such as withholding, permanently reducing, and clawing back incentives for servicers who fail to perform at an acceptable level. Treasury should be transparent and make public all remedial actions taken against any servicer. 79 X 77 * Treasury should publicly assess the top 10 MHA servicers’ program performance against acceptable performance benchmarks in the areas of: the length of time it takes for trial modifications to be converted into permanent modifications, the conversion rate for trial modifications into permanent modifications, the length of time it takes to resolve escalated homeowner complaints, and the percentage of required modification status reports that are missing. X Continued on next page Treasury neither agreed nor disagreed with the recommendation. Treasury neither agreed nor disagreed with the recommendation. Treasury only reviewed the legal fee bills for one of the five law firms that SIGTARP had already described as unreasonable. Treasury refuses to seek any reimbursements for those charges. Treasury neither agreed nor disagreed with the recommendation. Treasury neither agreed nor disagreed with the recommendation. Treasury has rejected this important recommendation, stating that it believes that the remedies enacted have been appropriate and that appropriate transparency exists. Treasury has rejected this recommendation, saying only that it would “continue to develop and improve the process where appropriate.” Treasury told SIGTARP that it already established benchmarks in this area, including that trial periods should last three to four months, and escalated cases should be resolved in 30 days. If these are the benchmarks for acceptable performance, many servicers have missed the mark. Also, Treasury has yet to establish a benchmark for conversion rates from trial modifications to permanent modifications. Treasury has refused to adopt this recommendation, saying it already requires a loan servicer to communicate in writing with a borrower an average of 10 times. However, most written requirements apply to a HAMP application and Treasury’s response fails to address homeowners who receive miscommunication from servicers on important milestones or changes. More than two years after this recommendation was issued on August 31, 2011, CFPB began requiring servicers to provide written notification to homeowners under a wide range of circumstances, some of which would be helpful to homeowners in or seeking MHA assistance. Treasury should implement these notification requirements in HAMP so that it can assess compliance and take action for non-compliance, such as withholding or clawing back HAMP incentives payments. Partial In Process None TBD/NA Comments X Full Implementation Status 76 * Treasury should establish benchmarks and goals for acceptable program performance for all MHA servicers, including the length of time it takes for trial modifications to be converted into permanent modifications, the conversion rate for trial modifications into permanent modifications, the length of time it takes to resolve escalated homeowner complaints, and the percentage of required modification status reports that are missing. 75 * Treasury should require that MHA servicer communications with homeowners relating to changes in the status or terms of a homeowner’s modification application, trial or permanent modification, HAFA agreement, or any other significant change affecting the homeowner’s participation in the MHA program, be in writing. Recommendation SIGTARP RECOMMENDATIONS TABLE 46 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM (CONTINUED) Treasury should protect borrower personally identifiable information (“PII”) and other sensitive borrower information compiled for the Hardest Hit Fund (“HHF”) by: (1) requiring that within 90 days, all Housing Finance Agencies (and their contractors) (“HFAs”) participating in HHF develop and implement effective policies and procedures to ensure protection against unauthorized access, use, and disposition of PII and other sensitive borrower information; (2) Treasury reviewing each HFA’s policies and procedures to determine if they are effective, and taking such action as is required to ensure effectiveness; (3) requiring that all parties granted access to borrower information should be made aware of restrictions on copying and disclosing this information; (4) requiring annual certification by HFAs to Treasury that they are in compliance with all applicable laws, policies and procedures pertaining to borrower information; and (5) requiring that HFAs promptly notify Treasury and SIGTARP within 24 hours, when a breach of security has occurred involving borrower information. In order to allow for effective compliance and enforcement in HAMP Tier 2, Treasury should require that the borrower prove that the property has been rented and is occupied by a tenant at the time the borrower applies for a loan modification, as opposed to requiring only a certification that the borrower intends to rent the property. As part of the Request for Mortgage Assistance (“RMA”) application for HAMP Tier 2, the borrower should provide the servicer with a signed lease and third-party verified evidence of occupancy in the form of documents showing that a renter lives at the property address, such as a utility bill, driver’s license, or proof of renter’s insurance. In the case of multipleunit properties under one mortgage Treasury should require that the borrower provide the servicer with evidence that at least one unit is occupied by a tenant as part of the RMA. X Full Implementation Status X X X X X X Continued on next page Treasury responded to this recommendation by requiring that borrowers certify that they intend to rent the property for at least five years and that they will make reasonable efforts to rent. This does not go far enough. Requiring only a selfcertification, under penalty of perjury, without a strong compliance and enforcement regime to ensure that the intent is carried out and the property is actually rented, leaves the program vulnerable to risks that TARP funds will pay investors for modifications for mortgages on vacation homes that are not rented, and may delay, as opposed to prevent, foreclosures and increase HAMP redefault rates. Although Treasury created written policies and procedures in June 2013, OSM’s policy only contains Treasury’s rule and language from the statute, all of which was existing prior to OSM’s creation. Therefore, OSM has not created its own formal policies. OSM’s written procedures are merely a documentation of some of OSM’s existing practices and guidelines, but not others as contained in the pay determination letters, and were not a new development of robust policies, procedures or guidelines. They do not establish meaningful criteria Treasury can follow for approving cash salaries exceeding $500,000, pay exceeding market medians, pay raises, or the use of longterm restricted stock. In 2012, Treasury began to preserve the independent market data on which it relied to evaluate the market data submitted by the companies. While Treasury’s documentation of granting these cash salaries has improved in that it includes some additional information beyond the company’s assertions, that information is primarily market data that the company provides. The recommendation was not to document better, but instead to “substantiate,” which requires some criteria for granting exceptions as well as independent analysis beyond the company’s assertions. Treasury’s policies and procedures do not contain any criteria for approving cash salaries exceeding $500,000 or any discussion of any analysis by Treasury. Treasury has said it is implementing this recommendation. SIGTARP will monitor Treasury’s efforts to implement the recommendation. Treasury rejected this recommendation without ever addressing why. Treasury responded that it continues its efforts to wind down CPP through repayments, restructuring, and sales. Treasury has not addressed the criteria for these divestment strategies or consulted with regulators. Partial In Process None TBD/NA Comments Note: * Indicates that Treasury considers the recommendation closed and will take no further action. 90 89 * The Office of the Special Master should develop more robust policies, procedures, or guidelines to help ensure that its pay determination process and its decisions are evenhanded. These measures will improve transparency and help the Office of the Special Master consistently apply the Interim Final Rule principles of “appropriate allocation,” “performance-based compensation,” and “comparable structures and payments.” 88 * The Office of the Special Master should better document its use of market data in its calculations. At a minimum, the Office of the Special Master should prospectively document which companies and employees are used as comparisons in its analysis of the 50th percentile of the market, and it should also maintain records and data so that the relationship between its determinations and benchmarks are clearly understood. 87 * To ensure that the Office of the Special Master consistently grants exceptions to the $500,000 cash salary cap, the Office of the Special Master should substantiate each exception requested and whether the requests demonstrate or fail to demonstrate “good cause.” 86 85 * Treasury should assess whether it should renegotiate the terms of its Capital Purchase Program contracts for those community banks that will not be able to exit TARP prior to the dividend rate increase in order to help preserve the value of taxpayers’ investments. 84 * Treasury, in consultation with Federal banking regulators, should develop a clear TARP exit path to ensure that as many community banks as possible repay the TARP investment and prepare to deal with the banks that cannot. Treasury should develop criteria pertaining to restructurings, exchanges, and sales of its TARP investments (including any discount of the TARP investment, the treatment of unpaid TARP dividend and interest payments, and warrants). Recommendation SIGTARP RECOMMENDATIONS TABLE SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 47 To ensure servicer compliance with HAMP Tier 2 guidelines and assess servicer performance, 95 Treasury should set meaningful and measurable performance goals for the Hardest Hit Fund program including, at a minimum, the number of homeowners Treasury estimates will be helped by the program, and measure the program’s progress against those goals. 97 Full X X X X X X X Continued on next page In action memoranda sent to 5 state housing finance agencies in 2012 and one in 2015, Treasury appears to be saying it will hold states accountable to estimated numbers of homeowners to be helped. In an action memorandum sent to one other housing finance agency in 2015, Treasury strongly recommended immediate action to address uncorrected deficiencies in HHF performance, declining performance trends, and program oversight. Treasury should set other targeted goals. Treasury has rejected this recommendation. Treasury’s refusal to provide meaningful and measurable goals leaves it vulnerable to accusations that it is trying to avoid accountability. Treasury assesses servicer compliance by reviewing samples of files of homeowner data in HAMP Tier 1 and Tier 2. Treasury, however, is not reporting Tier 2 information separately as SIGRARP recommended, making targeted insight into HAMP Tier 2 improvements difficult. Treasury has not implemented this recommendation. Treasury has not held a summit of all key stakeholders to make the program roll-out efficient and effective. Treasury has not implemented this recommendation. It is important that Treasury educate as many homeowners as possible with accurate information about HAMP in an effort to prevent mortgage modification fraud. Treasury told SIGTARP that implementing this recommendation would create significant additional procedures and documentation requirements. With no compliance regime to determine that a renter is in place, the program remains vulnerable to TARP funds being paid to modify mortgages that do not fit within the intended expansion of the program. Treasury rejected this recommendation, stating that eligibility is not retested prior to conversion. This does not go far enough. Requiring only a self-certification, without a strong compliance and enforcement regime to ensure that the intent is carried out and the property is actually rented, leaves the program vulnerable to risks that TARP funds will pay investors for modifications for mortgages on vacation homes that are not rented, and may delay, as opposed to prevent, foreclosures and increase HAMP redefault rates. Partial In Process None TBD/NA Comments Implementation Status Note: * Indicates that Treasury considers the recommendation closed and will take no further action. To allow for assessment of the progress and success of HAMP Tier 2, Treasury should set meaningful and measurable goals, including at a minimum the number of borrowers Treasury estimates will be helped by HAMP Tier 2. Treasury should unambiguously and prominently disclose its goals and report monthly on its progress in meeting these goals. 96 (b) Treasury should develop and publish separate metrics related to HAMP Tier 2 in the compliance results and program results sections of the quarterly Making Home Affordable (“MHA”) servicer assessments of the Top 10 MHA servicers. (a) Treasury should include additional criteria in its servicer compliance assessments that measure compliance with the program guidelines and requirements of HAMP Tier 2. Given the expected increase in the volume of HAMP applications due to the implementation of HAMP Tier 2, Treasury should convene a summit of key stakeholders to discuss program implementation and servicer ramp-up and performance requirements so that the program roll-out is efficient and effective. (b) Treasury should undertake a sustained public service campaign as soon as possible both to reach additional borrowers who could potentially be helped by HAMP Tier 2 and to arm the public with complete, accurate information about the program to avoid confusion and delay, and to prevent fraud and abuse. (a) Treasury should require that servicers provide the SIGTARP/CFPB/Treasury Joint Task Force Consumer Fraud Alert to all HAMP-eligible borrowers as part of their monthly mortgage statement until the expiration of the application period for HAMP Tier 1 and 2. In order to protect against the possibility that the extension and expansion of HAMP will lead to an increase in mortgage modification fraud, (c) Treasury should bar payment of TARP-funded incentives to any participant for a loan modification on a property that has been reported vacant for more than three months, until such time as the property has been re-occupied by a tenant and the borrower has provided third-party verification of occupancy. (b) Treasury should require servicers to provide monthly reports to Treasury of any properties that have remained vacant for more than three months. 94 93 To prevent a property that has received a HAMP Tier 2 modification from remaining vacant for an extended period of time after a lease expires or a tenant vacates, 92 (a) Treasury should require that borrowers immediately notify their servicer if the property has remained vacant for more than three months. To continue to allow for effective compliance and enforcement in HAMP Tier 2 after the trial modification has started, Treasury should require that, prior to conversion of a trial modification to a permanent modification, the borrower certify under penalty of perjury that none of the occupancy circumstances stated in the RMA have changed. (CONTINUED) 91 Recommendation SIGTARP RECOMMENDATIONS TABLE 48 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Treasury should develop an action plan for the Hardest Hit Fund that includes steps to increase the numbers of homeowners assisted and to gain industry support for Treasuryapproved HHF programs. Treasury should set interim metrics for how many homeowners it intends to assist in a Treasury-defined time period in each particular program (such as principal reduction, second lien reduction, or reinstatement). If Treasury cannot achieve the desired level of homeowners assisted in any one program area in the defined time period, Treasury should put the funds to better use toward programs that are reaching homeowners. Treasury should stop allowing servicers to add a risk premium to Freddie Mac’s discount rate in HAMP’s net present value test. Treasury should ensure that servicers use accurate information when evaluating net present value test results for homeowners applying to HAMP and should ensure that servicers maintain documentation of all net present value test inputs. To the extent that a servicer does not follow Treasury’s guidelines on input accuracy and documentation maintenance, Treasury should permanently withhold incentives from that servicer. Treasury should require servicers to improve their communication with homeowners regarding denial of a HAMP modification so that homeowners can move forward with other foreclosure alternatives in a timely and fully informed manner. To the extent that a servicer does not follow Treasury’s guidelines on these communications, Treasury should permanently withhold incentives from that servicer. Treasury should ensure that more detail is captured by the Making Home Affordable Compliance Committee meeting minutes regarding the substance of discussions related to compliance efforts on servicers in HAMP. Treasury should make sure that minutes clearly outline the specific problems encountered by servicers, remedial options discussed, and any requisite actions taken to remedy the situation. In order to protect taxpayers who funded TARP against any future threat that might result from LIBOR manipulation, Treasury and the Federal Reserve should immediately change any ongoing TARP programs including, without limitation, PPIP and TALF, to cease reliance on LIBOR. 101 102 103 104 105 106 X Full Implementation Status X X X X X X X X Continued on next page Neither Treasury nor the Federal Reserve has agreed to implement this recommendation despite Treasury telling SIGTARP that it “share[s SIGTARP’s] concerns about the integrity” of LIBOR, and the Federal Reserve telling SIGTARP that it agreed that “recent information regarding the way the LIBOR has been calculated has created some uncertainty about the reliability of the rate.” Treasury has not implemented this recommendation. SIGTARP found a lack of detail in Treasury’s meeting minutes and because Treasury failed to document its oversight, SIGTARP was unable to verify Treasury’s role in the oversight of servicers or its compliance agent Freddie Mac. Treasury has not implemented this recommendation. Servicer errors using NPV inputs and the lack of properly maintained records on NPV inputs have diminished compliance and placed the protection of homeowner’s rights to challenge servicer error at risk. Treasury has not implemented this recommendation. The addition of a risk premium reduces the number of otherwise qualified homeowners Treasury helps through HAMP. Treasury should implement this recommendation to increase assistance to struggling homeowners. Treasury has expanded the type of assistance offered, but shifted funding from HHF programs that helped homeowners directly to assistance for first time homebuyer downpayments and the demolition of vacant homes. Treasury issued letters to six housing finance agencies (5 in 2012 and 1 in 2015) requiring those states to provide an action plan with measurable interim and overall goals, including benchmarks, to improve the number of homeowners assisted under HHF. Treasury must do more to increase homeowner admission in HHF. Treasury has only partially implemented this recommendation. Treasury recently started publishing some aggregated data on its website. However, Treasury does not publish all of the data SIGTARP recommended nor does Treasury publish any data at all concerning the Hardest Hit Fund in the Housing Scorecard. Treasury issued letters to five housing finance agencies (4 in 2012 and 1 in 2015) requiring those states to provide an action plan with measurable interim and overall goals, after which Treasury said it would make program adjustments. There were some improvements in Florida in 2013. Treasury must have a sustained commitment to making program adjustments. Treasury issued letters to six housing finance agencies (5 in 2012 and 1 in 2015) requiring those states to provide an action plan with measurable interim and overall goals, including benchmarks, to improve the level of homeowner assistance under the HHF program. Treasury should fully adopt SIGTARP’s recommendation with the remaining 13 housing finance agencies in the HHF program. SIGTARP will continue to monitor implementation of this recommendation. Partial In Process None TBD/NA Comments Note: * Indicates that Treasury considers the recommendation closed and will take no further action. Treasury should publish on its website and in the Housing Scorecard on a quarterly basis the total number of homeowners assisted, funds drawn down by states, and dollars expended for assistance to homeowners, assistance committed to homeowners, and cash on hand, aggregated by all state Hardest Hit Fund programs. Treasury should set milestones at which the state housing finance agencies in the Hardest Hit Fund must review the progress of individual state programs and make program adjustments from this review. 99 100 Treasury should instruct state housing finance agencies in the Hardest Hit Fund to set meaningful and measurable overarching and interim performance goals with appropriate metrics to measure progress for their individual state programs. (CONTINUED) 98 Recommendation SIGTARP RECOMMENDATIONS TABLE SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 49 X X 111 * Each year, Treasury should reevaluate total compensation for those employees at TARP exceptional assistance companies remaining in the Top 25 from the prior year, including determining whether to reduce total compensation. 112 * To ensure that Treasury effectively applies guidelines aimed at curbing excessive pay and reducing risk taking, Treasury should develop policies, procedures, and criteria for approving pay in excess of Treasury guidelines. Note: * Indicates that Treasury considers the recommendation closed and will take no further action. 114 * To be consistent with Treasury’s Interim Final Rule that the portion of performancebased compensation compared to total compensation should be greater for positions that exercise higher levels of responsibility, Treasury should return to using long-term restricted stock for employees, particularly senior employees such as CEOs. 113 * Treasury should independently analyze whether good cause exists to award a Top 25 employee a pay raise or a cash salary over $500,000. To ensure that the Office of the Special Master has sufficient time to conduct this analysis, Treasury should allow OSM to work on setting Top 25 pay prior to OSM’s receiving the company pay proposals, which starts the 60-day timeline. X Treasury should better document its decision whether or not to auction its preferred shares in a TARP bank to adequately reflect the considerations made for each bank and detailed rationale. 110 X X X In order to fulfill Treasury’s responsibility to wind down its TARP investments in a way that promotes financial stability and preserves the strength of our nation’s community banks, Treasury should undertake an analysis in consultation with Federal banking regulators that ensures that it is exiting its Capital Purchase Program investments in a way that satisfies the goals of CPP, which are to promote financial stability, maintain confidence in the financial system and enable lending. This financial stability analysis of a bank’s exit from TARP should determine at a minimum: (1) that the bank will remain healthy and viable in the event of an auction of Treasury’s preferred shares; and (2) that the bank’s exit from TARP does not have a negative impact on the banking industry at a community, state, regional, and national level. Treasury should document that analysis and consultation. 109 X In order to fulfill Treasury’s responsibility to wind down its TARP Capital Purchase Program investments in a way that protects taxpayer interests, before allowing a TARP bank to purchase Treasury’s TARP shares at a discount to the TARP investment (for example as the successful bidder at auction), Treasury should undertake an analysis, in consultation with Federal banking regulators, to determine that allowing the bank to redeem its TARP shares at a discount to the TARP investment outweighs the risk that the bank will not repay the full TARP investment. Treasury should document that analysis and consultation. Continued on next page In 2013, Treasury allowed some GM employees not to have long-term restricted stock and effectively approved only 5% of all of Ally employees pay in long-term restricted stock and failed to consider positions and levels of authority on an individual basis, as called for by Treasury’s rule. In 2014, Treasury eliminated longterm restricted stock for Ally employees. Treasury has not established criteria for awarding an employee a pay raise or a cash salary exceeding $500,000. Such criteria is important to independently analyzing the basis for awarding pay raises or cash salaries greater than $500,000 and ensuring consistency in decision-making. Treasury’s documentation of its justification does not evidence independent analysis, but instead sets forth the company’s assertions and market data supplied by the company. Treasury has not established clear policies, procedures, and criteria for approving pay in excess of Treasury’s guidelines such as the 50th percentile, cash salaries greater than $500,000, or use of long term restricted stock. Treasury’s new procedures state that OSM may reduce pay, however OSM did not address any guidelines or criteria that it would consider in doing so. Treasury has not agreed to implement this important recommendation, but is reviewing its practices in light of SIGTARP’s recommendations. SIGTARP will monitor Treasury’s efforts to implement this recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. On July 8, 2013, the Financial Stability Oversight Council unanimously voted to designate AIG as systemically important. Partial In Process None TBD/NA Comments 108 X Full Implementation Status In order to protect taxpayers who invested TARP funds into AIG to the fullest extent possible, Treasury and the Federal Reserve should recommend to the Financial Stability Oversight Council that AIG be designated as a systemically important financial institution so that it receives the strongest level of Federal regulation. (CONTINUED) 107 Recommendation SIGTARP RECOMMENDATIONS TABLE 50 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM As a result of the findings of Treasury’s research and analysis into the causes of HAMP redefaults, and characteristics of redefaults, Treasury should modify aspects of HAMP and the other TARP housing programs in ways to reduce the number of redefaults. Treasury should require servicers to develop and use an “early warning system” to identify and reach out to homeowners that may be at risk of redefaulting on a HAMP mortgage modification, including providing or recommending counseling and other assistance and directing them to other TARP housing programs. In the letter Treasury already requires servicers to send to homeowners who have redefaulted on a HAMP modification about possible options to foreclosure, Treasury should require the servicers to include other available alternative assistance options under TARP such as the Hardest Hit Fund and HAMP Tier 2, so that homeowners can move forward with other alternatives, if appropriate, in a timely and fully informed manner. To the extent that a servicer does not follow Treasury’s rules in this area, Treasury should permanently withhold incentives from that servicer. Treasury and the Federal banking regulators should improve coordination when collaborating on current and future initiatives by (1) defining the roles of all participants at the outset of collaborative efforts by creating precise and directed governing documents (i.e., charters) that clearly address the responsibilities of each entity; and (2) jointly documenting processes and procedures, including flowcharts, risk management tools, and reporting systems to ensure that objectives are met. Each participant should sign off to demonstrate their understanding of, and agreement with, these procedures. To increase small-business lending by former TARP banks participating in SBLF, Treasury should work with the banks to establish new, achievable plans to increase lending going forward. 116 117 118 119 120 Full Implementation Status X X X X X X Continued on next page Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury now requires servicers to consider homeowners that redefaulted in HAMP Tier 1 for HAMP Tier 2 before any other loss mitigation action. Recently, Treasury created Streamline HAMP, which can be used to remodify HAMP Tier 1 or HAMP Tier 2 modifications that redefaulted or are at risk of redefault. Treasury does not, however, have a mechanism to require servicers to offer HHF assistance to homeowners that redefault in HAMP. Treasury should require servicers to include other available alternative assistance options under TARP such as the Hardest Hit Fund, as SIGTARP recommended. Although SIGTARP issued this recommendation on April 1, 2013, which would require servicers to contact homeowners who missed payments, Treasury has not required servicers to reach out to past due homeowners. Treasury refuses to make this part of HAMP rules, even though, after SIGTARP raised this concern, CFPB implemented two “early intervention” delinquency notice requirements at 36 and 45 days. Treasury should make this same rule in HAMP so that it can assess compliance and take action for non-compliance, such as withholding or clawing back HAMP incentives payments. Treasury took the following action in response to SIGTARP’s recommendation: First, Treasury doubled the amount of TARP funding for incentives to be paid to homeowners by adding a $5,000 “Pay for Performance” homeowner incentive for those that remain in HAMP through the 6th anniversary of their trial modification. While Treasury still allows servicers to apply this to the principal balance of their mortgage, rather than pay it directly to homeowners, Treasury began requiring servicers to recast (reamortization) of the loan to reduce the homeowners’ monthly payment after applying TARP payments to the principal balance. Second, Treasury now requires mortgage servicers to consider homeowners that redefaulted in HAMP Tier 1 for HAMP Tier 2 before any other loss mitigation action. Third, Treasury allows servicers to remodify loans at risk of redefault under HAMP Tier 1 with HAMP Tier 2. Recently, Treasury created Streamline HAMP, which can be used to remodify HAMP Tier 1 or HAMP Tier 2 modifications that redefaulted or are at risk of redefault. Treasury took the following action in response to SIGTARP’s recommendation: First, Treasury doubled the amount of TARP funding for incentives to be paid to homeowners by adding a $5,000 “Pay for Performance” homeowner incentive for those that remain in HAMP through the 6th anniversary of their trial modification. While Treasury still allows servicers to apply this to the principal balance of their mortgage, rather than pay it directly to homeowners, Treasury began requiring servicers to recast (reamortization) of the loan to reduce the homeowners’ monthly payment after applying TARP payments to the principal balance. Second, Treasury now requires mortgage servicers to consider homeowners that redefaulted in HAMP Tier 1 for HAMP Tier 2 before any other loss mitigation action. Third, Treasury allows servicers to remodify loans at risk of redefault under HAMP Tier 1 with HAMP Tier 2. Recently, Treasury created Streamline HAMP, which can be used to remodify HAMP Tier 1 or HAMP Tier 2 modifications that redefaulted or are at risk of redefault. Partial In Process None TBD/NA Comments Note: * Indicates that Treasury considers the recommendation closed and will take no further action. Treasury should conduct in-depth research and analysis to determine the causes of redefaults of HAMP permanent mortgage modifications and the characteristics of loans or the homeowner that may be more at risk for redefault. Treasury should require servicers to submit any additional information that Treasury needs to conduct this research and analysis. Treasury should make the results of this analysis public and issue findings based on this analysis, so that others can examine, build on, and learn from this research. (CONTINUED) 115 Recommendation SIGTARP RECOMMENDATIONS TABLE SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 51 In order to prevent confusion, promote transparency, and present taxpayers who funded TARP with clear and accurate reporting, when Treasury discusses the amount of TARP funds (or CPP funds) recovered or repaid, Treasury should not count the $2.1 billion in TARP investments that Treasury refinanced into the Small Business Lending Fund, which is outside of TARP. To ensure that homeowners in HAMP get sustainable relief from foreclosure, Treasury should research and analyze whether and to what extent the conduct of HAMP mortgage servicers may contribute to homeowners redefaulting on HAMP permanent mortgage modifications. To provide transparency and accountability, Treasury should publish its conclusions and determinations. Treasury should establish an achievable benchmark for a redefault rate on HAMP permanent mortgage modifications that represents acceptable program performance and publicly report against that benchmark. Treasury should publicly assess and report quarterly on the status of the ten largest HAMP servicers in meeting Treasury’s benchmark for an acceptable homeowner redefault rate on HAMP permanent mortgage modifications, indicate why any servicer fell short of the benchmark, require the servicer to make changes to reduce the number of homeowners who redefault in HAMP, and use enforcement remedies including withholding, permanently reducing, or clawing back incentive payments for any servicer that fails to comply in a timely manner. To protect the investment taxpayers made through TARP in community banks and to ensure that these banks continue to lend in their communities which is a goal of TARP’s Capital Purchase Program, Treasury should enforce its right to appoint directors for CPP institutions that have failed to pay six or more quarterly TARP dividend or interest payments. In enforcing its right to appoint directors to the board of CPP institutions that have failed to pay six or more quarterly dividend or interest payments, Treasury should prioritize appointing directors to the board of those CPP institutions that meet one or more of the following criteria: (1) rejected Treasury’s request to send officials to observe board meetings; (2) have failed to pay a large number of TARP dividend payments or that owe the largest amount of delinquent TARP dividends; or (3) is currently subject to an order from their Federal banking regulator, particularly orders related to the health or condition of the bank or its board of directors. In addition, Treasury should use information learned from Treasury officials that have observed the bank’s board meetings to assist in prioritizing its determination of banks to which Treasury should appoint directors. To protect the investment taxpayers made in TARP and to ensure that institutions continue to lend in low and moderate income communities which is the goal of TARP’s Community Development Capital Initiative, Treasury should enforce its right to appoint directors to CDCI institutions that have failed to pay eight or more TARP quarterly dividend (or interest) payments. 122 123 124 125 126 127 128 Full X X X X X X X X Continued on next page Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has made some progress implementing this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has made progress toward implementing this recommendation. In Treasury’s quarterly “MHA Servicer Assessment,” published in its October 2013 “Making Home Affordable Performance Report,” Treasury included a new servicer performance metric, assessing whether seven HAMP servicers complied with Treasury’s guidelines concerning homeowners’ HAMP modifications that servicers disqualified. SIGTARP looks forward to working with Treasury to fully implement this recommendation. Although Treasury has begun to research whether HAMP mortgage servicers contribute to HAMP redefaults by analyzing samples in its onsite compliance visits and by reviewing homeowner files, Treasury should do more to implement SIGTARP’s important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Partial In Process None TBD/NA Comments Implementation Status Note: * Indicates that Treasury considers the recommendation closed and will take no further action. To preserve the amount of capital former TARP banks participating in SBLF have to lend, the primary Federal banking regulators (the Federal Reserve, FDIC, or OCC) should not approve dividend distributions to common shareholders of former TARP banks that have not effectively increased small-business lending while in SBLF. (CONTINUED) 121 Recommendation SIGTARP RECOMMENDATIONS TABLE 52 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM To educate homeowners and help them avoid becoming victims to mortgage modification fraud, Treasury should prominently display all of the information containing in the Consumer Fraud Alert: “Tips For Avoiding Mortgage Modification Scams” created jointly by SIGTARP, Treasury, and the Consumer Financial Protection Bureau on the home page of websites related to HAMP, including Treasury’s TARP website and the “Making Home Affordable” website along with simple and direct information on SIGTARP’s mission and how to contact SIGTARP’s hotline if they suspect mortgage modification fraud. Treasury should determine how many homeowners who completed a HAMP application for which Treasury paid NeighborWorks under the MHA Outreach and Borrower Intake Project are accepted into a HAMP trial modification and whether that homeowner is granted a permanent HAMP modification. Treasury should continue to monitor these results on a monthly basis. Treasury should publicly report all of these results on a quarterly basis. Treasury should publicly report for each of the top 10 servicers how many homeowners who completed a HAMP application for which Treasury paid NeighborWorks were denied by the servicer for a HAMP trial modification. Treasury should use the results of SIGTARP-recommended monitoring and reporting on the MHA Outreach and Borrower Intake Project to determine whether there are areas of improvement. Treasury should post the original surveys received from CPP and CDCI institutions on how they used TARP funds for each year to the Treasury website. The original surveys and responses should not be subjected to any manipulations or changes to calculate survey results. Treasury should develop written repeatable operating procedures for submitting and receiving survey responses from CPP and CDCI recipients on how they used TARP funds. The procedures should include the functional roles and responsibilities and automated and manual process steps involved, such as documenting and determining the survey population, compiling and analyzing the responses, verifying and validating the data, resolving discrepancies, and posting the responses on the Treasury website. Treasury should take aggressive action to enforce its requests that all CPP institutions report annually on their use of TARP funds, and its requirement that all CDCI institutions report annually on their use of TARP funds. At a minimum, Treasury should draft a letter to each CPP and CDCI institution that fails to report each year, and follow up on that letter with the institution. Treasury should exercise its rights to compel reporting on use of TARP funds by CDCI institutions. Concerning the survey responses posted on Treasury’s website submitted by TARP recipients indicating how they and used CPP or CDCI funds, Treasury should fix all errors and/or deficiencies, which SIGTARP previously provided to Treasury, and submit documentation to SIGTARP confirming the correction/elimination of these errors. Treasury should perform a thorough review of any and all submissions by TARP recipients on their use of TARP funds prior to posting the surveys on the Treasury website, and follow up with the institution for any missing information or information that is inconsistent or has an obvious error. 130 131 132 133 134 135 136 137 138 X X Full Implementation Status X X X X X X X X Continued on next page Treasury has not agreed to implement this important recommendation Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has agreed to implement this important recommendation. Partial In Process None TBD/NA Comments Note: * Indicates that Treasury considers the recommendation closed and will take no further action. Treasury should increase the amount of the annual incentive payment paid to each homeowner who remains in HAMP. Treasury should require the mortgage servicer to apply the annual incentive payment earned by the homeowner to reduce the amount of money that the homeowner must pay to the servicer for the next month’s mortgage payment (or monthly payments if the incentive exceeds the monthly mortgage payment), rather than to reduce the outstanding principal balance of the mortgage. (CONTINUED) 129 Recommendation SIGTARP RECOMMENDATIONS TABLE SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 53 Treasury should ensure that mortgage servicers who contract with Treasury have sufficient staffing and other resources to review the number of homeowner HAMP applications submitted each month, plus additional applications to decrease any backlog of homeowners who applied in prior months without a decision. The Secretary of the Treasury should require OSM to maintain documentation of the substance of all OSM communications with TARP companies. The Secretary of the Treasury should require all Treasury employees to maintain documentation of all communications with TARP companies regarding compensation. The Secretary of the Treasury should require OSM to maintain documentation of OSM’s communications with Treasury officials regarding compensation at TARP companies. The Secretary of the Treasury should require OSM to use long-term restricted stock as part of each TARP company’s employee’s compensation package to ensure compensation is tied to both the employee’s and the company’s performance, and the full repayment of TARP funds. The Secretary of the Treasury should direct OSM to conduct an analysis, independent of company proposals and assertions, for an employee of a TARP exceptional assistance company to be paid a cash salary exceeding $500,000. The Secretary of the Treasury should direct OSM to document its independent analyses regarding the decision that a TARP exceptional assistance company employee be paid a cash salary exceeding $500,000 The Secretary of the Treasury should direct OSM to conduct an analysis, independent of company proposals and assertions, for an employee of a TARP exceptional assistance company to receive an increase in annual compensation. The Secretary of the Treasury should direct OSM to document its independent analyses regarding the decision that a TARP exceptional assistance company employee will receive an increase in annual compensation. The Secretary of the Treasury should direct OSM to conduct an analysis, independent of company proposals and assertions, for an employee of a TARP exceptional assistance company to be paid a cash salary that exceeds the market median cash salary for similar positions in similar companies. The Secretary of the Treasury should direct OSM to document its independent analyses regarding the decision that a TARP exceptional assistance company employee be paid a cash salary exceeding market medians. The Secretary of the Treasury should direct OSM to include in its written procedures whether it will target, for each Top 25 employee of a TARP exceptional assistance company, median total compensation for similar positions in similar companies. Treasury require mortgage servicers administering HAMP to designate a single point of responsibility at the transferring servicer and the new receiving servicer to ensure that submitted HAMP applications (whether complete or not), HAMP trial modifications, and HAMP permanent modifications transfer to the new mortgage servicer at the time the mortgage servicing is transferred. 140 141 142 143 144 145 146 147 148 149 150 151 152 Full X X X X X X X X X X X X X X Continued on next page Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. This past quarter, Treasury began including in their assessment of the top 7 HAMP servicers, a metric for the percentage of completed HAMP applications not processed within 30 days of receipt, establishing a benchmark of 98% compliance. The 7 mortgage servicers included in Treasury’s reporting accounted for approximately 87% of active TARP-funded HAMP modifications as of June 30, 2015. If Treasury finds that servicers are not timely reviewing homeowners HAMP applications, Treasury should take action to hold these servicers accountable, by ensuring that mortgage servicers who contract with Treasury have sufficient staffing and other resources to review the number of homeowner HAMP applications submitted, as SIGTARP recommended, and taking other enforcement action. Treasury has not agreed to implement this important recommendation Partial In Process None TBD/NA Comments Implementation Status Note: * Indicates that Treasury considers the recommendation closed and will take no further action. Treasury should publicly report on all CPP and CDCI institutions that have not submitted a survey response on their use of TARP funds for prior years and continue that reporting in future years. (CONTINUED) 139 Recommendation SIGTARP RECOMMENDATIONS TABLE 54 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Treasury should require that a new receiving servicer’s single point of responsibility employee be responsible for: (1) confirming receipt in writing of the HAMP information and documents from the transferring servicer at the time of transfer; (2) ensuring that the receiving servicer fully complies with all HAMP rules and Treasury reporting requirements related to mortgage servicing transfers; and (3) promptly informing homeowners that their HAMP information and documentation has been received, confirming their status in HAMP, and providing the name and contact information of the receiving servicer’s single point of responsibility. Treasury should increase its oversight of mortgage servicers to ensure that they are following all HAMP rules and Treasury reporting requirements related to mortgage servicing transfers on a timely basis, that they have designated a single point of responsibility for transfers, and that single point of responsibility is effectively fulfilling its responsibilities. Treasury should publicly report the results of its oversight in this area in its quarterly servicer assessment, and should assess fines and permanently withhold financial incentives for servicers not in compliance. Treasury should ensure that state housing finance agencies and all of their city or county/land bank/non-profit/for-profit partners have the resources, staffing, training, and knowledge, and are ready for, and can effectively handle the increase in contracting, demolition, and other blight elimination activities contemplated under HHF. Treasury should keep itself informed and gain insight of critical activities taking place under HHF blight elimination by knowing the identities of all who will participate in blight elimination activity under HHF or receive TARP funds including city or county/land bank/ non-profit/for profit partners and their subcontractors through required reporting by state HFAs to Treasury on an ongoing basis. Treasury should keep itself informed and gain insight of critical activities taking place under HHF blight elimination by requiring reporting by state HFAs on: (1) the neighborhoods selected for HHF blight elimination and the strategy for choosing that neighborhood; and (2) property address including zip codes for any property demolished or removed under HHF. Treasury should increase transparency by publicizing on its website: (1) a list of all city or county/land bank/non-profit/ for-profit partners that will participate in blight elimination activity under HHF on a state by state basis; (2) a list of addresses including zip code where a property has been demolished or removed under HHF on a city and state basis; (3) Treasury’s expected target outcomes by city and state; and (4) performance indicators to measure progress by city and state. 154 155 156 157 158 159 Full Implementation Status X X X X X X X Continued on next page Although Treasury is not requiring the state housing finance agencies to develop performance indicators, Michigan’s state housing finance agency created performance indicators and other state agencies have told SIGTARP that they are in the process of creating (or contracting for the creation of) performance indicators. Even though Treasury does not publish the information SIGTARP recommended, SIGTARP reports quarterly the list of partners who have entered into agreements with the cities/counties that are the applicant/recipients of the blight funds. Several partners publish lists of properties on their own websites as well. Treasury should implement SIGTARP’s important recommendation with a sense of urgency. See further discussion in Section 2. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. See further discussion in Section 2. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. However, SIGTARP has begun providing transparency by identifying the partners. See further discussion in Section 2. Treasury said it has implemented this recommendation or is in the process of doing so. SIGTARP urges Treasury to do so with a sense of urgency. See further discussion in Section 2. Treasury has said it is implementing this important recommendation. SIGTARP will monitor Treasury’s efforts to implement this recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Partial In Process None TBD/NA Comments Note: * Indicates that Treasury considers the recommendation closed and will take no further action. Treasury should require that a transferring servicer’s single point of responsibility employee be responsible for: (1) transferring all information and documents related to the homeowner and HAMP to the new servicer at the time of service transfer; (2) confirming receipt in writing of the HAMP information and documents from the new servicer; (3) ensuring that the transferring servicer retains all documents and information provided to the new servicer related to HAMP; (4) ensuring that the transferring servicer fully complies with all HAMP rules and Treasury reporting requirements related to mortgage servicing transfers; and (5) promptly informing homeowners in writing that their HAMP information and documents were transferred to the new servicer, the date of the transfer of HAMP information and documents, and the name and contact information of the original transferring servicer’s single point of responsibility. (CONTINUED) 153 Recommendation SIGTARP RECOMMENDATIONS TABLE SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 55 Treasury should engage in comprehensive planning to ensure that blight elimination under HHF progresses in the most effective way by, within 60 days, requiring state HFAs participating in blight elimination activities under TARP to develop performance indicators such as decreases in default rates or foreclosure filings, or increases in home values through home sales and annual tax assessments to measure progress towards Treasury’s target reduction in foreclosures and target increase in home values. Treasury should use its expertise and resources to help the state HFAs develop performance indicators. Treasury should require reporting by state HFAs on a periodic basis no less than bi-annually on chosen performance indicators and use that reporting to monitor which cities and states are on track to achieve successfully Treasury’s goal and to identify improvements to increase effectiveness. Treasury should require quarterly detailed accounting by state HFAs of how TARP funds are spent reimbursing local partners for blight elimination activities under HHF that lists actual TARP reimbursed expenditures for each local partner by each category of blight elimination activity, including demolition, acquisition, greening, maintenance, asbestos removal, engineering studies, environmental studies, or any other category of expenditures. Treasury should require state HFAs to develop a system of internal controls targeted specifically at blight elimination. Treasury should increase the effectiveness of oversight at both the Treasury and state HFA levels by (1) collecting all contracts and subcontracts for HHF blight elimination activities; and (2) requiring the state HFAs to collect all contracts and subcontracts for HHF blight elimination activities. In order to increase HAMP’s effectiveness at reaching all HAMP-eligible homeowners, Treasury should hold in-person homeowner outreach events in all major cities and high foreclosure cities within the 10 HAMP-underserved states of Alaska, Arkansas, Indiana, Iowa, Kansas, Michigan, North Dakota, Oklahoma, Tennessee, and Texas. Treasury should ensure that there are sufficient HUD-approved counselors who can help the number of homeowners who attend these events with HAMP applications. Treasury should hold additional and sustained public service campaign, and TARP-paid television and radio advertisements in all major cities and high foreclosure cities within the 10 HAMP-underserved states of Alaska, Arkansas, Indiana, Iowa, Kansas, Michigan, North Dakota, Oklahoma, Tennessee, and Texas, as soon as possible to ensure that homeowners have accurate and complete information about the program and to prevent homeowners from becoming victims of fraud schemes. 161 162 163 164 165 166 Full X X X X X X X Continued on next page Treasury has held no in person outreach events since SIGTARP raised this concern. Treasury has held no in person outreach events since SIGTARP raised this concern. While Treasury does not collect full contracts and subcontracts, SIGTARP has asked each state HFA to produce them directly to SIGTARP. Doing so leads to the state HFAs collecting this information, where they had not done so previously. Treasury said it has implemented this recommendation or is in the process of doing so. Treasury should implement SIGTARP’s important recommendation with a sense of urgency. See further discussion in Section 2. Treasury said it has implemented this recommendation or is in the process of doing so. In response to SIGTARP’s request, six states (Michigan, Ohio, Indiana, Alabama, South Carolina, and Illinois) provided to SIGTARP internal control documentation relating to HHF blight elimination. While this demonstrates a positive step, SIGTARP continues to evaluate the scope and effectiveness of the states’ internal controls. Treasury should implement SIGTARP’s important recommendation with a sense of urgency. See further discussion in Section 2. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. See further discussion in Section 2. SIGTARP raised this important issue for the first time in an April 2012 report on factors implementing implementation of HHF. Several state housing finance agencies are in the process of creating (or contracting for the creation of) performance indicators. Treasury said it has implemented this recommendation or is in the process of doing so. Treasury should implement SIGTARP’s important recommendation with a sense of urgency. See further discussion in Section 2. SIGTARP raised this important issue for the first time in an April 2012 report on factors implementing implementation of HHF. Although Treasury is not requiring the state housing finance agencies to develop performance indicators, Ohio’s, Illinois’s, and Michigan’s state housing finance agencies created performance indicators and other state agencies have told SIGTARP that they are in the process of creating (or contracting for the creation of) performance indicators. Still, Treasury should implement SIGTARP’s important recommendation with a sense of urgency. See further discussion in Section 2. Partial In Process None TBD/NA Comments Implementation Status Note: * Indicates that Treasury considers the recommendation closed and will take no further action. Treasury should engage in comprehensive planning to ensure that blight elimination under HHF progresses in the most effective way by, within 60 days, setting target outcomes for HHF blight elimination of how much Treasury expects blight elimination under TARP to increase home values and decrease foreclosures by city and state. Treasury can consult with the state HFAs as to set realistic target outcomes, but should not defer to state HFAs to define success. Treasury should share its target outcome with each state HFA. (CONTINUED) 160 Recommendation SIGTARP RECOMMENDATIONS TABLE 56 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM To reduce the likelihood of improper payments to ineligible homeowners and to deter fraud, waste, and abuse in TARP, Treasury should require that state housing finance agencies include in any homebuyer application for any Hardest Hit Fund down payment assistance program a certification to be signed by the homebuyer relating to income, first-time homebuyer status, primary residence status, and any other material requirements for program participation. The certification should specify that any false or fictitious statements concerning such requirements would be the basis for civil penalties and assessments under the False Claims Act, 31 U.S.C. §§ 3729-3733, the Program Fraud Civil Remedies Act, 31 U.S.C. §§ 3801-3812, and/or criminal penalties under 18 U.S.C. § 1001 or other Federal law. SIGTARP recommends the following certification be included in the application form: I acknowledge that knowingly failing to disclose material information to the [name of state housing finance agency], or making or causing to be made a false, fictitious, or fraudulent statement or representation of material fact in an application for use in determining eligibility for a payment under the U.S. Department of Treasury’s Hardest Hit Fund’s [name of down payment assistance program], constitutes a crime punishable under Federal law. I, therefore, certify, under penalty of perjury that all the information I have given on this form, and in any accompanying statements, is complete, true, and correct and I acknowledge that any material omission or false, fictitious, or fraudulent statement or representation or entry could be the basis for civil penalties and assessments under the False Claims Act, 31 U.S.C. §§ 3729-3733, the Program Fraud Civil Remedies Act, 31 U.S.C. §§ 3801-3812, and/or criminal penalties under 18 U.S.C. § 1001 or other Federal law. To reduce the risk of fraud, waste and abuse, and to facilitate effective oversight, Treasury should require state housing finance agencies to report quarterly to Treasury the names and addresses of all homebuyers participating in any Hardest Hit Fund funded down payment assistance program. To reduce the risk of waste and abuse, to facilitate effective oversight, and to protect Treasury’s right to the return of TARP funds where a homebuyer participating in any Hardest Hit Fund funded down payment assistance program sells the home prior to the expiration of the lien, Treasury should require that state housing finance agencies develop an effective process to check a homebuyer’s continued primary residency in the home prior to releasing the lien. Treasury should conduct effective oversight of that process including providing guidelines for that process in addition to conducting oversight through compliance. To prevent fraud, waste and abuse particularly through commingling and improper reporting, Treasury should require the participating state housing finance agencies to maintain down payment assistance funds and reporting under Hardest Hit Fund separate from other state down payment assistance programs, both at the state level and at the local city or county level. To prevent homeowners and homebuyers from becoming victims of fraud, and to arm the public with complete and accurate information, Treasury should sponsor outreach events in each county participating in the Hardest Hit Fund down payment assistance and conduct a media outreach campaign, consisting of, among other things, television, out-ofhome (such as billboards and bus and shuttle stop advertisements), radio, and print. 168 169 170 171 172 Full Implementation Status X X X X X X Continued on next page Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury told SIGTARP it notified the states approved to provide HHF down payment assistance to homebuyers to include standard anti-fraud text in the Dodd-Frank certifications signed by homebuyers. Some states have included the language SIGTARP recommended, with some modifications that still meet SIGTARP’s intent. Treasury should ensure SIGTARP’s recommendation is implemented in full. Treasury has not agreed to implement this important recommendation. Partial In Process None TBD/NA Comments Note: * Indicates that Treasury considers the recommendation closed and will take no further action. Treasury should identify improper payment risks, and fraud, waste, and abuse risks, related to Hardest Hit Fund down payment assistance and should design an effective Treasury oversight plan with program requirements and guidelines, in addition to compliance efforts to mitigate those risks. In addition to the potential benefits of these programs that Treasury already analyzed, Treasury should analyze the risks associated with down payment assistance programs. (CONTINUED) 167 Recommendation SIGTARP RECOMMENDATIONS TABLE SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 57 To ensure that any TARP Hardest Hit Fund down payment assistance successfully prevents foreclosures as required by EESA, at the start of the program, Treasury should require participating state housing finance agencies to develop performance indicators that measure progress towards Treasury’s quantified target outcomes. Treasury should use its expertise and resources to help the state housing finance agencies develop performance indicators. Treasury should require that state housing finance agencies participating in Hardest Hit Fund down payment assistance report, on a periodic basis no less than every six months, on performance indicators. Treasury should use that reporting to monitor which cites/ counties and states are on track to achieve Treasury’s target outcomes. Treasury should monitor this information and use it to determine whether to continue the TARP assistance past the pilot stage, whether to expand the assistance to other cites/counties or states, and to identify ways to improve the effectiveness of HHF down payment assistance. Treasury should ensure that state housing finance agencies participating in the Hardest Hit Fund down payment assistance have the resources, staffing, training, and knowledge, and that they are ready for and can effectively handle the expected number of homebuyer applications and other required work. To improve the effectiveness of the Hardest Hit Fund Florida on an urgent basis, and to ensure that Florida homeowners have the same chance of Hardest Hit Fund assistance as homeowners in other HHF states, Treasury should improve the homeowner admission rate in HHF Florida to a targeted level that would bring it closer to the average homeowner admission rate of the other HHF states. Treasury should set numeric targets that HHF Florida must meet each quarter to reach the targeted homeowner admission rate and include those targets in an action memorandum to Florida’s housing finance agency. To improve the effectiveness of the Hardest Hit Fund in all states on an urgent basis, Treasury should form a HHF performance committee to meet each quarter to assess performance by each state housing finance agency in comparison to other state HHF programs, identify obstacles and risks, and develop strategies to mitigate those obstacles and risks. Treasury should memorialize the work of that committee through meeting minutes, and report on those obstacles and risks, as well as mitigation strategies to the Treasury Deputy Secretary twice a year. To improve the effectiveness of the Hardest Hit Fund Florida in reaching homeowners in Florida on an urgent basis, Treasury should, within 60 days, reassess eligibility requirements of each HHF Florida program to ensure that programs target the typical Florida homeowner, keep only those requirements that are absolutely necessary, and eliminate those that are not. Treasury should memorialize the findings of this reassessment. 174 175 176 177 178 179 Full X X X X X X X Continued on next page Treasury said it has implemented this recommendation or is in the process of doing so. SIGTARP urges Treasury to do so with a sense of urgency. See further discussion in Section 2. Treasury provided information indicating that Michigan developed performance indicators and that Ohio, Indiana, and Illinois are starting to assess and analyze the impact of HHF blight elimination activities on reducing and preventing foreclosures. Treasury said it has implemented this recommendation or is in the process of doing so. Treasury should implement SIGTARP’s important recommendation with a sense of urgency. See further discussion in Section 2. Treasury has not agreed to -- but should -- implement this important recommendation with a sense of urgency. See further discussion in Section 2. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Treasury has not agreed to implement this important recommendation. Partial In Process None TBD/NA Comments Implementation Status Note: * Indicates that Treasury considers the recommendation closed and will take no further action. To ensure that any TARP Hardest Hit Fund down payment assistance successfully prevents foreclosures as required by EESA, at the start of the program, Treasury should set target outcomes quantifying expected results from this use of these TARP funds. Treasury can consult with each participating state housing finance agency to set realistic target outcomes, but should not defer to state housing finance agencies to define success. Treasury should share its target outcome with each participating state housing finance agencies. (CONTINUED) 173 Recommendation SIGTARP RECOMMENDATIONS TABLE 58 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM To give Treasury insight into areas to improve the effectiveness of the Hardest Hit Fund on an urgent basis, Treasury should require each state housing finance agency to report county-level data for all HHF programs and individual state HHF program on: the number of homeowners who have applied for HHF, the number of homeowners denied, the number of homeowners who withdrew their application after being approved for assistance, the number of homeowners who the state housing finance agency withdrew their application, the number of homeowners whose applications are in process, and the median number of days to process homeowner applications. Treasury should require this reporting on a quarterly and cumulative basis and post this information on its website for transparency and accountability. To improve the effectiveness of the Hardest Hit Fund Florida on an urgent basis, and ensure that homeowners throughout Florida have the same chance of HHF assistance as homeowners in other counties within the state, Treasury should assess whether HHF Florida is operating in the most effective manner in each county. This should include, at a minimum, Treasury analyzing, within 60 days, which Florida counties have the lowest homeowner admission rates, the highest homeowner denial rates, the highest rate of homeowner applications withdrawn by an advisor agent for Florida’s housing finance agency, and the longest application processing times, Treasury setting targets and milestones for improvement in an action memorandum to Florida’s housing finance agency. Treasury program staff should, within six months, visit with advisor agents of Florida’s housing finance agency in counties hit the hardest but where HHF Florida is least effective, not for a compliance review, but to get an understanding of eligibility requirements that may be too strict to target the typical Florida homeowner seeking HHF assistance, and the challenges and obstacles the advisor agents face in making a decision to deny or withdraw a homeowner. To give Treasury insight into areas to improve the effectiveness of the Hardest Hit Fund on an urgent basis, Treasury should require that state housing finance agencies report separately the number of homeowners who withdrew their HHF application from the number of homeowners whose HHF application was withdrawn by the state housing finance agency. Treasury should require that reporting on a quarterly and cumulative basis and post that reporting on its website for transparency and accountability. To improve the effectiveness of the Hardest Hit Fund on an urgent basis, Treasury should reduce to a targeted level the length of time to process a senior citizen’s application and give assistance in the Hardest Hit Fund Florida’s senior citizen program known as ELMORE. Florida’s housing finance agency should view a targeted length of time to process an application under ELMORE not as an excuse to deny a homeowner, but instead as a target for their own improvement in helping homeowners make it through the approval process. Treasury should set numeric targets that HHF Florida must meet each quarter to reach the targeted processing time, and include those targets in an action memorandum to Florida’s housing finance agency, and measure progress quarterly. 181 182 183 184 Full Implementation Status X X X X X Continued on next page Treasury said it has implemented this recommendation or is in the process of doing so. SIGTARP urges Treasury to do so with a sense of urgency. See further discussion in Section 2. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. See further discussion in Section 2. Treasury said it has implemented this recommendation or is in the process of doing so. SIGTARP urges Treasury to do so with a sense of urgency. See further discussion in Section 2. Treasury said it has implemented this recommendation or is in the process of doing so. SIGTARP urges Treasury to do so with a sense of urgency. See further discussion in Section 2. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. See further discussion in Section 2. Partial In Process None TBD/NA Comments Note: * Indicates that Treasury considers the recommendation closed and will take no further action. To give Treasury insight into areas to improve the effectiveness of the Hardest Hit Fund on an urgent basis, Treasury should require all participating state housing finance agencies to report on an overall state HHF level as well as individual HHF program level: the reasons why homeowners were denied assistance along with the corresponding number of homeowners denied for that reason. Treasury should require this reporting on a quarterly and cumulative basis and post that information on its website for transparency and accountability. (CONTINUED) 180 Recommendation SIGTARP RECOMMENDATIONS TABLE SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 59 To improve the effectiveness of the Hardest Hit Fund Florida on an urgent basis, Treasury should preclude Florida’s housing finance agency from withdrawing a senior citizen’s application to the HHF program known as ELMORE based on homeowner nonresponsiveness unless Florida’s Department of Elderly Affairs has stated in writing that it has done all it can to help the homeowner complete the application and find the required documents. To identify obstacles to the effectiveness of the Hardest Hit Fund Florida on an urgent basis, Treasury should increase its contact and communication with Florida homeowners, particularly those who have gone through HHF Florida’s application process by: (1) within 90 days, Treasury begin communications with Florida homeowners who withdrew their application or had their application withdrawn to understand the reasons why; (2) inviting homeowner advocacy groups representing homeowners who have applied for HHF to an annual summit with Treasury officials similar to Treasury’s servicer summit; (3) holding targeted Treasury-sponsored outreach events, for example, at Florida senior citizen centers, and in areas of high underwater Florida homeowners with limited participation in the principal reduction program; and (4) having the new HHF performance committee review and discuss homeowner complaints about HHF Florida at each meeting. To ensure that HHF Florida is effective and ensure that homeowners throughout Florida have the same chance of HHF assistance as homeowners in other counties within the state, Treasury should hold HHF Florida accountable to maintaining its improvement in homeowner denial rates, by setting a targeted homeowner denial rate that keeps HHF Florida in line with the national average for HHF. Treasury should provide that targeted rate in an action memorandum to Florida’s housing finance agency and each quarter ensure that it meets that target. To improve the efficiency of the Hardest Hit Fund Florida on an urgent basis, Treasury should reduce the length of time HHF Florida takes to process an application from the median of 167 days to a targeted length of time. Treasury should provide that target in an action memorandum to Florida’s housing finance agency and each quarter measure progress against that target. To improve the effectiveness of the Hardest Hit Fund Florida on an urgent basis, Treasury should reduce the rate of homeowner applications withdrawn by the state housing finance agency to a targeted level. Treasury should provide that target in an action memorandum to Florida’s housing finance agency and each quarter measure progress against that target. To improve the effectiveness and efficiency of the Hardest Hit Fund Florida on an urgent basis, Treasury should, within 90 days, determine to either convert the Hardest Hit Fund Pilot Program known as the Modification Enabling Project to a full program or close it and put the funds to better use in existing HHF Florida programs. 186 187 188 189 190 191 Full X X X X X X X Continued on next page Treasury said it has implemented this recommendation or is in the process of doing so. SIGTARP urges Treasury to do so with a sense of urgency. See further discussion in Section 2. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. See further discussion in Section 2. Treasury said it has implemented this recommendation or is in the process of doing so. SIGTARP urges Treasury to do so with a sense of urgency. See further discussion in Section 2. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. See further discussion in Section 2. Treasury said it has implemented this recommendation or is in the process of doing so. SIGTARP urges Treasury to do so with a sense of urgency. See further discussion in Section 2. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. See further discussion in Section 2. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. See further discussion in Section 2. Partial In Process None TBD/NA Comments Implementation Status Note: * Indicates that Treasury considers the recommendation closed and will take no further action. To improve the effectiveness of the Hardest Hit Fund Florida on an urgent basis, including the median 280 days to process a homeowner’s application and the fact that 46% of applications have been withdrawn, Treasury should identify with more detail the obstacle to senior citizens getting assistance from the Hardest Hit Fund Florida’s program known as ELMORE by determining which documents senior citizens are having trouble providing. To assist in identifying these documents, Treasury should, within 60 days, separately meet with Florida’s Department of Elderly Affairs, and advisor agencies for Florida’s housing finance agency in targeted counties with low ELMORE participation in comparison to the number of senior citizens in those counties with reverse mortgages. After identifying the documents that are causing obstacles to homeowner participation, Treasury should determine whether those documents are essential for HHF Florida to provide assistance, and mitigate that obstacle by further reducing required documents (beyond what Treasury and Florida’s housing finance agency have already reduced) to only those documents that are essential. (CONTINUED) 185 Recommendation SIGTARP RECOMMENDATIONS TABLE 60 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM To prevent fraud, waste, and abuse in the Hardest Hit Fund and non-compliance with the Dodd-Frank Act, Treasury should monitor applicants (and existing recipients) for subsequent mortgage-related convictions that would disqualify the homeowner from receiving HHF funds (or additional HHF funds). If an applicant has been arrested but not yet convicted of a crime that falls within the Dodd-Frank Act exclusion, Treasury should ensure that the state housing finance agency checks to see if the applicant (or existing recipient) has been convicted as a final underwriting step prior to releasing any funds (or further funds) to the homeowner. To prevent fraud, waste, and abuse in the Hardest Hit Fund, Treasury should ensure that state housing finance agencies conduct regular criminal history background checks on staff or contractors who are paid, either directly or indirectly, with HHF funds by searching federal, state, and county databases. To prevent fraud, waste, and abuse in the Hardest Hit Fund, Treasury should conduct due diligence by searching public records for an applicant’s conviction for non-mortgage related crimes of dishonesty (such as embezzlement, forgery, bank fraud, welfare fraud, unemployment compensation fraud, tax fraud, money laundering, and fast statements), and, if found, conduct further due diligence, including looking into potential misrepresentations of assets and income based on the nature of the crimes. To increase nationwide stakeholder communication and address obstacles on an urgent need basis, Treasury should hold its servicer summit with the 19 Hardest Hit Fund states on a bi-annual instead of an annual basis to keep proactively apprised of the obstacles and limitations the HHF states are experiencing, and to make timely interventions to better the performance and increase effectiveness in every HHF state in getting assistance to homeowners. Treasury should immediately direct state housing finance agencies that they should not allow the Hardest Hit Fund to be used strategically to select lived-in residences for demolition, and should instead be used solely to select zombie properties for demolition. Treasury should take all oversight action necessary to ensure that the Hardest Hit Fund is not used for lived-in residences, including requiring state housing finance agencies to adopt and implement effective due diligence and other controls and procedures to ensure the properties selected are zombie properties. Treasury should claw back all Hardest Hit Fund monies used for lived-in residences that were selected for the blight elimination program, including TARP payments of $246,490 for 18 lived-in residences in the neighborhood of Area 55, in Evansville, Indiana, and recycle those funds to demolish abandoned zombie properties. In order to ensure that Hardest Hit Funds are used only for foreclosure prevention activities as required by the Emergency Economic Stabilization Act, SIGTARP recommends that Treasury ensure, on a continuous basis, that state housing finance agencies participating in HHF do not use TARP funds to pay state pension obligations that are unrelated to employees who work on HHF, including but not limited to: (1) as part of Treasury’s on-site compliance review process, (2) review of all financial reporting from state HFAs to Treasury, and (3) biannual surveys asking each state housing finance agency to certify that no TARP funds were used for state pension obligations. 193 194 195 196 197 198 199 200 X Full Note: * Indicates that Treasury considers the recommendation closed and will take no further action. To prevent fraud, waste, and abuse in the Hardest Hit Fund and non-compliance with the Dodd-Frank Act, Treasury should ensure HHF funds do not go to felons convicted of mortgage-related crimes by searching or requiring state housing finance agencies to search federal, state, and county databases for an applicant homeowner’s criminal history, prior to the release of any funds to the applicant, given the fact that convictions are public records. Treasury should make efforts to gain access to other criminal databases. (CONTINUED) 192 Recommendation SIGTARP RECOMMENDATIONS TABLE Implementation Status X X X X X X X X Treasury said it has implemented this recommendation or is in the process of doing so. SIGTARP urges Treasury to do so with a sense of urgency. See further discussion in Section 2. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. See further discussion in Section 2. Treasury agreed to implement this important recommendation. SIGTARP urges Treasury to do so with a sense of urgency. See further discussion in Section 2. Treasury told SIGTARP that it told state HFAs that properties should not be legally occupied at the time of review or approval for blight elimination activity for any requests submitted on or after January 15, 2016, and to reflect that guidance in program guidelines. See further discussion in Section 2. Treasury said it has implemented this recommendation or is in the process of doing so. SIGTARP urges Treasury to do so with a sense of urgency. See further discussion in Section 2. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. See further discussion in Section 2. Treasury said it has implemented this recommendation or is in the process of doing so. SIGTARP urges Treasury to do so with a sense of urgency. See further discussion in Section 2. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. See further discussion in Section 2. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. See further discussion in Section 2. Partial In Process None TBD/NA Comments SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 61 62 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM SECT IO N 3 NON-BANK PRIVATE MORTGAGE SERVICERS WHO HAVE ALREADY RECEIVED MORE THAN $1 BILLION FROM TREASURY ARE INCREASING THEIR PARTICIPATION IN HAMP, WHICH RAISES RISKS TO HOMEOWNERS AND THE NEED FOR SIGNIFICANT OVERSIGHT 64 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 INTRODUCTION Mortgage servicers are the single largest factor in determining whether homeowners applying for, or participating in, TARP’s signature foreclosure prevention program HAMP are given a fair shot, and whether the program runs effectively and efficiently. This is because Treasury has contracted with mortgage servicers to play a predominant role in HAMP, by making the day-to-day decisions related to HAMP that have enormous implications for homeowners seeking relief. Mortgage servicers decide whether homeowners are eligible for HAMP, whether homeowners get a trial run in the program, and whether that trial run should result in the servicer permanently modifying the homeowners’ mortgages. Mortgage servicers decide how the mortgage will be modified, such as whether a homeowner will get a lower interest rate, and if so, what rate. Mortgage servicers decide how much the homeowner will have to pay each month. Mortgage servicers also apply payments they receive, and they make decisions on whether a homeowner should be terminated from the program.1 Because of this outsized role, all mortgage servicers are required to comply with HAMP rules, and federal laws. Following HAMP rules and federal laws is necessary to protect homeowners from harm. Non-banks who service mortgages have increased their participation in HAMP, and now play a larger role in HAMP than bank servicers, but that was not always the case.2 By the end of 2010, the first full year of the program, six of the ten largest servicers in HAMP were large banks. These large banks serviced mortgages for more than 65% of all homeowners in HAMP. That figure does not even include smaller banks servicing mortgages for homeowners in HAMP.3 Non-banks now service 56% of all homeowners’ mortgages in HAMP, and large banks are only responsible for servicing 39% of all HAMP mortgages. Non-banks have been increasing their role in HAMP. Last year alone, non-banks serviced 63% of all mortgages for homeowners new to HAMP.4,i HAMP and its related programs have become a lucrative business and reliable source of income for non-bank servicers. Treasury pays mortgage servicers for every homeowner who receives a permanent mortgage modification in HAMP. Nonbank mortgage servicers have received $1.1 billion in Federal TARP dollars from Treasury through the HAMP program.5 As non-bank servicers increase their role in HAMP, the risk to homeowners has also increased. Non-bank servicers have less federal regulation than banks that service mortgages.6 Some of the largest non-bank servicers have already been found to have violated laws in their treatment of homeowners, and have been the subject of enforcement actions by the federal or a state government. Some of the largest non-bank servicers also have been found to have violated HAMP’s rules in their treatment of homeowners. This increased risk to homeowners must be met with increased oversight to ensure that homeowners are treated fairly, and that HAMP and its related programs are effective and efficient. i Unless otherwise noted, all figures presented in the report are as of 12/31/2015. Due to timing differences, numbers presented in this report may not match the latest programmatic data in other parts of the report. 65 66 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM NON-BANK MORTGAGE SERVICERS HAVE LESS FEDERAL OVERSIGHT THAN BANK SERVICERS Homeowners whose mortgages are serviced by banks have additional protection through oversight of the banks by bank examiners, who do not have oversight over non-bank servicers. The bank servicers in HAMP are regulated by, typically, at least two federal bank examiners, including the Federal Reserve (“Federal Reserve”), Office of the Comptroller of the Currency (“OCC”), or Federal Deposit Insurance Corporation (“FDIC”). Banks servicers in HAMP are also subject to oversight by state banking regulators.7 Non-bank servicers are not regulated by state or federal bank examiners. With a relatively new Consumer Financial Protection Bureau (“CFPB”), the oversight of non-bank servicers is still developing.8 NON-BANK MORTGAGE SERVICERS HAVE ALREADY RECEIVED MORE THAN $1 BILLION IN FEDERAL DOLLARS FROM TREASURY Non-bank mortgage servicers have already received more than $1 billion in Federal dollars from Treasury for their role in HAMP, and some have received more if they are also the investor in the mortgage. Treasury has paid $2.9 billion in TARP dollars to those who own the mortgages (investors), sending that money through the servicer.9 When a servicer is also the investor in the mortgage, the servicer keeps those associated TARP dollars. If the servicer is not the investor, the servicer will collect the federal dollars from Treasury and remit them to the investor.10 TABLE 3.1 TARP DOLLARS RECEIVED BY NON-BANK SERVICERS AND INVESTORS FROM TREASURY Total Payments to non-bank servicers* $2,863,766,860 $1,115,848,487 $3,979,615,348 Investors Servicer Total Payments to Investors and Servicers to Date $1,589,011,733 $462,442,541 $2,051,454,275 Select Portfolio Servicing, Inc. 357,704,677 192,227,164 549,931,841 Nationstar Mortgage LLC 351,476,797 137,103,352 488,580,149 Homeward Residential, Inc. 133,893,684 94,837,607 228,731,291 Bayview Loan Servicing LLC 88,723,650 36,223,930 124,947,580 Ditech Financial LLC 57,787,189 20,204,737 77,991,926 Specialized Loan Servicing LLC 51,291,653 30,550,264 81,841,916 Saxon Mortgage Services Inc 41,738,413 39,413,598 81,152,011 Name of Institution Ocwen Loan Servicing, LLC Continued on next page QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 TARP DOLLARS RECEIVED BY NON-BANK SERVICERS AND INVESTORS FROM TREASURY (CONTINUED) Investors Servicer Total Payments to Investors and Servicers to Date $43,169,659 $28,033,499 $71,203,158 Litton Loan Servicing, LP 35,353,126 27,530,414 62,883,540 PennyMac Loan Services, LLC 36,311,330 13,256,088 49,567,419 Fay Servicing, LLC 17,722,829 4,691,698 22,414,526 Rushmore Loan Management Services LLC 13,077,119 2,778,700 15,855,819 Residential Credit Solutions, Inc. 10,549,686 4,467,454 15,017,140 Servis One, Inc., dba BSI Financial Services, Inc. 8,962,834 3,173,973 12,136,807 New Penn Financial, LLC dba Shellpoint Mortgage Servicing 6,361,139 1,804,911 8,166,051 HomEqServicing 3,036,319 5,272,500 8,308,819 Caliber Home Loans, Inc. 3,744,759 2,915,445 6,660,204 21st Mortgage Corporation 3,032,057 626,526 3,658,582 Selene Finance, LP 1,228,842 1,822,494 3,051,336 MorEquity, Inc. 2,305,003 1,977,321 4,282,324 Resurgent Capital Services L.P. Name of Institution Carrington Mortgage Services, LLC 1,696,731 797,665 2,494,395 Marix Servicing LLC 970,197 839,633 1,809,830 RoundPoint Mortgage Servicing Corporation 981,805 642,938 1,624,743 Franklin Credit Management Corporation 658,318 743,024 1,401,341 Gregory Funding, LLC 777,494 136,752 914,246 Clearspring Loan Services, Inc. 542,234 398,564 940,798 Quantum Servicing Corporation 332,061 179,984 512,046 Seneca Mortgage Servicing LLC 315,899 172,491 488,390 Statebridge Company, LLC 249,889 105,392 355,281 OwnersChoice Funding, Incorporated 214,240 113,529 327,770 PHH Mortgage Corporation 133,993 70,400 204,392 FCI Lender Services, Inc. 139,095 53,612 192,707 SN Servicing Corporation 98,141 40,982 139,123 Idaho Housing and Finance Association 34,821 33,025 67,847 Lenderlive Network, Inc 69,770 8,000 77,770 NJ Housing & Mortgage Finance — 32,888 32,888 Kondaur Capital Corporation 24,747 26,239 50,986 Home Servicing, LLC 29,572 14,784 44,356 27,844 27,844 Aurora Financial Group, Inc Continued on next page 67 68 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TARP DOLLARS RECEIVED BY NON-BANK SERVICERS AND INVESTORS FROM TREASURY (CONTINUED) Investors Servicer Total Payments to Investors and Servicers to Date $12,610 $8,036 $20,645 James B. Nutter and Company — 17,124 17,124 Marsh Associates, Inc. — 10,649 10,649 Quicken Loans, Inc. — 7,000 7,000 Plaza Home Mortgage, Inc — 3,000 3,000 Mortgage Investors Group — 2,917 2,917 2,516 2,800 5,316 — 3,000 3,000 232 1,000 1,232 — 1,000 1,000 Name of Institution Allstate Mortgage Loans & Investments, Inc California Housing Finance Agency First Mortgage Corporation Land/Home Financial Services, Inc. Georgia Housing & Finance Authority DBA State Home Mortgage *Includes servicer and investor incentive payments. Source: Treasury, TARP Housing Transactions Reports – MHA Incentive Payments, through December 2015, www.treasury.gov/ initiatives/financial-stability/reports/Pages/TARP-Housing-Transaction-Reports.aspx, accessed on 4/7/2016. The increase in non-bank servicers’ role in HAMP has, not surprisingly, led to an increase in the Federal dollars they are receiving. Of all of the Federal dollars Treasury paid to non-bank servicers, 31% of that ($1.2 billion) was paid in 2015.ii ii Figures include only servicer and investor incentives payments, homeowner incentive payments are not included. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 NON-BANK SERVICERS NOW SERVICE MORTGAGES FOR 56% OF ALL HOMEOWNERS IN HAMP, WHICH INCLUDES SERVICING MORTGAGES FOR 63% OF HOMEOWNERS NEW TO HAMP LAST YEAR A significant number of HAMP homeowner mortgages in HAMP, or eligible for HAMP, have been transferred from banks to less-regulated non-bank servicers. Non-bank servicers now have a significantly larger role in HAMP than they have in years past. See Figure 3.1 below for details. FIGURE 3.1 NON-BANK PARTICIPATION IN HAMP OVER TIME Share of HAMP Modifications as of 12/31/2010 Share of HAMP Modifications as of 12/31/2015 13% 44% 22% 65% 56% Large Banks Banks Large Non-Banks Non-Banks Bank and Non-Bank Note: Treasury’s December 2010 reporting of HAMP activity by servicer only included the top 15 individual servicers and grouped all other servicer activity into “Other” categories, without dividing it by bank or non-bank. Sources: Treasury, Making Home Affordable Program Performance Report – December 2010, January 31, 2011, www.treasury.gov/initiatives/financial-stability/reports/Pages/Making-Home-Affordable-Program-Performance-Report.aspx, accessed 3/31/2016; SIGTARP analysis of Treasury HAMP data as of 12/31/2015. As a result non-bank servicers now administer HAMP for approximately 56% of all homeowners in HAMP. Within the last year, this shift has escalated. A total of 63% of all homeowners new to HAMP in 2015 have their mortgage serviced by a non-bank. Since 2010, banks have significantly decreased their role in HAMP. As shown in Table 3.2, twenty-one of the largest 25 HAMP servicing transfers were transfers to non-banks.11 Additionally, as discussed in SIGTARP’s January 2016 Quarterly Report to Congress, as of December 31, 2015, a total of 259,193 homeowners with HAMP related modifications saw their servicing transferred, 81% of those homeowners (209,059) saw their mortgage transferred to a non-bank servicer. 69 70 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 3.2 TOP 25 SERVICING TRANSFERS, AS OF 12/31/2015 Seller Buyer Transfer Period HAMP Trial and Permanent Modifications Transferred Servicing Transfers to Non-Banks American Home Mortgage Servicing, Inc. Ocwen Loan Servicing, LLC 2013 27,665 GMAC Mortgage, LLC Ocwen Loan Servicing, LLC 2013-2014 24,323 OneWest Bank Ocwen Loan Servicing, LLC 2013-2014 18,346 Saxon Mortgage Services, Inc. Ocwen Loan Servicing, LLC 2010-2012 17,254 Bank of America, N.A. Nationstar Mortgage LLC 2010-2016 15,679 Bank of America, N.A. Select Portfolio Servicing, Inc. 2010-2016 11,634 Litton Loan Servicing, LP Ocwen Loan Servicing, LLC 2011-2013 11,592 JPMorgan Chase Bank, N.A. Ocwen Loan Servicing, LLC 2012-2014 10,950 Aurora Loan Services, LLC Nationstar Mortgage LLC 2012 10,818 JPMorgan Chase Bank, N.A. Select Portfolio Servicing, Inc. 2013-2016 9,673 HomEqServicing Ocwen Loan Servicing, LLC 2010 5,969 Ocwen Loan Servicing, LLC Select Portfolio Servicing, Inc. 2014-2016 5,430 Bank of America, N.A. Specialized Loan Servicing, LLC 2010-2015 4,504 CitiMortgage, Inc. Bayview Loan Servicing, LLC 2011-2015 3,868 JPMorgan Chase Bank, N.A. Bayview Loan Servicing, LLC 2011-2015 2,871 CitiMortgage, Inc. Rushmore Loan Management Services LLC 2012-2015 2,368 CitiMortgage, Inc. Select Portfolio Servicing, Inc. 2014-2015 2,038 Wells Fargo Bank, N.A. Bayview Loan Servicing, LLC 2010-2015 1,984 Bank of America, N.A. Bayview Loan Servicing, LLC 2011-2016 1,946 Wells Fargo Bank, N.A. Specialized Loan Servicing, LLC 2010-2015 1,417 Bank of America, N.A. Selene Finance, LP 2014-2015 1,414 Servicing Transfers to Banks Wilshire Credit Corporation Bank of America, National Association 2010 8,938 EMC Mortgage Corporation JPMorgan Chase Bank, N.A. 2011 7,343 Home Loan Services, Inc. Bank of America, National Association 2010 4,327 Specialized Loan Servicing, LLC Bank of America, National Association 2012-2015 1,579 Note: Includes non-GSE HAMP and FHA HAMP trial and permanent modifications transferred. Source: SIGTARP analysis of Treasury’s HAMP Servicing Transfers data. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 As banks play a declining role in HAMP and related programs, a handful of large non-bank servicers have significantly increased their role in HAMP. Ocwen, Nationstar, and SPS have significantly increased their role in HAMP as homeowners saw their mortgage servicing transferred to these non-banks. More than half of all homeowners in HAMP whose loans were transferred saw their mortgage transferred to two large non-bank servicers. Ocwen received 117,226 HAMP transfers (45% of all HAMP transfers), Nationstar received 31,037 HAMP transfers (12% of all HAMP transfers), and SPS received 30,658 HAMP transfers (12% of all HAMP transfers).12 INCREASED RISK TO HOMEOWNERS Homeowners who are harmed when their TARP paperwork is lost in the shuffle of a mortgage transfer As SIGTARP has reported, many homeowners were harmed when mortgage servicers did not follow HAMP’s rules in transferring their mortgage to another servicer.iii Delays, omissions, or miscommunications between current servicers and new servicers during the transfer can seriously delay, deny, or decrease relief provided to HAMP-eligible homeowners. For struggling homeowners seeking or receiving temporary or permanent assistance under HAMP, the harmful effects of their HAMP documentation getting lost in the shuffle could be particularly drastic. Homeowners’ applications for HAMP relief may be “lost,” delaying the determination of whether they get relief, all while their financial hardships continue. For those in a HAMP trial or permanent modification, their lower mortgage payment may not be honored, or payments may be misapplied due to missing paperwork or miscoding of HAMP data. This could result in mortgages reverting to the original terms that they previously could not afford, or accruing late fees or interest that they also cannot afford. A homeowner may erroneously be deemed delinquent or in default, which may lead to foreclosure proceedings even though the homeowner is current on their HAMP-modified mortgage payments. SIGTARP reported in October 2014, that there were significant issues with non-bank servicers Ocwen (the largest HAMP servicer), and Nationstar (the 4th largest HAMP servicer) complying with HAMP’s rules on transferring mortgages to another servicer.13 Additionally, CFPB found that both Ocwen and another large non-bank HAMP servicer, Green Tree Servicing, LLC (now Ditech Financial, LLC (“Ditech”)) failed to honor modifications for mortgages that they received after a transfer.14 Risk to homeowners when other HAMP rules are not followed Treasury has also found that several non-bank servicers violated HAMP rules – rules designed to protect struggling homeowners. Treasury found in both iii See SIGTARP January 29, 2014 special report, “Homeowners Can Get Lost In The Shuffle And Suffer Harm When Their Servicer Transfers Their Mortgage But Not The HAMP Application or Modification.” at: www.sigtarp.gov/Quarterly%20Reports/ October_29_2014_Report_to_Congress.pdf. 71 72 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM the second and third quarter of 2015 that Nationstar needed to substantially improve its compliance with HAMP’s rules and performance metrics. Treasury found that Nationstar failed to follow HAMP rules for considering and evaluating homeowners for HAMP. Based on a review of Treasury’s compliance evaluations over the past year, SIGTARP identified at least 19 instances where Nationstar failed to provide homeowners struggling to make their mortgage payments with a HAMP application package, and, in the alternative, offered the homeowner a much less favorable repayment plan.15 Repayment plans are not as advantageous to the homeowner as HAMP. These plans typically result in a temporary increase in the homeowners monthly mortgage payment (as they pay off the past due balance), while HAMP brings the loan current and permanently reduces the monthly payment.16 A fundamental problem with repayment plans is that homeowners that could not afford the original payment will likely have an even harder time making the higher payments that a repayment plan will require. Repayment plans may not be very effective for homeowners that have not fully recovered from their financial hardship or face financial uncertainty going forward and may make it more likely that a homeowner will default on their loan, whereas HAMP’s goal is that the homeowner’s new payment should be sustainable. Treasury built rules into HAMP requiring that servicers offer HAMP prior to placing struggling homeowners into a potentially detrimental repayment plan, but Nationstar broke those rules repeatedly. Nationstar failed to provide struggling homeowners with HAMP packages that provide basic information about HAMP – including how to apply – so that these homeowners could make an informed decision on how to keep their home or at least know all the options available.17 Treasury also recently found that non-bank servicers in HAMP, Ocwen and Select Portfolio Services, Inc. (“SPS”), violated HAMP rules designed to give homeowners the best chance of success in HAMP. For example, in 2015 Treasury found that, on several occasions, Ocwen failed to put forth “reasonable efforts” to offer struggling homeowners HAMP. In four of the past eight quarters, Treasury found that SPS failed to consistently follow HAMP’s rules on the calculation of homeowner income, which is used to determine eligibility and HAMP modification terms.18 Risk to homeowners of being terminated out of HAMP One of HAMP’s goals was that homeowners’ mortgages be modified so that they were not only affordable, but sustainable.19 However, SIGTARP has reported that of the 1,565,723 homeowners who have received a permanent mortgage modification in HAMP, 507,359 of them (32.4%) have fallen out of the program.iv In some instances, the homeowners were not able to continue making their mortgage payment, even at a reduced level. Non-bank servicers have a higher rate of homeowners falling out of HAMP than bank servicers. HAMP homeowners continue to suffer negative consequences as 34% of HAMP modifications serviced by non-bank servicers end with the homeowner falling out of HAMP, compared to only 28% of HAMP modifications serviced by banks.20 However, in some instances, it is not the fault of the homeowner, but instead a servicer’s failure to iv As of 12/31/2015. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 follow HAMP’s rules. In January, 2016, SIGTARP reported on the results of recent Treasury on-site exams of servicers, which revealed disturbing violations of HAMP rules: the two largest non-bank servicers of HAMP modifications, Ocwen and Nationstar, had both improperly terminated multiple homeowners from HAMP who should have been allowed to stay in the program. The harm to a homeowner falling out of HAMP is significant. According to Treasury data: • 23% of all homeowners who fell out of HAMP moved into foreclosure, • 12% of homeowners who fell out of HAMP lost their homes through a short sale or deed in-lieu of foreclosure, and • 28% of homeowners who fell out of HAMP received an alternative modification, usually a private sector modification that is less advantageous than a HAMP modification. SEVERAL NON-BANK SERVICERS HAVE BEEN SUBJECT TO LAW ENFORCEMENT ACTIONS AS A RESULT OF THEIR FAILURE TO FOLLOW LAWS OR RULES RESULTING IN HARM TO HOMEOWNERS The Department of Justice, Consumer Financial Protection Bureau, and other enforcement and regulatory agencies have found that several large nonbank servicers violated federal laws and regulatory rules, resulting in harm to homeowners. Recent enforcement actions have found that non-bank servicers engaged in the following violations: • Misleading struggling homeowners who sought loan modifications and other assistance to avoid foreclosure • Abusive and illegal debt collection efforts to consumers • Failure to honor loan modification agreements between consumers and their prior mortgage servicers • Backdating modification denial letters • Misrepresenting the amounts people owed • Inflating insurance premiums by requiring forced place insurance and receiving kickbacks • Misconduct at every stage of the foreclosure process • Improper foreclosure activity • Inadequate information systems and personnel • Widespread conflicts of interest • Failure to provide loan information to state regulators so that regulators could assess compliance with state laws.21 73 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 3.2 12/19/2013 – Ocwen was fined $2 billion for “systemic misconduct at every stage of the mortgage servicing process.” 2014 12/4/2013 – PHH Mortgage Corporation (“PHH”)agreed to a $6.25 million settlement with New Jersey for misleading struggling homeowners who sought assitance. 2013 TIMELINE OF RECENT ENFORCEMENT AND LEGAL ACTIONS AGAINST NON-BANK SERVICERS 12/22/2014 – Ocwen fined $150 million and its CEO was forced to resign, due to backdated modification denial letters, improper foreclosure activity, and widespread conflicts of interest. 1/23/2015 – Ocwen was fined $2.5 million for failing to provide information needed to assess Ocwen’s compliance with California’s mortgage laws. 4/27/2015 – Ocwen paid $150 million to settle on accusations of inflating of homeowners’ hazard insurance premiums in exchange for kickbacks. 7/16/2015 – Nationstar settled for $76 million to settle on accusations of inflating of homeowners’ hazard insurance premiums in exchange for kickbacks. 9/14/2015 – Select Portfolio Servicing Inc. settled for $5,000 per homeowner to settle on accusations of inflating of homeowners’ hazard insurance premiums in exchange for kickbacks. Sources: Various, Refer to Endnote 21. 2015 74 4/23/2015 – Green Tree Servicing, LLC settled for $63 million for illegal and abusive debt collection calls, misrepresenting amounts owed, and failing to honor modifications on loans obtained via servicing transfers. 6/4/2015 – PHH was fined $109 million for illegally referring consumers to mortgage insurers in exchange for kickbacks. 7/30/2015 – Residential Credit Solutions agreed to pay $1.5 million for blocking consumers’ attempts to save their home from foreclosure, misleading homeowners, and forcing homeowners to waive certain rights. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 In December of 2013, Ocwen, the largest HAMP non-bank servicer, was fined $2 billion by the CFPB and various state attorney generals for systemic misconduct at every stage of the mortgage servicing process. Among the CFPB’s key findings were that Ocwen had “Deceived consumers about foreclosure alternatives and improperly denied loan modifications”, by providing homeowners false and misleading modification denial reasons, failing to honor trial modifications transferred from other servicers, and attempting to collect payments under the original loan terms on loans that had been modified to help struggling homeowners. Ocwen also “engaged in illegal foreclosure practices” by providing false and misleading information about the foreclosure status of loans belonging to homeowners seeking modifications and engaging in robo-signing of foreclosure documents. Additionally, Ocwen “took advantage of homeowners with servicing shortcuts and unauthorized fees” by failing to timely apply mortgage payments, charging borrowers unauthorized fees, and improperly imposing forced-placed insurance.22 In December 2014, the New York State Department of Financial Services (“NYDFS”) fined Ocwen an additional $150 million and forced the company to remove its CEO. NYDFS found that Ocwen had widespread foreclosure violations, such as moving ahead with foreclosures on homeowners in the process of obtaining modifications. NYDFS found that Ocwen lacked adequate systems and personnel to properly service mortgages resulting in Ocwen backdating letters to homeowners saying they were denied for a modification. NYDFS also found that Ocwen had widespread conflicts of interest related to, among other issues, a forced place insurance scheme where an Ocwen affiliate received kickbacks for inflated insurance premiums whose costs were passed along to homeowners.23 According to the Federal Housing Finance Agency Office of Inspector General, forced placed insurance is generally twice as expensive as typical hazard insurance policies and often provides less coverage for the homeowner.24 Per NYDFS, forced place insurance schemes generally involve the following practice: “…servicers’ own insurance agencies had an incentive to purchase forcedplaced insurance with high premiums because the higher the premiums, the higher the commissions kicked back by insurers to the servicers or their affiliates. The extra expense of higher premiums, in turn, can push already struggling families over the foreclosure cliff.”25,v When servicers use forced placed insurance it inflates the homeowner’s monthly payments, which could lead to default for homeowners in a HAMP permanent modification, making it more difficult for a homeowner to afford their mortgage, even modified under HAMP. Inflated mortgage payments could work against Federal dollars Treasury is spending to prevent foreclosure under HAMP and the Hardest Hit Fund program (where Federal dollars pay off past due mortgage balances and pay the mortgage payments of unemployed homeowners). v addition to regulatory enforcement actions related to forced placed insurance against Ocwen, other large non-bank HAMP servicers, In Nationstar and SPS, have settled large class action lawsuits over the past year related to force placed insurance abuses. In April of 2015 Ocwen agreed to pay out $140 million, in June of 2015 Nationstar agreed to pay out $76 million, and in December of 2015 SPS agreed to pay up to $5,000 per homeowner to victims of forced place insurance schemes. These settlements indicate a large number of homeowners were victimized by this practice. 75 76 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM INCREASED NEED FOR OVERSIGHT OF NON-BANK SERVICERS IN HAMP The track record on some of the larger non-bank servicers in HAMP violating federal law and regulatory rules elevates the risk to homeowners in or applying to HAMP, heightening the need for strong oversight. While Treasury has found and continues to find that some of these non-bank servicers need to improve following HAMP rules and performance metrics, much more improvement and oversight is needed. Despite CFPB and NYDFS finding systemic and egregious violations by Ocwen, Treasury’s oversight, including on-site reviews of Ocwen, did not uncover those same problems. Treasury continues to find that Nationstar needs substantial improvement in complying with HAMP’s rules.26,vi Taxpayers have already funded $1 billion to non-bank servicers, and will continue to fund more given the non-bank servicers increased role in HAMP. Strong oversight is critical to ensure that these non-bank servicers follow HAMP’s rules and the law, give homeowners a fair shot at HAMP, and administer HAMP effectively and efficiently. Violations of the law and HAMP rules raises risks to homeowners. With less regulation, non-bank servicers making decisions in HAMP need strong oversight to ensure homeowners and this TARP program are protected. vi Treasury has never permanently withheld, or clawed back, TARP dollars from any servicer, regardless of how frequent or how egregious their violations of HAMP’s rules. SECT IO N 4 TARP OVERVIEW 78 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 TARP continues until at least 2023, but it looks different now than it did at the height of the crisis.27 Treasury has ended the TARP investments it made in 2008 and 2009 in large and mid-size companies. At this point, TARP is less about accounting for the great bulk of TARP dollars spent, and more about helping those who still need TARP. From a dollar standpoint, 10 banks, AIG, General Motors, GMAC and Chrysler accounted for 80% of all TARP dollars invested ($327.6 billion of $411.7 billion). Treasury has largely recovered those investments, with some losses.i What continues are $38 billion in TARP programs for those who did not recover as quickly, who still feel the effect of the financial crisis, and who continue to need TARP – small banks and homeowners at risk of foreclosure.28 One of TARP’s mandates, as outlined by Congress in the law that created TARP (the Emergency Economic Stabilization Act of 2008), is for Treasury to exercise TARP authority taking into consideration “the need to help families keep their homes.”29 SIGTARP oversight to ensure that these programs operate effectively and efficiently is critical to our nation’s economic stability and continued recovery. While much smaller than its original astronomical size, TARP as it exists now remains a significant size. A $38 billion Federal program is bigger than many Federal programs. Putting the size of $38 billion in ongoing TARP programs in perspective… • That’s just under total contract amounts to operate the International Space Station ($39 billion)30 • That’s slightly less than the Highway Trust fund is estimated to take in annual revenue ($39 billion)31 • That’s more money than spent annually in the Pell Grant program ($28.3 billion)32 • That’s almost 5 times the amount of money proposed to cleanup damage from the Deepwater Horizon oil spill ($8 billion)33 • That’s almost 9 times the annual amount to run NASA’s Exploration Program including programs like the Mars Rover mission ($4.4 billion)34 • That’s more than 13 times the amount of annual money spent on the Community Development Block Grant program which includes HUD’s blight elimination program ($2.8 billion)35 • That’s almost 16 times the amount of annual funds to run our National Parks System ($2.4 billion)36 Federal programs of this magnitude require significant Federal oversight. i TARP has taken total losses or write-offs of $35.1 billion. The auto manufacturers General Motors and Chrysler exited TARP with an $11.2 billion loss for taxpayers, and a $2.9 billion loss, respectively. Treasury broke-even on its TARP investment in the auto finance company Chrysler Financial, but suffered a $2.47 billion loss on its TARP investment in GMAC now known as Ally Financial. TARP’s official records record the TARP investment in AIG at a loss of $13.485 billion, although according to Treasury, there is no Federal loss when combined with the bailout of AIG by the Federal Reserve Bank of New York. Bank failures or bankruptcies of 32 banks/bank holding companies including the large CIT Group (that had received $2.33 billion in TARP) caused losses of more than $5 billion. 79 80 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.1 CONTINUING $38.2 BILLION IN TARP PROGRAMS TARP PROGRAM TIMETABLE SIZE OF TARP PROGRAM MAKING HOME AFFORDABLE Sept. 1, 2023 $27.8 billion HARDEST HIT FUND • nemployment assistance U and other homeowner assistance programs in 19 states • emolition of blighted D vacant houses in 7 states • irst-time homebuyer F down payment assistance in 6 states Dec. 31, 2020 $9.6 billion FHA SHORT REFINANCE 2022 to pay losses Up to $125 million CDCI Until bank/credit union repayment or Treasury sale of stock in 57 banks/credit unions $427 million CPP Until bank repayment or Treasury sale of stock in 15 banks + Treasury sale of warrants in 10 banks $264 million ($254 million TARP investment + $9.8 million warrants) $38.2 billion Note: On February 19, 2016, Treasury announced that $2 billion in TARP funding would be transferred to HHF. Sources: Treasury, Transactions Report, 3/25/2016; Treasury, Monthly TARP Update, 4/1/2016. Treasury, responses to SIGTARP data calls, 4/4/2016, and 4/8/2016. TARP Small Bank Programs Smaller banks experienced difficulty repaying TARP. Beginning in 2012, Treasury began auctioning off its TARP investments in 198 smaller banks, often at a loss, primarily to institutional investors. The future of TARP’s investments of $700 million in 15 small banks that continue in CPP (+warrants in 10 banks) and 57 small banks/credit unions in TARP’s CDCI program remains to be seen.37 There is no deadline for these banks to repay TARP or for Treasury to sell the company stock it received in exchange for the TARP investment.38 TARP Housing Support Programs TARP housing programs are a different story. Not initially included in Treasury’s first three-page TARP proposal to Congress that would have authorized Treasury to spend funds taking into consideration “providing stability or preventing disruption to the financial markets or banking system,” TARP housing programs focus on preventing foreclosures.39 Congress required that focus on homeowners when authorizing TARP. The final law, the Emergency Economic Stabilization Act, mandates a dual purpose of restoring stability and liquidity, and ensuring that TARP protects the investments of individuals and families. Congress explicitly stated in that law that the authority given to the Treasury Secretary must be used SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 in a manner that, among other things, “protects home values” and “preserves homeownership.”40 Unlike the rapid TARP investments made in companies, TARP housing programs have struggled to get TARP funds out to homeowners. As a result: (1) oth Treasury and Congress (in the Dodd-Frank Act) decreased the amount B of TARP funds available for housing programs; (2) reasury has over time extended the application period of these programs in T an effort to increase homeowner participation; and (3) reasury has shifted TARP programs and funds from solely providing T assistance to homeowners to also pay to demolish vacant/abandoned houses and to help pay for first-time homebuyers’ down payments when buying houses.41 Because a homeowner continues in HAMP for six years, TARP will continue until at least 2023. Only about half of the TARP funds available for TARP housing programs ($20.5 billion of $37.5 billion) have been spent over the last seven years, leaving $17 billion in TARP available to be spent.42 Significant Federal oversight is particularly needed in upcoming years because Treasury has designed TARP programs so that the day-to-day decision making is disbursed among many others not in the Federal Government. These TARP decisionmakers have no experience in protecting Federal interests or an express requirement to do so. The largest housing programs include the following: • HAMP — TARP’s signature foreclosure prevention program known as HAMP has fallen well short of the 3 to 4 million homeowners envisioned for it.43 As of March 31, 2016, just 1.6 million homeowners had received permanent mortgage modifications in HAMP, of which more than 500,000 homeowners later fell out of the program, leaving approximately 1 million homeowners in HAMP. In actuality, over 4 million homeowners were denied a HAMP mortgage modification.44 The original $50 billion TARP dollars made available for HAMP and related programs has been cut to $27.8 billion. Treasury has extended HAMP’s initial December 31, 2013 application deadline three times to December 31, 2016.45 In the 2016 Omnibus Appropriations Bill, Congress terminated HAMP (eliminating the Treasury Secretary’s authority to extend HAMP’s application deadline beyond 2016).46 81 82 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.2 CUMULATIVE HAMP MODIFICATION ACTIVITY, AS OF 3/31/2016 Permanent Modifications Started Permanents Redefaulted Permanents Paid Offa Permanents Active HAMP Tier 1 - TARP 779,288 276,547 28,641 474,100 HAMP Tier 1 - GSE 652,165 215,366 57,943 378,856 HAMP Tier 1 1,431,453 491,913 86,584 852,956 HAMP Tier 2 158,599 30,774 1,962 125,863 1,590,052 522,687 88,546 978,819 Total a Includes 4,949 permanent HAMP modifications classified as withdrawn. Source: HAMP 1MP: Program Volumes – Program Type and Payor by Tier - March 2016, accessed 4/20/2016. In eliminating Treasury’s ability to extend HAMP’s application deadline further, Congress held “harmless” modifications applied for or implemented before December 31, 2016. A homeowner applying in December 2016, for example, would experience a period of time where their application is evaluated by their mortgage servicer (such as Ocwen, Bank of America, Nationstar, JPMorgan Chase or CitiMortgage), and during which time the homeowner submits their required documentation. If approved, the homeowner would start a three-month HAMP trial modification. If the homeowner successfully completes the trial period (and assuming that it happens on a timely threemonth basis), the servicer would permanently modify the terms of the mortgage under HAMP (for example, a lowered interest rate). All of these events must happen by December 2017.47 The need for significant Federal oversight by Treasury and SIGTARP over HAMP does not end in December 2017. The history of HAMP has shown that the six years a homeowner is in HAMP do not proceed on an automated basis. During this time, mortgage servicers make day-to-day decisions that impact homeowners and the HAMP program. HAMP has a notable history for mistreatment of homeowners by servicers. Some of the largest mortgage servicers in HAMP have been investigated by SIGTARP, and have been the subject of an enforcement action by DOJ, CFPB, and/or state Attorney Generals. SIGTARP has already reported on violations of HAMP rules by servicers in transferring mortgages to another servicer without transferring a HAMP application or modification. SIGTARP has reported on mortgage servicers who wrongfully terminated homeowners out of HAMP because of misapplied payments, holding payments in suspension, or improperly determining that a homeowner had missed three payments. Treasury has repeatedly found instances of each of the largest servicers in HAMP not complying with HAMP rules, while Treasury has continued to pay the servicer TARP dollars. Past violations of the law or HAMP’s rules by mortgage servicers who mistreat homeowners highlight the crucial need for Treasury and SIGTARP oversight throughout the lifetime of the program.48 Without Federal oversight, homeowners and the program itself would be unprotected. SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 • Hardest Hit Fund — TARP’s second largest housing program, the $9.6 billion Hardest Hit Fund, has also struggled to get assistance to homeowners. This is not a grant program. Instead, these are programs that Treasury approves to provide direct assistance to help homeowners pay their mortgage. As implemented by Treasury, this program has been used primarily to provide assistance to unemployed or underemployed homeowners— 75% of all assistance provided has come in the form of direct unemployment/ underemployment assistance including help paying past due amounts on a mortgage. The estimated number of homeowners the program will provide TARP assistance to has decreased 45% since the beginning of 2011 from 546,562 homeowners to 302,989 homeowners. As of December 31, 2015, 248,620 individual homeowners have received TARP assistance through HHF.49 State housing finance agencies make day-to-day decisions. SIGTARP has reported HHF’s underperformance in certain states and how some state housing finance agencies are not as effective as others in providing this assistance. On seven occasions, Treasury has conducted oversight to say that a state agency is not performing and must ramp up performance to meet a Treasury-set target.50 In 2013, as this program underperformed in providing TARP funds to homeowners, it became clear that the money would not be spent by the December 2017 end date, and Treasury decided to spend these TARP dollars in other ways. First, Treasury shifted some TARP funds that had been previously designated to assist homeowners to a new “blight elimination” demolition program that pays partners with TARP dollars, who use those TARP dollars to reimburse its payments to contractors and subcontractors to demolish vacant/ abandoned houses in seven states. Second, in 2015, Treasury made another shift of TARP funds previously designated for homeowner assistance programs to provide TARP funds for a down payment to “first-time” homebuyers to help them buy a home (or property with up to 4 multifamily units) in six states.51 The Hardest Hit Fund is a program that looks to grow significantly in the amount of TARP dollars, in the number of state agencies conducting blight demolitions under the program, and in the years the program will continue. While Congress recently ended Treasury’s authority to extend the HAMP application period further, Congress gave the Treasury Secretary the authority to extend HHF’s original December 31, 2017 expiration date, which it did to December 31, 2020. Congress also authorized the Treasury Secretary to transfer up to $2 billion in unused TARP dollars from HAMP to the Hardest Hit Fund, which it did on February 19, 2016, becoming a nearly $10 billion program.52 The need for significant oversight by Treasury and SIGTARP over the Hardest Hit Fund is crucial as this TARP program is in a growth stage and as this program has taken on more risk. Throughout the lifetime of the program, state housing finance agencies in 19 states and some of the same mortgage servicers who participate in HAMP will be making decisions such as which homeowners applying for the program will receive assistance. These state agencies will make decisions as to whether mortgage servicers are complying with their HHF agreements. Six of these state agencies will make decisions 83 84 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM about whether a homebuyer qualifies to receive down payment assistance to buy a home. Seven of these agencies will also make day-to-day demolition-related decisions. This includes whether demolition or other related work conducted by individuals and entities (such as demolition contractors) was conducted appropriately, and in accordance with program guidelines, so that they should be paid with TARP funds. The presence of 280 partners, each one of them hiring teams of demolition contractors and subcontractors for inspection, asbestos abatement, environmental impact, grading of the dirt on site, greening and maintenance greatly increases the risk of fraud, waste, and abuse in the Hardest Hit Fund from when it was a program that only provided TARP payments to homeowners. SIGTARP has already reported on a lack of transparency in this program and that Treasury does not know of the identity of all of these individuals and entities who receive or will receive TARP funds.53 Increased risk of fraud, waste, and abuse makes SIGTARP’s oversight over this TARP program, including enforcement of the law, crucial in the upcoming years. As our nation moves farther from the financial crisis, it can be natural to not put a Federal focus on programs related to the crisis. As we compare the unprecedented enormity of what TARP was, it can be natural to think of TARP as over, or small. However, if today our Federal Government created a $38 billion program, particularly one that put the day-to-day decision making in the hands of non-Federal entities, there would be a cry for significant Federal oversight. SIGTARP will continue on watch, preventing fraud, waste, and abuse, enforcing the law when fraud seeps in, and giving insight to obstacles and ways to improve. SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 TABLE 4.3 REALIZED LOSSES/WRITE-OFFS FOR TARP INVESTMENTS, AS OF 3/31/2016 TARP Program Institution Total TARP Investment ($ MILLIONS) Realized Lossa, Write-Offsb,c Description Autos Chrysler $1,328a Sold 98,461 shares and equity stake in the UAW Retiree trust for $560,000,000 Chrysler 1,600b Accepted $1.9 billion as full repayment for the debt of $3.5 billion Chrysler Total $10,465 $2,928 GM 3,203a Treasury sold to GM at a loss GM 7,130a Treasury sold to public at a loss GM 826a Loss due to bankruptcy plan of restructuring GM Total $49,500 $11,159 Ally Financial Ally Financial Total Total Investment 2,473a $17,174 $79,693 c Sold 219,079 common shares in a private offering, 95,000,000 common shares, 7,245,670 common shares, 8,890,000 common shares, 11,249,044 common shares, and 43,685,076 common shares in five separate public offerings, all for a loss $2,473 Total Realized Loss, Write-Offs $16,560 CDCI Premier Bancorp, Inc. Total Investment $7a $570 Total Realized Loss, Write-Offs Liquidation of failed bank $7 CPP $1,821a,b Sales and exchanges 29 CPP Banks in Bankruptcy 198 CPP Banks 810b Bankruptcy in process, loss written off by Treasury Pacific Coast National Bancorp 4b Bankruptcy process completed, loss written off by Treasury 104a Bankruptcy process completed, loss written off by Treasury 2,330b Bankruptcy process completed, loss written off by Treasury Anchor Bancorp Wisconsin, Inc. CIT Group Inc. Total Investment $204,895 Total Realized Loss, Write-Offs $5,069 $67,835 Total Realized Loss, Write-Offs $13,485 SSFI $13,485a AIGd Total Investment Total Realized Loss Total TARP Investment $29,310 $350,439 Total Write-Offs Sale of TARP common stock at a loss $5,812 Total Realized Loss, Write-Offs $35,122 Notes: Numbers may not total due to rounding. a I ncludes investments reported by Treasury as realized losses. Treasury changed its reporting methodology in calculating realized losses, effective June 30, 2012. Disposition expenses are no longer included in calculating realized losses. b I ncludes investments reported by Treasury as write-offs. According to Treasury, in the time since some transactions were classified as write-offs, Treasury has changed its practices and now classifies sales of preferred stock at a loss as realized losses. c I ncludes $1.5 billion investment in Chrysler Financial, $413 million ASSP investment, and $641 million AWCP investment. d T reasury has sold a total of 1.66 billion AIG common shares at a weighted average price of $31.18 per share, consisting of 1,092,169,866 TARP shares and 562,868,096 non-TARP shares based upon the Treasury’s pro-rata holding of those shares. The non-TARP shares are those received from the trust created by the Federal Reserve Bank of New York for the benefit of the Treasury. Receipts for non-TARP common stock totaled $17.55 billion and are not included in TARP collections. The realized loss reflects the price at which Treasury sold common shares in AIG and TARP’s cost basis of $43.53 per common share. Sources: Treasury, Transactions Report, 3/25/2016; Treasury, Monthly Report to Congress, March 2016; Treasury Press Release, “Treasury Announces Agreement to Exit Remaining Stake in Chrysler Group LLC,” 6/2/2011, www.treasury.gov/press-center/press-releases/Pages/tg1199.aspx, accessed 4/1/2016; Treasury, response to SIGTARP data call, 4/4/2016; Treasury, Monthly TARP Update, 6/3/2013, 6/13/2013, 7/1/2014, 10/1/2014, 1/2/2015, 4/1/2015, 7/1/2015, 10/1/2015, 1/4/2016, 4/1/2016. 85 86 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM HOUSING SUPPORT PROGRAMS On February 18, 2009, the Administration announced a foreclosure prevention plan that became the Making Home Affordable (“MHA”) program.54 MHA includes the following programs: • Home Affordable Modification Program (“HAMP”) — Mortgage servicers and investors modify eligible first-lien mortgages in default or at imminent risk of default into “affordable and sustainable” loans. The Government-sponsored enterprises (“GSEs”) also participate in non-TARP HAMP.55,ii Homeowners with non-owner-occupied “rental” properties and a wider range of debt-to-income ratios may have their mortgages modified with HAMP Tier 2.56 Table 4.4 shows cumulative HAMP activity by program and Tier through March 31, 2016. TABLE 4.4 CUMULATIVE HAMP MODIFICATION ACTIVITY, AS OF 3/31/2016 Trials Started Trials Cancelled Trials Trials Converted to Active Permanent Permanents Redefaulted Permanents Paid Offa Permanents Active HAMP Tier 1 - TARP 1,143,283 354,172 9,823 779,288 276,547 28,641 474,100 HAMP Tier 1 - GSE 1,088,187 432,940 3,082 652,165 215,366 57,943 378,856 HAMP Tier 1 2,231,470 787,112 12,905 1,431,453 491,913 86,584 852,956 HAMP Tier 2 188,038 13,433 16,006 158,599 30,774 1,962 125,863 2,419,508 800,545 28,911 1,590,052 522,687 88,546 978,819 Total a Includes 4,949 permanent HAMP modifications classified as withdrawn. Source: HAMP 1MP: Program Volumes – Program Type and Payor by Tier - March 2016, accessed 4/21/2016. Mortgage Servicers: Companies that perform administrative tasks on monthly mortgage payments until the loan is repaid. These tasks include billing, tracking, and collecting monthly payments; maintaining records of payments and balances; allocating and distributing payment collections to investors in accordance with each mortgage loan’s governing documentation; following up on delinquencies; and initiating foreclosures. Investors: Owners of mortgage loans or bonds backed by mortgage loans who receive interest and principal payments from monthly mortgage payments. Servicers manage the cash flow from homeowners’ monthly payments and distribute them to investors according to Pooling and Servicing Agreements (“PSAs”). Government-Sponsored Enterprises (“GSEs”): Private corporations created and chartered by the Government to reduce borrowing costs and provide liquidity in the market, the liabilities of which are not officially considered direct taxpayer obligations. On September 7, 2008, the two largest GSEs, the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”), were placed into Federal conservatorship. They are currently being financially supported by the Government. ii In 2015, Treasury began using TARP funds to pay a homeowner incentive for GSE-backed HAMP modifications in certain cases. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 During the past quarter less homeowners started new HAMP trial modifications (23,836 compared to 26,496 the prior quarter), more homeowners converted from trial to permanent modifications (24,329 compared to 23,680 the prior quarter), and less homeowners redefaulted (15,328 compared to 18,231 the prior quarter), broken down as follows: 9,491 homeowners started trial modifications under Tier 1 and 14,345 under Tier 2; 10,458 homeowners converted from trial to permanent modifications in Tier 1 and 13,871 under Tier 2; and 11,438 HAMP Tier 1 modifications and 3,890 Tier 2 modifications redefaulted. • • • Home Affordable Foreclosure Alternatives (“HAFA”) — Under HAFA, Treasury uses TARP funds to help homeowners pursue short sales and deedsin-lieu of foreclosure.57 During the quarter ended March 31, 2016, 5,913 homeowners completed short sales or deeds-in-lieu under HAFA, compared to 6,560 the prior quarter, bringing the total number of homeowners assisted by the program to 218,037. As of February 29, 2016, 12,874 of 215,822 HAFA transactions involved homeowners that had previously received permanent HAMP modifications.58 Second-Lien Modification Program (“2MP”) — 2MP modifies secondlien mortgages when the first lien is modified under HAMP.59 As of March 31, 2016, 156,484 second liens had been permanently modified under the program and 81,566 of those remain active.60 Agency-Insured Programs — These programs help modify eligible first-lien mortgages insured by FHA or guaranteed by the Department of Agriculture’s Office of Rural Development (“RD”).61 As of March 31, 2016, 115,632 loans have been modified through FHA-HAMP, 83,049 of which remain active, and an additional 207 loans have been modified through RD-HAMP, 133 of which remain active.62 Short Sale: Sale of a home for less than the unpaid mortgage balance. A homeowner sells the home and the investor accepts the proceeds as full or partial satisfaction of the unpaid mortgage balance, thus avoiding the foreclosure process. Deed-in-Lieu of Foreclosure: Instead of going through foreclosure, the homeowner voluntarily surrenders the deed to the home to the investor, as satisfaction of the unpaid mortgage balance. In addition to MHA, Treasury also allocated TARP funds to support two additional housing support efforts. These non-MHA TARP housing programs include: • • Housing Finance Agency Hardest Hit Fund (“HHF”) — Homeowner foreclosure prevention programs in 19 states hit hardest by the decrease in home prices and unemployment.63 As of December 31, 2015, the latest data available, 248,620 homeowners had received assistance under HHF.64 FHA Short Refinance Program — Under this program 7,130 homeowners current on their mortgage refinance non-FHA underwater mortgages into FHA-insured mortgages with lower principal balances. TARP funds provide up to $125 million to support the program.65 As of March 31, 2016, Treasury has paid $145,330 of loss claims on six defaulted loans that had been refinanced under the program.66 Underwater Mortgage: Mortgage loan on which a homeowner owes more than the home is worth, typically as a result of a decline in the home’s value. Underwater mortgages also are referred to as having negative equity. 87 88 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Status of TARP Funds Obligated to Housing Support Programs Only about half ($20.5 billion) of the $37.5 billion in TARP funds available for housing support have been spent through March 31, 2016, of which $1.5 billion was spent in the most recent quarter.67 As shown in Figure 4.1, $14 billion was spent on MHA incentive payments. As of March 31, 2016, state housing finance agencies had drawn down $6.4 billion (67% of the $9.6 allocated funds).68,iii,iv Figure 4.1 shows the breakdown in expenditures and estimated funding allocations for these housing support programs. FIGURE 4.1 TARP HOUSING SUPPORT FUNDS ALLOCATED AND SPENT, AS OF 3/31/2016 ($ BILLIONS) MHA $27.8 billion 50% spent 67% spent ($6.4 billion) ($14.0 billion) 67% spent ($6.4 billion) Hardest Hit Funda $9.6 billion Funds Allocated Funds Spent 16% spent ($0.02 billion) FHA Short Refinanceb $0.1 billion 0 5 10 15 20 25 30 Notes: Notes: Numbers may not total due to rounding. According to Treasury, these numbers are “approximate.” a Not all of the funds drawn down by states have been used to assist homeowners. As of December 31, 2015, HFAs had drawn down approximately $5.8 billion, and, according to the latest data available, only $4.6 billion (48%) of TARP funds allocated for HHF have gone to help 248,620 homeowners. On 2/19/2016, Treasury formally reallocated $2 billion from MHA to HHF, congress granted it the authority to do so on 12/18/2015, this increased the program's allocation from $7.6 billion to $9.6 billion. b Allocation includes up to $25 million in fees Treasury will incur for the availability and usage of the $100 million letter of credit. $20.5 million in program expenditures include a $10 million pre-funded reserve balance (In March 2013, Treasury funded a reserve account with $50 million for any future loss claim payments, $40 million of the reserve balance was returned to Treasury in March 2015), and $10.5 million in administrative expenses. Sources: Treasury, responses to SIGTARP data calls, 1/5/2012, 4/4/2016 and 4/21/2016; Treasury, Transactions Report-Housing Programs, 3/28/2016; Treasury, Monthly TARP Update, 4/1/2016. As of March 31, 2016, Treasury had active agreements to pay TARP funds to 76 servicers, and had spent $14 billion in incentives: $11.7 billion on permanent first-lien modifications (including PRA and HPDP); $891.3 million on 2MP; and $1.2 billion on incentives for short sales or deeds-in-lieu of foreclosure under iii Housing Finance Agencies are state government entities that design and administer each state’s HHF programs. iv On 2/19/2016, Treasury formally reallocated $2 billion from MHA to HHF, congress granted it the authority to do so on 12/18/2015. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 HAFA.69,v For all of the MHA programs, Treasury paid approximately $7.4 billion to investor or lender incentives, $3.2 billion to servicer incentives, and $3.5 billion to homeowner incentives. For just HAMP Tier 1 incentives alone (excluding PRA and HPDP), Treasury has spent $8.9 billion, of which $3.8 billion has been spent on investor incentives, $2.4 billion has been spent on servicer incentives, and $2.7 billion has been spent on homeowner incentives (that go to the servicer to pay down the homeowners principal balance).70,vi Treasury uses TARP funds to pay incentives to encourage servicers and investors to help homeowners get into HAMP and other MHA programs, to help homeowners in HAFA pay relocation expenses, and to reward homeowners in HAMP who make their payments on time. Through March 31, 2016, servicers have received 22% of all TARP incentive payments ($3.2 billion), investors have received 53% ($7.4 billion), and homeowners have received 25% ($3.5 billion). Counting only HAMP incentive payments, servicers have received 22% ($2.6 billion), investors 55% ($6.5 billion), and homeowners 23% ($2.7 billion).The nature of these incentives is as follows: • Servicer Incentives – TARP pays servicers up to $2,000 in one-time incentives for modifying loans under HAMP, modifying or extinguishing loans under 2MP, or facilitating short sale or deed-in-lieu transactions under HAFA. TARP also pays servicers annually for up to 3 years for each active HAMP and 2MP modification. • Investor Incentives – TARP pays investors up to $1,500 in one-time incentives for agreeing to homeowner HAMP modifications on loans that are not past-due, and in partial reimbursement of principal amounts forgiven under 2MP and HAFA. On a monthly basis for up to five years, TARP also partially reimburses investors for the reduced payments they receive on active HAMP and 2MP modifications. Investors may also receive up to two annual incentive payments to offset potential losses on HAMP modifications in neighborhoods with declining home values under HPDP, and up to three annual incentive payments based on amounts forgiven under PRA. • Homeowner Incentives – Annually, TARP will pay $1,000 to reduce the principal balance of HAMP homeowners who make their modified mortgage payments on time—for up to five years for homeowners in HAMP (Tier 1 only) and 2MP, and three years under FHA and RD HAMP. Additionally, homeowners who continue to make their HAMP payments on time through the 6th anniversary of their trial period start date receive a $5,000 TARP incentive payment to reduce their outstanding principal balance further. Table 4.5 shows incentive payments made to the ten servicers that have received most incentives under MHA (Refer to Appendix D.2 for incentive payments on HAMP modifications). v he $11.7 billion in incentives on permanent first lien modifications includes $327.6 million in Year 6 incentives on GSE backed T modifications that Treasury pays. vi Figures include $327.6 million in TARP funded homeowner incentive payments on GSE backed HAMP modifications. 89 90 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.5 TARP INCENTIVE PAYMENTS BY 10 SERVICERS, ALL MHA PROGRAMS, AS OF 3/31/2016 ($ MILLIONS) SPA Cap Limit Incentive Payments to Borrowers Incentive Payments to Investors Incentive Payments to Servicers Total Incentive Payments $6,840.4 $702.9 $2,033.5 $705.2 $3,441.6 JPMorgan Chase Bank, NAb 4,021.2 560.7 1,356.1 518.7 2,435.6 Wells Fargo Bank, N.A.d 4,520.3 577.4 1,183.5 529.7 2,290.5 Bank of America, N.A.c 3,379.2 492.7 881.3 466.6 1,840.5 Nationstar Mortgage LLCe 2,183.8 247.2 428.0 181.3 856.5 Select Portfolio Servicing, Inc. 1,790.7 247.6 388.7 204.1 840.5 CitiMortgage Inc 988.5 140.2 348.5 139.7 628.3 Ocwen Loan Servicing, LLCa CIT Bank, N.A. 654.7 71.6 237.8 90.7 400.1 Bayview Loan Servicing LLC 501.0 59.0 99.0 39.2 197.2 Ditech Financial LLCg 585.6 91.6 60.2 21.7 173.5 Other Servicers 2,316.4 265.4 401.5 258.7 925.6 $27,781.9 $3,456.3 $7,418.0 $3,155.6 $14,030.0 f Total Notes: Numbers may not total due to rounding. On July 1, 2012, Saxon Mortgage Services, Inc. ceased servicing operations by selling its mortgage servicing rights and transferring the subservicing relationships to third-party servicers. The remaining SPA Cap Limit stated above represents the amount previously paid to Saxon Mortgage Services, Inc. prior to ceasing servicing operations. a Ocwen Loan Servicing, LLC includes the former Litton Loan Servicing, LLC, GMAC Mortgage, LLC, and Homeward Residential. b JPMorgan Chase Bank, NA includes EMC Mortgage Corporation. c Bank of America N.A. includes the former Countrywide Home Loans Servicing, BAC Home Loans Servicing LP, Home Loan Services, and Wilshire Credit Corporation. d Wells Fargo Bank, N.A. includes Wachovia Bank, NA and Wachovia Mortgage, FSB. e Nationstar Mortgage LLC includes MorEquity, Inc and the former Aurora Loan Services LLC. f Formerly OneWest Bank. g Formerly GreenTree Servicing LLC Source: Treasury, Transactions Report-Housing Programs, 3/28/2016. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 As shown in Table 4.5, Ocwen Loan Servicing, LLC, received $3,411.6 million in total incentive payments, the most of any servicer. The four largest HAMP servicers (Ocwen Loan Servicing, LLC; JPMorgan Chase Bank, NA; Wells Fargo Bank, N.A.; and Bank of America, N.A.) received 71% of all incentives paid out. Only 20% of the incentives paid to Ocwen Loan Servicing, LLC went to homeowners, least among the four largest servicers. Conversely, 27% of incentives paid to Bank of America, N.A. went to homeowners, the highest among the four largest servicers. Of the $14 billion in total incentives paid to all servicers, 25% went to homeowners, 53% went to investors, and the remaining 22% went to the servicers. HAMP HAMP was intended “to help as many as three to four million financially struggling homeowners avoid foreclosure by modifying loans to a level that is affordable for borrowers now and sustainable over the long term.”71 Homeowners can apply for HAMP until December 31, 2016.72 To obtain HAMP, homeowners participate in a three month trial period, followed by a permanent modification. If the homeowner makes all three modified mortgage payments on time during the trial period, the modification is supposed to become permanent with fixed interest rate and terms for five years. After that the rate may increase by up to 1% per year until it reaches the level prevailing at the time the homeowner began the trial.73 According to Treasury’s official HAMP database, 5,961,553 homeowners applied for HAMP between December 2009 and February 2016, the latest data available. As Figure 4.2 shows, 4,147,741 homeowners, or 70% percent of those who applied, were turned down by their servicers. Another 395,125 fell out during the trial period, and another 395,760 redefaulted after they received a permanent HAMP modification. 91 92 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.2 HOMEOWNERS APPLYING FOR HAMP, AS OF FEBRUARY 2016 5,961,553 Homeowners Applied for HAMP 1,813,812 Homeowners Were Offered HAMP Trial Modifications 1,378,604 Homeowners Obtained HAMP Permanent Modifications 923,048 Homeowners Remain in HAMP Denied Homeowner Applications (4,147,741 homeowners) Fell out during trial period (395,125 homeowners) Redefaulted and fell out of HAMP (395,760) Notes: Includes HAMP activity between December 2009 and February 2016. Prior to December 2009 Treasury did not require servicers to report HAMP denials. February 2016 is the most recent detailed data made available by Treasury. Analysis includes HAMP Tier 1, HAMP Tier 2, Treasury/FHA HAMP, and Treasury/RD HAMP as Treasury does not require homeowners denied HAMP be categorized by program type. Sources: Treasury, “HAMP 1MP: Trial Fallout and Denials - Vintage & Reason,” February 2016, accessed 4/6/2016; Treasury HAMP data. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 While Treasury requires that servicers review a completed HAMP application within 30 days, Treasury allows servicers to extend the review time indefinitely if the application is incomplete, even though the homeowner may not be at fault for any delay or incompleteness. Servicers pre-screen for basic eligibility: mortgage origination no later than January 1, 2009; outstanding balance not to exceed $729,750 (more for qualifying multi-unit properties); the property is not condemned; and the participation of the servicer and investor.74 Servicers follow a sequence of steps to try to reduce the monthly mortgage payment to less than 31% of the homeowner’s monthly income: 1. 2. 3. 4. Add any unpaid interest and fees to the outstanding mortgage balance; Reduce the interest rate in incremental steps to as low as 2%; Extend the term up to 40 years; Defer and cease charging interest on a portion of the principal balance.75 If these steps sufficiently reduce the homeowner’s payment and the modification passes the NPV test, the homeowner must be offered a HAMP Tier 1 Trial Period Plan.vii If a homeowner is ineligible for HAMP Tier 1, they must be evaluated for HAMP Tier 2, and if ineligible for both programs, servicers must provide homeowners with written notification of the reason the homeowner was rejected.76 More Homeowners Continue to Apply for HAMP Relief Than Servicers Process Each Month Beginning in July 2014, SIGTARP raised concerns over lengthy delays of several months to even a year or more that homeowners faced in getting a decision on their HAMP application from their servicer. Since SIGTARP’s reporting, some servicers have decreased wait times, but others have not, or actually got worse. According to the most recent data available on Treasury’s website, servicers received an aggregate 49,062 requests for HAMP assistance in February 2016, but only processed 43,722 applications in that month (5,340 fewer than received).77 So long as servicers continue to receive more applications than they process each month, increasing numbers of homeowners will face delays in getting action on their requests for HAMP assistance. Figure 4.3 shows the performance of the top HAMP servicers in February 2016 in reviewing the number of homeowner applications they received that month. vii ervicers may use principal forgiveness (PRA or otherwise) to reduce the homeowner’s payment, at any point during the HAMP Tier 1 S or HAMP Tier 2 Waterfall, but are not required to do so. Net Present Value (“NPV”) Test: Compares the money generated by modifying the terms of the mortgage with the amount an investor can reasonably expect to recover in a foreclosure sale. For more homeowners who were denied HAMP assistance, see “Mortgage Servicers Have Denied Four Million Homeowner Applications for HAMP Assistance,” in SIGTARP’s July 2015 Quarterly Report to Congress, pages 97-117. For more on the HAMP application process, eligibility criteria, HAMP Waterfall, and basic differences between HAMP Tier 1 and HAMP Tier 2, see SIGTARP’s January 28, 2015 Quarterly Report, page 143-145 and 149-151. For additional information about the HAMP application and modification process, please see the discussion, “How HAMP Works,” in SIGTARP’s Quarterly Report to Congress, July 29, 2015, pp. 165-170. 93 94 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.3 SERVICERS ABLE OR UNABLE TO PROCESS THE NUMBER OF HAMP APPLICATIONS RECEIVED THAT MONTH (FEBRUARY 2016) Processed More Than Number of Applications Received 1,500 1,207 1,000 500 335 47 0 (119) -500 (385) (568) (610) -1,000 Processed Fewer Than Number of Applications Received 154 -1,500 -2,000 -2,500 (2,390) -3,000 -3,500 (3,259) -4,000 -4,500 Ocwen Loan Servicing, LLC Wells Fargo Bank, NA Nationstar Mortgage LLC Bank of America, NA JPMorgan Chase Bank, NA Select Portfolio Servicing, Inc. Specialized Loan Servicing LLC Bayview CitiMortgage Inc Loan Servicing, LLC U.S. Bank National Association Source: Treasury, HAMP Application Activity by Servicer, as of February 2016", www.treasury.gov/initiatives/financialstability/reports/Documents/HAMP%20Application%20Activity%20by%20Servicer%20February%202016.pdf, accessed 4/6/2016. According to data reported by Treasury as of February 2016, only 4 out of the 10 servicers who reported receiving the most applications in that month — Select Portfolio Servicing, Inc., Wells Fargo Bank, NA, CitiMortgage Inc , and Bayview Loan Servicing, LLC — succeeded in processing more applications than they received. Those servicers collectively processed only 1,743 more applications than they received. The remaining servicers reported they were unable to process substantial numbers of the applications that they received in the month. Of which Ocwen Loan Servicing, LLC was the worst, processing only 9,419 applications in the most recent month, 3,259 fewer than it received during the period. Treasury’s data shows that 180,064 homeowners had not had their applications processed through February 2016, out of an aggregate of 9,235,255 applications the servicers reported having received. Despite occasional improvement over time, homeowners still face significant delays, however, as SIGTARP has reported, servicers continue to revise previously reported application data, making comparisons to prior periods difficult. As shown in Table 4.6 at the processing rates reported in Treasury’s most recent data (February 2016), it would take 7 of the top 10 HAMP servicers longer than three months to process the number of homeowner applications that hadn’t yet received a decision, even were they to receive no additional applications; Citi and Bank of America would take longer than six months. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 TABLE 4.6 MONTHS TO PROCESS OUTSTANDING APPLICATIONS AT MOST RECENT RATE BY SERVICER, AS OF 2/29/2016 Servicer Name Applications Processed in February 2016 Total Applications Unprocesseda Months to Process the Homeowners who have already appliedb CitiMortgage Inc 1,476 15,268 10.3 Bank of America, NA 3,660 29,099 8.0 JPMorgan Chase Bank, NA 3,665 20,520 5.6 Ocwen Loan Servicing, LLC 9,419 50,896 5.4 Select Portfolio Servicing, Inc. 4,668 21,395 4.6 Ditech Financial LLCc 594 2,237 3.8 Wells Fargo Bank, NA 7,400 23,240 3.1 Specialized Loan Servicing LLC 2,315 4,325 1.9 Bayview Loan Servicing, LLC 1,754 3,116 1.8 Nationstar Mortgage LLC 5,751 6,956 1.2 Others 3,020 3,012 1.0 TOTAL 43,722 180,064 Notes: a P rogram-to-Date Requests Received less Program-to-Date Requests Processed. Data subject to ongoing revision by servicers. b Total Applications Unprocessed divided by most recent month’s Applications Processed. c Formerly GreenTree Servicing LLC. Source: Treasury, “HAMP Application Activity by Servicer,” February 2016. 95 96 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Homeowners Denied HAMP—7 Out of Every 10 Homeowners Who Apply for HAMP Have Been Turned Away By Their Servicer Although the rate at which servicers have denied homeowners’ HAMP applications has decreased over the last several years, it remains high at 59% in 2016. Figure 4.4 shows the aggregate number and percent of homeowners whose HAMP applications were denied by year. FIGURE 4.4 HOMEOWNERS WHOSE HAMP APPLICATIONS WERE DENIED, BY YEAR, AS OF FEBRUARY 2016 5,000,000 82% 4,000,000 72% 68% 67% 65% 65% 59% 3,000,000 2,000,000 1,000,000 1,189,025 2,031,469 3,027,150 3,535,602 3,844,940 4,111,140 4,147,741 2010 0 2011 2012 2013 2014 2015 2016 Cumulative Homeowners Denied Percent of Homeowners Denied by Year Note: Excludes HAMP denials and trial starts prior to December 2009. Prior to December 2009 Treasury did not require servicers to report HAMP denials. Source: Treasury, "HAMP 1MP: Trial Fallout and Denials - Servicer, Vintage & Reason, "February 2016, accessed 4/6/2016; Treasury HAMP Data. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 Figure 4.5 shows the number of homeowners who were denied a HAMP trial modification, and the number who actually started a HAMP trial, by the seven top HAMP servicers Treasury currently reports on in its quarterly MHA Program Performance Report. FIGURE 4.5 HOMEOWNERS DENIED A HAMP TRIAL VS. HOMEOWNERS WHO STARTED A HAMP TRIAL, BY SERVICER, AS OF FEBRUARY 2016 1,200,000 187,009 328,922 1,000,000 470,453 178,143 800,000 289,535 600,000 400,000 196,138 49,109 200,000 0 110,235 349,205 985,030 689,608 763,928 431,455 229,968 102,778 595,769 CITIMORTGAGE INC. (88% DENIAL RATE) JPMORGAN CHASE BANK, N.A.b (84% DENIAL RATE) BANK OF AMERICA, N.A.c (79% DENIAL RATE) OCWEN LOAN SERVICING, LLCa (70% DENIAL RATE) WELLS FARGO BANK, N.A.d (60% DENIAL RATE) NATIONSTAR MORTGAGE LLCe (54% DENIAL RATE) SELECT PORTFOLIO SERVICING, INC. (48% DENIAL RATE) OTHER SERVICERS (56% DENIAL RATE) Homeowners Turned Down for HAMP Homeowners Started a HAMP Trial Modification Notes: Excludes HAMP denials and trial starts prior to December 2009. Prior to December 2009 Treasury did not require servicers to report HAMP denials. Prior to December 2009 Treasury did not require servicers to report on the status of all HAMP applications received. a Ocwen Loan Servicing, LLC includes the former Litton Loan Servicing, LLC, GMAC Mortgage, LLC, and Homeward Residential. b JPMorgan Chase Bank, NA includes EMC Mortgage Corporation. c Bank of America N.A. includes the former Countrywide Home Loans Servicing, BAC Home Loans Servicing LP, Home Loan Services, and Wilshire Credit Corporation. d Wells Fargo Bank, N.A. includes Wachovia Bank, NA and Wachovia Mortgage, FSB. e Nationstar Mortgage LLC includes MorEquity, Inc and the former Aurora Loan Services LLC. Source: Treasury, “HAMP 1MP: Trial Fallout and Denials - Servicer, Vintage & Reason,” February 2016, accessed 4/6/2016; Treasury HAMP Data. 97 98 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM CitiMortgage, Inc. had the highest denial rate at 88% - nearly 9 out of 10 homeowners. Other servicers denying the highest percentage of homeowners seeking HAMP were JPMorgan Chase (84%) and Bank of America (79%). Ocwen, the servicer with the largest number of HAMP modifications, has denied 70% of homeowners that sought HAMP. All but one of these servicers (Select Portfolio Servicing, Inc.) deny more than half of those who apply. Trial Modifications According to Treasury, as of March 2016, 1,914 (15% of the 12,905 active HAMP Tier 1 trials) have lasted at least six months and, of those, 816 (6% of active HAMP Tier 1 trials) have lasted at least a year.78 Additionally, 429 HAMP Tier 1 trials were cancelled and did not convert to permanent modifications (along with 1,011 HAMP Tier 2 trails). For more details, see SIGTARP’s report, “Homeowners Can Get Lost in the Shuffle and Suffer Harm When Their Servicer Transfers Their Mortgage But Not the HAMP Application or Modification,” in SIGTARP’s October 2014 Quarterly Report, pages 99-112. HAMP Mortgage Servicing Transfers Homeowners in and seeking HAMP get “lost in the shuffle” when their mortgage servicers transferred their loans to other servicers, but their HAMP application or modification gets lost or delayed in the transfer. Delays, omissions, or miscommunications between transferring servicers and new servicers during the transfer can seriously delay, deny, or decrease relief provided to HAMP-eligible homeowners. Homeowners applying for HAMP may be required to submit new applications months later, requiring all new documentation because the past documentation may become stale. Many struggling homeowners who could not afford their original mortgage payment may fall further behind in their mortgage payments during a new, extended application period, which may put their homes at risk or hurt their chances of receiving a HAMP modification. Homeowners already in a HAMP trial or permanent modification are harmed if the new servicer is not timely informed or does not honor the modification. Even when the homeowner makes the modified HAMP payments on time, if the new servicer does not understand that they are in a HAMP modification before the first monthly payment is due, the new servicer will only see the original terms of the mortgage and deem that homeowner as delinquent on the original terms. New servicers also may recalculate income or payments in a way that disadvantages homeowners. Treasury’s HAMP rules require that HAMP applications, modifications, and related information be transferred with the mortgages, and that servicers report any transfers of HAMP mortgages to Treasury.79 Thousands of HAMP homeowners have had their mortgage servicing transferred, with over 75% acquired by a handful of HAMP servicers. Figure 4.6 presents Treasury’s data on the number of HAMP modifications (trial and permanent) transferred between mortgage servicers since the program began.viii viii “HAMP Modification” herein refers to trial and permanent modifications under HAMP (Tier 1 and Tier 2), FHA HAMP, and RD HAMP. Treasury does not collect detailed information on VA HAMP, as its incentives are not paid using TARP funds. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 4.6 CUMULATIVE HAMP SERVICING TRANSFERS – TRIAL AND PERMANENT MODIFICATIONS TRANSFERRED 300,000 265,227 250,000 266,995 2015 2016 239,966 203,185 200,000 150,000 94,356 100,000 53,594 50,000 29,006 1,526 0 2009 2010 2011 2012 2013 2014 Note: Analysis excludes 7,528 intracompany transfers. Source: SIGTARP analysis of Treasury HAMP Servicing Transfer Data. Through March 2016, Treasury data show that 266,995 mortgages in a HAMP trial or permanent modification had been transferred, of which 1,768 took place in 2016. This compares to 108,806 HAMP servicing transfers in 2013, the year with the most HAMP servicing transfer activity. According to Treasury’s data, three firms—Ocwen, Select Portfolio Servicing, Inc., and Nationstar Mortgage, LLC—acquired the servicing for 181,382 HAMP loans, or 68% of the total number transferred. Ocwen, alone, acquired 117,227 loans, 44% of the total number transferred. Table 4.7 provides detail on HAMP mortgage servicing transfers, showing the number of transfers between the top ten selling and acquiring servicers. For more details on HAMP mortgage servicing transfers, see “HAMP Mortgage Servicing Transfers,” in SIGTARP’s April 2015 Quarterly Report, pages 142-147 99 100 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.7 of To ta l Pe rc en ta ge To ta l en O cw BU YE RS Lo an Se rv ic Se in Se le g, rv ct LL ic Po C in r g, t f o In lio N c. at io ns ta r M or tg ag Ba e As nk LL so o C ci f A at m io e n ri ca B ,N Se ayv at rv iew io na ic in Lo l g a LL n C S Se pec rv ia ic liz in ed g, LL Loa C n JP M or ga n Ch as e Ru Ba M sh nk an m ,N ag or A em e L en oa tS n Fa er y vi Se ce rv s ic LL in C g LL N C db ew Se a P rv Sh en ic el n F in lp i g oi na nt nc O th M ia er or l, tg LL ag C e HAMP SERVICING TRANSFERS – TOP TEN BUYERS AND SELLERS SELLERS 1,068 11,649 15,679 — 1,948 4,504 14 297 304 1,164 6,706 43,333 16% American Home Mortgage Servicing, Inc. Bank of America, N.A. 27,665 — — — 11 7 — 9 11 — 64 27,767 10% 2,323 27,703 10% GMAC Mortgage, LLC 24,323 52 — 5 138 840 3 3 16 JPMorgan Chase Bank, N.A. 10,950 9,676 74 3 2,871 1,272 — 17 37 676 585 26,161 10% OneWest Bank 18,346 — — — — 1,162 — — — — 3 19,511 7% Saxon Mortgage Services, Inc. 17,254 28 — — 29 378 — — — — 50 17,739 7% CitiMortgage, Inc. 13 2,038 18 2 3,868 29 1 2,368 1,095 2 2,783 12,217 5% 11,592 — — — — 100 — — — — 78 11,770 4% Aurora Loan Services, LLC — 192 10,818 — 11 — — — — — 65 11,086 4% Wilshire Credit Corporation — — 9 8,938 — — — — — — 31 8,978 3% 23% Litton Loan Servicing, LP Other Grand Total Percentage of Total 6,016 9,342 4,580 9,796 2,751 3,305 7,357 2,368 3,150 2,293 9,772 60,730 117,227 32,977 31,178 18,744 11,627 11,597 7,375 5,062 4,613 4,135 22,460 266,995 44% 12% 12% 7% 4% 4% 3% 2% 2% 2% 8% Note: Analysis excludes 7,528 intracompany transfers registered in Treasury’s servicing transfers data. Source: SIGTARP Analysis of Treasury HAMP Data. According to Treasury’s data, the firms most active in acquiring HAMP mortgage servicing through transfers have changed over time. In the first two years of the program, large bank servicers were among the most active acquirers of HAMP mortgage servicing. In 2009 and 2010, Wells Fargo Bank, NA and Bank of America, NA, respectively, led all servicers in the acquisition of HAMP mortgage servicing; by contrast, non-bank servicer Ocwen Loan Servicing, LLC (“Ocwen”) was the most active receiver of HAMP mortgage servicing transfers in each of the next four years through 2014. According to Treasury data, Specialized Loan Servicing, LLC has been the most active acquirer of HAMP mortgage servicing transfers thus far in 2016. Payment Increases on HAMP–Modified Mortgages Most homeowners who received HAMP permanent mortgage modifications saw the interest rates on their loans cut in order to reduce their monthly payments and make their mortgages more affordable and sustainable over the long term.80 After five years, a homeowner’s interest rate can increase, stepping up incrementally by 1% per year until it reaches the rate prevailing at the time the homeowner entered into their trial period. Beginning in 2014 homeowners in HAMP have seen their interest rates rise and monthly mortgage payments go up this year, some by as much as $1,788 per month.81 QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 TABLE 4.8 HAMP TIER 1 PERMANENT MODIFICATIONS WITH SCHEDULED PAYMENT INCREASES BY YEAR, AS OF 2/29/2016 Year Modified Total Active Permanent Modifications Permanent Modifications with Scheduled Payment Increases Interest Ratea Median Increase Monthly Paymenta 2010 $731 5.00% 6.50% 2.91% $1,002 180,725 After Modification 2.00% 5.00% $764 6.38% $1,451 After Modification 2.00% $806 2.75% After All Increases 2013 2.00% $793 3.88% 6.00% $960 49,742 After Modification 2.00% 3.50% 6.13% $1,314 After Modification 2.00% $761 2.00% $739 3.88% 5.88% $897 After Modification 2.00% 4.00% 6.38% $152 $1,425 After Modification 2.00% $777 After All Increases 705,722 $189 $1,229 Before Modification 856,765 5,399 After Modification 1.75% $961 $149 $1,273 After All Increases All Years 8,501 6.00% After All Increases 2016 4.25% Before Modification 33,605 2.25% $941 After All Increases 51,248 $157 $777 1.50% Before Modification 2015 $230 $1,407 Before Modification 70,393 76,905 After Modification $248 $1,458 1.63% $1,048 After All Increases 2014 112,486 6.25% After All Increases 100,534 4.63% Before Modification 135,166 2.50% $1,025 Before Modification 2012 $258 $1,451 Before Modification 201,726 234,583 2.00% Median After All Increases 2011 251,370 After Modification Median Increase $1,421 After All Increases 24,229 6.50% Before Modification 25,875 Median Before Modification 2009 Modification Status $724 4.50% 1.88% 2.25% $888 $999 $150 $205 Notes: a Analysis of HAMP permanent modifications with scheduled interest rate and payment increases excludes 55,472 HAMP permanent modifications with incomplete records. Source: SIGTARP analysis of Treasury HAMP data. 101 102 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM As shown in Table 4.8, 705,722 of the 856,765 (82%) homeowners who had active HAMP Tier 1 permanent modifications as of February 29, 2016 are scheduled for or have experienced these interest rate and payment increases.82 These homeowners saw their median interest rate for these loans drop from 6.38% to 2.0% and their median monthly payment drop from $1,425 to $777.83 HAMP permanent modifications reduced the median interest rate for these homeowners’ loans to 2% and their median monthly payment to $777.84 The scheduled payment increases will cause their median interest rate to rise to 4.5% and their median payment to increase to $999.85 Some homeowners could eventually see their mortgage payments increase by $1,788 per month; and after all payment increases, the highest mortgage payment any homeowner would pay per month would be $8,276.86 As of February 29, 2016, according to Treasury data, 287,439 homeowners in active HAMP modifications saw their first payment increase and an additional 152,098 will see their payments increase by the end of 2016.87 Homeowners in All States Will Be Affected by Payment Increases Homeowners in all states will experience payment increases, however homeowners in four states account for more than half of the HAMP permanent modifications scheduled for interest rate and payment increases: California, Florida, New York, and Illinois.88 Homeowners in 11 jurisdictions face mortgage payment increases that are more than the $205 national median: California, Hawaii, Maryland, Massachusetts, Nevada, New Jersey, New York, Utah, Virginia, Washington, and Washington, DC.89 While 82% of homeowners nationally with HAMP-modified mortgages face scheduled interest rate and payment increases, that percentage is even higher in 16 jurisdictions: Arizona, California, Hawaii, Illinois, Massachusetts, Minnesota, Nevada, New Hampshire, New Jersey, New York, Oregon, Puerto Rico, Rhode Island, Utah, Washington, and Washington, DC.90 For state by state detail of scheduled HAMP payment and interest increases, refer to Appendix D.4. Homeowners Who Have Redefaulted on HAMP Permanent Modifications or Are at Risk of Redefaulting As of March 31, 2016, 522,687 homeowners fell three months behind in payments and redefaulted out of the program – often into a less advantageous private sector modification or, even worse, into foreclosure.91 So far in 2016 there were only 24,329 new modifications, while there were 15,328 redefaults. Additionally, as of March 31, 2016, 83,095 (8% of active HAMP permanent modifications) had missed one to two monthly mortgage payments and, thus, are at risk of redefaulting out of the program.92 The likelihood of homeowners redefaulting on their HAMP modifications increases as their modifications age, with homeowners redefaulting on the oldest HAMP permanent modifications at a rate of 60%.ix About half of all homeowners who received a HAMP permanent modification received it in 2009 and 2010. As ix According to Treasury, Treasury’s calculation of redefault rates may exclude some modifications due to missing or invalid data. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 of January 2016, homeowners who received HAMP permanent modifications in 2009 redefaulted at rates ranging from 55% to 60%, and homeowners who received HAMP permanent modifications in 2010 redefaulted at rates ranging from 45% to 53%.93,x According to a Treasury survey of 20 servicers, as of February 29, 2016, 23% of homeowners that redefaulted in HAMP moved into the foreclosure process, 12% lost their home via a short sale or deed-in-lieu of foreclosure, and 28% received an alternative (private sector) modification.94 Servicer Redefault Rates As of March 31, 2016, of 1,372,028 homeowners’ HAMP permanent modifications currently serviced by 10 of the largest servicers, 442,232, or 32%, subsequently redefaulted, as shown in Table 4.9. x he most recent HAMP redefault data provided to SIGTARP by Treasury only covers through January 2016 and does not account for T modifications that redefaulted after 60 months. 103 104 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.9 HOMEOWNERS’ HAMP PERMANENT MODIFICATIONS AND REDEFAULTS CURRENTLY WITHIN SERVICERS’ PORTFOLIOS, BY SERVICER, AS OF 3/31/2016 Permanent Modifications Permanent Modifications Redefaulted Percentage of Permanent Modifications Redefaulted Ocwen Loan Servicing, LLCa 318,553 115,157 36.2% Wells Fargo Bank, N.A. 213,688 62,550 29.3% Nationstar Mortgage LLC 195,096 52,110 26.7% JPMorgan Chase Bank, N.A. 174,185 47,856 27.5% Select Portfolio Servicing, Inc. 111,607 45,272 40.6% Bank of America, N.A.d 105,677 34,299 32.5% Seterus Incorporated 75,667 30,423 40.2% Ditech Financial LLCe 108,958 29,558 27.1% CitiMortgage Inc 42,199 13,755 32.6% Specialized Loan Servicing LLC 26,398 11,252 42.6% b c Other 218,024 80,455 36.9% Total 1,590,052 522,687 32.9% Notes: HAMP include HAMP Tier 1 and Tier 2 modifications, including those that received assistance under the Home Price Decline Protection (“HPDP”) and Principal Reduction Alternative (“PRA”) programs. Includes both TARP and GSE modifications. Includes modifications listed by the current servicer of the loan. a Ocwen Loan Servicing, LLC includes the former Litton Loan Servicing, LLC, GMAC Mortgage, LLC, and Homeward Residential. b Wells Fargo Bank, N.A. includes Wachovia Bank, NA and Wachovia Mortgage, FSB. c JPMorgan Chase Bank, N.A. includes EMC Mortgage Corporation. d Bank of America includes the former BAC Home Loans Servicing LP, Home Loan Services, and Wilshire Credit Corporation. e Formerly GreenTree Servicing LLC. Source: Treasury, “HAMP 1MP: Program Volumes - Combined Tier 1/Tier 2: Top 25 HAMP Servicers – March 2016,” accessed 4/21/2016. Four servicers account for more than half of homeowners’ HAMP permanent modifications that redefaulted: Ocwen Loan Servicing, LLC, with 115,157 homeowners’ permanent modifications redefaulted; Wells Fargo Bank, N.A., with 62,550 homeowners’ permanent modifications redefaulted, Nationstar Mortgage LLC, with 52,110 homeowners’ permanent modifications redefaulted and JPMorgan Chase Bank, NA, with 47,856 homeowners’ permanent modifications redefaulted.95 Of the 10 largest servicers participating in HAMP, the three with the highest percentage of homeowners’ HAMP permanent modifications that redefaulted were Specialized Loan Servicing LLC, with 42.6% of homeowners’ permanent modifications redefaulted; Select Portfolio Servicing, Inc., with 40.6% of homeowners’ permanent modifications redefaulted; and Seterus Incorporated, with 40.2% of homeowners’ permanent modifications redefaulted, as compared with the average for the 10 of 32.2%.96 Redefaults: Impact on Taxpayers Funding TARP Taxpayers have lost about $2 billion in TARP funds paid to servicers and investors as incentives for 276,547 homeowners’ non-GSE, HAMP (Tier 1) permanent QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 mortgage modifications that redefaulted.97 As of March 31, 2016, Treasury has distributed $10.7 billion in TARP funds for 779,288 homeowners’ non-GSE, HAMP (Tier 1) permanent modifications.98 According to Treasury, $5.9 billion of that was designated for investor incentives, $2.4 billion for servicer incentives, and $2.3 billion for homeowner incentives.99 (Homeowner incentives are paid to servicers that, in turn, apply the payment to a homeowner’s mortgage). According to Treasury, 19% of those funds were paid for incentives on homeowners’ HAMP permanent modifications that later redefaulted.100 Table 4.10 shows payments for homeowners’ HAMP permanent modifications (active, redefaulted, and paid off mortgages) that are currently within servicers’ portfolios. 105 106 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.10 TARP INCENTIVE PAYMENTS ON HOMEOWNERS’ HAMP PERMANENT MODIFICATIONS CURRENTLY WITHIN SERVICERS’ PORTFOLIOS, AS OF 3/31/2016 ($ MILLIONS) TARP Incentive Payments for Permanents Active Servicer Name Ocwen Loan Servicing, LLCa TARP Incentive Payments for Permanents Redefaulted TARP Incentive Payments for Permanents Paid Off Total TARP Incentive Payments for Permanents All Percentage of Total TARP Incentive Payments for Permanents Redefaulted $2,365.6 $622.3 $87.1 $3,107.5 20% 711.7 292.4 21.1 1,027.4 28% Wells Fargo Bank, N.A.d Select Portfolio Servicing, Inc. 1,347.6 257.5 77.5 1,688.1 15% JPMorgan Chase Bank, NAb 1,321.6 191.9 55.4 1,576.7 12% Nationstar Mortgage LLCe 642.2 143.2 24.9 810.2 18% Bank of America, N.A. 673.1 112.2 31.9 819.0 14% c Specialized Loan Servicing LLC 137.6 71.5 3.7 213.0 34% CitiMortgage Inc 235.9 46.6 17.2 300.2 16% Bayview Loan Servicing LLC 221.6 34.9 2.4 259.8 13% 64.5 27.4 2.3 94.5 29% Other 515.9 204.8 34.9 756.4 27% Total $8,237.2 $2,004.4 $358.4 $10,653.0 19% Carrington Mortgage Services, LLC f Notes: Total incentive payments by the current status of the permanent modification (active, redefaulted, or paid off) is broken out in the table by the current servicer of the loan. The incentive payment totals may not tie to the actual amount paid to the servicer as servicing transfers are not taken into account when the current servicer on the loan is used. Totals shown here exclude payments and/or drafts performed for modifications that are not currently Permanent Modifications. Totals shown here include payments under the HAMP Tier 1, Home Price Decline Protection (“HPDP”) and Principal Reduction Alternative (“PRA”) programs tied to these loans. Figures do not include TARP funded incentives on GSE loans. a Ocwen Loan Servicing, LLC includes the former Litton Loan Servicing, LLC, GMAC Mortgage, LLC, and Homeward Residential. b JPMorgan Chase Bank, NA includes EMC Mortgage Corporation. c Bank of America N.A. includes the former Countrywide Home Loans Servicing, BAC Home Loans Servicing LP, Home Loan Services, and Wilshire Credit Corporation. d Wells Fargo Bank, N.A. includes Wachovia Bank, NA and Wachovia Mortgage, FSB. e Nationstar Mortgage LLC includes MorEquity, Inc and the former Aurora Loan Services LLC. f Totals include $52.9 million on modifications that the servicer classified as “withdrawals.” Source: Treasury, response to SIGTARP data call, 4/8/2016. More than half of TARP funds that Treasury spent for HAMP permanent modifications that redefaulted were for mortgages currently serviced by three servicers, Ocwen Loan Servicing, LLC, Select Portfolio Servicing, Inc., and Wells Fargo Bank, N.A. (listed in Table 4.10).101,xi Approximately 90% of TARP funds Treasury spent for HAMP permanent modifications that redefaulted were for mortgages currently serviced by 10 servicers (listed in Table 4.10).102 Redefaults: Impact on States Homeowners are redefaulting throughout the nation. In most states at least 35% of homeowners in the HAMP program have redefaulted on their modifications.103 Table 4.11 shows a state level breakdown of the number of homeowners with HAMP permanent modifications, the number of homeowners with active permanent modifications, the number who have redefaulted on modifications, and the redefault rates. xi Total incentive payments by the current status of the permanent modification (active, redefaulted, or paid off) is broken out in the table by the current servicer of the loan. The incentive payment totals may not tie to the actual amount paid to the servicer as servicing transfers are not taken into account when the current servicer on the loan is used. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 TABLE 4.11 REDEFAULTED HAMP PERMANENT MODIFICATIONS, BY STATE, CUMULATIVE AS OF 3/31/2016 Alabama Alaska Arizona Permanent Modifications Active Modifications Redefaulted Modifications Redefault Rate 8,938 4,395 3,951 44% 682 374 227 33% 52,890 29,611 19,463 37% Arkansas 3,388 1,745 1,366 40% California 330,693 219,713 89,411 27% Colorado 18,795 10,850 5,428 29% Connecticut 20,214 11,536 7,901 39% Delaware 4,768 2,532 2,004 42% District of Columbia 2,527 1,437 876 35% Florida 178,046 111,534 58,360 33% Georgia 52,067 29,494 19,709 38% Guam 15 10 3 20% Hawaii 5,448 3,456 1,543 28% Idaho 5,172 2,970 1,703 33% Illinois 75,856 44,150 28,878 38% Indiana 14,266 7,456 5,806 41% Iowa 3,674 1,744 1,573 43% Kansas 3,617 1,836 1,453 40% Kentucky 5,813 2,981 2,400 41% Louisiana 9,174 4,540 4,060 44% Maine 4,361 2,298 1,784 41% Maryland 47,159 27,198 17,681 37% Massachusetts 34,850 20,045 12,661 36% Michigan 40,299 22,996 14,214 35% Minnesota 21,717 12,066 8,010 37% Mississippi 5,660 2,734 2,602 46% Missouri 14,985 7,553 6,396 43% Montana 1,575 877 475 30% Nebraska 2,102 1,011 861 41% 31,550 17,701 12,141 38% Nevada New Hampshire New Jersey New Mexico 6,566 3,543 2,569 39% 52,612 29,454 21,061 40% 5,033 2,905 1,805 36% New York 77,678 49,800 25,075 32% North Carolina 27,514 14,606 11,003 40% Continued on next page 107 108 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM REDEFAULTED HAMP PERMANENT MODIFICATIONS, BY STATE, CUMULATIVE AS OF 3/31/2016 (CONTINUED) Permanent Modifications Active Modifications Redefaulted Modifications Redefault Rate 226 114 74 33% 31,171 17,148 12,202 39% 3,707 1,832 1,567 42% Oregon 15,761 9,450 4,906 31% Pennsylvania 33,970 18,136 14,067 41% Puerto Rico 4,575 3,109 1,272 28% 7,302 4,152 2,834 39% 14,094 7,607 5,530 39% North Dakota Ohio Oklahoma Rhode Island South Carolina South Dakota 520 247 187 36% Tennessee 16,040 7,967 6,917 43% Texas 41,193 22,295 15,585 38% Utah 11,717 6,597 3,722 32% 1,355 756 499 37% Vermont Virgin Islands 13 10 3 23% Virginia 32,931 19,393 11,277 34% Washington 30,322 18,313 9,838 32% West Virginia 2,007 1,036 821 41% 14,161 7,308 5,916 42% 684 335 243 36% 1,431,453 852,956 491,913 34% Wisconsin Wyoming Total Notes: Includes GSE and non-GSE modifications, excludes permanent modifications paid off. Source: Treasury, “HAMP 1MP: Program Volumes Supplemental - Tier 1: State - March 2016,” accessed 4/21/2016. HAMP Tier 2 Effective June 1, 2012, HAMP Tier 2 expanded HAMP to allow for modifications on mortgages of non-owner-occupied “rental” properties that are tenant-occupied or vacant.104 HAMP Tier 2 also allows homeowners with a wider range of debtto-income situations to receive modifications, and may be used to provide assistance to homeowners that have, or are at risk of, redefaulting in HAMP Tier 1 Modifications.105 Homeowners that meet basic eligibility criteria, but are not eligible for a HAMP Tier 1 modification, are evaluated for HAMP Tier 2 if their servicer and investor/ lienholder participates. When considering a mortgage for HAMP Tier 2, the servicer will apply the following actions to determine whether the modification will result in a payment that is between 25-42% of the homeowner’s monthly income and is no greater than the homeowner’s payment before the modification.xii xii ervicers may modify loans with a post modification payment as low as 10% or as high as 55% under HAMP Tier 2, as long as the S threshold is consistently applied across all loans they service. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 1. Add any unpaid interest and fees to the outstanding balance; 2. Change the interest rate to the prevailing rate for a 30-year conforming fixed interest rate mortgage less 50 basis points;xiii 3. Extend the term to up to 40 years; 4. At the servicer’s option, defer the due date and cease charging interest on a portion of the outstanding balance (principal forbearance) so that the interest bearing portion of the mortgage is no more than 115% of market value of the property at the time of the evaluation. If these steps sufficiently reduce the homeowner’s payment and the modification passes the NPV test, the homeowner would be offered a HAMP Tier 2 Trial Period Plan.106 According to Treasury, as of March 31, 2016, a total of 60 of the 76 servicers with active MHA servicer agreements had fully implemented HAMP Tier 2, including all of the 10 largest servicers.107 According to Treasury, as of March 31, 2016, it had paid $729 million in TARP funds for incentives on 158,599 HAMP Tier 2 permanent modifications, 125,863 of which remain active.108 Approximately 22,593 of homeowners in active HAMP Tier 2 permanent modifications were previously in HAMP Tier 1 permanent modifications.109 Figure 4.7 shows HAMP Permanent Modification Activity by Quarter and Tier. xiii rior to July 1, 2014 the post modification interest rate used on HAMP Tier 2 modifications was the 30-year conforming fixed interest P rate mortgage plus 50 basis points, effective July 1, 2014 Treasury reduced this by 50 basis points, effective January 1, 2015 the rate was further reduced by 50 basis points. As a result, the post modification interest rate for Tier 2 modifications is now the 30-year conforming fixed interest rate mortgage less 50 basis points. Treasury, “Supplemental Directive 12-04: MHA Dodd-Frank Certification, Borrower Identity and Owner-Occupancy Verification,” 7/13/2012, www.hmpadmin.com/portal/news/docs/2012/ hampupdate071312.pdf, accessed 4/1/2016; Treasury, “Supplemental Directive 12-02, MHA Extension and Expansion,” 3/9/2013, www.hmpadmin.com/portal/programs/docs/hamp_servicer/sd1202.pdf, accessed 4/1/2016; Treasury, “Making Home Affordable Program Handbook for Servicers of Non-GSE Mortgages, Version 5.0,” 1/6/2016, www.hmpadmin.com/portal/programs/docs/ hamp_servicer/mhahandbook_5.pdf, accessed 4/1/2016. 109 110 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.7 HAMP PERMANENT MODIFICATION STARTED BY QUARTER AND TIER, AS OF 3/31/2016 200,000 150,000 100,000 50,000 0 Q2 Q3 Q4 Q1 2009 Q2 Q3 Q4 Q1 Q2 2010 HAMP Tier 1 Q3 Q4 Q1 Q2 2011 Q3 Q4 Q1 2012 Q2 Q3 2013 Q4 Q1 Q2 Q3 Q4 2014 Q1 Q2 Q3 Q4 2015 Q1 2016 HAMP Tier 2 Note: Includes TARP and GSE permanent modifications. Sources: Treasury, HAMP 1MP Programs Volumes Supplemental – Modification Effective Month by Tier – March 2016, accessed 4/21/2016. As shown in Figure 4.7, HAMP Tier 2 activity has increased relative to HAMP Tier 1 over the past few years. During the last 12 months 54,332 homeowners obtained HAMP Tier 2 modifications compared to 49,142 homeowners that received HAMP Tier 1 modifications in that period. HAMP Tier 2 mortgage modification activity and property occupancy status is shown in Table 4.12. TABLE 4.12 HAMP TIER 2 FIRST LIEN MODIFICATION ACTIVITY AND OCCUPANCY STATUS, AS OF 3/31/2016 Property Type Borrower Occupied Trials Started Trials Cancelled Trials Active Trials Converted Permanent Permanents Disqualified Permanents Paid-Off Permanents Active 176,932 12,681 14,994 149,257 29,165 1,761 118,275 Tenant Occupied 9,675 637 876 8,162 1,397 125 6,640 Vacant 1,431 115 136 1,180 212 20 948 188,038 13,433 16,006 158,599 30,774 1,906 125,863 Total Source: Treasury, “HAMP 1MP Program Volumes – Tier 2 Property Type – March 2016,” accessed 4/21/2016. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 According to Treasury data, of the 188,038 HAMP Tier 2 trial mortgage modifications started, 176,932 (94%), were for owner-occupied properties; 9,675 (5%), were for tenant-occupied properties (as represented by homeowner at time of application), and 1,431 (1%) were for vacant properties.110 In the quarter ending March 31, 2016, 14,345 Tier 2 trials were started (down from 15,299 in the preceding quarter), 13,871 trials converted to permanent modifications (up from 12,657 in the preceding quarter), and 3,890 Tier 2 modifications redefaulted (down from 4,890 in the preceding quarter). As of March 31, 2016 there were 125,863 homeowners active in HAMP Tier 2 trial modifications, compared to 116,202 at the previous quarter end.111 Streamline HAMP Effective January 1, 2016 Streamline HAMP became active. Streamline HAMP removes some of the eligibility requirements, such as income and front-enddebt-to-income ratios, and lessens the requirements for homeowners to provide documentation. The program is available to homeowners at least 90 days delinquent on their mortgage. Treasury requires large servicers to have a policy for evaluating homeowners for this program, but it is optional for smaller servicers. According to Treasury, Streamline HAMP is intended to reach more homeowners, and get them into HAMP more efficiently, than other HAMP programs. As of March 31, 2016, Treasury has not reported any Streamline HAMP activity. Home Affordable Unemployment Program (“UP”) In July 2010, Treasury created UP, under which eligible unemployed homeowners seeking HAMP assistance can have their mortgage payments, for up to 12 months, temporarily postponed or reduced to no more than 31% of their monthly gross income (including unemployment benefits). Homeowners can apply for assistance under the program until December 31, 2016.112 Homeowners who are approved to receive unemployment benefits who apply for HAMP, and are not more than 12 months delinquent, must be evaluated for and offered UP if eligible, regardless of the borrower’s monthly mortgage payment ratio or a prior payment default on a HAMP trial or permanent modification.113 Alternatively, servicers may evaluate unemployed borrowers for HAMP and offer a HAMP trial period plan instead of an UP forbearance plan if, in the servicer’s business judgment, HAMP is the better loss mitigation option.114 Re-employed borrowers with reduced income still facing a hardship must be considered for HAMP. If the borrower is eligible, any payments missed prior to and during the period of the UP forbearance plan are capitalized as part of the normal HAMP modification process.115 If the UP forbearance period expires and the borrower is ineligible for HAMP, the borrower may be eligible for MHA foreclosure alternatives, such as HAFA.116 As of February 29, 2016, which is the latest data available from Treasury, 45,326 homeowners had started a UP forbearance plan—less than one-third of the 170,714 homeowners who had applied for UP relief.117 As of February 29, For more information on HAMP UP, see ‘Home Affordable UP: A Highly Underutilized Program,’ in SIGTARP’s October 2014 Quarterly Report, pages 136-137, and SIGTARP’s October 2013 Quarterly Report, pages 95-96. 111 112 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 2016, 1,518 homeowners (just over 3% of those who had started an UP plan) were actively participating in the program.118 The number of homeowners in an active UP plan has declined in seven of the last 12 months and, as of February 29, 2016, was less than half of the corresponding number as of February 28, 2015.119 TABLE 4.13 CUMULATIVE HOMEOWNER HAMP UP ACTIVITY, AS OF 2/29/2016 Dec. 2010 Homeowners Requesting UP Assistancea UP Forbearance Plans Started Completed UP Forbearance Plansb Active UP Forbearance Plans Dec. 2011 Dec. 2012 Dec. 2013 Dec. 2014 Dec. 2015 Feb. 2016 24,402 66,842 98,270 125,557 145,622 167,794 170,714 6,961 18,403 30,525 38,445 42,142 44,990 45,326 584 8,835 14,583 20,250 22,628 24,145 24,332 5,967 6,113 7,786 5,482 3,671 1,548 1,518 Notes: a “ Homeowners Requesting UP Assistance” is the sum of “Total UP Forbearance Plans Started” and “Total UP Forbearance Requested & Denied” as reported by Treasury. b U nder Treasury guidance, “completed” UP plans include situations where the “forbearance plan term (including any extensions) have expired, where the borrower has been re-employed, or where the borrower has moved into another forbearance plan, such as a Federal Declared Disaster (FDD) or Hardest Hit Fund plan.” Source: Treasury, Home Affordable Unemployment Program Non-GSE Forbearance Plans Worksheets, various dates. As shown in Table 4.13, as of February 29, 2016, approximately half (54%, or 24,332) of homeowners completed their UP forbearance plan successfully, while 43% (19,476) fell out of UP.120 According to Treasury data, fewer than one out of every five homeowners who started an UP plan went on to receive a HAMP modification (including 5,154 homeowners who successfully completed their UP plans, and 3,192 who did not).121 Servicer participation in UP is voluntary—there is no TARP funding for UP, and HAMP servicers are not paid for participating— which may in part explain the program’s low utilization. Through February 29, 2016, only 3,681 of the homeowners who obtained UP assistance had previously been in a HAMP modification.122 Deficiency Judgment: Court order authorizing a lender to collect all or part of an unpaid and outstanding debt resulting from the borrower’s default on the mortgage note securing a debt. A deficiency judgment is rendered after the foreclosed or repossessed property is sold when the proceeds are insufficient to repay the full mortgage debt. Home Affordable Foreclosure Alternatives (“HAFA”) Starting in April 5, 2010,xiv Treasury began providing incentives to servicers, homeowners, and investors to encourage short sales or deeds-in-lieu of foreclosure as alternatives to foreclosure.123 Under HAFA, the servicer forfeits the ability to pursue a deficiency judgment against a borrower when the proceeds from the short sale or deed-in-lieu are less than the outstanding amount on the mortgage. In exchange for facilitating a HAFA transaction, the program also pays servicers up to $1,500, and reimburses investors up to $8,000 for a portion (currently two-thirds) of payments made to subordinate lienholders in exchange for releasing the lien and the borrower’s liability.124 HAFA may be used to help prevent foreclosures on primary residences, investment properties, or second/vacation homes. Relocation assistance may be paid to qualifying homeowners or tenants as long as the homeowner or tenant resided in the property at the time HAFA assistance xiv Treasury announced that some servicers could implement HAFA before April 5, 2010. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 was requested and was required to vacate as a condition of the short sale or deed-in-lieu.xv In October 2014, Treasury announced an increase from $3,000 to $10,000 in the relocation assistance payable to eligible homeowners and tenants who are required to vacate the property as a condition to the short sale or deedin-lieu transaction for HAFA transactions closing after February 1, 2015.125 If the homeowner qualifies for HAFA relocation assistance, they are paid when the short sale or deed-in-lieu is closed. If the property was only occupied by a tenant and not the homeowner, then the servicer must provide the relocation assistance directly to the tenant, with no proceeds going to the homeowner.126 Through March 31, 2016, HAFA has assisted 218,037 homeowners, approximately 203,886 with short sales and 14,151 with deed-in-lieu transactions.127 According to Treasury’s data, in the twelve months ended March 31, 2016, just 21,033 HAFA transactions have been completed, down from 26,884 in the twelve months ended March 31, 2015. HAFA transactions have decreased quarter over quarter in 7 of the last 10 quarters.128 According to Treasury’s data, 77% of HAFA transactions through March 31, 2016, involved relocation assistance, while 23% did not.129 As of that date, Treasury had paid $1.2 billion in incentives to borrowers, servicers and investors.130 FIGURE 4.9 HAFA TRANSACTION ACTIVITY, AS OF MARCH 31, 2015 250,000 190,001 200,000 216,134 218,037 163,379 150,000 117,653 100,000 52,247 50,000 0 7,369 2010 44,878 65,406 45,726 26,622 26,133 1,903 2011 2012 2013 2014 2015 2016 Annual Transactions Cumulative Transactions Source: Treasury, HAFA Program Inventory – Loan Agreement Issue Month – March 2016," accessed 4/21/2016. xv For deed-in-lieu transactions, the servicer can allow the borrower to remain in the home as a renter (referred to as a “deed-for lease”) or to repurchase the property later, but such transactions are not eligible for relocation assistance. Treasury, “Making Home Affordable Program Handbook for Servicers of Non-GSE Mortgages, Version 5.0,” 1/6/2016, www.hmpadmin.com/portal/ programs/docs/hamp_servicer/mhahandbook_5.pdf, accessed 4/1/2016. FIGURE 4.8 HAFA TRANSACTIONS BY TYPE, AS OF MARCH 31, 2016 4% 3% 20% 74% Deed-in-lieu with Relocation Compensation Deed-in-lieu without Relocation Compensation Short Sale with Relocation Compensation Short Sale without Relocation Compensation Source: Treasury, “HAFA Program Inventory – Program Type – March 2016,” accessed 4/21/2016. 113 114 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Housing Finance Agency Hardest Hit Fund (“HHF”) In February 2010, the Administration launched the Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (“Hardest Hit Fund” or “HHF”) to use $7.6 billion in TARP funds for “innovative measures to help families in the states that have been hit the hardest by the aftermath of the housing bubble.”131 In February 2016, Treasury announced that $2 billion in TARP funds would be reallocated to HHF, increasing the total HHF amount to $9.6 billion.132 Of the $2 billion allocated, $1 billion was allocated immediately to 18 of 19 states participating in HHF.xvi This TARP-funded housing support program was to be developed and administered by state housing finance agencies (“HFAs”) in 18 states and the District of Columbia with Treasury’s approval and oversight.133,xvii Treasury picked states that it deemed to have significant home price declines and high unemployment rates.134 Program Assistance As of December 31, 2015, Treasury has approved the use of HHF funds to provide three types of assistance: • homeowner assistance to help at-risk homeowners, largely unemployment/ underemployment assistance, in HHF states avoid foreclosure and remain in their homes; • homebuyer assistance to help buyers purchase properties in HHF states; and • demolition assistance to help state HFAs demolish vacant and abandoned properties (blight elimination). As of December 31, 2015, 74.9% of the HHF funds spent by state HFAs went to unemployment assistance, including to help pay past-due amounts on a mortgage.135 As SIGTARP found in its April 2012 audit, these were the only types of assistance for which the Government sponsored enterprises (“GSE”s) previously directed servicers to participate. The additional HHF assistance provided to homeowners can be broken down to 21.5% for mortgage modification assistance, including principal reduction assistance, 0.4% for second-lien reduction assistance, and 0.1% for transition assistance.136 As of December 31, 2015, three state HFAs (Michigan, Ohio, and Indiana) had spent $135.1 million (up from $99.4 million as of the prior quarter) to demolish 9,293 properties under the Blight Elimination Program, representing 2.9% of all HHF expenditures. According to information reported to Treasury by those three state HFAs as of December 31, 2015 (the only ones to report HHF demolition activity to Treasury), HHF Michigan had spent $111.2 million (82% of all Blight spending) to demolish 7,435 properties, HHF Ohio spent $19 million (14% of xvi he 18 states that received additional HHF funding were able to apply for a portion of the remaining $1 billion by submitting their T applicaton to Treasury. Applications were due to Treasury by March 11, 2016. xvii Participating HFAs in HHF are from: Alabama, Arizona, California, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Mississippi, Nevada, New Jersey, North Carolina, Ohio, Oregon, Rhode Island, South Carolina, Tennessee, and Washington, DC. According to Treasury, as of March 31, 2016, there were 80 active HHF programs run by the 19 state HFAs. According to Treasury, nine state HFAs had previously reported that they had stopped accepting applications for assistance from homeowners after determining that their allocated HHF funds would likely be spent on homeowners already approved for HHF assistance (Illinois, Kentucky, Michigan, New Jersey, Rhode Island, Ohio, Oregon, Tennessee and Washington, DC), although, as of March 31, 2016, five of them indicated they were again accepting applications for HHF assistance under select programs (Illinois, Kentucky, New Jersey, Oregon, and Washington, DC). QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 all Blight spending) to demolish 1,588 properties, and HHF Indiana spent $4.9 million (4% of all Blight spending) to demolish 270 properties.137 Two state HFAs, HHF Florida and HHF Illinois have reported spending HHF funds for down payment assistance programs. Florida has spent $10.2 million, less than 0.3% of all HHF expenditures, to assist 687 homebuyers, and Illinois has spent $3.3 million, less than 0.1% of all HHF expenditures, to assist 435 homebuyers under its down payment assistance program.138 FIGURE 4.10 AGGREGATE EXPENDITURES, BY PROGRAM CATEGORY PROGRAM THROUGH DECEMBER 31, 2015 0.4% 2.8% 0.3% 21.5% States’ TARP Allocations and Spending for HHF Of the $9.6 billion in TARP funds available for HHF, as of March 31, 2016, state HFAs collectively had drawn down $6.4 billion (67%), up from $5.8 billion in the prior quarter. As of December 31, 2015, 74.9% of this funding went to unemployment assistance.139 However, as of December 31, 2015, the latest date for which detailed spending data is available from the state HFA Quarterly Financial Reports, which are one quarter behind,xviii only $4.6 billion had been spent on direct assistance to 248,620 individual homeowners; three state HFAs had spent another $135.1 million on blight elimination (which does not directly assist individual homeowners); two state HFA had spent $13.4 million to provide 1,122 homebuyers with down payment assistance. As of December 31, 2015, HHF states had also spent $603.5 million in HHF funds on administrative expenses, held $514.2 million as unspent cash-on-hand, and had an aggregate of $1.8 billion remaining in undrawn funds available for HHF.140 Treasury approves state HFAs’ allocation of their available HHF funds to specific HHF programs in each state, documented in HHF participation agreements entered into between the state HFA and Treasury, and the state HFAs then commit and disburse those funds. According to Treasury, committed program funds are funds that the state HFAs have committed and intend to disburse to homeowners, homebuyers, and others who have been approved to participate in HHF programs. State HFAs vary as to when and how they capture and report funds as committed and, in the financial reports submitted to Treasury, state HFAs record committed funds variously as program assistance, cash-on-hand, or undrawn funds. Generally, state HFAs can only reallocate HHF funds between programs by amending their participation agreements with Treasury. However, for state HFAs that have committed approximately 80% or more of their allocated HHF funds, Treasury has established a “streamlined reallocation process,” which allows those HFAs that Treasury has authorized to use it to reallocate funds among its HHF programs, subject only to getting Treasury’s written approval rather than formally amending their HHF participation agreements. As of March 31, 2016, five state HFAs—Rhode Island, Illinois, Oregon, Ohio, and North Carolina—have been approved to use this streamlined process.141 In the quarter ended March 31, 2016, none of the five states approved for the “streamlined reallocation process” reallocated funds.142 Figure 4.11 shows state uses of TARP funds obligated for HHF by percent, as of December 31, 2015, the most recent figures available. xviii The HFA Quarterly Financial Reports reconcile each type of cash disbursement to funds drawn from Treasury, reporting all expenses based on actual cash disbursements. Cash-on-hand may also include lien recoveries and borrower remittances. 0.1% 59.3% 15.6% Unemployment ($2,815,179,095) Past-Due Payment ($740,366,308) Transition ($6,599,178) Modification ($1,021,351,412) Second-Lien Reduction ($18,277,070) Blight Elimination ($135,122,438) Homebuyer Assistance ($13,438,165) Source: State HFA Quarterly Performance Reports as of December 31, 2015, available via hyperlink from Treasury, “Hardest Hit Fund: State-By State Information”; www.treasury.gov/initiatives/financialstability/TARP-Programs/housing/Pages/ProgramDocuments.aspx, accessed 4/1/2016; Treasury, response to SIGTARP data call, 4/4/2016. For more information on the Blight Elimination Program, please see “The Update on the Hardest Hit Funds Blight Elimination Program” on pages 127–146. For more information on HHF homebuyer assistance, please see pages 122–126. 115 116 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.11 STATE HFA USES OF $7.6 BILLION OF TARP FUNDS AVAILABLE FOR HHF, BY PERCENT, AS OF 12/31/2015 Alabama $162.5 million allocated Arizona $267.8 million allocated California $1,975.3 million allocated Florida $1,057.8 million allocated Georgia $339.3 million allocated Illinois $445.6 million allocated Indiana $221.7 million allocated Kentucky $148.9 million allocated Michigan $498.6 million allocated Mississippi $101.9 million allocated Nevada $194.0 million allocated New Jersey $300.5 million allocated North Carolina $482.8 million allocated Ohio $570.4 million allocated Oregon* $220.0 million allocated Rhode Island $79.4 million allocated South Carolina $295.4 million allocated Tennessee $217.3 million allocated Washington, DC $20.7 million allocated TOTAL $7.6 billion 0 20 40 60 80 Homeowner Assistance Cash-on-Hand Blight Elimination Administrative Expenses Undrawn Funds 100 Homebuyer Assistance Note: State spending figures from each state’s Quarterly Financial Report are as of December 31, 2015, the most recent available, and include actual cash expense disbursements and cash-on-hand (which may include lien recoveries and borrower remittances). * Oregon data reported as percentages of total program and administration expenses, plus cash on hand, reported as of December 31, 2015. The unique structure of certain of Oregon’s HHF programs (which extended new mortgage loans, and then recycled principal and interest received from those loans back into the program) enabled HHF Oregon to report total HHF funds used of $251.2 million as of that date: $199.1 million in homeowner assistance, $35.5 million in administrative expenses, and $16.6 million held as cash-on-hand. Sources: Treasury, Transactions Report-Housing Programs, 3/28/2016; Treasury, responses to SIGTARP data calls. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 Homeowner Assistance in HHF Programs In the beginning of 2011, state HFAs collectively estimated that they would help 546,562 homeowners with HHF.143 Since then, with Treasury’s approval, state HFAs have reduced that to 302,989 homeowners (243,573 fewer homeowners than they estimated helping with HHF in 2011, a reduction of 45%).144 According to Treasury, as of December 31, 2015, state HFAs had spent $4.6 billion to help 248,620 individual homeowners. For the quarter ended December 31, 2015 alone, states spent $201.8 million to help 6,843 homeowners.145 Five state HFAs have reduced their estimates by more than 50%: Illinois (53% reduction), Florida (64% reduction), Nevada (66% reduction), Rhode Island (74% reduction), and Michigan (83% reduction). Homeowners may be counted more than once if they receive assistance from multiple HHF programs. Table 4.14 provides each state HFA’s estimate of the number of homeowners it projects it will help and the actual number of homeowners helped as of December 31, 2015.xix TABLE 4.14 HHF ESTIMATED AND ACTUAL NUMBER OF BORROWERS ASSISTED AND ASSISTANCE PROVIDED BY STATE HFAS AS OF 12/31/2015 Recipient Alabama Arizona Estimated Number of Participating Households to be Assisted by 12/31/2017a Actual Borrowers Receiving Assistance as of 12/31/2015 Assistance Provided as of 12/31/2015b 7,100 4,377 $35,582,463 6,263 4,219 141,591,823 California 73,800 56,203 1,235,822,560 Florida 37,800 24,799 560,400,833 Georgia 12,800 7,441 135,574,929 Illinois 13,500 14,013 340,901,402 Indiana 10,184 6,869 94,095,101 Kentucky 8,241 7,552 99,857,910 Michigan 8,542 29,278 230,615,164 Mississippi 3,500 3,589 62,078,516 Nevada 8,026 5,344 88,408,084 New Jersey 6,845 6,017 229,056,895 North Carolina 19,619 21,100 350,723,589 Ohio 41,201 24,533 425,139,412 Oregon 15,150 11,777 199,057,204 3,413 3,075 64,612,738 18,350 10,373 159,907,838 Rhode Island South Carolina Continued on next page xix rogram participation and homeowners assisted data does not take into account the status of the mortgage (i.e., active, delinquent, P in foreclosure, foreclosed, or sold) of homeowners who received TARP-funded HHF assistance. For more information on HHF, see: SIGTARP’s April 12, 2012, audit report, “Factors Affecting Implementation of the Hardest Hit Fund Program,” and SIGTARP’s July 2014 Quarterly Report, “Treasury Should Use HAMP and HHF Together to Help as Many Homeowners as Possible Avoid Foreclosure,” pages 277-290. 117 118 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM HHF ESTIMATED AND ACTUAL NUMBER OF BORROWERS ASSISTED AND ASSISTANCE PROVIDED BY STATE HFAS AS OF 12/31/2015 (CONTINUED) Recipient Estimated Number of Participating Households to be Assisted by 12/31/2017a Actual Borrowers Receiving Assistance as of 12/31/2015 Assistance Provided as of 12/31/2015b Tennessee 7,355 7,355 $169,983,367 District of Columbia 1,300 706 13,748,499 302,989 248,620 $4,637,158,326 Total Notes: a T otal of the individual program estimates each state HFA provides for all HHF programs (includes highest estimate of a range), which according to Treasury may not necessarily match the number of actual borrowers (unique households) that the states expect to assist because some households may participate in more than one HHF program. The aggregate estimate of homeowners excludes the number of homebuyers the states estimate assisting, and the number of blighted properties to be eliminated. b A ctual cash disbursements for program expenses reported on each state’s Quarterly Financial Report excludes assistance spent on Blight Elimination and Homebuyer Assistance. Sources: Latest HFA Participation Agreements as of 12/31/2015 (subsequent amendments are not included); Fourth Quarter 2015 HFA Performance Data quarterly reports, Quarterly Performance Reports, and HFA Aggregate Quarterly Report; Treasury, response to SIGTARP data call, 4/4/2016. According to Treasury, nine state HFAs had reported that they had previously stopped accepting applications for assistance from homeowners after determining that their allocated HHF funds would be spent on homeowners who already have been approved for HHF assistance: Illinois, Kentucky, Michigan, New Jersey, Ohio, Oregon, Rhode Island, Tennessee, and Washington, DC.146 According to Treasury, however, as of March 31, 2016, five of them indicated they were again accepting applications for HHF assistance under select programs (Illinois, Kentucky, New Jersey, Oregon, and Washington, DC).147 For more information on the challenges facing homeowners seeking HHF assistance, see SIGTARP’s special report, “Homeowners Have Struggled with Low Admission Rates and Lengthy Delays in Getting Help from TARP’s SecondLargest Housing Program—the Hardest Hit Fund,” in its October 28, 2015 Quarterly Report (pages 107-121). HHF Assistance for At-Risk Homeowners: State by State HHF Performance Fewer than half of all homeowners who sought HHF assistance from their state HFA have gotten it, based on a national average as of December 31, 2015 (the latest data available): only 42% of homeowners who requested HHF assistance were admitted.148 Table 4.15 shows the number of homeowners who applied for HHF assistance, the number of homeowners who received assistance, and the homeowner admission rate for each participating state HFA, as of December 31, 2015. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 TABLE 4.15 HHF HOMEOWNER ADMISSION RATE BY HHF STATE, PROGRAM TO DATE, AS OF 12/31/2015 Homeowners That Applied Homeowners That Received Assistance Homeowner Admission Rate 119,257 24,799 20.8% Alabama 18,183 4,377 24.1% Arizona 17,343 4,219 24.3% Georgia 25,457 7,441 29.2% State Florida Nevada 14,191 5,344 37.7% 137,469 56,203 40.9% Oregon 28,332 11,777 41.6% South Carolina 24,443 10,373 42.4% New Jersey 13,515 6,017 44.5% Michigan 60,039 29,278 48.8% Rhode Island 4,833 3,075 63.6% Mississippi 5,613 3,589 63.9% North Carolina 31,724 21,100 66.5% Kentucky 11,162 7,552 67.7% Illinois 20,711 14,013 67.7% Ohio California 34,779 24,533 70.5% Tennessee 9,352 7,355 78.6% Indiana 8,686 6,869 79.1% 867 706 81.3% District of Columbia Sources: Treasury’s Q4 2015 Quarterly Performance Reports, accessed from Treasury’s Hardest Hit Fund – State by State Information website, www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/Pages/Program-Documents.aspx, accessed 4/1/2016; Treasury, “HFA Aggregate Quarterly Report Q4 2015,” no date, www.treasury.gov/initiatives/financial-stability/ reports/Documents/HFA%20Aggregate%20Q42015%20Report.pdf, accessed 4/1/2016. Of the homeowners who applied for HHF assistance from their state HFA, more than one quarter (26%) had their applications denied as of December 31, 2015.149 Table 4.16 shows the number of homeowners who applied for HHF assistance, the number of homeowners whose applications were denied, and the homeowner denial rate for each participating state HFA, as of December 31, 2015.150 119 120 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.16 HHF HOMEOWNER DENIAL RATE BY HHF STATE, PROGRAM TO DATE, AS OF 12/31/2015 Homeowners That Applied Homeowners Denied Assistance Homeowner Denial Rate Arizona 17,343 11,789 68.0% New Jersey 13,515 7,125 52.7% Georgia 25,457 10,030 39.4% South Carolina 24,443 8,547 35.0% State Rhode Island 4,833 1,425 29.5% Michigan 60,039 17,578 29.3% California 137,469 38,128 27.7% Florida 119,257 31,125 26.1% Mississippi 5,613 1,386 24.7% Nevada 14,191 3,013 21.2% Illinois 20,711 4,147 20.0% North Carolina 31,724 5,749 18.1% Kentucky 11,162 1,998 17.9% District of Columbia Ohio Tennessee 867 131 15.1% 34,779 4,881 14.0% 9,352 1,300 13.9% Alabama 18,183 1,734 9.5% Oregon 28,332 2,150 7.6% Indiana 8,686 538 6.2% Sources: Treasury’s Q4 2015 Quarterly Performance Reports, accessed from Treasury’s Hardest Hit Fund – State by State Information website, www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/Pages/Program-Documents.aspx, accessed 4/1/2016; Treasury, “HFA Aggregate Quarterly Report Q4 2015,” no date, www.treasury.gov/initiatives/financial-stability/ reports/Documents/HFA%20Aggregate%20Q42015%20Report.pdf, accessed 4/1/2016. As of December 31, 2015, more than one-quarter (28%) of homeowners who applied for HHF assistance from their state HFA had withdrawn from the application process or had their applications withdrawn by their HFA.151 Table 4.17 shows the number of homeowners who applied for HHF assistance, the number of homeowners whose applications were withdrawn, and the homeowner withdrawal rate for each participating state HFA, as of December 31, 2015.152 QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 TABLE 4.17 HHF WITHDRAWN HOMEOWNER APPLICATIONS BY HHF STATE, PROGRAM TO DATE, AS OF 12/31/2015 Homeowners That Applied Homeowner Applications Withdrawn Homeowner Withdrawal Rate 18,183 11,677 64.2% Oregon 28,332 14,389 50.8% Florida 119,257 49,959 41.9% Nevada 14,191 5,750 40.5% State Alabama Georgia 25,457 7,269 28.6% California 137,469 38,673 28.1% Michigan 60,039 12,133 20.2% South Carolina 24,443 4,883 20.0% Ohio 34,779 5,365 15.4% North Carolina 31,724 4,059 12.8% Kentucky 11,162 1,203 10.8% Illinois 20,711 2,195 10.6% Indiana 8,686 905 10.4% Mississippi 5,613 489 8.7% Tennessee 9,352 697 7.5% Rhode Island Arizona District of Columbia New Jersey 4,833 333 6.9% 17,343 1,127 6.5% 867 27 3.1% 13,515 137 1.0% Sources: Treasury’s Q4 2015 Quarterly Performance Reports, accessed from Treasury’s Hardest Hit Fund – State by State Information website, www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/Pages/Program-Documents.aspx, accessed 4/1/2016; Treasury, “HFA Aggregate Quarterly Report Q4 2015,” no date, www.treasury.gov/initiatives/financial-stability/ reports/Documents/HFA%20Aggregate%20Q42015%20Report.pdf, accessed 4/1/2016. 121 122 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TREASURY OPENS TARP TO HOMEBUYERS APPROVES DOWN PAYMENT ASSISTANCE TO “FIRST-TIME” HOMEBUYERS Beginning in April 2015, Treasury began approving the use of TARP’s HHF funds to provide down payment assistance to homebuyers (“Homebuyer Assistance”), not just homeowners, starting with HHF Florida, which reallocated $50 million to its Down Payment Assistance Program.153,xx Although Treasury had previously rejected a similar proposal from HHF Florida in 2010, Treasury officials told SIGTARP the 2015 proposal was more narrowly focused on preventing foreclosures and took into consideration the state’s declining unemployment rates. For more on SIGTARP’s Recommendations to Treasury, see SIGTARP’s July 2015 Quarterly Report, pages 58-63 and 396-399. Since approving HHF Florida’s request, Treasury has approved five additional state housing finance agencies (“HFAs”) to reallocate a total of $176.2 million in HHF funding to Homebuyer Assistance as of April 1, 2016: HHF Illinois ($30 million), HHF North Carolina ($30 million), HHF Kentucky ($15.5 million), HHF Rhode Island ($2.7 million), and HHF Arizona ($48 million). HHF Florida reported to Treasury that it had provided an average of $14,812 in Homebuyer Assistance to 687 homebuyers as of December 31, 2015 (HHF data on file with Treasury is one quarter behind). As of December 31, 2015, Illinois has reported providing $3.3 million in assistance to 435 homebuyers (an average of $7,500 per homebuyer).154 On April 1, 2016, two states, North Carolina and Kentucky, received Treasury approval for increased allocations, of $15 million and $8.5 million, respectively, to their Down Payment Assistance programs.155 Through Homebuyer Assistance, homebuyers can receive a one-time payment ranging from up to $7,500 to up to $20,000 for down payment and closing costs for their property purchase. Treasury’s approval of Homebuyer Assistance further changes HHF’s use. As with Treasury’s previous expansion of HHF to include the demolition of vacant and abandoned properties (blight elimination), Homebuyer Assistance represents a shift away from providing direct assistance to individual homeowners at risk of losing their homes. TARP for the first time now assists homebuyers rather than at-risk homeowners. As with blight elimination, this new use of TARP and the design of the assistance present vulnerabilities to fraud, waste, and abuse. And, as with blight elimination, SIGTARP promptly recommended to Treasury steps to strengthen TARP against those vulnerabilities, and to facilitate effective oversight.xxi xx Funding was reallocated from Florida’s unemployment assistance and reinstatement assistance programs. xxi SIGTARP, Letter to Treasury, 5/19/2015 (reprinted at SIGTARP, Quarterly Report to Congress, July 29, 2015, Appendix K). QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 “First-Time Homebuyers” Although Treasury’s public statements about this TARP assistance claim it is for first-time homebuyers, it is not limited to those purchasing their first home. Instead, HHF Homebuyer Assistance piggy-backs on existing, non-HHF homebuyer programs in each of the six states. For Homebuyer Assistance, a “first-time homebuyer” is generally defined as someone who has not owned their primary residence in the past three years (unless they qualify for a specific veteran’s or other eligibility exception).xxii According to Treasury, each of the state HFAs will target this assistance to homebuyers in counties hit hard by the housing crisis (as measured by mortgage delinquencies, foreclosures, negative equity, short- and REO sales), and that had a threshold level of new mortgage originations.156 HHF Illinois estimates helping the largest number of homebuyers (4,000), while HHF Kentucky and HHF Rhode Island project helping the fewest: 1,316 and 135 homebuyers, respectively. The table below summarizes additional key features of Homebuyer Assistance in these states. HHF HOMEBUYER ASSISTANCE PROGRAM Program Approved Allocated TARP Funds Homebuyer Assistance Cap Estimated Homebuyers Florida 4/21/2015 $50 million $15,000 3,333 Illinois 7/30/2015 $30 million $7,500 4,000 North Carolina 8/21/2015 $30 million $15,000 2,000 Kentucky 10/28/2015 $15.5 million $15,000 1,316 Rhode Island 11/24/2015 $2.7 million $20,000 135 Arizona 12/18/2015 $48 million $20,000* 2,816 State HFA Total $176.2 million 13,600 * The lesser of 10% of purchase price amount or $20,000. Sources: Each state HFA’s Commitment to Purchase Financial Instrument and HFA Participation Agreement and subsequent amendments, various dates, accessed 4/1/2016; Treasury response to SIGTARP data call, 4/4/2016. TARP Homebuyer Assistance is Not Limited to Low Income Homebuyers Treasury did not limit this TARP assistance to low income homebuyers. Homebuyers with incomes up to nearly double the area median income in certain states can receive these TARP funds. HHF Kentucky, for example, will provide TARP assistance to homebuyers with up to 175% of area median income. HHF Kentucky is not alone. HHF Arizona will provide TARP assistance to homebuyers with incomes of up to one and a half times the state’s median income. The other xxii Eligible first-time homeowners must purchase their home using a 30-year fixed rate first mortgage loan that meets applicable FHA, VA, USDA-Rural Development, and Fannie Mae/Freddie Mac requirements. 123 124 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM state HFAs will provide TARP assistance available to homebuyers with up to 140% of area median income.xxiii HHF HOMEBUYER ASSISTANCE PROGRAM Homebuyer Income Limit (% of Area Median) Homebuyer Debt-to-Income Limit Florida 140% 45% Illinois 140% 45% North Carolina 140% 45% Kentucky 175% 45% Rhode Island 140% 43–45% Arizona 150% 43–45% State HFA Sources: Each state HFA’s Commitment to Purchase Financial Instrument and HFA Participation Agreement and subsequent amendments, various dates, accessed 4/18/2016. TARP Homebuyer Assistance is Not Limited to Purchases of Low- or Mid-Priced Houses, or of Existing Houses Homebuyers may also qualify for Homebuyer Assistance when purchasing houses that cost more than triple the median home price in participating states. For example, HHF Kentucky makes Homebuyer Assistance available for purchases of homes up to $294,000, compared to a median house price of $86,700 in that state.157 Similarly, HHF Rhode Island’s guidelines allow a purchase price of $407,195 (median house price: $133,000), and HHF Arizona allows Homebuyer Assistance for purchases of homes costing up to $356,352—three times that state’s median house price of $121,300.158 It is difficult to evaluate the purchase price limits that apply to homebuyers in other HHF states, as those limits are set by reference to the states’ non-HHF homebuyer program criteria, and are not transparent and included in the state HFAs’ agreements with Treasury. Two state HFAs’ agreements with Treasury do not prohibit and thus potentially make this TARP assistance available for properties that are newly constructed (HHF Kentucky and HHF Rhode Island).159,xxiv Of the six state HFAs approved by Treasury to offer Homebuyer Assistance under HHF, HHF Rhode Island is the only one to require that Homebuyer Assistance be used to help first-time buyers of properties that had previously suffered foreclosures, short sales, or receiverships via state or municipal property disposition programs. TARP Homebuyer Assistance Could Go to Real Estate Investors to Buy Multifamily Properties Treasury allows these TARP funds to be used to support real estate investment in multifamily properties as long as the buyer occupies one unit as a primary residence. HHF Illinois will provide TARP assistance for the purchase of properties xxiii Homebuyers must also be “creditworthy,” with FICO scores exceeding specified minimums. xxiv According to Treasury, Homebuyer Assistance will not be available in Florida to purchase newly constructed properties even though Florida HFA’s Participation Agreement does not explicitly prohibit it from doing so. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 with up to 2 units, while HHF in Florida, North Carolina, Rhode Island and Arizona will provide TARP assistance for the purchase of even larger, 2-4 unit structures. HHF Kentucky explicitly limits TARP assistance to purchases of a single-family unit. HHF DOWN PAYMENT ASSISTANCE PROGRAM State HFA Multifamily Allowed New Construction Allowed* Florida ✓ (2-4 Units) X Illinois ✓ (1-2 Units) X North Carolina ✓ (2-4 Units) X X ✓ Rhode Island ✓ (2-4 Units) ✓ Arizona ✓ (2-4 Units) X Kentucky * rovision of TARP assistance to purchase newly constructed properties is not explicitly excluded by the terms the respective HFA P Participation Agreement. According to Treasury officials, HHF Florida will not provide Homebuyer Assistance to purchase newly constructed properties, even though its HFA Participation Agreement does not explicitly prohibit it from doing so. Sources: Each state HFA’s Commitment to Purchase Financial Instrument and HFA Participation Agreement and subsequent amendments, various dates, accessed 4/18/2016. Oversight and Preventing Fraud, Waste, and Abuse Although piggy-backing on states’ existing non-HHF programs may provide Treasury comfort that a particular state HFA has a program infrastructure in place, existing state programs may not effectively protect against fraud, waste, and abuse for a federal program. For effective TARP oversight, Treasury must protect TARP programs. On May 19, 2015, SIGTARP sent a letter to Treasury outlining potential vulnerabilities in this new type of HHF assistance and made recommendations designed to help Treasury prevent fraud, waste, and abuse and protect the program as strongly as possible. Strong protection starts with Treasury monitoring down payment assistance activities, including requiring detailed reporting and an up-to-date list of homebuyers receiving TARP funds and their addresses. However, Treasury does not require this, and only requires limited reporting on the assistance provided. Requiring detailed reporting helps Treasury uncover risks associated with improper TARP payments, commingling of funds and reporting (state and federal), and fraud, waste, and abuse. For example, the program may be at risk if the sale of a home is not at arm’s-length, such as if the buyer is related or affiliated to the prior owner. Also, because the program provides for assistance to buy multifamily homes up to four units (as long as one is a primary residence), this is essentially providing TARP assistance to real estate investors, which raises other risks to the program. There is also the risk that the homebuyer-landlord buys the multi-unit property and evicts existing tenants living in the other units. As a result, there is a risk that a program designed to keep people in their homes could be used to force families out of their homes. Having the property addresses would give Treasury the strongest independent oversight check to ensure the program is protected. 125 126 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Where TARP assistance targets certain homebuyers, requiring a homebuyer to certify to requirements such as limited income, first-time buyer status, and primary residence, under penalty of law using one consistent federal certification could deter a homebuyer from falsifying documents, and provide a strong remedy for enforcement. SIGTARP proposed language for this certification. Controls are also needed to ensure applicants are first-time buyers. Treasury should also protect its own right to the return of TARP funds if the homebuyer sells the home while HHF has a lien (for 5 years in Florida) by requiring information on which homebuyers and homes are involved. By sponsoring in-person events, Treasury protects against internet scams SIGTARP has investigated in HAMP, while arming homebuyers with accurate and complete information from a trusted source. SIGTARP also recommended that Treasury conduct comprehensive planning to facilitate effective oversight. Risks exist if Treasury defers to a state agency with an existing non-HHF program and assumes that, beyond federal dollars and followup compliance spot-testing, Treasury’s work or help is not needed or required. Treasury should ensure that state HFAs are ready for and can effectively handle what is required in a TARP program, which it cannot do with limited monitoring. Also, Treasury allowed this use of TARP after researching a TARP required nexus—specific decreases in foreclosure rates resulting from higher home prices. Treasury should hold itself and state HFAs accountable to meeting these targets (or other targets it creates), and reporting on whether the program is on track in each state to meet this nexus. Otherwise, how will Treasury or the taxpayers who fund TARP know if these specific dollars actually result in decreased foreclosures? These TARP dollars were taken from programs that helped homeowners at risk of foreclosure. Treasury should report on program performance by showing tangible results that taking these specific TARP dollars away from homeowners and giving them instead to homebuyers was worth it because it saved at-risk neighbors from foreclosure. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 THE HARDEST HIT FUND’S BLIGHT ELIMINATION PROGRAM TO DEMOLISH VACANT AND ABANDONED HOMES TARP’s Hardest Hit Fund (“HHF”) Blight Elimination Program, launched in mid2013,xxv represents a significant shift in Treasury’s approach to the use of HHF that now allows for substantial payments of TARP funds to cities, counties, land banks, non-profit and for-profit partners, and other parties, including demolition contractors, rather than to homeowners or to mortgage servicers to help keep homeowners in their homes. As of April 1, 2016, Treasury had approved the allocation of a total of over $489 million in TARP funds to this HHF program to demolish and “green” vacant and abandoned single and multifamily residential structures, which includes a new allocation for Michigan’s program.xxvi Treasury has approved seven state housing finance agencies (“HFAs”) to participate in the Blight Elimination Program: Michigan, Ohio, Indiana, Illinois, South Carolina, Alabama and, most recently, Tennessee,xxvii by shifting TARP funds from HHF homeowner assistance programs. As of April 1, 2016, the HHF Blight Elimination Program already represented approximately 46% of the total HHF allocation in Michigan, 30% in Indiana, 15% in Alabama, 12% in Ohio, 11% in South Carolina, 2% in Tennessee and 1% in Illinois.xxviii BLIGHT ELIMINATION PROGRAM ALLOCATIONS, AS OF 4/1/2016 Allocation State HFA Blight (Millions) % of HFA’s Total HHF $ 263.6 46% Ohio 79.5 12% Indiana 75.0 30% Illinois 5.4* 1% Alabama 25.0 15% South Carolina 35.0 11% 5.5 2% Michigan Tennessee Total $ 489.0 *Includes $3.5 million that, according to Treasury, HHF Illinois recovered from other HHF programs and committed to blight elimination. Sources: Each state HFA’s Commitment to Purchase Financial Instrument and HFA Participation Agreement and subsequent amendments, various dates, accessed 4/7/2016; Treasury response to SIGTARP, 12/7/2015; Treasury response to SIGTARP data call, 4/4/2016. xxv Treasury, Action Memorandum for Assistant Secretary Massad, Approval for HFA Hardest-Hit Fund Program Change Requests, 6/5/2013. xxvi ichigan, Twelfth amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement, 4/1/2016, M www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/Documents/Redacted%2012th%20Amendment%20to%20 HPA%20-%20Michigan.pdf, accessed 4/14/2016. xxvii ennessee Ninth Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/29/2015, T www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/Documents/Redacted%209th%20Amendment%20to%20 HPA-%20Tennessee.pdf, accessed 4/1/2016. xxviii n April 1, 2016, Treasury approved an increase in Michigan’s Blight program from $207.7 million to $263.6 million, bringing the O Blight Program total for all states to $489 million. For more information on the Hardest Hit Fund’s Blight Elimination Program, see SIGTARP’s April 21, 2015, Audit, “Treasury Should Do More to Increase the Effectiveness of the TARP Hardest Hit Fund Blight Elimination Program.” 127 128 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM This TARP program has great potential to help heal the ills of vacant and abandoned properties in hard-hit communities, but only if it is not diverted from its intended purpose, and is protected from fraud, waste, and abuse. Effective oversight by Treasury is critical to protecting taxpayers, while allowing state HFAs flexibility to tailor their HHF programs to suit local needs. SIGTARP recommended that Treasury increase transparency, including publicizing blight elimination activity on its website and requiring detailed quarterly accounting by state HFAs on how TARP funds are spent reimbursing local partners for blightrelated activities. Tracking the program on a periodic basis, according to the audit report, would allow Treasury and the HFAs to give guidance to the city, county, and other partners that could allow for a greater impact for homeowners. State HFAs’ Reported Blight Elimination Program Activity Treasury requires state HFAs to report limited information on demolitions under the HHF Blight Elimination Program on a quarterly basis. These reports, which are one quarter behind, do not appear on Treasury’s website, but are instead hyperlinked to the state HFA websites. The following pages report on HHF Blight Elimination Program activities (including demolitions) reported by individual state HFAs, which in some cases continue to show zero or limited activity. As of December 31, 2015, the latest available, three state HFAs—those in Michigan, Ohio and Indiana—are the only ones to report funded demolitions to Treasury. As of that date, those participating state HFAs reported that HHF blight elimination had funded the demolition and greening of a total of 9,293 properties (up 30% from the 7,162 reported as of the prior quarter), with one state HFA, HHF Michigan, accounting for almost 80% of the total (7,435 properties). As of December 31, 2015, both HHF Illinois and HHF South Carolina reported zero demolitions, but did report that 154 structures and 425 structures, respectively, were being reviewed for demolition eligibility. As of December 31, 2015, HHF Alabama, in its first Blight Elimination Program report, reported zero demolitions, but 12 structures were being reviewed for demolition eligibility. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 BLIGHT ELIMINATION PROGRAM ACTIVITY, AS OF 12/31/2015 TARP Expenditures Cumulative (Millions) Properties Removed Cumulative Michigan $111.2 7,435 Ohio $19.0 1,588 Indiana $4.9 270 Illinois $— 0 Alabama $— 0 South Carolina $— 0 Tennessee $— 0 $135.1 9,293 State HFA Total Sources: Each state HFA’s Quarterly Performance Report as of 12/31/2015. Taxpayers are entitled to transparency regarding how states are using these TARP funds. The information currently available to the public through Treasury on the use of these funds is scarce. SIGTARP is publishing on the following pages the limited, basic information made available on HHF state websites that the state HFAs reported to Treasury. Because these reports are one quarter behind (as of December 31, 2015), and given how quickly the state HFAs are spending HHF Blight Elimination Program funds, the reported information is supplemented with more recent data and reports gleaned from other public sources. SIGTARP reported in April 2015 that much of the decision-making and actual blight elimination activities are in the hands of city or county land banks, nonprofits or for-profit partners, whose identities are unknown to Treasury. SIGTARP recommended, among other things, that Treasury keep itself informed of the critical activities taking place in this new program (including knowing the identities of the program partners), and develop and implement appropriate oversight tools as well as target outcomes for the program. HHF BLIGHT ELIMINATION PROGRAM PARTNERS WHO RECEIVE TARP FUNDS 12% 11% 1% 39% 34% 3% Non Profit Entities (109) For Profit Entities (8) Individuals (94) Cities/Counties (4) Other Public Agencies (31) Land Banks (34) Source: State HFA responses to SIGTARP request. TARP Recipients SIGTARP is also publishing a list for each HHF state of HHF Blight Elimination Program partners who receive TARP funds and contract for the work to be done. Partner information is based on information from state HFAs. 129 130 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM MICHIGAN Approved by Treasury: Q2 2013 Program Description:* “decreasing foreclosures and stabilizing neighborhoods through the demolition and greening of vacant and abandoned single-family and multi-family structures in designated areas across Michigan.” Current Allocation: $263.6xxix Million (46% of total HHF Michigan allocation) Eligibility: Single-family (1-4 units) and multi-family (4+ units) residential Structure of Assistance: 0% 5-year loan secured by a lien on the property, forgiven at 20% per year. If sold before that date, the balance is due to HHF. Per Property Cap: $25,000; includes payoff of existing lien (if applicable), demolition costs, a $500 one-time project management fee, and a $750 maintenance fee Current HHF Estimate: 10,542 properties (based on HHF Michigan’s $263.6 Million allocation, at the full cap of $25,000 per property) Cumulative Program Activity Reported by HHF Michigan (as of 12/31/2015):** Applications Received: 10,995 Denied: 0 (0%); Approved: 7,435 (67.6%); In Process: 2,804 (25.5%); Withdrawn: 756 (6.9%) Total Assistance Provided: $111,173,791 Median Assistance Spent on Acquisition: $0xxx Median Assistance Spent on Demolition: $10,548 Median Assistance Spent on Greening:xxxi $2,700 As of December 31, 2015, HHF Michigan reported to Treasury that it had spent $111.2 million (42% of the $263.6 million allocated to HHF Michigan for blight elimination) to remove and green 7,435 properties. This is a 27% increase over the 5,850 reported removed as of the third quarter of 2015. The average cost was $14,953 per property (the average cost has increased $620 from the $14,333 average cost through September 30, 2015). For the fourth consecutive quarter, HHF Michigan reported that it demolished more properties (1,585) under the Blight Elimination Program than the homeowners it assisted under all its other HHF programs combined (1,263). xxix On April 1, 2016, Treasury approved an increase in Michigan’s Blight program from $207.7 million to $263.6 million. xxx hile the median Assistance spent on Acquisition may be $0, there still may be actual acquisition expenses. W xxxi rior to March 31, 2015, Michigan reported “site restoration expenses” as part of demolition costs, and reported “Median P Assistance Spent on Greening” as $0. Beginning with the second quarter of 2015, Michigan began reporting the “Greening expense” separately. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 MICHIGAN HHF BLIGHT ELIMINATION PROGRAM PARTNERS AND DEMOLITION ACTIVITY AS OF 12/31/2015** Most Recent Quarter Cumulative Applications Submitted 4,436 10,995 Properties Demolished/Removed 1,585 7,435 Demolished in Most Recent Quarter Demolished, Cumulative City/County Partnera Adrian Lenawee County Land Bank Detroit Detroit Land Bank Ecorse Wayne Metro Community Action Agency 0 0 Flint Genesee County Land Bank Authority 36 1,776 Ironwood Gogebic County Land Bank 16 16 Grand Rapids Kent County Land Bank Habitat for Humanity of Kent County 0 93 Hamtramck Michigan Land Bank Fast Track Authority 0 0 Highland Park Michigan Land Bank Fast Track Authority 0 0 Inkster Michigan Land Bank Fast Track Authority 0 0 Jackson John George Home, Inc. 4 4 Lansing Ingham County Land Bank Fast Track Authority 65 65 Muskegon City of Muskegon Heights 24 24 Pontiac Michigan Land Bank 56 126 Port Huron Port Huron Neighborhood Housing Corporation 10 13 River Rouge Wayne Metro Community Action Agency 0 0 Saginaw Bridgeport Charter Township City of Saginaw 108 780 a 0 0 1,266 4,538 Michigan Homeowner Assistance Nonprofit Housing Corporation (MHA). *Michigan Homeowner Assistance Nonprofit Housing Corporation, Seventh, Tenth, Eleventh and Twelfth Amendments to Agreements, 6/6/2013, 3/6/2015, 10/28/2015 and 4/1/2016. ** Michigan Homeowner Assistance Nonprofit Housing Corporation, Hardest Hit U.S. Treasury Reports, Quarterly Performance Report Q4 2015, no date. 131 132 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM MICHIGAN HARDEST HIT FUND: HOMEOWNERS HELPED AND BLIGHTED PROPERTIES REMOVED AS REPORTED BY QUARTER 12,000 10,000 8,000 6,000 4,000 2,000 2,154 1,879 1,655 1,721 1,333 1,019 0 124 Q1'14 190 Q2'14 1,006 1,292 1,457 1,585 1,151 1,173 1,263 501 Q3'14 Blight Elimination Program, Properties Removed Other HHF Programs, Unique Homeowners Assisted Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 State Estimated Homeowner Program Participation Note: Estimated program participation shows the estimated number of program participants over the life of the program. However, unique homeowners assisted are displayed on a quarter to date basis. States report estimated participation individually for each HHF program they operate. Estimated program participation shows the aggregate estimate for each state. Therefore, these totals do not necessarily translate into the number of unique households that the states expect to assist because some households may participate in more than one HHF program. Sources: Michigan Homeowner Assistance Nonprofit Housing Corporation, Hardest Hit U.S. Treasury Reports, Quarterly Performance Reports, Q1 2014 through Q4 2015, no date; Michigan Homeowner Assistance Nonprofit Housing Corporation, Eighth through Eleventh Amendments to Agreements, 12/12/2013, 10/10/2014, 3/6/2015, and 10/28/2015. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 OHIO Approved by Treasury: Q3 2013 Program Description:* “stabilize property values by removing and greening vacant and abandoned properties in targeted areas to prevent future foreclosures for existing homeowners.” Current Allocation: $79.5 Million (12% of total HHF Ohio allocation)xxxii Eligibility: 1-4 unit residential properties, as well as “mixed use” propertiesxxxiii Structure of Assistance: 0% 3-year loan secured by a lien on the property, forgiven at end of term. If sold before that date, the balance is due to HHF. Per Property Cap: $25,000; includes acquisition (if applicable), payoff of existing loan, approved demolition, remediation and greening of the site, maintenance and administration for up to 3 years. OH Estimate: 5,000 properties (based on HHF Ohio’s initial $60 Million allocation, at the full cap of $25,000 per property) Cumulative Program Activity Reported by HHF Ohio (as of 12/31/2015):** Applications Received: 1,746 Denied: 1 (0.1%); Approved: 1,588 (90.9%); In Process: 139 (8%); Withdrawn: 18 (1%) Total Assistance Provided: $19,033,387 Median Assistance Spent on Acquisition: $108 Median Assistance Spent on Demolition: $8,100 Median Assistance Spent on Greening: $500xxxiv As of December 31, 2015, HHF Ohio reported that it had spent $19 million (24% of the $79.5 million allocated to HHF Ohio for blight elimination as of March 31, 2016) to remove and green 1,588 properties. This is a 35% increase over the 1,177 properties reported as of the third quarter of 2015. The average cost was $11,986 per property (up from the $11,807 average cost through September 30, 2015). For the third consecutive quarter, HHF Ohio reported that it demolished more properties (411) under the Blight Elimination Program than the homeowners it assisted under all its other HHF programs combined (1). Obtaining more current data is difficult because there is no source of comprehensive data on properties removed, and participating cities and counties do not publish separate data. HHF Ohio is one of two state HFAs that allows “mixed use” properties to be demolished in their program, in addition to 1-4 unit residential properties. xxxii Treasury, response to SIGTARP data call, 4/4/2016. xxxiii eighborhood Initiative Guidelines, 2/6/2015, ohiohome.org/savethedream/NeighborhoodInitiative-Guidelines.pdf, accessed N 4/1/2016. xxxiv ccording to Ohio, prior to 12/1/2014, “site restoration expenses” were reported as demolition costs, but were reclassified as A “Greening” effective as of that date. 133 134 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM OHIO HHF BLIGHT ELIMINATION PROGRAM PARTNERS AND DEMOLITION ACTIVITY AS OF 12/31/2015** Most Recent Quarter Cumulative Applications Submitted 556 1,746 Properties Demolished/Removed 411 1,588 Demolished in Most Recent Quarter Demolished, Cumulative City/County Partnera Ashtabula Ashtabula County Land Reutilization Corporation 12 12 Belmont Belmont County Land Reutilization Corporation 0 0 Butler Butler County Land Reutilization Corporation 0 0 Clark Clark County Land Reutilization Corporation 5 5 Columbiana Columbiana County Land Reutilization Corporation 0 7 Cuyahoga Cuyahoga County Land Reutilization Corp. 126 1,007 Erie Erie County Land Reutilization Corporation 0 0 Fairfield Fairfield County Land Reutilization Corporation Franklin Central Ohio Community Improvement Corp. Hamilton Jefferson 0 0 61 66 Hamilton County Land Reutilization Corporation 1 1 Jefferson County Regional Planning Commission 2 2 Lake Lake County Land Reutilization Corp. 0 0 Lorain Lorain County Land Reutilization Corp. 0 0 Lucas Lucas County Land Reutilization Corp. 135 337 Mahoning Mahoning County Land Reutilization Corp. 29 49 Montgomery Montgomery County Land Reutilization Corp. 2 2 Portage Portage County Land Reutilization Corporation 2 2 Richland Richland County Land Reutilization Corp. 4 8 Stark Stark County Land Reutilization Corporation 4 13 Summit Summit County Land Reutilization Corp. 0 0 Trumbull Trumbull County Land Reutilization Corp. 28 77 a Ohio Homeowner Assistance LLC. * Ohio Homeowner Assistance LLC, Eleventh Amendment to Agreement, 12/18/2014. ** Ohio Homeowner Assistance LLC, Save the Dream Ohio: Quarterly Reports, Quarterly Performance Report, Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 OHIO HARDEST HIT FUND: HOMEOWNERS HELPED AND BLIGHTED PROPERTIES REMOVED AS REPORTED BY QUARTER 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 2,315 Q1'14 2,604 2,354 0 0 14 Q2'14 130 Q3'14 Blight Elimination Program, Properties Removed Other HHF Programs, Unique Homeowners Assisted 1,294 284 Q4'14 271 237 Q1'15 36 259 Q2'15 11 253 Q3'15 1 411 Q4'15 State Estimated Homeowner Program Participation Note: Estimated program participation shows the estimated number of program participants over the life of the program. However, unique homeowners assisted are displayed on a quarter to date basis. States report estimated participation individually for each HHF program they operate. Estimated program participation shows the aggregate estimate for each state. Therefore, these totals do not necessarily translate into the number of unique households that the states expect to assist because some households may participate in more than one HHF program. Sources: Ohio Homeowner Assistance LLC, Save the Dream Ohio: Quarterly Reports, Quarterly Performance Reports, Q1 2014 through Q4 2015, no date; Ohio Homeowner Assistance LLC, ninth through eleventh Amendment to Agreement, 12/12/2013, 2/27/2014, and 12/18/2014. 135 136 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM INDIANA Approved by Treasury: Q4 2013 Program Description:* “decrease foreclosures, stabilize homeowner property values and increase neighborhood safety in communities across the state of Indiana through the demolition and greening of vacant, abandoned and blighted residential properties.” Allocation: $75 Million (30% of total HHF Indiana allocation) Eligibility: Residential (non-commercial)xxxv Structure of Assistance: 0% 3-year loan secured by a lien on the property, forgiven 33.3% per year. If sold before that date, the balance is due to HHF. Per Property Cap: $25,000; includes the costs of acquisition (if necessary), demolition and up to $1,000/year for property stabilization for a period of 3 years. IN Estimate: 3,000-5,000 properties (3,000 at the full cap of $25,000 per property) Cumulative Program Activity Reported by HHF Indiana (as of 12/31/2015):** Applications Received: 3,078 Denied: 0 (0%); Approved: 270 (9%); In Process:xxxvi 2,808 (91%); Withdrawn: 0 (0%) Total Assistance Provided: $4,915,260 Median Assistance Spent on Acquisition: $5,021 Median Assistance Spent on Demolition: $14,918 Median Assistance Spent on Greening: $4,441 As of December 31, 2015, HHF Indiana reported spending $4.9 of its $75 million blight elimination allocation to remove 270 properties. Obtaining more current data is difficult because there is no source of comprehensive data on properties removed, and participating cities and counties do not publish separate data. xxxv HF Indiana’s program guidelines limit eligible properties to 1-4 units. Indiana Housing and Community Development Authority Blight H Elimination Program, 1/2014. xxxvi he cumulative number of applications still in process as of the reporting date is the cumulative “Total Number of Structures T Submitted for Eligibility Review” less the sum of the cumulative number approved, denied and withdrawn. 137 QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 INDIANA HHF BLIGHT ELIMINATION PROGRAM PARTNERS AND DEMOLITION ACTIVITY AS OF 12/31/2015** Most Recent Quarter Applications Submitted 0 Properties Demolished/Removed City/County City of Alexandria City of Anderson City of Arcadia City of Auburn City of Austin Cumulative Partnera Alexandria Redevelopment Commission Madison County Council of Governments Anderson Redevelopment Commission South Meridian Church of God Bethesda Missionary Baptist Church Habitat for Humanity of Madison County Operation MOVE-In, LLC Curtis and Mary Parr Habitat for Humanity of Northeast Indiana City of Auburn Redevelopment Commission Austin Redevelopment Commission (ARC) Southern Indiana Housing & Community Development Corp. 3,078 139 270 Demolished in Most Recent Quarter Demolished, Cumulative 2 2 3 3 0 0 0 0 0 0 City of Bicknell Bicknell Bulldog Development Corp. 0 0 City of Brazil Clay County Economic Redevelopment Commission 0 0 City of Coatesville South Meridian Church of God National Road Heritage Trail 0 0 City of Columbus ARA (Administrative Resources Association) 0 0 City of Connersville House of Ruth Connersville Urban Enterprise Association U.E.A. Whole Family Community Initiative, Inc 1 1 City of Delphi Habitat for Humanity of Lafayette, Inc. 0 0 City of Dunkirk Dunkirk Industrial Development Corp. 9 9 City of East Chicago East Chicago Department of Redevelopment 10 10 City of Elwood Elwood Redevelopment Commission 4 4 City of Evansville Rose Products, LLC dba as Comfort Homes Community One, Inc. Evansville Brownfields Corp. Evansville Housing Authority ECHO Housing Corporation Full Gospel Mission Gethsemane Church Habitat for Humanity of Evansville, Inc. HOPE of Evansville JBELL Properties, LLC Memorial Community Development Corporation New Odyssey Investments, LLC Ozanam Family Shelter Corp. 11 45 City of Fort Wayne Housing and Neighborhood Devt. Svcs, Inc. 8 38 City of Garrett Garrett State Bank 0 0 City of Gary Broadway Area Community Development Corp. Fuller Center for Housing of Gary The Gary Redevelopment Commission The Sojourner Truth House 40 94 City of Hammond United Neighborhoods, Inc. 2 2 Continued on next page 138 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM INDIANA HHF BLIGHT ELIMINATION PROGRAM PARTNERS AND DEMOLITION ACTIVITY AS OF 12/31/2015** City/County City of Hartford City of Indianapolis Partnera Rosalie Adkins Jay Dawson Blackford Development Corp. Community & Family Services CAFE Near East Area Renewal Near North Development Corporation Riley Area Development Corporation Renew Indianapolis (CONTINUED) Demolished in Most Recent Quarter Demolished, Cumulative 0 0 0 6 City of Knox Starke County Economic Devt. Foundation, Inc. 0 0 City of Kokomo Kokomo Community Development Corp. 0 0 City of Lawrence Lawrence/Fort Harrison Development Corporation dba Lawrence Community Development Corporation 0 0 City of Lebanon Lebanon Community Development Corporation 0 0 City of Logansport Logansport Municipal Building Corporation City of Marion Marion Redevelopment Commission City of Montpelier 3 3 40 40 Blackford Development Corp Community & Family Services 0 0 City of Muncie Muncie Redevelopment Commission 0 0 City of New Castle Healthy Communities of Henry County Interlocal Community Action Program, Inc. New Castle Housing Authority Westminster Community Center 6 6 City of Peru Miami County Master Gardener Association 0 0 City of Portland Community & Family Services 0 0 0 0 0 0 City of Richmond City of Rising Sun Habitat for Humanity of Greater Richmond, Indiana Neighborhood Services Clearinghouse Redevelopment Commission of City of Rising Sun RSOC Senior Citizen Housing Inc. City of Rushville Southern Indiana Housing & Community Development Corp 0 0 City of Seymour Southern Indiana Housing & Community Development Corp 0 0 0 0 0 7 0 0 City of South Bend City of Terre Haute City of Vincennes Near Northwest Neighborhood Inc. South Bend Heritage Foundation, Inc. Urban Enterprise Assoc. of South Bend, Inc. Terre Haute Department of Redevelopment West Terre Haute Redevelopment Commission Dan Vories Jack Stilwell Leonard Stevenson Larry Stuckman Priscilla Wissell Rick Szudy Thursday Church William Ridge Marc Loveman Carol Anderson Chris Case Karen Evans Randall E. Madison Matt McCoy Continued on next page 139 QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 INDIANA HHF BLIGHT ELIMINATION PROGRAM PARTNERS AND DEMOLITION ACTIVITY AS OF 12/31/2015** City/County City of Washington County of Dearborn Partnera Davies County Economic Development Foundation, Inc. Habitat for Humanity of Daviess County, Inc. Washington Housing Authority City of Aurora Redevelopment Commission Casey Kaiser John & Darlene Albright Laura Williams Town of Moores Hill Redevelopment Commission Robert & Janice Fehrman Revocable Trust (CONTINUED) Demolished in Most Recent Quarter Demolished, Cumulative 0 0 0 0 County of Elkhart LaCasa Inc. 0 0 County of Gibson Princeton Redevelopment Commission Kenneth L. Wolf Leslie T. Marshall Mark A. Tooley Nicholas Burns Ralph B DeBord Richard Ellis Sheryl Walker-Isakson/Allen Isakson Steve & Brian Dyson Sheiln J. Besing Timothy A. Beadles Thomas R. Johnstone, Sr. Tim Thompson Anna Marie Kiel Brenda Boyer Billy Ray Walden Brandon Taylor Brandon Taylor and Jane E. Taylor David O. Hill Daniel R. Engler Daniel R. Engler and Sherry L. Engler John D. Young Joseph H. Gardner Lillie E. Gardner Wheelhouse, Joseph H. Gardner, and Judith L. Gardner Jason Spindler Brian Dawson 0 0 County of Greene Greene Redevelopment Commission 0 0 County of Howard Howard County Redevelopment Commission 0 0 County of Posey Mt. Vernon Redevelopment Dale Reuter Beverly Stone/Katrina Wagner James C. Welch, Jr 0 0 County of Pulaski White’s General Contracting 0 0 County of Sullivan Sullivan City Redevelopment Commission Sullivan County Redevelopment Commission 0 0 County of Vigo West Terre Haute Redevelopment Commission 0 0 Continued on next page 140 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM INDIANA HHF BLIGHT ELIMINATION PROGRAM PARTNERS AND DEMOLITION ACTIVITY AS OF 12/31/2015** City/County County of Warrick Partnera Habitat for Humanity of Warrick County Charles L. Allen Larry & Karen Willis Andy R & Donna VanWinkle Brian Hendrickson Boonville Now, Inc. Christopher Lunn Josh Barnett James B. Decker, II Lori Lamar Ronald Evans Scott Speicher Tim A. McKinney Zachary Lee Bailey Terry D. Cline and Kathy J. Cline Wesley B. Hack and Maureen L. Hack (CONTINUED) Demolished in Most Recent Quarter Demolished, Cumulative 0 0 Monroe City Knox County Garden Club LLC 0 0 Richland City The Friends of Richland 0 0 Shelby County/City of Shelbyville Habitat for Humanity For Shelby Co. 0 0 Town of Brookville Brookville Redevelopment Commission 0 0 0 0 Town of Cambridge City Carla Boyles Jonathan Winchester Town of Daleville Daleville Parks, Inc. 0 0 Town of Decker Decker Community Center Kathy Griffith David & Bonnie Wehmeirer Delora Koenig Darrell & Robin Lindsay Doug Degor William Beamon 0 0 Town of Edwardsport Keith Martin 0 0 Town of Greens Fork Mendy Rose David Mosier and Dianna Mosier David Mosier and Dianna Mosier and Danielle Virgil Monty York and Mary A. York 0 0 Town of Hagerstown Joe Smith, Jefferson Twp Trustee 0 0 Town of Lagro David Pefley Kevin Campbell 0 0 Town of Oaktown Knox County Housing Authority 0 0 Town of Silver Lake Silver Lake Educational Foundation 0 0 Town of St. Joe Habitat for Humanity of Northeast Indiana Michael Mills 0 0 Town of Sweetser Sweetser Redevelopment Commission 0 0 City of Walton Cass County Redevelopment Commission 0 0 Town of Waterloo Habitat for Humanity of Northeast Indiana RP Wakefield Co. Waterloo Redevelopment Commission 0 0 a Indiana Housing and Community Development Authority. * Indiana Housing and Community Development Authority, Ninth and Tenth Amendment to Agreement, 7/31/2014 and 4/1/2016. **Indiana Housing and Community Development Authority, Indiana’s Hardest Hit Fund, Quarterly Reports to the U.S. Treasury, Quarterly Performance Report, Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 ILLINOIS Approved by Treasury: Q2 2014 Program Description:* “to decrease preventable foreclosures through neighborhood stabilization achieved through the demolition and greening of vacant, abandoned and blighted residential properties throughout Illinois. Such vacant, abandoned and blighted residential properties will be returned to use through a process overseen by approved units of government and their not-for-profit partner(s).” Allocation: $5.4xxxvii Million (1% of total HHF Illinois allocation) Eligibility: 1-4 unit residential structures Structure of Assistance: 0% 3-year loan secured by a lien on the property, forgiven one-third per year. If sold before that date, the balance is due to HHF. Per Property Cap: $35,000, which may include the following on a per unit basis (if applicable): acquisition, closing costs, demolition, lot treatment/greening, $3,000 flat fee for maintenance, and up to $1,750 for administrative expenses. IL Estimate: 50 properties (at the full cap of $35,000 per property) Cumulative Program Activity Reported by HHF Illinois (as of 12/31/2015):** Applications Received: 154 Denied: 0 (0%); Approved: 0 (0%); In Process: 143 (97%); Withdrawn: 11 (3%) Total Assistance Provided: $0 Median Assistance Spent on Acquisition: $0 Median Assistance Spent on Demolition: $0 Median Assistance Spent on Greening: $0 As of December 31, 2015, HHF Illinois reported that, more than one year after it was approved by Treasury, it had still not expended any of the $5.4 million it has committed to the Blight Elimination Program,xxxviii and had not removed any properties as of that date. Obtaining more current data is difficult because there is no source of comprehensive data on properties removed, and participating cities and counties do not publish separate data. xxxvii Treasury, response to SIGTARP, 12/7/2015. xxxviii ncludes $3.5 million that, according to Treasury, HHF Illinois recovered from other HHF programs and committed to blight I elimination. 141 142 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM ILLINOIS HHF BLIGHT ELIMINATION PROGRAM PARTNERS AND DEMOLITION ACTIVITY AS OF 12/31/2015** Most Recent Quarter 154 Applications Submitted Properties Demolished/Removed Cumulative 154 0 0 Demolished in Most Recent Quarter Demolished, Cumulative City/County Partnera Aurora Fox Valley Habitat for Humanity 0 0 Chicago Heights Cook County Land Bank Authority 0 0 Chicago (Cook County Land Bank Authority) Greater Englewood CDC 0 0 Freeport NW Homestart, Inc. 0 0 Joliet South Suburban Land Bank and Devt. Authority 0 0 Moline Moline Community Development Corporation 0 0 Ottawa Starved Rock Homes Development Corp 0 0 Park Forest South Suburban Land Bank and Devt. Authority 0 0 Riverdale Cook County Land Bank Authority 0 0 Rock Island Rock Island Economic Growth Corp. 0 0 0 0 Springfield Sunshine Gospel Ministries The Springfield Project Enos Park Neighborhood Improvement Association Sterling Rock Island Economic Growth Corp. 0 0 Urbana Habitat for Humanity of Champaign County 0 0 Rockford (Winnebago County) Comprehensive Community Solutions, Inc. 0 0 a Illinois Housing Development Authorit. * Treasury, response to SIGTARP data call, 4/4/2016; Illinois Housing Development Authority, Tenth and Eleventh Amendments to Agreement, 4/11/2014, and 7/30/2015. **Illinois Housing Development Authority, Illinois Hardest Hit Program, Reporting, Quarterly Performance Report, Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 SOUTH CAROLINA Approved by Treasury: Q3 2014 Program Description:* “decrease foreclosures and stabilize homeowner property values in communities across South Carolina through the demolition of vacant, abandoned, and blighted residential structures, and subsequent greening/improvement.” Allocation: $35 Million (11% of total HHF South Carolina allocation) Eligibility: Single-family (1-4 units) and multi-family (4+ units) residential Structure of Assistance: 0% 3-year loan secured by a lien on the property, forgiven at one-third per year. If sold before that date, the balance is due to HHF. Per Property Cap: $35,000; includes acquisition costs (if applicable); demolition and greening/ improvement costs; and a $2,000 one-time project management fee to cover management and maintenance expenses for a period of three years. SC Estimate: 1,000-1,300 properties (1,000 at the full cap of $35,000 per property) Cumulative Program Activity Reported by HHF South Carolina (as of 12/31/2015):** Applications Received: 425 Denied: 4 (1%); Approved: 0 (0%); In Process: 391 (92%); Withdrawn: 30 (7%) Total Assistance Provided: $0 Median Assistance Spent on Acquisition: $0 Median Assistance Spent on Demolition: $0 Median Assistance Spent on Greening: $0 As of December 31, 2015, HHF South Carolina reported it had not expended any of the $35 million Blight Elimination Program allocation approved by Treasury, and had not funded the removal of any properties as of that date. Obtaining more current data is difficult because there is no source of comprehensive data on properties removed, and participating cities and counties do not publish separate data. 143 144 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM SOUTH CAROLINA HHF BLIGHT ELIMINATION PROGRAM PARTNERS AND DEMOLITION ACTIVITY AS OF 12/31/2015** Most Recent Quarter 410 Applications Submitted Properties Demolished/Removed Cumulative 425 0 0 Demolished in Most Recent Quarter Demolished, Cumulative City/County Partnera Aiken County Second Baptist CDC Nehemiah Community Revitalization Corp. 0 0 Allendale County Southeastern Housing Foundation Allendale County Alive 0 0 Anderson County Pelzer Heritage Commission Nehemiah Community Revitalization Corp. Anderson Community Development Corp. 0 0 Bamberg County Southeastern Housing Foundation 0 0 Barnwell County Southeastern Housing Foundation Blackville, CDC 0 0 Charleston County Sea Island Habitat for Humanity PASTORS, Inc. 0 0 Chester County Not Available 0 0 Chesterfield County Town of Cheraw Community Development Corp. 0 0 Florence County Downtown Development Corporation 0 0 Greenville County Allen Temple Community Economic Devt. Corp. Habitat for Humanity of Greenville County Homes of Hope, Inc. Nehemiah Community Revitalization Corp. Neighborhood Housing Corp. of Greenville, Inc. United Housing Connections Genesis Homes 0 0 Hampton County Southeastern Housing Foundation 0 0 Horry County Myrtle Beach Community Land Trust 0 0 Kershaw County Santee-Lynches Regional Development Corp. 0 0 Lancaster County Not Available 0 0 Richland County Columbia Housing Development Corporation Eau Claire Development Corporation Columbia Development Corporation 0 0 Spartanburg County Homes of Hope Habitat for Humanity Nehemiah Community Revitalization Corp. Northside Development Group Upstate Housing Partnership 0 0 Sumter County Santee-Lynches Regional Development Corp 0 0 Union County Not Available 0 0 York County Housing Development Corporation of Rock Hill Catawba Regional Development Corp. 0 0 a SC Housing Corp. *SC Housing Corp., Seventh, Eight, and Ninth Amendments to Agreement, 7/31/2014, 9/29/2015, and 11/24/2015. **SC Housing Corp., SC HELP, Reports, Quarterly Performance Reports, Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 ALABAMA Approved by Treasury: Q3 2014 Program Description:* “reduce foreclosures, promote neighborhood stabilization and maintain property values through the removal of unsafe condemned single family structures and subsequent greening in areas across the State of Alabama.” Allocation: $25 Million (15% of total HHF Alabama allocation) Eligibility: Residential properties (excluding multifamily) as well as “mixed use” properties,xxxix owned by an Affiliate of Alabama Assoc. of Habitat for Humanity Affiliates. Structure of Assistance: 0% loan secured by a lien on the property, forgiven at 33.3% per year. If sold before that date, the balance is due to HHF. Per Property Cap: $25,000; including demolition, greening and maintenance (not to exceed $3,000) for 3-years. AL Estimate: 1,000 properties (at the full cap of $25,000 per property) Cumulative Program Activity Reported by HHF Alabama (as of 12/31/2015):** Applications Received: 12 Denied: 9 (75%); Approved: 0 (0%); In Process: 3 (25%); Withdrawn: 0 (0%) Total Assistance Provided: $0 Median Assistance Spent on Acquisition: $0 Median Assistance Spent on Demolition: $0 Median Assistance Spent on Greening: $0 HHF Alabama has filed its first Blight Elimination Program activity report with Treasury. Twelve structures have been submitted for eligibility review. ALABAMA HHF BLIGHT ELIMINATION PROGRAM PARTNERS AND DEMOLITION ACTIVITY AS OF 12/31/2015** Most Recent Quarter 12 Applications Submitted Properties Demolished/Removed Cumulative 12 0 0 Demolished in Most Recent Quarter Demolished, Cumulative City/County Partnera TBD Greater Birmingham Habitat for Humanity 0 0 TBD Alabama Association of Habitat for Humanity 0 0 TBD Habitat for Humanity of Hale Co. 0 0 a Alabama Housing Finance Authority. * Alabama Housing Finance Authority, Ninth and Tenth Amendments to Agreements, 1/31/2015 and 10/28/2015. ** Alabama Housing Finance Authority, Treasury Reports, Quarterly Performance Report, Q4 2015, no date. xxxix Alabama Housing Finance Authority Blight Elimination Program manual, 11/3/2014. 145 146 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TENNESSEE Approved by Treasury: Q3 2015 Program Description:* “reduce foreclosures, promote neighborhood stabilization, and maintain or improve property values through the demolition of vacant, abandoned, blighted residential structures, and subsequent greening/improvement of the remaining parcels.” Allocation: $5.5 Million (2% of total HHF Tennessee allocation) Eligibility: Single- family (1-4 unit) residential properties located in targeted area Structure of Assistance: 0% loan secured by a lien on the property, forgivable over 3 years. If sold before that date, the balance is due to HHF. Per Property Cap: $25,000 TN Estimate: 220 properties (at the full cap of $25,000 per property) Cumulative Program Activity Reported by HHF Tennessee (as of 12/31/2015):** HHF Tennessee has filed a Blight Elimination Program activity report with Treasury, but reports no activity as of December 31, 2015. * Tennessee Housing Development Agency, Ninth and Tenth Amendment to Agreement, 9/29/2015 and 4/1/2016. ** Tennessee Housing Development Agency, Treasury Reports, Quarterly Performance Report, Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 Alabama’s HHF Programs FIGURE 4.12 Treasury obligated $162,521,345 in HHF funds to Alabama.160 Alabama was the only HHF state of 19 states not to receive any additional HHF funds from the $2 billion allocated from HAMP as announced by Treasury on February 19, 2016.xl At the end of 2010, HHF Alabama estimated that it would help as many as 13,500 homeowners with HHF but had reduced that by 47%, to 7,100 homeowners, as of December 31, 2015. As of that date, HHF Alabama had helped 4,377 individual homeowners with its HHF programs, the majority of them with the Unemployed Homeowners Program.161 HHF Alabama’s Short Sale program, launched in March 2013, had not helped a single homeowner during its two-year history, and its Loan Modification Program, launched in the same quarter, had helped just 44 homeowners. In addition to decreasing the number of homeowners it estimated helping, HHF Alabama has shifted $25 million of its HHF funds (15%) away from existing HHF programs to blight elimination. This represents a shift from making payments directly to homeowners or their mortgage servicers to help keep homeowners in their homes. Treasury’s Blight Elimination Program allows for substantial payment of TARP funds to land banks, non-profits and other parties, including demolition contractors, in cash and mortgages that can be forgiven over time. For more information see the blight program update on page 145 of this Quarterly Report. As of December 31, 2015, HHF Alabama had only spent 22% of its HHF funds to help homeowners, the lowest amount of any state in the HHF program.162 The state’s HFA had drawn down $47 million (29%) of its HHF funds as of December 31, 2015, the most recent data available, and spent $35.6 million (22% of its obligated funds) to help homeowners.163 The remaining $9.1 million (6%) was spent on administrative expenses, and $3.0 million (2%) was held as cash-onhand.164 No HHF funds have yet been spent on the Blight Elimination Program. Figures 4.13 and 4.14 show, in the aggregate and by program, respectively, the number of homeowners HHF Alabama estimated it would help with its HHF programs, the number of homeowners actually assisted and the homeowner admission rate, as of December 31, 2015. AL HHF EXPENDITURES, BY PROGRAM CATEGORY xl n its press release announcing the allocation of $2 billion to HHF, Treasury stated: “As of February 15, 2016, Alabama has utilized I approximately 29 percent of its existing allocation, and is therefore ineligible for funding in the first phase of Fifth Round Funding.” PROGRAM THROUGH DECEMBER 31, 2015 3% 97% Unemployment ($34,715,005) Transition ($0) Modification ($921,934) Blight ($0) Source: Alabama Housing Finance Authority, Treasury Reports, Quarterly Performance Report Q4 2015, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). 147 148 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.13 HHF ALABAMA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 12/31/2015 20,000 As of 12/31/2015: Estimate: 7,100 (Peak: 13,500) Homeowner Applications: 18,183 Homeowners Assisted: 4,377 Homeowner Admission Rate: 24% 15,000 10,000 5,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 2011 State Estimated Program Participation Q4 Q1 Q2 Q3 Q4 2012 Q1 Q2 Q3 2013 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range, but excludes Alabama’s estimate of the number of blighted properties to be eliminated. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and Alabama Housing Finance Authority, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010, and Amendments to Agreement one through ten, as of 12/31/2015; Alabama Housing Finance Authority, Quarterly Performance Reports Q1 2011–Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012–Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 4.14 HHF ALABAMA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 HARDEST HIT FOR ALABAMA'S UNEMPLOYED HOMEOWNERS (UNEMPLOYMENT)–SEPTEMBER 2010 As of 12/31/2015: Estimate: 5,500 (Peak: 13,500) Homeowner Applications: 15,983 Program Participation: 4,335 Homeowner Admission Rate: 27% 15,000 12,000 9,000 SHORT SALE ASSISTANCE PROGRAM (TRANSITION)– MARCH 2013 1,600 1,200 800 6,000 400 3,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 1,200 2012 2013 2014 2015 Program Participation Homeowner Applications LOAN MODIFICATION ASSISTANCE PROGRAM (MODIFICATION)–MARCH 2013 1,800 2011 State Estimated Program Participation Program Participation Homeowner Applications 2,400 As of 12/31/2015: Estimate: 400 (Peak: 1,500) Homeowner Applications: 110 Program Participation: 0 Homeowner Admission Rate: 0% BLIGHT ELIMINATION PROGRAM (BLIGHT)– SEPTEMBER 2014 1,000 As of 12/31/2015: Estimate: 1,200 (Peak: 1,200) Homeowner Applications: 2,622 Program Participation: 44 Homeowner Admission Rate: 2% 800 As of 12/31/2015: Blighted homes proposed to be demolished: 1,000 Actual blighted homes demolished: 0 600 400 600 200 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation Homeowner Applications 2013 2014 2015 Program Participation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications Notes: Programs may have been started or ended at different times. Estimated includes highest estimate of a range, but excludes Alabama’s estimate of the number of blighted properties to be eliminated. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of reported Homeowner Applications. Sources: Treasury and Alabama Housing Finance Authority, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010, and Amendments to Agreement one through ten, as of 12/31/2015; Alabama Housing Finance Authority, Quarterly Performance Reports Q1 2011–Q4 2015, no date. 149 150 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.15 Arizona’s HHF Programs AZ HHF EXPENDITURES, BY PROGRAM CATEGORY Treasury obligated $267,766,006 in HHF funds to Arizona, however, on February 19, 2016, Treasury increased that amount by $28,282,519.165,xli At the end of 2010, HHF Arizona estimated that it would help as many as 11,959 homeowners with HHF but had reduced that by 48%, to 6,263, as of December 31, 2015. As of that date, HHF Arizona had helped 4,219 individual homeowners with its HHF programs, with the largest numbers in the unemployment/underemployment and the principal reduction assistance programs. Arizona’s down payment assistance program, launched in December 2015, estimates helping 2,816 homebuyers over the life of the program.166 As of December 31, 2015, the state’s HFA had drawn down $174.6 million (65%) of its HHF funds.167 As of December 31, 2015, the most recent data available, HHF Arizona had spent $141.6 million (53% of its obligated funds) to help homeowners.168 The remaining $20.0 million (7%) was spent on administrative expenses, and $14.3 million (5%) was held as cash-on-hand.169 Figures 4.16 and 4.17 show, in the aggregate and by program, respectively, the number of homeowners HHF Arizona estimated it would help with its HHF programs, the number of homeowners actually assisted and the homeowner admission rate, as of December 31, 2015. PROGRAM THROUGH DECEMBER 31, 2015 0.7% 52.7% 0% 38.9% 7.7% Modification ($61,936,136) Second-Lien Reduction ($9,002,154) Unemployment ($45,712,858) Transition ($792,513) Homebuyer Assistance ($0) Source: Arizona (Home) Foreclosure Prevention Funding Corporation, Hardest Hit Fund Reporting (quarterly performance reports), Quarterly Performance Report Q4 2015, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). xli n February 19, 2016, Treasury announced $2 billion of TARP funds would be transferred to HHF and distributed to 18 of 19 HHF O states. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 4.16 HHF ARIZONA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 12/31/2015 20,000 As of 12/31/2015: Estimate: 6,263 (Peak: 11,959) Homeowner Applications: 17,343 Homeowners Assisted: 4,219 Homeowner Admission Rate: 24% 15,000 10,000 5,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 2011 State Estimated Program Participation Q4 Q1 Q2 Q3 Q4 2012 Q1 Q2 Q3 2013 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range, but excludes the number of homebuyers the state estimates assisting. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and Arizona (Home) Foreclosure Prevention Funding Corporation, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 6/23/2010, and Amendments to Agreement one through sixteen, as of 12/31/2015; Arizona (Home) Foreclosure Prevention Funding Corporation, Quarterly Performance Reports Q3 2010–Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012–Q4 2015, no date. Q4 151 152 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.17 HHF ARIZONA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 PRINCIPAL REDUCTION ASSISTANCE (MODIFICATION)–JUNE 2010 SECOND MORTGAGE ASSISTANCE COMPONENT (SECOND-LIEN REDUCTION)–JUNE 2010 As of 12/31/2015: Estimate: 1,808 (Peak: 7,227) Program Participation:1,184 Homeowner Admission Rate: N/A* 8,000 6,000 As of 12/31/2015: Estimate: 407 (Peak: 1,875) Program Participation: 279 Homeowner Admission Rate: N/A* 2,000 1,500 4,000 1,000 2,000 500 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 4,000 3,000 2010 2011 2012 2013 State Estimated Program Participation Program Participation UNEMPLOYMENT/UNDEREMPLOYMENT/ REINSTATEMENT MORTGAGE ASSISTANCE COMPONENT (UNEMPLOYMENT)–JUNE 2010 5,000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2014 2015 Program Participation SHORT SALE ASSISTANCE COMPONENT (TRANSITION)–MAY 2011 1,200 As of 12/31/2015: Estimate: 3,885 (Peak: 4,140) Program Participation: 2,990 Homeowner Admission Rate: N/A* As of 12/31/2015: Estimate: 163 (Peak: 1,200) Program Participation: 132 Homeowner Admission Rate: N/A* 900 600 2,000 300 1,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 Program Participation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation DOWN PAYMENT ASSISTANCE (HOMEBUYER ASSISTANCE) 5,000 As of 12/31/2015: Estimate: 2,816 (Peak: 2,816) Homebuyer Applications: 0 Homebuyers Assisted: 0 Homebuyer Admission Rate: N/A* 4,000 3,000 2,000 1,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Notes: Programs may have been started or ended at different times. Estimated includes highest estimate of a range. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of reported Homeowner Applications. *Arizona does not report program by program application numbers. Sources: Treasury and Arizona (Home) Foreclosure Prevention Funding Corporation, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 6/23/2010; and Amendments to Agreement one through sixteen, as of 12/31/2015; Arizona (Home) Foreclosure Prevention Funding Corporation, Quarterly Performance Reports Q3 2010 - Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 California’s HHF Programs FIGURE 4.18 Treasury obligated $1,975,334,096 in HHF funds to California, however, on February 19, 2016, Treasury increased that amount by $213,489,977.170,xlii At the end of 2010, HHF California estimated that it would help as many as 101,337 homeowners with HHF but had reduced that by 27%, to 73,800, as of December 31, 2015. As of that date, HHF California had helped 56,203 individual homeowners with its HHF programs, the largest number with unemployment and past due payment assistance.171 As of December 31, 2015, HHF California had defunded two programs: the NeighborWorks Sacramento Short Sale Gateway Program (September 2013) and the Los Angeles Housing Department Principal Reduction Program (February 2014).172 Both defunded programs ended without helping a single homeowner. As of December 31, 2015, California’s HFA had drawn down $1,467.5 million (74%) of its HHF funds.173 As of December 31, 2015, HHF California had spent $1,235.8 million (63% of its obligated funds) to help homeowners.174 The remaining $129.7 million (7%) was spent on administrative expenses, and $138.0 million (7%) was held as cash-on-hand.175 Figures 4.19 and 4.20 show, in the aggregate and by program, respectively, the number of homeowners HHF California estimated it would help with its HHF programs, the number of homeowners actually assisted and the homeowner admission rate, as of December 31, 2015. CA HHF EXPENDITURES, BY PROGRAM CATEGORY xlii n February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF O states. On April 1, 2016, Treasury approved the following allocations of California’s HHF funds: Unemployment Mortgage Assistance Program is increased by $166.4 million, Mortgage Reinstatement Assistance Program is increased by $2.5 million, Principal Reduction Program is increased by $11.8 million, Transition Assistance Program is increased by $0.2 million, and the Reverse Mortgage Assistance Pilot Program is reduced by $1.3 million. PROGRAM THROUGH DECEMBER 31, 2015 0.05% 0.27% 12.27% 49.85% 37.56% Unemployment ($616,226,870) Modification ($464,304,553) Past-Due Payment ($151,608,011) Transition ($3,329,125) Second-Lien Reduction ($589,210) Source: CalHFA Mortgage Assistance Corporation, “Keep Your Home California, Reports & Statistics, Quarterly Reports,” Quarterly Performance Reports Q4 2015, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). 153 154 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.19 HHF CALIFORNIA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 12/31/2015 150,000 As of 12/31/2015: Estimate: 73,800 (Peak: 101,337) Homeowner Applications: 137,469 Homeowners Assisted: 56,203 Homeowner Admission Rate: 41% 120,000 90,000 60,000 30,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 2011 State Estimated Program Participation Q4 Q1 Q2 Q3 Q4 2012 Q1 Q2 Q3 2013 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and CalHFA Mortgage Assistance Corporation, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 6/23/2010; and Amendments to Agreement one through eighteen, as of 12/31/2015; CalHFA Mortgage Assistance Corporation, Quarterly Performance Reports Q4 2010 – Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 4.20 HHF CALIFORNIA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 UNEMPLOYMENT MORTGAGE ASSISTANCE PROGRAM (UNEMPLOYMENT)–JUNE 2010 As of 12/31/2015: Estimate: 47,800 (Peak: 60,531) Homeowner Applications: 78,341 Program Participation: 45,049 Homeowner Admission Rate: 58% 90,000 75,000 MORTGAGE REINSTATEMENT ASSISTANCE PROGRAM (PAST-DUE PAYMENT)–JUNE 2010 As of 12/31/2015: Estimate: 13,100 (Peak: 17,293) Homeowner Applications: 61,252 Program Participation: 10,327 Homeowner Admission Rate: 17% 60,000 50,000 60,000 40,000 45,000 30,000 30,000 20,000 15,000 10,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 Homeowner Applications As of 12/31/2015: Estimate: 10,700 (Peak: 25,135) Homeowner Applications: 54,918 Program Participation: 7,740 Homeowner Admission Rate: 14% 50,000 40,000 2014 2015 Program Participation As of 12/31/2015: Estimate: 1,000 (Peak: 6,471) Homeowner Applications: 2,193 Program Participation: 936 Homeowner Admission Rate: 43% 8,000 6,000 4,000 20,000 2,000 10,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 Program Participation Homeowner Applications COMMUNITY SECOND MORTGAGE PRINCIPAL REDUCTION PROGRAM (SECOND-LIEN REDUCTION)– AUGUST 2011 500 375 125 2013 TRANSITION ASSISTANCE PROGRAM (TRANSITION)–JUNE 2010 10,000 30,000 250 2012 Homeowner Applications PRINCIPAL REDUCTION PROGRAM (MODIFICATION)– JUNE 2010 60,000 2011 State Estimated Program Participation Program Participation REVERSE MORTGAGE ASSISTANCE PILOT PROGRAM (PAST-DUE PAYMENT)–SEPTEMBER 2014 2,000 As of 12/31/2015: Estimate: 830 (Peak: 2,100) Homeowner Applications: 1,214 Program Participation: 260 Homeowner Admission Rate: 21% 1,500 As of 12/31/2015: Estimate: 370 (Peak: 370) Homeowner Applications: 42 Program Participation: 34 Homeowner Admission Rate: 0% 1,000 500 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 Program Participation Homeowner Applications NEIGHBORWORKS SACRAMENTO SHORT SALE GATEWAY PROGRAM (TRANSITION)–AUGUST 2011 LOS ANGELES HOUSING DEPARTMENT PRINCIPAL REDUCTION PROGRAM (MODIFICATION)– AUGUST 2011 200 100 75 Program Ended September 2013 As of 12/31/2015: Estimate: 0 (Peak: 91) Homeowner Applications: 0 Program Participation: 0 Homeowner Admission Rate: 0% 50 25 150 100 50 As of 12/31/2015: Estimate: 0 (Peak: 166) Homeowner Applications: 0 Program Participation: 0 Homeowner Admission Rate: 0% Program Ended February 2014 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation Homeowner Applications 2013 2014 2015 Program Participation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications Notes: Programs may have been started or ended at different times. Estimated includes highest estimate of a range. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of reported Homeowner Applications. Sources: Treasury and CalHFA Mortgage Assistance Corporation, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 6/23/2010; and Amendments to Agreement one through eighteen, as of 12/31/2015; CalHFA Mortgage Assistance Corporation, Quarterly Performance Reports Q4 2010 – Q4 2015, no date. 155 156 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.21 Florida’s HHF Programs FL HHF EXPENDITURES, BY PROGRAM CATEGORY Treasury obligated $1,057,839,136 of HHF funds to Florida, however, on February 19, 2016, Treasury increased that amount by $77,896,538.176,xliii At the start of 2011, HHF Florida estimated that it would help as many as 106,000 homeowners with HHF but had reduced that by 64%, to 37,800, as of December 31, 2015. As of that date, HHF Florida had helped 24,799 individual homeowners through its HHF programs, with the largest numbers in the unemployment and reinstatement programs.177 HHF Florida had also provided HHF assistance to 687 homebuyers through its down payment assistance program. Approved in April 2013, HHF Florida’s Modification Enabling Program had only assisted 158 homeowners in more than two years, as of December 31, 2015. As of December 31, 2015, the state’s HFA had drawn down $668.3 million (63%) of its HHF funds.178 As of December 31, 2015, the most recent data available, HHF Florida had spent $560.4 million (53% of its obligated funds) to help homeowners, and $10.2 million (1%) to help homebuyers.179 The remaining $58.9 million (6%) was spent on administrative expenses, and $43.7 million (4%) was held as cash-on-hand.180 Figures 4.22 and 4.23 show, in the aggregate and by program, respectively, the number of homeowners HHF Florida estimated it would help with its HHF programs, the number of homeowners actually assisted and the homeowner admission rate, as of December 31, 2015. PROGRAM THROUGH DECEMBER 31, 2015 1.8% 26.3% 42.1% 29.8% Past-Due Payment ($150,142,674) Unemployment ($170,271,244) Modification ($240,004,815) Homebuyer Assistance ($10,175,665) Source: Housing Finance Corporation, Florida Hardest Hit Fund (HHF) Information, Quarterly Reports, Quarterly Performance Report Q4 2015, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). xliii n February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF O states. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 4.22 HHF FLORIDA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 12/31/2015 120,000 100,000 80,000 As of 12/31/2015: Estimate: 37,800 (Peak: 106,000) Homeowner Applications: 119,257 Homeowners Assisted: 24,799 Homeowner Admission Rate: 21% 60,000 40,000 20,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 2011 State Estimated Program Participation Q4 Q1 Q2 Q3 Q4 2012 Q1 Q2 Q3 2013 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range, but excludes the number of homebuyers the state estimates assisting. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and Florida Housing Finance Corporation, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 6/23/2010; and Amendments to Agreement one through twelve, as of 12/31/2015; Florida Housing Finance Corporation, Quarterly Performance Reports Q3 2010 – Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. 157 158 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.23 HHF FLORIDA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 UNEMPLOYMENT MORTGAGE ASSISTANCE PROGRAM (UNEMPLOYMENT)–JUNE 2010 As of 12/31/2015: 53,000) Estimate: 25,000* (Peak: 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 Homeowner Applications: 78,890 Program Participation: 16,160 Homeowner Admission Rate: 20% MORTGAGE LOAN REINSTATEMENT PROGRAM (PAST-DUE PAYMENT)–DECEMBER 2010 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 As of 12/31/2015: Estimate: 25,000* (Peak: 53,000) Homeowner Applications: 79,198 Program Participation: 15,652 Homeowner Admission Rate: 20% 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 Program Participation Homeowner Applications MODIFICATION ENABLING PILOT PROGRAM (MODIFICATION)–APRIL 2013 PRINCIPAL REDUCTION PROGRAM (MODIFICATION)– SEPTEMBER 2013 2,000 40,000 32,000 As of 12/31/2015: Estimate: 1,100 (Peak: 1,500) Homeowner Applications: 255 Program Participation: 158 Homeowner Admission Rate: 62% 1,500 1,000 500 As of 12/31/2015: Estimate: 10,000 (Peak: 10,000) Homeowner Applications: 38,291 Program Participation: 5,693 Homeowner Admission Rate: 15% 24,000 16,000 8,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 Program Participation Homeowner Applications ELDERLY MORTGAGE ASSISTANCE PROGRAM (PAST-DUE PAYMENT)–SEPTEMBER 2013 DOWN PAYMENT ASSISTANCE PROGRAM (HOMEBUYER ASSISTANCE)–APRIL 2015 4,000 4,000 3,000 3,200 As of 12/31/2015: Estimate: 1,700 (Peak: 2,500) Homeowner Applications: 4,135 Program Participation: 762 Homeowner Admission Rate: 18% 2,000 1,000 As of 12/31/2015: Estimate: 3,333 (Peak: 3,333) Homebuyer Applications: 715 Homebuyers Assisted: 687 Homebuyer Admission Rate: 96% 2,400 1,600 800 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation Homeowner Applications 2013 2014 2015 Program Participation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homebuyer Applications Notes: Programs may have been started or ended at different times. Estimated includes highest estimate of a range. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of reported Homeowner Applications. *Florida estimates that it will serve approximately 25,000 homeowners in the aggregate between its Unemployment Mortgage Assistance Program and its Mortgage Loan Reinstatement Program. Sources: Treasury and Florida Housing Finance Corporation, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 6/23/2010; and Amendments to Agreement one through twelve, as of 12/31/2015; Florida Housing Finance Corporation, Quarterly Performance Reports Q3 2010 - Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 Georgia’s HHF Programs FIGURE 4.24 Treasury obligated $339,255,819 in HHF funds to Georgia, however, on February 19, 2016, Treasury increased that amount by $30,880,575.181,xliv At the end of 2010, HHF Georgia estimated that it would help as many as 18,300 homeowners with HHF but had reduced that by 30%, to 12,800, as of December 31, 2015. As of that date, HHF Georgia had helped 7,444 individual homeowners through its HHF programs, the vast majority with the unemployment program.182 As of December 31, 2015, HHF Georgia’s Recast/Modification program had helped only 33 homeowners (compared to an estimate of 1,000), and its Mortgage Reinstatement program had assisted only 240 homeowners (compared to a current estimate of 2,800), since those programs were approved in December 2013. As of December 31, 2015, the state’s HFA had drawn down $194 million (57%) of its HHF funds.183 As of December 31, 2015, the most recent data available, HHF Georgia had spent $135.6 million (40% of its obligated funds) to help homeowners.184 The remaining $25.4 million (8%) was spent on administrative expenses, and $34.3 million (10%) was held as cash-on-hand.185 Figures 4.25 and 4.26 show, in the aggregate and by program, respectively, the number of homeowners HHF Georgia estimated it would help with its HHF programs, the number of homeowners actually assisted and the homeowner admission rate, as of December 31, 2015. GA HHF EXPENDITURES, BY PROGRAM CATEGORY xliv n February 19, 2016, Treasury announced $2 billion of TARP funding would be transferred to HHF and distributed to 18 of 19 HHF O states. PROGRAM THROUGH DECEMBER 31, 2015 0.7% 1.7% 97.6% Unemployment ($132,299,860) Past-Due Payment ($2,277,898) Modification ($1,001,291) Source: GHFA Affordable Housing Inc., HomeSafe Georgia, US Treasury Reports, Quarterly Performance Report Q4 2015, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). 159 160 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.25 HHF GEORGIA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 12/31/2015 30,000 25,000 20,000 15,000 As of 12/31/2015: Estimate: 12,800 (Peak: 18,300) Homeowner Applications: 25,457 Homeowners Assisted: 7,441 Homeowner Admission Rate: 29% 10,000 5,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 2011 State Estimated Program Participation Q4 Q1 Q2 Q3 Q4 2012 Q1 Q2 Q3 2013 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and GHFA Affordable Housing Inc., Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010, and Amendments to Agreement one through eight as of 12/31/2015; GHFA Affordable Housing Inc., Quarterly Performance Reports Q4 2010 - Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 4.26 HHF GEORGIA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 MORTGAGE PAYMENT ASSISTANCE (UNEMPLOYMENT)–SEPTEMBER 2010 50,000 MORTGAGE REINSTATEMENT PROGRAM (PAST-DUE PAYMENT)–DECEMBER 2013 5,000 As of 12/31/2015: Estimate: 9,000 (Peak: 18,300) Homeowner Applications: 25,091 Program Participation: 7,171 Homeowner Admission Rate: 29% 40,000 30,000 4,000 As of 12/31/2015: Estimate: 2,800 (Peak: 5,000) Homeowner Applications: 306 Program Participation: 240 Homeowner Admission Rate: 78% 3,000 20,000 2,000 10,000 1,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 Program Participation Homeowner Applications Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications RECAST/MODIFICATION (MODIFICATION)– DECEMBER 2013 1,000 As of 12/31/2015: Estimate: 1,000 (Peak: 1,000) Homeowner Applications: 63 Program Participation: 33 Homeowner Admission Rate: 52% 750 500 250 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications Notes: Programs may have been started or ended at different times. Estimated includes highest estimate of a range. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of reported Homeowner Applications. Sources: Treasury and GHFA Affordable Housing Inc., Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010, and Amendments to Agreement one through eight as of 12/31/2015; GHFA Affordable Housing Inc., Quarterly Performance Reports Q4 2010 - Q4 2015, no date. 161 162 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.27 Illinois’s HHF Programs IL HHF EXPENDITURES, BY PROGRAM CATEGORY Treasury obligated $445,603,557 in HHF funds to Illinois, however, on February 19, 2016, Treasury increased that amount by $118,174,500.186,xlv In mid-2011, HHF Illinois estimated that it would help as many as 29,000 homeowners with HHF but had reduced that by 53%, to 13,500, as of December 31, 2015. As of that date, HHF Illinois had helped 14,013 individual homeowners through its HHF programs, with the largest numbers in the unemployment and home preservation modification programs. HHF Illinois had also provided HHF assistance to 435 homebuyers through its down payment assistance program.187 According to Treasury, Illinois stopped accepting new applications from struggling homeowners seeking help from the state’s HHF programs after September 30, 2013, but, as of March 31, 2016, was again accepting applications for select programs.188 In addition to decreasing the number of homeowners it estimated helping, HHF Illinois has shifted $5.4 million (1%) of its HHF funds away from existing HHF programs to blight elimination, as well as $30 million to the down payment assistance program.xlvi This represents a shift from making payments directly to homeowners or their mortgage servicers to help keep homeowners in their homes. Treasury’s Blight Elimination Program allows for substantial payments of TARP funds to land banks, non-profits and other parties, including demolition contractors, in cash and mortgages that can be forgiven over time. For more information see the blight program update on pages 141-142, and the down payment assistance program on pages 122-126 of this Quarterly Report. As of December 31, 2015, the state’s HFA had drawn down $395 million (89%) of its HHF funds.189 As of December 31, 2015, the most recent data available, HHF Illinois had spent $340.9 million (77% of its obligated funds) to help homeowners and $3.3 million to help homebuyers.190 The remaining $34.1 million (8%) was spent on administrative expenses, and $24.3 million (5%) was held as cash-on-hand.191 No funds had yet been spent on blight elimination.192 Figures 4.28 and 4.29 show, in the aggregate and by program, respectively, the number of homeowners HHF Illinois estimated it would help with its HHF programs, the number of homeowners actually assisted and the homeowner admission rate, as of December 31, 2015. PROGRAM THROUGH DECEMBER 31, 2015 1% 15% 84% Unemployment ($283,166,266) Modification ($52,006,513) Blight Elimination ($0) Homebuyer Assistance ($3,262,500) Source: Illinois Housing Development Authority, Illinois Hardest Hit Program, Reporting, Quarterly Performance Report Q4 2015, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). xlv n February 19, 2016, Treasury announced $2 billion of TARP funding would be transferred to HHF and distributed to18 of 19 HHF O states. xlvi According to Treasury, as of 12/7/2015, HHF Illinois also committed an additional $3.5 million in funds recovered from other HHF programs (lien satisfactions, borrower repayments, etc.) to blight elimination, bringing total commitments for blight elimination to $5.4 million. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 4.28 HHF ILLINOIS PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 12/31/2015 30,000 25,000 20,000 15,000 As of 12/31/2015: Estimate: 13,500 (Peak: 29,000) Homeowner Applications: 20,711 Homeowners Assisted: 14,013 Homeowner Admission Rate: 68% 10,000 5,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 2011 State Estimated Program Participation Q4 Q1 Q2 Q3 Q4 2012 Q1 Q2 Q3 2013 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range, but excludes Illinois estimate of the number of blighted properties to be eliminated and the number of homebuyers the state estimates assisting. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and Illinois Housing Development Authority, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010, and Amendments to Agreement one through eleven, as of 12/31/2015; Illinois Housing Development Authority, Quarterly Performance Reports Q1 2011 – Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. 163 164 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.29 HHF ILLINOIS ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 HARDEST HIT FUND HOMEOWNER EMERGENCY LOAN PROGRAM (UNEMPLOYMENT)– As of 12/31/2015: SEPTEMBER 2010 MORTGAGE RESOLUTION FUND PROGRAM (MODIFICATION)–AUGUST 2011 Estimate: 12,000 (Peak: 27,000) Homeowner Applications: 19,614 Program Participation: 13,425 Homeowner Admission Rate: 68% 30,000 25,000 20,000 2,000 15,000 1,000 10,000 500 5,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 2013 2014 2015 Program Participation HARDEST HIT FUND BLIGHT REDUCTION PROGRAM (BLIGHT)–APRIL 2014 100 750 300 2012 Homeowner Applications HARDEST HIT FUND HOME PRESERVATION PROGRAM (MODIFICATION)–SEPTEMBER 2012 450 2011 State Estimated Program Participation Program Participation Homeowner Applications 600 As of 12/31/2015: Estimate: 1,000 (Peak: 2,000) Homeowner Applications: 441 Program Participation: 170 Homeowner Admission Rate: 39% 1,500 As of 12/31/2015: Estimate: 500 (Peak: 500) Homeowner Applications: 606 Program Participation: 522 Homeowner Admission Rate: 86% 75 As of 12/31/2015: Blighted homes proposed to be demolished: 50 Actual blighted homes demolished: 0 50 25 150 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 Program Participation Homeowner Applications Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications HARDEST HIT FUND DOWN PAYMENT ASSISTANCE PROGRAM (HOMEBUYER ASSISTANCE) – JULY 2015 4,000 3,000 As of 12/31/2015: Estimate: 4,000 (Peak: 4,000) Homebuyer Applications: 2,262 Homebuyers Assisted: 435 Homebuyer Admission Rate: 19% 2,000 1,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homebuyer Applications Notes: Programs may have been started or ended at different times. Estimated includes highest estimate of a range, but excludes Illinois estimate of the number of blighted properties to be eliminated. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of reported Homeowner Applications. Sources: Treasury and Illinois Housing Development Authority, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010, and Amendments to Agreement one through eleven, as of 12/31/2015; Illinois Housing Development Authority, Quarterly Performance Reports Q1 2011 – Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 Indiana’s HHF Programs FIGURE 4.30 Treasury obligated $221,694,139 in HHF funds to Indiana, however, on February 19, 2016, Treasury increased that amount by $28,565,323.193,xlvii At the start of 2011, HHF Indiana estimated helping as many as 16,257 homeowners with HHF but had reduced that by 37%, to 10,184, as of December 31, 2015. As of that date, HHF Indiana had helped 6,869 individual homeowners through its HHF programs, with the largest number in its unemployment program. HHF Indiana’s Recast Program, which began in March 2013, had only 120 participants, while the Transition Assistance Program, also started on the same date, had just 13 participants.194 In addition to decreasing the number of homeowners it estimated helping, HHF Indiana has shifted $75 million (34%) of its HHF funds away from existing HHF programs to blight elimination. This represents a shift from making payments directly to homeowners or their mortgage servicers to help keep homeowners in their homes. Treasury’s Blight Elimination Program allows for substantial payments of TARP funds to land banks, non-profits and other parties, including demolition contractors, in cash and mortgages that can be forgiven over time. For more information see the blight program update on pages 136-140 of this Quarterly Report. As of December 31, 2015, the state’s HFA had drawn down $146.6 million (66%) of its HHF funds.195 As of December 31, 2015, the most recent data available, HHF Indiana had spent $94.1 million (42% of its obligated funds) to help homeowners.196 HHF Indiana had also spent $4.9 million to demolish 270 properties as of December 31, 2015.197 The remaining $24.8 million (11%) was spent on administrative expenses, and $23.5 million (11%) was held as cash-on-hand.198 Figures 4.31 and 4.32 show, in the aggregate and by program, respectively, the number of homeowners HHF Indiana estimated it would help with its HHF programs, the number of homeowners actually assisted and the homeowner admission rate, as of December 31, 2015. IN HHF EXPENDITURES, BY PROGRAM CATEGORY xlvii n February 19, 2016, Treasury announced $2 billion of TARP funding would be transferred to HHF and distributed to 18 of 19 O HHF states. On April 1, 2016, Treasury approved the following allocations of Indiana’s HHF funds: Unemployment Bridge Program is increased by $33.6 million, Recast/Modification Program is reduced by $7.5 million, and the Transition Assistance Program is reduced by $1 million. PROGRAM THROUGH DECEMBER 31, 2015 4.96% 0.05% 3.43% 91.56% Unemployment ($90,652,427) Modification ($3,396,009) Transition ($46,665) Blight Elimination ($4,915,260) Source: Indiana Housing and Community Development Authority, Indiana’s Hardest Hit Fund, Quarterly Reports to the U.S. Treasury, Quarterly Performance Report Q4 2015, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). 165 166 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.31 HHF INDIANA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 12/31/2015 20,000 15,000 10,000 As of 12/31/2015: Estimate: 10,184 (Peak: 16,257) Homeowner Applications: 8,686 Homeowners Assisted: 6,869 Homeowner Admission Rate: 79% 5,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 2011 State Estimated Program Participation Q4 Q1 Q2 Q3 Q4 2012 Q1 Q2 Q3 2013 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range, but excludes Indiana's estimate of the number of blighted properties to be eliminated. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and Indiana Housing and Community Development Authority, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010, and Amendments to Agreement one through nine, as of 12/31/2015; Indiana Housing and Community Development Authority, Quarterly Performance Reports Q2 2011 – Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. Q4 QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 4.32 HHF INDIANA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 HARDEST HIT FUND UNEMPLOYMENT BRIDGE PROGRAM (UNEMPLOYMENT)–SEPTEMBER 2010 HARDEST HIT FUND RECAST/MODIFICATION PROGRAM (MODIFICATION)–MARCH 2013 As of 12/31/2015: Estimate: 8,000 (Peak: 16,257) Homeowner Applications: 8,315 Program Participation: 6,736 Homeowner Admission Rate: 81% 20,000 15,000 2,000 1,500 10,000 5,000 As of 12/31/2015: Estimate: 2,000 (Peak: 2,000) Homeowner Applications: 410 Program Participation: 120 Homeowner Admission Rate: 29% 1,000 500 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 Homeowner Applications 50 2013 2014 2015 Program Participation HARDEST HIT FUND BLIGHT ELIMINATION PROGRAM (BLIGHT)–DECEMBER 2013 200 100 2012 Homeowner Applications HARDEST HIT FUND TRANSITION ASSISTANCE PROGRAM (TRANSITION)–MARCH 2013 150 2011 State Estimated Program Participation Program Participation 5,000 4,000 As of 12/31/2015: Estimate: 184 (Peak: 184) Homeowner Applications: 47 Program Participation: 13 Homeowner Admission Rate: 28% 3,000 2,000 As of 12/31/2015: Blighted homes proposed to be demolished: 5,000 Actual blighted homes demolished: 270 1,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation Homeowner Applications 2013 2014 2015 Program Participation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications Notes: Programs may have been started or ended at different times. Estimated includes highest estimate of a range, but excludes Indiana’s estimate of the number of blighted properties to be eliminated. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of reported Homeowner Applications. Sources: Treasury and Indiana Housing and Community Development Authority, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010 and Amendments to Agreement one through nine, as of 12/31/2015; Indiana Housing and Community Development Authority, Quarterly Performance Reports Q2 2011 – Q4 2015, no date. 167 168 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.33 Kentucky’s HHF Program KY HHF EXPENDITURES, BY PROGRAM CATEGORY Treasury obligated $148,901,875 in HHF funds to Kentucky, however, on February 19, 2016, Treasury increased that amount by $30,148,245.199,xlviii At the end of 2010, HHF Kentucky estimated that it would help as many as 15,000 homeowners but had reduced that by 45%, to 8,241, as of December 31, 2015. As of that date, through its unemployment program, HHF Kentucky had helped 7,552 individual homeowners. On April 1, 2016, Treasury approved the allocation of an additional $8.5 million to HHF Kentucky’s down payment assistance program, bringing the total for that program to $15.5 million. Kentucky estimates helping a total of 1,316 homebuyers with this program.200 As of December 31, 2015, the state’s HFA had drawn down $124.5 million (84%) of its HHF funds and spent $99.9 million (67% of its obligated funds) to help homeowners.201 The remaining $13.8 million (9%) was spent on administrative expenses, and $12.6 million (8%) was held as cash-on-hand.202 Figures 4.34 and 4.35 show, in the aggregate and by program, respectively, the number of homeowners HHF Kentucky estimated it would help with its HHF programs, the number of homeowners actually assisted and the homeowner admission rate, as of December 31, 2015. PROGRAM THROUGH DECEMBER 31, 2015 100% Unemployment ($99,857,910) Homebuyer Assistance ($0) Source: Kentucky Housing Corporation, Quarterly Performance Report Q4 2015 (may differ from cash disbursements reported on the state’s Quarterly Financial Report). xlviii n February 19, 2016, Treasury announced $2 billion of TARP funding would be transferred to HHF and distributed to 18 of 19 HHF O states. On April 1, 2016, Treasury approved the following allocations of Kentucky’s HHF funds: Unemployment Bridge Program is increased by $20.8 million, and the Down Payment Assistance Program is increased by $8.5 million. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 4.34 HHF KENTUCKY PROGRAM PERFORMANCE, ALL HFF PROGRAMS, AS OF 12/31/2015 15,000 12,000 9,000 As of 12/31/2015: Estimate: 8,241 (Peak: 15,000) Homeowner Applications: 11,162 Homeowners Assisted: 7,552 Homeowner Admission Rate: 68% 6,000 3,000 0 Q1 Q2 Q3 Q4 Q1 Q2 2010 Q3 Q4 Q1 Q2 2011 State Estimated Program Participation Q3 Q4 Q1 2012 Q2 Q3 Q4 Q1 Q2 2013 Q3 Q4 Q1 Q2 2014 Q3 Q4 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range, but excludes the number of homebuyers the state estimates assisting. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and Kentucky Housing Corporation, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010, and Amendments to Agreement one through eight, as of 12/31/2015; Kentucky Housing Corporation, Quarterly Performance Reports Q4 2010 – Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. FIGURE 4.35 HHF KENTUCKY ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 UNEMPLOYMENT BRIDGE PROGRAM (UNEMPLOYMENT)–SEPTEMBER 2010 As of 12/31/2015: Estimate: 8,241 (Peak: 15,000) Homeowner Applications: 11,162 Program Participation: 7,552 Homeowner Admission Rate: 68% 25,000 20,000 HARDEST HIT FUND DOWN PAYMENT ASSISTANCE PROGRAM (HOMEBUYER ASSISTANCE) –OCTOBER 2015 500 400 15,000 10,000 200 5,000 As of 12/31/2015: Estimate: 467 (Peak: 467) Homebuyer Applications: 0 Homebuyers Assisted: 0 Homebuyer Admission Rate: 0% 300 100 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation Homebuyer Applications 2013 2014 2015 Program Participation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homebuyer Applications Notes: Programs may have been started or ended at different times. Estimated includes highest estimate of a range. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of reported Homeowner Applications. Sources: Treasury and Kentucky Housing Corporation, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010, and Amendments to Agreement one through eight, as of 12/31/2015; Kentucky Housing Corporation, Quarterly Performance Reports Q4 2010 - Q4 2015, no date. 169 170 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.36 Michigan’s HHF Programs MI HHF EXPENDITURES, BY PROGRAM CATEGORY Treasury obligated $498,605,738 in HHF funds to Michigan however, on February 19, 2016, Treasury increased that amount by $74,491,816.203,xlix At the end of 2010, HHF Michigan estimated that it would help as many as 49,422 homeowners with HHF but had reduced that by 83%, to 8,542, as of December 31, 2015. As of that date, HHF Michigan had helped 29,278 individual homeowners through its HHF programs, with the largest numbers in the past-due payment assistance and unemployment programs.204 As of March 31, 2016, HHF Michigan has stopped accepting new applications under its primary HHF programs. In addition to decreasing the number of homeowners it estimated helping, as of April 1, 2016, HHF Michigan has shifted $263.6 million (46%) of its HHF funds away from existing HHF programs to blight elimination.205 This represents a shift from making payments directly to homeowners or their mortgage servicers to help keep homeowners in their homes. Treasury’s Blight Elimination Program allows for substantial payments of TARP funds to land banks, non-profits and other parties, including demolition contractors, in cash and mortgages that can be forgiven over time. For more information, see the blight program update on pages 130-132 of this Quarterly Report. As of December 31, 2015, the state’s HFA had drawn down $440.8 million (88%) of its HHF funds.206 As of December 31, 2015, the most recent data available, HHF Michigan had spent $230.6 million (46% of its obligated funds) to help homeowners; it had also spent $111.2 million (22%) to demolish 7,435 vacant properties.207 The remaining $31.4 million (6%) was spent on administrative expenses, and $71.3 million (14%) was held as cash-on-hand.208 Figures 4.37 and 4.38 show, in the aggregate and by program, respectively, the number of homeowners HHF Michigan estimated it would help with its HHF programs, the number of homeowners actually assisted and the homeowner admission rate, as of December 31, 2015. PROGRAM THROUGH DECEMBER 31, 2015 45% 33% 19% 3% Past-Due Payment ($153,099,739) Modification ($10,873,854) Unemployment ($66,641,571) Blight Elimination ($111,173,791) Source: Michigan Homeowner Assistance Nonprofit Housing Corporation, Hardest Hit U.S. Treasury Reports, Quarterly Performance Reports Q4 2015, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). xlix On February 19, 2016, Treasury announced $2 billion of TARP funding would be transferred to HHF and distributed to 18 of 19 HHF states. On April 1, 2016, Treasury approved the following allocations of Michigan’s HHF funds: Loan Rescue Program is increased by $18.6 million and the Blight Elimination Program is increased by $55.9 million QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 4.37 HHF MICHIGAN PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 12/31/2015 80,000 As of 12/31/2015: Estimate: 8,542 (Peak: 49,422) Homeowner Applications: 60,039 Homeowners Assisted: 29,278 Homeowner Admission Rate: 49% 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 2011 State Estimated Program Participation Q4 Q1 Q2 Q3 Q4 2012 Q1 Q2 Q3 2013 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range, but excludes Michigan's estimate of the number of blighted properties to be eliminated. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and Michigan Homeowner Assistance Nonprofit Housing Corporation, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 6/23/2010, and Amendments to Agreement one through eleven, as of 12/31/2015; Michigan Homeowner Assistance Nonprofit Housing Corporation, Quarterly Performance Reports Q3 2010 - Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. Q4 171 172 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.38 HHF MICHIGAN ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 PRINCIPAL CURTAILMENT PROGRAM (MODIFICATION)– JUNE 2010 As of 12/31/2015: Estimate: 300 (Peak: 3,044) Homeowner Applications: 1,498 Program Participation: 305 Homeowner Admission Rate: 20% 4,000 3,000 2,000 LOAN RESCUE PROGRAM (PAST-DUE PAYMENT)– JUNE 2010 As of 12/31/2015: Estimate: 5,220 (Peak: 21,760) Homeowner Applications: 45,682 Program Participation: 19,977 Homeowner Admission Rate: 44% 45,000 37,500 30,000 22,500 15,000 1,000 7,500 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 Program Participation Homeowner Applications UNEMPLOYMENT MORTGAGE SUBSIDY PROGRAM (UNEMPLOYMENT)–JUNE 2010 As of 12/31/2015: Estimate: 2,728 (Peak: 24,618) Homeowner Applications: 11,705 Program Participation: 8,662 Homeowner Admission Rate: 74% 25,000 20,000 15,000 MODIFICATION PLAN PROGRAM (MODIFICATION)– JUNE 2013 1,250 1,000 750 10,000 500 5,000 As of 12/31/2015: Estimate: 294 (Peak: 825) Homeowner Applications: 1,154 Program Participation: 334 Homeowner Admission Rate: 29% 250 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 Program Participation Homeowner Applications Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications BLIGHT ELIMINATION PROGRAM (BLIGHT)–JUNE 2013 10,000 8,000 As of 12/31/2015: Blighted homes proposed to be demolished: 8,308 Actual blighted homes demolished: 7,435 6,000 4,000 2,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications Notes: Programs may have been started or ended at different times. Estimated includes highest estimate of a range, but excludes Michigan’s estimate of the number of blighted properties to be eliminated. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of reported Homeowner Applications. Sources: Treasury and Michigan Homeowner Assistance Nonprofit Housing Corporation, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 6/23/2010, and Amendments to Agreement one through eleven, as of 12/31/2015; Michigan Homeowner Assistance Nonprofit Housing Corporation, Quarterly Performance Reports Q3 2010 - Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 Mississippi’s HHF Program Treasury obligated $101,888,323 in HHF funds to Mississippi, however, on February 19, 2016, Treasury increased that amount by $19,340,040.209,l At the end of 2010, HHF Mississippi estimated that it would provide HHF unemployment assistance to as many as 3,800 homeowners, but had reduced that by 8%, to 3,500, as of December 31, 2015. As of that date, HHF Mississippi had helped 3,589 individual homeowners with its single HHF program.210 As of December 31, 2015, the state’s HFA had drawn down $76.6 million (75%) of its HHF funds and spent $62.1 million (61% of its obligated funds) to help homeowners.211 The remaining $10.7 million (11%) was spent on administrative expenses, and $4.1 million (4%) was held as cash-on-hand.212 Figure 4.39 shows, in the aggregate, the number of homeowners HHF Mississippi estimated it would help with its HHF program, the number of homeowners actually assisted and the homeowner admission rate, as of December 31, 2015. FIGURE 4.39 HHF MISSISSIPPI PROGRAM PERFORMANCE, AS OF 12/31/2015 As of 12/31/2015: Estimate: 3,500 (Peak: 3,800) Homeowner Applications: 5,613 Homeowners Assisted: 3,589 Homeowner Admission Rate: 64% 6,000 5,000 4,000 3,000 2,000 1,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 2011 State Estimated Program Participation Q4 Q1 Q2 Q3 Q4 2012 Q1 Q2 Q3 2013 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and Mississippi Home Corporation, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010, and Amendments to Agreement one through nine, as of 12/31/2015; Mississippi Home Corporation, Quarterly Performance Reports Q4 2010 - Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. l On February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF states. 173 174 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.40 Nevada’s HHF Programs NV HHF EXPENDITURES, BY PROGRAM CATEGORY Treasury obligated $194,026,240 in HHF funds to Nevada, however, on February 19, 2016, Treasury increased that amount by $8,885,641.213,li In mid-2011, HHF Nevada estimated that it would help as many as 23,556 homeowners with HHF, but had reduced that peak estimate by 66%, to 8,026, as of December 31, 2015. As of that date, HHF Nevada had helped 5,344 individual homeowners with its HHF programs, with the largest numbers in the unemployment and principal reduction programs.214 As of December 31, 2015, HHF Nevada had defunded two programs: Nevada’s Home Retention Program, launched in September 2013, and its Recast Refinance program, launched in June 2014. Neither program had helped a single homeowner.215 As of December 31, 2015, the state’s HFA had drawn down $112 million (58%) of its HHF funds.216 As of December 31, 2015, the most recent data available, HHF Nevada had spent $88.4 million (46% of its obligated funds) to help homeowners.217 The remaining $16.1 million (8%) was spent on administrative expenses, and $8.7 million (4%) was held as cash-on-hand.218 Figures 4.41 and 4.42 show, in the aggregate and by program, respectively, the number of homeowners HHF Nevada estimated it would help with its HHF programs, the number of homeowners actually assisted and homeowner admission rate, as of December 31, 2015. PROGRAM THROUGH DECEMBER 31, 2015 57.3% 36.6% 0.3% 5.7% Modification ($50,698,759) Second-Lien Reduction ($5,071,036) Transition ($289,179) Unemployment ($32,373,457) Source: Nevada Affordable Housing Assistance Corporation, Nevada Hardest Hit Fund, US Treasury Reports, Quarterly Performance Report Q4 2015, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). li On February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF states. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 4.41 HHF NEVADA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 12/31/2015 25,000 As of 12/31/2015: Estimate: 8,026 (Peak: 23,556) Homeowner Applications: 14,191 Homeowners Assisted: 5,344 Homeowner Admission Rate: 38% 20,000 15,000 10,000 5,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 2011 State Estimated Program Participation Q4 Q1 Q2 Q3 Q4 2012 Q1 Q2 Q3 2013 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. As of December 31, 2015, Nevada reported 5,344 individual homeowners helped with HHF programs, revised down from 5,539 reported as of December 31, 2014. Sources: Treasury and Nevada Affordable Housing Assistance Corporation, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 6/23/2010, and Amendments to Agreement one through fifteen, as of 12/31/2015; Nevada Affordable Housing Assistance Corporation, Quarterly Performance Reports Q1 2011 – Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. 175 176 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.42 HHF NEVADA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 PRINCIPAL REDUCTION PROGRAM (MODIFICATION)– As of 12/31/2015: JUNE 2010 Estimate: 2,550 (Peak: 3,016) Homeowner Applications: 3,019 Program Participation: 1,223 Homeowner Admission Rate: 41% 4,000 3,000 SECOND MORTGAGE REDUCTION PLAN (SECOND-LIEN REDUCTION)–JUNE 2010 2,500 2,000 1,500 2,000 1,000 1,000 500 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 2012 2013 2014 2015 Program Participation Homeowner Applications SHORT-SALE ACCELERATION PROGRAM (TRANSITION)–JUNE 2010 2,000 MORTGAGE ASSISTANCE PROGRAM (UNEMPLOYMENT)–SEPTEMBER 2010 As of 12/31/2015: Estimate: 100 (Peak: 1,713) Homeowner Applications: 394 Program Participation: 104 Homeowner Admission Rate: 26% 1,500 1,000 500 20,000 As of 12/31/2015: Estimate: 3,900 (Peak: 16,969) Homeowner Applications: 9,817 Program Participation: 3,699 Homeowner Admission Rate: 38% 15,000 10,000 5,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 Program Participation Homeowner Applications MORTGAGE ASSISTANCE PROGRAM ALTERNATIVE (UNEMPLOYMENT)–FEBRUARY 2012 HOME RETENTION PROGRAM (MODIFICATION)– AUGUST 2013 1,200 500 1,000 375 125 2011 State Estimated Program Participation Program Participation Homeowner Applications 250 As of 12/31/2015: Estimate: 1,300 (Peak: 2,200) Homeowner Applications: 1,703 Program Participation: 421 Homeowner Admission Rate: 25% 3,000 800 As of 12/31/2015: Estimate: 176 (Peak: 416) Homeowner Applications: 236 Program Participation: 226 Homeowner Admission Rate: 96% 600 400 200 0 As of 12/31/2015: Estimate: 0 (Peak: 1,150) Homeowner Applications: 0 Program Participation: 0 Homeowner Admission Rate: 0% Program Ended June 2015 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 Program Participation Homeowner Applications Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications NEVADA RECAST REFINANCE AND MODIFICATION PROGRAM (MODIFICATION)–JUNE 2014 1,000 750 As of 12/31/2015: Estimate: 0 (Peak: 1,000) Homeowner Applications: 0 Program Participation: 0 Homeowner Admission Rate: 0% 500 250 Program Ended June 2015 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications Notes: Programs may have been started or ended at different times. Estimated includes highest estimate of a range. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of reported Homeowner Applications. Sources: Treasury and Nevada Affordable Housing Assistance Corporation, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 6/23/2010, and Amendments to Agreement one through fifteen, as of 12/31/2015; Nevada Affordable Housing Assistance Corporation, Quarterly Performance Reports Q1 2011 - Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 New Jersey’s HHF Program FIGURE 4.43 Treasury obligated $300,548,144 in HHF funds to New Jersey however, on February 19, 2016, Treasury increased that amount by $69,231,301.219,lii From the end of 2010 to the end of 2013, HHF New Jersey estimated helping 6,900 homeowners with HHF but had reduced that by 1%, to 6,845, as of December 31, 2015. As of that date, HHF New Jersey had helped 6,017 individual homeowners with its HHF programs, the majority through its unemployment program.220 According to Treasury, HHF New Jersey had previously stopped accepting new applications from homeowners after November 30, 2013, but, as of March 31, 2016, was again accepting applications under select programs.221 As of December 31, 2015, HHF New Jersey had drawn down $270.5 million (90%) of its HHF funds and spent $229.1 million (76%) of its obligated funds on program expenses to help homeowners.222 The remaining $24.4 million (8%) was spent on administrative expenses, and $20.6 million (7%) was held as cash-on-hand.223 Figures 4.44 and 4.45 show, in aggregate, the number of homeowners estimated to participate in HHF New Jersey’s programs (estimated program participation), the reported number of homeowners who participated in one or more programs (program participation), and the total number of individual homeowners assisted overall, and by program respectively, as of December 31, 2015. NJ HHF EXPENDITURES, BY PROGRAM CATEGORY lii n February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF O states. PROGRAM THROUGH DECEMBER 31, 2015 0.3% 99.7% Unemployment ($228,368,102) Modification ($688,793) Source: New Jersey Housing and Mortgage Finance Agency, The New Jersey HomeKeeper Program, About the Program, Performance Reports, Quarterly Performance Report Q4 2015, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). 177 178 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.44 HHF NEW JERSEY PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 12/31/2015 15,000 As of 12/31/2015: Estimate: 6,845 (Peak: 6,900) Homeowner Applications: 13,515 Homeowners Assisted: 6,017 Homeowner Admission Rate: 45% 12,000 9,000 6,000 3,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 Q4 2011 Q1 Q2 Q3 Q4 2012 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 Q2 2013 Q3 Q4 2014 Q1 Q2 Q3 Q4 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and New Jersey Housing and Mortgage Finance Agency, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010, Amendments to Agreement one through eight, as of 12/31/2015; New Jersey Housing and Mortgage Finance Agency, Quarterly Performance Reports Q3 2011 - Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. FIGURE 4.45 HHF NEW JERSEY ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 NEW JERSEY HOMEKEEPER PROGRAM (UNEMPLOYMENT ASSISTANCE)–SEPTMEBER 2010 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 As of 12/31/2015: Estimate: 6,500 (Peak: 6,900) Homeowner Applications: 13,093 Program Participation: 6,005 Homeowner Admission Rate: 46% NEW JERSEY HOME SAVER PROGRAM (MODIFICATION)–MAY 2015 800 600 As of 12/31/2015: Estimate: 345 (Peak: 345) Homeowner Applications: 783 Program Participation: 15 Homeowner Admission Rate: 2% 400 200 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation Homeowner Applications 2013 2014 2015 Program Participation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications Notes: Programs may have been started or ended at different times. Estimated includes highest estimate of a range. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of reported Homeowner Applications. Sources: Treasury and New Jersey Housing and Mortgage Finance Agency, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010, Amendments to Agreement one through eight, as of 12/31/2015; New Jersey Housing and Mortgage Finance Agency, Quarterly Performance Reports Q3 2011 - Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 North Carolina’s HHF Programs FIGURE 4.46 Treasury obligated $482,781,786 in HHF funds to North Carolina, however, on February 19, 2016, Treasury increased that amount by $78,016,445.224,liii From mid-2011 to mid-2013, HHF North Carolina estimated that it would help as many as 22,290 homeowners with HHF but had reduced that by 12%, to 19,619, as of December 31, 2015. As of that date, HHF North Carolina had helped 21,100 individual homeowners, through its HHF programs, with the largest number in its two unemployment programs.225 HHF North Carolina has ended two programs that had not assisted any homeowners: the Permanent Loan Modification Program (August 2013) and the Principal Reduction Recast Program (December 2013). HHF North Carolina’s Modification Enabling Pilot Project, approved in December 2013, had just 27 participants as of December 31, 2015. On April 1, 2016, Treasury approved allocating an additional $15 million in North Carolina’s HHF funds to its down payment assistance program, bringing the total for that program to $30 million. As of December 31, 2015, the state’s HFA had drawn down $438 million (91%) of its HHF funds and spent $350.7 million (73%) of their obligated funds on program expenses to help homeowners.226 The remaining $57.7 million (12%) was spent on administrative expenses, and $37.3 million (8%) was held as cash-on-hand.227 Figures 4.47 and 4.48 show, in the aggregate and by program, respectively, the number of homeowners HHF North Carolina estimated it would help with its programs, the number of homeowners actually assisted and the homeowner admission rate, as of December 31, 2015. NC HHF EXPENDITURES, BY PROGRAM CATEGORY liii n February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF O states. On April 1, 2016, Treasury approved the following allocations of North Carolina’s HHF funds: Mortgage Payment Program is increased by $25.8 million, Second Mortgage Refinance Program is increased by $0.6 million, Principal Reduction Recast/Lien Extinguishment for Unaffordable Mortgages is increased by $25.8 million, and Down Payment Assistance is increased by $15 million. PROGRAM THROUGH DECEMBER 31, 2015 1% 0.8% 98.2% Modification ($2,854,285) Second-Lien Reduction ($3,614,670) Unemployment ($344,254,633) Homebuyer Assistance ($0) Source: North Carolina Housing Finance Agency, Hardest Hit Fund & Performance Reporting, Quarterly Performance Report Q4 2015, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). 179 180 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.47 HHF NORTH CAROLINA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 12/31/2015 As of 12/31/2015: Estimate: 19,619 (Peak: 22,290) Homeowner Applications: 31,724 Homeowners Assisted: 21,100 Homeowner Admission Rate: 67% 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 2011 State Estimated Program Participation Q4 Q1 Q2 Q3 Q4 2012 Q1 Q2 Q3 2013 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range, but excludes the number of homebuyers the state estimates assisting. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and North Carolina Housing Finance Agency, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 8/23/2010, and Amendments to Agreement one through eleven, as of 12/31/2015; North Carolina Housing Finance Agency, Quarterly Performance Reports Q3 2010 – Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 4.48 HHF NORTH CAROLINA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 MORTGAGE PAYMENT PROGRAM-2 (UNEMPLOYMENT)–SEPTEMBER 2010 MORTGAGE PAYMENT PROGRAM-1 (UNEMPLOYMENT)–SEPTEMBER 2010 12,000 10,000 8,000 As of 12/31/2015: Estimate: 5,160 (Peak: 5,750) Homeowner Applications: 11,525 Program Participation: 5,793 Homeowner Admission Rate: 50% As of 12/31/2015: Estimate: 13,869 (Peak: 14,100) Homeowner Applications: 23,397 Program Participation: 15,226 Homeowner Admission Rate: 65% 24,000 20,000 16,000 6,000 12,000 4,000 8,000 2,000 4,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 2010 2015 SECOND MORTGAGE REFINANCE PROGRAM (SECOND-LIEN REDUCTION)–SEPTEMBER 2010 2,000 2013 2014 2015 Program Participation MODIFICATION ENABLING PILOT PROJECT (MODIFICATION)–DECEMBER 2013 As of 12/31/2015: Estimate: 240 (Peak: 2,000) Homeowner Applications: 372 Program Participation: 175 Homeowner Admission Rate: 47% 3,000 2012 Homeowner Applications Homeowner Applications 4,000 2011 State Estimated Program Participation Program Participation 1,000 As of 12/31/2015: Estimate: 50 (Peak: 800) Homeowner Applications: 28 Program Participation: 27 Homeowner Admission Rate: 96% 750 500 1,000 250 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 Program Participation Homeowner Applications PRINCIPAL REDUCTION RECAST/LIEN EXTINGUISHMENT FOR UNAFFORDABLE MORTGAGES (MODIFICATION)–JUNE 2015 DOWN PAYMENT ASSISTANCE (HOMEBUYER ASSISTANCE)–JULY 2015 1,000 2,000 750 1,500 As of 12/31/2015: Estimate: 300 (Peak: 600) Homeowner Applications: 429 Program Participation: 48 Homeowner Admission Rate: 11% 500 250 As of 12/31/2015: Estimate: 1,000 (Peak: 1,000) Homebuyer Applications: 359 Homebuyers Assisted: 0 Homebuyer Admission Rate: 0% 1,000 500 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 Program Participation Homebuyer Applications PERMANENT LOAN MODIFICATION PROGRAM (MODIFICATION)–SEPTEMBER 2010 500 PRINCIPAL REDUCTION RECAST PROGRAM (MODIFICATION)–AUGUST 2013 Program Ended August 2013 375 As of 12/31/2015: Estimate: 0 (Peak: 440) Program Participation: 0 Homeowner Admission Rate: 0% 250 125 2,000 Program Ended December 2013 1,500 As of 12/31/2015: Estimate: 0 (Peak: 680) Program Participation: 0 Homeowner Admission Rate: 0% 1,000 500 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation Homeowner Applications 2013 2014 2015 Program Participation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications Notes: Programs may have been started or ended at different times. Estimated includes highest estimate of a range. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of reported Homeowner Applications. Sources: Treasury and North Carolina Housing Finance Agency, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 8/23/2010, and Amendments to Agreement one through eleven, as of 12/31/2015; North Carolina Housing Finance Agency, Quarterly Performance Reports Q3 2010 - Q4 2015, no date. 181 182 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.49 Ohio’s HHF Programs OH HHF EXPENDITURES, BY PROGRAM CATEGORY Treasury obligated $570,395,099 in HHF funds to Ohio, however, on February 19, 2016, Treasury increased that amount by $97,590,720.228,liv At the end of 2010, HHF Ohio estimated that it would help as many as 63,485 homeowners with HHF but had reduced that by 35%, to 41,201, as of December 31, 2015. As of that date, HHF Ohio had helped 24,533 individual homeowners with its HHF programs, with the largest numbers in the past due payment and unemployment assistance programs.229 HHF Ohio ended its Short Refinance Program in December 2012, which had not helped a single homeowner over the program’s life. HHF Ohio’s Transition Assistance Program, launched in September 2010, had only helped 75 homeowners during more than five years of operation through December 31, 2015. According to Treasury, HHF Ohio had stopped accepting new applications from homeowners after April 30, 2014.230 In addition to decreasing the number of homeowners it estimated helping, HHF Ohio has shifted $79.5 million (14%) of its HHF funds away from existing HHF programs to blight elimination as of December 31, 2015.231 This represents a shift from making payments directly to homeowners or their mortgage servicers to help keep homeowners in their homes. Treasury’s Blight Elimination Program allows for substantial payments of TARP funds to land banks, non-profits and other parties, including demolition contractors, in cash and mortgages that can be forgiven over time. For more information, see the blight program update on pages 133-135 of this Quarterly Report. As of December 31, 2015, the state’s HFA had drawn down $520.2 million (91%) of its HHF funds.232 As of December 31, 2015, the most recent data available, HHF Ohio had spent $425.1 million (75% of its obligated funds) to help homeowners; it had also spent $19 million to demolish and remove 1,588 properties under its blight elimination program.233 The remaining $51.2 million (9%) was spent on administrative expenses, and $30 million (5%) was held as cash-on-hand.234 PROGRAM THROUGH DECEMBER 31, 2015 0.1% 40.7% 4.3% 38.8% 16.1% Past-Due Payment ($178,222,004) Modification ($70,779,710) Unemployment ($169,966,708) Transition ($360,966) Blight Elimination ($19,033,387) Source: Ohio Homeowner Assistance LLC, Save the Dream Ohio: Quarterly Reports, Quarterly Performance Report Q4 2015, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). Figures 4.50 and 4.51 show, in the aggregate and by program, respectively, the number of homeowners HHF Ohio estimated it would help with its HHF programs, the number of homeowners actually assisted, and the homeowner admission rate, as of December 31, 2015. liv n February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF O states. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 4.50 HHF OHIO PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 12/31/2015 80,000 70,000 60,000 50,000 As of 12/31/2015: Estimate: 41,201 (Peak: 63,485) Homeowner Applications: 34,779 Homeowners Assisted: 24,533 Homeowner Admission Rate: 71% 40,000 30,000 20,000 10,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 2011 State Estimated Program Participation Q4 Q1 Q2 Q3 Q4 2012 Q1 Q2 Q3 2013 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range, but excludes Ohio's estimate of the number of blighted properties to be eliminated. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and Ohio Homeowner Assistance LLC, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010, and Amendments to Agreement one through eleven as of 12/31/2015; Ohio Homeowner Assistance LLC, Quarterly Performance Reports Q4 2010 – Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. Q4 183 184 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.51 HHF OHIO ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 RESCUE PAYMENT ASSISTANCE PROGRAM (PAST-DUE PAYMENT)–SEPTEMBER 2010 MORTGAGE PAYMENT ASSISTANCE PROGRAM (UNEMPLOYMENT)–SEPTEMBER 2010 As of 12/31/2015: 30,000 Estimate: 21,000 (Peak: 21,000) Homeowner Applications: 27,624 25,000 Program Participation: 20,256 20,000 Homeowner Admission Rate: 73% As of 12/31/2015: Estimate: 15,500 (Peak: 31,900) Homeowner Applications: 18,461 Program Participation: 14,882 Homeowner Admission Rate: 81% 40,000 30,000 15,000 20,000 10,000 10,000 5,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 2011 Homeowner Applications 2015 6,000 As of 12/31/2015: Estimate: 1,150 (Peak: 2,350) Homeowner Application: 1,662 Program Participation: 1,210 Homeowner Admission Rate: 73% 3,000 2,500 1,500 2014 Program Participation LIEN ELIMINATION ASSISTANCE (MODIFICATION)– SEPTEMBER 2010 7,500 3,000 2013 Homeowner Applications MODIFICATION WITH CONTRIBUTION ASSISTANCE PROGRAM (MODIFICATION)–DECEMBER 2011 4,500 2012 State Estimated Program Participation Program Participation 2,000 As of 12/31/2015: Estimate: 1,300 (Peak: 6,400) Homeowner Applications: 2,465 Program Participation: 1,569 Homeowner Admission Rate: 64% 1,500 1,000 500 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 Program Participation Homeowner Applications TRANSITION ASSISTANCE PROGRAM (TRANSITION)–SEPTEMBER 2010 HOMEOWNERSHIP RETENTION ASSISTANCE (PAST-DUE PAYMENT)–DECEMBER 2012 6,000 4,000 5,000 As of 12/31/2015: Estimate: 63 (Peak: 4,900) Homeowner Applications: 157 Program Participation: 75 Homeowner Admission Rate: 48% 4,000 3,000 2,000 3,000 2,000 As of 12/31/2015: Estimate: 1,738 (Peak: 3,100) Homeowner Applications: 2,380 Program Participation: 1,929 Homeowner Admission Rate: 81% 1,000 1,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation Homeowner Applications 2013 2014 2015 Program Participation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation Homeowner Applications 2013 2014 2015 Program Participation QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 HHF OHIO ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 (CONTINUED) HOMEOWNER STABILIZATION ASSISTANCE PROGRAM (MODIFICATION)–MARCH 2013 NEIGHBORHOOD INITIATIVE PROGRAM (BLIGHT)– AUGUST 2013 6,000 1,000 750 5,000 As of 12/31/2015: Estimate: 450 (Peak: 900) Homeowner Applications: 626 Program Participation: 122 Homeowner Admission Rate: 19% 500 250 4,000 3,000 2,000 As of 12/31/2015: Blighted homes proposed to be demolished: 5,000 Actual blighted homes demolished: 1,588 1,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 Program Participation Homeowner Applications Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications SHORT REFINANCE PROGRAM (TRANSITION)– DECEMBER 2010 8,000 As of 12/31/2015: Estimate: 0 (Peak: 6,500) Homeowner Applications: 0 Program Participation: 0 Homeowner Admission Rate: 0% 6,000 4,000 Program Ended December 2012 2,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications Notes: Programs may have been started or ended at different times. Estimated includes highest estimate of a range, but excludes Ohio’s estimate of the number of blighted properties to be eliminated. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of reported Homeowner Applications. Sources: Treasury and Ohio Homeowner Assistance LLC, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010, and Amendments to Agreement one through eleven as of 12/31/2015; Ohio Homeowner Assistance LLC, Quarterly Performance Reports Q4 2010 - Q4 2015, no date. 185 186 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.52 Oregon’s HHF Programs OR HHF EXPENDITURES, BY PROGRAM CATEGORY Treasury obligated $220,042,786 in HHF funds to Oregon, however, on February 19, 2016, Treasury increased that amount by $36,425,456.235,lv As of September 30, 2014, HHF Oregon estimated that it would help as many as 15,280 homeowners with HHF, but had reduced that estimate by 1%, to 15,150, as of December 31, 2015. As of that date, HHF Oregon had helped 11,777 individual homeowners with its HHF programs, with the largest numbers in the unemployment and past due payment assistance programs.236 As of December 31, 2015, HHF Oregon had ended two programs for which the HFA had reported helping no homeowners: the Loan Modification Assistance Program (June 2013) and the Transition Assistance Program (December 2011). According to Treasury, HHF Oregon had previously stopped accepting new applications from homeowners after June 30, 2014, but, as of March 31, 2016, was again accepting applications for select programs.237 As of December 31, 2015, the state’s HFA had drawn down 100% of its HHF funds.238 As of December 31, 2015, the most recent data available, HHF Oregon had spent $199.1 million (90%) to help homeowners, $35.5 million (16%) on administrative expenses, and held $16.6 million (8%) as cash-on-hand.239 The unique structures of two of HHF Oregon’s programs, the Loan Refinance Assistance Program and the Rebuilding American Homeownership Assistance Pilot Project—under which Oregon extends new mortgage loans to homeowners, receives principal and interest payments while it holds the new loans and recovers principal when it sells the loans to third parties—allow the state to recycle large amounts back into HHF, which can then either be used to provide additional homeowner assistance or held as cash-on-hand. As of December 31, 2015, Oregon’s HFA reported having recovered $27.7 million in funds from homeowners who left the program before their HHF award was fully forgiven (lien release), including under those programs.240 Figures 4.53 and 4.54 show, in the aggregate and by program, respectively, the number of homeowners HHF Oregon estimated it would help with its HHF programs, the number of homeowners actually assisted and the homeowner admission rate, as of December 31, 2015. PROGRAM THROUGH DECEMBER 31, 2015 7% 23% 70% Past-Due Payment ($14,398,225) Unemployment ($139,595,724) Modification ($45,062,729) Source: Oregon Affordable Housing Assistance Corporation, Oregon Homeownership Stabilization Initiative, Reporting, Quarterly Performance Reports Q4 2015, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). lv n February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 O HHF states. On April 1, 2016, Treasury approved the following allocations of Oregon’s HHF funds: Mortgage Payment Assistance is increased by $18.8 million, and Loan Payment Assistance is increased by $10.6 million. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 4.53 HHF OREGON PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 12/31/2015 30,000 As of 12/31/2015: Estimate: 15,150 (Peak: 15,280) Homeowner Applications: 28,332 Homeowners Assisted: 11,777 Homeowner Admission Rate: 42% 25,000 20,000 15,000 10,000 5,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 2011 State Estimated Program Participation Q4 Q1 Q2 Q3 Q4 2012 Q1 Q2 Q3 2013 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and Oregon Affordable Housing Assistance Corporation, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 8/3/2010, and Amendments to Agreement one through sixteen, as of 12/31/2015; Oregon Affordable Housing Assistance Corporation, Quarterly Performance Reports Q2 2011 - Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. 187 188 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.54 HHF OREGON ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 MORTGAGE PAYMENT ASSISTANCE PROGRAM (UNEMPLOYMENT)–SEPTEMBER 2010 30,000 24,000 LOAN PRESERVATION ASSISTANCE PROGRAM (PAST-DUE PAYMENT)–SEPTEMBER 2010 As of 12/31/2015: Estimate: 11,000 (Peak: 11,000) Homeowner Applications: 26,499 Program Participation: 11,262 Homeowner Admission Rate: 42% 15,000 12,000 18,000 9,000 12,000 6,000 6,000 As of 12/31/2015: Estimate: 3,900 (Peak: 4,000) Homeowner Applications: 13,785 Program Participation: 4,341 Homeowner Admission Rate: 31% 3,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 Homeowner Applications 600 2012 2013 2014 2015 Program Participation Homeowner Applications LOAN REFINANCE ASSISTANCE PROGRAM (MODIFICATION)–MARCH 2011 800 2011 State Estimated Program Participation Program Participation REBUILDING AMERICAN HOMEOWNERSHIP ASSISTANCE PILOT PROJECT (MODIFICATION)– FEBRUARY 2013 As of 12/31/2015: Estimate: 200 (Peak: 330) Homeowner Applications: 795 Program Participation: 199 Homeowner Admission Rate: 25% 300 250 200 150 400 100 200 50 0 As of 12/31/2015: Estimate: 50 (Peak: 50) Homeowner Applications: 286 Program Participation: 73 Homeowner Admission Rate: 26% 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 Homeowner Applications 3,000 2,000 1,500 1,000 3,000 2014 2015 Program Participation 500 0 2,000 1,500 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2012 State Estimated Program Participation 2013 2014 As of 12/31/2015: Estimate: 0 (Peak: 2,515) Homeowner Applications: 0 Program Participation: 0 Homeowner Admission Rate: 0% 2,500 Program Ended June 2013 Homeowner Applications 2013 TRANSITION ASSISTANCE PROGRAM (TRANSITION)– SEPTEMBER 2010 As of 12/31/2015: Estimate: 0 (Peak: 2,600) Homeowner Applications: 0 Program Participation: 0 Homeowner Admission Rate: 0% 2,500 2011 2012 Homeowner Applications LOAN MODIFICATION ASSISTANCE PROGRAM (MODIFICATION)–SEPTEMBER 2010 2010 2011 State Estimated Program Participation Program Participation 2015 Program Participation 1,000 Program Ended December 2011 500 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications Notes: Programs may have been started or ended at different times. Estimated includes highest estimate of a range. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of reported Homeowner Applications. Sources: Treasury and Oregon Affordable Housing Assistance Corporation, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 8/3/2010, and Amendments to Agreement one through sixteen, as of 12/31/2015; Oregon Affordable Housing Assistance Corporation, Quarterly Performance Reports Q2 2011 - Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 Rhode Island’s HHF Program FIGURE 4.55 Treasury obligated $79,351,573 in HHF funds to Rhode Island, however, on February 19, 2016, Treasury increased that amount by $9,680,817.241,lvi At the end of 2010, HHF Rhode Island estimated that it would help as many as 13,125 homeowners with HHF, but had reduced that estimate by 74%, to 3,413, as of December 31, 2015. As of that date, HHF Rhode Island had helped 3,075 individual homeowners with its HHF programs, with the largest numbers in the unemployment and past due payment programs.242 According to Treasury, HHF Rhode Island stopped accepting new applications from struggling homeowners seeking help from HHF after January 31, 2013. However, in November 2015, Treasury approved HHF Rhode Island’s request to reallocate funds to a new homebuyer assistance program.243 As of December 31, 2015, the state’s HFA had drawn down 100% of its HHF funds.244 As of December 31, 2015, the most recent data available, HHF Rhode Island had spent $64.6 million (81% of its obligated funds) to help homeowners.245 The remaining $8.6 million (11%) was spent on administrative expenses, and $7.2 million (9%) was held as cash-on-hand.246 Figures 4.56 and 4.57 show, in the aggregate and by program, respectively, the number of homeowners HHF Rhode Island estimated it would help with its HHF programs, the number of homeowners actually assisted and the homeowner admission rate, as of December 31, 2015. RI HHF EXPENDITURES, BY PROGRAM CATEGORY lvi n February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF O states. PROGRAM THROUGH DECEMBER 31, 2015 20.4% 0.5% 18.3% 60.7% Modification ($13,205,782) Transition ($340,227) Past-Due Payment ($11,824,674) Unemployment ($39,242,056) Homebuyer Assistance ($0) Source: Rhode Island Housing and Mortgage Finance Corporation, Hardest Hit Fund – Rhode Island, About HHFRI, Reports, Quarterly Performance Report Q4 2015, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). 189 190 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.56 HHF RHODE ISLAND PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 12/31/2015 15,000 As of 12/31/2015: Estimate: 3,413 (Peak: 13,125) Homeowner Applications: 4,833 Homeowners Assisted: 3,075 Homeowner Admission Rate: 64% 12,000 9,000 6,000 3,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 2011 State Estimated Program Participation Q4 Q1 Q2 Q3 Q4 2012 Q1 Q2 Q3 2013 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range, but excludes the number of homebuyers the state estimates assisting. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and Rhode Island Housing and Mortgage Finance Corporation, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 8/3/2010, and Amendments to Agreement one through ten, as of 12/31/2015; Rhode Island Housing and Mortgage Finance Corporation, Quarterly Performance Reports Q4 2010 – Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. Q4 QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 4.57 HHF RHODE ISLAND ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 LOAN MODIFICATION ASSISTANCE PROGRAM (MODIFICATION)–SEPTEMBER 2010 3,500 TEMPORARY AND IMMEDIATE HOMEOWNER ASSISTANCE (PAST-DUE PAYMENT)– SEPTEMBER 2010 3,000 As of 12/31/2015: Estimate: 477 (Peak: 3,500) Homeowner Applications: 884 Program Participation: 497 Homeowner Admission Rate: 56% 3,000 2,500 2,000 1,500 As of 12/31/2015: Estimate: 681 (Peak: 2,750) Homeowner Applications: 1,170 Program Participation: 667 Homeowner Admission Rate: 57% 2,500 2,000 1,500 1,000 1,000 500 500 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 Program Participation Homeowner Applications MOVING FORWARD ASSISTANCE (TRANSITION)– SEPTEMBER 2010 MORTGAGE PAYMENT ASSISTANCE – UNEMPLOYMENT (UNEMPLOYMENT)– SEPTEMBER 2010 As of 12/31/2015: As of 12/31/2015: Estimate: 70 (Peak: 875) Homeowner Applications: 117 Program Participation: 65 Homeowner Admission Rate: 56% 1,000 750 Estimate: 2,153 (Peak: 6,000) Homeowner Applications: 3,143 Program Participation: 2,112 Homeowner Admission Rate: 67% 6,000 5,000 4,000 500 3,000 2,000 250 1,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 Homeowner Applications 25 2013 2014 2015 Program Participation DOWN PAYMENT ASSISTANCE (DPA) PROGRAM (HOMEBUYERS ASSISTANCE)–NOVEMBER 2015 150 100 50 2012 Homeowner Applications PRINCIPAL REDUCTION PROGRAM (MODIFICATION)– MAY 2011 75 2011 State Estimated Program Participation Program Participation 125 As of 12/31/2015: Estimate: 32 (Peak: 100) Homeowner Applications: 42 Program Participation: 28 Homeowner Admission Rate: 67% 100 75 50 As of 12/31/2015: Estimate: 135 (Peak: 100) Homebuyer Applications: 0 Homebuyers Assisted: 0 Homebuyer Admission Rate: 0% 25 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation Homeowner Applications 2013 2014 2015 Program Participation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homebuyer Applications Notes: Programs may have been started or ended at different times. Estimated includes highest estimate of a range. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of reported Homeowner Applications. Sources: Treasury and Rhode Island Housing and Mortgage Finance Corporation, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 8/3/2010, and Amendments to Agreement one through ten, as of 12/31/2015; Rhode Island Housing and Mortgage Finance Corporation, Quarterly Performance Reports Q4 2010 - Q4 2015, no date. 191 192 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.58 South Carolina’s HHF Programs SC HHF EXPENDITURES, BY PROGRAM CATEGORY Treasury obligated $295,431,547 in HHF funds to South Carolina, however, on February 19, 2016, Treasury increased that amount by $22,030,274.247,lvii At the end of 2010, HHF South Carolina estimated that it would help as many as 34,100 homeowners with HHF but had reduced that by 46%, to 18,350, as of December 31, 2015. As of that date, HHF South Carolina had helped 10,373 individual homeowners through its HHF programs, with the largest numbers in the past-due assistance and unemployment programs.248 HHF South Carolina ended its program to provide second-lien reduction assistance to homeowners in August 2011 and its HAMP modification assistance program in October 2013. Neither of those programs had assisted a single homeowner. HHF South Carolina’s remaining modification assistance program, approved in October 2013, had only 149 participants as of December 31, 2015. In addition to decreasing the number of homeowners it estimated helping, HHF South Carolina has shifted $35 million (12%) of its HHF funds away from existing HHF programs to blight elimination. This represents a shift from making payments directly to homeowners or their mortgage servicers to help keep homeowners in their homes. Treasury’s Blight Elimination Program allows for substantial payments of TARP funds to land banks, non-profits and other parties, including demolition contractors, in cash and mortgages that can be forgiven over time. For more information see the blight program update on pages 143-144 of this Quarterly Report. As of December 31, 2015, the state’s HFA had drawn down $200 million (68%) of its HHF funds, and had spent $159.9 million (54% of its obligated funds) to help homeowners; no HHF funds had been spent on blight elimination.249 The remaining $28.9 million (10%) was spent on administrative expenses, and $12.7 million (4%) was held as cash-on-hand.250 Figures 4.59 and 4.60 show, in the aggregate and by program, the number of homeowners HHF South Carolina estimated it would help with its HHF programs, the number of homeowners actually assisted and the homeowner admission rate, as of December 31, 2015. PROGRAM THROUGH DECEMBER 31, 2015 49% 48% 1% 2% Past-Due Payment ($78,793,083) Modification ($3,616,249) Transition ($1,440,504) Unemployment ($76,058,001) Blight Elimination ($0) Source: SC Housing Corp., SC HELP, Reports, Quarterly Performance Reports Q4 2015, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). lvii On February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF states. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 FIGURE 4.59 HHF SOUTH CAROLINA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 12/31/2015 35,000 As of 12/31/2015: Estimate: 18,350 (Peak: 34,100) Homeowner Applications: 24,443 Homeowners Assisted: 10,373 Homeowner Admission Rate: 42% 30,000 25,000 20,000 15,000 10,000 5,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 2011 State Estimated Program Participation Q4 Q1 Q2 Q3 Q4 2012 Q1 Q2 Q3 2013 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range, but excludes South Carolina's estimate of the number of blighted properties to be eliminated. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and SC Housing Corp., Commitment to Purchase Financial Instrument and HFA Participation Agreement, 8/3/2010, Amendments to Agreement one through nine, as of 12/31/2015; SC Housing Corp., Quarterly Performance Reports Q1 2011 - Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. Q4 193 194 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.60 HHF SOUTH CAROLINA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 MONTHLY PAYMENT ASSISTANCE PROGRAM (UNEMPLOYMENT)–SEPTEMBER 2010 18,000 15,000 12,000 9,000 DIRECT LOAN ASSISTANCE PROGRAM (PAST-DUE PAYMENT)–SEPTEMBER 2010 As of 12/31/2015: Estimate: 6,000 (Peak: 14,000) Homeowner Applications: 17,552 Program Participation: 5,741 Homeowner Admission Rate: 33% 25,000 15,000 10,000 6,000 5,000 3,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 2,000 6,000 4,000 3,000 2015 2,000 1,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 Program Participation Homeowner Applications SECOND MORTGAGE ASSISTANCE PROGRAM (SECOND-LIEN REDUCTION)–SEPTEMBER 2010 NEIGHBORHOOD INITIATIVE PROGRAM (BLIGHT)– JULY 2014 3,000 1,500 750 2014 Program Participation As of 12/31/2015: Estimate: 300 (Peak: 6,000) Homeowner Applications: 343 Program Participation: 289 Homeowner Admission Rate: 84% 5,000 1,000 1,000 2013 PROPERTY DISPOSITION ASSISTANCE PROGRAM (TRANSITION)–SEPTEMBER 2010 As of 12/31/2015: Estimate: 550 (Peak: 3,500) Homeowner Applications: 161 Program Participation: 149 Homeowner Admission Rate: 93% 3,000 2012 Homeowner Applications MODIFICATION ASSISTANCE PROGRAM (MODIFICATION)–OCTOBER 2013 4,000 2011 State Estimated Program Participation Program Participation Homeowner Applications 1,250 As of 12/31/2015: Estimate: 11,500 (Peak: 11,500) Homeowner Applications: 20,875 Program Participation: 9,877 Homeowner Admission Rate: 47% 20,000 2,500 As of 12/31/2015: Blighted homes proposed to be demolished: 1,300 Actual blighted homes demolished: 0 2,000 Program Ended August 2011 1,500 500 1,000 250 As of 12/31/2015: Estimate: 0 (Peak: 2,600) Homeowner Applications: 0 Program Participation: 0 Homeowner Admission Rate: 0% 500 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 Program Participation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications Homeowner Applications HAMP ASSISTANCE PROGRAM (MODIFICATION)– SEPTEMBER 2010 6,000 5,000 4,000 3,000 As of 12/31/2015: Estimate: 0 (Peak: 6,000) Homeowner Applications: 0 Program Participation: 0 Homeowner Admission Rate: 0% Program Ended October 2013 2,000 1,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications Notes: Programs may have been started or ended at different times. Estimated includes highest estimate of a range, but excludes South Carolina’s estimate of the number of blighted properties to be eliminated. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of reported Homeowner Applications. Sources: Treasury and SC Housing Corp., Commitment to Purchase Financial Instrument and HFA Participation Agreement, 8/3/2010, Amendments to Agreement one through nine, as of 12/31/2015; SC Housing Corp., Quarterly Performance Reports Q1 2011 – Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 Tennessee’s HHF Program FIGURE 4.61 Treasury obligated $217,315,593 in HHF funds to Tennessee, however, on February 19, 2016, Treasury increased that amount by $51,945,211.251,lviii At the end of 2011, HHF Tennessee estimated that it would provide HHF assistance to as many as 13,500 homeowners through its single HHF unemployment program but had reduced that by 46%, to 7,355, as of December 31, 2015. As of that date, HHF Tennessee had helped 7,355 individual homeowners.252 According to Treasury, as of September 30, 2014, HHF Tennessee stopped accepting new applications from struggling homeowners.253 In addition to decreasing the number of homeowners it estimated helping, HHF Tennessee shifted $5.5 million of its HHF funds away from existing HHF programs to blight elimination. This represents a shift from making payments directly to homeowners or their mortgage servicers to help keep homeowners in their homes. Treasury’s Blight Elimination Program allows for substantial payments of TARP funds to land banks, non-profits and other parties, including demolition contractors, in cash and mortgages that can be forgiven over time. For more information see the blight program update on page 146 of this Quarterly Report. As of December 31, 2015, the state’s HFA had drawn down $198.3 million (91%) of its HHF funds and spent $170 million (78%) to help homeowners.254 The remaining $19.3 million (9%) was spent on administrative expenses, and $10.5 million (5%) was held as cash-on-hand.255 Figures 4.62 and 4.63 show, in the aggregate and by program, respectively, the number of homeowners HHF Tennessee estimated it would help with its HHF programs, the number of homeowners actually assisted, and the homeowner admission rate, as of December 31, 2015. TN HHF EXPENDITURES, BY PROGRAM CATEGORY lviii n February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF O states. PROGRAM THROUGH DECEMBER 31, 2015 100% Unemployment ($169,983,367) Blight Elimination ($0) Source: Tennessee Housing Development Agency, Keep My Tennessee Home, Reports, Quarterly Performance Report Q4 2015, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). 195 196 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.62 HHF TENNESSEE PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 12/31/2015 15,000 12,000 9,000 As of 12/31/2015: Estimate: 7,355 (Peak: 13,500) Homeowner Applications: 9,352 Homeowners Assisted: 7,355 Homeowner Admission Rate: 79% 6,000 3,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 Q4 2011 Q1 Q2 Q3 Q4 2012 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 Q2 2013 Q3 Q4 Q1 2014 Q2 Q3 Q4 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and Tennessee Housing Development Agency, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010, and Amendments to Agreement one through ten, as of 12/31/2015; Tennessee Housing Development Agency, Quarterly Performance Reports Q1 2011 - Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. FIGURE 4.63 HHF TENNESSEE ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 12/31/2015 HARDEST HIT FUND PROGRAM (UNEMPLOYMENT)– SEPTMEBER 2010 As of 12/31/2015: Estimate: 7,355 (Peak: 13,500) Homeowner Applications: 9,352 Program Participation: 7,355 Homeowner Admission Rate: 79% 20,000 15,000 10,000 HHF BLIGHT ELIMINATION PROGRAM (BLIGHT)– SEPTEMBER 2015 500 400 300 As of 12/31/2015: Blighted homes proposed to be demolished: 220 Actual blighted homes demolished: 0 200 5,000 100 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation Homeowner Applications 2013 2014 2015 Program Participation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 State Estimated Program Participation 2013 2014 2015 Program Participation Homeowner Applications Notes: Programs may have been started or ended at different times. Estimated includes highest estimate of a range, but excludes Tennessee’s estimate of the number of blighted properties to be eliminated. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of reported Homeowner Applications. Sources: Treasury and Tennessee Housing Development Agency, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010, and Amendments to Agreement one through nine, as of 12/31/2015; Tennessee Housing Development Agency, Quarterly Performance Reports Q1 2011 - Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 Washington, DC’s HHF Program Treasury obligated $20,697,198 in HHF funds to Washington, DC, however, on February 19, 2016, Treasury increased that amount by $4,924,602.256,lix At the end of 2010, Washington, DC’s HFA estimated that it would provide HHF assistance to as many as 1,000 homeowners with its single HHF HomeSaver unemployment program but had increased that to 1,300 as of December 31, 2015. As of that date, HHF DC had helped 705 individual homeowners.257 According to Treasury, HHF DC had previously stopped accepting new homeowner applications after November 22, 2013, but, as of March 31, 2016, was again accepting applications for select programs.258 As of December 31, 2015, HHF DC had drawn down $18.2 million (88%) of its HHF funds and spent $13.7 million (66% of its obligated funds) to help individual homeowners.259 The remaining $3.5 million (17%) was spent on administrative expenses and $1.7 million (8%) was held as cash-on-hand.260 Figure 4.64 shows in the aggregate and by program, respectively, the number of homeowners HHF DC estimated it would help with its HHF program, the number of homeowners actually assisted and the homeowner admission rate, as of December 31, 2015. FIGURE 4.64 HHF WASHINGTON, DC PROGRAM PERFORMANCE, AS OF 12/31/2015 1,500 As of 12/31/2015: Estimate: 1,300 (Peak: 1,300) Homeowner Applications: 865 Homeowners Assisted: 705 Homeowner Admission Rate: 82% 1,200 900 600 300 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 2011 State Estimated Program Participation Q4 Q1 Q2 Q3 Q4 2012 Q1 Q2 Q3 2013 Q4 Q1 Q2 Q3 2014 Q4 Q1 Q2 Q3 Q4 2015 Homeowners Assisted Homeowner Applications Notes: Estimated includes highest estimate of a range. Applications are the total number of unique borrower applicants reported to Treasury, which Treasury began reporting as of Q3 2012. Homeowner Admission Rate is cumulative Homeowners Assisted as a percent of Homeowner Applications. Sources: Treasury and District of Columbia Housing Finance Agency, Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/23/2010, and Amendments to Agreement one through ten, as of 12/31/2015; District of Columbia’s Housing Finance Agency, Quarterly Performance Reports Q1 2011 - Q4 2015, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q4 2015, no date. lix n February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF O states. 197 198 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FINANCIAL INSTITUTION SUPPORT PROGRAMS Capital Purchase Program Treasury’s stated goal for CPP was to invest in “healthy, viable institutions” as a way to promote financial stability, maintain confidence in the financial system, and enable lenders to meet the nation’s credit needs.261 Treasury used $204.9 billion in TARP funds predominantly to purchase preferred equity interests in 707 financial institutions that paid dividends. For more information on dividend rate increases, including the date of rate increases, see Appendix E.1 of this Quarterly Report, which is available on SIGTARP’s website. As of March 31, 2016, 25 institutions remained in CPP, 15 with outstanding principal investments; in 10 of them, Treasury holds only warrants to purchase stock. See Table 4.18 for information on the remaining institutions. Taxpayers were still owed $5.3 billion, including $5.1 billion in write-offs expected or realized losses and $254.3 million in CPP investments outstanding.262 For a complete list of CPP institutions where Treasury has realized losses and write-offs, see Appendix E.4 of this Quarterly Report, which is available on SIGTARP’s website. As of March 31, 2016, 12 of the 15 banks with remaining principal investments had missed at least six dividends and interest payments, totaling $43 million, but Treasury has not exercised its right to appoint directors to their boards.263 SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 TABLE 4.18 REMAINING CPP BANKS (PRINCIPAL OR WARRANTS) Original Investment Outstanding Investment Warrants Remaining Missed Dividend Synovus Financial Corp. $967,870,000 $— 2,215,820 $— First Bancorp (PR) 400,000,000 124,966,504 389,484 — Wilmington Trust Corporation/M&T Bank Corporation 330,000,000 — 95,383 — Mid-Atlantic/Northeast Hampton Roads Bankshares, Inc. 80,347,000 — 757,633 4,017,350 Mid-Atlantic/Northeast Porter Bancorp, Inc. (PBI Louisville, KY 35,000,000 — 330,561 6,737,500 Royal Bancshares of Pennsylvania, Inc. 30,407,000 — 1,104,370 7,601,750 Mid-Atlantic/Northeast Severn Bancorp, Inc. 23,393,000 — 556,976 1,754,475 Mid-Atlantic/Northeast OneFinancial Corporation 17,300,000 17,300,000 — 7,404,139 ✓ Southwest Liberty Shares, Inc. 17,280,000 17,280,000 — 6,389,280 ✓ Southeast Village Bank and Trust Financial Corp. 14,738,000 — 31,189 2,026,475 ✓ Mid-Atlantic/Northeast Tidelands Bancshares, Inc. 14,448,000 14,448,000 571,821 5,129,040 ✓ Southeast HCSB Financial Corporation 12,895,000 12,895,000 91,714 4,287,588 ✓ Southeast One United Bank 12,063,000 12,063,000 — 5,187,090 ✓ Mid-Atlantic/Northeast Cecil Bancorp, Inc. 11,560,000 11,560,000 261,538 4,537,300 ✓ Mid-Atlantic/Northeast Broadway Financial Corporation 9,000,000 15,000,000 — — West Harbor Bankshares Corporation 6,800,000 6,800,000 — 2,363,000 Mid-Atlantic/Northeast Pacific International Bancorp/BBCN Bancorp, Inc. 6,500,000 — 19,276 — West Citizens Commerce Bancshares, Inc. 6,300,000 6,300,000 — 2,735,775 Pinnacle Bank Holding Company, Inc. 4,389,000 4,389,000 267,455 1,682,400 Allied First Bancorp, Inc. 3,652,000 3,652,000 — 1,201,223 Institution Observer Status Region Southeast ✓ ✓ Southeast Midwest Midwest Southeast Midwest Continued on next page 199 200 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM REMAINING CPP BANKS (PRINCIPAL OR WARRANTS) (CONTINUED) Original Investment Outstanding Investment Warrants Remaining Missed Dividend $3,500,000 $— 80,153 $481,250 Southeast Treaty Oak Bancorp, Inc. 3,268,000 — 3,098,341 133,553 Southwest/South Central Grand Mountain Bancshares, Inc. 3,076,000 3,076,000 — 1,309,745 St. Johns Bancshares, Inc. 3,000,000 3,000,000 — — Midwest Saigon National Bank 1,549,000 1,549,000 — 726,768 West $2,022,233,000 $254,278,504 9,780,000 $65,705,700 Institution AB&T Financial Corporation Total Notes: Numbers may not total due to rounding. Ten remaining banks with remaining warrants. ✓ Treasury has assigned an observer to the Board of Directors. Sources: Treasury, Transactions Report, 3/25/2016; Treasury, Dividends and Interest Report, 4/11/2016. Observer Status ✓ Region Mountain West SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 As of March 31, 2016, Treasury has recovered $197.4 billion of the CPP principal.264 However, only 262 banks, or 37%, fully repaid CPP principal.265 Four CPP banks merged with other CPP banks; Treasury sold its investments in 39 banks for less than par and sold at auction its investments in 190 banks (Treasury sold 167 of these at a loss); and 32 institutions or their subsidiary banks failed, with an expected total loss to TARP.266 Figure 4.65 shows the status of the 707 CPP recipients as of March 31, 2016. Treasury converted $363.3 million in preferred stock for 28 CPP bank investments into CDCI, which therefore is still an outstanding obligation to TARP. Additionally, $2.2 billion in CPP investments in 137 banks was refinanced in 2011 into SBLF, a non-TARP Treasury program.267 As of March 31, 2016, Treasury had received approximately $12.1 billion in interest and dividends from CPP recipients and $8.1 billion through the sale of CPP warrants.268 For a complete list of CPP share repurchases, see Appendix C: “Transaction Detail.” Dividends and Interest As of March 31, 2016, Treasury had received $12.1 billion in dividends on its CPP investments.269 However, as of that date, missed dividend and interest payments by 170 institutions, including banks that missed payments that are no longer in TARP, totaled approximately $524.3 million. Seven of the 707 banks that received CPP investments have never made a single dividend payment to Treasury. Two, Saigon National Bank and Grand Mountain Bankshares, have remaining CPP principal investments and three, Midwest Bank Holdings, Inc., One Georgia Bank, and Rising Sun Bancorp, have filed for bankruptcy. For institutions that miss five or more dividend (or interest) payments, Treasury has stated that it would seek consent from such institutions to send observers to the institutions’ board meetings, which it assigned to 13 current CPP recipients.270 Twelve banks have rejected Treasury’s requests to send an observer to the institutions’ board meetings.271 The banks had initial CPP investments of as much as $27 million, have missed as many as 29 quarterly dividend payments to Treasury, and have been overdue in dividend payments by as much as $4.1 million.272 Six of these banks have since been sold at a loss to Treasury at auction.273 Appendix E of this Quarterly Report, which is available on SIGTARP’s website, lists the banks that rejected Treasury observers. Appendix E of this Quarterly Report, which is available on SIGTARP’s website, lists CPP recipients that had unpaid dividend (or interest) payments as of March 31, 2016. CPP Recipients: Bankrupt or with Failed Subsidiary Banks As of March 31, 2016, 32 CPP participants had gone bankrupt or had a subsidiary bank fail, as indicated in Table 4.19.274 Treasury anticipates a total loss on its TARP investment in these institutions. FIGURE 4.65 STATUS OF CPP RECIPIENTS, AS OF 3/31/2016 3% 24% 37% 1% 5% 6% 4% 19% 2% Fully Repaid Principal (262) Remaining Principal Investment in CPP (15) Refinanced into SBLF (137) Refinanced into CDCI (28) Sold for less than par (39) Failed/subsidiary failed (32) Merged (4) Auction: Sold at loss (167) Auction: Sold at par or profit (23) Note: 10 banks repaid CPP principal but remain in TARP with Treasury holding only warrants. Source: Treasury, response to SIGTARP data call, 4/8/2016. For a complete list of CPP recipients and institutions making dividend or interest payments, see Appendix C: “Transaction Detail.” 201 202 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.19 CPP RECIPIENTS: BANKRUPT OR WITH FAILED SUBSIDIARY BANKS, AS OF 3/31/2016 Company Initial Invested Amount Investment Date Status ($ MILLIONS) Bankruptcy/ Failure Datea Subsidiary Bank $2,330.0 12/31/2008 Bankruptcy proceedings completed with no recovery of Treasury’s investment; subsidiary bank remains active UCBH Holdings Inc., San Francisco, CA 298.7 11/14/2008 In bankruptcy; subsidiary bank failed 11/6/2009 United Commercial Bank, San Francisco, CA Anchor BanCorp Wisconsin Inc. 110.0 1/30/2009 Filed for and exited bankruptcy protectionc 8/12/2013 N/A Midwest Banc Holdings, Inc., Melrose Park, IL 89.4b 12/5/2008 In bankruptcy; subsidiary bank failed 5/14/2010 Midwest Bank and Trust Company, Elmwood Park, IL Integra Bank Corporation, Evansville, IN 83.6 2/27/2009 Subsidiary bank failed 7/29/2011 Integra Bank, Evansville, IN First Place Financial Corporation 72.9 3/13/2009 In bankruptcy 10/29/2012 First Place Bank, Warren, OH Superior Bancorp, Inc., Birmingham, AL 69.0 12/5/2008 Subsidiary bank failed 4/15/2011 Superior Bank, Birmingham, AL Tennessee Commerce Bancorp, Inc., Franklin, TN 30.0 12/19/2008 Subsidiary bank failed 1/27/2012 Tennessee Commerce Bank, Franklin, TN Princeton National Bancorp 25.1 1/23/2009 Subsidiary bank failed 11/2/2012 Citizens First National Bank, Princeton, IL Rogers Bancshares, Inc. 25.0 1/30/2009 In bankruptcy 7/5/2013 N/A TCB Holding Company 11.7 1/16/2009 Subsidiary bank failed 12/13/2013 Texas Community Bank, The Woodlands, TX Citizens Bancorp, Nevada City, CA 10.4 12/23/2008 Subsidiary bank failed 9/23/2011 Citizens Bank of Northern California, Nevada City, CA Premier Bank Holding Company 9.5 3/20/2009 In bankruptcy 8/14/2012 N/A Sonoma Valley Bancorp, Sonoma, CA 8.7 2/20/2009 Subsidiary bank failed 8/20/2010 Sonoma Valley Bank, Sonoma, CA Syringa Bancorp 8.0 1/16/2009 Subsidiary bank failed 1/31/2014 Syringa Bank, Boise, ID GulfSouth Private Bank 7.5 9/25/2009 Failed 10/19/2012 N/A Western Community Bancshares, Inc. Palm Desert, CA 7.3 12/23/2008 Subsidiary bank failed 11/7/2014 Frontier Bank Palm Desert, CA Idaho Bancorp, Boise, ID 6.9 1/16/2009 In bankruptcy 4/24/2014 N/A Pierce County Bancorp, Tacoma, WA 6.8 1/23/2009 Subsidiary bank failed 11/5/2010 Pierce Commercial Bank, Tacoma, WA Rising Sun Bancorp, Rising Sun, MD 6.0 1/9/2009 Subsidiary bank failed 10/17/2014 NRBS Financial Rising Sun, MD FPB Bancorp, Port Saint Lucie, FL 5.8 12/5/2008 Subsidiary bank failed 7/15/2011 First Peoples Bank, Port Saint Lucie, FL CIT Group Inc., New York, NY 11/1/2009 CIT Bank, Salt Lake City, UT Continued on next page 203 SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 CPP RECIPIENTS: BANKRUPT OR WITH FAILED SUBSIDIARY BANKS, AS OF 3/31/2016 ($ MILLIONS) (CONTINUED) Initial Invested Amount Investment Date Status Bankruptcy/ Failure Datea $5.5 1/30/2009 Subsidiary bank failed 3/11/2011 Legacy Bank, Milwaukee, WI One Georgia Bank, Atlanta, GA 5.5 5/8/2009 Failed 7/15/2011 N/A Blue River Bancshares, Inc., Shelbyville, IN 5.0 3/6/2009 Subsidiary bank failed 2/10/2012 SCB Bank, Shelbyville, IN 11/13/2009 Pacific Coast National Bank, San Clemente, CA Company Legacy Bancorp, Inc., Milwaukee, WI Subsidiary Bank Pacific Coast National Bancorp, San Clemente, CA 4.1 1/16/2009 Bankruptcy proceedings completed with no recovery of Treasury’s investment; subsidiary bank failed CB Holding Corp., Aledo, IL 4.1 5/29/2009 Subsidiary bank failed 10/14/2011 Country Bank, Aledo, IL Investors Financial Corporation of Pettis County, Inc. 4.0 5/8/2009 Subsidiary bank failed 10/19/2012 Excel Bank, Sedalia, MO Tifton Banking Company, Tifton, GA 3.8 4/17/2009 Failed 11/12/2010 N/A Gold Canyon Bank 1.6 6/26/2009 Failed 4/5/2013 N/A Fort Lee Federal Savings Bank 1.3 5/22/2009 Failed 4/20/2012 N/A Indiana Bank Corp. 1.3 4/24/2009 In bankruptcy 4/9/2013 N/A 7/13/2012 Glasgow Savings Bank, Glasgow, MO Gregg Bancshares, Inc. Total 0.9 $3,259.4 2/13/2009 Subsidiary bank failed Notes: Numbers may not total due to rounding. a Date is the earlier of the bankruptcy filing by holding company or the failure of subsidiary bank. b T he amount of Treasury’s investment prior to bankruptcy was $89,874,000. On 3/8/2010, Treasury exchanged its $84,784,000 of preferred stock in Midwest Banc Holdings, Inc. (MBHI) for $89,388,000 of MCP, which is equivalent to the initial investment amount of $84,784,000, plus $4,604,000 of capitalized previously accrued and unpaid dividends. c Treasury recouped $6 million of its investment once the company’s plan of reorganization became effective. Sources: Treasury, Transactions Report, 3/25/2016. 204 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Realized Restructurings, Recapitalizations, Exchanges, and Sales of CPP Investments Certain CPP institutions may ask Treasury to restructure its investment, convert its CPP preferred shares into a more junior form of equity, accept a lower valuation, or sell its investment to a third party at a discount in order to facilitate that party’s acquisition of a troubled institution. Treasury may incur partial losses on its investment in the course of these transactions. For a list of all restructurings, recapitalizations, exchanges, and sales of CPP investments through March 31, 2016, see Appendix E of this Quarterly Report, which is available on SIGTARP’s website. For more information on Treasury’s auctions of CPP shares, see “The Legacy of TARP’s Bank Bailout Known as the Capital Purchase Program,” in SIGTARP’s January 2015 Quarterly Report, pages 83-102 and, SIGTARP recommendations regarding CPP preferred stock auctions, in SIGTARP’s October 2012 Quarterly Report, pages 180-183. CPP Preferred Stock Auctions Treasury auctioned its TARP investments in 190 CPP banks at a total loss of $1.1 billion ($813.5 million in principal and $253.5 million in missed dividends and interest).275 Treasury auctioned its TARP investment in 167 banks at a loss (in some, at a discount of up to 90%).276 Treasury forfeited the right to collect missed dividends and interest payments from 67 banks that had missed six or more dividends, and the right to appoint up to two directors to the bank’s board. Appendix E of this Quarterly Report, which is available on SIGTARP’s website, shows details for the auctions of preferred stock in CPP banks through March 31, 2016. Only two banks were successful in buying back all of the TARP shares at auction. Only 8% of total TARP shares were repurchased by 38 CPP banks. Only about half (53%) of those 38 banks were successful in repurchasing more than half of the outstanding TARP investment in their banks, which they did at discounts as large as 40%. Private fund investors, including hedge funds and private equity firms, have purchased 70% of Treasury’s total auctioned shares in 178 banks. These investors are mostly unknown to the banks and not from the banks’ communities. One capital management company was successful in its bids on 91 banks, and acquired 24% of all TARP shares in CPP community banks auctioned by Treasury. Another capital management company successfully bid on 109 banks, acquiring 13% of all TARP shares in CPP community banks auctioned by Treasury. An additional asset management company successfully acquired shares in 40 banks, or 9% of all TARP shares in CPP community banks auctioned by Treasury. Household-name brokers also purchased shares on behalf of other entities (12%) and 23 banks also purchased at auction. Figure 4.66 shows the percentage of Treasury’s TARP shares in CPP community banks purchased by each category of auction buyer. Other (16) non-TARP banks successfully bid on 33 banks (4%) of TARP. Two banks were each successful in their bids on shares of 12 banks, while the other banks mostly made bids on just one or two banks. Institutional investors successfully bid for 3% of all TARP shares auctioned by Treasury in 41 CPP community banks (mostly one large retirement fund). Institutional investment funds purchased TARP shares in six CPP community banks. SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 There were 72 senior executives, including presidents, CEOs, and members of the board of directors of CPP banks, who successfully bid to purchase 3% of total TARP shares in 20 CPP community banks. One senior executive of a CPP bank purchased the outstanding TARP shares at his bank. One bank holding company purchased 100% of TARP shares in two banks in its region, and two private fund investors purchased 100% of TARP shares in seven banks and another in one bank. Warrant Disposition Treasury received the right to purchase a certain number of shares of common stock at a predetermined price — warrants — to permit Treasury to benefit from a firm’s potential recovery.277 As of March 31, 2016, Treasury received $3.9 billion for warrants sold back to 188 CPP public institutions, $8.1 billion from the sale of CPP warrants. As of that same date, 306 privately held institutions, and the warrants of which had been immediately exercised, bought back the resulting additional preferred shares for a total of $195.6 million.278 Appendix E.7 of this Quarterly Report, which is available on SIGTARP’s website, lists all publicly traded institutions that repaid TARP and repurchased warrants and Appendix E.7 lists all privately held institutions that had done so as of March 31, 2016. Treasury also held 26 public auctions for warrants it received under CPP, TIP, and AGP, raising a total of approximately $5.4 billion, as shown in Appendix E.8 of this Quarterly Report, which is available on SIGTARP’s website. Treasury has conducted three private auctions to sell the warrants of 44 CPP institutions for $75.9 million, as listed in Appendix E.6 of this Quarterly Report, which is available on SIGTARP’s website. FIGURE 4.66 PERCENTAGES OF SHARES PURCHASED BY BUYER TYPE 4% 3% 3% 8% 12% 70% Private Funds Brokers CPP Banks Other Banks Institutional Investors Senior Executives and Board Members of CPP Banks Note: Numbers may not total due to rounding. Source: Treasury, response to SIGTARP data call, 4/8/2016. For more information on warrant disposition, see SIGTARP’s audit report of May 10, 2010, “Assessing Treasury’s Process to Sell Warrants Received from TARP Recipients.” 205 206 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM For more information on CDCI institutions that remain in TARP and their use of TARP funds, see the report in SIGTARP’s April 2014 Quarterly Report: “Banks and Credit Unions in TARP’s CDCI Program Face Challenges.” Community Development Financial Institutions (“CDFIs”): Financial institutions eligible for Treasury funding to serve urban and rural low-income communities through the CDFI Fund. CDFIs were created in 1994 by the Riegle Community Development and Regulatory Improvement Act. Community Development Capital Initiative The Administration announced the Community Development Capital Initiative (“CDCI”) on October 21, 2009. According to Treasury, the program was intended to help small businesses obtain credit.279 Under CDCI, TARP made $570.1 million in investments in the preferred stock or subordinated debt of 84 eligible banks, bank holding companies, thrifts, and credit unions certified as Community Development Financial Institutions (“CDFIs”) by Treasury. According to Treasury, these lower-cost capital investments were intended to strengthen the capital base of CDFIs and enable them to make more loans in low and moderate-income communities.280 CDCI was open to certified, qualifying CDFIs or financial institutions that applied for CDFI status by April 30, 2010.281 According to Treasury, CPP-participating CDFIs that were in good standing could exchange their CPP investments for CDCI investments.282 CDCI closed to new investments on September 30, 2010.283 Treasury invested $570.1 million in 84 institutions under the program — 36 banks or bank holding companies and 48 credit unions.284 Of the 36 investments in banks and bank holding companies, 28 were conversions from CPP (representing $363.3 million of the total $570.1 million); the remaining eight were not CPP participants. Treasury provided an additional $100.7 million in CDCI funds to 10 of the banks converting CPP investments. Only $106 million of the total CDCI funds went to institutions that were not in CPP. Status of Funds As of March 31, 2016, 57 institutions remained in CDCI. Twenty-five institutions have fully repaid Treasury and have exited CDCI. Five institutions have partially repaid and remain in the program. One CDCI credit union merged with another CDCI credit union, leaving only one of the credit unions remaining in the program. Premier Bancorp, Inc., Wilmette, Illinois, previously had its subsidiary bank fail and almost all of Treasury’s $6.8 million investment was lost.285 As of March 31, 2016, taxpayers were still owed $434.1 million related to CDCI.286 According to Treasury, it had realized losses of $6.7 million in the program that will never be recovered, leaving $427.4 million outstanding.287 According to Treasury, $135.9 million of the CDCI principal (or 24%) had been repaid as of March 31, 2016.288 As of March 31, 2016, Treasury had received approximately $56.8 million in dividends and interest from CDCI recipients.289 Tables 4.21 through 4.26 show banks and credit unions remaining in CDCI by region and state as of March 31, 2016. Table 4.20 lists the current status of all CDCI investments as of March 31, 2016. SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 TABLE 4.20 BANKS AND CREDIT UNIONS WITH CDCI PRINCIPAL REMAINING, BY REGION, AS OF 3/31/2016 Original Number of Participants Remaining Number of Participants Remaining Investment Remaining Number of Banks Remaining Number of Credit Unions Mid-Atlantic/Northeast 24 18 $66,635,000 5 13 Southeast 22 16 265,012,000 14 2 West 14 9 24,798,000 2 7 Southwest/South Central 11 7 53,178,000 2 5 Midwest 11 7 17,819,600 3 4 Mountain West/Plains 2 0 0 0 0 84 Total 57 $427,442,600 26 31 Source: Treasury, Transactions Report, 3/25/2016. FIGURE 4.67 AMOUNT OF CDCI PRINCIPAL INVESTMENT REMAINING, BY REGION, AS OF 3/31/2016 AK MOUNTAIN WEST/ PLAINS $0 WA MT OR ID WEST $25 MILLION GU HI CA NV ND WY MN AZ WI SD CO IL KS OK NM MO AR NY OH IN PA WV VA KY ME MID-ATLANTIC/ NORTHEAST $67 MILLION NH MA CT RI NJ DE MD NC TN MS AL TX VT MI IA NE UT MIDWEST $18 MILLION SC GA SOUTHEAST $265 MILLION LA FL SOUTHWEST/ SOUTH CENTRAL $53 MILLION WEST MOUNTAIN WEST/PLAINS MIDWEST MID-ATLANTIC/NORTHEAST SOUTHWEST/SOUTH CENTRAL SOUTHEAST PR 207 208 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Mid-Atlantic/Northeast TABLE 4.21 BANKS AND CREDIT UNIONS WITH CDCI PRINCIPAL REMAINING, BY STATE, AS OF 3/31/2016 Original Number of Participants NY WV WV VA 1 1 $7,000 0 1 3 3 13,303,000 2 1 NJ 2 1 31,000 0 1 13 9 42,144,000 2 7 PA 1 1 100,000 0 1 VA CT NJ DE MD DC PA Remaining Number of Credit Unions DC RI Remaining Number of Banks NY NH MA Remaining Investment CT ME VT Remaining Number of Participants 3 2 9,959,000 1 1 VT MID-ATLANTIC/ NORTHEAST >$10 million $1 million-$10 million $1-$1 million $0 Principal investment remaining in CDCI banks Total 1 1 1,091,000 0 1 24 18 $66,635,000 5 13 Source: Treasury, Transactions Report, 3/25/2016. Southeast TABLE 4.22 BANKS AND CREDIT UNIONS WITH CDCI PRINCIPAL REMAINING, BY STATE, AS OF 3/31/2016 FL SOUTHEAST Principal investment remaining in CDCI banks >$10 million $1 million-$10 million $1-1 million $0 Remaining Number of Credit Unions 3 3 $16,698,000 2 1 2 1 11,841,000 1 0 MS 12 9 199,943,000 8 1 3 1 11,735,000 1 0 SC 1 1 22,000,000 1 0 TN PR Remaining Number of Banks GA GA Remaining Investment NC AL SC Remaining Number of Participants AL NC TN MS Original Number of Participants 1 1 2,795,000 1 0 22 16 $265,012,000 14 2 Total Source: Treasury, Transactions Report, 3/25/2016. 209 SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 West TABLE 4.23 BANKS AND CREDIT UNIONS WITH CDCI PRINCIPAL REMAINING, BY STATE, AS OF 3/31/2016 Original Number of Participants Remaining Number of Credit Unions 1 1 $1,600,000 0 1 CA 9 6 20,473,000 2 4 GU OR Remaining Number of Banks 1 1 2,650,000 0 1 HI AK Remaining Investment AK WA Remaining Number of Participants 2 0 0 0 0 WA GU Total CA 1 1 75,000 0 1 14 9 $24,798,000 2 7 Source: Treasury, Transactions Report, 3/25/2016. HI WEST Principal investment remaining in CDCI banks >$10 million $1 million-$10 million $1-$1 million $0 Southwest/South Central TABLE 4.24 BANKS AND CREDIT UNIONS WITH CDCI PRINCIPAL REMAINING, BY STATE, AS OF 3/31/2016 OK NM TX AR LA Remaining Number of Participants Remaining Investment Remaining Number of Banks Remaining Number of Credit Unions AR 1 1 $33,800,000 1 0 AZ 1 1 1,000,000 0 1 LA 6 4 18,204,000 1 3 TX AZ Original Number of Participants 3 1 174,000 0 1 11 7 $53,178,000 2 5 Total SOUTHWEST/ SOUTH CENTRAL Principal investment remaining in CDCI banks >$10 million $1 million-$10 million $1-$1 million $0 Source: Treasury, Transactions Report, 3/25/2016. 210 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Midwest TABLE 4.25 BANKS AND CREDIT UNIONS WITH CDCI PRINCIPAL REMAINING, BY STATE, AS OF 3/31/2016 Original Number of Participants WI IA IN IL MO 7 5 $17,318,000 3 2 2 2 501,600 0 2 1 0 0 0 0 WI 1 0 0 0 0 11 7 $17,819,600 3 4 Total KY MIDWEST Remaining Number of Credit Unions MN OH Remaining Number of Banks IN MI Remaining Investment IL MN Remaining Number of Participants Source: Treasury, Transactions Report, 3/25/2016. >$10 million $1 million -$10 million $1-$1 million $0 Principal investment remaining in CDCI banks Mountain West/Plains TABLE 4.26 BANKS AND CREDIT UNIONS WITH CDCI PRINCIPAL REMAINING, BY STATE, AS OF 3/31/2016 Original Number of Participants MT ID NV ND WY MT CO MOUNTAIN WEST/ PLAINS Principal investment remaining in CDCI banks Remaining Investment Remaining Number of Banks Remaining Number of Credit Unions 1 0 $0 0 0 WY 1 0 0 0 0 Total SD NE UT Remaining Number of Participants 2 0 $0 0 0 Source: Treasury, Transactions Report, 3/25/2016. KS >$10 million $1 million-$10 million $1-$1 million $0 SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 TABLE 4.27 CDCI INVESTMENT SUMMARY, AS OF 3/31/2016 Institution Amount from CPP Additional Investment Total CDCI Investment $50,400,000 $30,514,000 $80,914,000 Institutions Remaining in CDCI BancPlus Corporation Community Bancshares of Mississippi, Inc. 54,600,000 Southern Bancorp, Inc. 11,000,000 22,800,000 33,800,000 Security Federal Corporation 18,000,000 4,000,000 22,000,000 Carver Bancorp, Inc 18,980,000 Security Capital Corporation 17,910,000 The First Bancshares, Inc. 5,000,000 54,600,000 18,980,000 17,910,000 12,123,000 17,123,000 First American International Corp. 17,000,000 17,000,000 State Capital Corporation 15,750,000 15,750,000 Guaranty Capital Corporation 14,000,000 14,000,000 Citizens Bancshares Corporation M&F Bancorp, Inc. 7,462,000 4,379,000 11,735,000 11,841,000 11,735,000 Liberty Financial Services, Inc. 5,645,000 5,689,000 11,334,000 Mission Valley Bancorp 5,500,000 4,836,000 10,336,000 United Bancorporation of Alabama, Inc. IBC Bancorp, Inc. 10,300,000 4,205,000 10,300,000 3,881,000 8,086,000 Fairfax County Federal Credit Union 8,044,000 The Magnolia State Corporation 7,922,000 Carter Federal Credit Union* 6,300,000 First Vernon Bancshares, Inc. 6,245,000 6,245,000 IBW Financial Corporation 6,000,000 6,000,000 CFBanc Corporation 5,781,000 American Bancorp of Illinois, Inc. 5,457,000 Hope Federal Credit Union Community Bank of the Bay 4,520,000 1,747,000 Kilmichael Bancorp, Inc. PGB Holdings, Inc. 2,313,000 4,060,000 3,154,000 3,000,000 3,000,000 Santa Cruz Community Credit Union 2,828,000 Cooperative Center Federal Credit Union 2,799,000 Santa Cruz Community Credit Union 2,828,000 Cooperative Center Federal Credit Union 2,799,000 Continued on next page 211 212 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM CDCI INVESTMENT SUMMARY, AS OF 3/31/2016 Amount from CPP Institution (CONTINUED) Additional Investment Total CDCI Investment Institutions Remaining in CDCI Tri-State Bank of Memphis $2,795,000 $2,795,000 Community First Guam Federal Credit Union 2,650,000 Shreveport Federal Credit Union 2,646,000 Pyramid Federal Credit Union 2,500,000 Alternatives Federal Credit Union 2,234,000 Virginia Community Capital, Inc. 1,915,000 Southern Chautauqua Federal Credit Union 1,709,000 Tongass Federal Credit Union 1,600,000 D.C. Federal Credit Union 1,522,000 Vigo County Federal Credit Union 1,229,000 Lower East Side People’s Federal Credit Union 1,193,000 Opportunities Credit Union 1,091,000 1 Community Plus Federal Credit Union 450,000 Liberty County Teachers Federal Credit Union* 435,000 Tulane-Loyola Federal Credit Union 424,000 Northeast Community Federal Credit Union 350,000 North Side Community Federal Credit Union 325,000 Genesee Co-op Federal Credit Union 300,000 Brooklyn Cooperative Federal Credit Union 300,000 Neighborhood Trust Federal Credit Union 283,000 Phenix Pride Federal Credit Union 153,000 Buffalo Cooperative Federal Credit Union 145,000 Hill District Federal Credit Union 100,000 Episcopal Community Federal Credit Union 100,000 Thurston Union of Low-Income People (TULIP) Cooperative Credit Union 75,000 Renaissance Community Development Credit Union 31,000 Union Baptist Church Federal Credit Union 10,000 East End Baptist Tabernacle Federal Credit Union Total 7,000 $287,274,000 $90,535,000 $448,391,000 Continued on next page SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 CDCI INVESTMENT SUMMARY, AS OF 3/31/2016 (CONTINUED) Amount from CPP Additional Investment Total CDCI Investment Institution Institutions Fully Repaid First M&F Corporation $30,000,000 University Financial Corp, Inc. 11,926,000 PSB Financial Corporation $30,000,000 $10,189,000 9,734,000 22,115,000 9,734,000 Freedom First Federal Credit Union 9,278,000 First Eagle Bancshares, Inc. 7,875,000 7,875,000 BankAsiana 5,250,000 First Choice Bank 5,146,000 5,146,000 Lafayette Bancorp, Inc. 4,551,000 4,551,000 Bainbridge Bancshares, Inc. 3,372,000 Bancorp of Okolona, Inc. 3,297,000 Border Federal Credit Union 3,260,000 Atlantic City Federal Credit Union 2,500,000 Gateway Community Federal Credit Union 1,657,000 Southside Credit Union 1,100,000 Brewery Credit Union 1,096,000 Butte Federal Credit Union 1,000,000 First Legacy Community Credit Union 1,000,000 UNO Federal Credit Union 743,000 Independent Employers Group Federal Credit Union 698,000 Bethex Federal Credit Union 502,000 Greater Kinston Credit Union 350,000 Prince Kuhio Federal Credit Union 273,000 UNITEHERE Federal Credit Union (Workers United Federal Credit Union) 57,000 Faith Based Federal Credit Union 30,000 Fidelis Federal Credit Union Total 14,000 $69,232,000 $10,189,000 $114,898,000 Bankrupt or with Failed Subsidiary Banks Premier Bancorp, Inc. Total Overall Total $6,784,000 $6,784,000 $6,784,000 $6,784,000 $363,290,000 $100,724,000 $570,073,000 Notes: Numbers may not total due to rounding. * Institution has made a partial payment on Treasury’s investment. 1 L ower East Side People’s Federal Credit Union merged with another CDCI credit union, Union Settlement Federal Credit Union. On October 31, 2014, Treasury exchanged $295,000 of Union Settlement Federal Credit Union investment for a similar investment in Lower East Side People’s Federal Credit Union. Source: Treasury, Transactions Report, 3/25/2016. 213 214 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Missed Dividends As of March 31, 2016, three institutions still in CDCI had unpaid dividend or interest payments to Treasury totaling $243,025.290 As a result of a bankrupt institution that exited CDCI without remitting its interest payments, the total value of all missed payments equals $559,649. Treasury has the right to appoint two directors to the board of directors of institutions that have missed eight dividends and interest payments, whether consecutive or nonconsecutive.291 As of March 31, 2016, Treasury had not appointed directors to the board of any CDCI institution.292 Treasury has sent an observer to the board meetings of one institution, First Vernon Bancshares, Inc., Vernon, Alabama, however no observer is currently attending board meetings of this institution.293 Treasury made a request to send an observer to the board meetings of First American International Corp., Brooklyn, New York, in February 2013, but the institution, which remains in TARP as of March 31, 2016, rejected Treasury’s request.294 Table 4.28 lists CDCI institutions that are not current on dividend or interest payments. TABLE 4.28 CDCI-RELATED MISSED DIVIDEND AND INTEREST PAYMENTS, AS OF 3/31/2016 Institution Dividend or Payment Type Number of Missed Payments Value of Missed Payments Premier Bancorp, Inc.* Tri-State Bank of Memphis Interest 6 $316,624 Non-Cumulative 7 97,285 First Vernon Bancshares, Inc. Cumulative 4 124,900 Community Bank of the Bay Non-Cumulative 1 Total Notes: Numbers may not total due to rounding. * On 3/23/2012, the subsidiary bank of Premier Bancorp, Inc. failed. Source: Treasury, Dividends and Interest Report, 4/11/2016. 20,300 $559,649 SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 Institutions with Enforcement Actions Banks and credit unions participating in CDCI continue to be subject to oversight by Federal regulators. In January 2015, a bank and a credit union that participate in CDCI were each the subject of enforcement actions by their respective Federal regulators. On January 13, 2015, the National Credit Union Administration (“NCUA”) issued an order of assessment of civil money penalty to Santa Cruz Community Credit Union, Santa Cruz, California.295 On January 29, 2015, the Federal Deposit Insurance Corporation (“FDIC”) issued a consent order to TriState Bank of Memphis, Memphis, Tennessee.296 Terms for Senior Securities and Dividends An eligible bank, bank holding company, or thrift could apply to receive capital in an amount up to 5% of its risk-weighted assets. A credit union (which is a memberowned, nonprofit financial institution with a capital and governance structure different from that of for-profit banks) could apply for Government funding of up to 3.5% of its total assets — roughly equivalent to the 5% of risk-weighted assets for banks.297 Participating credit unions and S corporations issued subordinated debt to Treasury in lieu of the preferred stock issued by other CDFI participants.298 Many CDFI investments have an initial dividend rate of 2%, which increases to 9% after eight years. Participating S corporations pay an initial rate of 3.1%, which increases to 13.8% after eight years.299 A CDFI participating in CPP had the opportunity to request to convert those shares into CDCI shares, thereby reducing the annual dividend rate it pays the Government from 5% to as low as 2%.300 According to Treasury, CDFIs were not required to issue warrants because of the de minimis exception in EESA, which grants Treasury the authority to waive the warrant requirement for qualifying institutions in which Treasury invested $100 million or less. If during the application process a CDFI’s primary regulator deemed it to be undercapitalized or to have “quality of capital issues,” the CDFI had the opportunity to raise private capital to achieve adequate capital levels. Treasury would match the private capital raised on a dollar-for-dollar basis, up to a total of 5% of the financial institution’s risk-weighted assets. In such cases, private investors had to agree to assume any losses before Treasury.301 Risk-Weighted Assets: Risk-based measure of total assets held by a financial institution. Assets are assigned broad risk categories. The amount in each risk category is then multiplied by a risk factor associated with that category. The sum of the resulting weighted values from each of the risk categories is the bank’s total risk-weighted assets. 215 216 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM For more on SIGTARP’s September 2012 recommendation to Treasury and the Federal Reserve regarding AIG’s designation as a systemically important financial institution, see SIGTARP’s July 2013 Quarterly Report, pages 201-203. For more information on AIG and how the company changed while under TARP, see SIGTARP’s July 2012 Quarterly Report, pages 151-167. For a more detailed description of the AIG Recapitalization Plan, see SIGTARP’s January 2014 Quarterly Report, pages 219-220. For more information on Treasury’s sales of AIG common shares and AIG’s buybacks of shares, see SIGTARP’s July 2013 Quarterly Report, page 131. For more information on Treasury’s Equity Ownership Interest in AIG, see SIGTARP’s January 2014 Quarterly Report, page 220. Systemically Significant Institutions (“SSFI”): Term referring to any financial institution whose failure would impose significant losses on creditors and counterparties, call into question the financial strength of similar institutions, disrupt financial markets, raise borrowing costs for households and businesses, and reduce household wealth. Systemically Significant Failing Institutions Program According to Treasury, the Systemically Significant Failing Institutions (“SSFI”) program was established to “provide stability and prevent disruptions to financial markets from the failure of a systemically significant institution.”302 Through SSFI, between November 2008 and April 2009, Treasury invested $67.8 billion in TARP funds in American International Group, Inc. (“AIG”), the program’s sole participant.303 AIG also received bailout funding from the Federal Reserve Bank of New York (“FRBNY”). In January 2011, FRBNY and Treasury restructured their agreements with AIG to use additional TARP funds and AIG funds to pay off amounts owed to FRBNY and transfer FRBNY’s common stock and its interests to Treasury.304 AIG has repaid the amounts owed to both Treasury and FRBNY. Treasury’s investment in AIG ended on March 1, 2013.305 According to Treasury, taxpayers have received full payment on FRBNY’s loans, plus interest and fees of $6.8 billion; full repayment of the loans to two special purpose vehicles (“SPVs”), called Maiden Lane II and Maiden Lane III, plus $8.2 billion in gains from securities cash flows and sales and $1.3 billion in interest; and full payment of the insurance-business SPVs, plus interest and fees of $1.4 billion.306 Treasury’s books and records reflect only the shares of AIG that Treasury received in TARP, reflecting that taxpayers have recouped $54.4 billion of the $67.8 billion in TARP funds spent and realized losses on the sale of TARP shares from an accounting standpoint of $13.5 billion.307 However, because TARP funds paid off amounts owed to FRBNY in return for stock, Treasury’s position is that the Government has made $4.1 billion selling AIG common shares and $959 million in dividends, interest, and other income.308 Special Purpose Vehicle (“SPV”): A legal entity, often off-balance-sheet, that holds transferred assets presumptively beyond the reach of the entities providing the assets, and that is legally isolated from its sponsor or parent company. SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 Targeted Investment Program Treasury invested $20 billion in Citigroup Inc. (“Citigroup”) and $20 billion in Bank of America Corp. (“Bank of America”), through the Targeted Investment Program (“TIP”) to “strengthen the economy and protect American jobs, savings, and retirement security [where] the loss of confidence in a financial institution could result in significant market disruptions that threaten the financial strength of similarly situated financial institutions.”309 Both banks repaid TIP in December 2009.310 On March 3, 2010, Treasury auctioned the Bank of America warrants it received under TIP for $1.24 billion.311 On January 25, 2011, Treasury auctioned the Citigroup warrants it had received under TIP for $190.4 million.312 Asset Guarantee Program Under the Asset Guarantee Program (“AGP”), Treasury, the Federal Deposit Insurance Corporation (“FDIC”), the Federal Reserve, and Citigroup agreed to provide loss protection on a $301 billion pool of Citigroup assets in exchange for warrants and $7 billion in preferred stock, later exchanged for $4 billion in trust preferred securities (“TRUPS”) to Treasury and $3 billion to the FDIC.313 On December 23, 2009, Citigroup and Treasury terminated the AGP agreement. The Government suffered no loss.314 At that time, Treasury agreed to cancel $1.8 billion of the TRUPS issued by Citigroup, reducing the premium it received from $4 billion to $2.2 billion, in exchange for the early termination of the loss protection. FDIC retained all of its $3 billion in securities, $800 million of which it transferred to Treasury.315 Treasury exchanged those transferred securities into Citigroup subordinated notes, which it then sold for $894 million.316 Treasury received an additional $12 million in proceeds from the $2.2 billion sale of the remaining Citigroup TRUPS.317 Treasury auctioned the Citigroup warrants for $67.2 million.318 Bank of America announced a similar asset guarantee agreement, but the final agreement was never executed. Bank of America paid $425 million to the Government as a termination fee ($276 million to Treasury, $92 million to FDIC, and $57 million to the Federal Reserve).319 Trust Preferred Securities (“TRUPS”): Securities that have both equity and debt characteristics created by establishing a trust and issuing debt to it. For a discussion of the basis of the decision to provide Federal assistance to Citigroup, see SIGTARP’s audit report, “Extraordinary Financial Assistance Provided to Citigroup, Inc.,” dated January 13, 2011. 217 218 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM AUTOMOTIVE INDUSTRY SUPPORT PROGRAMS During the financial crisis, Treasury, through TARP, launched three automotive industry support programs for General Motors (“GM”), Ally Financial (formerly GMAC), Chrysler LLC (“Chrysler”), and Chrysler Financial Services Americas LLC (“Chrysler Financial”): the Automotive Industry Financing Program (“AIFP”), the Auto Supplier Support Program (“ASSP”), and the Auto Warranty Commitment Program (“AWCP”). According to Treasury, these programs were established “to prevent the collapse of the U.S. auto industry, which would have posed a significant risk to financial market stability, threatened the overall economy, and resulted in the loss of one million U.S. jobs.”320 Treasury spent $79.7 billion in TARP funds on the auto bailout, which resulted in a $16.6 billion loss to taxpayers.321 TABLE 4.29 TARP AUTOMOTIVE PROGRAM INVESTMENTS AND PRINCIPAL REPAYMENTS AND RECOVERIES, AS OF 3/31/2016 ($ BILLIONS) General Motorsa Ally Financialb Chryslerc Chrysler Financial Total Automotive Industry Financing Program Treasury Investment Principal Repaid/ Recovered $49.5 $17.2 $10.5 $1.5 $78.6 38.3 14.7 7.6 1.5 62.1 Auto Supplier Support Program Treasury Investment 0.3 0.1 0.4 Principal Repaid/ Recovered 0.3 0.1 0.4 Treasury Investment 0.4 0.3 0.6 Principal Repaid/ Recovered 0.4 0.3 0.6 Auto Warranty Commitment Program Total Treasury Investment $50.2 $17.2 $10.9 $1.5 $79.7 Total Principal Repaid/ Recovered $38.9 $14.7 $8.0 $1.5 $63.1 Still Owed to Taxpayers $11.2d $2.5 $2.9 $0.0 $16.6 ($11.2d) ($2.5) ($2.9) Realized Loss on Investment ($16.6) Notes: Numbers may not total due to rounding. a P rincipal repaid includes a series of debt payments totaling $160 million recovered from GM bankruptcy. b I nvestment includes an $884 million Treasury loan to GM, which GM invested in GMAC in January 2009. c P rincipal repaid includes $560 million Fiat paid in July 2011 for Treasury’s remaining equity stake in Chrysler and for Treasury’s rights under an agreement with the UAW retirement trust related to Chrysler shares. d R ealized loss on investment and amount still owed to taxpayers include the $826 million claim in GM’s bankruptcy, which Treasury wrote off in the first quarter of 2014. Sources: Treasury, Transactions Report, 3/25/2016; Treasury, response to SIGTARP data call, 4/4/2016; Treasury, Monthly TARP Update, 4/1/2016. SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 Automotive Industry Financing Program Of the $78.6 billion in TARP funding for AIFP, Treasury recovered only approximately $38.3 billion related to its GM investment, $14.7 billion related to its Ally Financial/GMAC investment, $7.6 billion related to its Chrysler investment, and $1.5 billion related to its Chrysler Financial investment, as well as $5.6 billion in dividends and interest, resulting in losses of $16.6 billion as of March 31, 2016.322 GM Taxpayers lost $11.2 billion on the $49.5 billion TARP AIFP investment in GM.323 Ally Financial, formerly known as GMAC Of the $17.2 billion TARP investment in Ally Financial, taxpayers lost $2.5 billion.324 Chrysler Of the $12 billion TARP AIFP investment in Chrysler (including Chrysler Financial), taxpayers suffered a $2.9 billion loss.325 Auto Supplier Support Program (“ASSP”) and Auto Warranty Commitment Program (“AWCP”) On March 19, 2009, Treasury committed $5 billion to ASSP to “help stabilize the automotive supply base and restore credit flows,” with loans to GM ($290 million) and Chrysler ($123.1 million). The loans were fully repaid in April 2010.326 AWCP guaranteed Chrysler and GM vehicle warranties during the companies’ bankruptcy, with Treasury obligating $640.8 million — $360.6 million for GM and $280.1 million for Chrysler. Both loans were fully repaid to Treasury.327 Treasury invested a total of $650.6 million in GM and $403.2 million in Chrysler through ASSP and AWCP, which was recovered without loss. For more information on Auto Industry Support Programs, see SIGTARP’s July 29, 2015 Quarterly Report, pages 330-336. For details on Treasury’s actions and transactions to liquidate its investment in GM, see SIGTARP’s July 2015 Quarterly Report, pages 332-333. For more details on Treasury’s investments in Ally Financial while in TARP, see SIGTARP’s January 28, 2015 Quarterly Report, pages 289292. 219 220 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Asset-Backed Securities (“ABS”): Bonds backed by a portfolio of consumer or corporate loans (e.g., credit card, auto, or small business loans). Financial companies typically issue ABS backed by existing loans in order to fund new loans for their customers. Commercial Mortgage-Backed Securities (“CMBS”): Bonds backed by one or more mortgages on commercial real estate (e.g., office buildings, rental apartments, hotels). For detailed discussion of TALF, see SIGTARP’s July 2014 Quarterly Report, pages 258-261. For more information on the UCSB, see SIGTARP’s October 2014 Quarterly Report, page 320. For more information on the selection of PPIP managers, see SIGTARP’s October 7, 2010, audit report entitled “Selecting Fund Managers for the Legacy Securities Public-Private Investment Program.” For more information on PPIP, including information on the securities purchased, see SIGTARP’s April 2014 Quarterly Report, pages 231-244. Legacy Securities: Real estate-related securities originally issued before 2009 that remained on the balance sheets of financial institutions because of pricing difficulties that resulted from market disruption. ASSET SUPPORT PROGRAMS Three TARP programs have focused on supporting markets for specific asset classes: the Term Asset-Backed Securities Loan Facility (“TALF”), the Unlocking Credit for Small Businesses (“UCSB”) program, and the Public-Private Investment Program (“PPIP”). TALF TALF was designed to support asset-backed securities (“ABS”) transactions by providing eligible borrowers $71.1 billion in loans through the Federal Reserve Bank of New York (“FRBNY”) to purchase non-mortgage-backed ABS and commercial mortgage-backed securities (“CMBS”).328 As of February 6, 2013, all TARP funding for TALF was either deobligated or recovered.329 Of the $71.1 billion in TALF loans, none defaulted and no loans remained outstanding as of March 31, 2016.330 Additionally, Treasury has received $671.1 million in income on the asset disposition facility it set up with the program through March 31, 2016.331 UCSB Through the UCSB loan support initiative to encourage banks to increase small business lending, Treasury purchased $368.1 million in 31 Small Business Administration 7(a) securities, which are securitized small-business loans.332 According to Treasury, on January 24, 2012, Treasury sold its remaining securities and ended the program with a total investment gain of about $9 million for all the securities, including sale proceeds and payments of principal, interest, and debt.333 PPIP According to Treasury, the purpose of the Public-Private Investment Program (“PPIP”) was to purchase legacy securities through Public-Private Investment Funds (“PPIFs”). Treasury selected nine fund management firms to establish PPIFs to invest in mortgage-backed securities using equity capital from private sector investors combined with TARP equity and debt.334 As of March 31, 2016, the entire PPIP portfolio had been liquidated, and all PPIP funds had been legally dissolved.335 All $18.6 billion in TARP funding that was drawn down was fully repaid by PPIP fund managers.336 Treasury also received approximately $3.5 billion in gross income payments and capital gains and warrants that it sold for $87 million.337 Equity: Investment that represents an ownership interest in a business. Debt: Investment in a business that is required to be paid back to the investor, usually with interest. SECT ION 5 TARP OPERATIONS AND ADMINISTRATION 222 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 TARP ADMINISTRATIVE AND PROGRAM OPERATING EXPENDITURES According to Treasury, as of March 31, 2016, it had spent $432 million on TARP administrative costs and $1.3 billion on programmatic operating expenditures, for a total of $1.7 billion since the beginning of TARP.338 Much of the work on TARP is performed by private vendors rather than Government employees. Treasury reported that as of March 31, 2016, it employs 24 career civil servants, 43 term appointees, and 19 reimbursable detailees, for a total of 86 full-time employees.339 Between TARP’s inception in 2008 and March 31, 2016, Treasury had retained 101 private vendors — 21 financial agents and 80 contractors — to help administer TARP.340 According to Treasury, as of March 31, 2016, 28 private vendors were active — five financial agents and 23 contractors, some with multiple contracts.341 The number of private-sector staffers who provide services under these agreements dwarfs the number of people working for OFS. According to Fannie Mae and Freddie Mac, as of March 31, 2016, together they had about 439 people dedicated to working on their TARP contracts.342 According to Treasury, as of March 31, 2016 — the latest numbers available vary due to reporting cycles — at least another 77 people were working on other active OFS contracts, including financial agent and legal services contracts, for a total of approximately 516 private-sector employees working on TARP.343 Table 5.1 provides a summary of the expenditures and obligations for TARP administrative and programmatic operating costs through March 31, 2016. The administrative costs are categorized as “personnel services” and “non-personnel services.” Appendix E provides a summary of OFS service contracts, which include costs to hire financial agents and contractors, and obligations through March 31, 2016, excluding costs and obligations related to personnel services, travel, and transportation. 223 224 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 5.1 TARP ADMINISTRATIVE AND PROGRAMMATIC OBLIGATIONS AND EXPENDITURES Budget Object Class Title Administrative Obligations for Period Expenditures for Period Ending 3/31/2016 Ending 3/31/2016 $151,855,439 $151,855,439 $151,855,439 $151,855,439 $2,757,739 $2,746,745 11,960 11,960 730,561 730,561 872 872 321,062,874 274,346,004 2,395,166 2,394,806 246,699 246,699 Land & Structures -- -- Investments & Loans -- -- Grants, Subsidies & Contributions -- -- Insurance Claims & Indemnities -- -- Personnel Services Personnel Compensation & Benefits Total Personnel Services Non-Personnel Services Travel & Transportation of Persons Transportation of Things Rents, Communications, Utilities & Misc. Charges Printing & Reproduction Other Services Supplies & Materials Equipment Dividends and Interest Total Non-Personnel Services Total Administrative 711 711 $327,206,582 $280,478,358 $479,062,021 $432,333,797 Programmatic $1,344,595,096 $1,256,459,069 Total Administrative and Programmatic $1,823,657,117 $1,688,792,866 Notes: Numbers may not total due to rounding. The cost associated with “Other Services” under TARP Administrative Expenditures and Obligations are composed of administrative services including financial, administrative, IT, and legal (non-programmatic) support. Amounts are cumulative since the beginning of TARP. Source: Treasury, response to SIGTARP data call, 4/8/2016. FINANCIAL AGENTS EESA requires SIGTARP to provide biographical information for each person or entity hired to manage assets acquired through TARP.344 Treasury hired no new financial agents in the quarter ended March 31, 2016.345 ENDNOTES SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. Treasury, “Making Home Affordable Program Handbook for Servicers of Non-GSE Mortgages, Version 5.0,” 1/6/2016, www.hmpadmin.com/ portal/programs/docs/hamp_servicer/mhahandbook_5.pdf, accessed 3/31/2016. SIGTARP analysis of Treasury HAMP data. Treasury, Making Home Affordable Program Performance Report – December 2010, January 31, 2011, www.treasury.gov/initiatives/financialstability/reports/Pages/Making-Home-Affordable-Program-Performance-Report.aspx, accessed 3/31/2016. SIGTARP analysis of Treasury HAMP data. SIGTARP analysis of Treasury HAMP data. GAO, NONBANK MORTGAGE SERVICERS - Existing Regulatory Oversight Could Be Strengthened, March 2016 www.gao.gov/ assets/680/675747.pdf, accessed 4/11/2016. Congressional Research Service, “Who Regulates Whom and How? An Overview of U.S. Financial Regulatory Policy for Banking and Securities Markets”, www.fas.org/sgp/crs/misc/R43087.pdf, accessed 4/18/2016. GAO, NONBANK MORTGAGE SERVICERS - Existing Regulatory Oversight Could Be Strengthened, March 2016 www.gao.gov/ assets/680/675747.pdf, accessed 4/11/2016. SIGTARP analysis of Treasury HAMP data. Treasury, “Making Home Affordable Program Handbook for Servicers of Non-GSE Mortgages, V5.0,” 1/6/2016, www.hmpadmin.com/portal/ programs/docs/hamp_servicer/mhahandbook_5.pdf, accessed 3/31/2016. SIGTARP analysis of Treasury HAMP data. SIGTARP analysis of Treasury’s HAMP Servicing Transfers data. SIGTARP, “Quarterly Report to Congress,” 10/29/2014; www.sigtarp.gov/Quarterly%20Reports/October_29_2014_Report_to_Congress.pdf, accessed 3/31/2016. CFPB, Press Release: "CFPB and Federal Trade Commission Take Action Against Green Tree Servicing for Mistreating Borrowers Trying to Save Their Homes", April 21, 2015, www.consumerfinance.gov/newsroom/cfpb-and-federal-trade-commission-take-action-against-green-treeservicing-for-mistreating-borrowers-trying-to-save-their-homes/, accessed 3/23/2016. SIGTARP analysis of Treasury HAMP compliance examination reports; Treasury, Making Home Affordable Program Performance Reports, www. treasury.gov/initiatives/financial-stability/reports/Pages/Making-Home-Affordable-Program-Performance-Report.aspx, accessed 3/31/2016. Federal National Mortgage Association (“Fannie Mae”), Repayment Plan Website, www.knowyouroptions.com/avoid-foreclosure/options-to-stayin-your-home/repayment-plan, accessed 3/31/2016. 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Illinois Housing Development Authority, “Illinois Hardest Hit Program, Reporting, Illinois HHF Fourth Quarter Performance Report 2015,” no date, www.illinoishardesthit.org/spv-7.aspx, accessed 4/1/2016. 188. Treasury, responses to SIGTARP data calls, 10/7/2013, 10/17/2013, 1/17/2014, 4/9/2014, 7/8/2014, 10/6/2014, 1/5/2015, 4/6/2015, 7/6/2015, 10/5/2015, 1/8/2016 and 4/4/2016; Illinois Housing Development Authority, “Welcome to the Illinois Hardest Hit Program,” no date, www. illinoishardesthit.org/, accessed 4/1/2016. 189. Treasury, Transactions Report-Housing Programs, 12/28/2015, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 Transactions%20Report%20as%20of%2012.28.2015.pdf, accessed 4/1/2016; Treasury, responses to SIGTARP data calls, 1/8/2016 and 4/4/2016. 190. 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Treasury, Transactions Report-Housing Programs, 12/28/2015, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 Transactions%20Report%20as%20of%2012.28.2015.pdf, accessed 4/1/2016; Treasury, responses to SIGTARP data calls, 1/8/2016 and 4/4/2016. Figures obtained from each state’s Quarterly Financial Report, which reconciles each type of cash disbursement to funds drawn from Treasury. As such, all expenses are based on actual cash disbursements. Additionally, cash-on-hand may include lien recoveries and borrower remittances. 203. Treasury, Transactions Report-Housing Programs, 12/28/2015, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 Transactions%20Report%20as%20of%2012.28.2015.pdf, accessed 4/1/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 4/1/2016. 204. 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Corporation, Twelfth Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement, www.treasury.gov/ initiatives/financial-stability/TARP-Programs/housing/Documents/(9462458)_(2)_Redacted%20NV%2012th%20Amendment%20to%20HPA.pdf, accessed 4/1/2016; Fourteenth Amendment to Agreement, accessed 4/1/2016. Treasury, Transactions Report-Housing Programs, 12/28/2015, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 Transactions%20Report%20as%20of%2012.28.2015.pdf, accessed 4/1/2016; Treasury, responses to SIGTARP data calls, 1/8/2016, and 4/4/2016. Treasury, responses to SIGTARP data calls, 7/5/2013, 10/17/2013, 1/17/2014, 4/9/2014, 7/8/2014, 10/6/2014, 1/5/2015, 4/6/2015, 7/6/2015, 10/5/2015, 1/8/2016, and 4/4/2016; Treasury, Transactions Report-Housing Programs, 12/28/2015, www.treasury.gov/initiatives/financial-stability/ reports/Documents/Housing%20Transactions%20Report%20as%20of%2012.28.2015.pdf, accessed 4/1/2016. 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Treasury, Transactions Report, 3/25/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/03-29-16%20Transactions%20 Report%20as%20of%2003-25-16_INVESTMENT.pdf, accessed 4/1/2016; Treasury, Monthly TARP Update, 4/1/2016, www.treasury.gov/ initiatives/financial-stability/reports/Documents/Monthly_TARP_Update%20-%2004.01.2016.pdf, accessed 4/1/2016; Treasury, Dividends and Interest Report, 4/11/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/December%202015%20Dividend_Interest%20 Report.pdf, accessed 4/11/2016. 309. Treasury, “Guidelines for Targeted Investment Program,” 1/2/2009, www.treasury.gov/press-center/press-releases/Pages/hp1338.aspx, accessed 4/1/2016. 310. Treasury, Monthly Report to Congress, March 2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/2016.03%20March%20 Monthly%20Report%20to%20Congress.pdf, accessed 4/11/2016. 311. Treasury, Transactions Report, 3/25/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/03-29-16%20Transactions%20 Report%20as%20of%2003-25-16_INVESTMENT.pdf, accessed 4/1/2016. SIGTARP QUARTERLY REPORT TO CONGRESS I APRIL 27, 2016 312. Treasury, Transactions Report, 3/25/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/03-29-16%20Transactions%20 Report%20as%20of%2003-25-16_INVESTMENT.pdf, accessed 4/1/2016. 313. Treasury, “Exchange Agreement,” 6/9/2009, www.treasury.gov/initiatives/financial-stability/programs/investment-programs/agp/ Documents/Citigroup%20Exchange%20Agreement.pdf, accessed 4/1/2016; Citigroup, 424(b)(7), 1/24/2011, www.sec.gov/Archives/edgar/ data/831001/000095012311004665/y89177b7e424b7.htm, accessed 4/1/2016. 314. SIGTARP, “Extraordinary Financial Assistance Provided to Citigroup, Inc.,” 1/13/2011, www.sigtarp.gov/Audit%20Reports/Extraordinary%20 Financial%20Assistance%20Provided%20to%20Citigroup,%20Inc.pdf, accessed 4/1/2016. 315. Treasury, “Treasury Prices Sale of Citigroup Subordinated Notes for Proceeds of $894 Million, Providing an Additional Profit for Taxpayers on TARP Citigroup Investment,” 2/5/2013, www.treasury.gov/press-center/press-releases/Pages/tg1841.aspx, accessed 4/1/2016; Treasury, “Citigroup Termination Agreement,” 12/23/2009, www.treasury.gov/initiatives/financial-stability/programs/investment-programs/agp/Documents/ Citi%20AGP%20Termination%20Agreement%20-%20Fully%20Executed%20Version.pdf, accessed 4/1/2016. 316. Treasury, “Treasury Prices Sale of Citigroup Subordinated Notes for Proceeds of $894 Million, Providing an Additional Profit for Taxpayers on TARP Citigroup Investment,” 2/5/2013, www.treasury.gov/press-center/press-releases/Pages/tg1841.aspx, accessed 4/1/2016. 317. SIGTARP, “Extraordinary Financial Assistance Provided to Citigroup, Inc.,” 1/13/2011, www.sigtarp.gov/Audit%20Reports/Extraordinary%20 Financial%20Assistance%20Provided%20to%20Citigroup,%20Inc.pdf, accessed 4/1/2016. 318. Treasury, Transactions Report, 3/25/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/03-29-16%20Transactions%20 Report%20as%20of%2003-25-16_INVESTMENT.pdf, accessed 4/1/2016. 319. Bank of America, 8-K, 9/22/2009, www.sec.gov/Archives/edgar/data/70858/000119312509195594/d8k.htm, accessed 4/1/2016; Bank of America, “Termination Agreement,” 9/21/2009, www.treasury.gov/initiatives/financial-stability/programs/investment-programs/agp/Documents/ BofA%20-%20Termination%20Agreement%20-%20executed.pdf, accessed 4/1/2016. 320. Treasury, Transactions Report, 3/25/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/03-29-16%20Transactions%20 Report%20as%20of%2003-25-16_INVESTMENT.pdf, accessed 4/1/2016; Treasury, Auto Industry, no date, www.treasury.gov/initiatives/ financial-stability/TARP-Programs/automotive-programs/pages/default.aspx, accessed 4/1/2016. 321. Treasury, Monthly TARP Update, 4/1/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Monthly_TARP_Update%20-%20 04.01.2016.pdf, accessed 4/1/2016. 322. 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Treasury, Office of Financial Stability: Agency Financial Report - Fiscal Year 2010, 11/15/2010, www.treasury.gov/initiatives/financial-stability/ briefing-room/reports/agency_reports/Documents/2010%20OFS%20AFR%20Nov%2015.pdf, accessed 4/1/2016; Treasury, Transactions Report, 3/25/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/03-29-16%20Transactions%20Report%20as%20of%2003-2516_INVESTMENT.pdf, accessed 4/1/2016. 328. Federal Reserve Press Release, 6/28/2012, www.federalreserve.gov/newsevents/press/monetary/20120628a.htm, accessed 4/1/2016. 329. Treasury, Monthly TARP Update, 4/1/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Monthly_TARP_Update%20 -%2004.01.2016.pdf, accessed 4/1/2016; Treasury, Transactions Report, 3/25/2016, www.treasury.gov/initiatives/financial-stability/reports/ Documents/03-29-16%20Transactions%20Report%20as%20of%2003-25-16_INVESTMENT.pdf, accessed 4/1/2016. 330. FRBNY, response to SIGTARP data call, 3/13/2015. 331. Treasury, response to SIGTARP data call, 4/4/2016. 332. Treasury, Transactions Report, 3/25/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/03-29-16%20Transactions%20 Report%20as%20of%2003-25-16_INVESTMENT.pdf, accessed 4/1/2016. 333. Treasury, Transactions Report, 3/25/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/03-29-16%20Transactions%20 Report%20as%20of%2003-25-16_INVESTMENT.pdf, accessed 4/1/2016. 334. Treasury, Legacy Securities Public-Private Investment Program: Program Update – Quarter Ended September 30, 2013, October 28, 2013, www.treasury.gov/initiatives/financial-stability/reports/Documents/External%20Report%2013%20-9%20Final.pdf, accessed 4/1/2016. 335. Treasury, response to SIGTARP data call, 4/4/2016. 336. Treasury, Transactions Report, 3/25/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/03-29-16%20Transactions%20 Report%20as%20of%2003-25-16_INVESTMENT.pdf, accessed 4/1/2016. 337. Treasury, response to SIGTARP data call, 4/4/2016. 338. Treasury, response to SIGTARP data calls, 4/6/2016 and 4/8/2016. 339. Treasury, response to SIGTARP data call, 4/8/2016. 340. Treasury, response to SIGTARP data call, 4/8/2016. 237 238 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 341. 342. 343. 344. 345. Treasury, response to SIGTARP data call, 4/8/2016. Fannie Mae, response to SIGTARP data call, 4/4/2016; Freddie Mac, response to SIGTARP data call, 4/4/2016. Treasury, response to SIGTARP data call, 4/8/2016. Emergency Economic Stabilization Act of 2008, P.L. 110-343, 10/3/2008. Treasury, response to SIGTARP data call, 4/8/2016. GLOSSARY I APPENDIX A I APRIL 27, 2016 GLOSSARY This appendix provides a glossary of terms that are used in the context of this report. Asset-Backed Securities (“ABS”): Bonds backed by a portfolio of consumer or corporate loans (e.g., credit card, auto, or small business loans). Financial companies typically issue ABS backed by existing loans in order to fund new loans for their customers. Commercial Mortgage-Backed Securities (“CMBS”): Bonds backed by one or more mortgages on commercial real estate (e.g., office buildings, rental apartments, hotels). Community Development Financial Institutions (“CDFIs”): Financial institutions eligible for Treasury funding to serve urban and rural low-income communities through the CDFI Fund. CDFIs were created in 1994 by the Riegle Community Development and Regulatory Improvement Act. Debt: Investment in a business that is required to be paid back to the investor, usually with interest. Deed-in-Lieu of Foreclosure: Instead of going through foreclosure, the homeowner voluntarily surrenders the deed to the home to the investor as satisfaction of the unpaid mortgage balance. Deficiency Judgment: Court order authorizing a lender to collect all or part of an unpaid and outstanding debt resulting from the borrower’s default on the mortgage note securing a debt. A deficiency judgment is rendered after the foreclosed or repossessed property is sold when the proceeds are insufficient to repay the full mortgage debt. Equity: Investment that represents an ownership interest in a business. Government-Sponsored Enterprises (“GSEs”): Private corporations created and chartered by the Government to reduce borrowing costs and provide liquidity in the market, the liabilities of which are not officially considered direct taxpayer obligations. On September 7, 2008, the two largest GSEs, the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”), were placed into Federal conservatorship. They are currently being financially supported by the Government. Investors: Owners of mortgage loans or bonds backed by mortgage loans who receive interest and principal payments from monthly mortgage payments. Servicers manage the cash flow from homeowners’ monthly payments and distribute them to investors according to Pooling and Servicing Agreements (“PSAs”). Legacy Securities: Real estate-related securities originally issued before 2009 that remained on the balance sheets of financial institutions because of pricing difficulties that resulted from market disruption. Mortgage Servicers: Companies that perform administrative tasks on monthly mortgage payments until the loan is repaid. These tasks include billing, tracking, and collecting monthly payments; maintaining records of payments and balances; allocating and distributing payment collections to investors in accordance with each mortgage loan’s governing documentation; following up on delinquencies; and initiating foreclosures. Net Present Value (“NPV”) Test: Compares the money generated by modifying the terms of the mortgage with the amount an investor can reasonably expect to recover in a foreclosure sale. Risk-Weighted Assets: Risk-based measure of total assets held by a financial institution. Assets are assigned broad risk categories. The amount in each risk category is then multiplied by a risk factor associated with that category. The sum of the resulting weighted values from each of the risk categories is the bank’s total risk-weighted assets. Short Sale: Sale of a home for less than the unpaid mortgage balance. A homeowner sells the home and the investor accepts the proceeds as full or partial satisfaction of the unpaid mortgage balance, thus avoiding the foreclosure process. Special Purpose Vehicle (“SPV”): A legal entity, often offbalance-sheet, that holds transferred assets presumptively beyond the reach of the entities providing the assets, and that is legally isolated from its sponsor or parent company. 239 240 APPENDIX A I GLOSSARY I APRIL 27, 2016 Systemically Significant Institutions: Term referring to any financial institution whose failure would impose significant losses on creditors and counterparties, call into question the financial strength of similar institutions, disrupt financial markets, raise borrowing costs for households and businesses, and reduce household wealth. Trust Preferred Securities (“TRUPS”): Securities that have both equity and debt characteristics created by establishing a trust and issuing debt to it. Underwater Mortgage: Mortgage loan on which a homeowner owes more than the home is worth, typically as a result of a decline in the home’s value. Underwater mortgages also are referred to as having negative equity. Sources: Board of Governors of the Federal Reserve System, “Bank Holding Companies,” no date, www. fedpartnership.gov/bank-life-cycle/manage-transition/bank-holding-companies.cfm, accessed 4/1/2016. Federal Reserve Board, Federal Reserve Banks Operating Circular No. 9: Treasury Investments and Collateral Securing Public Funds and Financial Interests of the Government, www.frbservices.org/ files/regulations/pdf/operating_circular_9_072513.pdf, accessed 4/1/2016. FCIC, glossary, no date, www.fcic.gov/resource/glossary, accessed 4/1/2016. FDIC, “Credit Card Securitization Manual,” no date, www.fdic.gov/regulations/examinations/credit_ card_securitization/glossary.html, accessed 4/1/2016. FDIC, “FDIC Law, Regulations, Related Acts,” no date, www.fdic.gov/regulations/laws/ rules/2000-4600.html, accessed 4/1/2016. FRBNY, “TALF FAQ’s,” 7/21/2010, www.newyorkfed.org/markets/talf_faq.html, accessed 4/1/2016. SIGTARP, “Factors Affecting Implementation of the Home Affordable Modification Program,” 3/25/2010, www.sigtarp.gov/Audit%20Reports/Factors_Affecting_Implementation_of_the_Home_ Affordable_Modification_Program.pdf, accessed 4/1/2016. GAO, “Principles of Federal Appropriations Law, Third Edition, Volume II,” 1/2004, www.gao.gov/ special.pubs/d06382sp.pdf, p. 7-3, accessed 4/1/2016; GAO, “Troubled Asset Relief Program Treasury Needs to Strengthen Its Decision-Making Process on the Term Asset-Backed Securities Loan Facility,” 2/2010, www.gao.gov/new.items/d1025.pdf, accessed 4/1/2016; GAO, “Troubled Asset Relief Program: Third Quarter 2010 Update of Government Assistance Provided to AIG and Description of Recent Execution of Recapitalization Plan,” 1/20/2011, www.gao.gov/new.items/ d1146.pdf, accessed 4/1/2016. IRS, “Glossary of Offshore Terms,” no date, www.irs.gov/Businesses/Small-Businesses-&-SelfEmployed/Abusive-Offshore-Tax-Avoidance-Schemes-Glossary-of-Offshore-Terms, accessed 4/1/2016. Making Home Affordable base NPV model documentation v5.01, updated 10/1/2012, www. hmpadmin.com/portal/programs/docs/hamp_servicer/npvmodeldocumentationv501.pdf, pp. 23-24, accessed 4/1/2016. SBA, “Notice of Changes to SBA Secondary Market Program,” 9/21/2004, www.federalregister. gov/articles/2004/09/21/04-21126/notice-of-changes-to-sba-secondary-market-program, accessed 4/1/2016. SEC, “NRSRO,” no date, www.sec.gov/answers/nrsro.htm, accessed 4/1/2016. Treasury, “Decoder,” www.treasury.gov/initiatives/financial-stability/Pages/Glossary.aspx, accessed 4/1/2016. Treasury, “Fact Sheet: Unlocking Credit for Small Businesses,” 3/16/2009, www.treasury.gov/presscenter/press-releases/Pages/tg58.aspx, accessed 4/1/2016. Treasury, “Special Master Feinberg Testimony before the House Committee on Oversight and Government Reform,” 10/28/2009, www.treasury.gov/press-center/press-releases/Pages/tg334. aspx, accessed 4/1/2016. Treasury, “Supplemental Directive 10-14: Making Home Affordable Program - Principal Reduction Alternative Update,” 10/15/2010, www.hmpadmin.com/portal/programs/docs/hamp_servicer/ sd1014.pdf, accessed 4/1/2016. Treasury, “TARP Standards for Compensation and Corporate Governance,” 6/10/2009, www. treasury.gov/press-center/press-releases/Pages/tg165.aspx, accessed 4/1/2016. U.S. Census Bureau, “Residential Finance Survey, Glossary of RFS Terms And Definitions,” no date, www.census.gov/hhes/www/rfs/glossary.html#l, accessed 4/1/2016. U.S. Department of Housing and Urban Development, “Glossary,” no date, www.huduser.org/portal/ glossary/glossary_all.html, accessed 4/1/2016. ACRONYMS AND ABBREVIATIONS I APPENDIX B I APRIL 27, 2016 ACRONYMS AND ABBREVIATIONS 2MP Second Lien Modification Program ABS asset-backed securities AGP Asset Guarantee Program AIFP AIG Automotive Industry Financing Program American International Group, Inc. ASSP Auto Supplier Support Program AWCP Auto Warranty Commitment Program Bank of America Bank of America Corp. BOC Broadway Federal Bank of the Commonwealth Broadway Federal Bank CDCI Community Development Capital Initiative CDFI Community Development Financial Institution CFPB Chrysler Chrysler Financial Citigroup Consumer Financial Protection Bureau Chrysler LLC Chrysler Financial Services Americas LLC Citigroup Inc. Citizens Citizens First National Bank CMBS commercial mortgage-backed securities Ditech Ditech Financial, LLC EESA Emergency Economic Stabilization Act of 2008 Fannie Mae Federal National Mortgage Association FDIC Federal Reserve FHA Federal Deposit Insurance Corporation Federal Reserve Federal Housing Administration FRBNY Federal Reserve Bank of New York Freddie Mac GM GSE HAFA HAMP Federal Home Loan Mortgage Corporation General Motors Company Government-sponsored enterprise Home Affordable Foreclosure Alternatives program Home Affordable Modification Program HFA Housing Finance Agency HHF Housing Finance Agency Hardest Hit Fund HPDP Home Price Decline Protection Homebuyer Down Payment Assistance to Homebuyers Assistance HUD U.S. Department of Housing and Urban Development M&T M&T Bank Corporation MHA Making Home Affordable program NCUA NPV NYDFS OCC National Credit Union Administration net present value New York State Department of Financial Services Office of the Comptroller of the Currency Ocwen Ocwen Loan Servicing, LLC OFS OFS Compliance Office of Financial Stability The Compliance Department of the Office of Financial Stability One Bank One Bank & Trust, N.A. One Financial One Financial Corporation PHH PHH Mortgage Corporation PII personally identifiable information PPIF Public-Private Investment Fund PPIP Public-Private Investment Program PRA Principal Reduction Alternative PSA Pooling and Servicing Agreements RD Department of Agriculture Office of Rural Development RD-HAMP Department of Agriculture Office of Rural Development HAMP RMA RMBS SEC SAGN SIGTARP Request for Mortgage Assistance residential mortgage-backed securities Securities and Exchange Commission Saigon National Bank Office of the Special Inspector General for the Troubled Asset Relief Program SPS Select Portfolio Servicing, Inc. SPV special purpose vehicle SSFI Systemically Significant Failing Institutions program TALF Term Asset-Backed Securities Loan Facility TARP Troubled Asset Relief Program TBC Tifton Bank Corporation TBW Taylor, Bean and Whitaker Mortgage Corporation TIP Targeted Investment Program 241 242 APPENDIX B I ACRONYMS AND ABBREVIATIONS I APRIL 27, 2016 Treasury/FHA- Treasury/Federal Housing Administration Second 2LP Lien Program Treasury/FHA- Treasury/Federal Housing Administration-Home HAMP Affordable Modification Program TRUPS trust preferred securities UCB United Commercial Bank UCBH United Commercial Bank Holdings, Inc. UCSB Unlocking Credit for Small Businesses UP Home Affordable Unemployment Program VA HAMP WTC Department of Veterans Affairs–Home Affordable Modification Program Wilmington Trust Company 4/24/2009 3/26/2013 2/7/2013 2/6/2013 6/26/2009 6/17/2009 5/13/2009 12/19/2008 4/9/2013 3/28/2013 3/27/2013 6/26/2009 4/1/2014 3/26/2013 1/11/2013 11/29/2012 11/28/2012 2/6/2009 9/12/2013 7/22/2013 7/19/2013 1/23/2009 7/21/2011 1/30/2009 3/19/2014 2/10/2014 1/6/2014 11/19/2013 1/23/2009 11/18/2009 3/13/2009 3/9/2011 12/29/2010 1/23/2009 12/31/2013 11/14/2008 9/1/2011 12/11/2009 2/13/2009 11/22/2011 10/27/2010 12/23/2008 Transactions Date Allied First Bancorp, Inc., Oswego, IL8 Alliance Financial Services Inc., Saint Paul, MN14,15 Alliance Financial Corporation, Syracuse, NY11 Alliance Bancshares, Inc., Dalton, GA Alaska Pacific Bancshares, Inc., Juneau, AK104 Alarion Financial Services, Inc., Ocala, FL8,14 Adbanc, Inc, Ogallala, NE8,14,44 AB&T Financial Corporation, Gastonia, NC 1st United Bancorp, Inc., Boca Raton, FL8,11,14 1st Source Corporation, South Bend, IN11 1st Financial Services Corporation, Hendersonville, NC102 1st Enterprise Bank, Los Angeles, CA8,14,18,44 1st Constitution Bancorp, Cranbury, NJ11 Institution $3,652,000.00 $12,000,000.00 $26,918,000.00 $2,986,000.00 $4,781,000.00 $6,514,000.00 $12,720,000.00 $3,500,000.00 $10,000,000.00 $111,000,000.00 $16,369,000.00 $6,000,000.00 $4,400,000.00 $12,000,000.00 Investment Amount $409,753.00 $9,806,136.60 $28,356,360.00 $3,581,397.27 $7,501,881.70 $7,674,004.73 $15,071,769.00 $1,274,909.59 $10,870,902.67 $125,480,000.00 $9,229,948.97 $11,748,156.44 $13,433,242.67 Total Cash Back2 $5,626,575.00 $3,375,945.00 $26,918,000.00 $2,856,437.46 $4,058,697.67 $208,870.74 $5,524,880.90 $877,729.70 $12,720,000.00 $150,621.36 $815,100.00 $10,000,000.00 $111,000,000.00 $8,000,000.00 $10,400,000.00 $12,000,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 TABLE C.1 ($90,025.20) ($25,000.00) ($7,324.33) ($42,675.67) ($64,026.11) ($1,506.21) ($50,000.00) Auction Fee4 7,500,000 4,500,000 26,918 2,986 4,547 234 5,621 893 12,720 536 2,964 10,000 111,000 16,369 10,400 12,000 Number of Shares Disposed $0.75 $0.75 $1,000.00 $956.61 $892.61 $892.61 $982.90 $982.90 $1,000.00 $281.01 $275.00 $1,000.00 $1,000.00 $488.73 $1,000.00 $1,000.00 Average Price of Shares Disposed ($1,873,425.00) ($1,124,055.00) ($129,562.54) ($488,302.33) ($25,129.26) ($96,119.10) ($15,270.30) ($385,378.64) ($2,148,900.00) ($8,369,000.00) (Realized Loss) / (Write-off) Gain5 $504,900.00 $900,000.00 $44,746.31 $94,153.69 $2,370,908.26 $337,363.35 $636,000.00 $500,000.00 $3,750,000.00 $220,000.00 $326,576.00 $0.89 $26.95 $41.97 $23.91 $32.91 $0.34 $9.54 $31.84 $251.07 $21.17 $12.66 Stock Price as of Warrant Sales 3/31/2016 80,153 Current Outstanding Warrants Continued on next page $409,753.00 $388,741.80 $538,360.00 $611,059.81 $913,405.03 $998,056.89 $1,715,769.00 $360,694.44 $370,902.67 $10,730,000.00 $1,229,948.97 $1,128,156.44 $1,106,666.67 Dividend/Interest Paid to Treasury TRANSACTIONS DETAIL TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 243 Avenue Financial Holdings, Inc., Nashville, TN8,14,44 Atlantic Bancshares, Inc., Bluffton, SC8,17 Associated Banc-Corp, Green Bay, WI11 Annapolis Bancorp, Inc./F.N.B. Corporation, Annapolis,MD11,90 Anchor BanCorp Wisconsin Inc., Madison, WI94 AmFirst Financial Services, Inc., McCook, NE14,15 AmeriServ Financial, Inc, Johnstown, PA45 Avidbank Holdings, Inc./Peninsula Bank Holding Co., Palo Alto, CA11 1/30/2009 8/28/2013 7/31/2013 9/15/2011 2/27/2009 3/19/2014 2/10/2014 2/7/2014 12/29/2009 12/6/2011 9/14/2011 4/6/2011 11/21/2008 5/28/2015 3/6/2013 4/18/2012 1/30/2009 9/27/2013 1/30/2009 4/9/2013 3/28/2013 3/27/2013 3/26/2013 8/21/2009 11/2/2011 8/11/2011 12/19/2008 8/22/2012 6/19/2012 11/21/2008 11/2/2011 Ameris Bancorp, Moultrie, GA American State Bancshares, Inc., Great Bend, KS8,11,14 1/9/2009 1/26/2011 American Premier Bancorp, Arcadia, CA8,11,14 American Express Company, New York, NY11 AmeriBank Holding Company/American Bank of Oklahoma, Collinsville, OK8,14,44 AMB Financial Corp., Munster, IN8,14,45 Alpine Banks of Colorado, Glenwood Springs, CO8,14 Institution 5/29/2009 7/29/2009 6/17/2009 1/9/2009 9/15/2011 3/6/2009 9/22/2011 1/30/2009 11/16/2012 9/20/2012 9/19/2012 9/18/2012 3/27/2009 Transactions Date $6,000,000.00 $7,400,000.00 $2,000,000.00 $525,000,000.00 $8,152,000.00 $110,000,000.00 $5,000,000.00 $21,000,000.00 $52,000,000.00 $6,000,000.00 $1,800,000.00 $3,388,890,000.00 $2,492,000.00 $3,674,000.00 $70,000,000.00 Investment Amount $7,563,057.15 $8,798,415.33 $2,503,554.78 $596,539,172.32 $13,378,714.00 $6,000,000.00 $6,523,255.00 $24,601,666.66 $59,637,438.67 $7,220,141.67 $2,052,682.49 $3,803,257,308.33 $2,960,021.33 $4,387,576.45 $73,129,160.69 Total Cash Back2 (CONTINUED) $6,000,000.00 $7,400,000.00 $50,000.00 $1,950,000.00 $262,500,000.00 $262,500,000.00 $4,076,000.00 $4,076,000.00 $6,000,000.00 $2,328,960.00 $2,112,000.00 $359,040.00 $21,000,000.00 $48,391,200.00 $6,000,000.00 $1,800,000.00 $3,388,890,000.00 $2,492,000.00 $3,674,000.00 $50,160,264.00 $6,559,920.24 $280,115.76 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($25,000.00) ($48,000.00) ($725,868.00) ($570,003.00) Auction Fee4 6,000 7,400 50 1,950 262,500 262,500 4,076 4,076 60,000,000 2,426,000 2,200,000 374,000 21,000 52,000 6,000 1,800 3,388,890 2,492 3,674 61,600 8,056 344 Number of Shares Disposed $1,000.00 $1,000.00 $1,150.00 $1,150.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $0.10 $0.96 $0.96 $0.96 $1,000.00 $930.60 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $814.29 $814.29 $814.29 Average Price of Shares Disposed ($104,000,000.00) ($97,040.00) ($88,000.00) ($14,960.00) ($3,608,800.00) ($11,439,736.00) ($1,496,079.76) ($63,884.24) (Realized Loss) / (Write-off) $7,500.00 $292,500.00 Gain5 $190,781.12 $370,000.00 $10,798.98 $95,031.02 $3,435,005.65 $3,735,577.67 $259,875.00 $825,000.00 $2,670,000.00 $300,000.00 $90,000.00 $340,000,000.00 $125,000.00 $184,000.00 $3,291,750.00 $14.00 $19.37 $17.94 $13.01 $24.28 $2.99 $29.58 $61.40 $12.50 Stock Price as of Warrant Sales 3/31/2016 Current Outstanding Warrants Continued on next page $1,372,276.03 $1,028,415.33 $122,724.78 $68,104,166.67 $1,511,380.00 $2,776,666.66 $9,302,106.67 $920,141.67 $162,682.49 $74,367,308.33 $343,021.33 $529,576.45 $13,407,113.69 Dividend/Interest Paid to Treasury 244 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 9/8/2011 1/23/2009 4/24/2014 1/30/2009 11/24/2009 11/4/2009 12/12/2008 7/16/2014 4/17/2009 8/5/2009 6/17/2009 10/28/2008 11/23/2011 3/31/2009 12/5/2008 1/6/2014 10/21/2013 3/13/2009 10/26/2011 9/27/2011 11/14/2008 1/11/2013 11/30/2012 1/16/2009 3/9/2010 12/9/2009 1/9/2009 10/28/2008 3/26/2013 1/11/2013 12/20/2012 12/19/2012 8/14/2009 2/15/2013 12/19/2008 5/31/2013 4/29/2013 4/26/2013 4/3/2009 9/29/2010 2/20/2009 9/30/2009 8/5/2009 12/19/2008 8/18/2011 7/10/2009 7/14/2011 3/13/2009 Transactions Date BankFirst Capital Corporation, Macon, MS8,14,44 Bankers’ Bank of the West Bancorp, Inc., Denver, CO8,106 Bank of the Ozarks, Inc., Little Rock, AR11 Bank of the Carolinas Corporation, Mocksville, NC105 Bank of New York Mellon, New York, NY11 Bank of Marin Bancorp, Novato, CA11 Bank of George, Las Vegas, NV8 Bank of Commerce Holdings, Redding, CA44 Bank of Commerce, Charlotte, NC8,14 Bank of America Corporation, Charlotte, NC6,7,11 Bank Financial Services, Inc., Eden Prairie, MN8,14 BancTrust Financial Group, Inc., Mobile, AL83 BancStar, Inc., Festus, MO8,14 BancPlus Corporation, Ridgeland, MS8,11,14 Bancorp Rhode Island, Inc., Providence, RI11 Bancorp Financial, Inc., Oak Brook, IL8,17,44 BancIndependent, Inc., Sheffield, AL8,44 Institution $15,500,000.00 $12,639,000.00 $75,000,000.00 $13,179,000.00 $3,000,000,000.00 $28,000,000.00 $2,672,000.00 $17,000,000.00 $3,000,000.00 $10,000,000,000.00 $15,000,000,000.00 $1,004,000.00 $50,000,000.00 $8,600,000.00 $48,000,000.00 $30,000,000.00 $13,669,000.00 $21,100,000.00 Investment Amount $18,492,469.25 $17,097,990.60 $81,004,166.67 $4,334,427.00 $3,231,416,666.67 $30,155,095.11 $1,233,940.00 $19,564,027.78 $3,087,573.33 $26,599,663,040.28 $1,114,680.76 $60,451,155.74 $10,701,460.58 $54,607,399.33 $32,341,666.66 $15,595,736.93 $24,841,411.03 Total Cash Back2 (CONTINUED) $15,500,000.00 $12,639,000.00 $75,000,000.00 $3,294,750.00 $3,000,000,000.00 $28,000,000.00 $955,240.00 $17,000,000.00 $2,502,000.00 $25,000,000,000.00 $481,335.96 $451,600.92 $50,000,000.00 $8,352,695.00 $98,267.00 $48,000,000.00 $30,000,000.00 $13,669,000.00 $21,100,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($25,000.00) ($25,000.00) ($15,670.63) ($9,329.37) ($84,509.62) Auction Fee4 15,500 12,639 75,000 13,179 3,000,000 28,000 2,672 17,000 3,000 1,000,000 518 486 50,000 8,500 100 48,000 30,000 13,669 21,100 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 $250.00 $1,000.00 $1,000.00 $357.50 $1,000.00 $834.00 $25,000.00 $929.22 $929.22 $1,000.00 $982.67 $982.67 $1,000.00 $1,000.00 $1,000.00 $1,000.00 Average Price of Shares Disposed ($9,884,250.00) ($1,716,760.00) ($498,000.00) ($36,664.04) ($34,399.08) ($147,305.00) ($1,733.00) (Realized Loss) / (Write-off) Gain5 $775,000.00 $632,000.00 $2,650,000.00 $136,000,000.00 $1,703,984.00 $23,709.00 $125,000.00 $100,100.00 $305,913,040.28 $23,500.00 $15,000.00 $426,338.55 $2,400,000.00 $1,400,000.00 $410,000.00 $1,055,000.00 $41.97 $41.97 $36.83 $49.22 $6.35 $18.33 $13.52 $23.03 Stock Price as of Warrant Sales 3/31/2016 730,994 Current Outstanding Warrants Continued on next page $2,217,469.25 $3,826,990.60 $3,354,166.67 $1,039,677.00 $95,416,666.67 $451,111.11 $279,991.00 $2,439,027.78 $510,473.33 $1,293,750,000.00 $183,243.88 $10,436,155.74 $1,908,669.65 $4,207,399.33 $941,666.66 $1,516,736.93 $2,686,411.03 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 245 9/12/2012 6/27/2012 5/22/2009 1/11/2013 10/31/2012 10/29/2012 3/13/2009 3/26/2013 2/8/2013 2/7/2013 6/19/2009 7/28/2011 12/18/2009 4/24/2009 9/1/2011 2/13/2009 6/24/2009 5/27/2009 12/19/2008 12/28/2011 Blackridge Financial, Inc., Fargo, ND8,14 Blackhawk Bancorp, Inc., Beloit, WI8,14 Biscayne Bancshares, Inc., Coconut Grove, FL15,17 Birmingham Bloomfield Bancshares, Inc, Birmingham, MI8,14,18,44 Bern Bancshares, Inc., Bern, KS8,14,44 Berkshire Hills Bancorp, Inc., Pittsfield, MA11 $5,000,000.00 $10,000,000.00 $6,400,000.00 $1,744,000.00 $1,635,000.00 $985,000.00 $40,000,000.00 $2,892,000.00 $6,127,326.35 $11,459,461.11 $8,271,975.28 $3,803,022.67 $1,172,062.50 $41,917,777.78 $3,444,478.21 $1,500,000.00 $1,500,000.00 $1,500,000.00 $10,800,000.00 $1,706,000.00 $3,133,640,000.00 $18,751,000.00 $795,000.00 $109,717,680.00 $900,000.00 Capital Repayment / Disposition / Auction3,5 $2,750,000.00 $2,250,000.00 $8,913,450.00 $186,550.00 $3,700,820.00 $2,532,140.00 $3,379,000.00 $985,000.00 $40,000,000.00 $2,892,000.00 $300,000.00 6/12/2009 Berkshire Bancorp, Inc./Customers Bancorp, Inc., Phoenixville, PA8,11,14 $7,263,316.66 $13,371,500.00 $2,315,853.14 $3,293,353,918.53 $20,037,514.11 $942,411.42 $129,079,862.47 $1,100,653.50 Total Cash Back2 6/27/2012 $6,000,000.00 $10,800,000.00 $1,706,000.00 $3,133,640,000.00 $18,751,000.00 $795,000.00 $124,000,000.00 $1,000,000.00 Investment Amount $1,200,000.00 Beach Business Bank, Manhattan Beach, CA8,11,14 BCSB Bancorp, Inc., Baltimore, MD11 BCB Holding Company, Inc., Theodore, AL8,112 BB&T Corp., WinstonSalem, NC11 Bar Harbor Bankshares, Bar Harbor, ME12,16 Banner County Ban Corporation, Harrisburg, NE8,14,44 Banner Corporation/ Banner Bank, Walla Walla, WA BankGreenville Financial Corporation, Greenville, SC8,14 Institution (CONTINUED) 6/6/2012 3/7/2012 10/19/2011 7/6/2011 1/30/2009 4/19/2013 1/26/2011 12/23/2008 7/1/2014 4/3/2009 7/22/2009 6/17/2009 11/14/2008 7/28/2010 2/24/2010 1/16/2009 7/28/2011 2/6/2009 6/12/2013 4/3/2012 11/21/2008 3/26/2013 1/11/2013 11/9/2012 2/13/2009 Transactions Date CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($91,000.00) ($62,329.60) ($1,645,765.20) ($16,000.00) ($9,000.00) Auction Fee4 2,750 2,250 9,795 205 3,800,000 2,600,000 3,379 985 40,000 2,892 300 1,200 1,500 1,500 1,500 10,800 1,706 3,134 18,751 795 124,000 1,000 Number of Shares Disposed $1,000.00 $1,000.00 $910.00 $910.00 $0.97 $0.97 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000,000.00 $1,000.00 $1,000.00 $884.82 $900.00 Average Price of Shares Disposed ($881,550.00) ($18,450.00) ($99,180.00) ($67,860.00) ($14,282,320.00) ($100,000.00) (Realized Loss) / (Write-off) Gain5 $250,000.00 $470,250.00 $140,347.75 $64,158.97 $82,000.00 $50,000.00 $1,040,000.00 $145,000.00 $300,000.00 $1,442,000.00 $85,000.00 $67,010,401.86 $250,000.00 $40,000.00 $134,201.00 $21,880.50 $18.12 $8.79 $26.89 $78.75 $13.01 $33.27 $33.22 $42.04 Stock Price as of Warrant Sales 3/31/2016 Current Outstanding Warrants Continued on next page $877,326.35 $1,980,211.11 $1,896,838.16 $342,022.67 $137,062.50 $877,777.78 $407,478.21 $963,316.66 $1,129,500.00 $524,853.14 $92,703,516.67 $1,036,514.11 $107,411.42 $20,873,746.67 $203,773.00 Dividend/Interest Paid to Treasury 246 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 9/15/2011 7/17/2009 5/31/2013 4/29/2013 4/26/2013 5/15/2009 12/4/2009 11/14/2008 1/6/2014 11/19/2013 12/19/2008 4/20/2011 3/16/2011 2/23/2011 12/23/2008 2/7/2011 6/16/2010 1/13/2010 11/21/2008 4/9/2013 3/11/2013 3/8/2013 5/15/2009 7/14/2011 3/6/2009 4/25/2014 3/17/2014 3/14/2014 1/16/2009 8/4/2011 2/27/2009 9/19/2012 8/29/2012 12/5/2008 8/30/2013 4/17/2009 1/7/2015 1/6/2014 10/21/2013 10/18/2013 12/5/2008 2/10/2012 3/6/2009 1/11/2013 10/31/2012 10/29/2012 3/6/2009 Transactions Date Brotherhood Bancshares, Inc., Kansas City, KS8,14,44 Brogan Bankshares, Inc., Kaukauna, WI14,15 Broadway Financial Corporation, Los Angeles, CA9,10,18,65,96,99 Bridgeview Bancorp, Inc., Bridgeview, IL8 Bridge Capital Holdings, San Jose, CA11 Boston Private Financial Holdings, Inc., Boston, MA11 Boscobel Bancorp, Inc, Boscobel, WI14,15 BOH Holdings, Inc., Houston, TX8,14,44 BNCCORP, Inc., Bismarck, ND8 BNC Financial Group, Inc., New Canaan, CT8,14,44 BNC Bancorp, Thomasville, NC BNB Financial Services Corporation, New York, NY8 Blue Valley Ban Corp, Overland Park, KS Blue River Bancshares, Inc., Shelbyville, IN8,64,97 Blue Ridge Bancshares, Inc., Independence, MO8,14 Institution $11,000,000.00 $2,400,000.00 $6,000,000.00 $9,000,000.00 $38,000,000.00 $23,864,000.00 $154,000,000.00 $5,586,000.00 $10,000,000.00 $20,093,000.00 $4,797,000.00 $31,260,000.00 $7,500,000.00 $21,750,000.00 $5,000,000.00 $12,000,000.00 Investment Amount $12,845,586.01 $3,022,879.60 $810,416.67 $13,447,811.37 $27,872,582.22 $171,224,745.48 $6,947,457.50 $11,783,777.44 $26,941,865.35 $5,673,920.75 $35,140,666.12 $9,776,051.62 $21,264,901.65 $529,105.00 $11,938,437.34 Total Cash Back2 (CONTINUED) $11,000,000.00 $2,340,000.00 $60,000.00 $10,450,000.00 $8,864,000.00 $15,000,000.00 $104,000,000.00 $50,000,000.00 $5,586,000.00 $10,000,000.00 $19,950,000.00 $143,000.00 $4,797,000.00 $28,797,649.80 $7,500,000.00 $18,085,785.00 $3,177,232.50 $9,040,370.00 $19,630.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($25,000.00) ($104,500.00) ($61,787.30) ($201,147.00) ($431,964.75) ($212,630.18) ($90,600.00) Auction Fee4 11,000 2,340,000 60,000 38,000 8,864 15,000 104,000 50,000 5,586,000 10,000 19,950 143 4,797 31,260 7,500 18,500 3,250 11,974 26 Number of Shares Disposed $1,000.00 $1.05 $1.05 $275.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1.11 $1,000.00 $1,001.08 $1,001.08 $1,000.00 $921.23 $1,000.00 $977.61 $977.61 $755.00 $755.00 Average Price of Shares Disposed ($27,550,000.00) ($2,462,350.20) ($414,215.00) ($72,767.50) ($5,000,000.00) ($2,933,630.00) ($6,370.00) (Realized Loss) / (Write-off) $117,023.40 $3,000.60 $592,730.46 $21,546.00 $154.44 Gain5 $550,000.00 $125,135.60 $709,155.81 $1,395,000.00 $6,202,523.25 $129,709.80 $232,180.54 $500,000.00 $966,456.56 $29,737.13 $240,000.00 $939,920.00 $375,000.00 $3,056.00 $541,793.34 $1.93 $33.38 $11.45 $15.00 $21.12 $8.27 $0.02 $17.40 Stock Price as of Warrant Sales 3/31/2016 Current Outstanding Warrants Continued on next page $1,295,586.01 $402,720.00 $810,416.67 $2,393,155.56 $2,613,582.22 $11,022,222.23 $468,624.00 $1,283,777.44 $6,032,118.22 $636,920.75 $5,835,061.07 $1,901,051.62 $211,458.33 $529,105.00 $2,427,244.00 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 247 6/11/2013 3/26/2013 1/11/2013 11/30/2012 2/6/2009 4/19/2013 3/26/2013 2/21/2013 2/20/2013 1/9/2009 9/8/2011 10/23/2009 1/11/2013 11/9/2012 11/8/2012 12/23/2008 12/9/2009 6/17/2009 11/14/2008 10/2/2015 Carolina Trust Bank, Lincolnton, NC Carolina Bank Holdings, Inc., Greensboro, NC Cardinal Bancorp II, Inc., Washington, MO14,15,45 Capital Pacific Bancorp, Portland, OR8,14 Capital One Financial Corporation, McLean, VA11 Capital Commerce Bancorp, Inc., Milwaukee, WI8,128 4/10/2009 1/28/2011 Capital Bank Corporation, Raleigh, NC39 Capital Bancorp, Inc., Rockville, MD8,11,14 CalWest Bancorp, Rancho Santa Margarita, CA8,130 Calvert Financial Corporation, Ashland, MO8 California Oaks State Bank, Thousand Oaks, CA8,11,14 California Bank of Commerce, Lafayette, CA8,14,44 Cadence Financial Corporation, Starkville, MS125 Cache Valley Banking Company, Logan, UT8,14,18,44 C&F Financial Corporation, West Point, VA11 Butler Point, Inc., Catlin, IL8,11,14 Business Bancshares, Inc., Clayton, MO8,11,14 Institution 12/12/2008 12/30/2010 12/23/2008 12/23/2015 1/23/2009 2/17/2016 1/23/2009 12/8/2010 1/23/2009 9/15/2011 2/27/2009 3/4/2011 1/9/2009 7/14/2011 12/18/2009 12/23/2008 5/14/2014 4/11/2012 7/27/2011 1/9/2009 11/2/2011 3/13/2009 4/24/2013 1/9/2013 5/23/2012 4/24/2009 Transactions Date $4,000,000.00 $16,000,000.00 $6,251,000.00 $4,000,000.00 $3,555,199,000.00 $5,100,000.00 $41,279,000.00 $4,700,000.00 $4,656,000.00 $1,037,000.00 $3,300,000.00 $4,000,000.00 $44,000,000.00 $4,640,000.00 $4,767,000.00 $20,000,000.00 $607,000.00 $15,000,000.00 Investment Amount $3,994,452.00 $19,941,788.94 $7,547,479.56 $4,742,850.89 $3,806,873,702.13 $2,764,934.40 $45,252,104.25 $5,452,281.19 $5,285,163.67 $1,604,019.48 $3,802,219.25 $4,755,899.67 $41,984,062.50 $10,674,333.80 $25,205,957.78 $724,123.53 $18,707,708.84 Total Cash Back2 (CONTINUED) $3,412,000.00 $435,756.60 $14,525,843.40 $6,251,000.00 $3,505,712.96 $247,727.04 $3,555,199,000.00 $2,455,328.00 $41,279,000.00 $4,700,000.00 $4,656,000.00 $1,037,000.00 $3,300,000.00 $4,000,000.00 $38,000,000.00 $9,407,000.00 $10,000,000.00 $10,000,000.00 $607,000.00 $6,500,000.00 $2,500,000.00 $6,000,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($15,880.00) ($34,120.00) ($149,616.00) ($25,000.00) Auction Fee4 4,000 466 15,534 6,251,000 3,736 264 3,555,199 1,227,664 41,279 4,700 24,445,000 1,037 3,300 4,000 44,000 9,407 10,000 10,000 607 6,500 2,500 6,000 Number of Shares Disposed $853.00 $935.10 $935.10 $1.00 $938.36 $938.36 $1,000.00 $2.00 $1,000.00 $1,000.00 $0.20 $1,000.00 $1,000.00 $1,000.00 $863.64 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 Average Price of Shares Disposed ($588,000.00) ($30,243.40) ($1,008,156.60) ($230,287.04) ($16,272.96) ($2,644,672.00) ($6,000,000.00) (Realized Loss) / (Write-off) $233,000.00 Gain5 $19,132.00 $1,800,000.00 $313,000.00 $169,042.00 $146,500,064.55 $235,000.00 $52,000.00 $165,000.00 $200,000.00 $238,000.00 $2,303,180.00 $30,000.00 $750,000.00 $5.90 $16.80 $69.31 $26.42 $0.39 Stock Price as of Warrant Sales 3/31/2016 749,619 167,504 Current Outstanding Warrants Continued on next page $613,320.00 $3,329,804.94 $983,479.56 $845,368.89 $105,174,637.58 $309,606.40 $3,973,104.25 $517,281.19 $396,163.67 $515,019.48 $337,219.25 $555,899.67 $3,984,062.50 $1,029,333.80 $2,902,777.78 $87,123.53 $2,957,708.84 Dividend/Interest Paid to Treasury 248 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Auction Fee4 ($32,969.92) Cecil Bancorp, Inc., Elkton, MD CBS Banc-Corp., Russellville, AL8,14 $24,300,000.00 $11,560,000.00 $516,988.89 $27,432,357.95 $3,564,000.00 $21,073,056.00 $923,304.00 ($219,963.60) 4/15/2009 3/31/2009 1/16/2009 10/28/2009 9/30/2009 Centra Financial Holdings, Inc., Morgantown, WV8,11,14 $15,000,000.00 $27,875,000.00 $15,922,937.50 $29,283,302.58 $2,344,662.43 $65,855,083.33 $11,586,666.67 $4,672,098.50 $15,000,000.00 $27,875,000.00 $1,831,500.00 $24,750.00 $55,000,000.00 $10,000,000.00 ($6,437.50) 11/21/2008 Centerstate Banks of Florida Inc., Davenport, FL12,16 $2,250,000.00 $55,000,000.00 $10,000,000.00 $3,564,000.00 3/26/2013 CenterBank, Milford, OH8,14 Center Financial Corporation/BBCN Bancorp, Inc., Los Angeles, CA11,59 Center Bancorp, Inc., Union, NJ44 CedarStone Bank, Lebanon, TN8 1/11/2013 11/1/2012 10/29/2012 5/1/2009 5/27/2015 6/27/2012 12/12/2008 12/7/2011 9/15/2011 1/9/2009 11/20/2013 2/6/2009 12/23/2008 ($18,562.50) 9/11/2012 8/10/2012 8/9/2012 8/7/2012 3/27/2009 ($363.42) $2,831,259.86 $1,268,825.60 $6,500,000.00 $129,000,000.00 $129,000,000.00 $16,250,000.00 $18,980,000.00 $9,201,000.00 Capital Repayment / Disposition / Auction3,5 3/26/2013 $4,982,141.86 $271,579.53 $7,448,071.47 $329,874,444.96 $17,678,900.00 $20,511,580.55 $11,388,958.51 Total Cash Back2 (CONTINUED) 1/11/2013 11/29/2012 CBB Bancorp, Cartersville, GA8,18 $1,753,000.00 11/28/2012 $2,644,000.00 $4,114,000.00 $3,500,000.00 $3,000,000.00 $258,000,000.00 $38,970,000.00 $18,980,000.00 $9,201,000.00 Investment Amount 12/29/2009 CB Holding Corp., Aledo, IL8,57,97 Catskill Hudson Bancorp, Inc, Rock Hill, NY8,14,18,44 Cathay General Bancorp, Los Angeles, CA11 Cascade Financial Corporation, Everett, WA Carver Bancorp, Inc, New York, NY9,11,36 Carrollton Bancorp, Baltimore, MD11 Institution 2/20/2009 10/14/2011 5/29/2009 7/21/2011 12/22/2009 2/27/2009 12/9/2013 9/30/2013 3/20/2013 12/5/2008 6/30/2011 11/21/2008 8/27/2010 1/16/2009 4/19/2013 2/13/2009 Transactions Date CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 15,000 27,875 2,220 30 55,000 10,000 3,564 23,280 1,020 3,037 1,360 6,500 129,000 129,000 38,970 18,980 9,201 Number of Shares Disposed $1,000.00 $1,000.00 $825.00 $825.00 $1,000.00 $1,000.00 $1,000.00 $905.20 $905.20 $932.26 $932.96 $1,000.00 $1,000.00 $1,000.00 $416.99 $1,000.00 $1,000.00 Average Price of Shares Disposed ($388,500.00) ($5,250.00) ($2,206,944.00) ($96,696.00) ($205,740.14) ($91,174.40) ($4,114,000.00) ($22,720,000.00) (Realized Loss) / (Write-off) Gain5 $750,000.00 $212,000.00 $84,057.43 $1,115,500.00 $245,000.00 $178,000.00 $131,297.76 $689,313.24 $287,213.85 $115,861.34 $263,000.00 $13,107,778.30 $213,594.16 $36.70 $14.89 $15.19 $16.35 $0.33 $17.00 $28.33 $5.22 $4.82 Stock Price as of Warrant Sales 3/31/2016 261,538 523,076 Current Outstanding Warrants Continued on next page $172,937.50 $1,196,302.58 $429,355.00 $1,341,666.67 $930,098.50 $516,988.89 $4,548,136.70 $799,528.40 $271,579.53 $685,071.47 $58,766,666.66 $1,428,900.00 $1,531,580.55 $1,974,364.35 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 249 $11,205,387.14 $7,500,000.00 $6,056,000.00 $3,350,000.00 $7,000,000.00 $36,427,038.55 $36,337,500.00 $11,300,000.00 4/25/2014 3/17/2014 3/14/2014 7/31/2009 4/1/2015 5/29/2009 1/11/2013 12/20/2012 12/19/2012 6/19/2009 10/15/2014 3/19/2014 2/10/2014 1/6/2014 10/29/2013 Chicago Shore Corporation, Chicago, IL8 Chambers Bancshares, Inc., Danville, AR15 Century Financial Services Corporation, Santa Fe, NM14,15 $7,000,000.00 $19,817,000.00 $10,000,000.00 $8,981,348.81 $32,098,302.62 $13,186,960.25 $6,679,340.00 $257,660.00 $19,817,000.00 $9,810,600.00 $39,400.00 $577,638.02 $1,950,000.00 $32,668,000.00 $8,887,791.42 $6,739,821.89 $3,800,656.00 $8,077,516.47 $75,036,891.42 $12,704,145.10 $3,000,000.00 10/18/2013 Centrue Financial Corporation, Ottawa, IL $7,500,000.00 $6,056,000.00 $11,385,000.00 $7,000,000.00 $135,000,000.00 $11,300,000.00 $3,612,118.06 $15,043,340.40 $5,333,059.60 $5,800,000.00 $22,500,000.00 $10,000,000.00 Capital Repayment / Disposition / Auction3,5 $8,211,450.00 Centrix Bank & Trust, Bedford, NH8,14,44 Centric Financial Corporation, Harrisburg, PA8,17,44 Central Virginia Bankshares, Inc., Powhatan, VA93 Central Valley Community Bancorp, Fresno, CA45 Central Pacific Financial Corp., Honolulu, HI40 Central Jersey Bancorp, Oakhurst, NJ11 $7,225,000.00 $25,797,528.80 $6,859,176.83 $31,086,221.13 $13,886,111.11 Total Cash Back2 (CONTINUED) 9/25/2013 1/9/2009 7/28/2011 2/6/2009 7/14/2011 12/18/2009 10/1/2013 1/30/2009 9/28/2011 8/18/2011 1/30/2009 6/11/2013 4/4/2012 6/22/2011 1/9/2009 12/1/2010 11/24/2010 12/23/2008 9/26/2012 12/5/2008 1/11/2013 12/11/2012 2/20/2009 Central Federal Corporation, Fairlawn, OH $22,000,000.00 Central Community Corporation, Temple, TX8,14 12/10/2012 7/6/2011 $5,800,000.00 $22,500,000.00 $10,000,000.00 Investment Amount Central Bancshares, Inc., Houston, TX8,11,14 Central Bancorp, Inc., Garland, TX8,113 Central Bancorp, Inc., Somerville, MA45 Institution 1/30/2009 8/29/2014 2/27/2009 10/19/2011 8/25/2011 12/5/2008 Transactions Date CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($69,370.00) ($98,500.00) ($5,776.38) ($19,500.00) ($82,114.50) ($387,816.38) ($454,218.75) ($203,764.00) Auction Fee4 6,740 260 19,817,000 9,960,000 40,000 1,402 6,000 25,266 7,500 6,056 11,385 7,000 2,770,117 2,850,000 11,300 7,225 16,242 5,758 5,800 22,500 10,000 Number of Shares Disposed $991.00 $991.00 $1.00 $0.99 $0.99 $412.01 $325.00 $325.00 $1,000.00 $1,000.00 $294.25 $1,000.00 $13.15 $12.75 $1,000.00 $415.22 $926.20 $926.20 $1,000.00 $1,000.00 $1,000.00 Average Price of Shares Disposed ($60,660.00) ($2,340.00) ($149,400.00) ($600.00) ($824,361.98) ($4,050,000.00) ($17,054,550.00) ($8,035,000.00) ($30,113,532.58) ($32,121,928.87) ($4,225,000.00) ($1,198,659.60) ($424,940.40) (Realized Loss) / (Write-off) Gain5 $347,193.00 $991,000.00 $297,953.37 $198,635.58 $2,000.00 $375,000.00 $182,000.00 $185,016.80 $751,888.00 $319,658.99 $1,058,725.80 $290,000.00 $1,125,000.00 $2,525,000.00 $17.40 $38.20 $11.13 $21.77 $12.35 $1.35 $22.02 $45.96 Stock Price as of Warrant Sales 3/31/2016 508,320 Current Outstanding Warrants Continued on next page $1,766,525.81 $11,290,302.62 $2,938,871.30 $571,690.00 $1,012,791.42 $501,821.89 $450,656.00 $892,499.67 $2,362,500.00 $1,084,486.11 $612,118.06 $4,566,167.00 $769,176.83 $7,461,221.13 $1,361,111.11 Dividend/Interest Paid to Treasury 250 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Citizens Bank & Trust Company, Covington, LA8 Citizens Bancshares Corporation, Atlanta, GA9,11,36 Citizens Bancshares Co., Chillicothe, MO8,14 Citizens Bancorp, Nevada City, CA8,55,97 Citizens & Northern Corporation, Wellsboro, PA11 Citigroup Inc., New York, NY19,30 CIT Group Inc., New York, NY23 Institution 12/23/2008 1/11/2013 11/29/2012 11/28/2012 3/27/2009 4/7/2010 3/3/2010 12/30/2009 11/21/2008 8/7/2015 4/10/2009 11/9/2011 9/22/2011 12/12/2008 5/13/2015 4/12/2013 12/12/2008 4/15/2015 1/15/2014 2/13/2013 2/16/2011 12/19/2008 7/28/2011 Clover Community Bankshares, Inc., Clover, SC8,14 City National Corporation, Beverly Hills, CA/Royal Bank of Canada11 City National Bancshares Corporation, Newark, NJ8,9,124 Citizens South Banking Corporation, Gastonia, NC45 Citizens Republic Bancorp, Inc./ FirstMerit Corporation, Flint, Michigan86 Citizens First Corporation, Bowling Green, KY11 Citizens Community Bank, South Hill, VA8,14,44 Citizens Commerce Bancshares, Inc., Versailles, KY8 2/6/2009 8/6/2015 6/29/2015 3/20/2009 8/13/2010 3/6/2009 3/26/2013 2/8/2013 2/7/2013 5/29/2009 9/23/2011 12/23/2008 9/1/2010 8/4/2010 1/16/2009 1/31/2011 12/10/2010 10/28/2008 12/10/2009 12/31/2008 Transactions Date $3,000,000.00 $400,000,000.00 $9,439,000.00 $20,500,000.00 $300,000,000.00 $8,779,000.00 $3,000,000.00 $6,300,000.00 $2,400,000.00 $7,462,000.00 $24,990,000.00 $10,400,000.00 $26,440,000.00 $25,000,000,000.00 $2,330,000,000.00 Investment Amount $3,318,585.05 $442,416,666.67 $2,508,609.00 $23,572,379.22 $381,395,557.08 $12,236,725.89 $3,574,645.84 $180,258.50 $2,353,330.60 $7,997,813.22 $13,952,381.45 $223,571.11 $28,889,100.00 $32,839,267,986.46 $43,687,500.00 Total Cash Back2 (CONTINUED) $1,662,874.50 $955,825.50 $200,000,000.00 $200,000,000.00 $2,226,750.00 $20,500,000.00 $300,000,000.00 $3,265,788.00 $3,300,904.00 $2,212,308.00 $3,000,000.00 $1,560,312.00 $7,462,000.00 $6,150,000.00 $6,657,375.00 $26,440,000.00 $25,000,000,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($25,000.00) ($25,000.00) ($128,073.75) Auction Fee4 1,905 1,095 200,000 200,000 9,439 20,500 300,000 93 94 63 3,000 2,400 7,462 12,000 12,990 26,440 7,692,307,692 Number of Shares Disposed $872.90 $872.90 $1,000.00 $1,000.00 $235.91 $1,000.00 $1,000.00 $35,116.00 $35,116.00 $35,116.00 $1,000.00 $650.13 $1,000.00 $512.50 $512.50 $1,000.00 $4.14 Average Price of Shares Disposed ($242,125.50) ($139,174.50) ($7,212,250.00) ($839,688.00) ($5,850,000.00) ($6,332,625.00) ($10,400,000.00) ($2,330,000,000.00) (Realized Loss) / (Write-off) $6,852,354,470.95 Gain5 $114,021.50 $18,500,000.00 $225,157.00 $12,150,120.44 $1,705,802.78 $150,000.00 $53,015.60 $387,028.12 $258,018.75 $400,000.00 $54,621,848.84 $57.56 $6.67 $13.80 $9.25 $6.50 $0.01 $19.88 $41.75 $31.03 Stock Price as of Warrant Sales 3/31/2016 254,218 Current Outstanding Warrants Continued on next page $610,863.55 $23,916,666.67 $281,859.00 $2,847,222.22 $1,751,923.11 $424,645.84 $180,258.50 $765,003.00 $535,813.22 $628,033.33 $223,571.11 $2,049,100.00 $932,291,666.67 $43,687,500.00 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 251 9/12/2013 7/17/2013 1/23/2009 9/11/2012 8/10/2012 8/9/2012 8/8/2012 8/7/2012 5/22/2009 10/1/2013 10/7/2009 1/9/2009 5/12/2010 3/17/2010 11/14/2008 9/22/2011 2/27/2009 9/1/2010 8/11/2010 11/21/2008 6/12/2013 3/26/2013 2/8/2013 2/7/2013 1/9/2009 10/26/2011 3/27/2009 9/12/2013 7/22/2013 7/19/2013 2/13/2009 9/28/2011 8/18/2011 1/9/2009 11/23/2011 9/8/2011 12/19/2008 4/9/2013 3/11/2013 3/8/2013 8/28/2009 6/12/2013 4/10/2013 4/9/2013 3/11/2013 3/8/2013 12/5/2008 Transactions Date Commonwealth Business Bank, Los Angeles, CA8,14 Commonwealth Bancshares, Inc., Louisville, KY14,15 Commerce National Bank, Newport Beach, CA11 Comerica Inc., Dallas, TX11 Columbine Capital Corp., Buena Vista, CO8,14,44 Columbia Banking System, Inc., Tacoma, WA11,16 Colony Bankcorp, Inc., Fitzgerald, GA Colonial American Bank, West Conshohocken, PA8,11,14 ColoEast Bankshares, Inc., Lamar, CO8,14 Codorus Valley Bancorp, Inc., York, PA44 CoBiz Financial Inc., Denver, CO45 CoastalSouth Bancshares, Inc., Hilton Head Island, SC8,17 Coastal Banking Company, Inc., Fernandina Beach, FL82 Institution $7,701,000.00 $20,400,000.00 $5,000,000.00 $2,250,000,000.00 $2,260,000.00 $76,898,000.00 $28,000,000.00 $574,000.00 $10,000,000.00 $16,500,000.00 $64,450,000.00 $16,015,000.00 $9,950,000.00 Investment Amount $8,451,110.79 $21,575,016.54 $5,602,969.61 $2,582,039,543.40 $2,689,478.64 $86,821,419.22 $26,480,089.20 $668,142.53 $10,670,784.03 $19,178,479.00 $73,357,086.72 $14,257,487.71 $11,166,897.79 Total Cash Back2 (CONTINUED) $7,323,651.00 $600,000.00 $13,100,250.00 $1,469,250.00 $130,500.00 $5,000,000.00 $2,250,000,000.00 $2,260,000.00 $76,898,000.00 $265,135.29 $21,633,944.71 $574,000.00 $8,990,505.00 $46,995.00 $16,500,000.00 $64,450,000.00 $12,335,976.50 $397,550.00 $5,730,600.00 $3,772,645.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($73,236.51) ($153,000.00) ($218,990.80) ($90,375.00) ($127,335.27) ($95,032.45) Auction Fee4 7,701 800,000 17,467,000 1,959,000 174,000 5,000 2,250,000 2,260 76,898 339 27,661 574 9,948 52 16,500 64,450 15,515 500 6,000 3,950 Number of Shares Disposed $951.00 $0.75 $0.75 $0.75 $0.75 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $782.11 $782.11 $1,000.00 $903.75 $903.75 $1,000.00 $1,000.00 $795.10 $795.10 $955.10 $955.10 Average Price of Shares Disposed ($377,349.00) ($200,000.00) ($4,366,750.00) ($489,750.00) ($43,500.00) ($73,864.71) ($6,027,055.29) ($957,495.00) ($5,005.00) ($3,179,023.50) ($102,450.00) ($269,400.00) ($177,355.00) (Realized Loss) / (Write-off) Gain5 $99,000.00 $362,427.91 $105,732.00 $792,990.00 $566,858.50 $181,102,043.40 $113,000.00 $3,301,647.00 $810,000.00 $29,000.00 $494,381.25 $526,604.00 $143,677.00 $25,990.47 $389,857.05 $225,647.45 $10.65 $15.86 $37.87 $29.92 $9.19 $20.22 $11.82 $12.40 Stock Price as of Warrant Sales 3/31/2016 Current Outstanding Warrants Continued on next page $838,268.39 $5,529,294.54 $36,111.11 $150,937,500.00 $316,478.64 $6,621,772.22 $3,990,000.00 $65,142.53 $1,229,277.78 $2,151,875.00 $8,763,409.72 $1,235,448.96 $1,434,037.79 Dividend/Interest Paid to Treasury 252 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 3/26/2013 1/11/2013 12/20/2012 12/19/2012 12/23/2008 3/26/2013 1/11/2013 11/30/2012 2/6/2009 7/18/2014 4/14/2014 4/11/2014 2/27/2009 8/18/2011 3/20/2009 3/19/2014 2/10/2014 2/7/2014 4/3/2009 12/21/2012 Community Investors Bancorp, Inc., Bucyrus, OH8,14 Community Holding Company of Florida, Inc./ Community Bancshares of Mississippi, Inc., Brandon, MS8,67 Community First Inc., Columbia, TN8 Community First Bancshares Inc., Union City, TN8,14,44 Community First Bancshares, Inc., Harrison, AR8 Community Financial Shares, Inc., Glen Ellyn, IL8,14,76 5/15/2009 5/28/2015 1/9/2013 Community Financial Corporation/City Holding Company, Staunton, VA81 Community Business Bank, West Sacramento, CA8,14 Community Bankers Trust Corporation, Glen Allen, VA11,101 12/19/2008 1/11/2013 11/30/2012 2/27/2009 6/4/2014 4/23/2014 11/20/2013 7/24/2013 12/19/2008 10/19/2011 9/15/2011 5/29/2009 9/29/2010 Community Bank Shares of Indiana, Inc., New Albany, IN44 Community Bank of the Bay, Oakland, CA9,11,36 1/16/2009 2/11/2015 Community Bancshares, Inc., Kingman, AZ8,17 Community Bancshares of Mississippi, Inc./ Community Bank of Mississippi, Brandon, MS8,11,14 Community Bancshares of Kansas, Inc., Goff, KS8,11,14 Community 1st Bank, Roseville, CA8,11,14 Institution 7/24/2009 9/29/2010 9/11/2009 7/18/2012 3/6/2009 12/19/2012 1/16/2009 Transactions Date $2,600,000.00 $1,050,000.00 $17,806,000.00 $20,000,000.00 $12,725,000.00 $6,970,000.00 $12,643,000.00 $3,976,000.00 $17,680,000.00 $19,468,000.00 $1,747,000.00 $3,872,000.00 $52,000,000.00 $500,000.00 $2,550,000.00 Investment Amount $3,115,616.28 $1,220,300.65 $7,665,362.89 $23,628,111.33 $16,441,884.63 $4,240,743.82 $16,080,204.94 $4,674,050.16 $23,135,879.12 $22,802,281.62 $1,823,188.61 $5,197,157.57 $57,575,699.54 $616,741.75 $2,899,659.67 Total Cash Back2 (CONTINUED) $1,517,150.00 $952,850.00 $1,002,750.00 $4,028,202.50 $1,322,500.50 $20,000,000.00 $8,867,389.75 $3,705,037.50 $3,136,500.00 $12,643,000.00 $3,717,560.00 $10,680,000.00 $2,500,000.00 $4,500,000.00 $19,468,000.00 $1,747,000.00 $3,872,000.00 $52,000,000.00 $500,000.00 $2,550,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($300.00) ($24,700.00) ($14,972.50) ($10,027.50) ($53,507.03) ($125,724.27) ($25,000.00) Auction Fee4 1,597 1,003 105 13,405 4,401 20,000 8,975 3,750 6,970 12,643 3,976 10,680 2,500 4,500 19,468 1,747 3,872 52,000 500 2,550 Number of Shares Disposed $950.00 $950.00 $9,550.00 $300.50 $300.50 $1,000.00 $988.01 $988.01 $450.00 $1,000.00 $935.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 Average Price of Shares Disposed ($79,850.00) ($50,150.00) ($47,250.00) ($9,376,797.50) ($3,078,499.50) ($107,610.25) ($44,962.50) ($3,833,500.00) ($258,440.00) (Realized Loss) / (Write-off) Gain5 $105,000.00 $25,000.00 $387,399.37 $72,314.55 $1,000,000.00 $544,614.34 $85,157.88 $157,050.00 $873,485.00 $167,035.00 $780,000.00 $1,100,869.50 $116,000.00 $2,600,000.00 $25,000.00 $128,000.00 $44.34 $47.78 $13.11 $5.00 $31.32 Stock Price as of Warrant Sales 3/31/2016 Current Outstanding Warrants Continued on next page $565,616.28 $1,908,453.00 $2,628,111.33 $3,365,409.43 $947,193.82 $2,563,719.94 $814,455.16 $4,675,879.12 $2,233,412.12 $76,188.61 $1,209,157.57 $3,193,250.19 $91,741.75 $221,659.67 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 253 10/28/2009 9/2/2009 8/26/2009 12/5/2008 8/6/2015 6/29/2015 3/27/2009 9/12/2013 7/22/2013 7/19/2013 1/23/2009 6/11/2014 2/19/2014 1/9/2009 11/19/2014 1/8/2014 2/20/2009 4/30/2014 6/5/2009 1/11/2013 11/29/2012 11/28/2012 1/30/2009 3/26/2013 1/11/2013 11/30/2012 2/13/2009 1/11/2013 10/31/2012 10/29/2012 1/9/2009 5/27/2015 5/23/2014 2/13/2009 6/12/2013 1/11/2013 12/11/2012 12/10/2012 12/19/2008 7/6/2011 1/9/2009 9/12/2013 8/12/2013 11/13/2009 10/26/2011 8/11/2011 1/30/2009 Transactions Date CVB Financial Corp, Ontario, CA11,16 CSRA Bank Corp., Wrens, GA8 Crosstown Holding Company, Blaine, MN8,14 Crescent Financial Bancshares, Inc. (Crescent Financial Corporation)/ VantageSouth Bancshares, Inc., Raleigh, NC58 Crazy Woman Creek Bancorp, Inc., Buffalo, WY8 Covenant Financial Corporation, Clarksdale, MS8 Country Bank Shares, Inc., Milford, NE8,14 Corning Savings and Loan Association, Corning, AR8,14 Congaree Bancshares, Inc., Cayce, SC8,14 CommunityOne Bancorp/FNB United Corp., Asheboro, NC53,110 Community West Bancshares, Goleta, CA Community Trust Financial Corporation, Ruston, LA8,14,44 Community Pride Bank Corporation, Ham Lake, MN15,17 Community Partners Bancorp, Middletown, NJ44 Institution $130,000,000.00 $2,400,000.00 $10,650,000.00 $24,900,000.00 $3,100,000.00 $5,000,000.00 $7,525,000.00 $638,000.00 $3,285,000.00 $51,500,000.00 $15,600,000.00 $24,000,000.00 $4,400,000.00 $9,000,000.00 Investment Amount $136,046,583.33 $3,210,755.60 $13,498,324.83 $33,014,741.20 $4,225,732.08 $6,594,635.27 $8,781,205.02 $659,705.04 $3,483,629.20 $12,749,591.59 $14,341,140.33 $28,459,100.00 $5,462,045.14 $10,598,750.00 Total Cash Back2 (CONTINUED) $32,500,000.00 $97,500,000.00 $2,400,000.00 $10,117,381.00 $343,794.50 $24,900,000.00 $2,100,000.00 $1,000,000.00 $5,000,000.00 $6,193,989.20 $713,208.30 $548,680.00 $2,687,046.56 $23,932.54 $10,149,929.90 $9,122,400.00 $2,172,000.00 $24,000,000.00 $4,400,000.00 $9,000,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($25,000.00) ($104,611.76) ($69,071.98) ($19,513.20) ($5,486.80) ($25,000.00) ($112,944.00) ($48,849.24) Auction Fee4 32,500 97,500 2,400 10,300 350 24,900 2,100 1,000 5,000 6,748 777 638 3,256 29 1,085,554 12,600 3,000 24,000 4,400,000 9,000 Number of Shares Disposed $1,000.00 $1,000.00 $1,213.75 $982.27 $982.27 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $917.90 $917.90 $860.00 $825.26 $825.26 $9.35 $724.00 $724.00 $1,000.00 $1.11 $1,000.00 Average Price of Shares Disposed ($182,619.00) ($6,205.50) ($554,010.80) ($63,791.70) ($89,320.00) ($568,953.44) ($5,067.46) ($41,350,070.10) ($3,477,600.00) ($828,000.00) (Realized Loss) / (Write-off) $513,000.00 $484,924.00 Gain5 $1,307,000.00 $141,815.60 $531,210.67 $1,681,000.00 $155,000.00 $250,000.00 $372,240.00 $3,960.00 $106,364.00 $10,356.69 $698,351.00 $1,200,000.00 $177,716.96 $460,000.00 $17.45 $23.67 $11.90 $8.10 $11.82 $9.50 Stock Price as of Warrant Sales 3/31/2016 514,693 Current Outstanding Warrants Continued on next page $4,739,583.33 $180,940.00 $2,610,550.42 $11,011,235.28 $970,732.08 $1,344,635.27 $1,570,839.50 $132,065.04 $691,286.10 $2,589,305.00 $2,461,333.33 $3,259,100.00 $448,253.42 $1,138,750.00 Dividend/Interest Paid to Treasury 254 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 6/11/2014 2/19/2014 1/16/2009 5/13/2015 1/6/2014 10/21/2013 10/18/2013 1/9/2009 1/26/2011 12/29/2010 12/5/2008 11/23/2011 7/14/2011 12/23/2009 12/5/2008 4/2/2014 3/5/2014 11/27/2013 6/19/2009 9/21/2011 8/4/2011 1/30/2009 7/7/2010 4/21/2010 3/13/2009 3/26/2013 2/8/2013 2/7/2013 1/16/2009 9/11/2012 8/10/2012 8/9/2012 8/8/2012 5/22/2009 10/29/2013 9/25/2013 ECB Bancorp, Inc/ Crescent Financial Bancshares, Inc. VantageSouth Bancshares, Inc., Engelhard, NC89 Eastern Virginia Bankshares, Inc., Tappahannock, VA East West Bancorp, Pasadena, CA11,16 Eagle Bancorp, Inc., Bethesda, MD12,44 Duke Financial Group, Inc., Minneapolis, MN15 DNB Financial Corporation, Downingtown, PA44 Discover Financial Services, Riverwoods, IL11 Dickinson Financial Corporation II, Kansas City, MO8,14 Diamond Bancorp, Inc., Washington, MO14,15 $17,949,000.00 $24,000,000.00 $306,546,000.00 $38,235,000.00 $12,000,000.00 $11,750,000.00 $1,224,558,000.00 $146,053,000.00 $20,445,000.00 $1,508,000.00 9/24/2013 12/29/2009 DeSoto County Bank, Horn Lake, MS8,18 $9,000,000.00 $2,639,000.00 $19,891,000.00 Investment Amount $1,173,000.00 Delmar Bancorp, Delmar, MD8,14 Deerfield Financial Corporation, Deerfield, WI14,15,44 D.L. Evans Bancorp, Burley, ID8,14,44 Institution 2/13/2009 3/26/2013 2/8/2013 2/7/2013 12/4/2009 9/8/2011 5/15/2009 9/27/2011 2/27/2009 Transactions Date $23,397,494.08 $28,568,653.60 $352,722,420.00 $44,847,153.76 $17,424,285.82 $13,683,277.61 $1,464,248,844.00 $87,459,858.69 $21,101,618.19 $2,781,331.97 $6,598,331.15 $3,283,338.96 $23,686,592.33 Total Cash Back2 (CONTINUED) $17,949,000.00 $20,100,000.00 $3,900,000.00 $306,546,000.00 $23,235,000.00 $15,000,000.00 $5,000,000.00 $2,000,000.00 $5,000,000.00 $11,750,000.00 $1,224,558,000.00 $72,684,793.30 $8,025,555.03 $350,520.00 $10,197,941.25 $4,381,500.00 $1,895,467.59 $301,428.58 $215,462.72 $5,293,527.28 $2,639,000.00 $19,891,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($264,986.40) ($807,103.48) ($149,299.61) ($33,333.34) ($55,089.90) Auction Fee4 17,949 20,100 3,900 306,546 23,235 15,000 5,000,000 2,000,000 5,000,000 11,750 1,224,558 131,530 14,523 480,000 13,965,000 6,000,000 2,315 366 352 8,648 2,639,000 19,891 Number of Shares Disposed $1,000.00 $1,104.11 $1,104.11 $1,000.00 $1,000.00 $1,000.00 $1.00 $1.00 $1.00 $1,000.00 $1,000.00 $552.61 $552.61 $0.73 $0.73 $0.73 $818.78 $823.58 $612.11 $612.11 $1.00 $1,000.00 Average Price of Shares Disposed ($58,845,206.70) ($6,497,444.97) ($129,480.00) ($3,767,058.75) ($1,618,500.00) ($419,532.41) ($64,571.42) ($136,537.28) ($3,354,472.72) (Realized Loss) / (Write-off) $2,092,611.00 $406,029.00 Gain5 $871,000.00 $115,000.00 $14,500,000.00 $2,794,422.00 $600,000.00 $458,000.00 $172,000,000.00 $4,922,044.87 $3,372.19 $91,535.40 $688,041.09 $40,563.34 $311,943.55 $132,000.00 $995,000.00 $6.69 $32.48 $48.00 $28.52 $50.92 Stock Price as of Warrant Sales 3/31/2016 Current Outstanding Warrants Continued on next page $2,220,000.00 $31,676,420.00 $3,817,731.76 $4,824,285.82 $1,475,277.61 $67,690,844.00 $2,631,196.78 $5,541,380.06 $577,205.80 $832,487.50 $512,338.96 $2,800,592.33 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 255 $47,294,527.29 $8,750,000.00 $4,000,000.00 $35,000,000.00 $34,000,000.00 $7,500,000.00 Capital Repayment / Disposition / Auction3,5 7/26/2013 6/24/2013 3/20/2009 7/15/2015 3/6/2009 11/23/2011 9/9/2009 1/9/2009 11/16/2012 9/21/2012 9/20/2012 9/19/2012 2/13/2009 1/11/2013 11/13/2012 11/8/2012 5/22/2009 11/16/2012 9/20/2012 9/19/2012 9/18/2012 2/6/2009 3/26/2013 2/8/2013 2/7/2013 Farmers & Merchants Financial Corporation, Argonia, KS8,14 Farmers & Merchants Bancshares, Inc., Houston, TX8,120 F.N.B. Corporation, Hermitage, PA11 F&M Financial Corporation, Clarksville, TN8,14 F&C Bancorp Inc., Holden, MO14,15 F & M Financial Corporation, Salisbury, NC8,14 $442,000.00 $11,000,000.00 $100,000,000.00 $17,243,000.00 $2,993,000.00 $17,000,000.00 $3,535,000.00 11/6/2009 2/6/2013 1/30/2009 F & M Bancshares, Inc., Trezevant, TN8,14,18 $4,609,000.00 $500,199.14 $15,971,339.07 $104,023,433.33 $17,573,762.97 $3,842,376.65 $20,119,744.45 $9,405,391.28 $425,425.00 $11,000,000.00 $100,000,000.00 $13,421,362.50 $157,500.00 $1,278,999.18 $1,590,599.43 $13,485,250.00 $2,664,750.00 $144,202.50 $2,734,192.50 $4,797,325.00 $10,503,000.00 8/13/2012 9/11/2012 $420,995.25 $8,725,367.25 8/10/2012 8/9/2012 $17,505,000.00 $43,000,000.00 $10,394,872.56 $4,680,205.56 $42,801,933.33 $39,415,959.89 $8,545,904.67 Total Cash Back2 8/8/2012 Exchange Bank, Santa Rosa, CA8,14 $8,750,000.00 $4,000,000.00 $35,000,000.00 $34,000,000.00 $7,500,000.00 Investment Amount $481,387.50 Equity Bancshares, Inc., Wichita, KS8,44,73 Enterprise Financial Services Group, Inc., Allison Park, PA8,14,44 Enterprise Financial Services Corp., St. Louis, MO11 Encore Bancshares Inc., Houston, TX45 Emclaire Financial Corp., Emlenton, PA44 Institution (CONTINUED) 8/3/2012 12/19/2008 8/11/2011 1/30/2009 8/25/2011 6/12/2009 1/9/2013 11/7/2012 12/19/2008 11/23/2011 9/27/2011 12/5/2008 12/7/2011 8/18/2011 12/23/2008 Transactions Date CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($25,000.00) ($135,788.63) ($25,000.00) ($161,500.00) ($76,757.21) ($376,357.50) Auction Fee4 442 11,000 100,000 17,043 200 1,334,000 1,659,000 14,195 2,805 153 2,901 5,090 12,000 481 9,969 20,000 550 8,750 4,000 35,000 34,000 7,500 Number of Shares Disposed $962.50 $1,000.00 $1,000.00 $787.50 $787.50 $0.96 $0.96 $950.00 $950.00 $942.50 $942.50 $942.50 $875.25 $875.25 $875.25 $875.25 $875.25 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 Average Price of Shares Disposed ($16,575.00) ($3,621,637.50) ($42,500.00) ($55,000.82) ($68,400.57) ($709,750.00) ($140,250.00) ($8,797.50) ($166,807.50) ($292,675.00) ($1,497,000.00) ($60,004.75) ($1,243,632.75) ($2,495,000.00) ($68,612.50) (Realized Loss) / (Write-off) Gain5 ($2,835.00) $550,000.00 $690,100.00 $645,975.00 $96,465.60 $125,000.00 $638,460.90 $136,813.05 $222,007.50 $22,930.78 $120,386.57 $1,910,898.00 $438,000.00 $200,000.00 $1,006,100.00 $637,071.00 $51,113.00 $13.01 $21.00 $6.75 $27.04 $25.00 Stock Price as of Warrant Sales 3/31/2016 324,074 Current Outstanding Warrants Continued on next page $102,609.14 $4,421,339.07 $9,632,883.55 $3,388,248.50 $872,778.04 $3,355,970.50 $1,584,420.99 $7,980,919.44 $5,624,635.86 $480,205.56 $6,795,833.33 $4,778,888.89 $994,791.67 Dividend/Interest Paid to Treasury 256 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Farmers State Bankshares, Inc., Holton, KS8,14,45 Farmers Enterprises, Inc., Great Bend, KS14,15 Farmers Capital Bank Corporation, Frankfort, KY Farmers Bank, Windsor, VA8,11 Institution 3/16/2011 2/2/2011 12/31/2008 5/28/2015 7/3/2012 12/19/2008 9/11/2012 8/10/2012 8/9/2012 8/8/2012 8/7/2012 Fifth Third Bancorp, Cincinnati, OH11 Fidelity Southern Corporation, Atlanta, GA $3,408,000,000.00 $48,200,000.00 $4,043,972,602.67 $82,715,982.47 $3,408,000,000.00 $43,408,920.00 $285,203.20 $26,056,877.36 $2,348,470.10 $3,200,514.66 $298,572.10 8/3/2012 $40,966,780.82 $6,218,000.00 $439,000.00 $7,000,000.00 $3,942,000.00 $5,701,813.50 $879,424.60 $9,294,000.00 $26,737.80 $36,282,000.00 $7,220,908.83 $10,634,864.33 $5,404,924.35 $8,441,836.26 $11,156,234.25 $18,874,674.00 $650,000.00 $700,000.00 $11,458,510.00 $96,290.00 $22,196,700.00 $5,689,000.00 $3,063,000.00 Capital Repayment / Disposition / Auction3,5 8/2/2012 Fidelity Financial Corporation, Wichita, KS8,14 $6,657,000.00 $7,000,000.00 $3,942,000.00 $7,289,000.00 $9,294,000.00 $19,836,630.66 $804,592.16 $830,173.67 $15,452,669.34 $27,105,349.50 $11,396,202.11 Total Cash Back2 $120,320.10 Fidelity Federal Bancorp, Evansville, IN8,17 Fidelity Bancorp, Inc./WesBanco, Inc., Pittsburgh, PA77 Fidelity Bancorp, Inc, Baton Rouge, LA11,15,44 FFW Corporation, Wabash, IN8,14 FCB Bancorp, Inc., Louisville, KY8,14,45 $21,042,000.00 $3,035,000.00 $700,000.00 $12,000,000.00 $30,000,000.00 $8,752,000.00 Investment Amount (CONTINUED) 8/1/2012 12/19/2008 9/12/2013 7/22/2013 7/19/2013 11/13/2009 5/6/2015 11/30/2012 12/12/2008 3/27/2013 5/29/2009 1/11/2013 11/30/2012 11/28/2012 12/19/2008 9/22/2011 12/19/2008 3/26/2013 2/20/2013 6/26/2009 3/9/2011 FC Holdings, Inc., Houston, TX8,14 FBHC Holding Company, Boulder, CO15,17 12/29/2009 7/21/2011 3/20/2009 1/11/2013 11/13/2012 11/9/2012 11/8/2012 6/19/2009 7/18/2012 6/19/2012 1/9/2009 12/31/2013 1/9/2013 1/23/2009 Transactions Date CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($651,133.80) ($323,366.95) ($70,490.97) ($65,812.38) ($188,746.74) ($115,548.00) ($332,950.50) Auction Fee4 136,320 48,200 320 29,236 2,635 3,591 335 30 135 6,218 439 7,000 3,942,000 6,315 974 9,294 21,042 3,035,000 700 11,900,000 100,000 30,000 5,689 3,063 Number of Shares Disposed $25,000.00 $900.60 $891.26 $891.26 $891.26 $891.26 $891.26 $891.26 $891.26 $1,058.90 $1,058.90 $1,000.00 $1.00 $902.90 $902.90 $1,000.00 $897.00 $0.21 $1,000.00 $0.96 $0.96 $739.89 $1,000.00 $1,000.00 Average Price of Shares Disposed ($4,791,080.00) ($34,796.80) ($3,179,122.64) ($286,529.90) ($390,485.34) ($36,427.90) ($3,262.20) ($14,679.90) ($613,186.50) ($94,575.40) ($2,167,326.00) ($2,385,000.00) ($441,490.00) ($3,710.00) ($7,803,300.00) (Realized Loss) / (Write-off) $366,240.20 $25,857.10 Gain5 $280,025,936.00 $31,429,313.38 $176,884.89 $1,210,615.36 $167,374.94 $170,227.93 $242,302.50 $2,246,531.00 $197,000.00 $358,558.20 $465,000.00 $994,613.40 $40,000.00 $552,936.00 $37,387.14 $75,000.00 $438,000.00 $16.69 $16.04 $26.42 Stock Price as of Warrant Sales 3/31/2016 Current Outstanding Warrants Continued on next page $355,946,666.67 $8,528,882.89 $7,228,349.33 $1,265,924.35 $1,567,852.34 $1,397,234.25 $156,090.00 $154,592.16 $90,173.67 $3,423,094.20 $5,166,600.00 $2,206,202.11 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 257 $15,000,000.00 $2,395,742.20 $366,469.68 $690,723.49 $3,742,000.00 $5,000,000.00 $25,010,000.00 $12,505,000.00 Capital Repayment / Disposition / Auction3,5 11/23/2011 8/25/2011 3/6/2009 $100,000,000.00 $112,410,898.89 $100,000,000.00 $3,226,801.50 10/29/2013 9/25/2013 First Busey Corporation, Urbana, IL45 $3,209,702.21 9/24/2013 9/12/2013 $87,028,900.00 8/12/2013 $119,071,500.97 $10,000,000.00 $3,345,000.00 $12,171,950.00 $295,400,000.00 $11,941,222.22 $3,960,105.00 $3,675,000.00 $3,675,000.00 8/9/2013 First Banks, Inc., Clayton, MO8 $10,000,000.00 $3,345,000.00 $9,050,516.50 $105,000.00 First Bankers Trustshares, Inc., Quincy, IL8,14,45 First Bank of Charleston, Inc., Charleston, WV8,14,45 $7,350,000.00 8/8/2013 12/31/2008 9/8/2011 1/16/2009 7/21/2011 2/6/2009 10/24/2012 1/18/2012 2/20/2009 First BancTrust Corporation, Paris, IL8,11,14 $8,514,153.00 $81,000,000.00 $65,000,000.00 $29,708,351.90 $174,125,772.24 $74,518,906.44 3/6/2015 $400,000,000.00 $65,000,000.00 $22,063,492.11 First BanCorp, San Juan, PR34,118,121 First Bancorp, Troy, NC45 $18,204,166.78 $17,000,000.00 $17,000,000.00 First American International Corp., Brooklyn, NY9,11,36 $65,558,530.56 $3,003,674.75 $1,289,436.37 $4,487,322.46 $5,914,597.33 $43,787,611.61 Total Cash Back2 $35,000,000.00 $50,000,000.00 $3,422,000.00 $1,177,000.00 $3,742,000.00 $5,000,000.00 $37,515,000.00 Investment Amount First American Bank Corporation, Elk Grove Village, IL11,14,15 First Alliance Bancshares, Inc., Cordova, TN8,14 First Advantage Bancshares Inc., Coon Rapids, MN8,14 Financial Services of Winger, Inc., Winger, MN15,17,44 Financial Security Corporation, Basin, WY8,14,45 Financial Institutions, Inc., Warsaw, NY11 Institution (CONTINUED) 12/5/2014 9/13/2013 8/16/2013 1/16/2009 11/23/2011 9/1/2011 1/9/2009 8/13/2010 3/13/2009 12/11/2012 12/21/2011 7/24/2009 3/26/2013 1/11/2013 12/20/2012 6/26/2009 3/26/2013 1/11/2013 12/11/2012 12/10/2012 5/22/2009 9/1/2011 7/31/2009 7/21/2011 2/13/2009 5/11/2011 3/30/2011 2/23/2011 12/23/2008 Transactions Date CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($64,365.04) ($993,058.50) ($85,000.00) ($74,611.09) ($1,042.58) ($23,957.42) ($14,428.07) ($10,571.93) Auction Fee4 100,000 5,850 5,819 248,654 34,777 300 10,000 3,345 3,675 3,675 5,000,000 4,388,888 1,261,356 12,000,000 65,000 17,000 35,000,000 15,000,000 3,422 408 769 3,742,000 5,000 5,002 2,501 Number of Shares Disposed $1,000.00 $551.59 $551.59 $350.00 $350.00 $350.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $5.94 $5.03 $6.75 $6.75 $1,000.00 $1,000.00 $1.00 $1.00 $700.10 $898.21 $898.21 $1.00 $1,000.00 $5,000.00 $5,000.00 Average Price of Shares Disposed ($2,623,198.50) ($2,609,297.79) ($161,625,100.00) ($22,605,050.00) ($195,000.00) ($31,004,790.15) ($31,229,144.01) ($6,802,024.20) ($64,711,540.92) ($1,026,257.80) ($41,530.32) ($78,276.51) (Realized Loss) / (Write-off) Gain5 $63,677.00 $5,919,151.59 $2,430,181.71 $500,000.00 $167,000.00 $368,000.00 $924,462.00 $2,500,000.00 $94,701.71 $26,318.80 $2,979.49 $112,000.00 $250,000.00 $2,079,962.50 $20.48 $24.50 $17.10 $2.92 $18.85 $29.07 Stock Price as of Warrant Sales 3/31/2016 389,484 616,308 Current Outstanding Warrants Continued on next page $12,347,221.89 $6,037,237.50 $1,441,222.22 $448,105.00 $1,332,516.50 $32,999,386.32 $8,594,444.44 $1,204,166.78 $13,058,530.56 $538,230.84 $227,944.91 $633,322.46 $664,597.33 $4,192,649.11 Dividend/Interest Paid to Treasury 258 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 $22,000,000.00 $18,252,479.06 $13,425,979.36 $8,499,249.92 $19,957,763.30 $42,839,002.78 $5,339,487.75 $25,245,684.71 $5,446,642.94 $11,956,712.44 $28,810,847.55 $4,693,275.61 Total Cash Back2 $326,250.00 $11,155,120.50 $7,754,267.48 $14,800,000.00 $41,500,000.00 $4,500,000.00 $21,004,704.00 $5,036,000.00 $10,082,565.38 $25,000,000.00 $2,510,399.84 $1,373,084.00 Capital Repayment / Disposition / Auction3,5 ($143,550.00) ($167,326.81) ($315,070.56) ($151,238.48) ($33,333.33) Auction Fee4 500 11,350 10,685 14,800 41,500 4,500 23,184 5,036 10,958 25,000 2,743 1,500 Number of Shares Disposed $652.50 $982.83 $725.72 $1,000.00 $1,000.00 $1,000.00 $906.00 $1,000.00 $920.11 $1,000.00 $915.20 $915.39 Average Price of Shares Disposed ($173,750.00) ($194,879.50) ($2,930,732.52) ($2,179,296.00) ($875,434.62) ($232,600.16) ($126,916.00) (Realized Loss) / (Write-off) Gain5 $297,500.00 $740,000.00 $30,600.00 $225,000.00 $563,174.00 $110,000.00 $266,041.78 $599,042.00 $90,461.65 12/5/2008 2/15/2012 2/6/2009 9/17/2010 9/11/2009 3/11/2015 6/19/2012 First Express of Nebraska, Inc., Gering, NE8,11,14 First Eagle Bancshares, Inc., Hanover Park, IL11,15,36 First Defiance Financial Corp., Defiance, OH $5,000,000.00 $7,500,000.00 $37,000,000.00 $6,074,313.00 $8,514,738.21 $53,610,300.92 $5,000,000.00 $7,500,000.00 $35,618,420.00 9/21/2012 11/16/2012 $3,051,090.00 $10,977,660.00 9/20/2012 9/19/2012 8/10/2012 ($534,276.30) 4,676 5,000 7,500,000 37,000 16,824 $1,000.00 $1.00 $962.66 $652.50 $652.50 ($1,381,580.00) ($5,846,340.00) ($1,624,910.00) $250,000.00 $375,000.00 $11,979,295.00 $209,563.20 $440,082.72 $38.41 $14.42 $19.84 $10.31 $6.67 $37.15 Stock Price as of Warrant Sales 3/31/2016 8/9/2012 First Community Financial Partners, Inc., Joliet, IL8 $11,350,000.00 $10,685,000.00 $14,800,000.00 $41,500,000.00 $4,500,000.00 $23,184,000.00 $2,836,000.00 $2,200,000.00 $10,958,000.00 $25,000,000.00 $2,032,000.00 $2,211,000.00 Investment Amount $70,727.58 First Community Corporation, Lexington, SC First Community Bank Corporation of America, Pinellas Park, FL First Commuity Bancshares, Inc./ Equity Bancshares, Inc., Wichita, KS8,72 First Community Bancshares Inc., Bluefield, VA12 First Colebrook Bancorp, Inc., Colebrook, NH8,14,44 First Citizens Banc Corp, Sandusky, OH First Choice Bank, Cerritos, CA8,11,14,18,36 First Capital Bancorp, Inc., Glen Allen, VA First California Financial Group, Inc, Westlake Village, CA45 First Business Bank, National Association/ Bank of Southern California, N.A. San Diego, CA8,14,18 Institution (CONTINUED) 8/8/2012 12/11/2009 11/1/2012 8/29/2012 11/21/2008 5/31/2011 12/23/2008 7/16/2014 5/15/2009 11/22/2011 7/8/2009 11/21/2008 9/22/2011 3/20/2009 9/5/2012 7/3/2012 1/23/2009 9/24/2010 12/22/2009 2/13/2009 2/6/2013 6/19/2012 4/3/2009 8/24/2011 7/14/2011 12/19/2008 1/11/2013 12/20/2012 12/19/2012 12/11/2009 4/10/2009 Transactions Date CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 469,312 250,947 Current Outstanding Warrants Continued on next page $824,313.00 $639,738.21 $6,546,862.22 $3,320,655.56 $2,140,685.67 $744,982.44 $1,308,402.78 $614,487.75 $3,992,877.27 $300,642.94 $1,759,343.76 $3,211,805.55 $752,663.45 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 259 9/15/2011 2/13/2009 12/7/2011 2/6/2009 5/27/2009 1/16/2009 8/30/2013 9/29/2010 2/27/2009 4/7/2010 12/12/2008 9/12/2013 8/12/2013 3/13/2009 3/26/2013 1/11/2013 12/20/2012 8/28/2009 3/9/2011 12/22/2010 11/14/2008 9/22/2011 8/28/2009 1/11/2013 10/31/2012 10/29/2012 2/27/2009 1/11/2013 11/9/2012 12/22/2009 7/1/2015 5/31/2013 4/29/2013 1/9/2009 5/22/2013 4/3/2012 12/5/2008 9/22/2011 6/12/2009 6/8/2010 2/24/2010 12/23/2008 5/3/2011 3/6/2009 Transactions Date First Menasha Bancshares, Inc., Neenah, WI8,14,44 First Market Bank, FSB/ Union First Market Bankshares Corporation, Richmond, VA11,25 First Manitowoc Bancorp, Inc., Manitowoc, WI8,11,14 First M&F Corporation, Kosciusko, MS11,36 First Litchfield Financial Corporation, Litchfield, CT11 First Intercontinental Bank, Doraville, GA8 First Independence Corporation, Detroit, MI8,9 First Horizon National Corporation, Memphis, TN11 First Guaranty Bancshares, Inc., Hammond, LA8,14,44 First Gothenburg Bancshares, Inc., Gothenburg, NE8,14 First Freedom Bancshares, Inc., Lebanon, TN9,17 First Financial Service Corporation, Elizabethtown, KY First Financial Holdings Inc., Charleston, SC First Financial Bancshares, Inc., Lawrence, KS15,17,44 First Financial Bancorp, Cincinnati, OH12,16 First Federal Bancshares of Arkansas, Inc., Harrison, AR Institution $4,797,000.00 $33,900,000.00 $12,000,000.00 $30,000,000.00 $10,000,000.00 $6,398,000.00 $3,223,000.00 $866,540,000.00 $20,699,000.00 $7,570,000.00 $8,700,000.00 $20,000,000.00 $65,000,000.00 $3,756,000.00 $80,000,000.00 $16,500,000.00 Investment Amount $5,713,865.00 $40,834,859.35 $12,837,983.33 $36,472,843.94 $12,147,768.63 $4,118,886.85 $2,820,256.96 $1,037,467,405.56 $24,059,476.66 $8,702,021.25 $9,522,346.17 $12,336,278.00 $68,141,972.19 $4,563,280.34 $87,644,066.10 $6,570,625.00 Total Cash Back2 (CONTINUED) $4,797,000.00 $33,900,000.00 $12,000,000.00 $30,000,000.00 $10,000,000.00 $3,247,112.96 $2,336,675.00 $866,540,000.00 $20,699,000.00 $6,864,647.71 $26,398.99 $8,025,750.00 $10,842,200.00 $56,778,150.00 $3,756,000.00 $80,000,000.00 $6,000,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($25,000.00) ($26,633.25) ($23,366.75) ($68,910.46) ($80,257.50) ($108,422.00) ($851,672.25) Auction Fee4 4,797 35,595 12,000 30,000 10,000 6,398 3,223 866,540 2,070 7,541 29 8,700 20,000 65,000 3,756,000 80,000 16,500 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $507.52 $725.00 $1,000.00 $10,000.00 $910.31 $910.31 $922.50 $542.11 $873.51 $1.00 $1,000.00 $363.64 Average Price of Shares Disposed ($3,150,887.04) ($886,325.00) ($676,352.29) ($2,601.01) ($674,250.00) ($9,157,800.00) ($8,221,850.00) ($10,500,000.00) (Realized Loss) / (Write-off) $1,695,000.00 Gain5 $240,000.00 $600,000.00 $4,089,510.61 $1,488,046.41 $139,320.00 $79,700,000.00 $1,030,000.00 $362,118.92 $256,118.75 $2,500.00 $1,400,000.00 $113,000.00 $2,966,288.32 $32.91 $13.10 $31.32 $18.18 $9.27 Stock Price as of Warrant Sales 3/31/2016 Current Outstanding Warrants Continued on next page $676,865.00 $237,983.33 $2,383,333.33 $659,722.22 $757,453.89 $533,581.96 $91,227,405.56 $2,330,476.66 $1,517,766.09 $1,320,734.92 $1,600,000.00 $10,815,494.44 $694,280.34 $4,677,777.78 $570,625.00 Dividend/Interest Paid to Treasury 260 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 9/15/2011 3/6/2009 4/9/2013 3/28/2013 3/27/2013 3/26/2013 3/6/2009 6/16/2010 1/30/2009 11/28/2012 9/28/2011 7/17/2009 2/20/2013 12/23/2008 4/11/2013 1/9/2009 9/15/2011 12/11/2009 1/30/2009 4/9/2013 3/11/2013 3/6/2009 3/26/2013 2/8/2013 First Texas BHC, Inc., Fort Worth, TX8,14,44 First Southwest Bancorporation, Inc., Alamosa, CO8,14 First Southern Bancorp, Inc., Boca Raton, FL8,11,14 First South Bancorp, Inc., Lexington, TN11,14,15 First Sound Bank, Seattle, WA79 First Security Group, Inc., Chattanooga, TN87 First Resource Bank, Exton, PA8,14,18,44,45 First Reliance Bancshares, Inc., Florence, SC8,14 $13,533,000.00 $5,500,000.00 $10,900,000.00 $50,000,000.00 $7,400,000.00 $33,000,000.00 $2,417,000.00 $2,600,000.00 $15,349,000.00 $4,596,000.00 2/7/2013 $4,579,000.00 First Priority Financial Corp., Malvern, PA8,14,18 $72,927,000.00 $19,300,000.00 $17,390,000.00 12/18/2009 First Place Financial Corp., Warren, OH73,97 First PacTrust Bancorp, Inc., Chula Vista, CA11 First Northern Community Bancorp, Dixon, CA44 $184,011,000.00 $17,836,000.00 $13,900,000.00 $193,000,000.00 $116,000,000.00 Investment Amount 2/20/2009 10/29/2012 3/13/2009 1/5/2011 12/15/2010 11/21/2008 11/16/2011 9/15/2011 3/13/2009 6/24/2009 5/27/2009 11/21/2008 First Niagara Financial Group, Lockport, NY12,16 First NBC Bank Holding Company, New Orleans, LA8,14,44 3/20/2009 8/4/2011 8/29/2012 First National Corporation, Strasburg, VA8,14 First Midwest Bancorp, Inc., Itasca, IL11 First Merchants Corporation, Muncie, IN33,44,45 Institution 3/13/2009 12/21/2011 11/23/2011 12/5/2008 11/23/2011 9/22/2011 2/20/2009 Transactions Date $16,072,389.00 $5,359,772.59 $12,263,468.31 $65,432,450.94 $4,030,944.44 $16,315,362.00 $5,731,793.60 $12,994,059.00 $9,948,069.58 $7,009,094.50 $22,297,560.34 $19,943,580.33 $191,464,618.00 $21,033,989.56 $15,329,326.44 $222,528,333.33 $131,383,055.11 Total Cash Back2 (CONTINUED) $13,533,000.00 $1,800,040.00 $2,835,063.00 $315,007.00 $10,900,000.00 $36,875,000.00 $13,125,000.00 $3,700,000.00 $14,912,862.00 $5,017,000.00 $10,431,333.89 $1,410,831.60 $6,682,192.50 $19,300,000.00 $17,390,000.00 $184,011,000.00 $17,836,000.00 $12,266,750.00 $193,000,000.00 $116,000,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($49,501.10) ($104,313.34) ($80,930.24) ($184,001.25) Auction Fee4 13,533 2,000 3,150 350 10,900 36,875,000 13,125,000 7,400 9,941,908 5,017 15,349 1,600 7,575 19,300 17,390 184,011 17,836 13,900 193,000 116,000 Number of Shares Disposed $1,000.00 $900.02 $900.02 $900.02 $1,000.00 $1.00 $1.00 $500.00 $1.50 $1,000.00 $679.61 $881.77 $882.14 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $882.50 $1,000.00 $1,000.00 Average Price of Shares Disposed ($199,960.00) ($314,937.00) ($34,993.00) ($3,700,000.00) ($18,087,138.00) ($4,917,666.11) ($189,168.40) ($892,807.50) ($72,927,000.00) ($1,633,250.00) (Realized Loss) / (Write-off) Gain5 $677,000.00 $45,788.48 $206,048.21 $545,000.00 $2,500,000.00 $130,000.00 $624,632.45 $176,633.62 $48,083.60 $1,003,227.00 $375,000.00 $2,700,000.00 $892,000.00 $624,674.69 $900,000.00 $367,500.00 $0.06 $13.94 $4.40 $18.09 $17.50 $7.72 $9.68 $8.91 $18.02 $23.57 Stock Price as of Warrant Sales 3/31/2016 114,080 Current Outstanding Warrants Continued on next page $1,862,389.00 $207,327.00 $818,468.31 $12,932,450.94 $330,944.44 $1,402,500.00 $584,793.60 $2,042,406.00 $1,711,258.50 $7,009,094.50 $1,994,333.34 $2,178,580.33 $4,753,618.00 $2,305,989.56 $2,621,903.00 $28,628,333.33 $15,015,555.11 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 261 $125,000,000.00 $31,053,330.00 $10,994,240.00 $62,000.00 $6,138,000.00 $6,000,000.00 $22,200,000.00 $7,800,000.00 $4,900,000.00 $13,750,058.49 Capital Repayment / Disposition / Auction3,5 $3,100,000.00 Fortune Financial Corporation, Arnold, MO8,14,45 9/15/2011 4/3/2009 $1,300,000.00 $15,000,000.00 $12,000,000.00 $70,000,000.00 $9,495,000.00 $20,471,000.00 Fort Lee Federal Savings Bank, Fort Lee, NJ8,66,97 Foresight Financial Group, Inc., Rockford, IL8,11,14 FNB Bancorp, South San Francisco, CA8,14,45 Flushing Financial Corporation, Lake Success, NY12,16 Florida Business BancGroup, Inc., Tampa, FL8,14,44 Florida Bank Group, Inc., Tampa, FL8,84 4/20/2012 5/22/2009 12/11/2012 5/15/2009 9/15/2011 2/27/2009 12/30/2009 10/28/2009 12/19/2008 9/22/2011 2/20/2009 8/14/2013 7/24/2009 6/12/2013 4/9/2013 3/28/2013 $3,668,927.67 $87,184.85 $18,670,291.67 $14,267,700.00 $73,904,166.66 $11,309,750.50 $9,180,793.08 $3,100,000.00 $15,000,000.00 $12,000,000.00 $70,000,000.00 $9,495,000.00 $8,000,000.00 $13,216,750.00 $228,401,847.00 Flagstar Bancorp, Inc., Troy, MI $277,861,053.94 $131,813,194.44 $38,185,560.05 $21,142,314.80 $6,662,770.42 $40,183,721.33 $5,211,020.69 $15,304,180.50 Total Cash Back2 3/27/2013 $266,657,000.00 $125,000,000.00 $33,000,000.00 $11,881,000.00 $8,559,000.00 $6,000,000.00 $30,000,000.00 $4,900,000.00 $17,969,000.00 Investment Amount $1,439,258.50 FirstMerit Corporation, Akron, OH11 Firstbank Corporation, Alma, MI First Western Financial, Inc., Denver, CO8,14,18 First Vernon Bancshares, Inc., Vernon, AL8,11,14,36 First United Corporation, Oakland, MD First ULB Corp., Oakland, CA8,11,14 First Trust Corporation, New Orleans, LA14,15 Institution (CONTINUED) 3/26/2013 1/30/2009 5/27/2009 4/22/2009 1/9/2009 7/18/2012 7/3/2012 1/30/2009 7/26/2013 6/24/2013 9/11/2012 8/10/2012 8/9/2012 12/11/2009 2/6/2009 9/29/2010 6/12/2009 5/27/2015 1/9/2015 12/4/2014 12/3/2014 1/30/2009 4/22/2009 1/23/2009 3/26/2013 2/20/2013 6/5/2009 Transactions Date CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($2,430,578.56) ($465,799.95) ($109,942.41) ($62,000.00) ($300,603.00) ($137,500.58) Auction Fee4 3,100 15,000 12,000 70,000 9,495 20,471 14,500 250,578 1,579 125,000 33,000 12,440 80 7,920 6,000 22,200 7,800 4,900 17,969,000 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $390.80 $911.50 $911.50 $911.50 $1,000.00 $941.01 $883.78 $775.00 $775.00 $1,000.00 $1,002.01 $1,002.01 $1,000.00 $0.77 Average Price of Shares Disposed ($1,300,000.00) ($12,471,000.00) ($1,283,250.00) ($22,176,153.00) ($139,741.50) ($1,946,670.00) ($1,445,760.00) ($18,000.00) ($1,782,000.00) ($4,218,941.51) (Realized Loss) / (Write-off) $44,622.00 $15,678.00 Gain5 $155,000.00 $750,000.00 $600,000.00 $900,000.00 $475,000.00 $12,905.00 $5,025,000.00 $1,946,670.00 $39,370.32 $311,681.70 $245,000.00 $117,162.42 $245,000.00 $644,726.19 $24.74 $29.01 $21.62 $21.46 $21.05 $22.42 $10.95 Stock Price as of Warrant Sales 3/31/2016 2,408,203 326,323 Current Outstanding Warrants Continued on next page $413,927.67 $87,184.85 $2,920,291.67 $1,667,700.00 $3,004,166.66 $1,339,750.50 $1,180,793.08 $37,220,872.00 $71,033,631.08 $5,651,360.00 $3,768,965.19 $417,770.42 $10,306,861.91 $66,020.69 $1,046,896.40 Dividend/Interest Paid to Treasury 262 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 $376,500,000.00 $3,000,000.00 $1,968,000.00 $35,000,000.00 $3,000,000.00 $5,097,000.00 $3,240,000.00 $5,800,000.00 Investment Amount $6,000,000.00 Fulton Financial Corporation, Lancaster, PA11 Frontier Bancshares, Inc., Austin, TX11,14,15 Fresno First Bank, Fresno, CA8,14,44 Fremont Bancorporation, Fremont, CA11,14,15 Freeport Bancshares, Inc., Freeport, IL15 Franklin Bancorp, Inc., Washington, MO8,14 FPB Financial Corp., Hammond, LA8,11,14 FPB Bancorp, Inc., Port St. Lucie, FL50,97 Institution $2,443,320.00 $3,076,000.00 Grand Financial Corporation, Hattiesburg, MS15 Grand Mountain Bancshares, Inc., Granby, CO8 9/25/2009 5/29/2009 7/8/2015 $4,000,000.00 Grand Capital Corporation, Tulsa, OK8,14,44 9/8/2011 9/21/2015 4/24/2009 $2,568,000.00 $10,000,000,000.00 $1,607,000.00 $4,967,000.00 Goldwater Bank, N.A., Scottsdale, AZ8,127 Goldmans Sachs Group, Inc. New York, NY11 Gold Canyon Bank, Gold Canyon, AZ8,17,91,97 Germantown Capital Corporation, Inc., Germantown, TN8,14 $4,500,000.00 1/30/2009 7/22/2009 6/17/2009 10/28/2008 4/5/2013 6/26/2009 1/11/2013 10/31/2012 10/29/2012 3/6/2009 3/19/2014 2/10/2014 5/1/2009 Georgia Primary Bank, Atlanta, GA8 $8,700,000.00 Georgia Commerce Bancshares, Inc., Atlanta, GA8,11,14 2/16/2011 2/6/2009 Gateway Bancshares, Inc., Ringgold, GA8,14 4/13/2012 5/8/2009 9/8/2010 7/14/2010 12/23/2008 10/6/2010 11/24/2009 4/24/2009 11/1/2012 1/23/2009 7/25/2012 6/26/2009 7/18/2014 4/14/2014 4/11/2014 5/8/2009 1/11/2013 11/13/2012 11/9/2012 5/22/2009 6/16/2010 12/16/2009 1/23/2009 7/15/2011 12/5/2008 Transactions Date $0.00 $3,868,471.61 $4,717,144.78 $1,493,750.00 $11,418,055,555.44 $53,859.52 $5,699,100.75 $1,576,457.50 $10,096,470.83 $7,260,794.87 $416,635,625.00 $3,408,191.65 $2,437,100.33 $45,796,066.36 $4,363,022.95 $4,336,183.67 $3,623,721.50 $273,888.89 Total Cash Back2 (CONTINUED) $2,443,320.00 $4,000,000.00 $1,348,000.00 $10,000,000,000.00 $4,494,221.94 $26,393.77 $1,556,145.00 $8,700,000.00 $6,000,000.00 $376,500,000.00 $1,400,000.00 $1,600,000.00 $1,968,000.00 $35,000,000.00 $200,000.00 $2,800,000.00 $2,629,302.50 $594,550.00 $2,240,000.00 $1,000,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($25,000.00) ($25,000.00) ($25,000.00) ($25,000.00) Auction Fee4 2,443,320 4,000 2,568 10,000,000 4,938 29 4,500 8,700 6,000 376,500 1,400,000 1,600,000 1,968 35,000,000 200,000 2,800,000 4,157 940 2,240 1,000 Number of Shares Disposed $1.00 $1,000.00 $524.92 $1,000.00 $910.13 $910.13 $345.81 $1,000.00 $1,000.00 $1,000.00 $1.00 $1.00 $1,000.00 $1.00 $1.01 $1.01 $632.50 $632.50 $1,000.00 $1,000.00 Average Price of Shares Disposed ($1,220,000.00) ($1,607,000.00) ($443,778.06) ($2,606.23) ($2,943,855.00) ($1,527,697.50) ($345,450.00) ($5,800,000.00) (Realized Loss) / (Write-off) $1,302.00 $18,228.00 Gain5 $122,000.00 $200,000.00 $1,100,000,000.00 $214,595.28 $45,312.50 $435,000.00 $300,000.00 $10,800,000.00 $150,000.00 $98,000.00 $1,750,000.00 $42,257.17 $84,514.33 $45,188.88 $126,798.62 $162,000.00 $156.98 $13.38 Stock Price as of Warrant Sales 3/31/2016 Current Outstanding Warrants Continued on next page $1,303,151.61 $517,144.78 $145,750.00 $318,055,555.44 $53,859.52 $988,889.76 $961,470.83 $960,794.87 $29,335,625.00 $258,191.65 $371,100.33 $9,046,066.36 $1,241,721.45 $965,343.67 $221,721.50 $273,888.89 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 263 12/29/2010 3/13/2009 7/17/2009 4/14/2014 12/31/2008 4/13/2011 2/20/2009 8/18/2011 6/26/2009 10/19/2012 9/25/2009 5/31/2013 5/15/2013 4/29/2013 4/26/2013 6/13/2012 1/30/2009 $80,347,000.00 $6,800,000.00 $425,000.00 Harbor Bankshares Corporation, Baltimore, MD8,9 Haviland Bancshares, Inc., Haviland, KS8,11,14 $7,000,000.00 $7,500,000.00 $7,500,000.00 $17,000,000.00 $14,000,000.00 $6,920,000.00 $825,000.00 $9,993,000.00 $651,000.00 $2,400,000.00 $72,278,000.00 $58,000,000.00 $8,400,000.00 $6,319,000.00 $9,000,000.00 Investment Amount Hampton Roads Bankshares, Inc., Norfolk, VA38 Hamilton State Bancshares, Hoschton, GA8,11,14 Gulfstream Bancshares, Inc., Stuart, FL8,14,45 GulfSouth Private Bank, Destin, FL17,28,70,97 Guaranty Federal Bancshares, Inc., Springfield, MO11 Guaranty Capital Corporation, Belzoni, MS9,15,36 7/30/2010 9/25/2009 Guaranty Bancorp, Inc., Woodsville, NH8,14,45 Gregg Bancshares, Inc., Ozark, MO8,68,97 Greer Bancshares Incorporated, Greer, SC8 Green City Bancshares, Inc., Green City, MO8,11,14 Green Circle Investments, Inc., Clive, IA8,11,14 Green Bankshares, Inc., Greeneville, TN Great Southern Bancorp, Springfield, MO45 Great River Holding Company, Baxter, MN15 GrandSouth Bancorporation, Greenville, SC8,14,18,44 Institution 9/15/2011 2/20/2009 7/13/2012 2/13/2009 7/23/2014 6/11/2014 3/19/2014 1/30/2009 7/14/2010 2/27/2009 4/24/2013 1/23/2013 11/14/2012 2/27/2009 9/7/2011 12/23/2008 9/21/2011 8/18/2011 12/5/2008 7/18/2014 4/14/2014 4/11/2014 7/17/2009 9/8/2011 12/11/2009 1/9/2009 Transactions Date $487,524.22 $282,744.47 $5,790,608.79 $8,169,165.89 $8,751,541.63 $757,380.08 $21,887,871.44 $14,913,299.33 $8,235,040.33 $45,190.00 $13,693,111.07 $733,037.33 $3,036,021.12 $74,642,857.78 $72,274,419.56 $11,306,571.15 $17,625,917.08 Total Cash Back2 (CONTINUED) $425,000.00 $3,279,764.54 $7,000,000.00 $7,500,000.00 $11,513,250.00 $96,750.00 $5,000,000.00 $14,000,000.00 $6,920,000.00 $4,863,000.00 $1,980,000.00 $3,150,000.00 $651,000.00 $800,000.00 $800,000.00 $800,000.00 $68,700,000.00 $58,000,000.00 $3,600,000.00 $4,800,000.00 $15,319,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($116,100.00) ($100,212.00) Auction Fee4 425 2,089,022 280 7,500 11,900 100 5,000 14,000,000 6,920 4,863 1,980 3,150 651 800 800 800 72,278 58,000 3,600,000 4,800,000 15,319 Number of Shares Disposed $1,000.00 $1.57 $25,000.00 $1,000.00 $967.50 $967.50 $1,000.00 $1.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $950.50 $1,000.00 $1.19 $1.19 $1,000.00 Average Price of Shares Disposed ($77,067,235.46) ($7,500,000.00) ($386,750.00) ($3,250.00) ($825,000.00) ($3,578,000.00) (Realized Loss) / (Write-off) $694,800.00 $926,400.00 Gain5 $21,000.00 $350,000.00 $375,000.00 $2,003,250.00 $346,000.00 $500,000.00 $33,000.00 $120,000.00 $6,436,364.00 $626,007.69 $450,000.00 $1.77 $14.97 $10.45 $37.13 $12.63 Stock Price as of Warrant Sales 3/31/2016 757,633 Current Outstanding Warrants Continued on next page $41,524.22 $282,744.47 $2,510,844.25 $819,165.89 $876,541.63 $757,380.08 $3,390,721.44 $913,299.33 $969,040.33 $45,190.00 $3,200,111.07 $49,037.33 $516,021.12 $5,942,857.78 $7,838,055.56 $759,575.46 $1,856,917.08 Dividend/Interest Paid to Treasury 264 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 ($187,590.00) Auction Fee4 ($988,675.00) ($1,152,400.00) (Realized Loss) / (Write-off) Gain5 $200,000.00 $155,000.00 $650,000.00 $1,575,000.00 $450,000.00 $140,000.00 $303,000.00 $1,800,000.00 $248,000.00 $540,000.00 8/28/2013 2/20/2009 7/27/2011 7/6/2011 1/16/2009 Hometown Bancorp of Alabama, Inc., Oneonta, AL8 $3,250,000.00 $50,000,000.00 $4,214,202.31 $57,480,555.56 $50,000,000.00 50,000 $1,000.00 $3,250,000.00 3,250 $1,000.00 $163,000.00 $1,300,000.00 $3,686,388.00 ($6,252,325.00) $40.95 $11.26 $7.24 $18.00 $7.79 $17.57 $10.01 $21.00 $30.79 $0.16 $14.75 Stock Price as of Warrant Sales 3/31/2016 5/28/2015 Home Bancshares, Inc., Conway, AR11 $721.50 $721.50 $1,000.00 $828.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 Average Price of Shares Disposed 5/26/2015 3/26/2013 22,450 3,550 4,000 6,700 5,450 25,000 21,000 24,000 40,000 7,497 2,606 81,698 7,000 18,255 12,000 Number of Shares Disposed $1,843,194.00 $26,563,769.78 $4,000,000.00 $5,547,600.00 $5,450,000.00 $25,000,000.00 $21,000,000.00 $24,000,000.00 $40,000,000.00 $7,497,000.00 $2,606,000.00 $81,698,000.00 $7,000,000.00 $18,255,000.00 $12,000,000.00 Capital Repayment / Disposition / Auction3,5 $16,197,675.00 $26,000,000.00 $4,467,049.67 $6,165,312.00 $6,211,926.79 $26,316,666.67 $27,241,335.26 $26,953,333.33 $46,901,266.80 $11,353,284.46 $94,686,087.22 $8,321,471.08 $1,090,702.00 $36,849,504.67 Total Cash Back2 $2,561,325.00 $4,000,000.00 $6,700,000.00 $2,359,000.00 $3,091,000.00 $25,000,000.00 $21,000,000.00 $24,000,000.00 $40,000,000.00 $10,103,000.00 $81,698,000.00 $7,000,000.00 $12,895,000.00 $30,255,000.00 Investment Amount 2/8/2013 HMN Financial, Inc., Rochester, MN Hilltop Community Bancorp, Inc., Summit, NJ8,11,14 Highlands Independent Bancshares, Inc., Sebring, FL8,111 Highlands Bancorp, Inc. (Highlands State Bank), Vernon, NJ8,18,21,44 HF Financial Corp., Sioux Falls, SD11 Heritage Oaks Bancorp, Paso Robles, CA11 Heritage Financial Corporation, Olympia, WA11,16 Heritage Commerce Corp., San Jose, CA11 Heritage Bankshares, Inc., Norfolk, VA8,17,45 Heartland Financial USA, Inc., Dubuque, IA45 Heartland Bancshares, Inc., Franklin, IN8,17 HCSB Financial Corporation, Loris, SC Hawthorne Bancshares, Inc., Lee’s Summit, MO11 Institution (CONTINUED) 2/7/2013 12/23/2008 4/21/2010 1/30/2009 10/24/2014 3/6/2009 9/22/2011 12/22/2009 5/8/2009 6/30/2009 6/3/2009 11/21/2008 8/7/2013 7/17/2013 3/20/2009 8/17/2011 12/22/2010 11/21/2008 6/10/2013 3/7/2012 11/21/2008 8/11/2011 3/16/2011 9/25/2009 9/28/2011 9/15/2011 12/19/2008 7/17/2012 9/11/2009 3/6/2009 6/12/2013 5/15/2013 5/9/2012 12/19/2008 Transactions Date CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 91,714 Current Outstanding Warrants Continued on next page $801,202.31 $6,180,555.56 $2,462,777.78 $267,049.67 $617,712.00 $606,926.79 $666,666.67 $4,666,335.26 $2,503,333.33 $6,761,266.80 $947,284.46 $11,188,087.22 $1,073,471.08 $1,090,702.00 $6,054,504.67 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 265 Hometown Bancshares, Inc., Corbin, KY8,14 Institution HomeTown Bankshares Corporation, Roanoke, VA8,17 10/16/2013 1/9/2009 9/22/2011 12/29/2009 5/22/2009 4/24/2014 1/16/2009 11/1/2012 3/6/2009 9/3/2010 3/13/2009 6/12/2013 3/27/2009 5/20/2009 3/31/2009 12/5/2008 9/10/2010 5/15/2009 4/25/2014 3/17/2014 3/14/2014 9/18/2009 3/26/2013 1/11/2013 12/20/2012 2/6/2009 1/19/2011 12/22/2010 11/14/2008 12/11/2012 11/13/2009 5/1/2009 9/22/2011 2/27/2009 11/23/2011 8/25/2011 11/10/2010 12/19/2008 1/16/2013 12/12/2008 $4,205,000.00 $5,976,000.00 $1,552,000.00 $1,398,071,000.00 $5,000,000.00 $4,000,000.00 $5,983,000.00 $25,000,000.00 $18,400,000.00 $10,000,000.00 $1,900,000.00 Investment Amount Independence Bank, East Greenwich, RI8 Illinois State Bancorp, Inc., Chicago, IL8,14,18,44 Idaho Bancorp, Boise, ID8,108 ICB Financial, Ontario, CA8,14,44 IBW Financial Corporation, Washington, DC8,10,11 $1,065,000.00 $4,000,000.00 $6,272,000.00 $6,900,000.00 $6,000,000.00 $6,000,000.00 $2,295,000.00 Iberiabank Corporation, Lafayette, LA12,16 IBT Bancorp, Inc., Irving, TX8,14 $90,000,000.00 IBC Bancorp, Inc., Chicago, IL9,15,36 IA Bancorp, Inc./ Indus American Bank, Iselin, NJ8,17 Hyperion Bank, Philadelphia, PA8,14 Huntington Bancshares, Columbus, OH11 HPK Financial Corporation, Chicago, IL8,11,14,18 Howard Bancorp, Inc., Ellicott City, MD8,14,44 Horizon Bancorp, Michigan City, IN11,45 HopFed Bancorp, Hopkinsville, KY11 12/19/2012 1/11/2013 10/31/2012 9/18/2009 3/26/2013 1/11/2013 11/30/2012 11/28/2012 2/13/2009 Transactions Date $1,394,723.17 $11,836,113.40 $555,673.08 $7,494,458.33 $6,453,067.00 $2,936,462.50 $92,650,000.00 $4,632,216.32 $6,907,223.22 $1,337,166.22 $1,594,356,808.56 $10,940,554.65 $7,119,793.05 $29,857,321.83 $22,354,145.89 $11,111,011.94 $2,229,801.03 Total Cash Back2 (CONTINUED) $1,065,000.00 $10,272,000.00 $6,000,000.00 $6,000,000.00 $2,295,000.00 $90,000,000.00 $4,205,000.00 $3,145,438.66 $2,717,674.70 $1,008,800.00 $1,398,071,000.00 $9,000,000.00 $5,983,000.00 $18,750,000.00 $6,250,000.00 $18,400,000.00 $9,185,000.00 $1,183,339.50 $608,170.50 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($58,631.13) ($14,912.00) ($10,088.00) ($91,850.00) ($7,084.89) ($17,915.11) Auction Fee4 1,065 10,272 6,000 6,000 2,295 90,000 4,205,000 3,206 2,770 1,552 1,398,071 9,000 5,983 18,750 6,250 18,400 10,000 1,255 645 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1.00 $981.11 $981.11 $650.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $918.50 $942.90 $942.90 Average Price of Shares Disposed ($6,900,000.00) ($60,561.34) ($52,325.30) ($543,200.00) ($815,000.00) ($71,660.50) ($36,829.50) (Realized Loss) / (Write-off) Gain5 $53,000.00 $406,000.00 $300,000.00 $115,000.00 $1,200,000.00 $186,513.52 $25,700.00 $49,100,000.00 $344,000.00 $299,000.00 $1,750,551.00 $256,257.00 $315,461.52 $70,095.00 $17.15 $51.27 $9.54 $12.03 $24.72 $11.45 $9.30 Stock Price as of Warrant Sales 3/31/2016 3,106,771 253,666 Current Outstanding Warrants Continued on next page $276,723.17 $1,158,113.40 $124,305.92 $1,194,458.33 $453,067.00 $526,462.50 $1,450,000.00 $427,216.32 $916,227.47 $327,666.22 $147,185,808.56 $1,596,554.65 $837,793.05 $3,106,770.83 $3,697,888.89 $1,702,400.42 $393,196.03 Dividend/Interest Paid to Treasury 266 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 2/29/2012 2/8/2012 3/16/2011 8/4/2010 2/6/2009 9/29/2010 12/29/2009 2/20/2009 1/11/2013 11/30/2012 8/21/2009 3/19/2014 3/20/2009 4/20/2011 3/30/2011 11/14/2008 8/18/2011 1/30/2009 12/16/2009 6/17/2009 10/28/2008 10/19/2012 5/8/2009 9/3/2014 7/26/2013 6/24/2013 12/23/2008 6/11/2013 11/28/2012 11/1/2012 7/11/2012 12/23/2008 10/31/2014 11/20/2013 12/19/2008 7/29/2011 Lakeland Bancorp, Inc., Oak Ridge, NJ11 Lafayette Bancorp, Inc., Oxford, MS8,11,14,18,36 KS Bancorp, Inc., Smithfield, NC8,14 Kirksville Bancorp, Inc., Kirksville, MO8 KeyCorp, Cleveland, OH11 Katahdin Bankshares Corp., Houlton, ME8,14,44 JPMorgan Chase & Co., New York, NY11 Investors Financial Corporation of Pettis County, Inc., Sedalia, MO15,71,97 Intervest Bancshares Corporation, New York, NY International Bancshares Corporation, Laredo, TX11 Intermountain Community Bancorp, Sandpoint, ID115 Integra Bank Corporation, Evansville, IN22,52,97 2/27/2009 9/12/2012 Indiana Community Bancorp, Columbus, IN11 Indiana Bank Corp., Dana, IN8,22,92,97 Independent Bank Corporation, Ionia, MI29 Independent Bank Corp., Rockland, MA11 Institution 12/12/2008 4/9/2013 4/24/2009 8/30/2013 12/12/2008 5/27/2009 4/22/2009 1/9/2009 Transactions Date $59,000,000.00 $2,453,000.00 $1,998,000.00 $4,000,000.00 $470,000.00 $2,500,000,000.00 $10,449,000.00 $25,000,000,000.00 $4,000,000.00 $25,000,000.00 $216,000,000.00 $27,000,000.00 $83,586,000.00 $21,500,000.00 $1,312,000.00 $72,000,000.00 $78,158,000.00 Investment Amount $68,260,833.33 $4,818,134.50 $4,137,336.64 $622,228.44 $2,867,222,222.22 $12,423,046.75 $26,731,202,358.00 $174,324.60 $32,927,621.56 $261,538,649.89 $33,955,519.23 $1,950,340.00 $27,331,250.00 $165,139.00 $83,430,000.00 $81,476,093.61 Total Cash Back2 (CONTINUED) $19,000,000.00 $20,000,000.00 $20,000,000.00 $4,451,000.00 $3,308,000.00 $470,000.00 $2,500,000,000.00 $10,449,000.00 $25,000,000,000.00 $24,250,000.00 $131,000,000.00 $45,000,000.00 $40,000,000.00 $27,000,000.00 $21,500,000.00 $72,000,000.00 $78,158,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($25,000.00) ($242,500.00) Auction Fee4 19,000 20,000 20,000 4,451 4,000 470 25,000 10,449 2,500,000 25,000 131,000 45,000 40,000 27,000 21,500 72,000 78,158 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 $1,000.00 $827.00 $1,000.00 $100,000.00 $1,000.00 $10,000.00 $970.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 Average Price of Shares Disposed ($692,000.00) ($4,000,000.00) ($750,000.00) ($83,586,000.00) ($1,312,000.00) (Realized Loss) / (Write-off) $2,426,000.00 Gain5 $2,800,000.00 $100,000.00 $140,400.00 $24,000.00 $70,000,000.00 $522,000.00 $936,063,469.11 $2,892,066.00 $4,018,511.00 $10,635.00 $1,800,000.00 $2,200,000.00 $10.15 $11.81 $11.04 $11.25 $59.22 $41.97 $24.66 $29.92 $12.19 $14.55 $45.96 Stock Price as of Warrant Sales 3/31/2016 Current Outstanding Warrants Continued on next page $6,460,833.33 $267,134.50 $713,936.64 $128,228.44 $297,222,222.22 $1,452,046.75 $795,138,888.89 $174,324.60 $6,028,055.56 $41,520,138.89 $6,944,884.23 $1,950,340.00 $4,031,250.00 $165,139.00 $9,004,000.00 $1,118,093.61 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 267 Liberty Bancshares, Inc., Jonesboro, AR8,14,45 1/23/2009 $17,280,000.00 Liberty Shares, Inc., Hinesville, GA8 12/19/2012 8/29/2012 4/24/2009 12/17/2012 8/21/2012 5/18/2011 12/23/2008 8/20/2010 6/26/2009 12/16/2009 11/18/2009 12/12/2008 1/9/2015 12/4/2014 12/3/2014 2/6/2009 7/18/2012 6/19/2012 12/12/2008 9/22/2010 6/30/2010 7/10/2009 2/20/2009 9/24/2010 Mackinac Financial Corporation, Manistique, MI M&T Bank Corporation, Buffalo, NY11 M&F Bancorp, Inc., Durham, NC8,9,17 LSB Corporation, North Andover, MA11 Lone Star Bank, Houston, TX8 LNB Bancorp Inc., Lorain, OH Lincoln National Corporation, Radnor, PA11 $5,645,000.00 Liberty Financial Services, Inc., New Orleans, LA9,11,36 2/6/2009 $11,000,000.00 $600,000,000.00 $11,735,000.00 $15,000,000.00 $3,072,000.00 $25,223,000.00 $950,000,000.00 $6,500,000.00 Liberty Bancshares, Inc., Fort Worth, TX8,17 1/14/2015 $21,900,000.00 12/4/2009 8/18/2011 Liberty Bancshares, Inc., Springfield, MO8,14,45 $57,500,000.00 $5,498,000.00 $5,830,000.00 $13,400,000.00 $3,000,000.00 $56,044,000.00 Investment Amount 2/13/2009 7/21/2011 3/11/2011 Legacy Bancorp, Inc., Milwaukee, WI9,48,97 Leader Bancorp, Inc., Arlington, MA8,11,14 LCNB Corp., Lebanon, OH11 Layton Park Financial Group, Milwaukee, WI8,14 Lakeland Financial Corporation, Warsaw, IN12 Institution 1/30/2009 11/24/2010 12/23/2008 11/22/2011 10/21/2009 1/9/2009 3/26/2013 1/11/2013 11/29/2012 12/18/2009 11/22/2011 6/9/2010 2/27/2009 Transactions Date $13,521,828.15 $718,392,161.34 $12,409,762.50 $16,260,000.00 $1,950,881.54 $26,893,046.60 $1,209,851,873.70 $1,399,560.00 $6,106,008.58 $8,447,271.11 $25,995,452.08 $68,191,965.77 $355,079.00 $6,731,961.06 $14,527,390.33 $2,932,162.50 $60,517,713.33 Total Cash Back2 (CONTINUED) $10,538,990.00 $230,000,000.00 $370,000,000.00 $11,735,000.00 $15,000,000.00 $712,573.75 $1,195,906.25 $21,923,074.91 $950,000,000.00 $5,645,000.00 $6,500,000.00 $21,900,000.00 $57,500,000.00 $5,830,000.00 $13,400,000.00 $2,370,930.00 $56,044,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($158,084.85) ($25,000.00) ($328,846.12) ($1,290.71) ($23,709.29) Auction Fee4 11,000 230,000 370,000 11,735 15,000 1,147 1,925 25,223 950,000 5,645 6,500 21,900 57,500 5,830 13,400 3,000 56,044 Number of Shares Disposed $958.09 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $621.25 $621.25 $869.17 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $790.31 $1,000.00 Average Price of Shares Disposed ($461,010.00) ($434,426.25) ($729,093.75) ($3,299,925.09) ($5,498,000.00) ($629,070.00) (Realized Loss) / (Write-off) Gain5 $1,300,000.00 $31,838,761.34 $560,000.00 $67,401.54 $860,326.00 $213,671,319.20 $196,000.00 $1,095,000.00 $2,875,000.00 $292,000.00 $602,557.00 $104,375.00 $877,557.00 $10.25 $111.00 $13.51 $39.20 $16.07 $45.78 Stock Price as of Warrant Sales 3/31/2016 407,542 Current Outstanding Warrants Continued on next page $1,840,923.00 $155,027,270.00 $674,762.50 $700,000.00 $4,438,491.81 $46,180,554.50 $1,399,560.00 $461,008.58 $1,751,271.11 $3,000,452.08 $7,816,965.77 $355,079.00 $609,961.06 $524,833.33 $481,857.50 $3,596,156.33 Dividend/Interest Paid to Treasury 268 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 7/21/2011 12/22/2009 2/27/2009 8/18/2011 11/20/2009 5/2/2012 3/14/2012 12/5/2008 9/26/2014 7/2/2014 3/27/2009 7/5/2011 11/14/2008 9/11/2012 8/10/2012 8/9/2012 8/7/2012 12/19/2008 9/11/2012 8/10/2012 8/9/2012 5/15/2009 9/26/2014 7/2/2014 2/20/2009 9/26/2014 7/3/2014 7/2/2014 7/1/2014 3/6/2009 1/11/2013 12/11/2012 12/10/2012 6/19/2009 10/14/2009 9/16/2009 12/5/2008 6/11/2013 4/3/2012 1/16/2009 3/9/2012 12/29/2009 8/18/2011 6/8/2011 11/24/2009 12/23/2008 1/6/2014 11/19/2013 3/13/2009 Transactions Date Medallion Bank, Salt Lake City, UT8,14,18,44 McLeod Bancshares, Inc., Shorewood, MN8,14,45 MB Financial Inc., Chicago, IL11 Maryland Financial Bank, Towson, MD8 Marshall & Ilsley Corporation, Milwaukee, WI43 Marquette National Corporation, Chicago, IL8,14 Market Street Bancshares, Inc., Mt. Vernon, IL14,15 Market Bancorporation, Inc., New Market, MN8 Marine Bank & Trust Company, Vero Beach, FL8 Manhattan Bancshares, Inc., Manhattan, IL14,15 Manhattan Bancorp, El Segundo, CA11 MainSource Financial Group, Inc., Greensburg, IN Mainline Bancorp, Inc., Ebensburg, PA8,14 Magna Bank, Memphis, TN8,11,44 Madison Financial Corporation, Richmond, KY8 Institution $9,698,000.00 $11,800,000.00 $6,000,000.00 $196,000,000.00 $1,700,000.00 $1,715,000,000.00 $35,500,000.00 $20,300,000.00 $2,060,000.00 $3,000,000.00 $2,639,000.00 $1,700,000.00 $57,000,000.00 $4,500,000.00 $13,795,000.00 $3,370,000.00 Investment Amount $24,460,674.81 $6,870,433.33 $229,613,072.00 $817,240.50 $1,944,772,916.66 $33,835,943.42 $24,429,245.84 $2,714,911.32 $2,296,213.00 $3,438,793.11 $1,829,711.12 $62,949,121.28 $5,263,187.50 $16,146,467.87 $3,773,495.65 Total Cash Back2 (CONTINUED) $21,498,000.00 $6,000,000.00 $196,000,000.00 $527,000.00 $1,715,000,000.00 $17,133,307.00 $5,904,609.50 $2,530,958.50 $331,767.90 $17,919,962.10 $2,060,000.00 $21,440.00 $483,740.00 $1,504,820.00 $2,586,404.73 $1,700,000.00 $53,073,270.00 $4,500,000.00 $6,885,000.00 $3,455,000.00 $3,455,000.00 $3,370,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($25,000.00) ($255,688.75) ($182,517.30) ($25,000.00) ($25,000.00) ($25,000.00) ($796,099.05) ($25,000.00) Auction Fee4 21,498 600 196,000 1,700 1,715,000 23,788 8,198 3,514 369,000 19,931,000 2,060 32 722 2,246 2,639,000 1,700 57,000 4,500 6,885 3,455 3,455 3,370 Number of Shares Disposed $1,000.00 $10,000.00 $1,000.00 $310.00 $1,000.00 $720.25 $720.25 $720.25 $0.90 $0.90 $1,210.03 $670.00 $670.00 $670.00 $0.98 $1,000.00 $931.11 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,022.61 Average Price of Shares Disposed ($1,173,000.00) ($6,654,693.00) ($2,293,390.50) ($983,041.50) ($37,232.10) ($2,011,037.90) ($10,560.00) ($238,260.00) ($741,180.00) ($52,595.27) ($3,926,730.00) (Realized Loss) / (Write-off) $432,661.80 $76,195.70 Gain5 $645,000.00 $300,000.00 $1,518,072.00 $1,775.00 $3,250,000.00 $252,452.23 $1,054,743.77 $142,974.56 $97,505.10 $727,225.54 $108,471.52 $503.33 $19,126.67 $55,870.00 $95,959.50 $11,385.02 $63,363.90 $1,512,177.00 $225,000.00 $690,000.00 $182,878.45 $32.45 $91.00 $21.09 $10.25 Stock Price as of Warrant Sales 3/31/2016 Current Outstanding Warrants Continued on next page $2,317,674.81 $570,433.33 $32,095,000.00 $313,465.50 $226,522,916.66 $7,072,586.61 $5,535,302.50 $138,778.00 $235,713.00 $770,043.86 $66,347.22 $9,159,773.33 $538,187.50 $1,661,467.87 $169,421.50 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 269 Midwest Regional Bancorp, Inc./ The Bank of Otterville, Festus, MO8,11,14 2/13/2009 11/10/2009 5/14/2010 Midwest Banc Holdings, Inc., Melrose Park, IL22,27,97 Midtown Bank & Trust Company, Atlanta, GA8 MidSouth Bancorp, Inc., Lafayette, LA44 Midland States Bancorp, Inc., Effingham, IL8,11,14 Middleburg Financial Corporation, Middleburg, VA12 Mid Penn Bancorp, Inc., Millersburg, PA11 Metropolitan Capital Bancorp, Inc., Chicago, IL8,18 Metropolitan Bank Group, Inc., Chicago, IL8,42 MetroCorp Bancshares, Inc., Houston, TX Metro City Bank, Doraville, GA8,14 12/5/2008 1/6/2014 11/19/2013 2/27/2009 11/22/2011 8/25/2011 1/9/2009 12/23/2009 1/23/2009 11/18/2011 12/23/2009 1/30/2009 1/23/2013 12/28/2012 12/19/2008 8/6/2015 6/29/2015 11/20/2009 4/10/2009 6/28/2013 6/26/2009 6/11/2013 7/3/2012 1/16/2009 1/11/2013 11/1/2012 10/29/2012 1/30/2009 4/25/2014 3/17/2014 $700,000.00 $84,784,000.00 $5,222,000.00 $20,000,000.00 $10,189,000.00 $22,000,000.00 $10,000,000.00 $2,348,000.00 $2,040,000.00 $71,526,000.00 $45,000,000.00 $7,700,000.00 $6,200,000.00 $6,335,000.00 Meridian Bank, Devon, PA8,18 $3,510,000.00 $1,881,000.00 $3,500,000.00 $21,000,000.00 Investment Amount 2/13/2009 Merchants and Manufacturers Bank Corporation, Joliet, IL8,14,44 Merchants and Planters Bancshares, Inc., Toone, TN8,14,56 Mercantile Capital Corp., Boston, MA8,14,44 Mercantile Bank Corporation, Grand Rapids, MI11 Institution 12/11/2009 9/8/2011 6/19/2009 9/7/2011 3/6/2009 8/4/2011 2/6/2009 7/3/2012 6/6/2012 4/4/2012 5/15/2009 Transactions Date $763,294.14 $824,288.89 $3,520,137.55 $22,834,334.78 $11,206,989.34 $23,287,945.11 $12,070,979.20 $5,663,197.28 $27,172,726.72 $53,406,628.25 $8,806,297.80 $13,582,165.84 $4,110,668.47 $2,231,560.00 $4,150,815.03 $31,631,120.56 Total Cash Back2 (CONTINUED) $700,000.00 $3,133,200.00 $20,000,000.00 $10,189,000.00 $22,000,000.00 $10,000,000.00 $4,135,655.24 $23,718,541.95 $44,152,650.00 $6,904,667.10 $26,102.90 $10,328,152.35 $3,510,000.00 $1,881,000.00 $3,500,000.00 $10,500,000.00 $10,500,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($25,000.00) ($33,333.34) ($662,289.75) ($69,307.70) ($103,281.52) Auction Fee4 700 5,222 20,000 10,189 22,000 10,000 4,388 71,526 45,000 7,671 29 12,535 3,510 1,881 3,500 10,500 10,500 Number of Shares Disposed $1,000.00 $600.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $942.49 $331.61 $981.17 $900.10 $900.10 $823.95 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 Average Price of Shares Disposed ($84,784,000.00) ($2,088,800.00) ($252,344.76) ($47,807,458.05) ($847,350.00) ($766,332.90) ($2,897.10) ($2,206,847.65) (Realized Loss) / (Write-off) Gain5 $35,000.00 $136,833.05 $206,557.00 $509,000.00 $301,001.00 $58,479.20 $84,445.94 $2,087,368.00 $369,948.00 $262,399.50 $176,000.00 $94,000.00 $175,000.00 $7,465,100.00 $14.85 $32.48 $22.42 Stock Price as of Warrant Sales 3/31/2016 73,099 Current Outstanding Warrants Continued on next page $28,294.14 $824,288.89 $275,104.50 $2,627,777.78 $508,989.34 $986,944.11 $2,012,500.00 $1,476,429.44 $3,786,440.95 $7,828,900.00 $1,574,887.50 $3,094,895.51 $424,668.47 $256,560.00 $475,815.03 $3,166,020.56 Dividend/Interest Paid to Treasury 270 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 3/26/2013 2/20/2013 2/19/2013 2/27/2009 8/8/2012 6/27/2012 11/21/2008 7/12/2012 3/27/2009 9/28/2011 8/25/2011 12/23/2008 10/19/2011 3/27/2009 9/12/2013 7/22/2013 9/25/2009 12/5/2012 4/25/2012 1/23/2009 7/20/2011 1/16/2009 8/12/2009 6/17/2009 10/28/2008 8/11/2011 1/30/2009 9/15/2011 3/13/2009 2/10/2010 12/23/2009 12/19/2008 11/15/2013 2/6/2009 12/28/2012 National Bancshares, Inc., Bettendorf, IA8,14 Nara Bancorp, Inc./ BBCN Bancorp, Inc., Los Angeles, CA11,59 Naples Bancorp, Inc., Naples, FL8 MutualFirst Financial, Inc., Muncie, IN45 MS Financial, Inc., Kingwood, TX8,11,14 Mountain Valley Bancshares, Inc., Cleveland, GA8,14 Moscow Bancshares, Inc., Moscow, TN8,11,14 Morrill Bancshares, Inc., Merriam, KS8,11,14 Morgan Stanley, New York, NY11 Monument Bank, Bethesda, MD8,14,44 Moneytree Corporation, Lenoir City, TN8,14,45 Monarch Financial Holdings, Inc., Chesapeake, VA12,16 Monarch Community Bancorp, Inc., Coldwater, MI98 Monadnock Bancorp, Inc., Peterborough, NH8,11,14 12/19/2008 8/20/2010 Mission Valley Bancorp, Sun Valley, CA9,11,36 Mission Community Bancorp, San Luis Obispo, CA9,11 Millennium Bancorp, Inc., Edwards, CO8 Mid-Wisconsin Financial Services, Inc., Medford, WI8,11,14 MidWestOne Financial Group, Inc., Iowa City, IA11 Institution 12/23/2008 12/28/2011 1/9/2009 8/14/2012 4/3/2009 4/26/2013 2/20/2009 7/27/2011 7/6/2011 2/6/2009 Transactions Date $24,664,000.00 $67,000,000.00 $4,000,000.00 $32,382,000.00 $7,723,000.00 $3,300,000.00 $6,216,000.00 $13,000,000.00 $10,000,000,000.00 $4,734,000.00 $9,516,000.00 $14,700,000.00 $6,785,000.00 $1,834,000.00 $5,500,000.00 $5,116,000.00 $7,260,000.00 $10,000,000.00 $16,000,000.00 Investment Amount $21,471,087.90 $81,249,317.20 $956,066.67 $37,608,789.00 $9,206,289.90 $4,069,975.55 $7,803,377.38 $15,429,122.22 $11,268,055,555.11 $5,623,958.50 $11,291,481.00 $15,703,166.66 $4,808,121.00 $2,339,348.60 $5,956,041.66 $5,875,583.89 $4,296,561.73 $12,844,226.31 $18,933,333.33 Total Cash Back2 (CONTINUED) $16,064,996.94 $2,438,182.50 $67,000,000.00 $600,000.00 $32,382,000.00 $7,723,000.00 $3,267,000.00 $5,116,000.00 $1,100,000.00 $13,000,000.00 $10,000,000,000.00 $4,734,000.00 $9,516,000.00 $14,700,000.00 $4,545,202.00 $1,834,000.00 $5,500,000.00 $5,116,000.00 $2,904,000.00 $10,000,000.00 $16,000,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($185,031.79) ($25,000.00) Auction Fee4 21,414 3,250 67,000 4,000 32,382 7,723 3,300 5,116 1,100 13,000 10,000,000 4,734 9,516 14,700 2,272,601 1,834 5,500 5,116 7,260 10,000 16,000 Number of Shares Disposed $750.21 $750.21 $1,000.00 $150.00 $1,000.00 $1,000.00 $990.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $2.00 $1,000.00 $1,000.00 $1,000.00 $400.00 $1,000.00 $1,000.00 Average Price of Shares Disposed ($5,349,003.06) ($811,817.50) ($3,400,000.00) ($33,000.00) ($2,239,798.00) ($4,356,000.00) (Realized Loss) / (Write-off) Gain5 $502,606.30 $342,841.95 $2,189,317.20 $900,194.00 $386,000.00 $140,034.65 $311,000.00 $650,000.00 $950,000,000.00 $237,000.00 $476,000.00 $260,000.00 $92,000.00 $500,000.00 $1,000,000.00 $25.20 $25.01 $16.61 $7.79 $38.85 $27.45 Stock Price as of Warrant Sales 3/31/2016 342,610 Current Outstanding Warrants Continued on next page $2,307,492.00 $23,237,328.30 $356,066.67 $4,326,595.00 $1,097,289.90 $687,940.90 $1,276,377.38 $1,779,122.22 $318,055,555.11 $652,958.50 $1,299,481.00 $743,166.66 $262,919.00 $413,348.60 $456,041.66 $759,583.89 $1,392,561.73 $2,344,226.31 $1,933,333.33 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 271 1/9/2013 2/13/2009 4/9/2013 3/11/2013 3/8/2013 2/13/2009 9/15/2011 1/30/2009 8/26/2009 6/17/2009 11/14/2008 4/30/2014 2/20/2009 3/28/2012 12/18/2009 5/15/2009 12/28/2012 11/28/2012 12/12/2008 1/11/2012 12/14/2011 1/9/2009 9/1/2011 12/23/2008 5/31/2013 5/15/2013 4/29/2013 4/26/2013 12/12/2008 7/24/2013 1/9/2009 2/15/2012 8/25/2011 1/16/2009 4/24/2013 6/19/2009 Northwest Commercial Bank, Lakewood, WA8,11,14 Northwest Bancorporation, Inc., Spokane, WA8,14 Northway Financial, Inc., Berlin, NH8,14,44 Northern Trust Corporation, Chicago, IL11 Northern States Financial Corporation, Waukegan, IL109 Northern State Bank/ First Commerce Bank, Closter, NJ8,11,14,18 Northeast Bancorp, Lewiston, ME11 North Central Bancshares, Inc., Fort Dodge, IA11 Nicolet Bankshares, Inc., Green Bay, WI8,14,44 NewBridge Bancorp, Greensboro, NC New York Private Bank & Trust Corporation, New York, NY8,11,14 New Hampshire Thrift Bancshares, Inc., Newport, NH44 $1,992,000.00 $10,500,000.00 $10,000,000.00 $1,576,000,000.00 $17,211,000.00 $1,230,000.00 $1,341,000.00 $4,227,000.00 $10,200,000.00 $14,964,000.00 $52,372,000.00 $267,274,000.00 $10,000,000.00 $2,330,000.00 $10,000,000.00 NCAL Bancorp, Los Angeles, CA8,119 12/19/2008 12/10/2014 NEMO Bancshares Inc., Madison, MO11,14,15 $6,880,000.00 NC Bancorp, Inc./ Metropolitan Bank Group, Inc., Chicago, IL8,42 6/28/2013 12/29/2010 6/26/2009 $2,000,000.00 $150,000,000.00 Investment Amount Nationwide Bankshares, Inc., West Point, NE11,14,15 National Penn Bancshares, Inc., Boyertown, PA11,16 Institution 12/11/2009 4/13/2011 3/16/2011 12/12/2008 Transactions Date $2,380,393.00 $11,891,847.50 $11,930,624.67 $1,709,623,333.35 $6,442,172.50 $2,987,782.33 $5,159,181.33 $12,294,583.33 $17,904,842.66 $70,087,060.35 $346,794,005.83 $12,041,266.67 $3,199,347.39 $5,211,027.78 $2,613,714.23 $2,276,190.00 $167,958,333.33 Total Cash Back2 (CONTINUED) $1,992,000.00 $8,500,000.00 $2,000,000.00 $10,000,000.00 $1,576,000,000.00 $6,023,850.00 $2,571,000.00 $4,227,000.00 $10,200,000.00 $14,964,000.00 $48,641,624.50 $2,709,121.50 $267,274,000.00 $10,000,000.00 $2,330,000.00 $3,900,000.00 $2,281,458.05 $2,000,000.00 $150,000,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($108,371.55) ($513,507.46) Auction Fee4 1,992 8,500 2,000 10,000 1,576,000 20,079,500 2,571 4,227 10,200 14,964 49,609 2,763 267,274 10,000 2,330,000 10,000 6,880 2,000,000 150,000 Number of Shares Disposed $1,000.00 $1,032.11 $1,032.11 $1,000.00 $1,000.00 $0.30 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $980.50 $980.50 $1,000.00 $1,000.00 $1.00 $390.00 $331.61 $1.00 $1,000.00 Average Price of Shares Disposed ($11,187,150.00) ($967,375.50) ($53,878.50) ($6,100,000.00) ($4,598,541.95) (Realized Loss) / (Write-off) $272,935.00 $64,220.00 Gain5 $100,000.00 $587,634.55 $500,000.00 $87,000,000.00 $67,000.00 $95,000.00 $600,000.00 $748,000.00 $7,778,782.65 $13,364,000.00 $737,100.00 $117,000.00 $100,000.00 $1,000,000.00 $20.40 $65.17 $0.61 $10.61 $10.93 $13.98 $0.72 $10.64 Stock Price as of Warrant Sales 3/31/2016 584,084 Current Outstanding Warrants Continued on next page $288,393.00 $575,429.50 $1,430,624.67 $46,623,333.35 $418,322.50 $349,782.33 $837,181.33 $1,494,583.33 $2,192,842.66 $11,471,039.16 $66,156,005.83 $1,304,166.67 $752,347.39 $1,311,027.78 $176,190.00 $16,958,333.33 Dividend/Interest Paid to Treasury 272 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 $31,423,238.49 $100,000,000.00 $7,000,000.00 $2,080,000.00 $38,263,000.00 $13,500,000.00 $7,095,550.00 Capital Repayment / Disposition / Auction3,5 $2,816,000.00 $5,500,000.00 Omega Capital Corp., Lakewood, CO8,14 6/5/2009 4/24/2009 7/28/2011 12/23/2008 1/6/2014 11/19/2013 12/19/2008 11/30/2012 2/23/2011 11/21/2008 10/5/2011 5/1/2009 1/6/2014 10/21/2013 10/18/2013 Pacific Coast Bankers’ Bancshares, San Francisco, CA8,14,45 Pacific City Financial Corporation, Los Angeles, CA8 Pacific Capital Bancorp, Santa Barbara, CA11,35 OSB Financial Services, Inc., Orange, TX11,14,15 $11,600,000.00 $16,200,000.00 $180,634,000.00 $6,100,000.00 $3,216,000.00 OneFinancial Corporation, Little Rock, AR15,17,129 12/19/2008 Oregon Bancorp, Inc., Salem, OR8 $17,300,000.00 One United Bank, Boston, MA8,9 7/15/2011 $12,063,000.00 One Georgia Bank, Atlanta, GA8,51,97 5/8/2009 9/12/2013 7/22/2013 7/19/2013 4/17/2009 6/11/2013 4/9/2013 3/27/2013 $13,821,963.89 $21,003,597.96 $168,483,804.20 $7,662,314.53 $4,116,801.92 $7,662,990.59 $93,823.33 $0.00 $3,403,603.15 $11,600,000.00 $16,200,000.00 $165,983,272.00 $14.75 $6,100,000.00 $3,116,000.00 $100,000.00 $1,577,000.00 $1,239,000.00 $668,079.44 $452,424.00 $73,000,000.00 $102,713,888.89 $7,438,888.89 $2,654,758.89 $40,521,918.61 $15,871,250.00 $8,592,336.00 Total Cash Back2 $24,684,870.00 $100,000,000.00 $7,000,000.00 $2,080,000.00 $38,263,000.00 $13,500,000.00 $7,700,000.00 Investment Amount 3/26/2013 Old Second Bancorp, Inc., Aurora, IL Old National Bancorp, Evansville, IN11 Old Line Bancshares, Inc., Bowie, MD11 Ojai Community Bank, Ojai, CA8 OceanFirst Financial Corp., Toms River, NJ12,16 Oak Valley Bancorp, Oakdale, CA45 Oak Ridge Financial Services, Inc., Oak Ridge, NC Institution (CONTINUED) 3/11/2013 1/16/2009 5/8/2009 3/31/2009 12/12/2008 9/2/2009 7/15/2009 12/5/2008 9/25/2013 1/30/2009 2/3/2010 12/30/2009 1/16/2009 9/28/2011 8/11/2011 12/5/2008 2/6/2013 1/11/2013 10/31/2012 1/30/2009 Transactions Date CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($196,857.54) ($25,000.00) ($25,000.00) ($258,053.73) ($70,955.50) Auction Fee4 11,600 16,200 3,608,332 1 6,100,000 3,116 100 1,577 1,239 1,772 1,200 70,028 100,000 7,000 2,080 38,263 13,500 7,700 Number of Shares Disposed $1,000.00 $1,215.17 $46.00 $29.50 $1.00 $1,000.00 $1,000.00 $1,142.90 $1,142.90 $377.02 $377.02 $352.50 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $921.50 Average Price of Shares Disposed ($14,650,702.97) ($10.28) ($5,500,000.00) ($1,103,920.56) ($747,576.00) ($45,343,130.00) ($604,450.00) (Realized Loss) / (Write-off) $3,485,754.00 $225,353.30 $177,053.10 Gain5 $580,000.00 $1,156,636.50 $393,120.78 $305,000.00 $128,988.07 $9,459.13 $159,886.25 $106,891.00 $1,200,000.00 $225,000.00 $104,000.00 $430,797.00 $560,000.00 $122,887.50 $11.25 $7.17 $12.19 $18.03 $6.00 $17.68 $9.27 $9.80 Stock Price as of Warrant Sales 3/31/2016 163,830 Current Outstanding Warrants Continued on next page $1,641,963.89 $358,065.00 $2,107,396.67 $1,257,314.53 $787,354.72 $3,782,990.59 $93,823.33 $50,310.50 $5,769,027.78 $1,513,888.89 $213,888.89 $470,758.89 $1,828,121.61 $1,811,250.00 $1,444,854.00 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 273 Parkvale Financial Corpoation/F.N.B. Corporation, Monroeville, PA60 Parke Bancorp, Inc., Sewell, NJ Park National Corporation, Newark, OH11 Park Bancorporation, Inc., Madison, WI8,14 Pacific International Bancorp/BBCN Bancorp, Inc., Seattle, WA85 Pacific Commerce Bank, Los Angeles, CA8 Pacific Coast National Bancorp, San Clemente, CA8,26 Institution 4/4/2012 1/11/2012 3/2/2011 1/6/2010 1/9/2009 Peapack-Gladstone Financial Corporation, Gladstone, NJ11 $28,685,000.00 $32,075,739.67 $250,000.00 $250,000.00 $250,000.00 $14,038,000.00 $12,000,000.00 $3,727,000.00 $6,771,000.00 $14,341,000.00 $7,172,000.00 $7,172,000.00 $500,000.00 $4,692,022.77 $33,824,567.35 $4,628,862.77 $7,976,328.84 $6,000,000.00 $3,756,000.00 $31,762,000.00 $11,318,791.40 $394,072.28 $100,000,000.00 $11,216,640.00 $4,048,506.00 $1,676,654.00 $6,500,000.00 $2,519,960.80 Capital Repayment / Disposition / Auction3,5 $2,440,000.00 $3,690,000.00 $26,038,000.00 $3,727,000.00 $6,771,000.00 $9,260,824.26 $4,497,312.67 $42,596,063.59 $16,365,554.76 $119,536,844.44 $22,020,064.10 $7,937,744.97 $2,991,670.80 $18,087.94 Total Cash Back2 6/5/2013 Patterson Bancshares, Inc, Patterson, LA8,11,14 Patriot Bancshares, Inc., Houston, TX8 Pathway Bancorp, Cairo, NE8,14 Pathfinder Bancorp, Inc., Oswego, NY44 $6,000,000.00 $3,756,000.00 $31,762,000.00 $16,288,000.00 $100,000,000.00 $23,200,000.00 $6,500,000.00 $4,060,000.00 $4,120,000.00 Investment Amount (CONTINUED) 5/8/2013 12/5/2012 8/22/2012 3/7/2012 4/17/2009 7/18/2014 4/14/2014 4/11/2014 12/19/2008 7/26/2013 6/24/2013 3/27/2009 2/1/2012 9/1/2011 9/11/2009 8/28/2015 12/19/2008 10/19/2011 Patapsco Bancorp, Inc., Dundalk, MD8,126 Pascack Bancorp, Inc. (Pascack Community Bank), Westwood, NJ8,11,21 2/6/2009 5/27/2015 1/3/2012 12/23/2008 6/12/2013 1/11/2013 11/29/2012 11/28/2012 1/30/2009 5/2/2012 4/25/2012 12/23/2008 9/11/2012 8/10/2012 8/9/2012 8/7/2012 3/6/2009 2/15/2013 12/12/2008 3/19/2014 2/10/2014 12/23/2008 2/11/2010 1/16/2009 Transactions Date CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($297,361.77) ($25,000.00) ($117,128.64) ($169,418.00) ($25,000.00) Auction Fee4 14,341 7,172 7,172 2,440 500 250 250 250 14,038 12,000 3,727 6,771 6,000 3,756 31,762 15,740 548 100,000 15,360 5,544 2,296 6,500 4,060 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,142.03 $1,142.03 $1,167.01 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $719.11 $719.11 $1,000.00 $730.25 $730.25 $730.25 $1,000.00 $620.68 Average Price of Shares Disposed ($4,421,208.60) ($153,927.72) ($4,143,360.00) ($1,495,494.00) ($619,346.00) ($1,540,039.20) ($4,120,000.00) (Realized Loss) / (Write-off) $1,993,817.14 $1,704,360.00 $622,446.27 Gain5 $110,000.00 $185,000.00 $645,781.95 $1,035,834.25 $226,565.00 $537,633.00 $300,000.00 $188,000.00 $6,025,649.70 $1,650,288.00 $2,842,400.00 $325,200.40 $482,779.69 $88,059.01 $109,487.50 $16.90 $11.02 $12.03 $13.01 $13.25 $90.00 $15.19 $9.99 Stock Price as of Warrant Sales 3/31/2016 342,564 438,906 19,420 Current Outstanding Warrants Continued on next page $3,280,739.67 $817,022.77 $2,704,135.78 $77,851.50 $667,695.84 $2,960,824.26 $553,312.67 $3,119,531.72 $16,694,444.44 $4,351,643.00 $387,222.50 $18,087.94 Dividend/Interest Paid to Treasury 274 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 7/23/2014 7/2/2014 12/5/2008 5/31/2013 5/22/2013 4/29/2013 1/30/2009 5/31/2013 4/29/2013 4/26/2013 7/17/2009 9/27/2011 12/19/2008 7/18/2012 6/20/2012 12/28/2011 12/12/2008 3/6/2009 11/5/2010 1/23/2009 8/13/2010 2/6/2009 8/25/2011 9/11/2009 9/18/2013 3/6/2009 1/11/2013 10/31/2012 3/20/2009 4/24/2012 4/24/2009 8/8/2012 7/3/2012 12/23/2008 8/3/2011 2/13/2009 2/15/2012 12/28/2011 2/2/2011 1/30/2009 9/1/2011 4/17/2009 Transactions Date Popular, Inc., San Juan, PR20 Plumas Bancorp, Quincy, CA Plato Holdings Inc., Saint Paul, MN15,17 Plains Capital Corporation, Dallas, TX8,14,44 $935,000,000.00 $11,949,000.00 $2,500,000.00 $87,631,000.00 $95,000,000.00 $4,389,000.00 Pinnacle Bank Holding Company, Inc., Orange City, FL8,69 Pinnacle Financial Partners, Inc., Nashville, TN11 $6,800,000.00 $3,000,000.00 $1,500,000.00 $12,325,000.00 $3,900,000.00 $12,660,000.00 $25,054,000.00 $18,000,000.00 $39,000,000.00 $9,960,000.00 Investment Amount Pierce County Bancorp, Tacoma, WA8,46,97 PGB Holdings, Inc., Chicago, IL9,11,36 PFSB Bancorporation, Inc., Pigeon Falls, WI8,17,45 PeoplesSouth Bancshares, Inc., Colquitt, GA8 Peoples Bancshares of TN, Inc., Madisonville, TN8,14 Peoples Bancorporation, Inc., Easley, SC8,14 Peoples Bancorp of North Carolina, Inc., Newton, NC Peoples Bancorp (WA), Lynden, WA8,14,56 Peoples Bancorp Inc., Marietta, OH11 Penn Liberty Financial Corp., Wayne, PA8,14,44 Institution $1,220,280,000.00 $13,764,140.41 $3,103,618.40 $105,252,939.77 $111,918,194.45 $284,999.00 $207,947.78 $3,227,916.67 $1,730,162.66 $15,985,994.66 $3,809,874.42 $15,362,909.75 $27,877,966.16 $21,325,250.00 $44,926,557.48 $11,745,689.33 Total Cash Back2 (CONTINUED) $935,000,000.00 $11,949,000.00 $2,380,000.00 $120,000.00 $87,631,000.00 $71,250,000.00 $23,750,000.00 $3,000,000.00 $1,500,000.00 $12,325,000.00 $2,944,500.00 $12,660,000.00 $23,384,401.44 $18,000,000.00 $18,000,000.00 $21,000,000.00 $9,960,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($130,376.73) ($25,000.00) ($25,000.00) ($350,766.02) Auction Fee4 935,000 11,949 2,380,000 120,000 87,631 71,250 23,750 3,000 1,500 12,325 3,900 12,660 25,054 18,000 18,000 21,000 9,960 Number of Shares Disposed $1,000.00 $1,091.11 $1.00 $1.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $755.00 $1,000.00 $933.36 $1,000.00 $1,000.00 $1,000.00 $1,000.00 Average Price of Shares Disposed ($6,800,000.00) ($955,500.00) ($1,669,598.56) (Realized Loss) / (Write-off) $1,088,673.39 $3,570.00 $180.00 Gain5 $3,000,000.00 $234,500.00 $90,582.47 $4,382,000.00 $755,000.00 $71,000.00 $616,000.00 $122,225.00 $633,000.00 $425,000.00 $900,000.00 $1,200,724.15 $498,000.00 $28.61 $8.81 $49.06 $18.60 $19.54 Stock Price as of Warrant Sales 3/31/2016 267,455 Current Outstanding Warrants Continued on next page $269,280,000.00 $622,343.75 $534,285.93 $13,239,939.77 $16,163,194.45 $284,999.00 $207,947.78 $227,916.67 $159,162.66 $3,044,994.66 $768,149.42 $2,069,909.75 $4,419,330.74 $2,425,250.00 $4,725,833.33 $1,287,689.33 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 275 8/11/2011 1/16/2009 Puget Sound Bank, Bellevue, WA8,14,44 PSB Financial Corporation, Many, LA8,11,14 2/27/2009 9/29/2010 4/30/2014 Provident Community Bancshares, Inc., Rock Hill, SC107 Provident Bancshares Corp./M&T Bank Corporation, Baltimore, MD88 Providence Bank, Rocky Mount, NC8,17,44 PrivateBancorp, Inc., Chicago, IL12 Private Bancorporation, Inc., Minneapolis, MN8,18 Princeton National Bancorp, Inc., Princeton, IL75,97 Presidio Bank, San Francisco, CA8,17 PremierWest Bancorp, Medford, OR80 Premier Service Bank, Riverside, CA8 Premier Financial Corp, Dubuque, IA14,15 Premier Financial Bancorp, Inc., Huntington, WV Premier Bank Holding Company, Tallahassee, FL8,22,97 Premier Bancorp, Inc., Wilmette, IL9,15,36 Prairie Star Bancshares, Inc., Olathe, KS8 Porter Bancorp Inc., Louisville, KY Institution 3/13/2009 3/25/2013 3/20/2013 8/21/2012 11/14/2008 9/15/2011 10/2/2009 11/14/2012 10/24/2012 1/30/2009 6/25/2014 12/29/2009 2/27/2009 11/2/2012 1/23/2009 1/11/2013 12/11/2012 12/10/2012 11/20/2009 4/9/2013 2/13/2009 1/31/2014 2/20/2009 9/12/2013 7/22/2013 5/22/2009 5/6/2015 9/11/2012 8/10/2012 8/9/2012 8/8/2012 10/2/2009 8/14/2012 3/20/2009 8/13/2010 5/8/2009 8/6/2015 6/29/2015 4/3/2009 1/9/2015 12/4/2014 12/3/2014 11/21/2008 Transactions Date $4,500,000.00 $9,270,000.00 $9,266,000.00 $151,500,000.00 $4,000,000.00 $243,815,000.00 $3,262,000.00 $4,960,000.00 $25,083,000.00 $10,800,000.00 $41,400,000.00 $4,000,000.00 $6,349,000.00 $22,252,000.00 $9,500,000.00 $6,784,000.00 $2,800,000.00 $35,000,000.00 Investment Amount $5,355,156.75 $10,536,802.00 $5,639,391.00 $199,100,113.41 $4,596,311.80 $290,552,132.92 $10,836,280.71 $2,271,405.00 $11,077,694.89 $42,446,500.00 $4,300,522.22 $8,778,669.11 $28,727,240.29 $467,412.50 $7,444,215.12 $3,596,579.20 $8,233,333.33 Total Cash Back2 (CONTINUED) $4,500,000.00 $9,270,000.00 $5,096,300.00 $151,500,000.00 $4,000,000.00 $243,815,000.00 $8,222,000.00 $8,887,232.90 $262,635.10 $41,400,000.00 $4,000,000.00 $6,349,000.00 $9,795,998.16 $8,575,102.51 $1,678,618.89 $6,784,000.00 $2,800,000.00 $806,200.00 $2,693,800.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($91,498.68) ($78,563.80) ($200,497.20) ($25,000.00) ($50,000.00) Auction Fee4 4,500 9,270 9,266 151,500 4,000 243,815 8,222 10,490 310 41,400 4,000 6,349,000 10,872 9,517 1,863 6,784,000 2,800 8,062 26,938 Number of Shares Disposed $1,000.00 $1,000.00 $550.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $847.21 $847.21 $1,000.00 $1,000.00 $1.24 $901.03 $901.03 $901.03 $1.00 $1,187.61 $100.00 $100.00 Average Price of Shares Disposed ($4,169,700.00) ($25,083,000.00) ($1,602,767.10) ($47,364.90) ($1,076,001.84) ($941,897.49) ($184,381.11) ($9,500,000.00) ($7,255,800.00) ($24,244,200.00) (Realized Loss) / (Write-off) $19,047,005.12 $71.62 $1,507,379.58 $525,308.00 Gain5 $225,000.00 $464,000.00 $175,000.00 $1,225,000.00 $248,000.00 $195,295.20 $83,086.12 $200,000.00 $478,590.75 $5,675,000.00 $164,018.20 $18.45 $6.67 $38.60 $13.50 $21.37 $15.76 $1.21 Stock Price as of Warrant Sales 3/31/2016 178,880 330,561 Current Outstanding Warrants Continued on next page $630,156.75 $802,802.00 $543,091.00 $421,311.80 $45,512,132.92 $2,366,280.71 $2,271,405.00 $1,740,944.25 $1,046,500.00 $100,522.22 $522,262.58 $3,203,017.93 $467,412.50 $660,215.12 $132,253.00 $4,783,333.33 Dividend/Interest Paid to Treasury 276 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 $4,510,626.39 $9,139,863.61 $7,190,593.33 $44,286,567.33 $35,195,847.13 Total Cash Back2 $3,800,000.00 $8,073,279.00 $6,229,000.00 $38,237,000.00 $28,893,744.00 Capital Repayment / Disposition / Auction3,5 ($80,732.79) ($433,406.16) Auction Fee4 7/5/2013 1/30/2009 5/14/2014 5/15/2009 5/15/2013 6/6/2012 6/12/2009 10/17/2014 1/9/2009 3/26/2013 2/20/2013 2/27/2009 10/29/2013 9/25/2013 2/13/2009 5/2/2012 4/4/2012 11/14/2008 Rogers Bancshares, Inc., Little Rock, AR8,95,97 Riverside Bancshares, Inc., Little Rock, AR15 River Valley Bancorporation, Inc., Wausau, WI11,14,15 Rising Sun Bancorp, Rising Sun, MD8,116 Ridgestone Financial Services, Inc., Brookfield, WI8,14 Reliance Bancshares, Inc., Frontenac, MO8 Regions Financial Corporation, Birmingham, AL11 $25,000,000.00 $1,100,000.00 $15,000,000.00 $5,983,000.00 $10,900,000.00 $40,000,000.00 $3,500,000,000.00 $738,021.00 $1,622,708.57 $19,928,275.00 $195,637.00 $9,630,106.93 $45,820,950.80 $4,138,055,555.55 $1,718,159.50 $14,594,338.99 $3,135,328.00 $1,100,000.00 $4,500,000.00 $10,500,000.00 $8,966,340.00 $40,000,000.00 $3,500,000,000.00 $1,140,525.00 $246,975.00 $12,700,000.00 $2,655,000.00 $7,970,737.50 $2,995,000.00 ($89,663.40) ($401,960.00) ($11,125.00) $1,500,000.00 $12,700,000.00 $2,655,000.00 $8,755,019.00 $3,570,810.92 3/26/2013 Regional Bankshares, Inc., Hartsville, SC8,14 Regents Bancshares, Inc., Vancouver, WA8,17,62 Regent Capital Corporation/Regent Bank, Nowata, OK8,14,44 $9,982,000.00 $2,995,000.00 ($13,875.00) $3,800,000.00 $8,900,000.00 $6,229,000.00 $38,237,000.00 $32,538,000.00 Investment Amount (CONTINUED) 1/11/2013 11/9/2012 11/8/2012 2/13/2009 1/26/2012 10/23/2009 7/21/2011 2/27/2009 10/17/2014 3/6/2009 8/18/2011 Regent Bancorp, Inc., Davie, FL8,114 Redwood Financial Inc., Redwood Falls, MN8,14,44 1/9/2009 7/21/2011 Redwood Capital Bancorp, Eureka, CA8,14,44 RCB Financial Corporation, Rome, GA8,17 Randolph Bank & Trust Company, Asheboro, NC8 QCR Holdings, Inc., Moline, IL44 Pulaski Financial Corp, Creve Coeur, MO Institution 1/16/2009 10/29/2013 9/25/2013 6/19/2009 9/30/2013 10/30/2009 11/16/2011 9/15/2011 2/13/2009 8/8/2012 7/3/2012 1/16/2009 Transactions Date CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 1,100,000 4,500,000 10,500,000 10,900 40,000 3,500,000 1,233 267 12,700 2,655 1,449,225 2,995 3,800 8,900 6,229 38,237 32,538 Number of Shares Disposed $1.00 $1.00 $1.00 $822.60 $1,004.90 $1,000.00 $925.00 $925.00 $1,000.00 $1,000.00 $5.50 $1,000.00 $1,000.00 $907.11 $1,000.00 $1,000.00 $888.00 Average Price of Shares Disposed ($25,000,000.00) ($5,983,000.00) ($1,933,660.00) ($92,475.00) ($20,025.00) ($2,011,262.50) ($826,721.00) ($3,644,256.00) (Realized Loss) / (Write-off) $196,000.00 Gain5 $55,000.00 $750,000.00 $476,206.83 $2,199,799.80 $45,000,000.00 $50,000.00 $381,000.00 $133,000.00 $150,000.00 $190,000.00 $253,383.25 $311,000.00 $1,100,000.00 $1,100,000.00 $34.32 $1.59 $7.85 $35.34 $11.15 $23.85 $16.15 Stock Price as of Warrant Sales 3/31/2016 Current Outstanding Warrants Continued on next page $738,021.00 $467,708.57 $4,178,275.00 $195,637.00 $277,223.50 $3,827,111.00 $593,055,555.55 $305,659.50 $1,513,338.99 $347,328.00 $784,281.50 $425,810.92 $520,626.39 $893,934.15 $650,593.33 $4,949,567.33 $5,635,509.29 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 277 9/22/2011 2/20/2009 7/31/2013 9/29/2010 12/19/2008 9/29/2010 6/26/2009 9/15/2011 1/9/2009 7/14/2011 1/9/2009 3/26/2013 1/11/2013 12/11/2012 12/10/2012 2/13/2009 9/1/2011 12/23/2008 5/30/2012 4/3/2012 12/19/2008 6/24/2009 5/20/2009 1/16/2009 8/11/2011 3/27/2009 10/21/2011 12/19/2008 4/9/2013 3/8/2013 2/13/2009 2/23/2011 12/15/2010 7/21/2010 12/5/2008 11/2/2011 8/25/2011 3/13/2009 12/23/2008 6/11/2013 12/7/2011 1/16/2009 9/26/2014 7/2/2014 7/1/2014 2/20/2009 Transactions Date Security State Bancshares, Inc., Charleston, MO8,14,44 Security Federal Corporation, Aiken, SC11,36 Security Capital Corporation, Batesville, MS8,11,14,36,111 Security California Bancorp, Riverside, CA8,14,44 Security Business Bancorp, San Diego, CA8,14,44 Security Bancshares of Pulaski County, Inc., Waynesville, MO8,14 Seacoast Commerce Bank, Chula Vista, CA8,14,44 Seacoast Banking Corporation of Florida, Stuart, FL SCBT Financial Corporation, Columbia, SC11 SBT Bancorp, Inc., Simsbury, CT8,14,44 Santa Lucia Bancorp, Atascadero, CA Santa Clara Valley Bank, N.A., Santa Paula, CA8,14 Sandy Spring Bancorp, Inc., Olney, MD11,44 Salisbury Bancorp, Inc., Lakeville, CT44 Saigon National Bank, Westminster, CA8 S&T Bancorp, Indiana, PA11 Royal Bancshares of Pennsylvania, Inc., Narberth, PA Institution $12,500,000.00 $18,000,000.00 $17,388,000.00 $6,815,000.00 $5,803,000.00 $2,152,000.00 $1,800,000.00 $50,000,000.00 $64,779,000.00 $4,000,000.00 $4,000,000.00 $2,900,000.00 $83,094,000.00 $8,816,000.00 $1,549,000.00 $108,676,000.00 $30,407,000.00 Investment Amount $14,888,679.86 $19,650,000.00 $19,063,111.00 $8,152,698.33 $6,888,017.86 $1,983,756.24 $2,153,780.00 $49,045,470.38 $67,294,638.84 $4,717,144.78 $3,131,111.11 $2,697,208.51 $95,137,868.33 $10,100,960.44 $0.00 $124,916,099.34 $36,696,518.83 Total Cash Back2 (CONTINUED) $12,500,000.00 $18,000,000.00 $17,388,000.00 $6,815,000.00 $5,803,000.00 $1,315,959.00 $174,537.72 $1,800,000.00 $41,020,000.00 $64,779,000.00 $4,000,000.00 $2,800,000.00 $2,465,029.00 $41,547,000.00 $41,547,000.00 $8,816,000.00 $108,676,000.00 $21,407,000.00 $9,000,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($10,095.03) ($14,904.97) ($615,300.00) ($25,000.00) ($367,045.94) Auction Fee4 12,500 18,000 17,388 6,815 5,803 1,900 252 1,800 2,000 64,779 4,000 4,000 2,900 41,547 41,547 8,816 108,676 21,407 9,000 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $692.61 $692.61 $1,000.00 $20,510.00 $1,000.00 $1,000.00 $700.00 $850.01 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,207.11 $1,207.11 Average Price of Shares Disposed ($584,041.00) ($77,462.28) ($8,980,000.00) ($1,200,000.00) ($434,971.00) (Realized Loss) / (Write-off) $4,433,603.77 $1,863,990.00 Gain5 $625,000.00 $50,000.00 $522,000.00 $341,000.00 $290,000.00 $69,186.80 $90,000.00 $55,000.00 $1,400,000.00 $200,000.00 $98,251.45 $4,450,000.00 $205,000.00 $527,361.00 $20.50 $19.50 $16.25 $15.79 $7.79 $18.15 $27.83 $31.79 $0.14 $25.76 $2.13 Stock Price as of Warrant Sales 3/31/2016 1,368,041 Current Outstanding Warrants Continued on next page $1,763,679.86 $1,600,000.00 $1,153,111.00 $996,698.33 $795,017.86 $449,072.72 $263,780.00 $8,585,770.38 $1,115,638.84 $517,144.78 $331,111.11 $158,928.06 $7,593,868.33 $1,079,960.44 $15,712,738.34 $358,971.00 Dividend/Interest Paid to Treasury 278 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 $11,000,000.00 5/29/2013 8/8/2012 12/5/2008 8/6/2015 6/29/2015 6/12/2009 5/13/2015 7/21/2011 12/5/2008 8/25/2011 Southwest Bancorp, Inc., Stillwater, OK11 SouthFirst Bancshares, Inc., Sylacauga, AL8 Southern Missouri Bancorp, Inc., Poplar Bluff, MO44 Southern Illinois Bancorp, Inc., Carmi, IL8,14,44 1/23/2009 Southern First Bancshares, Inc., Greenville, SC $70,000,000.00 $2,760,000.00 $9,550,000.00 $5,000,000.00 $4,862,000.00 $17,299,000.00 $42,750,000.00 Southern Community Financial Corp., Winston-Salem, NC Southern Heritage Bancshares, Inc., Cleveland, TN8,14,45 9/8/2011 $12,900,000.00 $347,000,000.00 $3,070,000.00 $8,653,000.00 $7,414,000.00 $120,000,000.00 $1,700,000.00 $25,000,000.00 $23,393,000.00 $10,750,000.00 Investment Amount Southern Bancorp, Inc., Arkadelphia, AR9,11,36 SouthCrest Financial Group, Inc., Fayetteville, GA8,14 South Financial Group, Inc./ Carolina First Bank, Greenville, SC Sound Banking Company, Morehead City, NC8,14 Sonoma Valley Bancorp, Sonoma, CA8,32,97 Somerset Hills Bancorp, Bernardsville, NJ11 Signature Bank, New York, NY11 Signature Bancshares, Inc., Dallas, TX11,14,15 Shore Bancshares, Inc., Easton, MD11 Severn Bancorp, Inc., Annapolis, MD Security State Bank Holding Company, Jamestown, ND14,15 Institution 5/15/2009 7/25/2012 7/3/2012 2/27/2009 10/1/2012 12/5/2008 8/6/2010 1/16/2009 4/9/2013 3/11/2013 3/8/2013 7/17/2009 9/30/2010 12/5/2008 1/11/2013 11/13/2012 1/9/2009 8/20/2010 2/20/2009 6/24/2009 5/20/2009 1/16/2009 3/16/2010 3/31/2009 12/12/2008 12/15/2010 6/26/2009 11/16/2011 4/15/2009 1/9/2009 10/29/2013 9/25/2013 11/21/2008 7/26/2013 6/24/2013 5/1/2009 Transactions Date $85,247,569.91 $3,202,464.28 $13,504,763.89 $5,955,472.22 $5,718,111.14 $19,401,361.89 $51,088,046.14 $11,855,555.56 $13,109,014.25 $146,965,329.86 $3,575,224.44 $347,164.00 $7,816,685.55 $132,967,606.41 $1,994,587.59 $25,358,333.33 $26,915,463.85 $14,543,635.13 Total Cash Back2 (CONTINUED) $70,000,000.00 $2,722,050.00 $9,550,000.00 $5,000,000.00 $4,862,000.00 $15,638,296.00 $42,750,000.00 $11,000,000.00 $9,889,679.00 $1,814,620.00 $130,179,218.75 $2,832,412.70 $7,414,000.00 $120,000,000.00 $1,700,000.00 $25,000,000.00 $23,367,267.70 $10,750,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($25,000.00) ($234,574.44) ($117,042.99) ($25,000.00) ($233,672.68) ($125,346.08) Auction Fee4 70,000 2,760 9,550 5,000 4,862 17,299 42,750 11,000 10,900 2,000 130,179 3,070 7,414 120,000 1,700,000 25,000 23,393 10,750,000 Number of Shares Disposed $1,000.00 $986.25 $1,000.00 $1,000.00 $1,000.00 $904.00 $1,000.00 $1,000.00 $907.31 $907.31 $1,000.00 $922.61 $1,000.00 $1,000.00 $1.00 $1,000.00 $998.90 $1.17 Average Price of Shares Disposed ($37,950.00) ($1,660,704.00) ($1,010,321.00) ($185,380.00) ($216,820,781.25) ($237,587.30) ($8,653,000.00) ($25,732.30) (Realized Loss) / (Write-off) $1,784,607.50 Gain5 $2,287,197.00 $140,617.94 $2,700,000.00 $250,000.00 $243,000.00 $1,100,000.00 $588,264.19 $400,000.00 $124,412.34 $275,000.00 $11,150,939.74 $85,000.00 $25,000.00 $720,368.55 $15.05 $3.30 $24.02 $24.41 $30.85 $6.45 $7.85 $10.15 $136.12 $11.98 $5.05 Stock Price as of Warrant Sales 3/31/2016 172,970 556,976 Current Outstanding Warrants Continued on next page $12,960,372.91 $364,796.34 $1,254,763.89 $705,472.22 $613,111.14 $2,897,640.33 $8,338,046.14 $855,555.56 $933,494.05 $16,386,111.11 $643,399.40 $347,164.00 $127,685.55 $1,816,666.67 $209,587.59 $333,333.33 $3,781,868.83 $1,414,005.16 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 279 3/16/2011 1/12/2011 2/6/2009 10/26/2011 9/1/2011 1/30/2009 9/19/2012 8/20/2012 12/5/2008 6/15/2010 5/5/2009 12/12/2008 5/18/2011 4/27/2011 12/23/2008 12/18/2013 12/28/2011 4/13/2011 12/19/2008 9/1/2011 Stockmens Financial Corporation, Rapid City, SD8,11,14 Stewardship Financial Corporation, Midland Park, NJ44 Sterling Financial Corporation, Spokane, WA31 Sterling Bancshares, Inc., Houston, TX11 Sterling Bancorp, New York, NY11 StellarOne Corporation, Charlottesville, VA11 Steele Street Bank Corporation, Denver, CO15,17,45 9/25/2009 1/18/2012 Stearns Financial Services, Inc., St. Cloud, MN11,14,15 State Street Corporation, Boston, MA12,16 State Capital Corporation, Greenwood, MS8,11,36 State Bankshares, Inc., Fargo, ND8,11 $15,568,000.00 $10,000,000.00 $303,000,000.00 $125,198,000.00 $42,000,000.00 $30,000,000.00 $11,019,000.00 $24,900,000.00 $2,000,000,000.00 $15,000,000.00 $50,000,000.00 $1,697,000.00 $36,842,000.00 State Bancorp, Inc./Valley National Bancorp, Jericho, NY11,61 State Bank of Bartley, Bartley, NE15,17,44 $60,000,000.00 $3,000,000.00 $30,000,000.00 $18,215,000.00 Investment Amount Standard Bancshares, Inc., Hickory Hills, IL8,14,74 St. Johns Bancshares, Inc., St. Louis, MO8 Spirit BankCorp, Inc., Bristow, OK8 Sovereign Bancshares, Inc., Dallas, TX8,14,44 Institution 6/26/2009 7/8/2009 6/17/2009 10/28/2008 9/29/2010 2/13/2009 6/29/2011 8/12/2009 1/16/2009 9/22/2011 9/4/2009 5/27/2015 12/14/2011 12/5/2008 2/22/2013 4/24/2009 3/13/2009 1/6/2014 10/21/2013 3/27/2009 9/22/2011 3/13/2009 Transactions Date $18,101,553.84 $11,400,453.22 $121,757,209.63 $130,542,485.91 $47,869,108.33 $37,191,875.00 $13,078,672.60 $31,495,442.29 $2,123,611,111.12 $17,080,708.67 $58,008,472.23 $2,030,299.18 $42,514,919.19 $75,757,163.03 $1,341,783.00 $11,803,691.75 $21,632,668.61 Total Cash Back2 (CONTINUED) $11,568,000.00 $4,000,000.00 $10,000,000.00 $114,772,740.00 $125,198,000.00 $42,000,000.00 $22,500,000.00 $7,500,000.00 $11,019,000.00 $24,900,000.00 $2,000,000,000.00 $15,000,000.00 $37,500,000.00 $12,500,000.00 $1,697,000.00 $36,842,000.00 $60,000,000.00 $9,000,000.00 $18,215,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($1,434,659.25) ($90,000.00) Auction Fee4 11,568 4,000 10,000 5,738,637 125,198 42,000 22,500 7,500 11,019,000 24,900,000 20,000 15,000 37,500 12,500 1,697,000 36,842 12,903,226 30,000 18,215 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 $20.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1.00 $1.00 $100,000.00 $1,000.00 $1,000.00 $1,000.00 $1.00 $1,000.00 $4.65 $300.00 $1,000.00 Average Price of Shares Disposed ($188,227,260.00) ($21,000,000.00) (Realized Loss) / (Write-off) $3,000,000.00 Gain5 $778,000.00 $107,398.00 $825,000.00 $2,857,914.52 $945,775.00 $2,920,000.00 $331,000.00 $1,245,000.00 $60,000,000.00 $750,000.00 $2,500,000.00 $51,000.00 $100,566.69 $631,941.75 $911,000.00 $5.78 $15.86 $15.93 $24.63 $58.52 Stock Price as of Warrant Sales 3/31/2016 Current Outstanding Warrants Continued on next page $1,755,553.84 $1,293,055.22 $7,594,128.88 $2,486,571.39 $4,923,333.33 $4,271,875.00 $1,728,672.60 $5,350,442.29 $63,611,111.12 $1,330,708.67 $5,508,472.23 $282,299.18 $12,757,163.03 $1,341,783.00 $2,261,750.00 $2,506,668.61 Dividend/Interest Paid to Treasury 280 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 $3,500,000,000.00 $89,310,000.00 $8,500,000.00 $15,000,000.00 $10,973,000.00 Investment Amount TCB Corporation/ Country Bank, Greenwood, SC15,17,45 Taylor Capital Group, Rosemont, IL Syringa Bancorp, Boise, ID8,103 Synovus Financial Corp., Columbus, GA11 Sword Financial Corporation, Horicon, WI14,15,44 SVB Financial Group, Santa Clara, CA12,16 SV Financial, Inc., Sterling, IL8,11,14 Susquehanna Bancshares, Inc, Lititz, PA11 Surrey Bancorp, Mount Airy, NC8,11,14 8/3/2011 12/23/2008 12/21/2009 4/22/2009 11/14/2008 12/13/2013 TCNB Financial Corp., Dayton, OH8,11,14 TCF Financial Corporation, Wayzata, MN11 TCB Holding Company, Texas Community Bank, The Woodlands, TX8,97,100 1/16/2009 9/8/2011 8/28/2009 7/18/2012 6/19/2012 11/21/2008 1/31/2014 1/16/2009 7/26/2013 12/19/2008 9/15/2011 5/8/2009 6/16/2010 12/23/2009 12/12/2008 8/31/2011 4/10/2009 1/19/2011 12/22/2010 4/21/2010 12/12/2008 12/29/2010 1/9/2009 4/15/2011 12/5/2008 9/28/2011 Superior Bancorp Inc., Birmingham, AL24,49,97 $2,000,000.00 $361,172,000.00 $11,730,000.00 $9,720,000.00 $104,823,000.00 $8,000,000.00 $967,870,000.00 $13,644,000.00 $235,000,000.00 $4,000,000.00 $300,000,000.00 $2,000,000.00 $69,000,000.00 $1,350,000,000.00 3/30/2011 12/31/2008 SunTrust Banks, Inc., Atlanta, GA11 Sun Bancorp, Inc., Vineland, NJ11 Summit State Bank, Santa Rosa, CA44 Suburban Illinois Bancorp, Inc., Elmhurst, IL15,123 Stonebridge Financial Corp., West Chester, PA8,14 Institution 11/14/2008 5/27/2009 4/8/2009 1/9/2009 9/14/2011 8/4/2011 12/19/2008 7/16/2015 6/19/2009 4/9/2013 3/27/2013 3/26/2013 1/23/2009 Transactions Date $2,384,611.11 $378,547,699.45 $690,832.08 $11,611,381.34 $120,845,170.80 $253,122.22 $1,190,614,526.39 $17,019,233.91 $253,929,027.78 $4,721,382.89 $328,991,401.58 $2,314,972.22 $4,983,333.33 $5,448,052,772.51 $92,513,970.83 $9,930,625.00 $24,929,429.70 $2,652,816.96 Total Cash Back2 (CONTINUED) $2,000,000.00 $361,172,000.00 $9,720,000.00 $93,659,350.50 $967,870,000.00 $13,644,000.00 $235,000,000.00 $4,000,000.00 $100,000,000.00 $200,000,000.00 $2,000,000.00 $4,850,000,000.00 $89,310,000.00 $8,500,000.00 $15,000,000.00 $107,935.66 $1,796,209.03 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($1,404,890.26) ($25,000.00) Auction Fee4 2,000 361,172 9,720,000 104,823 967,870 13,644,000 235,000 4,000 100,000 200,000 2,000 48,500 89,310 8,500 15,000,000 622 10,351 Number of Shares Disposed $1,000.00 $1,000.00 $1.00 $893.50 $1,000.00 $1.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $100,000.00 $1,000.00 $1,000.00 $1.00 $173.53 $173.53 Average Price of Shares Disposed ($11,730,000.00) ($11,163,649.50) ($8,000,000.00) ($69,000,000.00) ($514,064.34) ($8,554,790.97) (Realized Loss) / (Write-off) Gain5 $100,000.00 $9,449,980.56 $292,000.00 $9,839,273.00 $682,000.00 $6,820,000.00 $200,000.00 $5,269,179.36 $100,000.00 $30,066,661.40 $2,100,000.00 $315,000.00 $750,000.00 $8,358.99 $130,704.17 $12.26 $28.91 $102.05 $33.27 $11.70 $36.08 $20.71 $13.25 Stock Price as of Warrant Sales 3/31/2016 2,215,820 Current Outstanding Warrants Continued on next page $284,611.11 $7,925,718.89 $690,832.08 $1,599,381.34 $18,751,437.56 $253,122.22 $222,744,526.39 $2,693,233.91 $12,109,027.78 $521,382.89 $23,722,222.22 $214,972.22 $4,983,333.33 $567,986,111.11 $1,103,970.83 $1,115,625.00 $9,179,429.70 $634,609.11 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 281 $75,000,000.00 $3,000,000.00 $30,000,000.00 Investment Amount $3,981,000.00 Texas Capital Bancshares, Inc., Dallas, TX11 Tennessee Valley Financial Holdings, Inc., Oak Ridge, TN8,14 Tennessee Commerce Bancorp, Inc., Franklin, TN63,97 Institution $4,021,000.00 9/27/2010 3/31/2010 6/26/2009 12/19/2012 The Hartford Financial Services Group, Inc. Hartford CT11 The Freeport State Bank, Harper, KS8,11,14 2/6/2009 The First Bancshares, Inc., Hattiesburg, MS11,36 The First Bancorp, Inc., Damariscotta, ME11 The Elmira Savings Bank, FSB, Elmira, NY44 The Connecticut Bank and Trust Company, Hartford, CT The Baraboo Bancorporation, Inc., Baraboo, WI8,14 $3,400,000,000.00 $301,000.00 $731,000.00 $5,000,000.00 $25,000,000.00 $9,090,000.00 $5,448,000.00 $20,749,000.00 $34,000,000.00 The Bank of Kentucky Financial Corporation, Crestview Hills, KY11 The First State Bank of Mobeetie, Mobeetie, TX8,11,14 4/14/2010 $45,220,000.00 The Bank of Currituck, Moyock, NC8 2/27/2009 5/13/2015 9/29/2010 2/6/2009 5/28/2015 5/8/2013 3/27/2013 8/24/2011 1/9/2009 5/6/2015 8/25/2011 12/19/2008 4/19/2012 12/19/2008 1/11/2013 12/11/2012 12/10/2012 1/16/2009 5/29/2013 11/23/2011 12/22/2010 2/13/2009 12/3/2010 2/6/2009 9/8/2010 3/10/2010 12/12/2008 The Bancorp, Inc., Wilmington, DE12,16 $20,000,000.00 The ANB Corporation, Terrell, TX8,14,44 8/25/2011 8/7/2009 Texas National Bancorporation, Jacksonville, TX8,11,14 5/19/2010 1/9/2009 3/17/2010 5/13/2009 1/16/2009 5/31/2013 4/29/2013 4/26/2013 12/23/2008 1/27/2012 12/19/2008 Transactions Date $4,236,125,671.00 $379,458.89 $813,086.56 $5,714,215.56 $29,722,063.78 $11,795,867.07 $6,902,866.33 $18,023,831.85 $40,091,342.55 $1,912,684.00 $52,787,673.44 $23,234,499.98 $4,475,307.67 $82,777,816.21 $3,331,713.17 $3,233,333.33 Total Cash Back2 (CONTINUED) $3,400,000,000.00 $301,000.00 $731,000.00 $5,000,000.00 $10,000,000.00 $2,500,000.00 $12,500,000.00 $9,090,000.00 $5,448,000.00 $11,577,672.70 $1,956,900.00 $17,000,000.00 $17,000,000.00 $1,742,850.00 $45,220,000.00 $20,000,000.00 $3,981,000.00 $75,000,000.00 $2,702,000.00 $298,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($135,345.73) ($25,000.00) Auction Fee4 3,400,000 301 731 5,000 10,000 2,500 12,500 9,090 5,448 17,749 3,000 17,000 17,000 4,021 45,220 20,000 3,981 75,000 2,702 298 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $652.30 $652.30 $1,000.00 $1,000.00 $433.44 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,022.11 $1,022.11 Average Price of Shares Disposed ($6,171,327.30) ($1,043,100.00) ($2,278,150.00) ($30,000,000.00) (Realized Loss) / (Write-off) $59,741.22 $6,588.78 Gain5 $706,264,559.89 $15,000.00 $37,000.00 $302,410.00 $389,077.67 $1,486,292.07 $792,783.00 $455,316.35 $403,161.92 $2,150,648.55 $4,753,984.55 $1,000,000.00 $199,000.00 $6,559,066.21 $124,922.63 $19,218.87 $19.51 $18.01 $26.89 $1.61 $33.27 $5.72 $38.38 Stock Price as of Warrant Sales 3/31/2016 276,078 Current Outstanding Warrants Continued on next page $129,861,111.11 $63,458.89 $45,086.56 $411,805.56 $4,332,986.11 $1,219,575.00 $662,083.33 $3,766,126.61 $3,940,694.00 $169,834.00 $2,813,688.89 $2,234,499.98 $295,307.67 $1,218,750.00 $146,241.67 $3,233,333.33 Dividend/Interest Paid to Treasury 282 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 $5,677,000.00 $37,000,000.00 Three Shores Bancorporation, Inc. (Seaside National Bank & Trust), Orlando, FL8,21 $1,505,000.00 $541,000.00 $12,000,000.00 $5,450,000.00 $7,579,200,000.00 $7,500,000.00 $15,000,000.00 Investment Amount $14,448,000.00 TIB Financial Corp, Naples, FL Tidelands Bancshares, Inc, Mount Pleasant, SC $12,119,637.37 $3,877,691.40 $1,165,528.32 $2,046,000.00 $11,478,575.00 $244,225.00 $5,450,000.00 $7,579,200,000.00 $7,359,000.00 $15,000,000.00 Capital Repayment / Disposition / Auction3,5 $18,857,818.52 $223,208.00 9/22/2011 12/19/2008 9/22/2011 3/27/2009 8/6/2015 12/21/2012 2/15/2011 1/16/2009 5/15/2013 9/22/2011 12/12/2008 9/25/2013 2/6/2009 4/4/2012 4/3/2009 6/11/2013 1/11/2013 11/13/2012 Tri-County Financial Corporation, Waldorf, MD8,14,44 Triad Bancorp, Inc., Frontenac, MO8,14,44 Treaty Oak Bancorp, Inc., Austin, TX8 TowneBank, Portsmouth, VA45 Todd Bancshares, Inc., Hopkinsville, KY8 Titonka Bancshares, Inc, Titonka, IA8,11,14 $15,540,000.00 $3,700,000.00 $3,268,000.00 $76,458,000.00 $4,000,000.00 $2,117,000.00 $18,653,115.75 $4,386,324.64 $2,412,702.03 $88,577,166.67 $5,210,672.22 $2,569,490.36 $15,540,000.00 $3,700,000.00 $150,000.00 $500,000.00 $76,458,000.00 $4,000,000.00 $2,117,000.00 $9,481,462.50 $1,580,962.50 $16,641,000.00 $3,800,000.00 11/9/2012 Timberland Bancorp, Inc., Hoquiam, WA Tifton Banking Company, Tifton, GA8,47,97 11/8/2012 12/23/2008 11/12/2010 4/17/2009 12/19/2008 $1,195,973.33 $13,444,359.59 $6,449,130.64 $2,322,183.20 $13,065,246.00 $6,474,752.14 $8,320,638,950.83 $9,232,652.17 $17,580,291.55 Total Cash Back2 (CONTINUED) $3,290,437.50 9/30/2010 12/5/2008 1/11/2013 11/9/2012 11/8/2012 1/23/2009 9/22/2011 12/11/2009 2/27/2009 4/9/2013 3/11/2013 1/9/2009 The Victory Bancorp, Inc., Limerick, PA8,18,21,44 The Queensborough Company, Louisville, GA8,14 3/8/2013 9/1/2011 The Private Bank of California, Los Angeles, CA8,14,44 The PNC Financial Services Group Inc., Pittsburgh, PA11 The Little Bank, Incorporated, Kinston, NC8,14 The Landrum Company, Columbia, MO8,14,44 Institution 2/20/2009 5/5/2010 2/10/2010 12/31/2008 1/11/2013 10/31/2012 12/23/2008 8/18/2011 5/22/2009 Transactions Date CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($143,528.63) ($50,432.20) ($117,228.00) ($73,590.00) Auction Fee4 15,540 3,700 150,000 3,118 76,458 4,000 2,117 10,993 1,833 3,815 12,120 4,365 1,312 2,046 11,750 250 5,450 75,792 7,500 15,000 Number of Shares Disposed $1,000.00 $1,000.00 $1.00 $160.36 $1,000.00 $1,000.00 $1,000.00 $862.50 $862.50 $862.50 $1,000.00 $888.36 $888.36 $1,000.00 $976.90 $976.90 $1,000.00 $100,000.00 $981.20 $1,000.00 Average Price of Shares Disposed ($2,618,000.00) ($1,511,537.50) ($252,037.50) ($524,562.50) ($3,800,000.00) ($24,880,362.63) ($487,308.60) ($146,471.68) ($271,425.00) ($5,775.00) ($141,000.00) (Realized Loss) / (Write-off) Gain5 $777,000.00 $185,000.00 $1,570,287.00 $1,500,000.00 $200,000.00 $106,000.00 $1,301,856.00 $40,000.00 $282,284.64 $61,000.00 $571,967.55 $4,806.45 $273,000.00 $320,372,284.16 $371,250.00 $750,000.00 $19.19 $12.64 $30.85 $84.57 Stock Price as of Warrant Sales 3/31/2016 3,098,341 571,821 Current Outstanding Warrants Continued on next page $2,336,115.75 $501,324.64 $192,415.03 $10,619,166.67 $1,010,672.22 $346,490.36 $3,346,628.65 $223,208.00 $1,195,973.33 $1,284,722.22 $1,174,058.48 $215,183.20 $882,900.00 $751,752.14 $421,066,666.67 $1,575,992.17 $1,830,291.55 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 283 Trinity Capital Corporation, Los Alamos, NM8,14 Institution Tri-State Bank of Memphis, Memphis, TN8,9,11 TriState Capital Holdings, Inc., Pittsburgh, PA8,11 9/26/2012 5/13/2015 9/3/2010 12/23/2008 7/18/2012 6/19/2012 1/16/2009 9/26/2014 7/2/2014 2/20/2009 12/23/2009 11/18/2009 United Bancorporation of Alabama, Inc., Atmore, AL11,36 United Bancorp, Inc., Tecumseh, MI United American Bank, San Mateo, CA8 Union First Market Bankshares Corporation, Bowling Green, VA12,16,25 12/19/2008 10/2/2013 7/25/2012 Union Financial Corporation, Albuquerque, NM8,11,17 Union Bank & Trust Company, Oxford, NC8,14,18,44,45 12/29/2009 9/22/2011 12/18/2009 5/1/2009 3/31/2010 2/17/2010 11/14/2008 11/6/2009 Umpqua Holdings Corp., Portland, OR12,16 UCBH Holdings, Inc., San Francisco, CA22,97 11/14/2008 8/11/2011 UBT Bancshares, Inc., Marysville, KS8,14,44 U.S. Century Bank, Miami, FL8,122 U.S. Bancorp, Minneapolis, MN11 Two Rivers Financial Group, Burlington, IA8,14,44 Trustmark Corporation, Jackson, MS11 1/30/2009 3/17/2015 8/7/2009 7/15/2009 6/17/2009 11/14/2008 9/1/2011 5/29/2009 12/30/2009 12/9/2009 11/21/2008 1/11/2013 $10,300,000.00 $20,600,000.00 $8,700,000.00 $59,000,000.00 $2,179,000.00 $2,997,000.00 $3,194,000.00 $214,181,000.00 $298,737,000.00 $8,950,000.00 $50,236,000.00 $6,599,000,000.00 $12,000,000.00 $215,000,000.00 $4,237,000.00 11/29/2012 $2,765,000.00 TriSummit Bank, Kingsport, TN8,14,18 12/22/2009 $23,000,000.00 $2,795,000.00 $35,539,000.00 Investment Amount 4/3/2009 2/27/2009 8/13/2010 4/3/2009 9/11/2012 8/10/2012 8/9/2012 8/7/2012 3/27/2009 Transactions Date $11,182,763.89 $20,315,924.72 $3,432,657.85 $62,145,972.22 $2,639,873.33 $7,031,291.65 $232,156,554.58 $7,509,920.07 $10,634,911.78 $13,070,409.40 $6,933,220,416.67 $14,075,133.27 $236,287,500.00 $6,496,417.16 $28,642,402.33 $2,985,215.11 $34,644,476.74 Total Cash Back2 (CONTINUED) $10,300,000.00 $17,005,300.00 $3,319,050.00 $59,000,000.00 $1,579,000.00 $600,000.00 $6,191,000.00 $214,181,000.00 $8,950,000.00 $11,738,143.76 $6,599,000,000.00 $12,000,000.00 $215,000,000.00 $5,251,500.00 $23,000,000.00 $2,795,000.00 $16,984,909.75 $7,038,845.50 $2,639,379.50 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($255,079.50) ($25,000.00) ($52,515.00) ($266,631.35) Auction Fee4 10,300 20,600 8,700 59,000 1,579 600 6,191 214,181 8,950 50,236 6,599,000 12,000 215,000 7,002 23,000 2,795 22,639 9,382 3,518 Number of Shares Disposed $1,000.00 $825.50 $381.50 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $233.66 $1,000.00 $1,000.00 $1,000.00 $750.00 $1,000.00 $1,000.00 $750.25 $750.25 $750.25 Average Price of Shares Disposed ($3,594,700.00) ($5,380,950.00) ($298,737,000.00) ($38,497,856.24) ($1,750,500.00) ($5,654,090.25) ($2,343,154.50) ($878,620.50) (Realized Loss) / (Write-off) Gain5 $10,125.00 $38,000.00 $138,607.85 $450,000.00 $65,000.00 $160,000.00 $4,500,000.00 $450,000.00 $586,953.92 $139,000,000.00 $600,000.00 $10,000,000.00 $124,665.75 $1,150,000.00 $191,948.33 $1,300,776.05 $163,062.90 $9.07 $24.63 $15.86 $40.59 $23.50 $23.03 Stock Price as of Warrant Sales 3/31/2016 Current Outstanding Warrants Continued on next page $872,638.89 $3,527,704.22 $7,935,831.57 $395,873.33 $680,291.65 $13,475,554.58 $7,509,920.07 $1,234,911.78 $745,311.72 $195,220,416.67 $1,475,133.27 $11,287,500.00 $1,172,766.41 $4,492,402.33 $190,215.11 $6,592,186.06 Dividend/Interest Paid to Treasury 284 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 $2,296,800.00 $7,700,000.00 $2,258,000.00 $7,742,000.00 $2,861,000.00 $11,926,000.00 $9,168,561.50 $237,527.50 $10,325,000.00 $10,324,000.00 $2,658,000.00 $3,000,000.00 $159,145,525.00 $12,587,575.00 $1,516,900.00 $14,400,000.00 Capital Repayment / Disposition / Auction3,5 8/25/2011 6/26/2009 5/24/2010 12/23/2009 9/23/2009 6/3/2009 11/14/2008 9/22/2011 12/18/2009 11/13/2013 10/16/2013 8/14/2013 5/15/2013 Veritex Holdings, Inc. (Fidelity Resources Company), Dallas, TX8,41,44 Valley National Bancorp, Wayne, NJ11 Valley Financial Group, Ltd., 1st State Bank, Saginaw, MI8,14,44 $3,000,000.00 $300,000,000.00 $1,300,000.00 $3,503,795.81 $318,400,781.94 $1,489,774.73 $3,000,000.00 $100,000,000.00 $125,000,000.00 $75,000,000.00 $1,300,000.00 3,000 100,000 125,000 75,000 1,300 9,619 $9,619,000.00 1,600 1,600 1,600 5,500 7,700 2,258 7,742 2,861 11,926,000 9,650 250 10,325 10,324 2,658 3,000 165,346 13,078 1,576 14,400,000 Number of Shares Disposed 1,600 ($25,000.00) ($94,060.89) ($1,732,500.00) Auction Fee4 $1,600,000.00 $1,600,000.00 $1,600,000.00 Valley Financial Corporation, Roanoke, VA11 $21,311,670.48 $2,947,090.75 $9,403,400.50 $12,916,040.83 $3,465,216.00 $12,948,886.40 $12,066,668.65 $28,013,814.50 $6,649,963.92 $210,367,527.00 $18,882,079.62 Total Cash Back2 2/20/2013 $16,019,000.00 $5,500,000.00 $7,700,000.00 $10,000,000.00 $2,861,000.00 $11,926,000.00 $9,900,000.00 $20,649,000.00 $5,658,000.00 $180,000,000.00 $14,400,000.00 Investment Amount $1,600,000.00 Valley Community Bank, Pleasanton, CA8 Valley Commerce Bancorp, Visalia, CA8,11,14 Uwharrie Capital Corp, Albemarle, NC8,11 US Metro Bank, Garden Grove, CA8 University Financial Corp, Inc., St. Paul, MN9,11,15 Universal Bancorp, Bloomfield, IN8 Unity Bancorp, Inc., Clinton, NJ11 United Financial Banking Companies, Inc., Vienna, VA8,11,44 United Community Banks, Inc., Blairsville, GA United Bank Corporation, Barnesville, GA11,14,15 Institution (CONTINUED) 11/14/2012 12/12/2008 1/6/2014 10/21/2013 1/9/2009 3/21/2012 1/30/2009 10/16/2013 4/3/2013 12/23/2008 3/23/2016 2/6/2009 7/30/2010 6/19/2009 9/12/2013 8/12/2013 8/8/2013 5/22/2009 8/28/2013 7/3/2013 5/15/2013 12/5/2008 9/15/2011 12/15/2010 1/16/2009 6/10/2013 4/9/2013 3/28/2013 3/27/2013 3/26/2013 12/5/2008 7/3/2012 5/22/2009 Transactions Date CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $417.60 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1.00 $950.11 $950.11 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $962.50 $962.50 $962.50 $1.00 Average Price of Shares Disposed ($3,203,200.00) ($481,438.50) ($12,472.50) ($6,200,475.00) ($490,425.00) ($59,100.00) (Realized Loss) / (Write-off) Gain5 $150,000.00 $5,421,615.27 $65,000.00 $1,547,891.58 $45,815.25 $385,000.00 $500,000.00 $143,000.00 $476,573.62 $2,707,314.00 $283,000.00 $6,677.00 $720,000.00 $9.54 $12.00 $15.70 $4.36 $1.76 $11.37 $20.35 $18.47 Stock Price as of Warrant Sales 3/31/2016 488,847 Current Outstanding Warrants Continued on next page $353,795.81 $18,551,519.17 $124,774.73 $3,744,778.90 $629,475.50 $1,318,400.50 $2,416,040.83 $461,216.00 $1,022,886.40 $2,278,066.92 $4,657,500.50 $708,963.92 $38,843,350.00 $3,762,079.62 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 285 5/26/2010 12/23/2009 10/28/2008 6/8/2011 12/29/2010 10/13/2010 3/3/2010 11/21/2008 3/26/2013 2/8/2013 2/7/2013 2/6/2013 6/26/2009 8/4/2011 10/30/2009 1/30/2009 3/15/2010 5/27/2009 11/14/2008 3/2/2011 1/12/2011 1/16/2009 12/16/2009 11/24/2009 12/19/2008 4/23/2014 1/30/2013 4/4/2012 12/11/2009 9/15/2011 1/30/2009 8/1/2012 12/19/2008 7/10/2013 12/28/2012 4/24/2009 9/12/2013 8/12/2013 8/8/2013 6/12/2009 1/31/2014 12/11/2012 12/12/2008 1/6/2014 11/19/2013 5/1/2009 Transactions Date Wells Fargo & Co., Minneapolis, MN11 Webster Financial Corporation, Waterbury, CT11 Waukesha Bankshares, Inc., Waukesha, WI8,17 WashingtonFirst Bankshares, Inc., Reston, VA8,18,21,44 Washington Federal, Inc., Seattle, WA11 Washington Banking Company, Oak Harbor, WA11,16 Wainwright Bank & Trust Company, Boston, MA11 Wachusett Financial Services, Inc., Clinton, MA8,11,17 W.T.B. Financial Corporation, Spokane, WA8,14,45 VIST Financial Corp., Wyomissing, PA Vision Bank - Texas, Richardson, TX8,11,14 Virginia Company Bank, Newport News, VA8,17 Virginia Commerce Bancorp, Arlington, VA11 Village Bank and Trust Financial Corp, Midlothian, VA Institution $25,000,000,000.00 $400,000,000.00 $5,625,000.00 $6,842,000.00 $6,633,000.00 $200,000,000.00 $26,380,000.00 $22,000,000.00 $12,000,000.00 $110,000,000.00 $25,000,000.00 $1,500,000.00 $4,700,000.00 $71,000,000.00 $14,738,000.00 Investment Amount $27,281,347,113.95 $457,333,286.51 $6,398,893.44 $15,317,317.86 $220,749,985.18 $30,628,344.45 $23,592,311.11 $14,731,826.23 $131,236,874.33 $30,710,646.33 $1,898,258.59 $3,694,442.50 $118,453,138.89 $6,933,870.05 Total Cash Back2 (CONTINUED) $25,000,000,000.00 $200,000,000.00 $100,000,000.00 $100,000,000.00 $290,119.70 $92,690.00 $4,831,002.80 $13,475,000.00 $200,000,000.00 $26,380,000.00 $22,000,000.00 $5,000,000.00 $4,000,000.00 $3,000,000.00 $110,000,000.00 $25,000,000.00 $712,500.00 $787,500.00 $2,543,620.14 $325,353.86 $71,000,000.00 $5,672,361.44 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($52,138.13) ($25,000.00) ($56,723.61) Auction Fee4 25,000 200,000 100,000 100,000 313 100 5,212 13,475 200,000 26,380 22,000 5,000 4,000 3,000 110,000 25,000 713 788 4,167 533 71,000 14,738 Number of Shares Disposed $1,000,000.00 $1,000.00 $1,000.00 $1,000.00 $926.90 $926.90 $926.90 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $610.42 $610.42 $1,000.00 $384.88 Average Price of Shares Disposed ($22,880.30) ($7,310.00) ($380,997.20) ($1,623,379.86) ($207,646.14) ($9,065,638.56) (Realized Loss) / (Write-off) Gain5 $840,374,891.73 $20,388,842.06 $147,194.69 $18,644.66 $332,000.00 $15,388,874.07 $1,625,000.00 $568,700.00 $478,000.00 $5,500,000.00 $1,189,813.00 $75,000.00 $63,481.25 $33,263,000.00 $48.36 $35.90 $22.65 $17.57 $64.00 $36.70 $18.91 Stock Price as of Warrant Sales 3/31/2016 31,189 Current Outstanding Warrants Continued on next page $1,440,972,222.22 $36,944,444.45 $1,071,379.72 $1,510,317.86 $5,361,111.11 $2,623,344.45 $1,023,611.11 $2,253,826.23 $15,736,874.33 $4,520,833.33 $323,258.59 $786,987.25 $14,190,138.89 $1,318,232.22 Dividend/Interest Paid to Treasury 286 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 $52,625,000.00 $2,720,000.00 $250,000,000.00 6/11/2013 6/10/2013 9/18/2012 $13,312,000.00 1/16/2009 Yadkin Valley Financial Corporation, Elkin, NC $36,000,000.00 WSFS Financial Corporation, Wilmington, DE Worthington Financial Holdings, Inc., Huntsville, AL8,14 Wintrust Financial Corporation, Lake Forest, IL11 $62,158,000.00 $330,000,000.00 $300,000,000.00 $16,800,000.00 $4,700,000.00 7/24/2009 9/12/2012 4/3/2012 1/23/2009 7/26/2013 6/24/2013 5/15/2009 2/14/2011 12/22/2010 12/19/2008 6/20/2012 4/3/2012 12/12/2008 5/13/2011 Wilshire Bancorp, Inc., Los Angeles, CA Wilmington Trust Corporation/M&T Bank Corporation, Wilmington, DE11 12/12/2008 6/3/2011 Whitney Holding Corporation, New Orleans, LA White River Bancshares Company, Fayetteville, AR8 Western Reserve Bancorp, Inc, Medina, OH8,11,78 12/19/2008 9/26/2014 7/2/2014 7/1/2014 2/20/2009 11/30/2012 5/15/2009 1/11/2013 11/9/2012 11/8/2012 $6,855,000.00 $4,567,000.00 Western Illinois Bancshares Inc., Monmouth, IL8,14,18 $7,290,000.00 $140,000,000.00 $83,726,000.00 $36,000,000.00 $75,000,000.00 Investment Amount 12/29/2009 Western Community Bancshares, Inc., Palm Desert, CA8,117 Western Alliance Bancorporation, Las Vegas, NV44 Westamerica Bancorporation, San Rafael, CA11 West Bancorporation, Inc., West Des Moines, IA11 WesBanco, Inc., Wheeling, WV11 Institution 12/23/2008 11/7/2014 12/23/2008 11/23/2011 9/27/2011 11/21/2008 11/21/2011 11/18/2009 9/2/2009 2/13/2009 8/31/2011 6/29/2011 12/31/2008 12/23/2009 9/9/2009 12/5/2008 Transactions Date $52,383,419.85 $57,640,856.64 $2,780,391.21 $300,704,730.81 $68,809,170.52 $369,920,833.33 $343,733,333.33 $20,275,427.10 $5,842,197.92 $13,053,910.87 $554,083.00 $160,365,000.00 $87,360,236.61 $41,195,000.00 $78,804,166.67 Total Cash Back2 (CONTINUED) $44,149,056.00 $48,157,663.75 $2,343,851.20 $250,000,000.00 $58,646,694.58 $330,000,000.00 $300,000,000.00 $15,500,000.00 $1,300,000.00 $4,700,000.00 $9,673,015.37 $1,050,524.72 $140,000,000.00 $41,863,000.00 $41,863,000.00 $36,000,000.00 $75,000,000.00 Capital Repayment / Disposition / Auction3,5 CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 ($662,235.84) ($722,364.96) ($24,999.99) ($879,700.42) ($178,619.28) ($107,235.41) Auction Fee4 49,312 52,625 2,720 250,000 62,158 330,000 300,000 15,500 1,300 4,700 10,305 1,117 140,000 41,863 41,863 36,000 75,000 Number of Shares Disposed $895.30 $915.11 $861.71 $1,000.00 $943.51 $1,000.00 $1,000.00 $1,063.21 $1,063.21 $1,000.00 $938.67 $940.49 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 Average Price of Shares Disposed ($5,162,944.00) ($4,467,336.25) ($376,148.80) ($3,511,305.42) ($631,984.63) ($66,475.28) ($7,290,000.00) (Realized Loss) / (Write-off) $979,755.00 $82,173.00 Gain5 $20,000.00 $55,677.00 $1,800,000.00 $90,940.00 $25,600,564.15 $760,000.00 $6,900,000.00 $1,002,535.38 $235,000.00 $335,417.06 $415,000.00 $878,256.00 $700,000.00 $950,000.00 $23.67 $32.52 $44.34 $10.30 $8.43 $33.38 $48.71 $18.23 $29.71 Stock Price as of Warrant Sales 3/31/2016 91,178 128,663 95,383 246,698 Current Outstanding Warrants Continued on next page $8,820,922.69 $8,405,557.85 $370,600.00 $25,104,166.66 $10,282,176.36 $36,833,333.33 $1,589,583.00 $907,197.92 $2,102,189.13 $554,083.00 $19,950,000.00 $2,755,980.61 $4,495,000.00 $4,242,500.00 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 287 Zions Bancorporation, Salt Lake City, UT11 York Traditions Bank, York, PA8,14,45 Institution $1,661,027,529.62 $5,705,022.14 Total Cash Back2 $204,894,726,320.00 $226,656,125,753.43 $1,400,000,000.00 $4,871,000.00 Investment Amount Auction Fee4 $199,570,950,334.37 ($38,027,858.19) $700,000,000.00 $700,000,000.00 $4,871,000.00 Capital Repayment / Disposition / Auction3,5 (CONTINUED) 700,000 700,000 4,871 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 Average Price of Shares Disposed Gain5 ($5,069,497,481.92) $6,906,966,060.44 (Realized Loss) / (Write-off) $7,666,418.51 $244,000.00 Current Outstanding Warrants $253,361,111.11 $590,022.14 Dividend/Interest Paid to Treasury 3 2 1 Continued on next page All pricing is at par. Total Cash Back includes net capital repayments, interest and dividends, warrant proceeds, and other income (less expenses). Capital Repayments includes gross capital repayments, gross auction proceeds, exchanges into CDCI, and SBLF fundings. 4 Includes: (i) placement fees in private auctions of a CPP issuer’s securities where Treasury pays placement fees to the placement agents in an amount equal to a minimum of $50,000 (per issuer) or 1.00% of gross aggregate proceeds for each security and (ii) unreimbursed underwriting fees in public offerings. Placement fees in private auctions are paid approximately one month after settlement. 5 Net proceeds from sales and auctions can be calculated by adding the “Amount” and “(Fee)” columns under the “Capital Repayment / Disposition / Auction” plus any amount in the “Gain” column. Note that “(Fee)” is a negative number. 6 This transaction was included in previous Transaction Reports with Merrill Lynch & Co., Inc. listed as the qualifying institution and a 10/28/2008 transaction date, footnoted to indicate that settlement was deferred pending merger. The purchase of Merrill Lynch by Bank of America was completed on 1/1/2009, and this transaction under the CPP was funded on 1/9/2009. 7 The warrant disposition proceeds amount are stated pro rata in respect of the CPP investments in Bank of America Corporation that occurred on 10/28/2008 and 1/9/2009. The total net disposition proceeds from CPP warrants on 3/3/2010 was $305,913,040, consisting of $183,547,824 and $122,365,216. Proceeds from the disposition of TIP warrants on 3/3/2010 appear on a following page of this report. 8 Privately-held qualified financial institution; Treasury received a warrant to purchase additional shares of preferred stock (unless the institution is a CDFI), which it exercised immediately. 9 promote community development financial institutions (CDFIs), Treasury does not require warrants as part of its investment in certified CDFIs when the size of the investment is $50 million or less. To 10 Treasury cancelled the warrants received from this institution due to its designation as a CDFI. 11 Repayment pursuant to Title VII, Section 7001(g) of the American Recovery and Reinvestment Act of 2009. 12 Redemption pursuant to a qualified equity offering. 13 This amount does not include accrued and unpaid dividends, which must be paid at the time of capital repayment. 14 The proceeds associated with the disposition of this investment do not include accrued and unpaid dividends. 15 Subchapter S corporation; Treasury received a warrant to purchase additional subordinated debentures (unless the institution is a CDFI), which it exercised immediately. 16 its qualified equity offering, this institution raised more capital than Treasury’s original investment, therefore, the number of Treasury’s shares underlying the warrant was reduced by half. In 17 This institution participated in the expansion of CPP for small banks. 18 This institution received an additional investment through the expansion of CPP for small banks. 19 Treasury made three separate investments in Citigroup Inc. (Citigroup) under the CPP, Targeted Investment Program (TIP), and Asset Guarantee Program (AGP) for a total of $49 billion. On 6/9/2009, Treasury entered into an agreement with Citigroup to exchange up to $25 billion of Treasury’s investment in Fixed Rate Cumulative Perpetual Preferred Stock, Series H (CPP Shares) “dollar for dollar” in Citigroup’s Private and Public Exchange Offerings. On 7/23/2009 and 7/30/2009, Treasury exchanged a total of $25 billion of the CPP shares for Series M Common Stock Equivalent (“Series M”) and a warrant to purchase shares of Series M. On 9/11/2009, Series M automatically converted to 7,692,307,692 shares of common stock and the associated warrant terminated on receipt of certain shareholder approvals. 20 8/24/2009, Treasury exchanged its series C preferred stock issued by Popular, Inc. for a like amount of non tax-deductible trust preferred securities issued by Popular Capital Trust III, administrative trustee for Popular, Inc. Popular, Inc. paid a $13 million exchange fee in connection with this transaction. On 21 This institution converted to a bank holding company structure and Treasury exchanged its securities for a like amount of securities that comply with the CPP terms applicable to bank holding companies. The institution in which Treasury’s original investment was made is shown in parentheses. 22 of the date of this report, this institution is in bankruptcy proceedings. As 23 12/10/2009, the bankruptcy reorganization plan of CIT Group Inc. became effective and Treasury’s preferred stock and warrant investment were extinguished and replaced by contingent value rights (CVRs). On 2/8/2010, the CVRs expired without value as the terms and conditions for distribution of common shares to On holders of CVRs were not met. 24 12/11/2009, Treasury exchanged its series A preferred stock issued by Superior Bancorp, Inc. for a like amount of non tax-deductible Trust Preferred Securities issued by Superior Capital Trust II, administrative trustee for Superior Bancorp. On 25 2/1/2010, following the acquisition of First Market Bank (First Market) by Union Bankshares Corporation (the acquiror), the preferred stock and exercised warrants issued by First Market on 2/6/2009 were exchanged for a like amount of securities of the acquiror in a single series but with a blended dividend rate On equivalent to those of Treasury’s original investment. 26 2/11/2010, Pacific Coast National Bancorp dismissed its bankruptcy proceedings with no recovery to any creditors or investors, including Treasury, and the investment was extinguished. On 27 3/8/2010, Treasury exchanged its $84,784,000 of preferred stock in Midwest Banc Holdings, Inc. (MBHI) for $89,388,000 of mandatory convertible preferred Stock (MCP), which is equivalent to the initial investment amount of $84,784,000, plus $4,604,000 of capitalized previously accrued and unpaid dividends. On Subject to the fulfillment by MBHI of the conditions related to its capital plan, the MCP may be converted to common stock. 28 3/30/2010, Treasury exchanged its $7,500,000 of subordinated debentures in GulfSouth Private Bank for an equivalent amount of preferred stock, in connection with its conversion from a Subchapter S-Corporation, that comply with the CPP terms applicable to privately held qualified financial institutions. On 29 4/16/2010, Treasury exchanged its $72,000,000 of preferred stock in Independent Bank Corporation (Independent) for $74,426,000 of mandatory convertible preferred Stock (MCP), which is equivalent to the initial investment amount of $72,000,000, plus $2,426,000 of capitalized previously accrued and unpaid On dividends. On 7/26/2013, Treasury entered into a securities purchase agreement with Independent pursuant to which Treasury agreed to sell to Independent the MCP and the warrant issued by Independent, subject to the conditions specified in such agreement. On 8/30/2013, Treasury completed the sale of the MCP and warrant to Independent pursuant to the terms of such agreement. 30 Treasury received Citigroup common stock pursuant to the June 2009 Exchange Agreement between Treasury and Citigroup which provided for the exchange into common shares of the preferred stock that Treasury purchased in connection with Citigroup’s participation in the Capital Purchase Program (see note 11). On April 26, 2010, Treasury gave Morgan Stanley & Co. Incorporated (Morgan Stanley) discretionary authority as its sales agent to sell subject to certain parameters up to 1,500,000,000 shares of the common stock from time to time during the period ending on June 30, 2010 (or on completion of the sale). Completion of the sale under this authority occurred on May 26, 2010. On May 26, 2010, Treasury again gave Morgan Stanley discretionary authority as its sales agent to sell subject to certain parameters up to 1,500,000,000 shares of the common stock from time to time during the period ending on June 30, 2010 (or on completion of the sale). Completion of the sale under this authority occurred on June 30, 2010. On July 23, 2010, Treasury again gave Morgan Stanley discretionary authority as its sales agent to sell subject to certain parameters up to 1,500,000,000 shares of the common stock from time to time during the period ending on September 30, 2010 (or on completion of the sale). Completion of the sale under this authority occurred on September 30, 2010. On October 19, 2010, Treasury gave Morgan Stanley & Co. Incorporated (Morgan Stanley) discretionary authority, as its sales agent, to sell subject to certain parameters up to 1,500,000,000 shares of common stock from time to time during the period ending on December 31, 2010 (or upon completion of the sale), which plan was terminated on December 6, 2010. All such sales were generally made at the market price. On December 6, 2010, Treasury commenced an underwritten public offering of its remaining 2,417,407,607 shares. See “Capital Purchase Program - Citigroup, Inc., Common Stock Disposition” on following page for the actual number of shares sold by Morgan Stanley, the weighted average price per share and the total proceeds to Treasury from all such sales during those periods. 31 8/26/2010, Treasury completed the exchange of its $303,000,000 of preferred stock in Sterling Financial Corporation (Sterling) for a like amount of mandatorily convertible preferred Stock (MCP), pursuant to the terms of the exchange agreement between Treasury and Sterling entered into on 4/29/2010. Since On Sterling also fulfilled the conversion conditions set forth in the Certificate of Designations for the MCP, including those related to its capital plan, Treasury’s $303,000,000 of MCP was subsequently, as of 8/26/2010, converted into 378,750,000 shares of common stock. 32 8/20/2010, Sonoma Valley Bank, Sonoma, CA, the banking subsidiary of Sonoma Valley Bancorp, was closed by the California Department of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. On 33 6/30/2010, Treasury exchanged $46,400,000 of its series A preferred stock in First Merchants Corporation for a like amount of non tax-deductible Trust Preferred Securities issued by First Merchants Capital Trust III. On 32 8/20/2010, Sonoma Valley Bank, Sonoma, CA, the banking subsidiary of Sonoma Valley Bancorp, was closed by the California Department of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. On 33 6/30/2010, Treasury exchanged $46,400,000 of its series A preferred stock in First Merchants Corporation for a like amount of non tax-deductible Trust Preferred Securities issued by First Merchants Capital Trust III. On 34 7/20/2010, Treasury completed the exchange of its $400,000,000 of preferred stock in First BanCorp for $424,174,000 of mandatorily convertible preferred Stock (MCP), which is equivalent to the initial investment amount of $400,000,000, plus $24,174,000 of capitalized previously accrued and unpaid dividends. On On 10/7/2011, following the completion of the conversion conditions set forth in the Certificate of Designations for the MCP, all of Treasury’s MCP was converted into 32,941,797 shares of common stock of First BanCorp. Treasury received all accrued and previously unpaid dividends on the MCP at the time of the conversion. First BanCorp has agreed to have a Treasury observer attend board of directors meetings. Sources: Treasury, Transactions Report, 3/25/2016; Treasury, Dividends and Interest Report, 4/11/2016. *Investment Status Definition Key Full investment outstanding - Treasury’s full investment is still outstanding Redeemed – institution has repaid Treasury’s investment Sold – by auction, an offering, or through a restructuring Exited bankruptcy/receivership - Treasury has no outstanding investment Currently not collectible - investment is currently not collectible; therefore there is no outstanding investment and a corresponding (Realized Loss) / (Write-off) In full – all of Treasury’s investment amount In part – part of the investment is no longer held by Treasury, but some remains Warrants outstanding – Treasury’s warrant to purchase additional stock is still outstanding, including any exercised warrants Warrants not outstanding – Treasury has disposed of its warrant to purchase additional stock through various means as described in the Warrant Report (such as sale back to company and auctions) or Treasury did not receive a warrant to purchase additional stock. $24.21 Stock Price as of Warrant Sales 3/31/2016 $8,065,534,497.60 Notes: Numbers may not total due to rounding. Data as of 3/31/2016. Numeric notes were taken verbatim from Treasury’s 3/25/2016, Transactions Report. All amounts and totals reflect cumulative receipts from inception through 3/31/2016. Total 12/5/2012 9/26/2012 3/28/2012 11/14/2008 7/14/2011 4/24/2009 Transactions Date CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 288 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 35 (CONTINUED) Continued on next page 8/31/2010, following the completion of the conditions related to Pacific Capital Bancorp’s (Pacific Capital) capital plan, Treasury exchanged its $180,634,000 of preferred stock in Pacific Capital for $195,045,000 of mandatorily convertible preferred Stock (MCP), which is equivalent to the initial investment amount On of $180,634,000, plus $14,411,000 of capitalized previously accrued and unpaid dividends. On 9/27/2010, following the completion of the conversion conditions set forth in the Certificate of Designations for the MCP, all of Treasury’s MCP was converted into 360,833,250 shares of common stock of Pacific Capital. Following a reverse stock split effective 12/28/10, Treasury held 3,608,332 shares of Pacific Capital common stock. Effective 11/30/2012, Pacific Capital merged with and into UnionBanCal Corporation and each outstanding share of common stock of the Company was converted into the right to receive $46.00 per share in cash, and Treasury received $165,983,272 in respect of its common stock and $393,121 in respect of its warrant. 36 This institution qualified to participate in the Community Development Capital Initiative (CDCI), and has completed an exchange of its Capital Purchase Program investment for an investment under the terms of the CDCI program. See “Community Development Capital Initiative” below. 37 the time of this institution’s exchange into the CDCI program, the warrant preferreds were included in the total amount of preferred stock exchanged for Treasury’s CDCI investment. Therefore this disposition amount does not represent cash proceeds to Treasury. At 38 9/30/2010, Treasury completed the exchange of its $80,347,000 of preferred stock in Hampton Roads Bankshares, Inc. (Hampton) for a like amount of mandatorily convertible preferred Stock (MCP), pursuant to the terms of the exchange agreement between Treasury and Hampton entered into on 8/12/2010. Since On Hampton also fulfilled the conversion conditions set forth in the Certificate of Designations for the MCP, Treasury’s $80,347,000 of MCP was subsequently converted into 52,225,550 shares of common stock. 39 Treasury entered into an agreement on 1/28/2011 with North American Financial Holdings, Inc. for the sale of all preferred stock and warrants issued by Capital Bank Corporation to Treasury for an aggregate purchase price of $41,279,000. Since the conditions to closing of the sale were satisfied, the closing of the sale also occurred on 1/28/2011. 40 2/18/2011, Treasury completed the exchange of its $135,000,000 of preferred stock (including accrued and unpaid dividends thereon) in Central Pacific Financial Corp. for not less than 5,620,117 shares of common stock, pursuant to an exchange agreement dated 2/17/2011. On 41 a result of the acquisition of Fidelity Resources Company (the acquired company) by Veritex Holdings, Inc. (the acquiror), the preferred stock and exercised warrants issued by the acquired company on 6/26/2009 were exchanged for a like amount of securities of the acquiror, pursuant to the terms of an agreement As among Treasury, the acquired company and the acquiror entered into on 3/23/2011. 42 a result of the acquisition of NC Bancorp, Inc. (the acquired company) by Metropolitan Bank Group, Inc. (the acquiror), Treasury exchanged $6,880,000 of its preferred stock in NC Bancorp, Inc. and $71,526,000 of its preferred stock in Metropolitan Bank Group, Inc. for $81,892,000 of a new series of preferred stock As in Metropolitan Bank Group, Inc., which is equivalent to the combined initial investment amount of $78,406,000 plus $3,486,000 of capitalized previously accrued and unpaid dividends, pursuant to the terms of an agreement among Treasury, the acquired company and the acquiror entered into on 3/30/2011. Exercised warrants were also exchanged at the time of the agreement. 43 7/5/2011, Treasury completed a transaction with Harris Financial Corp., a wholly-owned subsidiary of Bank of Montreal (“BMO”), for the sale of (i) all Marshall & Ilsley Corporation (“M&I”) Preferred Stock held by Treasury for a purchase price of $1,715,000,000 plus accrued dividends and (ii) the Treasury-held M&I On Warrant for an amount equal to $3,250,000, pursuant to the terms of the agreement between Treasury and BMO entered into on 5/16/2011. 44 Repayment pursuant to Title VII, Section 7001(g) of the American Recovery and Reinvestment Act of 2009 using proceeds received in connection with the institution’s participation in the Small Business Lending Fund. 45 Repayment pursuant to Title VII, Section 7001(g) of the American Recovery and Reinvestment Act of 2009 - part of the repayment amount obtained from proceeds received in connection with the institution’s participation in the Small Business Lending Fund. 46 11/5/2010, Pierce Commercial Bank, Tacoma, WA, the banking subsidiary of Pierce County Bancorp, was closed by the Washington Department of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. On 47 11/12/2010, Tifton Banking Company, Tifton, GA, was closed by the Georgia Department of Banking & Finance, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. On 48 3/11/2011, Legacy Bank, Milwaukee, WI, the banking subsidiary of Legacy Bancorp, Inc., was closed by the State of Wisconsin Department of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. On 49 4/15/2011, Superior Bank, Birmingham, AL, the banking subsidiary of Superior Bancorp Inc., was closed by the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. On 50 7/15/2011, First Peoples Bank, Port Saint Lucie, Florida, the banking subsidiary of FPB Bancorp, Inc., was closed by the Florida Office of Financial Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. On 51 7/15/2011, One Georgia Bank, Atlanta, GA was closed by the State of Georgia Department of Banking & Finance, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. On 52 7/29/2011, Integra Bank, National Association, Evansville, Indiana, the banking subsidiary of Integra Bank Corporation, was closed by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. On 53 10/21/2011, Treasury completed the exchange of all FNB United Corp. (“FNB United”) preferred stock and warrants held by Treasury for 108,555,303 shares of FNB United common stock and an amended and restated warrant, pursuant to the terms of the agreement between Treasury and FNB United entered into on On 8/12/2011. 54 a result of the acquisition of Berkshire Bancorp, Inc. (the acquired company) by Customers Bancorp, Inc. (the acquiror), the preferred stock and exercised warrants issued by the acquired company on 6/12/2009 were exchanged for a like amount of securities of the acquiror plus accrued and previously unpaid As dividends, pursuant to the terms of an agreement among Treasury, the acquired company and the acquiror entered into on 9/16/2011. 55 9/23/2011, Citizens Bank of Northern California, Nevada City, California, the banking subsidiary of Citizens Bancorp, was closed by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. On 56 Repayment pursuant to Title VII, Section 7001(g) of the American Recovery and Reinvestment Act of 2009 in connection with the institution’s participation in the Small Business Lending Fund, which occurred at a later date. 57 10/14/2011, Country Bank, Aledo, Illinois, the banking subsidiary of CB Holding Corp., was closed by the Illinois Department of Financial and Professional Regulation - Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. On 58 a result of a reincorporation transaction whereby Crescent Financial Corporation (CFC) was merged into Crescent Financial Bancshares, Inc. (CFB), the preferred stock and warrant issued by CFC on 1/9/2009 were exchanged for a like amount of securities of CFB, pursuant to the terms of an agreement among As Treasury, CFC and CFB entered into on 11/15/2011. 59 a result of the acquisition of Center Financial Corporation by BBCN Bancorp, Inc. (formerly Nara Bancorp, Inc.), the preferred stock and warrant issued by Center Financial Corporation were exchanged for a like amount of securities of BBCN Bancorp, Inc., pursuant to the terms of an agreement among Treasury, Center As Financial Corporation, and BBCN Bancorp, Inc. entered into on 11/30/2011. 60 1/3/2012, Treasury completed (i) the sale to F.N.B. Corporation (“F.N.B.”) of all of the preferred stock that had been issued to Treasury by Parkvale Financial Corporation (“Parkvale”) for a purchase price of $31,762,000 plus accrued dividends and (ii) the exchange of the Parkvale warrant held by Treasury for a like On F.N.B. warrant, pursuant to the terms of the agreement between Treasury and F.N.B. entered into on 12/29/2011 in connection with the merger of Parkvale and F.N.B. effective 1/1/2012. 61 a result of the acquisition of State Bancorp, Inc. (the acquired company) by Valley National Bancorp (the acquiror), the warrant issued by the acquired company on 12/5/2008 was exchanged for a like security of the acquiror, pursuant to the terms of an agreement among Treasury, the acquired company and the As acquiror entered into on 1/1/2012. 62 1/27/2012, pursuant to the terms of the merger of Regents Bancshares, Inc. (“Regents”) with Grandpoint Capital, Inc., Treasury received $13,214,858.00 (representing the par amount together with accrued and unpaid dividends thereon) in respect of the preferred stock (including that received from the exercise of On warrants) that had been issued to Treasury by Regents. 63 1/27/2012, Tennessee Commerce Bank, Franklin, TN, the banking subsidiary of Tennessee Commerce Bancorp, Inc., was closed by the Tennessee Department of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. On 64 2/10/2012, SCB Bank, Shelbyville, Indiana, the banking subsidiary of Blue River Bancshares, Inc., was closed by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. On 65 2/10/2012, Treasury entered into an agreement with Broadway Financial Corporation to exchange Treasury’s $15,000,000 of preferred stock for common stock. The exchange is subject to the fulfillment by Broadway Financial Corporation of certain conditions, including the satisfactory completion of a capital plan. On 66 4/20/2012, Fort Lee Federal Savings Bank, FSB, Fort Lee, New Jersey, was closed by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. On 67 a result of the acquisition of Community Holding Company of Florida, Inc. (the acquired company) by Community Bancshares of Mississippi, Inc. (the acquiror), the preferred stock and exercised warrants issued by the acquired company on 2/6/2009 were exchanged for a like amount of securities of the acquiror, As pursuant to the terms of an agreement among Treasury, the acquired company and the acquiror entered into on 7/19/2012. 68 7/13/2012, Glasgow Savings Bank, Glasgow, MO, the banking subsidiary of Gregg Bancshares, Inc. , was closed by the Missouri Division of Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. On 69 7/27/2012, Treasury entered into an agreement with Pinnacle Bank Holding Company, Inc. (“Pinnacle”) pursuant to which Treasury agreed to sell its CPP preferred stock back to Pinnacle at a discount subject to the satisfaction of the conditions specified in the agreement. On 70 10/19/2012, GulfSouth Private Bank, Destin, Florida, was closed by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. On 71 10/19/2012, Excel Bank, Sedalia, Missouri, the banking subsidiary of Investors Financial Corporation of Pettis County, Inc., was closed by the Missouri Division of Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. On 72 10/25/2012, pursuant to the terms of the merger of First Community Bancshares, Inc. (“First Community”) and Equity Bancshares, Inc. (“Equity”), Treasury received a like amount of preferred stock and exercised warrants from Equity in exchange for Treasury’s original investment in First Community, plus accrued and On unpaid dividends, pursuant to a placement agency agreement executed on 10/23/2012. 73 10/29/2012, First Place Financial Corp. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. On 74 2/22/2013, Treasury completed the exchange of its Standard Bancshares, Inc. preferred stock for common stock, pursuant to an exchange agreement, dated as of 11/5/2012, with Standard Bancshares, Inc., and immediately sold the resulting Standard Bancshares, Inc. common stock, pursuant to securities On purchase agreements, each dated as of 11/5/2012, with W Capital Partners II, L.P., Trident SBI Holdings, LLC, PEPI Capital, LP, LCB Investment, LLC, Cohesive Capital Partners, L.P., and Athena Select Private Investment Fund LLC. 75 11/2/2012, Citizens First National Bank, Princeton, IL, the banking subsidiary of Princeton National Bancorp, was closed by the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. On 76 11/13/2012, Treasury entered into an agreement with Community Financial Shares, Inc. (“CFS”) pursuant to which Treasury agreed to sell its CPP preferred stock back to CFS at a discount subject to the satisfaction of the conditions specified in the agreement. On 77 connection with the merger of Fidelity Bancorp, Inc. (“Fidelity”) and WesBanco, Inc. (“WesBanco”) effective 1/1/2012, Treasury (i) sold to WesBanco all of the preferred stock that had been issued by Fidelity to Treasury for a purchase price of $7,000,000 plus accrued dividends and (ii) exchanged the Fidelity warrant In held by Treasury for a like WesBanco warrant, pursuant to the terms of an agreement among Treasury and WesBanco entered into on 11/28/2012. 78 11/30/2012, Western Reserve Bancorp, Inc. was acquired by an affiliate of Westfield Bancorp, Inc. Pursuant to the terms of the merger, each outstanding share of Series A and Series B preferred stock issued to Treasury was redeemed for the respective principal amount together with accrued and unpaid dividends On thereon. 79 2/20/2013, Treasury sold its CPP preferred stock and warrant issued by First Sound Bank (“First Sound”) back to First Sound for an aggregate purchase price of $3,700,000, pursuant to the terms of the agreement between Treasury and First Sound entered into on 11/30/2012. On 80 4/9/2013, Treasury sold its CPP preferred stock and warrant issued by PremierWest Bancorp (“PremierWest”) pursuant to an agreement with PremierWest and Starbuck Bancshares, Inc. (“Starbuck”) entered into on 12/11/2012. On 81 connection with the merger of Community Financial Corporation (“Community Financial”) and City Holding Company (“City Holding”) effective 1/9/2013, Treasury (i) sold to City Holding all of the preferred stock that had been issued by Community Financial to Treasury for a purchase price of $12,643,000 plus accrued In dividends and (ii) exchanged the Community Financial warrant held by Treasury for a like City Holding warrant, pursuant to the terms of an agreement among Treasury and City Holding entered into on 1/9/2013. 82 1/29/2013, Treasury executed a placement agency agreement pursuant to which Treasury agreed to sell 9,950 shares of Coastal Banking Company, Inc. Preferred stock at $815.00 per share (less a placement agent fee) for net proceeds of $8,028,157.50. On 2/6/2013, the placement agent notified Coastal On Banking Company, Inc. that, pursuant to the placement agency agreement, it was terminating the transaction and, therefore, Treasury did not receive any proceeds or pay any fees in connection with the transaction. 83 2/15/2013, Treasury sold its CPP preferred stock and warrant issued by BancTrust Financial Group, Inc. (“BancTrust”) pursuant to an agreement with BancTrust and Trustmark Corporation (“Trustmark”) entered into on 2/11/2013. On 84 8/14/2013, Treasury sold its CPP preferred stock issued by Florida Bank Group, Inc. (“FBG”) back to FBG for an aggregate purchase price of $8,000,000, pursuant to the terms of the agreement between Treasury and FBG entered into on 2/12/2013. On 85 2/15/2013, pursuant to the terms of the merger of Pacific International Bancorp, Inc. (“Pacific International”) with BBCN Bancorp, Inc. (“BBCN”), Treasury received $7,474,619.97 (representing the par amount together with accrued and unpaid dividends thereon) in respect of the preferred stock that had been issued to On Treasury by Pacific International. Treasury exchanged its Pacific International warrant for an equivalent warrant issued by BBCN. 86 4/12/2013, Treasury completed (i) the sale of its CPP preferred in Citizens Republic Bancorp, Inc. (Citizens Republic) to FirstMerit Corporation (FirstMerit) and (ii) the exchange of its warrant in Citizens Republic for a warrant issued by FirstMerit, pursuant to a securities purchase agreement, dated as of 2/19/2013, On among Treasury, FirstMerit and Citizens Republic. 87 4/11/2013, Treasury completed the exchange of its First Security Group, Inc. (FSGI) preferred stock for common stock, pursuant to an exchange agreement, dated as of 2/25/2013, between Treasury and FSGI, and sold the resulting FSGI common stock, pursuant to securities purchase agreements, each dated as of On 4/9/2013, between Treasury and the purchasers party thereto. 88 3/19/2013, Treasury exercised its warrant on a cashless basis and received (i) 186,589 shares of common stock and (ii) $71.62 in cash in lieu of fractional shares. Treasury sold such shares of common stock on 3/19/2013. On 89 a result of the acquisition of ECB Bancorp, Inc. by Crescent Financial Bancshares, Inc., the preferred stock and warrant issued by ECB Bancorp, Inc. were exchanged for a like amount of securities of Crescent Financial Bancshares, Inc., pursuant to the terms of an agreement among Treasury, ECB Bancorp, Inc., and As Crescent Financial Bancshares, Inc. entered into on 4/1/2013. 90 a result of the merger of Annapolis Bancorp, Inc. into F.N.B. Corporation, the warrant issued by Annapolis Bancorp, Inc. was exchanged for a like warrant issued by F.N.B. Corporation, pursuant to the terms of an agreement among Treasury, Annapolis Bancorp, Inc., and F.N.B. Corporation entered into on 4/6/2013. As 91 4/5/2013, Gold Canyon Bank, Gold Canyon, Arizona was closed by the Arizona Department of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. On 92 4/9/2013, Indiana Bank Corp. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Indiana. On CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 289 (CONTINUED) Sources: Treasury, Transactions Report, 3/25/2016; Dividends and Interest Report, 4/11/2016; Treasury, response SIGTARP data call, 4/4/2016; Yahoo! Finance, finance.yahoo.com, accessed 4/1/2016. 93 7/17/2013, Treasury entered into a securities purchase agreement with Central Virginia Bankshares, Inc. (CVB) and C&F Financial Corporation (C&F) pursuant to which Treasury agreed to sell to C&F the CPP preferred stock and warrant issued by CVB, subject to the conditions specified in such agreement. The sale was On completed on 10/1/2013. 94 8/12/2013, Anchor BanCorp Wisconsin Inc. ( “Anchor”) filed a voluntary petition for Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of Wisconsin to implement a “pre-packaged” Plan of Reorganization in order to facilitate the restructuring of Anchor. On 9/27/ 2013, the Plan of Reorganization On became effective in accordance with its terms, pursuant to which (i) Treasury’s preferred stock was exchanged for 60,000,000 shares of common stock (the “Common Stock”) and (ii) Treasury’s warrant was cancelled. On 9/27/2013, Treasury sold the Common Stock to purchasers pursuant to securities purchase agreements entered into on 9/19/2013. 95 7/5/2013, Rogers Bancshares, Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Arkansas. On 96 8/22/2013, Treasury exchanged its preferred stock in Broadway Financial Corporation for 10,146 shares of common stock equivalent representing (i) 50% of the liquidation preference of the preferred stock, plus (ii) 100% of previously accrued and unpaid dividends on the preferred stock ($2,646,000). The common On stock equivalent will be converted to common stock upon the receipt of certain shareholder approvals. 97 This institution has entered into bankruptcy or receivership. For a full list of institutions that have entered bankruptcy or receivership and Treasury’s remaining investments, reference appendices B and C in the section titled “Capital Purchase Program Institutions” in the most recent report to congress found on Treasury’s website: http://www.treasury.gov/initiatives/financial-stability/reports/Pages/Monthly-Report-to-Congress.aspx. 98 10/30/2013, Treasury entered into an agreement with Monarch Community Bancorp, Inc. (Monarch) to exchange Treasury’s CPP warrant and $6,785,000 of preferred stock for common stock. The exchange was subject to the fulfillment by Monarch of certain conditions, including the satisfactory completion of a On capital plan. On 11/15/2013, the exchange of the CPP warrant and preferred stock for common stock was completed and Treasury sold such common stock to purchasers pursuant to securities purchase agreements dated as of 11/15/2013. 99 12/5/2013, Treasury’s 10,146 shares of common stock equivalent in Broadway Financial converted to 10,146,000 shares of common stock. On 100 n 12/13/2013, Texas Community Bank, National Association, The Woodlands, Texas, the banking subsidiary of TCB Holding Company, was closed by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. O 101 s a result of a reincorporation merger of Community Bankers Trust Corporation, a Delaware corporation (CBTC Delaware) into Community Bankers Trust Corporation, a Virginia corporation (CBTC Virginia), the outstanding preferred stock and warrant issued by CBTC Delaware were exchanged for a like amount of A securities issued by CBTC Virginia, pursuant to the terms of an agreement among Treasury, CBTC Delaware and CBTC Virginia entered into on 1/1/2014. 102 n 10/15/2013, Treasury entered into a securities purchase agreement with First-Citizens Bank & Trust Company (FCBTC) and 1st Financial Services Corporation (FFSC) pursuant to which Treasury agreed to sell to FCBTC the CPP preferred stock and warrant issued by FFSC, subject to the conditions specified in such O agreement. The sale was completed on 12/31/2013. 103 n 1/31/2014, Syringa Bank, Boise, Idaho, the banking subsidiary of Syringa Bancorp, was closed by the Idaho Department of Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. O 104 n 4/1/2014, pursuant to the terms of the merger of Alaska Pacific Bancshares, Inc. with Northrim Bancorp, Inc., Treasury received $2,370,908.26 for the warrants that had been issued to Treasury by Alaska Pacific Bancshares, Inc. O 105 n 4/18/2014, Treasury entered into an agreement with Bank of the Carolinas Corporation (“BCAR”) pursuant to which Treasury agreed to sell its CPP preferred stock and warrant back to BCAR at a discount subject to the satisfaction of the conditions specified in the agreement. The sale was completed on 7/16/2014. O 106 n 4/24/2014, Treasury sold all of its preferred stock issued by Bankers’ Bank of the West Bancorp, Inc. (BBW) to private investors for total proceeds of $13.5 million, pursuant to securities purchase agreements dated as of April 21, 2014. BBW paid all accrued and unpaid dividends on the preferred stock as of April 24, O 2014. 107 n 4/25/2014, Treasury entered into a securities purchase agreement with Provident Community Bankshares, Inc. (PCBS) and Park Sterling Corporation (Park Sterling) pursuant to which Treasury agreed to sell to Park Sterling the CPP preferred stock and warrant issued by PCBS, subject to the conditions specified in O such agreement. The sale was completed on 4/30/2014. 108 n 4/24/2014, Idaho Bancorp filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Idaho. On 11/25/2014, the bankruptcy court for the District of Idaho confirmed Idaho Bancorp’s amended plan of reorganization. On 8/5/2015 and 9/29/2015, UST received net distributions of $427,844.29 O and $3,522.87, respectively, from Idaho Bancorp (after payment to the Department of Justice of a 3% litigation fee). 109 n 4/30/2014, Treasury completed the exchange of its Northern States Financial Corporation preferred stock for common stock, pursuant to an exchange agreement, dated as of 4/29/2014, with Northern States Financial Corporation, and immediately sold the resulting Northern States Financial Corporation common O stock, pursuant to securities purchase agreements, each dated as of 4/29/2014, with Blue Pine Financial Opportunities Fund II, LP, EJF Sidecar Fund, Series LLC, Endeavour Regional Bank Opportunities Fund L.P., Endeavour Regional Bank Opportunities Fund II L.P., Hot Creek Investors, L.P.,JCSD Partners, LP, and PRB Investors, LP. 110 n 5/23/2014 Treasury completed the sale of its CommunityOne Bancorp common stock in an underwritten public offering. O 111 n 5/30/2014, Treasury entered into a securities purchase agreement with Highlands Independent Bancshares, Inc. (“Highlands”) and HCBF Holding Company, Inc. (“HCBF”) pursuant to which Treasury agreed to sell to HCBF the CPP preferred stock issued by Highlands, subject to the conditions specified in such O agreement. The sale was completed on 10/24/2014. 112 n 6/30/2014, BCB Holding Company, Inc. (the “Institution”) repurchased their preferred and warrant preferred shares from Treasury and funds were wired from the Institution to the Bank of New York Mellon (BNYM) for the benefit of Treasury. The repurchase was finalized after the close of business on 6/30/2014 and the O funds were subsequently transferred from BNYM to Treasury on 7/1/2014. 113 n 8/28/2014, Treasury entered into an agreement with Central Bancorp, Inc. and Hanmi Financial Corporation, in connection with a merger, pursuant to which Treasury agreed to sell its Central Bancorp, Inc. CPP preferred stock (including warrant preferred stock) to Hanmi Financial Corporation for (i) $23,625,000, plus O (ii) all accrued and unpaid dividends, subject to the satisfaction of the conditions specified in the agreement. The sale was completed on 8/29/2014. 114 n 10/17/2014, Treasury completed the exchange of its Regent Bancorp, Inc. preferred stock and warrant-preferred stock for common stock, pursuant to an exchange agreement, dated as of 10/16/2014, with Regent Bancorp, Inc., and immediately sold the resulting Regent Bancorp, Inc. common stock to purchasers O pursuant to securities purchase agreements dated as of 10/16/2014. 115 n 10/30/2014, Treasury entered into an agreement with Columbia Banking System, Inc. (Columbia) pursuant to which Treasury agreed to sell its warrant in Intermountain Community Bancorp to Columbia subject to the satisfaction of the conditions specified in the agreement. The sale was completed on 10/31/2014. O 116 he subsidiary bank of Rising Sun Bancorp, NBRS Financial, was closed by the Maryland Office of the Commissioner of Financial Regulation, and the FDIC was named Receiver on Friday, 10/17/2014. T 117 he subsidiary bank of Western Community Bancshares, Inc., Frontier Bank, was closed by the Office of the Comptroller of the Currency, and the FDIC was named Receiver on Friday, 11/7/2014. T 118 n 9/8/2014, Treasury gave Credit Suisse Securities (USA) LLC discretionary authority, as its sales agent, to sell subject to certain parameters shares of common stock from time to time during the period ending on 12/7/2014. Completion of the sale under this authority occurred on December 5, 2014. O 119 n 12/10/2014, Treasury sold all of its preferred stock issued by NCAL Bancorp to purchasers for total proceeds of $3.9 million, pursuant to a securities purchase agreement dated as of November 25, 2014. O 120 s a result of the merger of Farmers & Merchants Bancshares, Inc. into Allegiance Bancshares, Inc., the outstanding preferred stock and warrant preferred stock issued by Farmers & Merchants Bancshares, Inc. was exchanged for a like amount of securities issued by Allegiance Bancshares, Inc., pursuant to the terms of A an agreement among Treasury, Farmers & Merchants Bancshares, Inc. and Allegiance Bancshares, Inc., entered into on 1/1/2015. 121 n 12/11/2014, Treasury gave Credit Suisse Securities (USA) LLC discretionary authority, as its sales agent, to sell subject to certain parameters shares of common stock from time to time during the period ending on 3/8/2015. Completion of the sale under this authority occurred on 3/6/2015. O 122 n 3/17/2015, Treasury sold all of its preferred stock issued by U.S. Century Bank to purchasers for total proceeds of $12.3 million, pursuant to a securities purchase agreement dated as of March 17, 2015. O 123 n 7/15/2015, Treasury entered into an agreement with Suburban Illinois Bancorp, Inc. (Suburban), pursuant to which Treasury agreed to sell its CPP senior subordinated securities to Suburban for (i) $15,750,000, plus (ii) all accrued and unpaid dividends through 4/1/2015 subject to the conditions specified in such O agreement. This transaction was in conjunction with a merger between Suburban and Wintrust Financial Corporation. The sale was completed on 7/16/2015. 124 n 8/4/2015, Treasury entered into an agreement with City National Bancshares Corporation (the “Company”) pursuant to which Treasury agreed to sell its CPP preferred stock back to the Company at a discount subject to the satisfaction of the conditions specified in the agreement. The sale was completed on O 8/7/2015. 125 n 3/4/2011, Treasury completed the sale to Community Bancorp LLC (“CBC”) of all Preferred Stock and Warrants issued by Cadence Financial Corporation (“Cadence”) to Treasury for an aggregate purchase price of $39,014,062.50, pursuant to the terms of the agreement between Treasury and CBC entered into on O 10/29/2010. 126 n 8/27/2015, Treasury entered into an agreement with Patapsco Bancorp, Inc. and Howard Bancorp, Inc., in connection with a merger pursuant to which Treasury agreed to sell its Patapsco Bancorp, Inc. CPP preferred stock (including warrant preferred stock) to Howard Bancorp, Inc. for (i) $6,300,000, plus (ii) all O accrued and unpaid dividends, subject to the satisfaction of the conditions specified in the agreement. The sale was completed on 8/28/2015. 127 n 9/18/2015, Treasury entered into an agreement with Goldwater Bank, N.A. and Kent Wiechert, pursuant to which Treasury agreed to sell all of its CPP preferred stock issued by Goldwater Bank, N.A.to Wiechert for total proceeds of $1,348,000 subject to the satisfaction of conditions specified in the agreement. The O sale was completed on 9/21/2015. 128 n 10/2/2015, Treasury completed the exchange of its Capital Commerce Bancorp, Inc. preferred stock and warrant-preferred stock for common stock pursuant to an exchange agreement of the same date with Capital Commerce Bancorp, Inc. The consideration for that exchange included accrued and unpaid dividends O through June 30, 2015. As part of the exchange transaction, Treasury immediately sold the resulting Capital Commerce Bancorp, Inc. common stock to purchasers pursuant to securities purchase agreements, each dated as of 10/2/2015, with the purchaser parties thereto. 129 n 11/13/2015, Treasury received $3.88 million from the Department of Justice as a payment related to the United States’ $4.00 million False Claims Act action against the estate and trusts of the late Layton P. Stuart, former owner, president, and Chief Executive Officer of One Financial Corporation. O 130 n 12/23/2015, Treasury completed the exchange of its CalWest Bancorp preferred stock and warrant-preferred stock for common stock pursuant to an exchange agreement of the same date with CalWest Bancorp. As part of that transaction, Treasury immediately sold the resulting CalWest Bancorp common stock to O purchasers pursuant to securities purchase agreements, each dated as of 12/23/2015, with the purchaser parties thereto. CPP TRANSACTIONS DETAIL, AS OF 3/31/2016 290 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 7/23/2010 - 9/30/2010 10/19/2010 - 12/6/2010 12/6/2010 3 4 5 $4.35 $4.26 $3.91 $3.90 $4.12 Pricing Mechanism6 Proceeds7 $10,515,723,090.45 $31,852,354,471 Total Proceeds: $4,967,921,811.19 $5,863,489,586.79 $4,322,726,824.60 $6,182,493,158 2,417,407,607 1,165,928,228 1,500,000,000 1,108,971,857 1,500,000,000 Number of Shares Border Federal Credit Union, Del Rio, TX 9/29/2010 9/29/2010 6 9/17/2010 9/29/2010 2a 1 Community Bancshares of Mississippi, Inc., Brandon, MS Citizens Bancshares Corporation, Atlanta, GA CFBanc Corporation, Washington, DC 9/17/2010 8/13/2010 Carver Bancorp, Inc, New York, NY 1 Carter Federal Credit Union, Springhill, LA 9/29/2010 8/27/2010 6 Buffalo Cooperative Federal Credit Union, Buffalo, NY 9/24/2010 1, 3 Brooklyn Cooperative Federal Credit Union, Brooklyn, NY 9/30/2010 Butte Federal Credit Union/Self-Help Federal Credit Union, Biggs, CA Brewery Credit Union, Milwaukee, WI 9/24/2010 BankAsiana, Palisades Park, NJ 9/24/2010 6,11 6 Bethex Federal Credit Union, Bronx, NY 9/29/2010 6, 12 Bancorp of Okolona, Inc., Okolona, MS BancPlus Corporation, Ridgeland, MS 9/29/2010 9/29/2010 8 1, 2 Bainbridge Bancshares, Inc., Bainbridge, GA 9/24/2010 6 American Bancorp of Illinois, Inc., Oak Brook, IL 9/17/2010 Atlantic City Federal Credit Union, Lander, WY Alternatives Federal Credit Union, Ithaca, NY 9/24/2010 9/24/2010 Name of Institution 6 Note Purchase Date Seller Brandon Atlanta Washington New York Springhill Biggs Buffalo Brooklyn Milwaukee Del Rio MS GA DC NY LA CA NY NY WI TX NY NJ Palisades Park Bronx MS MS GA WY IL NY State Ridgeland Okolona Bainbridge Lander Oak Brook Ithaca City CDCI PROGRAM TRANSACTION DETAIL, AS OF 3/31/2016 TABLE C.3 Sources: Treasury, Transactions Report, 3/25/2016. 1 Preferred Stock Preferred Stock Preferred Stock Preferred Stock Common Stock Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Preferred Stock Preferred Stock Subordinated Debentures Preferred Stock Subordinated Debentures Subordinated Debentures Subordinated Debentures Investment Description $54,600,000 $0 $7,462,000 $0 $18,980,000 $0 $0 $0 $0 $0 $0 $0 $0 $50,400,000 $0 $0 $0 $0 $0 Amount from CPP 4/26/2010, Treasury gave Morgan Stanley & Co. Incorporated (Morgan Stanley) discretionary authority, as its sales agent, to sell subject to certain On parameters up to 1,500,000,000 shares of common stock from time to time during the period ending on 6/30/2010 (or upon completion of the sale). Completion of the sale under this authority occurred on 5/26/2010. 2 5/26/2010, Treasury gave Morgan Stanley & Co. Incorporated (Morgan Stanley) discretionary authority, as its sales agent, to sell subject to certain On parameters up to 1,500,000,000 shares of common stock from time to time during the period ending on 6/30/2010 (or upon completion of the sale). Completion of the sale under this authority occurred on 6/30/2010. 3 7/23/2010, Treasury gave Morgan Stanley & Co. Incorporated (Morgan Stanley) discretionary authority, as its sales agent, to sell subject to certain On parameters up to 1,500,000,000 shares of common stock from time to time during the period ending on 9/30/2010 (or upon completion of the sale). Completion of the sale under this authority occurred on 9/30/2010. 4 10/19/2010, Treasury gave Morgan Stanley & Co. Incorporated (Morgan Stanley) discretionary authority, as its sales agent, to sell subject to certain On parameters up to 1,500,000,000 shares of common stock from time to time during the period ending on 12/31/2010 (or upon completion of the sale), which plan was terminated on 12/6/2010. 5 12/6/2010, Treasury commenced an underwritten public offering of its remaining 2,417,407,607 shares. Closing of the offering is subject to the On fulfillment of certain closing conditions. 6 The price set forth is the weighted average price for all sales of Citigroup, Inc. common stock made by Treasury over the course of the corresponding period. 7 Amount represents the gross proceeds to Treasury. Notes: Numbers may not total due to rounding. Data as of 3/31/2016. Numbered notes taken verbatim from 3/25/2016, Transactions Report. 5/26/2010 - 6/30/2010 2 Date 4/26/2010 - 5/26/2010 1 Note CPP - CITIGROUP, INC. COMMON STOCK DISPOSITION, AS OF 3/31/2016 TABLE C.2 $0 $4,379,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $30,514,000 $0 $0 $0 $0 $0 Additional Investment Purchase Details $54,600,000 $11,841,000 $0 $5,781,000 $18,980,000 $6,300,000 $1,000,000 $145,000 $300,000 $1,096,000 $3,260,000 $502,000 $5,250,000 $80,914,000 $3,297,000 $3,372,000 $2,500,000 $5,457,000 $2,234,000 Investment Amount Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Pricing Mechanism 2/6/20136 12/31/20146 10/3/20126 10/15/2014 11/18/20156 10/1/20136 $0 $2,500,000 $3,800,000 $0 $0 $1,096,000 $1,000,000 $0 $0 $3,260,000 $502,000 $5,250,000 $0 $3,297,000 3/13/20136 $0 $1,000,000 1/7/20156 $1,000,000 $2,372,000 9/10/20146 $0 $2,500,000 Amount 9/26/20126 Date Disposition Details Remaining Investment Amount Continued on next page $5,872,533 $1,295,554 $625,633 $446,507 $526,350 $85,389 $15,636 $32,250 $44,388 $263,698 $51,567 $315,583 $8,702,750 $250,975 $273,637 $100,278 $915,381 $240,900 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 291 First Eagle Bancshares, Inc., Hanover Park, IL First Legacy Community Credit Union, Charlotte, NC Gateway Community Federal Credit Union, Missoula, MT Genesee Co-op Federal Credit Union, Rochester, NY 9/24/2010 9/17/2010 9/29/2010 9/29/2010 9/29/2010 9/29/2010 9/24/2010 9/17/2010 1 6 1, 7 1 6 6 Independent Employers Group Federal Credit Union, Hilo, HI Kilmichael Bancorp, Inc., Kilmichael, MS 9/29/2010 9/3/2010 6 1, 7 1, 4, 7 1 Premier Bancorp, Inc., Wilmette, IL PSB Financial Corporation, Many, LA Pyramid Federal Credit Union, Tucson, AZ Renaissance Community Development Credit Union, Somerset, NJ Santa Cruz Community Credit Union, Santa Cruz, CA 9/24/2010 9/29/2010 9/24/2010 9/24/2010 9/29/2010 Prince Kuhio Federal Credit Union, Honolulu, HI 8/13/2010 Phenix Pride Federal Credit Union, Phenix City, AL Opportunities Credit Union, Burlington, VT 9/29/2010 9/24/2010 Northeast Community Federal Credit Union, San Francisco, CA 9/24/2010 PGB Holdings, Inc., Chicago, IL North Side Community Federal Credit Union, Chicago, IL 9/29/2010 8/13/2010 Neighborhood Trust Federal Credit Union, New York, NY Mission Valley Bancorp, Sun Valley, CA M&F Bancorp, Inc., Durham, NC 9/24/2010 8/20/2010 9/24/2010 1 2a 8/20/2010 Lower East Side People’s Federal Credit Union/Union Settlement Federal Credit Union, New York, NY 9/24/2010 1 Liberty Financial Services, Inc., New Orleans, LA 9/24/2010 1, 2 Liberty County Teachers Federal Credit Union, Liberty, TX 9/24/2010 6 Lafayette Bancorp, Inc., Oxford, MS 9/29/2010 1 IBW Financial Corporation, Washington, DC IBC Bancorp, Inc., Chicago, IL 9/10/2010 9/3/2010 Hope Federal Credit Union, Jackson, MS 9/17/2010 1 Hill District Federal Credit Union, Pittsburgh, PA 9/29/2010 1, 2 Guaranty Capital Corporation, Belzoni, MS 7/30/2010 1 Greater Kinston Credit Union, Kinston, NC 9/29/2010 6 Freedom First Federal Credit Union, Roanoke, VA First Vernon Bancshares, Inc., Vernon, AL First M&F Corporation, Kosciusko, MS First Choice Bank, Cerritos, CA First American International Corp., Brooklyn, NY Fidelis Federal Credit Union, New York, NY 1, 7 Fairfax County Federal Credit Union, Fairfax, VA 9/24/2010 8/13/2010 Episcopal Community Federal Credit Union, Los Angeles, CA 9/29/2010 1 East End Baptist Tabernacle Federal Credit Union, Bridgeport, CT 9/29/2010 9/29/2010 D.C. Federal Credit Union, Washington, DC 9/29/2010 6 Cooperative Center Federal Credit Union, Berkeley, CA 9/24/2010 Faith Based Federal Credit Union, Oceanside, CA Community Plus Federal Credit Union, Rantoul, IL 9/29/2010 9/29/2010 Community First Guam Federal Credit Union, Hagatna, GU 9/24/2010 1, 2 6 Community Bank of the Bay, Oakland, CA 9/29/2010 Note Name of Institution Purchase Date Seller Santa Cruz Somerset Tucson Many Honolulu Wilmette Phenix City Chicago Burlington San Francisco Chicago New York Sun Valley Durham New York New Orleans Liberty Oxford Kilmichael Hilo Washington Chicago Jackson Pittsburgh Belzoni Kinston Rochester Missoula Roanoke Vernon Kosciusko Charlotte Hanover Park Cerritos Brooklyn New York Oceanside Fairfax Los Angeles Bridgeport Washington Berkeley Rantoul Hagatna Oakland City CA CA NJ AZ LA HI IL AL IL VT CA IL NY CA NC NY LA TX MS MS HI DC IL MS PA MS NC NY MT VA AL MS NC IL CA NY NY CA VA CA CT DC CA IL GU Subordinated Debentures Subordinated Debentures Subordinated Debentures Preferred Stock Subordinated Debentures Subordinated Debentures Subordinated Debentures Preferred Stock Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Preferred Stock Preferred Stock Preferred Stock Subordinated Debentures Preferred Stock Subordinated Debentures Preferred Stock Subordinated Debentures Subordinated Debentures Preferred Stock Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Preferred Stock Preferred Stock Subordinated Debentures Subordinated Debentures Preferred Stock Preferred Stock Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Preferred Stock Investment Description (CONTINUED) State CDCI PROGRAM TRANSACTION DETAIL, AS OF 3/31/2016 $0 $0 $0 $9,734,000 $0 $6,784,000 $0 $3,000,000 $0 $0 $0 $0 $0 $5,500,000 $11,735,000 $0 $5,645,000 $0 $4,551,000 $0 $0 $6,000,000 $4,205,000 $0 $0 $14,000,000 $0 $0 $0 $0 $6,245,000 $30,000,000 $0 $7,875,000 $5,146,000 $17,000,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,747,000 Amount from CPP $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $4,836,000 $0 $0 $0 $5,689,000 $0 $0 $0 $0 $0 $3,881,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,313,000 Additional Investment Purchase Details $2,828,000 $31,000 $2,500,000 $9,734,000 $273,000 $6,784,000 $153,000 $3,000,000 $1,091,000 $350,000 $325,000 $283,000 $10,336,000 $0 $11,735,000 $898,000 $11,334,000 $435,000 $4,551,000 $3,154,000 $698,000 $6,000,000 $8,086,000 $4,520,000 $100,000 $14,000,000 $350,000 $300,000 $1,657,000 $9,278,000 $6,245,000 $30,000,000 $1,000,000 $7,875,000 $5,146,000 $17,000,000 $14,000 $30,000 $8,044,000 $100,000 $7,000 $1,522,000 $2,799,000 $450,000 $2,650,000 $4,060,000 Investment Amount Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Pricing Mechanism $0 $4,551,000 $698,000 $350,000 $1,657,000 $9,278,000 $87,000 12/16/20156 3/9/20166 12/28/20127 9/9/2015 $1,500,000 $9,734,000 $273,000 $79,900 $87,000 12/31/20146 $87,000 $1,000,000 $0 $0 $0 $174,000 $261,000 $348,000 $0 $0 $0 $0 $0 $0 $30,000,000 4/2/20146 1/29/20134 $0 $0 $0 $0 $1,000,000 $7,875,000 $5,146,000 $14,000 $30,000 Amount 1/27/20167 11/18/20156 4/10/20126 10/17/20126 6/12/20136 8/30/20137 4/2/20146 3/25/20169 5/1/20137 10/14/20156 8/19/20156 Date Disposition Details Remaining Investment Amount Continued on next page $304,953 $3,334 $271,583 $437,489 $27,073 - $16,499 $336,292 $117,343 $37,742 $34,956 $30,518 $1,124,954 $1,287,590 $128,580 $1,222,183 $41,417 $484,934 $532,868 $71,701 $654,000 $1,361,256 $489,164 $10,756 $2,405,083 $10,714 $32,467 $68,397 $501,527 $557,014 $1,751,667 $70,167 $1,348,113 $267,878 $1,887,976 $1,412 $2,933 $867,411 $10,756 $753 $163,700 $301,826 $48,400 $285,758 $416,376 Dividend/Interest Paid to Treasury 292 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Shreveport Federal Credit Union, Shreveport, LA 9/29/2010 1, 2 Thurston Union of Low-Income People (TULIP) Cooperative Credit Union, Olympia, WA Tongass Federal Credit Union, Ketchikan, AK 9/24/2010 9/24/2010 Vigo County Federal Credit Union, Terre Haute, IN Virginia Community Capital, Inc., Christiansburg, VA 7/30/2010 9/24/2010 9/29/2010 9/24/2010 1, 2, 7 6 6 Christiansburg Terre Haute New Orleans St. Paul VA IN LA MN NY AL NY IN LA TN AK WA MS MS MS TX NY AR LA SC MS State Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Subordinated Debentures Preferred Stock Subordinated Debentures Subordinated Debentures Subordinated Debentures Preferred Stock Subordinated Debentures Subordinated Debentures Subordinated Debentures Preferred Stock Preferred Stock Subordinated Debentures Subordinated Debentures Preferred Stock Subordinated Debentures Preferred Stock Preferred Stock Investment Description (CONTINUED) Amount $743,000 $491,600 $245,800 9/4/20136 12/23/20156 $22,115,000 $57,000 $3,700,000 2/25/20156 11/28/20126 3/20/20136 12/17/20146 $1,100,000 $3,000,000 9/9/2015 3/23/20165 10/30/20136 $9,250,000 Date Disposition Details $491,600 $737,400 $0 $0 $0 $4,222,000 $0 $5,660,000 $8,660,000 Remaining Investment Amount $135,926,300 $206,501 $121,917 $43,754 $1,595,843 $2,822 $1,122,700 $0 $1,078 $45,721 $209,936 $172,533 $8,088 $1,187,506 $1,841,674 $1,694,000 $67,894 $183,812 $3,734,900 $284,592 $2,366,222 $1,852,487 Dividend/Interest Paid to Treasury Sources: Treasury, Transactions Report, 3/25/2016; Treasury, Dividends and Interest Report, 4/11/2016. 2a 2 1 This institution qualified to participate in the Community Development Capital Initiative (CDCI), and has exchanged its Capital Purchase Program investment for an equivalent amount of investment with Treasury under the CDCI program terms. Treasury made an additional investment in this institution at the time it entered the CDCI program. Treasury made an additional investment in this institution after the time it entered the CDCI program. 3 10/28/2011, Treasury completed the exchange of all Carver Bancorp, Inc. (“Carver”) preferred stock held by Treasury for 2,321,286 shares of Carver common stock, pursuant to the terms of the agreement between Treasury and Carver entered into on 6/29/2011. Accrued and previously unpaid dividends were On paid on the date of the exchange. 4 3/23/2012, Premier Bank, Wilmette, IL, the banking subsidiary of Premier Bancorp, Inc., was closed by the Illinois Department of Financial and Professional Regulation - Division of Banking, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. On 1/29/2013, UST received $79,900 On representing the total amount of distributions paid to creditors as a result of the liquidation of Premier Bancorp, Inc. 5 Repayment pursuant to Section 5 of the CDCI Certificate of Designation. 6 Repayment pursuant to Section 6.10 of the CDCI Securities Purchase Agreement. 7 Repayment pursuant to Section 5 of the CDCI Exchange Agreement. 8 Repayment pursuant to Section 6.11 of the CDCI Securities Purchase Agreement. 9 Repayment pursuant to Section 5.11 of the CDCI Exchange Agreement. 10 10/31/2014, in connection with the merger of Union Settlement Federal Credit Union (Union) with Lower East Side People’s Federal Credit Union (Lower East Side), Treasury exchanged its $295,000 in aggregate principal amount of Union senior subordinated securities for a like amount of additional Lower East Side On senior subordinated securities. Accrued dividends on the Union senior subordinated securities were paid on the date of the exchange. 11 12/23/2014, in connection with the merger of Butte Federal Credit Union (Butte) with Self-Help Credit Union (SHFCU), Treasury exchanged its 1,000,000 in senior subordinated securities for a like amount of SHFCU senior subordinated securities. Accrued and unpaid interest were paid on the date of the exchange. On 12 10/1/2013, Treasury completed the sale to Wilshire Bancorp, Inc. (“Whilshire”) of all of the preferred stock that had been issued by BankAsiana (“BankAsiana”) to Treasury for a purchase price of $5,250,000 plus accrued dividends, pursuant to the terms of the agreement between Treasury, Whilshire and BankAsiana On entered into on 9/25/2013 in connection with the merger of Wilshire and BankAsiana. $427,442,600 TOTAL TREASURY COMMUNITY DEVELOPMENT INITIATIVE (CDCI) INVESTMENT AMOUNT Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Par Pricing Mechanism Total Capital Repayment Amount $570,073,000 Total Purchase Amount $1,229,000 $743,000 $22,115,000 $57,000 $10,300,000 $295,000 $10,000 $424,000 $2,795,000 $1,600,000 $75,000 $7,922,000 $17,123,000 $15,750,000 $1,100,000 $1,709,000 $33,800,000 $2,646,000 $22,000,000 $17,910,000 Investment Amount $1,915,000 $0 $0 $10,189,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $12,123,000 $0 $0 $0 $22,800,000 $0 $4,000,000 $0 Additional Investment Purchase Details $0 $0 $0 $0 $11,926,000 $0 $10,300,000 $0 $0 $0 $2,795,000 $0 $0 $0 $5,000,000 $15,750,000 $0 $0 $11,000,000 $0 $18,000,000 $17,910,000 Amount from CPP Notes: Numbers may not total due to rounding. Data as of 3/31/2016. Numbered notes are taken verbatim from Treasury’s 3/25/2016, Transactions Report. UNO Federal Credit Union, New Orleans, LA University Financial Corp, Inc., St. Paul, MN New York UNITEHERE Federal Credit Union, (Workers United Federal Credit Union), New York, NY 9/29/2010 6 Atmore New York Fort Wayne New Orleans Memphis Ketchikan Olympia Bay Springs Hattiesburg Greenwood San Antonio Lakewood Arkadelphia Shreveport Aiken Batesville City United Bancorporation of Alabama, Inc., Atmore, AL 9/3/2010 1 Union Baptist Church Federal Credit Union, Fort Wayne, IN 9/24/2010 Union Settlement Federal Credit Union, New York, NY Tulane-Loyola Federal Credit Union, New Orleans, LA 9/24/2010 9/29/2010 Tri-State Bank of Memphis, Memphis, TN 8/13/2010 10 1 The Magnolia State Corporation, Bay Springs, MS 9/29/2010 6 The First Bancshares, Inc., Hattiesburg, MS 9/29/2010 1, 2 Southside Credit Union, San Antonio, TX 9/29/2010 State Capital Corporation, Greenwood, MS Southern Chautauqua Federal Credit Union, Lakewood, NY 9/29/2010 9/29/2010 Southern Bancorp, Inc., Arkadelphia, AR 8/6/2010 1 1, 2 Security Federal Corporation, Aiken, SC 9/29/2010 1 Security Capital Corporation, Batesville, MS 9/29/2010 Note Name of Institution Purchase Date Seller CDCI PROGRAM TRANSACTION DETAIL, AS OF 3/31/2016 TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 293 $7,500,000,000 Convertible Preferred Stock w/ Exercised Warrants $1,250,000,000 $2,000,000,000 $4,000,000,000 $360,624,198 Debt Obligation w/ Additional Note Debt Obligation w/ Additional Note Debt Obligation w/ Additional Note Debt Obligation w/ Additional Note General Motors Corporation General Motors Corporation General Motors Corporation General Motors Corporation General Motors Corporation 12/29/2008 Purchase 12/31/2008 Purchase 4/22/2009 5/27/2009 Purchase Purchase Purchase $13,400,000,000 Debt Obligation GMAC 12/30/2009 Purchase $884,024,131 $2,540,000,000 Trust Preferred Securities w/ Exercised Warrants GMAC 12/30/2009 Purchase $5,000,000,000 6 5 4 2 7/10/2009 7/10/2009 7/10/2009 7/10/2009 5/29/2009 3/1/2011 Exchange for preferred and common stock in New GM Exchange for preferred and common stock in New GM $360,624,198 $4,000,000,000 $2,000,000,000 $13,400,000,000 Exchange for preferred and common stock in New GM Exchange for preferred and common stock in New GM $884,024,131 $2,667,000,000 $5,500,000,000 $3,000,000,000 $5,000,000,000 7 7 7 7 3 27 26 General Motors Holdings LLC General Motors Company General Motors Company GMAC (Ally) GMAC (Ally) GMAC (Ally) 11, 12 10, 11, 25 10, 11, 24 27 3, 26, 32, 38 21, 22 Note Debt Obligation Common Stock Preferred Stock Trust Preferred Securities Common Stock Convertible Preferred Stock Description $3,023,750,000 $181,141,750 Partial Disposition41 4/15/2014 $7,072,488,605 60.8% $2,100,000,000 $360,624,198 $1,000,000,000 7/10/2009 Partial 12/18/2009 Repayment $35,084,421 $1,208,249,982 $3,822,724,832 Partial Disposition36 9/13/2013 Partial Repayment $1,031,700,000 Partial Disposition35 6/12/2013 12/9/2013 $1,637,839,844 Partial Disposition34 4/11/2013 $2,563,441,956 $5,500,000,000 Partial Disposition33 12/21/2012 Partial Disposition39 $1,761,495,577 Partial Disposition25 11/26/2010 Partial 11/20/2013 Disposition37 $11,743,303,903 Partial Disposition25 $2,139,406,778 11/18/2010 12/15/2010 Repayment $2,667,000,000 Partial 12/24/2014 Disposition45 Disposition28 $1,277,036,382 10/16/2014 3/2/2011 $245,492,605 Partial Disposition44 9/12/2014 $2,667,000,000 $218,680,700 Partial Disposition43 63.5% 5/14/2014 $2,375,000,000 Partial Disposition40 $5,925,000,000 1/23/2014 11/20/2013 Disposition38 Type Partial Repayment Repayment 1/21/2010 3/31/2010 4/20/2010 $4,676,779,986 $1,000,000,000 Partial Repayment 37% $0 $0 $0 0% 11% 14% 32.04% Common Stock Common Stock N/A Debt Obligation Debt Obligation Debt Obligation $756,714,508 Continued on next page $0 $4,676,779,986 $5,676,779,986 $5,711,864,407 $6,711,864,407 0.00% Debt Obligation 2.24% Common Stock 7.32% Common Stock Common Stock 13.80% 17.69% Common Stock Common Stock 21.97% Common Stock 36.9% N/A N/A Common Stock Common Stock Common Stock 16% 17% Common Stock Common Stock $3,679,893,757 Remaining Investment Amount/ Dividend/Interest Equity % Paid to Treasurya Common Stock N/A Remaining Amount/ Investment Proceeds Description Payment or Disposition1 Partial Disposition42 $5,937,500,000 Amount/ Equity % Date Treasury Investment After Exchange/Transfer/Other Amount Note Obligor Exchange for equity interest in GMAC Exchange for amended and restated Trust Preferred Securities Partial conversion of 22, 12/30/2010 preferred stock 26 for common stock Partial conversion of 22 12/30/2009 preferred stock for common stock Exchange for convertible 12/30/2009 preferred stock Type Exchange/Transfer/Other Details Amount Note Date Preferred Stock w/ Exercised Warrants Description Convertible Preferred Stock w/ Exercised Warrants General Motorsb,c 5/20/2009 Detroit, MI GMAC (Ally), Detroit, MI GMAC 5/21/2009 Purchase GMAC 12/29/2008 Purchase Date Transaction Type Seller Initial Investment AIFP TRANSACTION DETAIL, AS OF 3/31/2016 TABLE C.4 294 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Chrysler FinCo, Farmington Hills, MI Purchase Purchase 6/3/2009 1/16/2009 Date $30,100,000,000 $1,500,000,000 Debt Obligation w/ Additional Note Chrysler FinCo 13 8 $7,072,488,605 $985,805,085 Transfer of debt to New GM Debt left at Old GM 7/10/2009 7/10/2009 $22,041,706,310 7/10/2009 9 9 9 Motors Liquidation Company 29 Note Debt Obligation Description $985,805,085 $50,000,000 $18,890,294 $6,713,489 $435,097 $10,048,968 $11,832,877 $410,705 $470,269 $8,325,185 Partial Repayment Partial Repayment Partial Repayment Partial Repayment Partial Repayment Partial Repayment Partial Repayment Partial Repayment Partial Repayment 12/16/2011 12/23/2011 1/11/2012 10/23/2012 5/22/2013 9/20/2013 12/27/2013 1/9/2014 5/22/2015 $3,499,055 $144,444 Partial Repayment 5/3/2011 $51,136,084 Partial Repayment Repayment Repayment* 6/17/2009 7/14/2009 7/14/2009 $15,000,000 $1,369,197,029 $44,357,710 Partial Repayment Partial Repayment 4/17/2009 5/18/2009 $31,810,122 Partial Repayment $15,887,795 Partial Repayment 4/5/2011 3/17/2009 $45,000,000 Partial Repayment Type N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Right to recover proceeds Right to recover proceeds Right to recover proceeds Right to recover proceeds Right to recover proceeds Right to recover proceeds Right to recover proceeds Right to recover proceeds Right to recover proceeds $1,496,500,945 N/A Right to recover proceeds $1,413,554,739 Debt Obligation w/ Additional Note Additional Note Continued on next page $0 $0 Debt Obligation w/ Additional Note N/A $1,369,197,029 Debt Obligation w/ Additional Note $1,464,690,823 Debt Obligation w/ Additional Note N/A Right to recover proceeds $7,405,894 Remaining Investment Amount/ Dividend/Interest Equity % Paid to Treasurya Right to recover proceeds Remaining Amount/ Investment Proceeds Description Payment or Disposition1 3/31/2011 Amount/ Equity % Date Treasury Investment After Exchange/Transfer/Other Amount Note Obligor Exchange for preferred and common stock in New GM Type Exchange/Transfer/Other Details (CONTINUED) Amount Note Date Debt Obligation w/ Additional Note Description General Motors Corporation Transaction Type Seller Initial Investment AIFP TRANSACTION DETAIL, AS OF 3/31/2016 TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 295 Chrysler, Auburn Hills, MI Purchase 5/20/2009 $280,130,642 $1,888,153,580 $0 Debt Obligation w/ Additional Note Debt Obligation w/ Additional Note Debt Obligation w/ Additional Note Chrysler Holding $81,344,932,551 Total Initial Investment Amount New Chrysler Old Chrysler Old Chrysler $0 Debt Obligation w/ Additional Note Chrysler Holding $6,642,000,000 Purchase 5/1/2009 Purchase Purchase 4/29/2009 5/27/2009 Purchase 4/29/2009 $4,000,000,000 18 6/10/2009 17 16 4/30/2010 15 14 6/10/2009 Issuance of equity in New Chrysler Completion of bankruptcy proceeding; transfer of collateral security to liquidation trust Transfer of debt to New Chrysler Type $0 ($1,888,153,580) 23 19 19, 31 23 20 Note 30 Chrysler Group LLC Old Carco Liquidation Trust Chrysler Holding Chrysler Group LLC Description Common equity Debt obligation w/ additional note & zero coupon note Right to recover proceeds Debt obligation w/ additional note 6.6% $7,142,000,000 N/A $3,500,000,000 $30,544,528 $280,130,642 $1,900,000,000 $9,666,784 Proceeds from sale of collateral Repayment Termination and settlement payment20 Type $6,341,426 $2,000,000 Proceeds from sale of collateral Proceeds from sale of collateral 9/29/2015 2/26/2016 $5,076,460,000 $93,871,306 Proceeds from sale of collateral 9/21/2015 5/24/2011 $0 N/A N/A N/A N/A N/A $1,171,263,942 Continued on next page Total Treasury Investment Amount $11,753,165,656 Total Payments $64,038,073,315 $403,000,000 Additional Proceeds* $560,000,000 $0 Repayment* - Zero Coupon Note 5/24/2011 N/A Right to recover proceeds Right to recover proceeds Right to recover proceeds Right to recover proceeds Right to recover proceeds N/A N/A $0 $0 Remaining Investment Amount/ Dividend/Interest Equity % Paid to Treasurya N/A $100,000,000 Repayment* - Additional Note Disposition $288,000,000 Termination of undrawn facility31 5/24/2011 7/21/2011 $2,065,540,000 Repayment Principal $9,302,185 Proceeds from sale of collateral 4/30/2012 5/24/2011 $7,844,409 Proceeds 12/29/2010 from sale of collateral Right to recover proceeds Right to recover proceeds N/A N/A Remaining Amount/ Investment Proceeds Description Payment or Disposition1 Proceeds from sale of collateral 9/9/2010 5/10/2010 7/10/2009 5/14/2010 Amount/ Equity % Date Treasury Investment After Exchange/Transfer/Other Amount Note Obligor $500,000,000 Exchange/Transfer/Other Details (CONTINUED) Amount Note Date Debt Obligation w/ Additional Note Description Chrysler Holding Debt Obligation w/ Additional Note, Zero Coupon Note, Equity Purchase 1/2/2009 Date Transaction Type Seller Initial Investment AIFP TRANSACTION DETAIL, AS OF 3/31/2016 296 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 (CONTINUED) Sources: Treasury, Transactions Report, 3/25/2016; Treasury, Dividends and Interest Report, 4/11/2016. 3 2 1 Payment amount does not include accrued and unpaid interest on a debt obligation, which must be paid at the time of principal repayment. Treasury committed to lend General Motors Corporation up to $1,000,000,000. The ultimate funding was dependent upon the level of investor participation in GMAC LLC’s rights offering. The amount has been updated to reflect the final level of funding. Pursuant to its rights under the loan agreement with Old GM reported on 12/29/2008, Treasury exchanged its $884 million loan to Old GM for a portion of Old GM’s common equity interest in GMAC. Treasury held a 35.4% common equity interest in GMAC until the transactions reported on 12/30/2009. (See transactions marked by orange line in the table above and footnote 22.) 4 This transaction is an amendment to Treasury’s 12/31/2008 agreement with Old GM (the “Old GM Loan”), which brought the total loan amount to $15,400,000,000. 5 This transaction was a further amendment to the Old GM Loan, which brought the total loan amount to $19,400,000,000. 6 This transaction was a further amendment to the Old GM Loan, which brought the total loan amount to $19,760,624,198. The $360,624,198 loan was used to capitalize GM Warranty LLC, a special purpose vehicle created by Old GM. On 7/10/2009, the principal amount was included in the $7.07 billion of debt assumed by the new GM, as explained in footnote 10. 7 7/10/2009, the principal amount outstanding under the Old GM Loan and interest accrued there under were extinguished and exchanged for privately placed preferred and common equity in New GM. (See green lines in the table above.) On 8 Under the terms of the $33.3 billion debtor-in-possession credit agreement dated 6/3/2009 with Old GM (the “GM DIP Loan”), Treasury’s commitment amount was $30.1 billion. The remaining $2.2 billion of the financing was provided by Canadian government entities. As of 7/9/2009, $30.1 billion of funds had been disbursed by Treasury. 9 7/10/2009, Treasury and Old GM amended the GM DIP Loan, and the principal amount and interest accrued there under were extinguished and exchanged for privately placed preferred and common equity in New GM, except for (i) $7.07 billion, which was assumed by New GM as a new obligation under the terms of a On separate credit agreement between Treasury and New GM (see transactions marked by green lines in table above) and (ii) $986 million, which remained a debt obligation of Old GM. 10 total, for the exchange of the Old GM Loan and the GM DIP Loan (other than as explained in footnote 9), Treasury received $2.1 billion in preferred shares and 60.8% of the common shares of New GM. (See transactions marked by green lines in the table above.) In 11 Pursuant to a corporate reorganization completed on or about 10/19/2009, the shareholders of New GM, including with respect to Treasury’s preferred and common stock, became shareholders of General Motors Holding Company (the ultimate parent company of New GM), which was renamed “General Motors Company” on an equal basis to their shareholdings in New GM, and New GM was converted to “General Motors LLC”. General Motors LLC is a wholly owned subsidiary of General Motors Holdings LLC, and General Motors Holdings LLC is a wholly owned subsidiary of General Motors Company. 12 Pursuant to a corporate reorganization completed on 10/19/2009, Treasury’s loan with New GM was assigned and assumed by General Motors Holdings LLC. 13 The loan was funded through Chrysler LB Receivables Trust, a special purpose vehicle created by Chrysler FinCo. The amount of $1,500,000,000 represents the maximum loan amount. The loan was incrementally funded until it reached the maximum amount of $1.5 billion on 4/9/2009. 14 This transaction was an amendment to Treasury’s 1/2/2009 agreement with Chrysler Holding. As of 4/30/2009, Treasury’s obligation to lend any funds committed under this amendment had terminated. No funds were disbursed. 15 The loan was used to capitalize Chrysler Warranty SPV LLC, a special purpose vehicle created by Old Chrysler. 16 This transaction was set forth in a credit agreement with Old Chrysler fully executed on 5/5/2009 following a term sheet executed on 5/1/2009 and made effective on 4/30/2009. Treasury’s commitment was $3.04 billion of the total $4.1 billion debtor-in-possession credit facility (the “Chrysler DIP Loan”). As of 6/30/2009, Treasury’s commitment to lend under the Chrysler DIP Loan had terminated. The remaining principal amount reflects the final amount of funds disbursed under the Chrysler DIP Loan. 17 This transaction was an amendment to Treasury’s commitment under the Chrysler DIP Loan, which increased Treasury’s commitment by an amount $756,857,000 to a total of $3.8 billion under the Chrysler DIP Loan. As of 6/30/2009, Treasury’s obligation to lend funds committed under the Chrysler DIP Loan had terminated. 18 This transaction, first reported based on a term sheet fully executed on 5/27/2009 for an amount up to $6.943 billion, was set forth in a credit agreement with New Chrysler fully executed on 6/10/2009. Under the terms of the credit agreement, Treasury made a new commitment to New Chrysler of up to $6.642 billion. The total loan amount is up to $7.142 billion including $500 million of debt assumed on 6/10/2009 from Chrysler Holding originally incurred under Treasury’s 1/2/2009 credit agreement with Chrysler Holding. The debt obligations are secured by a first priority lien on the assets of New Chrysler. When the sale to new Chrysler was completed, Treasury acquired the rights to 9.85% of the common equity in new Chrysler. 19 Pursuant to the agreement explained in footnote 18, $500 million of this debt obligation was assumed by New Chrysler. 20 Under loan agreement, as amended on 7/23/2009, Treasury was entitled to proceeds Chrysler Holdco received from Chrysler FinCo equal to the greater of $1.375 billion or 40% of the equity value of Chrysler FinCo. Pursuant to a termination agreement dated 5/14/2010, Treasury agreed to accept a settlement payment of $1.9 billion as satisfaction in full of all existing debt obligations (including additional notes and accrued and unpaid interest) of Chrysler Holdco, and upon receipt of such payment to terminate all such obligations. 21 Amount of the Treasury investment exchange includes the exercised warrants from Treasury’s initial investments. 22 Under the terms of an agreement dated 12/30/2009, the convertible preferred shares will mandatorily convert to common stock under the conditions and the conversion price as set forth in the terms of the agreement. 23 4/30/2010, the Plan of Liquidation for the debtors of Old Chrysler approved by the respective bankruptcy court became effective (the “Liquidation Plan”). Under the Liquidation Plan, the loan Treasury had provided to Old Chrysler was extinguished without repayment, and all assets of Old Chrysler were transferred to a On liquidation trust. Treasury retained the right to recover the proceeds from the liquidation from time to time of the specified collateral security attached to such loan. 24 10/27/2010, Treasury accepted an offer by General Motors Company (GM) to repurchase all of the approximately $2.1 billion preferred stock at a price per share of $25.50, which is equal to 102% of the liquidation preference, subject to the closing of the proposed initial public offering of GM’s common stock. The On repurchase was completed on 12/15/2010. 25 11/17/2010, Treasury agreed to sell 358,546,795 shares of common stock at $32.7525 per share (which represents the $33 public sale price less underwriting discounts and fees) pursuant to an underwriting agreement. Following settlement, the net proceeds to Treasury were $11,743,303,903. On 11/26/2010, On the underwriters exercised their option to purchase an additional 53,782,019 shares of common stock from Treasury at the same purchase price resulting in additional proceeds of $1,761,495,577. Treasury’s aggregate net proceeds from the sale of common stock pursuant to the underwriting agreement total $13,504,799,480. 26 12/30/2010, Treasury converted $5,500,000,000 of the total convertible preferred stock then outstanding and held by Treasury (including exercised warrants) into 531,850 shares of common stock of Ally. Following this conversion, Treasury holds $5,937,500,000 of convertible preferred stock. On 27 3/1/2011, Treasury entered into an agreement with Ally Financial, Inc. (Ally) and certain other parties to amend and restate the $2,667,000,000 in aggregate liquidation preference of its Ally trust preferred securities so to facilitate a public underwritten offering. At the time of amendment and restatement, Treasury On received all outstanding accrued and unpaid dividends and a distribution fee of $28,170,000. 28 3/2/2011, Treasury entered into an underwritten offering for all of its Ally trust preferred securities, the proceeds of which were $2,638,830,000, which together with the distribution fee referred to in footnote 27, provided total disposition proceeds to Treasury of $2,667,000,000. This amount does not include the On accumulated and unpaid dividends on the trust preferred securities from the date of the amendment and restatement through but excluding the closing date that Treasury will receive separately at settlement. 29 3/31/2011, the Plan of Liquidation for Motors Liquidation Company (Old GM) became effective, Treasury’s $986 million loan to Old GM was converted to an administrative claim and the assets remaining with Old GM, including Treasury’s liens on certain collateral and other rights attached to the loan, were transferred to On liquidation trusts. On 12/15/2011, Old GM was dissolved, as required by the Plan of Liquidation. Treasury retained the right to recover additional proceeds; however, any additional recovery is dependent on actual liquidation proceeds and pending litigation. 30 June 2009, Treasury provided a $6.6 billion loan commitment to Chrysler Group LLC and received a 9.9 percent equity ownership in Chrysler Group LLC (Chrysler). In January and April 2011, Chrysler met the first and second of three performance related milestones. As a result, Fiat’s ownership automatically increased In from 20% to 30%, and Treasury’s ownership was reduced to 8.6%. On 5/24/2011, Fiat, through the exercise of an equity call option, purchased an incremental 16% fully diluted ownership interest in Chrysler for $1.268 billion, reducing Treasury’s ownership to 6.6% (or 6.0% on a fully diluted basis). On 7/21/2011, Fiat, through the exercise of an equity call option, purchased Treasury’s ownership interest for $500 million. In addition, Fiat paid $60 million to Treasury for its rights under an agreement with the UAW retirement trust pertaining to the trust’s shares in Chrysler. 31 5/24/2011, Chrysler Group LLC terminated its ability to draw on the remaining $2.066 billion outstanding under this loan facility. On 32 11/1/2011, Treasury received a $201,345.42 pro-rata tax distribution on its common stock from Ally Financial, Inc. pursuant to the terms of the Sixth Amended and Restated Limited Liability Company Operating Agreement of GMAC LLC dated 5/22/2009. On 33 12/21/2012, Treasury sold 200,000,000 shares of common stock at $27.50 per share pursuant to a letter agreement. Following settlement, the net proceeds to Treasury were $5,500,000,000. On 34 January 18, 2013, Treasury gave Citigroup Global Markets, Inc. and J.P. Morgan Securities, LLC discretionary authority, as its sales agent, to sell subject to certain parameters up to 58,392,078 shares of common stock from time to time during the period ending on April 17, 2013 (or upon completion of the sale). On Completion of the sale under this authority occurred on April 11, 2013. 35 6/12/2013, Treasury sold 30,000,000 shares of GM common stock in a registered public offering at $34.41 per share for net proceeds to Treasury of $ 1,031,700,000. On 36 Pursuant to pre-arranged written trading plans dated May 6, 2013, as amended, Treasury gave Citigroup Global Markets, Inc. and J.P. Morgan Securities, LLC discretionary authority, as its sales agent, to sell subject to certain parameters up to 142,814,136 shares of common stock from time to time during the period ending on September 13, 2013 (or upon completion of the sale). Completion of the sale under this authority occurred on September 13, 2013. 37 September 26, 2013, Treasury gave Citigroup Global Markets, Inc. and J.P. Morgan Securities, LLC discretionary authority, as its sales agent, to sell subject to certain parameters up to 70,214,460 shares of common stock from time to time during the period ending on December 20, 2013 (or upon completion of the On sale). Completion of the sale under this authority occurred on November 20, 2013. 38 November 20, 2013, Ally completed a private placement of an aggregate of 216,667 shares of its common stock for an aggregate price of approximately $1.3 billion and the repurchase of all outstanding shares of its Fixed Rate Cumulative Mandatorily Convertible Preferred Stock, Series F-2, held by Treasury, including On payment for the elimination or relinquishment of any right to receive additional shares of common stock to be issued (the “Share Adjustment Right”). Ally paid to Treasury a total of approximately $5.93 billion for the repurchase of the Series F-2 Preferred Stock and the elimination of the Share Adjustment Right. As a result of the private placement, Treasury’s common stock ownership stake was diluted from 73.8 percent to 63.45 percent. Treasury continues to own 981,971 shares of common stock in Ally. 39 November 21, 2013, Treasury gave J.P. Morgan Securities, LLC discretionary authority, as its sales agent, to sell, subject to certain parameters, the remaining shares of common stock, from time to time during the period ending on February 15, 2014 (or upon completion of the sale). Completion of the sale under this On authority occurred on December 9, 2013. 40 January 23, 2014, Treasury sold 410,000 shares of Ally common stock in a private offering at $7,375 per share for gross proceeds of $3,023,750,000. On 41 April 15, 2014, Treasury sold 95,000,000 shares of Ally common stock in an IPO at $25.00 per share for net proceeds of $2,375,000,000. On 42 5/14/2014, the underwriters partially exercised their option to purchase an additional 7,245,670 shares of Ally common stock from Treasury at $25.00 resulting in additional proceeds of $181,141,750. On 43 August 14, 2014, Treasury gave Goldman Sachs discretionary authority, as its sales agent, to sell subject to certain parameters up to 8,890,000 shares of common stock from time to time during the period ending November 12, 2014 (or upon completion of sale). Completion of sale under this authority occurred on On September 12, 2014. 44 September 12, 2014, Treasury gave Goldman Sachs discretionary authority, as its sales agent, to sell subject to certain parameters up to 11,249,044 of common stock from time to time during the period ending on December 11, 2014 (or upon completion of the sale). Completion of the sale under this authority On occurred on October 16, 2014. 45 December 24, 2014, Treasury sold 54,926,296 shares of Ally common stock in an underwritten offering at $23.25 per share for net proceeds of $1,277,036,382. On a For the purpose of this table, income (dividends and interest) are presented in aggregate for each AIFP participant. b According to Treasury, the GM warrant was “Exchanged out of bankruptcy exit.” c This table includes AWCP transactions. As used in this table and its footnotes: GMAC refers to GMAC Inc., formerly known as GMAC LLC., and now known as Ally Financial, Inc. (“Ally”). “Old GM” refers to General Motors Corporation, which is now known as Motors Liquidation Company. “New GM” refers to General Motors Company, the company that purchased Old GM’s assets on 7/10/2009 in a sale pursuant to section 363 of the Bankruptcy Code. See also footnote 11. “Chrysler FinCo” refers to Chrysler Financial Services Americas LLC. “Chrysler Holding” refers to CGI Holding LLC, the company formerly known as “Chrysler Holding LLC”. “Old Chrysler” refers to Old Carco LLC (fka Chrysler LLC). “New Chrysler” refers to Chrysler Group LLC, the company that purchased Old Chrysler’s assets on 6/10/2009 in a sale pursuant to section 363 of the Bankruptcy Code. Notes: Numbers may not total due to rounding. Data as of 3/31/2016. Numbered notes were taken verbatim from Treasury’s 3/25/2016, Transactions Report. AIFP TRANSACTION DETAIL, AS OF 3/31/2016 TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 297 4/9/2009 4/9/2009 1 2 Purchase Chrysler Receivables SPV LLC Wilmington, DE $5,000,000,000 Purchase Transaction Type GM Supplier Receivables LLC Wilmington, DE Institution Name Debt Obligation w/ Additional Note Debt Obligation w/ Additional Note Investment Description Adjustment Amount 7/8/20093 $101,074,947 ($500,000,000) 7/8/20093 $413,076,735 ($1,000,000,000) Adjustment Date Adjusted Total N/A N/A Pricing Mechanism Total Proceeds from Additional Notes $1,500,000,000 $3,500,000,000 Investment Amount Adjustment Details Partial repayment Partial repayment Type 3/9/2010 4/7/2010 $123,076,735 $44,533,054 Total Repayments $413,076,735 $123,076,735 None Payment Additional Note 7 $50,000,000 Additional Note Repayment5 $100,000,000 Debt Obligation w/ Additional Note $56,541,893 $140,000,000 Amount Debt Obligation w/ Additional Note Remaining Investment Description None Payment6 3/4/2010 4/5/2010 Repayment5 2/11/2010 11/20/2009 Date Repayment4 $1,000,000,000 $290,000,000 $2,500,000,000 Adjusted Investment Amount $5,787,176 $9,087,808 Dividend/Interest Paid to Treasury 110,336,510 70,214,460 $34.646 $36.509 $38.823 5/6/2013 – 9/13/20134 9/26/2013 – 11/20/20135 11/21/2013 – 12/9/20136 $9,232,256,614 Source: Treasury, Transactions Report, 3/25/2016. 3 2 1 The price set forth is the weighted average price for all sales of General Motors Company common stock made by Treasury over the course of the corresponding period. Amount represents the gross proceeds to Treasury. January 18, 2013, Treasury gave Citigroup Global Markets, Inc. and J.P. Morgan Securities, LLC discretionary authority, as its sales agent, to sell subject to certain parameters up to On 58,392,078 shares of common stock from time to time during the period ending on April 17, 2013 (or upon completion of the sale). Completion of the sale under this authority occurred on April 11, 2013. 4 Pursuant to pre-arranged written trading plans dated May 6, 2013, as amended, Treasury gave Citigroup Global Markets, Inc. and J.P. Morgan Securities, LLC discretionary authority, as its sales agent, to sell subject to certain parameters up to 142,814,136 shares of common stock from time to time during the period ending on September 13, 2013 (or upon completion of the sale). Completion of the sale under this authority occurred on September 13, 2013. 5 September 26, 2013, Treasury gave Citigroup Global Markets, Inc. and J.P. Morgan Securities, LLC discretionary authority, as its sales agent, to sell subject to certain parameters up On to 70,214,460 shares of common stock from time to time during the period ending on December 20, 2013 (or upon completion of the sale). Completion of the sale under this authority occurred on November 20, 2013. 6 November 21, 2013, Treasury gave J.P. Morgan Securities, LLC discretionary authority, as its sales agent, to sell, subject to certain parameters, the remaining shares of common stock, On from time to time during the period ending on February 15, 2014 (or upon completion of the sale). Completion of the sale under this authority occurred on December 9, 2013. Notes: Numbers may not total due to rounding. Data as of 3/31/2016. Numbered notes were taken verbatim from Treasury’s 3/25/2016, Transactions Report. $1,208,249,982 Total Proceeds: $2,563,441,956 $3,822,724,832 $1,637,839,844 Proceeds2 31,122,206 58,392,078 $28.049 1/18/2013 – 4/17/20133 Number of Shares Pricing Mechanism1 Date AIFP GENERAL MOTORS COMPANY COMMON STOCK DISPOSITION DETAIL, AS OF 3/31/2016 TABLE C.6 Sources: Treasury, Transactions Report, 3/25/2016; Treasury, Dividends and Interest Report, 4/11/2016. 2 1 The loan was funded through GM Supplier Receivables, LLC, a special purpose vehicle created by General Motors Corporation. The amount of $3,500,000,000 represents the maximum loan amount. The loan will be incrementally funded. The credit agreement was fully executed on 4/9/2009, but was made effective as of 4/3/2009. General Motors Company assumed GM Supplier Receivables LLC on 7/10/2009. The loan was funded through Chrysler Receivables SPV LLC, a special purpose vehicle created by Chrysler LLC. The amount of $1,500,000,000 represents the maximum loan amount. The loan will be incrementally funded. The credit agreement was fully executed on 4/9/2009, but was made effective as of 4/7/2009. Chrysler Group LLC assumed Chrysler Receivables SPV LLC on 6/10/2009. 3 Treasury issued notice to the institution of the permanent reduced commitment on 7/8/2009; the reduction was effective on 7/1/2009. 4 Does not include accrued and unpaid interest due on the amount of principal repayment, which interest must be paid at the time of principal repayment. 5 outstanding principal drawn under the credit agreement was repaid. All 6 Treasury’s commitment was $2.5 billion (see note 3). As of 4/5/2010, Treasury’s commitment to lend under the credit agreement had terminated and the borrower has paid its obligations with respect to the Additional Note. The final investment amount reflects the total funds disbursed under the loan, all of which have been repaid. 7 Treasury’s commitment was $1 billion (see note 3). As of 4/7/2010, Treasury’s commitment to lend under the credit agreement had terminated and the borrower has paid its obligations with respect to the Additional Note. The final investment amount reflects the total funds disbursed under the loan, all of which have been repaid. Notes: Numbers may not total due to rounding. Data as of 3/31/2016. Numbered notes were taken verbatim from Treasury’s 3/25/2016, Transactions Report. Initial Total Date Note Seller ASSP TRANSACTION DETAIL, AS OF 3/31/2016 TABLE C.5 298 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Transaction Type Purchase Purchase Citigroup Inc., New York, NY Bank of America Corporation, Charlotte, NC 1/16/2009 Total Investment Preferred Stock w/ Warrants Trust Preferred Securities w/ Warrants Investment Description Par Par Pricing Mechanism 12/9/2009 12/23/2009 $40,000,000,000 TOTAL CAPITAL REPAYMENT $20,000,000,000 $20,000,000,000 Investment Amount Capital Repayment Date2 $40,000,000,000 $20,000,000,000 $20,000,000,000 Capital Repayment Amount Capital Repayment Details $0 $0 Remaining Capital Amount Warrants Warrants Remaining Capital Description Treasury Investment Remaining After Capital Repayment A A Warrants Warrants Final Disposition Description Total Warrant Proceeds 3/3/2010 1/25/2011 Final Disposition Date3 $1,427,190,941 $1,236,804,513 $190,386,428 Final Disposition Proceeds Final Disposition $16.83 $51.75 $1,435,555,556 $1,568,888,889 Dividends/ Interest Paid to Treasury Market and Warrant Data Outstanding Stock Warrant Price Shares 1/16/2009 12/23/2009 1 3 Guarantee Termination Citigroup Inc., New York, NY Termination Agreement Master Agreement ($5,000,000,000) $5,000,000,000 Preferred Stock w/ Warrants Transaction Type Description Guarantee Limit Description Citigroup Inc., New York, NY Institution Name Amount $4,034,000,000 Premium 2/4/20137 12/28/20126 9/29/20104 6/9/20092 Date Payment Amount $800,000,000 $894,000,000 Trust Preferred Securities Exchange Trust preferred Subordinated securities for Note subordinated note Trust preferred securities received from the FDIC Exchange Trust trust preferred Preferred securities for $2,246,000,000 Securities w/ trust preferred Warrants securities Disposition Warrant Auction Disposition $894,000,000.00 $67,197,045 $2,246,000,000 None None Warrants $-—- $-—- $-—- $51.75 Stock Price $642,832,268 Dividends/ Interest Paid to Treasury Market and Warrant Data Remaining Outstanding Premium Warrant Amount Shares Trust Preferred $2,234,000,000 Securities w/ Warrants Remaining Premium Description Payment or Disposition Sources: Treasury, Transactions Report, 3/25/2016; Treasury, Dividends and Interest Report, 4/11/2016; Yahoo! Finance, finance.yahoo.com, accessed 4/1/2016. 2 1 consideration for the guarantee, Treasury received $4.03 billion of preferred stock, which pays 8% interest. In Treasury made three separate investments in Citigroup Inc. (“Citigroup”) under CPP, TIP, and AGP for a total of $49 billion. On 6/9/2009, Treasury entered into an agreement with Citigroup to exchange all of Treasury’s investments. On 7/30/2009, Treasury exchanged all of its Fixed Rate Cumulative Perpetual Preferred Stock Series G (AGP Shares), received as premium with the AGP agreement, “dollar for dollar” for Trust Preferred Securities. 3 12/23/2009, Treasury entered into a Termination Agreement with the other parties to the Master Agreement which served to terminate Treasury’s guarantee and obligations under the Master Agreement. In connection with the early termination of the guarantee, Treasury agreed to cancel $1.8 billion of On the AGP Trust Preferred Securities, and the Federal Deposit Insurance Corporation (FDIC) and Treasury agreed that, subject to the conditions set out in the Termination Agreement, the FDIC may transfer $800 million of Trust Preferred Securities to Treasury at the close of Citigroup’s participation in the FDIC’s Temporary Liquidity Guarantee Program. 4 9/29/2010, Treasury entered into an agreement with Citigroup Inc. to exchange $2,234,000,000 in aggregate liquidation preference of its trust preferred securities for $2,246,000,000 in aggregate liquidation preference of trust preferred securities with certain modified terms. At the time of exchange, On Citigroup Inc. paid the outstanding accrued and unpaid dividends. 5 9/30/2010, Treasury entered into underwritten offering of the trust preferred securities, the gross proceeds of which do not include accumulated and unpaid distributions from the date of the exchange through the closing date. On 6 12/28/2012, as contemplated by the Termination Agreement and the Letter Agreement dated 12/23/2009, between Treasury and the Federal Deposit Insurance Corporation (FDIC), Treasury received from the FDIC, Citigroup Inc. trust preferred securities in aggregate liquidation preference equal to $800 million and approximately $183 million in dividend and interest payments from those securities. 7 2/4/2013, Treasury exchanged $800 million in Citigroup Capital XXXII Trust Preferred Securities (TRuPS) for $894 million in Citigroup subordinated notes pursuant to an agreement between Citigroup and Treasury executed on 2/4/2013. Accrued interest on the TRuPS was received at the time of the On exchange. 8 2/8/2013, Treasury completed the sale of its Citigroup subordinated notes for $894 million plus accrued interest, pursuant to an underwriting agreement executed on 2/8/2012. On Total Proceeds $3,207,197,045 2/8/20138 1/25/2011 9/30/20105 ($1,800,000,000) Exchange Partial preferred Trust cancellation stock Preferred for early $4,034,000,000 12/23/20093 for trust Securities w/ termination preferred Warrants of securities guarantee Amount Date Payment Type Type Description Exchange/Transfer/Other Details Notes: Numbers may not total due to rounding. Data as of 3/31/2016. Numbered notes were taken verbatim from Treasury’s 3/25/2016, Transactions Report. Date Note Seller Initial Investment AGP TRANSACTION DETAIL, AS OF 3/31/2016 TABLE C.8 Sources: Treasury, Transactions Report, 3/25/2016; Treasury, Dividends and Interest Report, 4/11/2016; Yahoo! Finance, finance.yahoo.com, accessed 4/1/2016. 2 1 Treasury made three separate investments in Citigroup Inc. (“Citigroup”) under CPP, TIP, and AGP for a total of $49 billion. On 6/9/2009, Treasury entered into an agreement with Citigroup to exchange all of Treasury’s investments. On 7/30/2009, Treasury exchanged all of its Fixed Rate Cumulative Perpetual Preferred Stock, Series I (TIP Shares) “dollar for dollar” for Trust Preferred Securities. Repayment pursuant to Title VII, Section 7001 of the American Recovery and Reinvestment Act of 2009. 3 final disposition of warrants, “R” represents proceeds from a repurchase of warrants by the financial institution, and “A” represents the proceeds to Treasury, after underwriting fees, from a sale by Treasury in a registered public offering of the warrants issued by the financial institution. For Notes: Numbers may not total due to rounding. Data as of 3/31/2016. Numbered notes were taken verbatim from Treasury’s 3/25/2016 Transactions Report. 1 12/31/2008 Date Note Institution Name Seller TIP TRANSACTION DETAIL, AS OF 3/31/2016 TABLE C.7 TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 299 3/3/2009 1 TALF LLC, Wilmington, DE Institution Purchase Transaction Type Debt Obligation w/ Additional Note Investment Description $20,000,000,000 Investment Amount N/A Pricing Mechanism Total Investment Amount $100,000,000 $1,400,000,000 1/15/20134 $4,300,000,000 6/28/20123 Amount 7/19/20102 Date Adjusted Investment $100,000,000 $100,000,000 Final Investment Amount Contingent Interest Proceeds Contingent Interest Proceeds Contingent Interest Proceeds Contingent Interest Proceeds Contingent Interest Proceeds Contingent Interest Proceeds Contingent Interest Proceeds Contingent Interest Proceeds 4/4/2013 5/6/2013 6/6/2013 7/5/2013 8/6/2013 9/6/2013 10/4/2013 11/6/2013 Contingent Interest Proceeds Contingent Interest Proceeds Contingent Interest Proceeds Contingent Interest Proceeds Contingent Interest Proceeds Contingent Interest Proceeds Contingent Interest Proceeds Contingent Interest Proceeds Contingent Interest Proceeds Contingent Interest Proceeds 2/6/2014 3/6/2014 4/4/2014 5/6/2014 6/5/2014 7/7/2014 8/6/2014 9/5/2014 10/6/2014 11/6/2014 $771,143,209 $21,835,385 $17,394,583 $262,036 $14,059,971 $27,005,139 $1,343,150 $1,055,556 $11,597,602 $1,225,983 $1,107,574 $1,026,569 $1,102,424 $933,181 $1,114,074 $74,797,684 $66,072,965 $11,799,670 $96,496,772 $4,419,259 $6,069,968 $97,594,053 $212,829,610 $100,000,000 Amount $13,407,761 Dividends/Interest Paid to Treasury Sources: Treasury, Transactions Report, 3/25/2016; Treasury, Dividends and Interest Report, 4/11/2016. 1 The loan was funded through TALF LLC, a special purpose vehicle created by The Federal Reserve Bank of New York (“FRBNY”). The amount of $20,000,000,000 represents the maximum loan amount. The loan will be incrementally funded. 2 7/19/2010, Treasury, the FRBNY and TALF LLC entered into an amendment of the credit agreement previously entered into on 3/3/2009, which amendment reduced Treasury’s maximum loan amount to $4,300,000,000. On 3 6/28/2012, Treasury, the FRBNY and TALF LLC entered into an amendment of the credit agreement previously amended 7/19/2010, which reduced Treasury’s maximum loan amount to $1,400,000,000. On 4 1/15/2013, Treasury, the FRBNY and TALF LLC entered into an amendment that stated that, due to the fact that the accumulated fees collected through TALF exceed the total principal amount of TALF loans outstanding, Treasury’s commitment of TARP funds to provide credit protection is no longer On necessary. 5 Repayment amounts do not include accrued interest proceeds received on 2/6/2013, which are reflected on the Dividends & Interest Report. Total Repayment Amount5 Contingent Interest Proceeds 1/7/2014 Contingent Interest Proceeds Contingent Interest Proceeds 3/6/2013 12/5/2013 Contingent Interest Proceeds Principal Repayment Description 2/6/2013 2/6/2013 Date Repayment5 Notes: Numbers may not total due to rounding. Data as of 3/31/2016. Numbered notes were taken verbatim from Treasury’s 3/25/2016, Transactions Report, and Treasury’s 4/11/2016, Dividends and Interest Report. Date Note Seller TALF TRANSACTION DETAIL, AS OF 3/31/2016 TABLE C.9 300 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 4/17/2009 Date 1/14/2011 1/14/2011 1/14/2011 2, 3 Note 4 5 6 Exchange Transfer Common Stock (non-TARP) Exchange Exchange Common Stock ALICO Junior Preferred Interests 562,868,096 924,546,133 167,623,733 $3,375,328,4327 $16,916,603,568 7 AIA Preferred Units Amount / Shares Repurchase Warrants (Series F) 3/1/2013 $17,999,999,973 $2,699,999,965 $7,610,497,570 Partial Disposition Partial Disposition Final Disposition 8/6/2012 9/10/2012 9/11/2012 12/14/2012 $72,670,810,802 $750,000,002 Partial Disposition Total $4,999,999,993 8/3/2012 $44,941,843 Partial Disposition Payment 3/15/2012 $1,383,888,037 $749,999,972 Payment 3/8/2011 $2,009,932,072 5/7/2012 Payment 2/14/2011 $1,493,250,339 Partial Disposition Payment 3/22/2012 $1,521,632,096 $4,999,999,993 Payment 3/15/2012 $971,506,765 $5,576,121,382 5/6/2012 Payment 3/8/2012 Partial Disposition Payment 11/1/2011 $55,885,302 $6,000,000,008 Payment 9/2/2011 $2,153,520,000 3/8/2012 Payment 8/18/2011 $97,008,351 Partial Disposition Payment 8/17/2011 $55,833,333 $5,511,067,614 $5,800,000,000 Payment 3/15/2011 $185,726,192 $— Proceeds8 Partial Disposition Payment 3/8/2011 Par Pricing Mechanism Final Disposition $25,156,691 $5,768 $25,150,923 Proceeds $40,000,000,000 Amount 5/24/2011 Cancellation Payment 5/27/2011 Transaction Type 2/14/2011 Date Total Warrant Proceeds Repurchase Warrants (Series D) 3/1/2013 Transaction Type Investment Preferred Stock w/ Warrants (Series E)1 Investment Description Date Final Disposition $2,000,000,000 Treasury Holdings Post-Recapitalization See table below for exchange/ transfer details in connection with the recapitalization conducted on 1/14/2011. Exchange Transaction Type Preferred Stock (Series G) $69,835,000,000 Initial Total Par2 4/17/2009 Date Exchange $29,835,000,000 Preferred Stock w/ Warrants (Series F) Par Pricing Mechanism Investment Description $40,000,000,000 Preferred Stock w/ Warrants (Series D) Investment Amount Exchange/Transfer Details Transaction Type Recapitalization Purchase Purchase Preferred Stock (Series E) Preferred Stock (Series F) Investment Description AIG, New York, NY 11/25/2008 AIG, New York, NY 1 Investment Description Transaction Type Name of Institution Date Note Purchase Details Seller SSFI (AIG) PROGRAM TRANSACTION DETAIL, AS OF 3/31/2016 TABLE C.10 N/A N/A N/A N/A N/A N/A N/A N/A N/A Par Par Par Par Par Par Par Par Par Par Par Par Par N/A Pricing Mechanism $54.05 $54.05 Stock Price 0% 234,169,15615 16% 234,169,15614 22% 317,246,07814 53% 871,092,23113 55% 895,682,39513 61% 1,059,616,82112 63% 1,084,206,98412 70% 1,248,141,41011 77% 1,455,037,9629 $—8 $—8 $—10 Remaining Recap Investment Amount, Shares, or Equity % — —- Outstanding Warrant Shares $641,275,676 $—- Dividends/ Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 301 (CONTINUED) Floating Rate SBA 7a security due 2021 Floating Rate SBA 7a security due 2029 Floating Rate SBA 7a security due 2026 Floating Rate SBA 7a security due 2035 9/14/2010 9/14/2010 9/14/2010 9/28/2010 Floating Rate SBA 7a security due 2020 Floating Rate SBA 7a security due 2020 8/31/2010 Floating Rate SBA 7a security due 2024 8/31/2010 9/14/2010 Floating Rate SBA 7a security due 2020 Floating Rate SBA 7a security due 2020 8/31/2010 Floating Rate SBA 7a security due 2019 8/17/2010 8/17/2010 Floating Rate SBA 7a security due 2034 7/29/2010 Floating Rate SBA 7a security due 2020 Floating Rate SBA 7a security due 2017 7/14/2010 8/17/2010 Floating Rate SBA 7a security due 2034 7/14/2010 7/29/2010 Floating Rate SBA 7a security due 2020 Floating Rate SBA 7a security due 2025 7/14/2010 Floating Rate SBA 7a security due 2020 Floating Rate SBA 7a security due 2033 Floating Rate SBA 7a security due 2034 Floating Rate SBA 7a security due 2029 5/25/2010 5/25/2010 6/17/2010 Floating Rate SBA 7a security due 2033 5/11/2010 6/17/2010 Floating Rate SBA 7a security due 2035 5/11/2010 Coastal Securities Floating Rate SBA 7a security due 2016 Floating Rate SBA 7a security due 2020 4/8/2010 Floating Rate SBA 7a security due 2034 4/8/2010 5/11/2010 Coastal Securities Floating Rate SBA 7a security due 2022 3/19/2010 Coastal Securities Coastal Securities Coastal Securities Coastal Securities Shay Financial Shay Financial Coastal Securities Shay Financial Shay Financial Coastal Securities Coastal Securities Shay Financial Shay Financial Coastal Securities Shay Financial Shay Financial Coastal Securities Coastal Securities Coastal Securities Coastal Securities Coastal Securities Coastal Securities Coastal Securities Coastal Securities Coastal Securities Coastal Securities Floating Rate SBA 7a security due 2025 Floating Rate SBA 7a security due 2022 3/19/2010 Institution Name 3/19/2010 Investment Description Purchase Date Purchase Details1 83164K5M1 83164K5L3 83164K5F6 83165AFK5 83165AFC3 83164K5H2 83165AFA7 83165AEW0 83165AE91 83165AFB5 83165AEZ3 83164K4M2 83164K4E0 83165AE42 83164K4J9 83164K3Y7 83165AEP5 83165AEQ3 83165AEK6 83164K3B7 83165AED2 83164K2Q5 83165AEE0 83164KZH9 83165AD84 83165ADE1 83165ADC5 83164KYN7 CUSIP UCSB TRANSACTION DETAIL, AS OF 3/31/2016 TABLE C.11 $3,450,000 $5,741,753 $5,750,000 $8,050,000 $8,902,230 $6,900,000 $10,350,000 $9,272,482 $10,000,000 $5,000,000 $8,279,048 $9,719,455 $2,598,386 $13,183,361 $6,860,835 $6,004,156 $28,209,085 $34,441,059 $17,119,972 $8,417,817 $8,744,333 $12,898,996 $10,751,382 $8,900,014 $23,500,000 $8,030,000 $7,617,617 $4,070,000 Purchase Face Amount3 110.875 110.5 106.5 110.759 111.584 105.875 112.476 110.515 110.821 110.088 110.198 106.75 108.438 111.86 108.505 106.625 112.028 110.785 109.553 110.125 110.798 109.42 106.806 107.5 110.502 108.875 109 107.75 Pricing Mechanism - - - - - - - - - - - - - - - - - - - - - - - - - - — — TBA or PMF3 11/30/2010 11/30/2010 11/30/2010 11/30/2010 10/29/2010 11/30/2010 10/29/2010 9/29/2010 10/29/2010 10/29/2010 9/30/2010 10/29/2010 9/30/2010 9/30/2010 9/30/2010 9/30/2010 8/30/2010 8/30/2010 7/30/2010 7/30/2010 6/30/2010 6/30/2010 6/30/2010 4/30/2010 5/28/2010 3/24/2010 3/24/2010 3/24/2010 Settlement Date Settlement Details $3,834,428 $6,361,173 $6,134,172 $8,940,780 $9,962,039 $7,319,688 $11,672,766 $10,277,319 $11,115,031 $5,520,652 $9,150,989 $10,394,984 $2,826,678 $14,789,302 $7,462,726 $6,416,804 $31,693,810 $38,273,995 $18,801,712 $9,294,363 $9,717,173 $14,151,229 $11,511,052 $9,598,523 $26,041,643 $8,716,265 $8,279,156 $4,377,249 Investment Amount2,3 Sources: Treasury, Transactions Report, 3/25/2016; Treasury, Dividends and Interest Report, 4/11/2016; Yahoo! Finance, finance.yahoo.com, accessed 4/1/2016. 2 1 - - - - - - - - - - - - - - - - - - - - - - - - - - - — TBA or PMF3 $1,912 $3,172 $3,061 $4,458 $4,966 $3,652 $5,820 $5,123 $5,541 $2,752 $4,561 $5,187 $1,408 $7,373 $3,722 $3,200 $15,801 $19,077 $9,377 $4,635 $4,844 $7,057 $5,741 $4,783 $12,983 $4,348 $4,130 $2,184 Senior Security Proceeds4 10/19/2011 1/24/2012 1/24/2012 1/24/2012 1/24/2012 1/24/2012 10/19/2011 9/20/2011 10/19/2011 10/19/2011 9/20/2011 6/21/2011 1/24/2012 6/21/2011 10/19/2011 6/21/2011 9/20/2011 6/21/2011 9/20/2011 6/7/2011 6/7/2011 6/7/2011 6/7/2011 6/7/2011 6/7/2011 6/21/2011 10/19/2011 6/21/2011 Trade Date $82,832 $1,433,872 $276,276 $996,133 $1,398,549 $663,200 $250,445 $868,636 $969,461 $419,457 $1,853,831 $188,009 $694,979 $478,520 $339,960 $348,107 $2,278,652 $1,784,934 $2,089,260 $246,658 $261,145 $328,604 $932,112 $2,357,796 $1,149,633 $2,022,652 $1,685,710 $902,633 Life-to-date Principal Received1,8 $3,367,168 $4,307,881 $5,473,724 $7,053,867 $7,503,681 $6,236,800 $10,099,555 $8,403,846 $9,030,539 $4,580,543 $6,425,217 $9,531,446 $1,903,407 $12,704,841 $6,520,875 $5,656,049 $25,930,433 $32,656,125 $15,030,712 $8,171,159 $8,483,188 $12,570,392 $9,819,270 $6,542,218 $22,350,367 $5,964,013 $5,891,602 $3,151,186 Current Face Amount6,8 Final Disposition $111,165 $239,527 $156,481 $354,302 $447,356 $209,956 $425,545 $386,326 $433,852 $213,319 $335,082 $181,124 $140,130 $423,725 $255,370 $146,030 $1,254,222 $1,286,450 $657,863 $287,624 $368,608 $479,508 $348,599 $414,561 $1,089,741 $371,355 $449,518 $169,441 Interest Paid to Treasury Continued on next page $3,698,411 $4,693,918 $5,764,858 $7,703,610 $8,269,277 $6,556,341 $11,314,651 $9,230,008 $9,994,806 $5,029,356 $7,078,089 $10,223,264 $2,052,702 $14,182,379 $7,105,304 $6,051,772 $29,142,474 $36,072,056 $16,658,561 $8,985,818 $9,482,247 $13,886,504 $10,550,917 $7,045,774 $25,039,989 $6,555,383 $6,462,972 $3,457,746 Disposition Amount5,6 4/17/2009, Treasury exchanged its Series D Fixed Rate Cumulative Preferred Shares for Series E Fixed Rate Non-Cumulative Preferred Shares with no change to Treasury’s initial investment amount. In addition, in order for AIG to fully redeem the Series E Preferred Shares, it had an additional obligation to Treasury of On $1,604,576,000 to reflect the cumulative unpaid dividends for the Series D Preferred Shares due to Treasury through and including the exchange date. The investment amount reflected Treasury’s commitment to invest up to $30 billion less a reduction of $165 million representing retention payments AIG Financial Products made to its employees in March 2009. 3 This transaction does not include AIG’s commitment fee of an additional $165 million paid from its operating income over the life of the facility. A $55 million payment was received by Treasury on 12/17/2010. The remaining $110 million payment was received by Treasury on 5/27/2011. 4 1/14/2011, (A) Treasury exchanged $27,835,000,000 of Treasury’s investment in AIG’s Fixed Rate Non-Cumulative Perpetual Preferred Stock (Series F) which is equal to the amount funded (including amounts drawn at closing) under the Series F equity capital facility, for (i) the transferred SPV preferred interests and (ii) On 167,623,733 shares of AIG Common Stock, and (B) Treasury exchanged $2,000,000,000 of undrawn Series F for 20,000 shares of preferred stock under the new Series G Cumulative Mandatory Convertible Preferred Stock equity capital facility under which AIG has the right to draw up to $2,000,000,000. 5 1/14/2011, Treasury exchanged an amount equivalent to the $40 billion initial investment plus capitalized interest from the April 2009 exchange (see note 1 above) of Fixed Rate Non-Cumulative Perpetual Preferred Stock (Series E) for 924,546,133 shares of AIG Common Stock. On 6 1/14/2011, Treasury received 562,868,096 shares of AIG Common Stock from the AIG Credit Facility Trust, which trust was established in connection with the credit facility between AIG and the Federal Reserve Bank of New York. This credit facility was repaid and terminated pursuant to this recapitalization transaction. On The trust had received 562,868,096 shares of AIG common stock in exchange for AIG’s Series C Perpetual, Convertible Participating Preferred Stock, which was previously held by the trust for the benefit of the U.S. Treasury. 7 The amount of Treasury’s AIA Preferred Units and ALICO Junior Preferred Interests holdings do not reflect preferred returns on the securities that accrue quarterly. 8 Proceeds include amounts applied to pay (i) accrued preferred returns and (ii) redeem the outstanding liquidation amount. 9 5/27/2011, Treasury completed the sale of 200,000,000 shares of common stock at $29.00 per share for total proceeds of $5,800,000,000, pursuant to an underwriting agreement executed on 5/24/2011. On 10 5/27/2011, pursuant to the terms of the agreements governing the Preferred Stock (Series G), the available amount of the Preferred Stock (Series G) was reduced to $0 as a result of AIG’s primary offering of its common stock and the Preferred Stock (Series G) was cancelled. On 11 3/13/2012, Treasury completed the sale of 206,896,552 shares of common stock at $29.00 per share for total proceeds of $6,000,000,008, pursuant to an underwriting agreement executed on 3/8/2012. On 12 5/10/2012, Treasury completed the sale of 188,524,589 shares of common stock at $30.50 per share for total proceeds of $5,749,999,965, pursuant to an underwriting agreement executed on 5/6/2012. On 13 8/8/2012, Treasury completed the sale of 188,524,590 shares of common stock at $30.50 per share for total proceeds of $5,749,999,995, pursuant to an underwriting agreement executed on 8/3/2012. On 14 9/14/2012, Treasury completed the sale of 636,923,075 shares of common stock at $32.50 per share for total proceeds of $20,699,999,938, pursuant to an underwriting agreement executed on 9/10/2012. On 15 12/14/2012, Treasury completed the sale of 234,169,156 shares of common stock at $32.50 per share for total proceeds of $7,610,497,570, pursuant to an underwriting agreement executed on 12/10/2012. On Notes: Numbers may not total due to rounding. Data as of 3/31/2016. Numbered notes were taken verbatim from the Treasury’s 3/25/2016, Transactions Report, and Treasury’s 4/11/2016, Dividends and Interest Report. AIFP TRANSACTION DETAIL, AS OF 3/31/2016 302 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Floating Rate SBA 7a security due 2035 9/28/2010 9/28/2010 $332,596,893 Total Purchase Face Amount $13,402,491 $11,482,421 Purchase Face Amount3 $14,950,000 83165AFM1 83165AFT6 CUSIP 83165AFQ2 Shay Financial Shay Financial Coastal Securities Institution Name - - - TBA or PMF3 12/30/2010 11/30/2010 12/30/2010 Settlement Date $17,092,069 $15,308,612 $13,109,070 Investment Amount2,3 Total Senior Security Proceeds - - - TBA or PMF3 $183,555 $8,521 $7,632 $6,535 Senior Security Proceeds4 1/24/2012 10/19/2011 1/24/2012 Trade Date $14,562,161 $12,963,737 $10,592,775 Current Face Amount6,8 Final Disposition Total Disposition Proceeds $387,839 $438,754 $889,646 Life-to-date Principal Received1,8 $334,924,711 $16,383,544 $14,433,039 $11,818,944 Disposition Amount5,6 $13,347,352 $681,819 $516,624 $512,131 Interest Paid to Treasury Sources: Treasury, Transactions Report, 3/25/2016; Treasury, Dividends and Interest Report, 4/11/2016. 2 1 *Subject to adjustment The amortizing principal and interest payments are reported on the monthly Dividends and Interest Report available at www.FinancialStability.gov. Investment Amount is stated after applying the appropriate month’s factor and includes accrued interest paid at settlement, if applicable. 3 a purchase is listed as TBA, or To-Be-Announced, the underlying loans in the SBA Pool have yet to come to market, and the TBA pricing mechanism, purchase face amount, investment amount and senior security proceeds will be adjusted within the variance permitted under the program terms. If a purchase is If listed as PMF, or Prior-Month-Factor, the trade was made prior to the applicable month’s factor being published and the SBA 7a security and senior security are priced according to the prior-month’s factor. The PMF investment amount and senior security proceeds will be adjusted after publication of the applicable month’s factor (on or about the 11th business day of each month). 4 order to satisfy the requirements under Section 113 of the Emergency Economic Stabilization Act of 2008, Treasury will acquire a senior indebtedness instrument (a Senior Security) from the seller of each respective SBA 7a Security. Each Senior Security will (i) have an aggregate principal amount equal to the In product of (A) 0.05% and (B) the Investment Amount (excluding accrued interest) paid by Treasury for the respective SBA 7a Security, and (ii) at the option of the respective seller, may be redeemed at par value immediately upon issuance, or remain outstanding with the terms and conditions as set forth in the Master Purchase Agreement. 5 Disposition Amount is stated after applying the appropriate month’s factor and includes accrued interest received at settlement, if applicable. If the disposition is listed as PMF, the disposition amount will be adjusted after publication of the applicable month’s factor. 6 a disposition is listed as PMF, or Prior-Month-Factor, the trade was made prior to the applicable month’s factor being published and the SBA 7a security is priced according to the prior-month’s factor. The PMF disposition amount will be adjusted after publication of the applicable month’s factor (on or about the 11th If business day of each month). 7 Total Program Proceeds To Date includes life-to-date disposition proceeds, life-to-date principal received, life-to-date interest received, and senior security proceeds (excluding accruals). 8 The sum of Current Face Amount and Life-to-date Principal Received will equal Purchase Face Amount for CUSIPs that were originally purchased as TBAs only after the applicable month’s factor has been published and trailing principal & interest payments have been received. $368,145,452 Settlement Details Total Investment Amount* 114.006 113.9 113.838 Pricing Mechanism (CONTINUED) Notes: Numbers affected by rounding. Data as of 3/31/2016. Numbered notes were taken verbatim from Treasury’s 3/25/2016, Transactions Report. Floating Rate SBA 7a security due 2034 Floating Rate SBA 7a security due 2034 9/28/2010 Investment Description Purchase Date Purchase Details1 UCSB TRANSACTION DETAIL, AS OF 3/31/2016 TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 303 DE Purchase DE Purchase UST/TCW Senior Mortgage Wilmington Securities Fund, L.P. Invesco Legacy Securities Master Wilmington Fund, L.P. 2,4,5 9/30/2009 1,4,5 9/30/2009 1,6 9/30/2009 DE Purchase UST/TCW Senior Mortgage Wilmington Securities Fund, L.P. City Institution Note Date Membership Interest Membership Interest Debt Obligation w/ Contingent Proceeds Transaction Investment State Type Description Seller $1,111,111,111 $1,111,111,111 $2,222,222,222 Commitment Amount PPIP TRANSACTION DETAIL, AS OF 3/31/2016 TABLE C.12 Date Par 3/22/2010 Par 1/4/2010 Par 1/4/2010 Pricing Mechanism $1,244,437,500 7/16/2010 $156,250,000 1/4/2010 $200,000,000 1/4/2010 Amount $856,000,000 $156,250,000 $200,000,000 Final Commitment Amount7 Amount Date Preliminary Adjusted Commitment3 $34,000,000 $2,444,347 $156,250,000 $3,533,199 $30,011,187 $66,463,982 $15,844,536 $13,677,726 $48,523,845 $68,765,544 $77,704,254 $28,883,733 $9,129,709 $31,061,747 $10,381,214 $6,230,731 $1,183,959 $1,096,185 $1,601,688 $3,035,546 $161,386,870 $580,960,000 2/18/2010 1/15/2010 1/12/2010 $156,250,000 $166,000,000 $200,000,000 1/11/2010 Repayment Amount Capital Repayment Details Repayment Amount Date Final Investment Amount9 4/15/2010 9/15/2010 11/15/2010 12/14/2010 1/14/2011 2/14/2011 3/14/2011 4/14/2011 5/20/2011 6/14/2011 7/15/2011 8/12/2011 10/17/2011 12/14/2011 1/17/2012 2/14/2012 3/14/2012 3/29/2012 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest Contingent Proceeds Final Distribution5 Final Distribution5 8/9/2012 Distribution5 3/29/2012 Distribution5 2/24/2010 1/29/2010 Distribution5 2/24/2010 1/29/2010 Distribution5 7/8/2013 Distribution5,14 Final Membership 9/28/2012 Distribution5 $—-Interest10 Adjusted 6/4/2013 Distribution5,13 $161,386,870 $164,422,415 $166,024,103 $167,120,288 $168,304,246 $174,534,977 $184,916,192 $215,977,938 $225,107,647 $253,991,380 $331,695,634 $400,461,178 $448,985,023 $462,662,749 $478,507,285 $544,971,267 $574,982,454 $578,515,653 $—- $—- Debt Obligation $166,000,000 w/Contingent Proceeds Description Distribution or Disposition Amount Description Date Investment After Capital Repayment $99,764,742 $342,176 Continued on next page $64,444 $69,399 $18,772 $1,056,751 $56,390,209 $48,922 $20,091,872 $1,223 $502,302 Proceeds Interest/ Distributions Paid to Treasury 304 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Invesco Legacy Securities Master Wilmington Fund, L.P. 2,6,8 9/30/2009 City Institution Note Date DE Purchase Debt Obligation w/ Contingent Proceeds Transaction Investment State Type Description Seller $2,222,222,222 Date Final Commitment Amount7 $132,928,628 $31,689,230 $27,355,590 $92,300,138 $128,027,536 $155,409,286 $75,085,485 $18,259,513 $62,979,809 $20,762,532 $37,384,574 $7,103,787 $6,577,144 $9,610,173 11/15/2010 12/14/2010 1/14/2010 2/14/2011 3/14/2011 4/14/2011 5/20/2011 6/14/2011 7/15/2011 8/12/2011 10/17/2011 12/14/2011 1/17/2012 2/14/2012 $284,468,750 $294,078,924 $300,656,067 $307,759,854 $345,144,428 $365,906,960 $428,886,768 $447,146,281 $522,231,766 $677,641,052 $805,668,588 $897,968,726 $925,324,316 $957,013,546 $60,022,674 $1,089,942,174 9/15/2010 Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds $7,066,434 $1,149,964,848 4/15/2010 Description Distribution or Disposition Amount Description Date Investment After Capital Repayment $2,488,875,000 9/26/2011 $1,161,920,000 $1,161,920,000 2/18/2010 Amount Repayment Amount Capital Repayment Details Repayment Amount Date Final Investment Amount9 Debt Obligation w/ $4,888,718 $1,157,031,282 Contingent Proceeds Amount Date Preliminary Adjusted Commitment3 Par 3/22/2010 Pricing Mechanism (CONTINUED) Commitment Amount PPIP TRANSACTION DETAIL, AS OF 3/31/2016 Continued on next page Proceeds Interest/ Distributions Paid to Treasury TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 305 DE Purchase Wilmington Wellington Management Legacy Securities PPIF Master Fund, LP AllianceBernstein Legacy Wilmington Securities Master Fund, L.P. 10/1/2009 10/1/2009 2,6 1,6 2,6, 10/2/2009 12 DE Purchase Wilmington Wellington Management Legacy Securities PPIF Master Fund, LP DE Purchase City Institution Note Date $1,111,111,111 $2,222,222,222 Commitment Amount $2,222,222,222 Debt Obligation w/ Contingent Proceeds Date Par 3/22/2010 Par 3/22/2010 Final Commitment Amount7 $284,468,750 3/14/2012 $—- $341,479,690 $436,447,818 $243,459,145 2/13/2013 3/13/2013 $—- $243,459,145 $679,906,963 Debt Obligation w/ Contingent Proceeds 6/14/2011 Debt Obligation w/ Contingent Proceeds 5/3/2012 5/14/2012 $30,000,000 $1,987,667,339 Debt Obligation w/ $80,000,000 $2,017,667,339 Contingent Proceeds $88,087 $2,097,667,339 $469 $1,735 Adjusted Distribution5,13 Distribution5,14 6/4/2013 7/8/2013 $16,195,771 7/11/2013 Distribution5,11 $252,376,156 $229,105,784 Interest/ Distributions Paid to Treasury Continued on next page $2,802,754 $479,509,240 $69,932 4/17/2013 Distribution5,11 $1,611 $40,556 Distribution5 Final Distribution5 8/9/2012 9/28/2012 3/29/2012 Distribution5 5 Membership 3/13/2013 Distribution Interest10 7/11/2013 Distribution5,11 Membership Interest10 Membership Interest10 Membership Interest10 $2,488,875,000 7/16/2010 $2,300,847,000 $2,128,000,000 5/16/2011 $254,581,112 1/15/2013 $934,488,075 Membership Interest10 Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ $30,244,575 $2,097,755,425 Contingent Proceeds $152,499,238 9/17/2012 $62,499,688 $1,086,987,313 $341,479,690 1/24/2013 $1,262,037,500 7/16/2010 $1,149,487,000 $1,149,487,000 7/16/2012 $97,494,310 1/15/2013 $438,974,000 $800,000,000 $1,068,974,000 12/6/2012 $630,000,000 $305,000,000 $1,868,974,000 Debt Obligation w/ Contingent Proceeds Contingent $—Proceeds 9/17/2012 12/21/2012 Proceeds $3,434,460 Description Distribution or Disposition Amount Description Date Investment After Capital Repayment $125,000,000 $2,173,974,000 Amount Repayment Amount Capital Repayment Details Repayment Amount Date Final Investment Amount9 $2,524,075,000 7/16/2010 $2,298,974,000 $2,298,974,000 6/26/2012 Amount Date Preliminary Adjusted Commitment3 Par 3/22/2010 Pricing Mechanism (CONTINUED) Membership Interest Debt Obligation w/ Contingent Proceeds Transaction Investment State Type Description Seller PPIP TRANSACTION DETAIL, AS OF 3/31/2016 306 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 1,6 10/2/2009 AllianceBernstein Legacy Wilmington Securities Master Fund, L.P. City Institution Note Date DE Purchase Membership Interest Transaction Investment State Type Description Seller $1,111,111,111 Date Final Commitment Amount7 $272,500,000 $583,467,339 8/14/2012 8/22/2012 7/16/2012 $68,749,656 $361,248,194 $292,454,480 8/14/2012 8/30/2012 -$460 $75,278,664 Distribution Refund $16,967 8/13/2013 12/21/2012 Distribution5,11 Interest/ Distributions Paid to Treasury Continued on next page -$18,405 $678,683 Distribution Refund $25,909,972 12/21/2012 Distribution5,11 8/13/2013 $79,071,633 $106,300,357 9/19/2012 Distribution5,11 Membership $— 10/1/2012 Distribution5,11 Interest10 Membership Interest10 Membership Interest10 9/12/2012 Distribution5,11 $292,454,480 $653,702,674 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 $12,012,957 10/3/2012 Distribution5,11 Proceeds 8/30/2012 Distribution5,11 $39,999,800 $1,009,550,894 5/14/2012 7/16/2012 $7,118,388 $1,049,550,694 4/14/2011 $722,452,330 $6,716,327 $1,056,669,083 3/14/2011 $287,098,565 $712,284 $1,063,385,410 2/14/2011 6/14/2012 Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Contingent $— Proceeds $583,467,339 $855,967,339 $17,500,000 $1,305,967,339 6/25/2012 $450,000,000 $120,000,000 $1,323,467,339 6/14/2012 7/27/2012 Debt Obligation w/ Contingent Proceeds $44,200,000 $1,443,467,339 5/23/2012 Debt Obligation w/ Contingent Proceeds Debt Obligation w/ $500,000,000 $1,487,667,339 Contingent Proceeds Description Distribution or Disposition Amount Description Date Investment After Capital Repayment $44,043 $1,064,097,694 Amount Repayment Amount Capital Repayment Details Repayment Amount Date Final Investment Amount9 $1,244,437,500 7/16/2010 $1,150,423,500 $1,064,141,738 1/15/2010 Amount Date Preliminary Adjusted Commitment3 Par 3/22/2010 Pricing Mechanism (CONTINUED) Commitment Amount PPIP TRANSACTION DETAIL, AS OF 3/31/2016 TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 307 City Wilmington Wilmington Wilmington Institution Blackrock PPIF, L.P. Blackrock PPIF, L.P. Note Date 10/2/2009 10/2/2009 AG GECC PPIF 10/30/2009 Master Fund, L.P. 2,6 1,6 2,6 DE Purchase DE Purchase DE Purchase $1,111,111,111 $2,222,222,222 Debt Obligation w/ Contingent Proceeds $2,222,222,222 Commitment Amount Date Par 3/22/2010 Par 3/22/2010 Final Commitment Amount7 $175,000,000 Amount Repayment Amount Capital Repayment Details Repayment Amount Date Final Investment Amount9 $25,334,218 $794,459,374 9/28/2012 10/15/2012 10/18/2012 $90,269,076 $35,000,000 9/17/2012 $419,026,439 10/15/2012 11/5/2012 $— $419,026,439 $429,082,092 $437,915,724 $— $1,433,088 $150,000,000 $1,711,673,340 5/14/2012 Debt Obligation w/ Contingent Proceeds $136,800,000 $1,537,373,340 $250,000,000 $1,287,373,340 7/16/2012 8/14/2012 9/17/2012 Debt Obligation w/ Contingent Proceeds Debt Obligation w/ $37,500,000 $1,674,173,340 Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds $198,925,000 $1,861,673,340 3/14/2012 $8,289,431 Proceeds 12/6/2013 Distribution5,11 $283,096,130 $72,443,278 Interest/ Distributions Paid to Treasury Continued on next page $1,609,739 $57,378,964 $297,511,708 $141,894 12/5/2012 Distribution5,11 11/5/2012 Distribution5,11 11/5/2012 Distribution5,11 Membership 12/5/2012 Distribution5,11 Interest10 12/6/2013 Distribution5,11 Membership Interest10 Membership Interest10 Membership Interest10 Contingent Proceeds $2,542,675,000 7/16/2010 $2,486,550,000 $2,234,798,340 2/14/2012 $10,055,653 9/17/2012 Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ $794,459,374 Contingent Proceeds $819,793,592 $854,793,592 $856,460,945 $872,460,945 Debt Obligation w/ $878,000,000 Contingent Proceeds Description Distribution or Disposition Amount Description Date Investment After Capital Repayment Debt Obligation w/ $174,200,000 $2,060,598,340 Contingent Proceeds $8,833,632 $528,184,800 8/14/2012 $1,667,352 8/31/2012 $694,980,000 $16,000,000 8/14/2012 $1,244,437,500 7/16/2010 $5,539,055 $2,488,875,000 7/16/2010 $1,389,960,000 $1,053,000,000 7/31/2012 Amount Date Preliminary Adjusted Commitment3 Par 3/22/2010 Pricing Mechanism (CONTINUED) Membership Interest Debt Obligation w/ Contingent Proceeds Transaction Investment State Type Description Seller PPIP TRANSACTION DETAIL, AS OF 3/31/2016 308 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 1,6 Institution City AG GECC PPIF 10/30/2009 Master Fund, Wilmington DE Purchase L.P. Note Date Membership Interest Transaction Investment State Type Description Seller $1,111,111,111 Date Final Commitment Amount7 Amount $481,350,000 $274,590,324 $147,534,295 $182,823,491 $201,075,230 10/15/2012 11/15/2012 12/14/2012 1/15/2013 2/14/2013 $99,462,003 $74,999,625 $18,749,906 $68,399,658 $124,999,375 $240,673,797 $45,764,825 $24,588,926 $30,470,429 $295,328,636 $6,862,425 3/14/2012 5/14/2012 7/16/2012 8/14/2012 9/17/2012 10/15/2012 11/15/2012 12/14/2012 1/15/2013 2/14/2013 2/21/2013 Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds $— $6,862,425 $302,191,061 $332,661,491 $357,250,417 $403,015,242 $643,689,039 $768,688,414 $837,088,072 $855,837,978 $930,837,603 $17,118,005 $1,230,643 4/25/2013 Distribution5,11 Final Distribution5,11 $42,099,442 $49,225,244 $1,748,833 5/29/2013 Distribution5,11 Final Distribution5,11 Interest/ Distributions Paid to Treasury Continued on next page $105,620,441 Membership 4/19/2013 Distribution5,11 Interest10 4/25/2013 Distribution5,11 9/30/2014 $20,999,895 $156,174,219 3/14/2013 Distribution5,11 $184,431,858 2/21/2013 Distribution5,11 9/30/2014 $41,556 5/29/2013 Distribution5,11 $1,052,497 4/19/2013 Distribution5,11 Proceeds 2/27/2013 Distribution5,11 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Contingent $— Proceeds $201,075,230 $383,898,721 $531,433,016 Debt Obligation w/ $806,023,340 Contingent Proceeds Description Distribution or Disposition Amount Description Date Investment After Capital Repayment $87,099,565 $1,030,299,606 Repayment Amount Capital Repayment Details Repayment Amount Date Final Investment Amount9 $1,271,337,500 7/16/2010 $1,243,275,000 $1,117,399,170 2/14/2012 Amount Date Preliminary Adjusted Commitment3 Par 3/22/2010 Pricing Mechanism (CONTINUED) Commitment Amount PPIP TRANSACTION DETAIL, AS OF 3/31/2016 TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 309 City Wilmington Wilmington Institution RLJ Western Asset Public/ Private Master Fund, L.P. RLJ Western Asset Public/ Private Master Fund, L.P. Note Date 11/4/2009 11/4/2009 2,6 1,6 DE Purchase DE Purchase Membership Interest Debt Obligation w/ Contingent Proceeds Transaction Investment State Type Description Seller $1,111,111,111 $2,222,222,222 Date Par 3/22/2010 Final Commitment Amount7 $20,637,410 $161,866,170 9/17/2012 9/21/2012 $1,202,957 $103,706,836 8/29/2012 $3,521,835 $104,959,251 $72,640,245 $180,999,095 $134,999,325 $122,255,550 $620,578,258 3/14/2011 $160,493,230 8/23/2012 $620,578,258 $11,008,652 8/14/2012 $1,244,437,500 7/16/2010 $151,006,173 8/9/2012 4/14/2011 8/14/2012 9/17/2012 9/28/2012 10/15/2012 10/19/2012 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Membership $— Interest10 $122,255,550 $257,254,875 $438,253,970 $510,894,215 $615,853,465 $619,375,301 $— $161,866,170 $182,503,579 $286,210,415 $446,703,645 $457,712,297 Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds $608,718,470 $618,750,000 7/31/2012 $6,789,287 Proceeds $13,750 $1,884 $1,544 11/2/2012 Distribution5,11 5,11 Final Distribution5,11 1/28/2015 Distribution5,15 $147,464,888 Final 12/11/2013 Distribution5,11 5,15 $161,505,775 Interest/ Distributions Paid to Treasury Continued on next page $61,767 $75,372 12/21/2012 Distribution5,11 1/28/2015 $549,997 11/2/2012 Distribution5,11 Distribution $148,749,256 10/19/2012 Distribution5,11 12/11/2013 12/21/2012 Distribution $3,718,769 10/19/2012 Distribution5,11 Description Distribution or Disposition Amount Description Date Investment After Capital Repayment $2,488,875,000 7/16/2010 $1,241,156,516 $1,241,000,000 5/13/2011 Amount Repayment Amount Capital Repayment Details Repayment Amount Date Final Investment Amount9 Debt Obligation w/ $13,531,530 $1,227,468,470 Contingent Proceeds Amount Date Preliminary Adjusted Commitment3 Par 3/22/2010 Pricing Mechanism (CONTINUED) Commitment Amount PPIP TRANSACTION DETAIL, AS OF 3/31/2016 310 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 DE Purchase Oaktree PPIP Fund, L.P. 2,6 Wilmington DE Purchase Marathon Legacy Securities 11/25/2009 Public-Private Wilmington Investment Partnership, L.P. 1,6 12/18/2009 DE Purchase City 2,6 Institution Marathon Legacy Securities Wilmington 11/25/2009 Public-Private Investment Partnership, L.P. Note Date $1,111,111,111 $2,222,222,222 Commitment Amount $2,222,222,222 Debt Obligation w/ Contingent Proceeds Date Par 3/22/2010 Par 3/22/2010 $47,755,767 $62,456,214 $375,212,503 12/14/2012 1/15/2013 1/24/2013 $74,499,628 $195,000,000 11/20/2012 $59,787,459 $40,459,092 $10,409,317 $219,998,900 $39,026,406 $30,369,198 $474,550,000 9/17/2012 $119,575,516 11/15/2012 11/15/2012 12/14/2012 1/15/2013 1/30/2013 2/25/2013 3/25/2013 $7,143,340 $750,004 5/16/2013 Distribution5,11 $142,168 Distribution5,11 9/5/2013 12/27/2013 Distribution5,11 $164,629,827 $100,001 7/11/2013 Distribution5,11 $963,411 4/16/2013 Distribution5,11 $38,536,072 $29,999,850 $3,999,980 $5,707,723 5,11 Membership 5/16/2013 Distribution $— Interest10 7/11/2013 Distribution5,11 Distribution5,11 9/5/2013 12/27/2013 Distribution5,11 $44,224,144 9/17/2012 $908,999,956 Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds $953,224,099 $78,775,901 3/14/2012 $66,648,417 $77,496,170 Interest/ Distributions Paid to Treasury Continued on next page $71,462,104 4/16/2013 Distribution5,11 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Proceeds 3/25/2013 Distribution5,11 $30,369,198 $69,395,604 $289,394,504 $299,803,821 $340,262,914 $400,050,373 $— $375,212,503 $437,668,717 $485,424,484 $680,424,484 Debt Obligation w/ $800,000,000 Contingent Proceeds Description Distribution or Disposition Amount Description Date Investment After Capital Repayment $2,488,875,000 7/16/2010 $2,321,568,200 $1,111,000,000 7/15/2011 $474,550,000 $149,000,000 $949,000,000 9/17/2012 Repayment Amount Capital Repayment Details Repayment Amount Date Final Investment Amount9 Debt Obligation w/ $79,000,000 $1,032,000,000 Contingent Proceeds $1,244,437,500 7/16/2010 $2,488,875,000 7/16/2010 Amount $949,100,000 Final Commitment Amount7 Amount Date Preliminary Adjusted Commitment3 Par 3/22/2010 Pricing Mechanism (CONTINUED) Membership Interest Debt Obligation w/ Contingent Proceeds Transaction Investment State Type Description Seller PPIP TRANSACTION DETAIL, AS OF 3/31/2016 TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 311 1,6 Institution Oaktree PPIP 12/18/2009 Fund, L.P. Note Date DE Purchase Initial Investment Amount Wilmington City $1,111,111,111 Commitment Amount Date Final Commitment Amount7 Amount Final Commitment Amount $21,856,403,574 $1,244,437,500 7/16/2010 $1,160,784,100 Amount Date Preliminary Adjusted Commitment3 Par 3/22/2010 Pricing Mechanism (CONTINUED) $30,000,000,000 Membership Interest Transaction Investment State Type Description Seller PPIP TRANSACTION DETAIL, AS OF 3/31/2016 $223,080,187 $111,080,608 $89,099,906 $109,610,516 $311,134,469 11/15/2012 12/14/2012 1/15/2013 4/12/2013 5/14/2013 $39,499,803 $64,994,269 10/15/2012 $22,111,961 $32,496,972 $111,539,536 $55,540,026 $14,849,910 $18,268,328 $70,605,973 $119,769,362 $31,835,008 3/14/2012 9/17/2012 10/15/2012 11/15/2012 12/14/2012 1/15/2013 4/12/2013 5/14/2013 5/28/2013 6/3/2013 Total Capital Repayment $18,625,147,938 $39,387,753 $555,904,633 7/15/2011 Repayment Amount Capital Repayment Details Repayment Amount Date Final Investment Amount9 Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds $— $31,835,008 $151,604,370 $222,210,343 $240,478,671 $255,328,581 $310,868,608 $422,408,144 $454,905,116 $477,017,077 $1,375,007 $700,004 $293,751 6/14/2013 Distribution5,11 6/24/2013 Distribution5,11 6/26/2013 Distribution5,11 $46,575,750 $27,999,860 6/14/2013 Distribution5,11 6/24/2013 Distribution5,11 $539,009 Final Distribution5,11 12/12/2013 Interest/ Distributions Paid to Treasury Continued on next page Total Proceeds5 $2,645,169,622 $40,974,795 Distribution5,11 7/9/2013 $11,749,941 $54,999,725 Distribution5,11 $13,475 Final Distribution5,11 12/12/2013 6/3/2013 $1,024,380 Distribution5,11 7/9/2013 6/3/2013 $1,960,289 $444,393 Proceeds Distribution5,11 5/28/2013 Distribution5,11 Membership 6/26/2013 Distribution5,11 Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership $516,404,830 Interest10 Contingent $— Proceeds $311,134,469 $420,744,985 $509,844,892 $620,925,500 Debt Obligation w/ $844,005,687 Contingent Proceeds Description Distribution or Disposition Amount Description Date Investment After Capital Repayment 312 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 (CONTINUED) Sources: Treasury, Transactions Report, 3/25/2016; Treasury, Dividends and Interest Report, 4/11/2016. 3 2 1 The equity amount may be incrementally funded. Commitment amount represents Treasury’s maximum obligation if the limited partners other than Treasury fund their maximum equity capital obligations. The loan may be incrementally funded. Commitment amount represents Treasury’s maximum obligation if Treasury and the limited partners other than Treasury fund 100% of their maximum equity obligations. Adjusted to show Treasury’s maximum obligations to a fund. 4 1/4/2010, Treasury and the fund manager entered into a Winding-Up and Liquidation Agreement. On 5 Distributions after capital repayments will be considered profit and are paid pro rata (subject to prior distribution of Contingent Proceeds to Treasury) to the fund’s partners, including Treasury, in proportion to their membership interests. These figures exclude pro-rata distributions to Treasury of gross investment proceeds (reported on the Dividends & Interest report), which may be made from time to time in accordance with the terms of the fund’s Limited Partnership Agreement. 6 Following termination of the TCW fund, the $3.33 billion of obligations have been reallocated to the remaining eight funds pursuant to consent letters from Treasury dated as of 3/22/2010. $133 million of maximum equity capital obligation and $267 million of maximum debt obligation were reallocated per fund, after adjustment for the $17.6 million and $26.9 million equity capital reallocations from private investors in the TCW fund to the Wellington fund and the AG GECC fund, respectively. The $356 million of final investment in the TCW fund will remain a part of Treasury’s total maximum S-PPIP investment amount. 7 Amount adjusted to show Treasury’s final capital commitment (membership interest) and the maximum amount of Treasury’s debt obligation that may be drawn down in accordance with the Loan Agreement. 8 9/26/2011, the General Partner notified Treasury that the Investment Period was terminated in accordance with the Limited Partnership Agreement. As a result, the Final Investment Amount, representing Treasury’s debt obligation, has been reduced to the cumulative amount of debt funded. On 9 Cumulative capital drawn at end of the Investment Period. 10 The Amount is adjusted to reflect pro-rata equity distributions that have been deemed to be capital repayments to Treasury. 11 Distribution represents a gain on funded capital and is subject to revision pending any additional fundings of the outstanding commitment. 12 8/23/2012, AllianceBernstein agreed to de-obligate its unused debt commitment. The Final Investment Amount represents the cumulative capital drawn as of the de-obligation. On 13 6/5/2013, Invesco Mortgage Recovery Master Fund L.P. made a distribution to Treasury that is the result of adjustments made to positions previously held by the Invesco Legacy Securities Master Fund, L.P. “Partnership”, of which The U.S. Department of the Treasury is a Limited Partner. The adjusted distribution was On, made 18 months after the Final Distribution on 9/28/2012. 14 7/8/2013, Invesco Mortgage Recovery Master Fund L.P. made a distribution to Treasury arising from the Settlement Agreement between Jefferies LLC and Invesco Advisers, Inc. dated as of 3/20/2013. On 15 1/28/2015, Western Asset Management Company made a distribution to Treasury in respect of certain settlement proceeds. On Notes: Numbers may not total due to rounding. Data as of 3/31/2016. Numbered notes were taken verbatim from Treasury’s 3/25/2016, Transactions Report. PPIP TRANSACTION DETAIL, AS OF 3/31/2016 TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 313 Purchase Purchase Name of Institution 21st Mortgage Corporation, Knoxville, TN AgFirst Farm Credit Bank, Columbia, SC Date 3/14/2013 9/30/2010 Transaction Type $0 $100,000 Financial Instrument for Home Loan Modifications N/A N/A Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 3/31/2016 TABLE C.13 3 Note CAP Adjustment Amount $30,000 ($96) $180,000 ($20) $10,000,000 $190,000 ($3,148) ($6,175) $50,000 12/16/2013 12/23/2013 1/16/2014 3/26/2014 4/16/2014 6/16/2014 6/26/2014 7/29/2014 8/14/2014 $130,000 ($1) 3/14/2013 3/25/2013 $3,463,801 $40,000 $81,081 $50,000 ($66,521) $41,868 $312,942 ($60,789) ($496,519) ($11,842) 11/14/2014 12/29/2014 1/15/2015 3/26/2015 4/16/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 3/23/2011 ($145,056) $45,056 $50,000 9/29/2014 9/30/2010 ($2,146) 9/16/2014 $130,000 Adjustment Date $0 $145,056 $14,102,435 $14,114,277 $14,610,796 $14,671,585 $14,358,643 $14,316,775 $14,383,296 $14,333,296 $14,252,215 $14,212,215 $10,748,414 $10,698,414 $10,700,560 $10,570,560 $10,520,560 $10,526,735 $10,529,883 $10,339,883 $339,883 $339,903 $159,903 $159,999 $129,999 $130,000 Adjusted CAP Termination of SPA Updated portfolio data from servicer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $0 $2,054,406 Borrower’s Incentives $0 $3,407,141 Lenders/ Investors Incentives $0 $660,509 Servicers Incentives TARP Incentive Payments Continued on next page $0 $6,122,056 Total TARP Incentive Payments 314 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Name of Institution Allstate Mortgage Loans & Investments, Inc., Ocala, FL Ally Bank, Midvale, UT Date 9/11/2009 8/14/2014 Transaction Type $250,000 $0 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($1) ($1) ($2) ($1) 6/29/2011 6/28/2012 9/27/2012 3/25/2013 ($8) ($63) ($7,654) ($2,879) ($11,347) ($2,691) ($3,595) ($2,660) ($7,597) ($159) $7,600,000 ($1,152) $1,832,887 $70,000 $110,000 ($3,238) 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 8/14/2014 9/29/2014 12/29/2014 1/15/2015 2/13/2015 3/26/2015 $5,579,534 ($165,135) ($400,000) ($164,461) ($616,326) $10,000 ($13,035) 9/28/2015 10/15/2015 12/28/2015 2/25/2016 3/16/2016 3/28/2016 $4,395,712 $4,408,747 $4,398,747 $5,015,073 $5,179,534 $5,744,669 ($3,800,000) 8/14/2015 $9,544,669 ($29,284) $9,573,953 $9,608,497 $9,611,735 $9,501,735 $9,431,735 $7,598,848 $7,600,000 $105,879 $106,038 $113,635 $116,295 $119,890 $122,581 $133,928 $136,807 $144,461 $144,524 $144,715 $144,811 $144,819 $145,051 $145,052 $145,054 $145,055 $145,056 $100,000 $510,000 $230,000 $310,000 Adjusted CAP 6/25/2015 ($34,544) ($191) 6/26/2014 4/28/2015 ($96) 3/26/2014 ($232) $45,056 9/30/2010 12/23/2013 $280,000 ($410,000) 12/30/2009 7/14/2010 ($80,000) 10/2/2009 3/26/2010 $60,000 Adjustment Date Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $616,967 $18,449 Borrower’s Incentives $1,637,549 $12,610 Lenders/ Investors Incentives $202,183 $8,036 Servicers Incentives TARP Incentive Payments Continued on next page $2,456,699 $39,094 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 315 Purchase Purchase Purchase Purchase Name of Institution Amarillo National Bank, Amarillo, TX Ameriana Bank, New Castle, IN American Eagle Federal Credit Union, East Hartford, CT American Finance House LARIBA, Pasadena, CA Date 9/30/2010 7/16/2014 12/9/2009 9/24/2010 Transaction Type $100,000 $0 $1,590,000 $100,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications N/A N/A N/A N/A 3 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($11,347) ($2,691) ($3,595) ($2,660) ($7,597) ($159) 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 $60,000 ($2,879) 3/26/2010 ($570,000) ($290,000) 1/22/2010 2/2/2011 ($145,056) $45,056 ($870,319) 1/25/2012 9/30/2010 ($1) ($13) 1/6/2011 6/29/2011 ($1) 9/30/2010 3/30/2011 $70,334 7/14/2010 $70,000 7/16/2014 ($7,654) 3/26/2015 3/26/2014 12/29/2014 ($8) 12/23/2013 ($63) ($232) 3/25/2013 9/29/2014 ($1) 9/27/2012 ($96) ($2) 6/28/2012 ($191) ($1) 6/29/2011 7/29/2014 ($1) 9/30/2010 6/26/2014 $45,056 Adjustment Date $0 $145,056 $0 $870,319 $870,332 $870,333 $870,334 $800,000 $1,370,000 $1,660,000 $60,000 $105,879 $106,038 $113,635 $116,295 $119,890 $122,581 $133,928 $136,807 $144,461 $144,524 $144,715 $144,811 $144,819 $145,051 $145,052 $145,054 $145,055 $145,056 Adjusted CAP Termination of SPA Updated portfolio data from servicer Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Reason for Adjustment Adjustment Details $0 $0 $8,000 $0 Borrower’s Incentives $0 $0 $8,750 $0 Lenders/ Investors Incentives $0 $0 $0 $0 Servicers Incentives TARP Incentive Payments Continued on next page $0 $0 $16,750 $0 Total TARP Incentive Payments 316 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Purchase Name of Institution American Financial Resources Inc., Parsippany, NJ Apex Bank (Bank of Camden), Knoxville, TN Aurora Financial Group, Inc., Marlton, NJ Date 9/30/2010 4/16/2015 5/21/2010 Transaction Type $100,000 $0 $10,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications N/A N/A N/A 3 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($1) ($2) ($1) ($232) ($8) ($96) 6/29/2011 6/28/2012 9/27/2012 3/25/2013 12/23/2013 3/26/2014 6/26/2014 ($191) ($1) 9/30/2010 ($2,879) ($11,347) ($2,691) ($3,595) ($2,660) ($7,597) ($159) 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 $20,000 ($7,654) 9/29/2014 $59,889 ($2) ($5) ($1) ($3) ($1) ($759) 9/30/2010 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 12/23/2013 ($27) $250,111 5/26/2010 ($207) ($3,496) ($210,000) ($2,703) ($10,654) ($2,527) ($3,375) ($2,498) ($7,133) ($149) 3/16/2015 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 7/29/2014 9/29/2014 ($625) 6/26/2014 12/29/2014 ($315) 3/26/2014 $30,000 4/16/2015 ($63) 7/29/2014 $45,056 Adjustment Date $105,520 $105,669 $112,802 $115,300 $118,675 $121,202 $131,856 $134,559 $344,559 $348,055 $348,262 $348,887 $349,202 $349,229 $349,988 $349,989 $349,992 $349,993 $349,998 $350,000 $290,111 $40,000 $20,000 $105,879 $106,038 $113,635 $116,295 $119,890 $122,581 $133,928 $136,807 $144,461 $144,524 $144,715 $144,811 $144,819 $145,051 $145,052 $145,054 $145,055 $145,056 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Reason for Adjustment Adjustment Details $24,689 $1,000 $0 Borrower’s Incentives $0 $2,384 $0 Lenders/ Investors Incentives $27,844 $0 $0 Servicers Incentives TARP Incentive Payments Continued on next page $52,533 $3,384 $0 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 317 Purchase Purchase Name of Institution Aurora Loan Services, LLC, Littleton, CO Axiom Bank (Urban Trust Bank), Lake Mary, FL Date 5/1/2009 3/3/2010 Transaction Type $798,000,000 $1,060,000 Financial Instrument for Home Loan Modifications N/A N/A 3 11 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($8,454,269) ($342) ($374) $18,000,000 9/30/2010 1/6/2011 3/30/2011 5/13/2011 ($3,273) $400,000 9/1/2010 ($5,500,000) $40,000 $2,719 9/24/2010 $4,440,000 7/14/2010 12/16/2013 12/29/2014 $42,719 $40,000 $0 $5,500,000 $85,863,519 $109,043,110 $109,043,125 ($23,179,591) $109,113,126 7/9/2013 11/15/2012 $109,343,126 ($15) ($230,000) 9/27/2012 $109,343,125 6/27/2013 $1 8/23/2012 $276,319,974 ($50,000) ($166,976,849) 8/16/2012 $410,549,974 6/14/2013 ($134,230,000) 7/16/2012 $410,639,974 $410,641,742 $109,093,125 ($90,000) 6/28/2012 ($20,000) ($1,768) 4/16/2012 $411,141,742 5/16/2013 ($500,000) 3/15/2012 $411,041,742 $109,113,125 $100,000 10/14/2011 $411,241,742 $411,245,015 $393,245,015 $393,245,389 $393,245,731 $401,700,000 $401,300,000 $478,170,000 $469,020,000 $447,690,000 $459,550,000 Adjusted CAP 3/25/2013 ($200,000) 6/29/2011 $9,150,000 12/30/2009 ($76,870,000) $21,330,000 9/30/2009 7/14/2010 ($11,860,000) 6/17/2009 3/26/2010 ($338,450,000) Adjustment Date Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Termination of SPA Updated portfolio data from servicer Termination of SPA Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Reason for Adjustment Adjustment Details $10,000 $15,997,418 Borrower’s Incentives $12,388 $41,236,850 Lenders/ Investors Incentives $1,000 $28,629,251 Servicers Incentives TARP Incentive Payments Continued on next page $23,388 $85,863,519 Total TARP Incentive Payments 318 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Name of Institution Banco Popular de Puerto Rico, San Juan, PR Bangor Savings Bank, Bangor, ME Date 9/30/2010 9/15/2011 Transaction Type $1,700,000 $0 Financial Instrument for Home Loan Modifications N/A N/A 3 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($4) ($36) ($30) ($83) ($14) ($53) ($20) $460,000 ($7) ($12,339) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/16/2013 9/27/2013 12/23/2013 ($449) ($5,322) ($10,629) ($3,515) ($354,804) ($134,454) ($530,072) ($126,525) ($171,928) ($147,262) ($449,391) ($9,603) 5/15/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 $100,000 $20,000 4/16/2014 9/15/2011 $10,000 3/26/2014 $50,000 ($3) 9/30/2010 1/16/2014 $765,945 Adjustment Date $100,000 $1,049,402 $1,059,005 $1,508,396 $1,655,658 $1,827,586 $1,954,111 $2,484,183 $2,618,637 $2,973,441 $2,976,956 $2,987,585 $2,992,907 $2,972,907 $2,962,907 $2,963,356 $2,913,356 $2,925,695 $2,925,702 $2,465,702 $2,465,722 $2,465,775 $2,465,789 $2,465,872 $2,465,902 $2,465,938 $2,465,942 $2,465,945 Adjusted CAP Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Reason for Adjustment Adjustment Details $0 $218,017 Borrower’s Incentives $0 $137,204 Lenders/ Investors Incentives $0 $49,316 Servicers Incentives TARP Incentive Payments Continued on next page $0 $404,536 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 319 Purchase Purchase Name of Institution Bank of America, N.A., Simi Valley, CA Bank of America, N.A. (BAC Home Loans Servicing, LP), Simi Valley, CA Date 4/17/2009 4/17/2009 Transaction Type $798,900,000 $1,864,000,000 Financial Instrument for Home Loan Modifications N/A N/A 7 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 3/31/2016 $800,390,000 ($829,370,000) ($366,750,000) $95,300,000 12/30/2009 1/26/2010 3/26/2010 7/14/2010 9/30/2010 $222,941,084 $665,510,000 9/30/2009 ($120,700,000) ($900,000) ($200,000) ($17,893) ($1,401,716,594) ($260,902) $3,318,840,000 ($717,420,000) $2,290,780,000 $450,100,000 $905,010,000 $10,280,000 $286,510,000 ($1,787,300,000) $105,500,000 10/14/2011 11/16/2011 5/16/2012 6/28/2012 8/10/2012 10/16/2013 6/12/2009 9/30/2009 12/30/2009 1/26/2010 3/26/2010 4/19/2010 6/16/2010 7/14/2010 9/30/2010 $236,000,000 ($8,012) $1,800,000 $100,000 ($9,190) $200,000 $300,000 ($1,000,000) ($82,347) ($200,000) ($3,400,000) ($1,400,000) $120,600,000 12/15/2010 ($614,527,362) ($300,000) 8/16/2011 9/30/2010 ($2,548) ($23,337) 6/29/2011 1/6/2011 3/30/2011 ($2,199) 9/30/2010 $5,540,000 $162,680,000 6/12/2009 CAP Adjustment Amount Adjustment Date 1/6/2011 2/16/2011 3/16/2011 3/30/2011 4/13/2011 5/13/2011 6/16/2011 6/29/2011 7/14/2011 8/16/2011 9/15/2011 10/14/2011 $6,464,673,089 $6,344,073,089 $6,345,473,089 $6,348,873,089 $6,349,073,089 $6,349,155,436 $6,350,155,436 $6,349,855,436 $6,349,655,436 $6,349,664,626 $6,349,564,626 $6,347,764,626 $6,347,772,638 $6,111,772,638 $6,726,300,000 $6,620,800,000 $8,408,100,000 $8,121,590,000 $8,111,310,000 $7,206,300,000 $6,756,200,000 $4,465,420,000 $5,182,840,000 $31,017,611 $31,278,513 $1,432,995,107 $1,433,013,000 $1,433,213,000 $1,434,113,000 $1,554,813,000 $1,555,113,000 $1,555,136,337 $1,555,138,885 $1,555,141,084 $1,332,200,000 $1,236,900,000 $1,603,650,000 $2,433,020,000 $1,632,630,000 $967,120,000 $804,440,000 Adjusted CAP Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Termination of SPA Termination of SPA Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Reason for Adjustment Adjustment Details $488,387,931 $4,099,062 Borrower’s Incentives $860,538,810 $17,843,110 Lenders/ Investors Incentives $452,612,291 $9,075,439 Servicers Incentives TARP Incentive Payments Continued on next page $1,801,539,032 $31,017,611 Total TARP Incentive Payments 320 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $317,956,289 $800,000 ($17,600,000) ($2,100,000) ($23,900,000) ($63,800,000) $20,000 ($8,860,000) ($58,550) ($6,840,000) $1,401,716,594 ($4,780,000) ($205,946) ($153,220,000) ($27,300,000) ($50,350,000) ($33,515) ($27,000,000) ($41,830,000) ($5,900,000) ($122,604) ($1,410,000) ($940,000) ($16,950,000) ($45,103) ($25,580,000) ($6,730,000) ($290,640,000) ($15,411) ($79,200,000) $260,902 ($14,600,000) ($23,220,000) ($25,226,860) ($27,070,000) ($110,110,000) ($27,640,000) ($868,425) ($17,710,000) ($30,040,000) ($9,660,000) ($10,084,970) ($6,180,000) ($19,885,198) ($11,870,000) ($21,390,000) ($6,533,419) Adjustment Date 10/19/2011 11/16/2011 12/15/2011 2/16/2012 3/15/2012 4/16/2012 5/16/2012 6/14/2012 6/28/2012 7/16/2012 8/10/2012 8/16/2012 9/27/2012 10/16/2012 11/15/2012 12/14/2012 12/27/2012 1/16/2013 2/14/2013 3/14/2013 3/25/2013 4/16/2013 5/16/2013 6/14/2013 6/27/2013 7/16/2013 8/15/2013 9/16/2013 9/27/2013 10/15/2013 10/16/2013 11/14/2013 12/16/2013 12/23/2013 1/16/2014 2/13/2014 3/14/2014 3/26/2014 4/16/2014 5/15/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 9/16/2014 9/29/2014 $6,967,926,873 $6,974,460,292 $6,995,850,292 $7,007,720,292 $7,027,605,490 $7,033,785,490 $7,043,870,460 $7,053,530,460 $7,083,570,460 $7,101,280,460 $7,102,148,885 $7,129,788,885 $7,239,898,885 $7,266,968,885 $7,292,195,745 $7,315,415,745 $7,330,015,745 $7,329,754,843 $7,408,954,843 $7,408,970,254 $7,699,610,254 $7,706,340,254 $7,731,920,254 $7,731,965,357 $7,748,915,357 $7,749,855,357 $7,751,265,357 $7,751,387,961 $7,757,287,961 $7,799,117,961 $7,826,117,961 $7,826,151,476 $7,876,501,476 $7,903,801,476 $8,057,021,476 $8,057,227,423 $8,062,007,423 $6,660,290,828 $6,667,130,828 $6,667,189,378 $6,676,049,378 $6,676,029,378 $6,739,829,378 $6,763,729,378 $6,765,829,378 $6,783,429,378 $6,782,629,378 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to merger/acquisition Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to merger/acquisition Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to merger/acquisition Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 321 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($18,450,000) ($20,390,000) ($9,530,000) ($719,816,794) ($1,240,000) ($35,010,000) ($4,990,000) ($265,121,573) $1,180,000 ($990,712,937) ($6,070,000) ($7,390,000) ($232,108,104) $2,950,000 ($6,830,000) ($8,550,000) ($308,347,786) ($14,980,000) $1,680,000 ($37,410,000) ($220,497,529) $7,480,000 $4,960,000 ($716,991,131) ($6,710,000) ($14,773,723) Adjustment Date 10/16/2014 11/14/2014 12/16/2014 12/29/2014 1/15/2015 2/13/2015 3/16/2015 3/26/2015 4/16/2015 4/28/2015 5/14/2015 6/16/2015 6/25/2015 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 $3,340,257,296 $3,355,031,019 $3,361,741,019 $4,078,732,150 $4,073,772,150 $4,066,292,150 $4,286,789,679 $4,324,199,679 $4,322,519,679 $4,337,499,679 $4,645,847,465 $4,654,397,465 $4,661,227,465 $4,658,277,465 $4,890,385,569 $4,897,775,569 $4,903,845,569 $5,894,558,506 $5,893,378,506 $6,158,500,079 $6,163,490,079 $6,198,500,079 $6,199,740,079 $6,919,556,873 $6,929,086,873 $6,949,476,873 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 322 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Bank United, Miami Lakes, FL Date 10/23/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $93,660,000 N/A Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($40,000) ($14) ($30,000) 9/16/2013 9/27/2013 11/14/2013 ($14,953) ($721) ($660,000) ($6,982) ($13,755) ($440,000) ($3,805) ($250,000) $11,779,329 ($100,000) ($600,000) ($7,703) ($330,000) $189,139 ($10,000) $311,061 $2,219,656 ($30,000) $2,627,838 ($3,503,217) ($74,514) 3/26/2014 6/26/2014 7/29/2014 9/16/2014 9/29/2014 12/16/2014 12/29/2014 1/15/2015 3/16/2015 3/26/2015 4/16/2015 4/28/2015 5/14/2015 6/25/2015 9/28/2015 11/16/2015 12/28/2015 2/25/2016 3/28/2016 2/13/2014 6/16/2014 ($170,000) 12/23/2013 ($1,190,000) ($48) 12/16/2013 ($610,000) ($549) 9/27/2012 6/27/2013 ($277) 6/28/2012 5/16/2013 ($1,400,000) 3/15/2012 ($142) ($773) 6/29/2011 3/25/2013 ($88) 3/30/2011 ($65) ($9,900,000) 3/16/2011 ($2,670,000) ($77) 1/6/2011 2/14/2013 $1,751,033 9/30/2010 12/27/2012 $23,880,000 ($16,610,000) 7/14/2010 1/22/2010 3/26/2010 $4,370,000 Adjustment Date $102,120,373 $102,194,887 $105,698,104 $103,070,266 $103,100,266 $100,880,610 $100,569,549 $100,579,549 $100,390,410 $100,720,410 $100,728,113 $101,328,113 $101,428,113 $89,648,784 $89,898,784 $89,902,589 $90,342,589 $90,356,344 $90,363,326 $91,023,326 $91,024,047 $91,194,047 $91,209,000 $92,399,000 $92,429,000 $92,429,014 $92,469,014 $92,469,062 $93,079,062 $93,079,204 $95,749,204 $95,749,269 $95,749,818 $95,750,095 $97,150,095 $97,150,868 $97,150,956 $107,050,956 $107,051,033 $105,300,000 $121,910,000 $98,030,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $13,163,237 Borrower’s Incentives $38,014,410 Lenders/ Investors Incentives $14,104,119 Servicers Incentives TARP Incentive Payments Continued on next page $65,281,766 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 323 Purchase Purchase Purchase Name of Institution Bay Federal Credit Union, Capitola, CA Bay Gulf Credit Union, Tampa, FL Bayview Loan Servicing, LLC, Coral Gables, FL Date 9/16/2009 12/9/2009 7/1/2009 Transaction Type $410,000 $230,000 $44,260,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications N/A N/A N/A Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($580,212) $10,000 1/25/2012 1/22/2010 ($80,000) $34,540,000 $1,010,000 ($34,250,000) $600,000 ($15,252,303) ($70) ($86) $400,000 $100,000 ($771) 3/26/2010 5/7/2010 7/14/2010 9/30/2010 9/30/2010 1/6/2011 3/30/2011 4/13/2011 5/13/2011 6/29/2011 $600,000 $43,590,000 12/30/2009 ($1,249) $160,000 $6,970,000 $13,590,000 ($298) 9/27/2012 10/16/2012 11/15/2012 12/14/2012 12/27/2012 $1,810,000 6/14/2012 ($508) $30,000 5/16/2012 $2,660,000 $200,000 4/16/2012 6/28/2012 ($100,000) 3/15/2012 7/16/2012 $900,000 $2,400,000 2/16/2012 10/14/2011 1/13/2012 ($18,900,000) 9/15/2011 ($580,222) $23,850,000 9/30/2009 9/30/2010 10/15/2010 ($19,778) 7/14/2010 $440,000 ($8) 6/29/2011 3/26/2010 ($1) ($1) 1/6/2011 ($1,419,778) 9/30/2010 3/30/2011 $160,000 ($120,000) 12/30/2009 7/14/2010 $1,460,000 10/2/2009 3/26/2010 $90,000 Adjustment Date $109,164,715 $109,165,013 $95,575,013 $88,605,013 $88,445,013 $88,446,262 $85,786,262 $85,786,770 $83,976,770 $83,946,770 $83,746,770 $83,846,770 $81,446,770 $80,546,770 $99,446,770 $98,846,770 $98,847,541 $98,747,541 $98,347,541 $98,347,627 $98,347,697 $113,600,000 $113,000,000 $147,250,000 $146,240,000 $111,700,000 $68,110,000 $0 $580,222 $600,000 $680,000 $240,000 $0 $580,212 $580,220 $580,221 $580,222 $2,000,000 $2,120,000 $1,960,000 $500,000 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Termination of SPA Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $59,008,778 $0 $0 Borrower’s Incentives $99,000,569 $0 $0 Lenders/ Investors Incentives $39,198,624 $0 $0 Servicers Incentives TARP Incentive Payments Continued on next page $197,207,971 $0 $0 Total TARP Incentive Payments 324 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 $90,000 $3,250,000 $830,000 ($1,023) $1,490,000 $660,000 $7,470,000 ($308) $21,430,000 $11,730,000 ($91) $5,430,000 $20,900,000 $260,000 ($131,553) $1,070,000 $2,570,000 $1,530,000 ($1,050) $5,270,000 $500,000 $2,600,000 $18,557,651 $10,000 $13,360,843 $4,260,000 $260,000 $13,718,841 ($680,000) $6,070,000 $10,000 $81,111,129 $330,000 $120,000 $39,430,000 $36,955,812 $6,870,000 ($752,669) $5,890,000 $16,940,000 ($180,754) $9,500,000 $430,000 ($3,540,000) $12,163,584 $16,640,000 1/16/2013 2/14/2013 3/14/2013 3/25/2013 4/16/2013 5/16/2013 6/14/2013 6/27/2013 7/16/2013 9/16/2013 9/27/2013 10/15/2013 11/14/2013 12/16/2013 12/23/2013 1/16/2014 2/13/2014 3/14/2014 3/26/2014 4/16/2014 5/15/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 9/16/2014 9/29/2014 10/16/2014 11/14/2014 12/16/2014 12/29/2014 1/15/2015 2/13/2015 3/16/2015 3/26/2015 4/16/2015 4/28/2015 5/14/2015 6/16/2015 6/25/2015 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 CAP Adjustment Amount Adjustment Date $473,585,127 $456,945,127 $444,781,543 $448,321,543 $447,891,543 $438,391,543 $438,572,297 $421,632,297 $415,742,297 $416,494,966 $409,624,966 $372,669,154 $333,239,154 $333,119,154 $332,789,154 $251,678,025 $251,668,025 $245,598,025 $246,278,025 $232,559,184 $232,299,184 $228,039,184 $214,678,341 $214,668,341 $196,110,690 $193,510,690 $193,010,690 $187,740,690 $187,741,740 $186,211,740 $183,641,740 $182,571,740 $182,703,293 $182,443,293 $161,543,293 $156,113,293 $156,113,384 $144,383,384 $122,953,384 $122,953,692 $115,483,692 $114,823,692 $113,333,692 $113,334,715 $112,504,715 $109,254,715 Adjusted CAP Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 325 Purchase Purchase Purchase Purchase Name of Institution BMO Harris Bank, NA, Chicago, IL Bramble Savings Bank, Cincinanati, OH Bridgelock Capital dba Peak Loan Servicing, Woodland Hills, CA Caliber Home Loans, Inc (Vericrest Financial, Inc.), Oklahoma City, OK Date 5/15/2014 8/20/2010 7/16/2013 9/15/2010 Transaction Type $0 $700,000 $0 $0 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications N/A N/A N/A N/A 3 3 3 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 3/31/2016 ($180,000) ($17,340,000) ($950,288) ($530,000) $38,851,352 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 $40,000 9/30/2010 ($3) $10,000 $30,000 $30,000 $40,000 ($21) ($43) ($14) $40,000 ($30,000) 8/10/2011 7/16/2013 12/16/2013 4/16/2014 6/16/2014 6/26/2014 7/29/2014 9/29/2014 10/16/2014 12/16/2014 ($1,290) ($6,381) ($133) $1,000,000 $450,556 ($2) $3,000,000 $10,200,000 2/25/2016 3/28/2016 9/15/2010 9/30/2010 1/6/2011 2/16/2011 3/16/2011 $12,000,000 ($2,234) 12/28/2015 7/14/2011 ($20,000) 11/16/2015 ($24) $10,000 10/15/2015 ($227) ($5,225) 9/28/2015 6/29/2011 $10,000 9/16/2015 3/30/2011 ($1,206) $10,000 8/14/2015 4/28/2015 6/25/2015 ($5,084) 3/26/2015 ($3,430) ($1,740,634) 6/29/2011 12/29/2014 ($28) 3/30/2011 ($2) $1,040,667 4/16/2015 1/6/2011 $20,000 11/14/2014 $30,000 ($435,564) 12/16/2015 5/15/2014 ($3,150,000) $11,150,000 11/16/2015 CAP Adjustment Amount Adjustment Date $26,650,303 $14,650,303 $14,650,530 $14,650,554 $4,450,554 $1,450,554 $1,450,556 $1,000,000 $104,939 $105,072 $111,453 $113,687 $133,687 $123,687 $128,912 $118,912 $108,912 $110,118 $115,202 $116,492 $119,922 $149,922 $109,922 $109,936 $109,979 $110,000 $70,000 $40,000 $10,000 $0 $1,740,634 $1,740,662 $1,740,665 $1,740,667 $90,000 $70,000 $30,000 $501,000,627 $462,149,275 $462,679,275 $463,629,563 $480,969,563 $481,149,563 $481,585,127 $470,435,127 Adjusted CAP Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $1,516,526 $0 $0 $682 Borrower’s Incentives $4,002,687 $0 $0 $0 Lenders/ Investors Incentives $3,198,022 $0 $0 $744 Servicers Incentives TARP Incentive Payments Continued on next page $8,717,234 $0 $0 $1,426 Total TARP Incentive Payments 326 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 ($10,000) $7,260,000 ($5,284,205) $12,370,000 $4,160,000 $10,500,000 ($7,908,989) ($1,130,000) ($50,000) ($22,722,990) $3,010,000 ($507,342) 9/28/2015 10/15/2015 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 7/16/2015 9/16/2015 $1,440,000 6/25/2015 8/14/2015 ($30,000) ($3,633,382) 6/16/2015 $2,670,000 5/14/2015 $2,100,000 1/15/2015 ($14,815,120) ($8,067,210) 12/29/2014 4/28/2015 $4,210,000 12/16/2014 ($20,000) $7,720,000 11/14/2014 4/16/2015 $7,680,000 10/16/2014 ($3,781,724) ($40,882) 9/29/2014 3/26/2015 ($120,725) 7/29/2014 $80,000 $2,590,000 7/16/2014 $8,990,000 ($55,442) 6/26/2014 3/16/2015 ($4,697) 3/26/2014 2/13/2015 $90,000 ($223) 6/27/2013 3/14/2014 ($40,000) 5/16/2013 ($2,500,000) ($591) 2/13/2014 $8,020,000 1/16/2013 3/25/2013 ($1,130,000) ($114) 12/27/2012 1/16/2014 $40,648,340 $720,000 11/15/2012 ($80) ($689) 9/27/2012 ($135,776) ($266) 6/28/2012 9/27/2013 $300,000 4/16/2012 12/23/2013 $40,648,420 $900,000 1/13/2012 $43,569,856 $44,077,198 $41,067,198 $63,790,188 $63,840,188 $64,970,188 $72,879,177 $62,379,177 $58,219,177 $45,849,177 $51,133,382 $43,873,382 $43,883,382 $42,443,382 $46,076,764 $46,106,764 $43,436,764 $58,251,884 $58,271,884 $62,053,608 $53,063,608 $52,983,608 $50,883,608 $58,950,818 $54,740,818 $47,020,818 $39,340,818 $39,381,700 $39,502,425 $36,912,425 $36,967,867 $36,972,564 $36,882,564 $39,382,564 $40,512,564 $40,648,643 $40,688,643 $40,689,234 $32,669,234 $32,669,348 $31,949,348 $31,950,037 $31,950,303 $31,650,303 $30,750,303 $4,100,000 12/15/2011 Adjusted CAP CAP Adjustment Amount Adjustment Date Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 327 Purchase Purchase Purchase Name of Institution California Housing Finance Agency, Sacramento, CA Capital International Financial, Inc., Coral Gables, FL Carrington Mortgage Services, LLC, Santa Ana, CA Date 3/14/2014 9/30/2010 4/27/2009 Transaction Type $0 $100,000 $195,000,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications N/A N/A N/A 3 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $10,000 ($258) ($512) ($169) 3/26/2014 6/16/2014 6/26/2014 7/29/2014 9/29/2014 $110,000 ($15,247) ($20,367) ($15,073) ($43,047) ($899) $45,056 ($1) ($1) ($2) ($1) ($232) ($8) ($96) 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 9/30/2010 6/29/2011 6/28/2012 9/27/2012 3/25/2013 12/23/2013 3/26/2014 6/26/2014 ($191) ($64,289) 3/26/2015 ($2,879) ($11,347) ($2,691) ($3,595) ($2,660) ($7,597) ($159) ($63,980,000) $90,990,000 $57,980,000 $74,520,000 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 6/17/2009 9/30/2009 12/30/2009 3/26/2010 $283,763,685 $3,763,685 $300,000 ($325) $2,400,000 ($384) 9/30/2010 12/15/2010 1/6/2011 1/13/2011 3/30/2011 $286,462,976 $286,463,360 $284,063,360 $284,063,685 $280,000,000 $1,100,000 8/13/2010 $278,900,000 $354,510,000 $279,990,000 $222,010,000 $131,020,000 $105,879 $106,038 $113,635 $116,295 $119,890 $122,581 $133,928 $136,807 $144,461 ($75,610,000) ($7,654) 9/29/2014 $144,524 $144,715 $144,811 $144,819 $145,051 $145,052 $145,054 $145,055 $145,056 $133,314 $134,213 $177,260 $192,333 $212,700 $227,947 $292,236 $308,547 $198,547 $219,041 $219,210 $219,722 $219,980 $209,980 $210,000 Adjusted CAP 7/14/2010 ($63) 7/29/2014 ($16,311) 1/15/2015 ($20,494) ($20) 3/14/2014 12/29/2014 $210,000 Adjustment Date Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated portfolio data from servicer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $25,452,244 $0 $2,000 Borrower’s Incentives $44,940,818 $0 $3,097 Lenders/ Investors Incentives $29,040,677 $0 $2,800 Servicers Incentives TARP Incentive Payments Continued on next page $99,433,739 $0 $7,897 Total TARP Incentive Payments 328 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 ($3,592) $1,800,000 $100,000 $1,000,000 $1,100,000 $100,000 $850,000 $2,240,000 ($2,520) $1,690,000 ($30,000) ($6,632) $2,880,000 $1,500,000 $2,040,000 ($1,103) ($10,000) $4,960,000 ($30,000) ($4,179) ($70,000) $1,570,000 ($1,880,000) ($1,522) $270,000 $5,370,000 ($525) ($240,000) $2,000,000 $1,370,000 ($873,891) $120,000 $280,000 $50,000 ($30,084) $2,660,000 ($430,000) ($130,000) ($351,513) ($23,460,000) ($621,598) ($560,000) $8,810,000 ($205,371) ($19,600,000) $10,000 6/29/2011 8/16/2011 9/15/2011 11/16/2011 2/16/2012 4/16/2012 5/16/2012 6/14/2012 6/28/2012 7/16/2012 8/16/2012 9/27/2012 10/16/2012 11/15/2012 12/14/2012 12/27/2012 1/16/2013 2/14/2013 3/14/2013 3/25/2013 4/16/2013 5/16/2013 6/14/2013 6/27/2013 7/16/2013 9/16/2013 9/27/2013 10/15/2013 11/14/2013 12/16/2013 12/23/2013 1/16/2014 2/13/2014 3/14/2014 3/26/2014 4/16/2014 5/15/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 9/16/2014 9/29/2014 10/16/2014 11/14/2014 CAP Adjustment Amount Adjustment Date $280,690,446 $280,680,446 $300,280,446 $300,485,817 $291,675,817 $292,235,817 $292,857,415 $316,317,415 $316,668,928 $316,798,928 $317,228,928 $314,568,928 $314,599,012 $314,549,012 $314,269,012 $314,149,012 $315,022,903 $313,652,903 $311,652,903 $311,892,903 $311,893,428 $306,523,428 $306,253,428 $306,254,950 $308,134,950 $306,564,950 $306,634,950 $306,639,129 $306,669,129 $301,709,129 $301,719,129 $301,720,232 $299,680,232 $298,180,232 $295,300,232 $295,306,864 $295,336,864 $293,646,864 $293,649,384 $291,409,384 $290,559,384 $290,459,384 $289,359,384 $288,359,384 $288,259,384 $286,459,384 Adjusted CAP Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 329 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 $50,000 ($14,927,467) $32,230,000 ($20,000) ($8,127,120) $40,000 ($31,805,366) ($30,000) $9,790,000 ($8,177,266) ($270,000) ($150,000) ($680,000) ($10,203,040) ($730,000) ($540,000) ($50,000) ($6,579,685) ($420,000) $30,000 ($24,021,774) $4,710,000 ($580,686) 12/16/2014 12/29/2014 1/15/2015 3/16/2015 3/26/2015 4/16/2015 4/28/2015 5/14/2015 6/16/2015 6/25/2015 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 CAP Adjustment Amount Adjustment Date $220,228,042 $220,808,728 $216,098,728 $240,120,502 $240,090,502 $240,510,502 $247,090,187 $247,140,187 $247,680,187 $248,410,187 $258,613,227 $259,293,227 $259,443,227 $259,713,227 $267,890,493 $258,100,493 $258,130,493 $289,935,859 $289,895,859 $298,022,979 $298,042,979 $265,812,979 $280,740,446 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 330 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Name of Institution CCO Mortgage, a division of RBS Citizens NA, Glen Allen, VA Cenlar FSB, Ewing, NJ Date 6/17/2009 11/16/2015 Transaction Type $16,520,000 $0 Financial Instrument for Home Loan Modifications N/A N/A Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 3/31/2016 ($452) ($309) 6/29/2011 6/28/2012 ($62) ($175) ($307,107) $3,297,369 3/26/2015 4/28/2015 ($24,922) 2/25/2016 3/28/2016 $10,000 ($1,667,058) 12/28/2015 11/16/2015 ($20,000) $1,311,814 10/15/2015 ($31,427) ($960,875) 12/29/2014 $2,309,433 ($21,381) 9/29/2014 9/28/2015 ($69,315) 7/29/2014 6/25/2015 ($3,201) ($35,874) 6/26/2014 12/23/2013 3/26/2014 ($97,446) 9/27/2013 6/27/2013 ($475) ($55) 3/25/2013 ($46) 1/6/2011 3/30/2011 ($807) $7,846,346 9/30/2010 ($131) ($23,350,000) 7/14/2010 9/27/2012 $42,646,300 ($116,950,000) 3/26/2010 12/27/2012 $42,646,346 $145,510,000 12/30/2009 $10,000 $46,323,844 $46,348,766 $48,015,824 $46,704,010 $46,724,010 $44,414,577 $44,446,004 $41,148,635 $41,455,742 $42,416,617 $42,437,998 $42,507,313 $42,543,187 $42,546,388 $42,643,834 $42,643,896 $42,644,071 $42,644,546 $42,644,677 $42,645,484 $42,645,793 $42,646,245 $34,800,000 $58,150,000 $175,100,000 $29,590,000 $13,070,000 9/30/2009 Adjusted CAP CAP Adjustment Amount Adjustment Date Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $0 $7,246,003 Borrower’s Incentives $0 $9,189,253 Lenders/ Investors Incentives $0 $5,884,803 Servicers Incentives TARP Incentive Payments Continued on next page $0 $22,320,060 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 331 Name of Institution Central Florida Educators Federal Credit Union, Lake Mary, FL Date 9/9/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $1,250,000 N/A Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $120,000 ($300,000) $270,334 ($1) ($1) ($5) $21,717 $190,077 $35,966 $59,464 $35,438 $26,926 $87,045 $31,204 $68,259 ($2) ($21) $441,316 ($540) $33,587 $30,826 ($1,954) $3,864 ($62,589) ($1,311) 9/30/2010 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 12/23/2013 3/26/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 12/30/2009 7/14/2010 ($750,000) 10/2/2009 3/26/2010 $280,000 Adjustment Date $1,869,599 $1,870,910 $1,933,499 $1,929,635 $1,931,589 $1,900,763 $1,867,176 $1,867,716 $1,426,400 $1,426,421 $1,426,423 $1,358,164 $1,326,960 $1,239,915 $1,212,989 $1,177,551 $1,118,087 $1,082,121 $892,044 $870,327 $870,332 $870,333 $870,334 $600,000 $900,000 $780,000 $1,530,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $255,571 Borrower’s Incentives $345,617 Lenders/ Investors Incentives $330,527 Servicers Incentives TARP Incentive Payments Continued on next page $931,715 Total TARP Incentive Payments 332 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Purchase Purchase Purchase Name of Institution Central Jersey Federal Credit Union, Woodbridge, NJ Central Pacific Bank, Honolulu, HI Centrue Bank, Ottawa, IL Chase Home Finance, LLC, Iselin, NJ Cheviot Savings Bank, Cincinnati, OH Date 9/23/2009 3/16/2016 9/24/2010 4/13/2009 6/14/2013 Transaction Type $30,000 $0 $1,900,000 $3,552,000,000 $0 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A N/A N/A 3 1 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($4) $856,056 $20,000 $1,344 $10,000 $6,250 6/27/2013 6/14/2013 ($3,552,000,000) 3/9/2011 7/31/2009 ($2,756,052) 1/6/2011 9/30/2010 3/16/2016 $145,056 $45,056 ($145,056) 9/30/2010 10/29/2010 12/29/2014 $17,594 $11,344 $10,000 $0 $0 $2,756,052 $2,756,056 $20,000 $0 $100,000 ($70,000) 7/14/2010 $170,000 $10,000 $160,000 $40,000 Adjusted CAP 3/26/2010 $120,000 10/2/2009 12/30/2009 $10,000 Adjustment Date Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Termination of SPA Termination of SPA Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Transfer of cap due to servicing transfer Termination of SPA Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $3,000 $0 $0 $0 $0 Borrower’s Incentives $2,639 $0 $0 $0 $0 Lenders/ Investors Incentives $2,000 $0 $0 $0 $0 Servicers Incentives TARP Incentive Payments Continued on next page $7,639 $0 $0 $0 $0 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 333 Name of Institution CIT Bank, N.A. (OneWest Bank, N.A.), Pasadena, CA Date 8/28/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $668,440,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($51,741,163) ($2,282) ($2,674) ($24,616) ($15,481) ($40,606) ($6,688) ($24,811) ($9,058) ($3,154) ($500,000) ($4,440,000) ($277,680,000) ($5,188,787) ($25,750,000) 9/30/2010 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 10/15/2013 11/14/2013 12/16/2013 12/23/2013 1/16/2014 ($10,000) $5,500,000 9/30/2010 ($6,240,000) ($181,765) ($30,000) ($2,139,762) ($17,620,000) ($4,233,602) $650,000 ($1,394,443) $100,000 $180,000 ($164,135,059) $20,000 ($61,475,721) $10,000 ($241,812,784) ($10,000) ($140,000) ($57,027,798) ($220,000) ($75,969,820) ($55,846,129) ($176,741,972) ($3,622,613) 2/13/2014 $121,180,000 ($408,850,000) 12/30/2009 7/14/2010 $1,355,930,000 10/2/2009 3/26/2010 $145,800,000 Adjustment Date 3/14/2014 3/26/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 9/16/2014 9/29/2014 11/14/2014 12/16/2014 12/29/2014 1/15/2015 3/26/2015 4/16/2015 4/28/2015 5/14/2015 6/16/2015 6/25/2015 7/16/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 $654,679,212 $658,301,825 $835,043,797 $890,889,926 $966,859,746 $967,079,746 $1,024,107,544 $1,024,247,544 $1,024,257,544 $1,266,070,328 $1,266,060,328 $1,327,536,049 $1,327,516,049 $1,491,651,108 $1,491,471,108 $1,491,371,108 $1,492,765,551 $1,492,115,551 $1,496,349,153 $1,513,969,153 $1,516,108,915 $1,516,138,915 $1,516,320,680 $1,522,560,680 $1,522,570,680 $1,548,320,680 $1,553,509,467 $1,831,189,467 $1,835,629,467 $1,836,129,467 $1,836,132,621 $1,836,141,679 $1,836,166,490 $1,836,173,178 $1,836,213,784 $1,836,229,265 $1,836,253,881 $1,836,256,555 $1,836,258,837 $1,888,000,000 $1,882,500,000 $2,291,350,000 $2,170,170,000 $814,240,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $71,559,140 Borrower’s Incentives $237,805,503 Lenders/ Investors Incentives $90,747,524 Servicers Incentives TARP Incentive Payments Continued on next page $400,112,167 Total TARP Incentive Payments 334 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution CitiMortgage, Inc., O’Fallon, MO Date 4/13/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $2,071,000,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($7,110,000) ($6,300,000) ($8,300,000) $32,400,000 $101,287,484 ($1,400,000) ($3,200,000) ($981) ($10,500,000) ($4,600,000) ($30,500,000) ($1,031) 7/16/2010 8/13/2010 9/15/2010 9/30/2010 9/30/2010 10/15/2010 11/16/2010 1/6/2011 1/13/2011 2/16/2011 3/16/2011 3/30/2011 $100,000 $1,123,677,484 ($757,680,000) 7/14/2010 ($7,200,000) ($400,000) ($9,131) ($14,500,000) ($1,600,000) $700,000 $15,200,000 ($2,900,000) ($5,000,000) ($900,000) ($1,100,000) ($1,700,000) ($600,000) ($340,000) ($2,880,000) ($5,498) ($298,960,000) $263,550,000 $30,000 ($12,722) ($4,020,000) ($1,460,000) ($6,000,000) 4/13/2011 $1,022,390,000 ($12,280,000) 5/13/2011 6/16/2011 6/29/2011 7/14/2011 8/16/2011 9/15/2011 10/14/2011 11/16/2011 12/15/2011 1/13/2012 2/16/2012 3/15/2012 4/16/2012 5/16/2012 6/14/2012 6/28/2012 7/16/2012 7/27/2012 8/16/2012 9/27/2012 10/16/2012 11/15/2012 12/14/2012 $1,003,468,121 $1,009,468,121 $1,010,928,121 $1,014,948,121 $1,014,960,843 $1,014,930,843 $751,380,843 $1,050,340,843 $1,050,346,341 $1,053,226,341 $1,053,566,341 $1,054,166,341 $1,055,866,341 $1,056,966,341 $1,057,866,341 $1,062,866,341 $1,065,766,341 $1,050,566,341 $1,049,866,341 $1,051,466,341 $1,065,966,341 $1,065,975,472 $1,066,375,472 $1,073,575,472 $1,073,475,472 $1,073,476,503 $1,103,976,503 $1,108,576,503 $1,119,076,503 $1,119,077,484 $1,122,277,484 $989,990,000 $998,290,000 $1,004,590,000 $1,011,700,000 $1,769,380,000 $1,781,660,000 $1,784,660,000 $1,784,890,000 6/16/2010 3/26/2010 $1,984,190,000 ($230,000) ($199,300,000) 12/30/2009 $2,089,600,000 ($3,000,000) ($105,410,000) 9/30/2009 $1,079,420,000 5/14/2010 $1,010,180,000 6/12/2009 Adjusted CAP 4/19/2010 ($991,580,000) Adjustment Date Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Reason for Adjustment Adjustment Details $140,157,954 Borrower’s Incentives $348,454,757 Lenders/ Investors Incentives $139,658,237 Servicers Incentives TARP Incentive Payments Continued on next page $628,270,948 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 335 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 ($1,916) ($8,450,000) ($1,890,000) ($6,606) ($3,490,000) ($3,630,000) ($2,161) ($26,880,000) ($12,160,000) ($610) ($38,950,000) ($8,600,000) ($769,699) ($5,360,000) ($7,680,000) ($2,950,000) ($21,827) ($60,000) ($30,000) ($330,000) ($195,762) ($430,000) ($377,564) ($1,080,000) ($92,495) ($1,510,000) $30,000 ($2,910,000) $94,089,225 ($34,650,000) ($2,440,000) ($19,110,000) $76,351,360 ($6,750,000) $57,599,924 ($27,080,000) ($79,070,000) $86,251,406 ($30,000) ($18,320,000) ($290,000) $24,031,176 ($10,000) ($2,430,000) ($13,640,000) 12/27/2012 2/14/2013 3/14/2013 3/25/2013 4/16/2013 6/14/2013 6/27/2013 7/16/2013 9/16/2013 9/27/2013 11/14/2013 12/16/2013 12/23/2013 1/16/2014 2/13/2014 3/14/2014 3/26/2014 4/16/2014 5/15/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 9/29/2014 10/16/2014 11/14/2014 12/16/2014 12/29/2014 1/15/2015 2/13/2015 3/16/2015 3/26/2015 4/16/2015 4/28/2015 5/14/2015 6/16/2015 6/25/2015 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 11/16/2015 12/16/2015 CAP Adjustment Amount Adjustment Date $1,010,142,572 $1,023,782,572 $1,026,212,572 $1,026,222,572 $1,002,191,396 $1,002,481,396 $1,020,801,396 $1,020,831,396 $934,579,990 $1,013,649,990 $1,040,729,990 $983,130,066 $989,880,066 $913,528,706 $932,638,706 $935,078,706 $969,728,706 $875,639,481 $878,549,481 $878,519,481 $880,029,481 $880,121,976 $881,201,976 $881,579,540 $882,009,540 $882,205,302 $882,535,302 $882,565,302 $882,625,302 $882,647,129 $885,597,129 $893,277,129 $898,637,129 $899,406,828 $908,006,828 $946,956,828 $946,957,438 $959,117,438 $985,997,438 $985,999,599 $989,629,599 $993,119,599 $993,126,205 $995,016,205 $1,003,466,205 Adjusted CAP Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 336 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Citizens Community Bank, Freeburg, IL 9/24/2010 Purchase Purchase Citizens First Wholesale Mortgage Company, The Villages, FL ClearSpring Loan Services, Inc. (Vantium Capital, Inc. d/b/a Acqura Loan Services), Plano, TX 9/2/2009 Purchase Purchase Transaction Type 6/26/2009 Citizens First 12/16/2009 National Bank, Spring Valley, IL Name of Institution Date $30,000 Financial Instrument for Home Loan Modifications $6,000,000 $620,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications $800,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A N/A 4 6 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($250,000) ($34,557,541) ($6,120,000) ($588,465) 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 ($2) ($2) ($3) ($24) 1/6/2011 3/30/2011 6/29/2011 ($16) $95,612 9/30/2010 ($30) ($11) ($4) ($6,733) ($237) ($90,000) ($2,840) ($1,353,853) ($10,000) 12/27/2012 3/25/2013 6/27/2013 9/27/2013 12/23/2013 3/26/2014 5/15/2014 6/26/2014 7/1/2014 9/30/2009 ($580,000) ($3,390,000) $410,000 12/30/2009 3/26/2010 $4,700,000 $800,000 $2,700,000 ($17) $700,000 12/15/2010 1/6/2011 1/13/2011 9/30/2010 11/16/2010 $117,764 9/15/2010 ($730,000) $1,310,000 10/2/2009 7/14/2010 $45,056 ($145,056) 2/17/2011 7/14/2010 9/30/2010 $70,000 3/26/2010 $590,000 ($8) 9/27/2012 12/30/2009 ($45) 6/28/2012 ($580,000) $1,430,000 1/22/2010 7/14/2010 $30,000 3/23/2011 3/26/2010 ($1,160,443) 1/6/2011 $360,445 ($440,000) 12/28/2015 9/30/2010 $20,325,747 Adjustment Date $12,617,747 $11,917,747 $11,917,764 $9,217,764 $8,417,764 $8,300,000 $3,600,000 $4,330,000 $3,920,000 $7,310,000 $0 $145,056 $100,000 $30,000 $610,000 $20,000 $141,806 $1,495,659 $1,498,499 $1,588,499 $1,588,736 $1,595,469 $1,595,473 $1,595,484 $1,595,514 $1,595,522 $1,595,567 $1,595,583 $1,595,607 $1,595,610 $1,595,612 $1,500,000 $70,000 $650,000 $0 $1,160,443 $1,160,445 $988,512,313 $989,100,778 $995,220,778 $1,029,778,319 $1,030,028,319 $1,030,468,319 Adjusted CAP Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Termination of SPA Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Termination of SPA Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Termination of SPA Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reason for Adjustment Adjustment Details $246,671 $0 $27,230 $0 Borrower’s Incentives $543,719 $0 $67,847 $0 Lenders/ Investors Incentives $398,564 $0 $46,730 $0 Servicers Incentives TARP Incentive Payments Continued on next page $1,188,955 $0 $141,806 $0 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 337 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $1,800,000 ($19) $300,000 ($189) $300,000 $100,000 $100,000 ($147) ($10,000) ($413) ($40,000) ($71) ($770,000) ($20,000) ($256) ($620,000) $40,000 $10,000 ($95) ($290,000) ($34) $40,000 ($57,271) ($90,000) ($40,000) ($1,989) $80,000 ($230,000) $100,000 ($23,438) $1,210,000 ($51,728) ($17,168) $500,000 ($10,000) ($2,097,962) ($789,030) ($3,110,011) ($735,363) ($230,000) ($970,000) ($370,000) ($898,229) $590,000 $10,000 ($774,973) Adjustment Date 2/16/2011 3/30/2011 4/13/2011 6/29/2011 8/16/2011 9/15/2011 10/14/2011 6/28/2012 7/16/2012 9/27/2012 11/15/2012 12/27/2012 2/14/2013 3/14/2013 3/25/2013 4/16/2013 5/16/2013 6/14/2013 6/27/2013 7/16/2013 9/27/2013 12/16/2013 12/23/2013 2/13/2014 3/14/2014 3/26/2014 4/16/2014 5/15/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 9/29/2014 10/16/2014 11/14/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 12/16/2015 12/28/2015 $5,549,361 $6,324,334 $6,314,334 $5,724,334 $6,622,563 $6,992,563 $7,962,563 $8,192,563 $8,927,926 $12,037,937 $12,826,967 $14,924,929 $14,934,929 $14,434,929 $14,452,097 $14,503,825 $13,293,825 $13,317,263 $13,217,263 $13,447,263 $13,367,263 $13,369,252 $13,409,252 $13,499,252 $13,556,523 $13,516,523 $13,516,557 $13,806,557 $13,806,652 $13,796,652 $13,756,652 $14,376,652 $14,376,908 $14,396,908 $15,166,908 $15,166,979 $15,206,979 $15,207,392 $15,217,392 $15,217,539 $15,117,539 $15,017,539 $14,717,539 $14,717,728 $14,417,728 $14,417,747 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 338 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Purchase Purchase Name of Institution Colorado Federal Savings Bank, Greenwood Village, CO Columbia Bank, Fair Lawn, NJ Community Bank & Trust Company, Clarks Summit, PA Community Credit Union of Florida, Rockledge, FL Date 3/16/2015 5/15/2014 12/4/2009 9/30/2010 Transaction Type $0 $0 $380,000 $2,000,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A N/A 6 3 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 ($72) ($143) 5/15/2014 6/26/2014 7/29/2014 ($1) 6/29/2011 6/28/2012 $145,054 $145,055 $145,056 $145,052 ($1) 9/30/2010 $100,000 $910,000 $390,000 $181,922 $182,162 $193,506 $195,347 $159,738 $159,785 $159,928 $160,000 $184,802 $187,091 $177,091 $274,085 $284,085 $320,000 $80,000 $70,000 $3,404,613 $3,456,666 $3,266,666 $5,529,361 Adjusted CAP ($144,524) $901,112 ($4) 8/26/2014 9/30/2010 1/6/2011 ($5) ($191) 7/29/2014 ($48) ($36) ($2,888,387) 3/30/2011 ($8) ($96) 3/26/2014 6/26/2014 ($1) ($232) 3/25/2013 12/23/2013 6/29/2011 6/28/2012 9/14/2012 $12,632 $2,901,019 $2,901,055 $2,901,103 $2,901,108 $2,901,112 $0 $144,524 $144,715 $144,811 $144,819 $145,051 ($2) $45,056 7/14/2010 9/27/2012 $520,000 ($810,000) 3/26/2010 $10,000 $160,000 3/28/2016 1/22/2010 ($2,289) 3/16/2016 ($240) $10,000 2/25/2016 ($11,344) ($96,994) 2/16/2016 2/25/2016 ($10,000) 12/28/2015 3/28/2016 ($35,915) 11/16/2015 ($1,841) $240,000 10/15/2015 12/28/2015 $10,000 3/16/2015 ($47) $70,000 3/28/2016 $35,609 ($52,053) 3/16/2016 9/29/2014 $190,000 2/25/2016 12/29/2014 ($20,000) ($2,262,695) 1/14/2016 CAP Adjustment Amount Adjustment Date Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $3,000 $0 $19,917 $2,833 Borrower’s Incentives $4,632 $0 $36,585 $21,745 Lenders/ Investors Incentives $5,000 $0 $9,000 $0 Servicers Incentives TARP Incentive Payments Continued on next page $12,632 $0 $65,502 $24,579 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 339 CU Mortgage Services, Inc., New Brighton, MN 9/30/2010 Purchase Purchase Digital Federal Credit Union, Marlborough, MA Ditech Financial LLC (Green Tree Servicing LLC), Saint Paul, MN 4/24/2009 Purchase Purchase Transaction Type 1/15/2010 Desjardins Bank 12/16/2013 N.A., Hallandale Beach, FL Name of Institution Date $100,000 $0 $3,050,000 $156,000,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($1) ($2) ($1) ($232) ($8) ($96) 6/29/2011 6/28/2012 9/27/2012 3/25/2013 12/23/2013 3/26/2014 6/26/2014 ($191) ($1) 9/30/2010 ($2,879) ($11,347) ($2,691) ($3,595) ($2,660) ($7,597) ($159) 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 ($15,240,000) $12,190,000 $10,000 $2,200,000 $34,600,000 8/13/2010 9/10/2010 $5,600,000 $210,000 7/16/2010 $10,185,090 $400,000 ($213) ($250) $1,200,000 $100,000 ($2,302) $1,900,000 $200,000 $200,000 9/30/2010 $13,080,000 12/30/2009 ($24,220,000) ($116,750,000) 9/30/2009 7/14/2010 $130,780,000 6/17/2009 3/26/2010 ($64,990,000) 5/14/2010 3/26/2010 9/16/2014 $30,000 ($7,654) 9/29/2014 12/16/2013 ($63) 7/29/2014 $45,056 Adjustment Date 9/30/2010 10/15/2010 1/6/2011 3/30/2011 5/13/2011 6/16/2011 6/29/2011 7/14/2011 9/15/2011 10/14/2011 $150,692,325 $150,492,325 $150,292,325 $148,392,325 $148,394,627 $148,294,627 $147,094,627 $147,094,877 $147,095,090 $146,695,090 $136,510,000 $130,910,000 $96,310,000 $94,110,000 $93,900,000 $118,120,000 $105,040,000 $221,790,000 $91,010,000 $0 $15,240,000 $40,000 $30,000 $105,879 $106,038 $113,635 $116,295 $119,890 $122,581 $133,928 $136,807 $144,461 $144,524 $144,715 $144,811 $144,819 $145,051 $145,052 $145,054 $145,055 $145,056 Adjusted CAP Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Termination of SPA Updated portfolio data from servicer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Reason for Adjustment Adjustment Details $91,581,428 $0 $3,000 $0 Borrower’s Incentives $60,186,486 $0 $11,342 $0 Lenders/ Investors Incentives $21,706,156 $0 $1,000 $0 Servicers Incentives TARP Incentive Payments Continued on next page $173,474,070 $0 $15,342 $0 Total TARP Incentive Payments 340 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 $400,000 $900,000 $100,000 $3,260,000 $920,000 ($1,622) $110,000 $5,120,000 ($4,509) $8,810,000 $2,910,000 ($802) $10,210,000 ($3,023) $140,000 ($1,077) $7,210,000 $6,730,000 ($388) $3,610,000 ($320,000) $21,280,000 ($710,351) $1,700,000 ($22,400) $2,280,000 $12,810,000 ($2,000,000) ($262,535) $130,000 ($499,786) ($1,940,000) $380,000 ($150,666) ($1,120,000) $760,000 $5,910,000 ($10,171,749) ($770,000) $6,000,000 ($1,400,000) ($2,999,340) ($1,440,000) $406,883,574 $3,840,000 $1,933,295 11/16/2011 2/16/2012 3/15/2012 5/16/2012 6/14/2012 6/28/2012 7/16/2012 8/16/2012 9/27/2012 10/16/2012 11/15/2012 12/27/2012 2/14/2013 3/25/2013 5/16/2013 6/27/2013 7/16/2013 8/15/2013 9/27/2013 10/15/2013 11/14/2013 12/16/2013 12/23/2013 2/13/2014 3/26/2014 4/16/2014 5/15/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 9/16/2014 9/29/2014 10/16/2014 11/14/2014 12/16/2014 12/29/2014 1/15/2015 2/13/2015 3/16/2015 3/26/2015 4/16/2015 4/28/2015 5/14/2015 6/25/2015 CAP Adjustment Amount Adjustment Date $641,210,946 $639,277,651 $635,437,651 $228,554,077 $229,994,077 $232,993,417 $234,393,417 $228,393,417 $229,163,417 $239,335,166 $233,425,166 $232,665,166 $233,785,166 $233,935,832 $233,555,832 $235,495,832 $235,995,618 $235,865,618 $236,128,153 $238,128,153 $225,318,153 $223,038,153 $223,060,553 $221,360,553 $222,070,904 $200,790,904 $201,110,904 $197,500,904 $197,501,292 $190,771,292 $183,561,292 $183,562,369 $183,422,369 $183,425,392 $173,215,392 $173,216,194 $170,306,194 $161,496,194 $161,500,703 $156,380,703 $156,270,703 $156,272,325 $155,352,325 $152,092,325 $151,992,325 $151,092,325 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 341 Eastern Bank, Boston, MA 3/16/2016 Purchase Purchase DuPage Credit Union, Naperville, FL 10/30/2009 Eaton National Bank 12/23/2009 & Trust Company, Eaton, OH Purchase Name of Institution Date Transaction Type $70,000 $0 $60,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($730,000) $1,314,631 ($30,000) ($1,800,000) ($491,522) ($10,000) ($2,820,000) ($57,817,969) $1,530,000 ($1,385,279) $10,000 $10,000 $10,000 $45,056 ($1) ($1) ($1) ($145) ($5) 8/14/2015 9/16/2015 9/28/2015 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 1/22/2010 3/26/2010 7/14/2010 9/30/2010 6/29/2011 9/27/2012 3/25/2013 12/23/2013 3/26/2014 ($59) $160,000 7/16/2015 ($1,672) ($11,493) ($240) 12/28/2015 2/25/2016 3/28/2016 $20,000 ($2,259) 9/28/2015 $50,000 3/26/2010 ($54,944) ($145,056) 7/14/2010 $90,000 3/16/2016 ($142) $73,328 3/26/2015 4/28/2015 ($39) ($377) 9/29/2014 7/29/2014 12/29/2014 ($117) 6/26/2014 $6,480,000 Adjustment Date 9/30/2010 5/20/2011 $0 $145,056 $200,000 $150,000 $20,000 $201,833 $202,073 $213,566 $215,238 $217,497 $144,169 $144,311 $144,688 $144,727 $144,844 $144,903 $144,908 $145,053 $145,054 $145,055 $145,056 $100,000 $90,000 $80,000 $585,610,807 $586,996,086 $585,466,086 $643,284,055 $646,104,055 $646,114,055 $646,605,577 $648,405,577 $648,435,577 $647,120,946 $647,850,946 $647,690,946 Adjusted CAP Termination of SPA Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $0 $0 $44,571 Borrower’s Incentives $0 $0 $42,442 Lenders/ Investors Incentives $0 $0 $19,442 Servicers Incentives TARP Incentive Payments Continued on next page $0 $0 $106,455 Total TARP Incentive Payments 342 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Purchase Purchase Name of Institution EMC Mortgage Corporation, Lewisville, TX Everbank, Jacksonville, FL Farmers State Bank, West Salem, OH Fay Servicing, LLC, Chicago, IL Date 7/31/2009 7/16/2013 7/17/2009 9/3/2010 Transaction Type $707,380,000 $0 $170,000 $3,100,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications N/A N/A N/A N/A 3 8 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($134,560,000) ($392,140,000) ($630,000) $13,100,000 12/30/2009 3/26/2010 7/14/2010 7/16/2010 9/30/2010 ($122,900,000) ($8,728) ($600,000) ($519,211,309) $60,000 $30,000 $80,000 5/13/2011 6/29/2011 7/14/2011 10/19/2011 7/16/2013 9/16/2014 8/14/2015 ($8,692) ($925) 3/30/2011 ($597) ($90,000) 2/25/2016 3/28/2016 9/30/2009 $100,000 ($12) ($15) $400,000 1/6/2011 3/30/2011 4/13/2011 $700,000 $200,000 $1,700,000 $1,600,000 $40,000 12/15/2011 4/16/2012 5/16/2012 10/14/2011 11/16/2011 $100,000 9/15/2011 ($143) $5,168,169 9/30/2010 6/29/2011 $45,056 ($145,056) 5/20/2011 7/14/2010 9/30/2010 ($130,000) 3/26/2010 $50,000 ($28,583) 12/28/2015 12/30/2009 ($10,008) 9/28/2015 ($4,000,000) 3/16/2011 $13,007,999 $12,967,999 $11,367,999 $9,667,999 $9,467,999 $9,367,999 $8,667,999 $8,668,142 $8,268,142 $8,268,157 $8,268,169 $0 $145,056 $100,000 $230,000 $130,000 $80,000 $122,120 $122,717 $151,300 $161,308 $170,000 $90,000 $60,000 $35,441,779 $554,653,088 $555,253,088 $555,261,816 $678,161,816 $678,162,741 $682,162,741 $683,062,741 ($802) ($900,000) 1/6/2011 2/16/2011 $683,063,543 ($4,400,000) 12/15/2010 $687,463,543 ($100,000) $687,563,543 $695,570,000 $682,470,000 $683,100,000 $1,075,240,000 $1,209,800,000 $707,370,000 Adjusted CAP 10/15/2010 ($8,006,457) $502,430,000 9/30/2009 9/30/2010 ($10,000) Adjustment Date Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Termination of SPA Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Termination of SPA Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $10,568,915 $0 $3,917 $7,569,459 Borrower’s Incentives $19,524,821 $0 $7,710 $11,592,937 Lenders/ Investors Incentives $5,132,908 $0 $3,000 $16,279,383 Servicers Incentives TARP Incentive Payments Continued on next page $35,226,645 $0 $14,626 $35,441,779 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 343 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($770,000) $630,000 ($118,190) 4/16/2015 4/28/2015 $1,530,000 2/13/2015 $1,070,605 $80,000 1/15/2015 3/26/2015 ($328,884) 12/29/2014 3/16/2015 ($5,930,000) 12/16/2014 $2,890,000 9/16/2014 $5,980,000 $990,000 8/14/2014 11/14/2014 $72,892,870 ($138,184) 7/29/2014 ($38,150) ($290,000) 7/16/2014 ($1,830,000) ($69,560) 6/26/2014 9/29/2014 $15,780,000 6/16/2014 10/16/2014 $72,931,020 $640,000 5/15/2014 $73,206,401 $73,324,591 $72,694,591 $71,623,986 $72,393,986 $70,863,986 $70,783,986 $71,112,870 $77,042,870 $71,062,870 $70,041,020 $69,051,020 $69,189,204 $69,479,204 $69,548,764 $53,768,764 $53,128,764 $53,058,764 ($4,045) $70,000 4/16/2014 $53,062,809 $47,342,809 $41,452,809 $33,102,809 $33,187,185 $33,047,185 $32,007,185 $26,447,239 3/26/2014 $5,890,000 $8,350,000 1/16/2014 $5,720,000 ($84,376) 12/23/2013 2/13/2014 $140,000 12/16/2013 3/14/2014 $1,040,000 11/14/2013 $31,287,185 ($54) $720,000 9/27/2013 10/15/2013 $31,287,239 $20,000 $4,840,000 $26,427,239 $19,777,239 $19,777,325 $18,017,325 $14,307,325 $14,107,325 9/16/2013 3/25/2013 $14,107,539 8/15/2013 ($214) 3/14/2013 $14,187,539 $6,650,000 ($80,000) 2/14/2013 $14,777,539 7/16/2013 ($590,000) 1/16/2013 $14,747,600 $14,747,539 ($86) $30,000 12/27/2012 $1,760,000 ($61) 10/16/2012 $12,937,600 6/14/2013 $1,810,000 9/27/2012 $12,937,894 $12,847,894 6/27/2013 ($294) 8/16/2012 $200,000 $90,000 7/16/2012 $12,797,999 $12,797,894 $3,710,000 $50,000 6/28/2012 5/16/2013 ($105) 6/14/2012 Adjusted CAP 4/16/2013 ($210,000) Adjustment Date Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 344 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution FCI Lender Services, Inc., Anaheim Hills, CA Date 5/13/2011 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $0 N/A 3 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $500,000 $100,000 ($9) $200,000 $100,000 $2,500,000 $1,510,000 $450,000 ($66) $250,000 $90,000 ($191) $140,000 $70,000 5/13/2011 6/16/2011 6/29/2011 7/14/2011 9/15/2011 11/16/2011 5/16/2012 6/14/2012 6/28/2012 7/16/2012 8/16/2012 9/27/2012 10/16/2012 11/15/2012 $40,000 ($179,850) 3/28/2016 $50,000 $360,000 ($135) ($10,000) $40,000 $200,000 ($53) $20,000 ($19) $260,000 $30,000 ($33,755) $110,000 3/25/2013 4/16/2013 5/16/2013 6/14/2013 6/27/2013 7/16/2013 9/27/2013 10/15/2013 11/14/2013 12/23/2013 2/13/2014 1/16/2013 3/14/2013 $40,000 12/27/2012 2/14/2013 ($34) 12/14/2012 $2,980,000 3/16/2016 $7,400,000 1/14/2016 ($740,000) ($1,157,968) 12/28/2015 ($8,019,526) $3,920,000 12/16/2015 2/25/2016 $3,880,000 2/16/2016 $5,310,000 11/16/2015 8/14/2015 10/15/2015 $6,280,000 7/16/2015 $1,750,000 ($6,500,000) 6/25/2015 $1,030,559 ($179,814) 6/16/2015 9/16/2015 $530,000 5/14/2015 9/28/2015 $180,000 Adjustment Date $7,015,738 $6,905,738 $6,939,493 $6,909,493 $6,649,493 $6,649,512 $6,629,512 $6,629,565 $6,429,565 $6,389,565 $6,399,565 $6,399,700 $6,039,700 $5,989,700 $5,949,700 $5,949,734 $5,909,734 $5,839,734 $5,699,734 $5,699,925 $5,609,925 $5,359,925 $5,359,991 $4,909,991 $3,399,991 $899,991 $799,991 $599,991 $600,000 $500,000 $89,689,802 $89,869,652 $86,889,652 $94,909,178 $95,649,178 $88,249,178 $89,407,146 $85,487,146 $81,607,146 $76,297,146 $75,266,587 $73,516,587 $67,236,587 $73,736,587 $73,916,401 $73,386,401 Adjusted CAP Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $64,326 Borrower’s Incentives $144,098 Lenders/ Investors Incentives $54,412 Servicers Incentives TARP Incentive Payments Continued on next page $262,837 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 345 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $640,000 ($1,305) $120,000 $40,000 $110,000 ($15,838) $440,000 ($33,291) $1,110,000 $40,000 ($12,454) $20,000 $20,000 $190,000 ($1,564,671) $10,000 $10,000 ($593,009) ($2,341,121) $50,000 $60,000 ($566,166) $80,000 $220,000 $260,000 ($847,553) $80,000 $420,000 $420,000 ($780,127) $230,000 $250,000 ($2,536,406) $30,000 ($54,350) Adjustment Date 3/14/2014 3/26/2014 4/16/2014 5/15/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 9/16/2014 9/29/2014 10/16/2014 11/14/2014 12/16/2014 12/29/2014 1/15/2015 2/13/2015 3/26/2015 4/28/2015 5/14/2015 6/16/2015 6/25/2015 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 $2,519,447 $2,573,797 $2,543,797 $5,080,203 $4,830,203 $4,600,203 $5,380,330 $4,960,330 $4,540,330 $4,460,330 $5,307,883 $5,047,883 $4,827,883 $4,747,883 $5,314,049 $5,254,049 $5,204,049 $7,545,170 $8,138,179 $8,128,179 $8,118,179 $9,682,850 $9,492,850 $9,472,850 $9,452,850 $9,465,304 $9,425,304 $8,315,304 $8,348,595 $7,908,595 $7,924,433 $7,814,433 $7,774,433 $7,654,433 $7,655,738 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 346 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Fidelity Bank, New Orleans, LA Date 12/9/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $2,940,000 N/A Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($1) ($2) ($16) ($12) ($32) ($5) ($21) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 ($3) ($165) ($1,944) ($3,862) ($1,276) ($130,634) ($49,137) ($187,406) ($45,604) ($60,938) ($41,224) ($126,974) ($2,655) 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 12/23/2013 3/26/2014 ($4,716) 9/27/2013 ($8) ($6,384,611) 9/30/2010 6/27/2013 $6,300,000 ($1,980,000) 7/14/2010 1/22/2010 3/26/2010 $140,000 Adjustment Date $358,754 $361,409 $488,383 $529,607 $590,545 $636,149 $823,555 $872,692 $1,003,326 $1,004,602 $1,008,464 $1,010,408 $1,010,573 $1,015,289 $1,015,292 $1,015,300 $1,015,321 $1,015,326 $1,015,358 $1,015,370 $1,015,386 $1,015,388 $1,015,389 $7,400,000 $9,380,000 $3,080,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $17,116 Borrower’s Incentives $30,434 Lenders/ Investors Incentives $30,766 Servicers Incentives TARP Incentive Payments Continued on next page $78,316 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 347 Purchase Purchase Name of Institution FIRST BANK, St. Louis, MO First Citizens Bank & Trust Company, Hendersonville, NC Date 7/29/2009 5/15/2014 Transaction Type $6,460,000 $0 Financial Instrument for Home Loan Modifications N/A N/A 3 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($2) ($2) ($15) ($3) ($5) ($1) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 ($1) ($35) $1,722 $33,199 $2,304,333 $4,415 $495,986 $38,337 $16,222 $12,289 ($392,747) ($8,110) 3/26/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 $10,000 ($18) 12/23/2013 5/15/2014 ($474) 6/27/2013 ($5) $2,523,114 9/30/2010 3/25/2013 $2,460,000 ($2,470,000) 12/30/2009 7/14/2010 $680,000 9/30/2009 3/26/2010 ($1,530,000) Adjustment Date $10,000 $10,628,199 $10,636,309 $11,029,056 $11,016,767 $11,000,545 $10,962,208 $10,466,222 $10,461,807 $8,157,474 $8,124,275 $8,122,553 $8,122,588 $8,122,606 $8,123,080 $8,123,081 $8,123,086 $8,123,087 $8,123,092 $8,123,095 $8,123,110 $8,123,112 $8,123,114 $5,600,000 $8,070,000 $5,610,000 $4,930,000 Adjusted CAP Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $5,917 $1,836,989 Borrower’s Incentives $0 $2,901,179 Lenders/ Investors Incentives $0 $1,689,312 Servicers Incentives TARP Incentive Payments Continued on next page $5,917 $6,427,480 Total TARP Incentive Payments 348 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 $3,460,000 Financial Instrument for Home Loan Modifications First Federal Savings and Loan Association Purchase of Lakewood, Lakewood, OH 12/16/2009 $770,000 Financial Instrument for Home Loan Modifications Purchase First Federal Savings and Loan, Port Angeles, WA 6/19/2009 $100,000 Purchase First Federal Bank of Florida, Lake City, FL 9/30/2010 Investment Description Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Name of Institution Date Transaction Type Servicer Modifying Borrowers’ Loans N/A N/A N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($1) ($2) ($1) ($232) ($8) ($96) 6/29/2011 6/28/2012 9/27/2012 3/25/2013 12/23/2013 3/26/2014 6/26/2014 ($191) ($1) 9/30/2010 ($2,879) ($11,347) ($2,691) ($3,595) ($2,660) ($7,597) ($159) 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 $11,370,000 $160,000 5/26/2010 ($3,620,000) 1/22/2010 ($14,160,000) 3/26/2010 $2,020,000 ($7,654) 9/29/2014 12/30/2009 ($63) 7/29/2014 $45,056 Adjustment Date 4/21/2010 $0 $3,620,000 $0 $14,160,000 $2,790,000 $105,879 $106,038 $113,635 $116,295 $119,890 $122,581 $133,928 $136,807 $144,461 $144,524 $144,715 $144,811 $144,819 $145,051 $145,052 $145,054 $145,055 $145,056 Adjusted CAP Termination of SPA Updated portfolio data from servicer/additional program initial cap Termination of SPA Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Reason for Adjustment Adjustment Details $0 $0 $0 Borrower’s Incentives $0 $0 $0 Lenders/ Investors Incentives $0 $0 $0 Servicers Incentives TARP Incentive Payments Continued on next page $0 $0 $0 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 349 Purchase First Keystone Bank, 11/25/2009 Media, PA First Mortgage Company, LLC, Oklahoma City, OK Purchase First Financial Bank, N.A., Terre Haute, ID 8/27/2010 6/16/2014 Purchase Name of Institution Date Transaction Type $4,300,000 $1,280,000 $0 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A 3 6 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($34) ($57,776) ($2,031) ($23,972) ($47,613) ($15,728) ($1,905,128) ($716,488) ($2,824,053) ($669,754) $10,000 ($896,475) ($663,462) ($1,894,718) ($39,578) $50,000 $1,020,000 ($950,000) $50,556 6/27/2013 9/27/2013 12/23/2013 3/26/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 7/16/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 1/22/2010 3/26/2010 7/14/2010 9/30/2010 ($2) ($95) 3/25/2013 ($21) ($1,335,614) 6/16/2011 6/29/2011 7/22/2011 $20,000 ($100,000) 3/30/2011 6/16/2014 ($2) 1/6/2011 ($67) ($253) 12/27/2012 ($144) ($396) 6/28/2012 9/27/2012 ($20) ($192) 1/6/2011 6/29/2011 ($17) 9/30/2010 3/30/2011 $7,014,337 Adjustment Date $20,000 $14,917 $1,350,531 $1,350,552 $1,450,552 $1,450,554 $1,450,556 $1,400,000 $2,350,000 $1,330,000 $1,566,343 $1,605,921 $3,500,639 $4,164,101 $5,060,576 $5,050,576 $5,720,330 $8,544,383 $9,260,871 $11,165,999 $11,181,727 $11,229,340 $11,253,312 $11,255,343 $11,313,119 $11,313,153 $11,313,248 $11,313,501 $11,313,568 $11,313,964 $11,314,108 $11,314,300 $11,314,320 $11,314,337 Adjusted CAP Transfer of cap due to servicing transfer Termination of SPA Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Reason for Adjustment Adjustment Details $0 $2,776 $333 Borrower’s Incentives $0 $3,423 $0 Lenders/ Investors Incentives $0 $8,718 $1,000 Servicers Incentives TARP Incentive Payments Continued on next page $0 $14,917 $1,333 Total TARP Incentive Payments 350 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 $400,000 $800,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Purchase First Safety Bank, Cincinnati, OH Flagstar Capital Markets Corporation, Purchase Troy, MI 9/30/2010 9/30/2010 1/13/2010 $140,000 Purchase First National Bank of Grant Park, Grant Park, IL Financial Instrument for Home Loan Modifications 9/30/2010 $100,000 Purchase First Mortgage Corporation, Diamond Bar, CA Investment Description N/A N/A N/A N/A 3 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism Financial Instrument for Home Loan Modifications Name of Institution Date Transaction Type Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($1) ($2) ($1) ($232) ($8) ($96) 6/28/2012 9/27/2012 3/25/2013 12/23/2013 3/26/2014 6/26/2014 ($63) ($3,595) ($2,660) ($10,000) ($2,025) ($42) $150,000 9/28/2015 12/28/2015 2/16/2016 2/25/2016 3/28/2016 3/26/2010 $10,000 ($2,691) 6/25/2015 1/26/2011 ($1) ($2) ($2) ($18) ($14) ($37) ($6) 9/30/2010 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 ($24) $360,445 3/23/2011 ($9) ($3) ($5,463) ($192) ($2,267) ($1,152,408) $10,000 $10,000 $10,000 3/25/2013 ($580,221) 1/6/2011 $180,222 ($290,111) 9/30/2010 9/30/2010 ($9,889) 7/14/2010 ($2,879) ($11,347) 4/28/2015 12/29/2014 3/26/2015 ($7,654) 9/29/2014 ($191) ($1) 9/30/2010 6/29/2011 7/29/2014 $45,056 Adjustment Date 6/27/2013 9/27/2013 12/23/2013 3/26/2014 6/26/2014 7/1/2014 4/16/2015 5/14/2015 1/14/2016 $30,000 $20,000 $10,000 $0 $1,152,408 $1,154,675 $1,154,867 $1,160,330 $1,160,333 $1,160,342 $1,160,366 $1,160,372 $1,160,409 $1,160,423 $1,160,441 $1,160,443 $1,160,445 $0 $580,221 $580,222 $0 $290,111 $300,000 $290,000 $101,568 $101,610 $103,635 $113,635 $116,295 $119,890 $122,581 $133,928 $136,807 $144,461 $144,524 $144,715 $144,811 $144,819 $145,051 $145,052 $145,054 $145,055 $145,056 Adjusted CAP Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Termination of SPA Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Termination of SPA Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Reason for Adjustment Adjustment Details $7,000 $0 $0 $3,917 Borrower’s Incentives $0 $0 $0 $0 Lenders/ Investors Incentives $0 $0 $0 $3,000 Servicers Incentives TARP Incentive Payments Continued on next page $7,000 $0 $0 $6,917 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 351 Name of Institution Florida Community Bank, NA, Weston, FL Date 2/13/2014 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $0 N/A 3 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $20,000 ($37) ($73) ($25) 3/26/2014 4/16/2014 6/26/2014 7/29/2014 9/29/2014 ($16) ($64) ($15) ($20) ($14,536) ($45,046) ($10,000) ($718) 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/16/2016 3/28/2016 $27,160 ($2) 2/13/2014 12/29/2014 $150,000 Adjustment Date $126,608 $127,326 $137,326 $182,372 $196,908 $196,928 $196,943 $197,007 $197,023 $169,863 $169,888 $169,961 $169,998 $149,998 $150,000 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $11,000 Borrower’s Incentives $14,177 Lenders/ Investors Incentives $11,000 Servicers Incentives TARP Incentive Payments Continued on next page $36,177 Total TARP Incentive Payments 352 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Name of Institution Franklin Credit Management Corporation, Jersey City, NJ Franklin Savings, Cincinnati, OH Date 9/11/2009 9/30/2010 Transaction Type $27,510,000 $1,700,000 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A 6 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($58) ($164) ($29) ($110) ($42) ($15) ($25,724) $40,000 ($913) ($10,778) ($21,410) ($7,073) ($757,196) ($284,769) ($10,000) ($1,122,099) ($266,118) ($10,000) ($353,677) ($10,000) ($257,877) ($843,088) ($17,611) $765,945 ($4) ($4) ($40) ($30) ($83) ($14) 10/14/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 12/23/2013 3/14/2014 3/26/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/16/2015 4/28/2015 6/25/2015 8/14/2015 9/28/2015 11/16/2015 12/28/2015 2/25/2016 3/28/2016 9/30/2010 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 ($2,446,075) ($100,000) 6/29/2011 10/24/2013 ($61) 3/30/2011 ($7) ($6) 2/16/2011 9/27/2013 ($1,800,000) 1/6/2011 ($20) ($3) 9/30/2010 6/27/2013 $2,973,670 7/14/2010 ($53) ($2,390,000) 3/26/2010 ($10,000) ($4,780,000) 12/30/2009 6/14/2013 ($19,750,000) 10/2/2009 3/25/2013 $6,010,000 Adjustment Date $9,615 $2,455,690 $2,455,697 $2,455,717 $2,465,717 $2,465,770 $2,465,784 $2,465,867 $2,465,897 $2,465,937 $2,465,941 $2,465,945 $3,714,849 $3,732,460 $4,575,548 $4,833,425 $4,843,425 $5,197,102 $5,207,102 $5,473,220 $6,595,319 $6,605,319 $6,890,088 $7,647,284 $7,654,357 $7,675,767 $7,686,545 $7,687,458 $7,647,458 $7,673,182 $7,673,197 $7,673,239 $7,673,349 $7,673,378 $7,673,542 $7,673,600 $7,773,600 $7,773,661 $7,773,667 $9,573,667 $9,573,670 $6,600,000 $8,990,000 $13,770,000 $33,520,000 Adjusted CAP Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $1,750 $342,554 Borrower’s Incentives $3,865 $658,318 Lenders/ Investors Incentives $4,000 $743,024 Servicers Incentives TARP Incentive Payments Continued on next page $9,615 $1,743,896 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 353 Purchase Purchase Purchase Purchase Purchase Name of Institution Freedom Mortgage Corporation, Fishers, IN Fresno County Federal Credit Union, Fresno, CA Gateway Mortgage Group, LLC, Tulsa, OK Georgia Housing & Finance Authority DBA State Home Mortgage, Atlanta, GA GFA Federal Credit Union, Gardner, MA Date 2/16/2016 1/13/2010 9/30/2010 5/14/2015 9/30/2010 Transaction Type $100,000 Financial Instrument for Home Loan Modifications $100,000 Financial Instrument for Home Loan Modifications $0 $260,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications $0 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A N/A N/A 3 6 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 ($1) ($19,778) 9/30/2010 ($6) ($555,252) $45,056 ($1) ($1) ($2) ($1) ($232) ($8) ($96) 6/29/2011 6/28/2012 7/6/2012 9/30/2010 6/29/2011 6/28/2012 9/27/2012 3/25/2013 12/23/2013 3/26/2014 6/26/2014 ($191) ($8) 3/30/2011 ($2,879) ($11,347) ($2,691) ($3,595) ($2,660) ($7,597) ($159) 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 3/23/2011 9/30/2010 ($145,056) $45,056 $40,000 ($7,654) 9/29/2014 5/14/2015 ($63) 7/29/2014 ($1) 1/6/2011 $480,000 ($140,000) 3/26/2010 7/14/2010 $10,000 CAP Adjustment Amount 2/16/2016 Adjustment Date $0 $145,056 $40,000 $105,879 $106,038 $113,635 $116,295 $119,890 $122,581 $133,928 $136,807 $144,461 $144,524 $144,715 $144,811 $144,819 $145,051 $145,052 $145,054 $145,055 $145,056 $24,954 $580,206 $580,212 $580,220 $580,221 $580,222 $600,000 $740,000 $10,000 Adjusted CAP Termination of SPA Updated portfolio data from servicer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $0 $1,000 $0 $3,833 $0 Borrower’s Incentives $0 $0 $0 $13,204 $0 Lenders/ Investors Incentives $0 $1,000 $0 $7,917 $0 Servicers Incentives TARP Incentive Payments Continued on next page $0 $2,000 $0 $24,954 $0 Total TARP Incentive Payments 354 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Purchase Purchase Name of Institution Glass City Federal Credit Union, Maumee, OH Glenview State Bank, Glenview, IL Date 9/23/2009 12/11/2009 Golden Plains Credit 12/16/2009 Union, Garden City, KS Grafton Suburban 12/23/2009 Credit Union, North Grafton, MA Transaction Type $230,000 $370,000 $170,000 $340,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A N/A 6 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($3) ($2) 6/29/2011 6/28/2012 ($1) 12/23/2013 $1,250,000 1/22/2010 ($320,000) 1/22/2010 3/26/2010 $760,000 $20,000 2/17/2011 ($1) ($11) ($725,265) 1/25/2012 1/6/2011 6/29/2011 ($1) 9/30/2010 3/30/2011 ($74,722) 7/14/2010 $90,111 ($290,111) 9/30/2010 ($10,000) 7/14/2010 $30,000 $10,000 5/26/2010 3/26/2010 ($1,640,000) 3/26/2010 $20,000 ($275,124) 11/3/2014 1/22/2010 ($807) ($267) 7/29/2014 9/29/2014 ($34) ($979) 9/27/2013 ($406) ($1) 6/27/2013 6/26/2014 ($2) 3/25/2013 3/26/2014 ($4) 12/27/2012 ($7) ($9,889) 9/30/2010 9/27/2012 $130,000 ($110,000) 12/30/2009 7/14/2010 ($10,000) 10/2/2009 3/26/2010 $60,000 Adjustment Date $0 $725,265 $725,276 $725,277 $725,278 $800,000 $40,000 $360,000 $0 $290,111 $200,000 $210,000 $180,000 $0 $1,640,000 $390,000 $12,474 $287,598 $287,865 $288,672 $289,078 $289,112 $290,091 $290,092 $290,094 $290,098 $290,099 $290,106 $290,108 $290,111 $300,000 $410,000 $280,000 $290,000 Adjusted CAP Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Termination of SPA Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Termination of SPA Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $0 $0 $0 $4,000 Borrower’s Incentives $0 $0 $0 $2,474 Lenders/ Investors Incentives $0 $0 $0 $6,000 Servicers Incentives TARP Incentive Payments Continued on next page $0 $0 $0 $12,474 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 355 Name of Institution Great Lakes Credit 10/14/2009 Union, North Chicago, IL Date Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $570,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($320,000) $180,222 ($1) ($1) ($8) ($6) ($17) ($3) ($11) 3/26/2010 7/14/2010 9/30/2010 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 ($4) ($880,000) 12/30/2009 ($86) ($925) ($1,789) ($607) ($64,898) ($25,379) ($85,402) ($19,002) ($23,268) ($20,061) ($71,077) ($1,485) 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 12/23/2013 6/26/2014 ($2,438) 9/27/2013 3/26/2014 ($1) 6/27/2013 $1,030,000 Adjustment Date $263,753 $265,238 $336,315 $356,376 $379,644 $398,646 $484,048 $509,427 $574,325 $574,932 $576,721 $577,646 $577,732 $580,170 $580,171 $580,175 $580,186 $580,189 $580,206 $580,212 $580,220 $580,221 $580,222 $400,000 $720,000 $1,600,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $30,023 Borrower’s Incentives $36,972 Lenders/ Investors Incentives $27,573 Servicers Incentives TARP Incentive Payments Continued on next page $94,567 Total TARP Incentive Payments 356 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Greater Nevada LLC dba Greater Nevada Mortgage, Carson City, NV Date 1/13/2010 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $770,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 ($1) ($1) ($8) ($4) ($10) ($2) ($7) ($2) 9/30/2010 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 ($1,504) ($1,772) $497,659 ($757) ($5,586) ($10,273) ($215,610) ($5,125) 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 ($322) ($10,113) 9/29/2014 12/29/2014 ($491) ($975) 6/26/2014 3/26/2014 7/29/2014 ($43) 12/23/2013 ($1) $170,334 7/14/2010 9/27/2013 $8,680,000 ($8,750,000) 3/26/2010 CAP Adjustment Amount Adjustment Date $1,115,386 $1,120,511 $1,336,121 $1,346,394 $1,351,980 $1,352,737 $855,078 $856,850 $866,963 $867,285 $868,260 $868,751 $868,794 $870,298 $870,299 $870,301 $870,308 $870,310 $870,320 $870,324 $870,332 $870,333 $870,334 $700,000 $9,450,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Reason for Adjustment Adjustment Details $177,001 Borrower’s Incentives $228,363 Lenders/ Investors Incentives $126,019 Servicers Incentives TARP Incentive Payments Continued on next page $531,383 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 357 Name of Institution Gregory Funding, LLC, Beaverton, OR Date 7/14/2011 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $0 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 Adjusted CAP $100,000 ($9) $20,000 ($26) $50,000 $10,000 ($5) $130,000 $120,000 ($20) $80,000 $420,000 ($10) ($4) $120,000 ($7,685) $10,000 ($274) $240,000 $30,000 1/13/2012 6/28/2012 8/16/2012 9/27/2012 10/16/2012 12/14/2012 12/27/2012 1/16/2013 2/14/2013 3/25/2013 5/16/2013 6/14/2013 6/27/2013 9/27/2013 11/14/2013 12/23/2013 3/14/2014 3/26/2014 4/16/2014 6/16/2014 ($6,541) $90,000 $30,000 ($2,150) $100,000 $260,000 ($122,632) $60,000 $690,000 ($37,405) ($144,484) ($41,229) $40,000 $1,860,000 $1,560,000 ($408,264) $740,000 $550,000 ($469,266) $630,000 $740,000 ($2,389,111) $180,000 ($53,531) 7/29/2014 ($3,396) $900,000 6/26/2014 $200,000 7/14/2011 11/16/2011 8/14/2014 9/16/2014 9/29/2014 11/14/2014 12/16/2014 12/29/2014 1/15/2015 3/16/2015 3/26/2015 4/28/2015 6/25/2015 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 $6,273,958 $6,327,489 $6,147,489 $8,536,600 $7,796,600 $7,166,600 $7,635,866 $7,085,866 $6,345,866 $6,754,130 $5,194,130 $3,334,130 $3,294,130 $3,335,359 $3,479,843 $3,517,248 $2,827,248 $2,767,248 $2,889,880 $2,629,880 $2,529,880 $2,532,030 $2,502,030 $2,412,030 $2,418,571 $2,421,967 $2,391,967 $2,151,967 $2,152,241 $2,142,241 $2,149,926 $2,029,926 $2,029,930 $2,029,940 $1,609,940 $1,529,940 $1,529,960 $1,409,960 $1,279,960 $1,279,965 $1,269,965 $1,219,965 $1,219,991 $1,199,991 $1,200,000 $1,100,000 $200,000 CAP Adjustment Amount Adjustment Date Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $725,466 Borrower’s Incentives $935,545 Lenders/ Investors Incentives $159,518 Servicers Incentives TARP Incentive Payments Continued on next page $1,820,529 Total TARP Incentive Payments 358 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Harleysville National Bank & Trust Company, Harleysville, PA 10/28/2009 Purchase Purchase Guaranty Bank, Saint Paul, MN 9/30/2010 Hartford Savings 12/11/2009 Bank, Hartford, WI Purchase Name of Institution Date Transaction Type $100,000 $1,070,000 $630,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($7,654) ($2,879) ($11,347) ($2,691) ($3,595) ($2,660) ($7,597) ($159) 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 ($1,070,000) ($63) 9/29/2014 ($2) ($2) ($18) ($14) ($37) ($6) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 ($192) ($2,267) ($4,502) ($1,487) ($180,152) ($67,752) ($898,515) 3/26/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/2/2015 $0 $898,515 $966,267 $1,146,419 $1,147,906 $1,152,408 $1,154,675 $1,154,867 $1,160,330 ($3) ($5,463) 9/27/2013 12/23/2013 $1,160,333 ($9) 6/27/2013 $1,160,342 $1,160,366 $1,160,372 $1,160,409 $1,160,423 $1,160,441 $1,160,443 $1,160,445 ($24) $60,445 9/30/2010 $1,100,000 $1,460,000 $660,000 $0 $105,879 $106,038 $113,635 $116,295 $119,890 $122,581 $133,928 $136,807 $144,461 $144,524 $144,715 $144,811 $144,819 $145,051 $145,052 $145,054 $145,055 $145,056 Adjusted CAP 3/25/2013 $800,000 ($360,000) 7/14/2010 1/22/2010 3/26/2010 $30,000 4/21/2010 ($191) ($232) 12/23/2013 7/29/2014 ($1) 3/25/2013 ($8) ($2) 9/27/2012 ($96) ($1) 6/28/2012 3/26/2014 ($1) 9/30/2010 6/29/2011 6/26/2014 $45,056 Adjustment Date Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Termination of SPA Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Reason for Adjustment Adjustment Details $0 $0 $917 Borrower’s Incentives $0 $0 $0 Lenders/ Investors Incentives $0 $0 $1,000 Servicers Incentives TARP Incentive Payments Continued on next page $0 $0 $1,917 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 359 Purchase Home Financing 11/25/2009 Center, Inc, Coral Gables, FL Purchase Purchase Heartland Bank & Trust Company, Bloomington, IL 5/15/2014 Transaction Type Hillsdale County 11/18/2009 National Bank, Hillsdale, MI Name of Institution Date $0 $1,670,000 $230,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($1) $80,001 6/26/2014 9/29/2014 12/29/2014 ($1) ($2) ($16) ($12) ($33) ($6) ($21) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 ($8) $160,445 9/30/2010 ($1,311) ($144,011) ($55,020) ($152,138) ($33,425) ($44,706) ($34,106) ($179,660) ($3,907) 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 ($230,000) ($3,965) 7/29/2014 4/21/2010 ($169) ($1,996) 12/23/2013 6/26/2014 ($4,797) 9/27/2013 3/26/2014 ($3) 6/27/2013 $330,000 $80,000 1/22/2010 ($1,080,000) ($238) 3/28/2016 7/14/2010 ($11,380) 2/25/2016 3/26/2010 ($131) ($1,938) 9/28/2015 ($56) 6/25/2015 12/28/2015 ($131) 4/28/2015 ($24) $20,556 5/15/2014 3/26/2015 $90,000 Adjustment Date $0 $501,132 $505,039 $684,699 $718,805 $763,511 $796,936 $949,074 $1,004,094 $1,148,105 $1,149,416 $1,153,381 $1,155,377 $1,155,546 $1,160,343 $1,160,346 $1,160,354 $1,160,375 $1,160,381 $1,160,414 $1,160,426 $1,160,442 $1,160,444 $1,160,445 $1,000,000 $2,080,000 $1,750,000 $176,658 $176,896 $188,276 $190,214 $190,345 $190,401 $190,532 $190,556 $110,555 $110,556 $90,000 Adjusted CAP Termination of SPA Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $0 $99,550 $21,626 Borrower’s Incentives $0 $60,611 $36,811 Lenders/ Investors Incentives $0 $67,400 $7,626 Servicers Incentives TARP Incentive Payments Continued on next page $0 $227,561 $66,062 Total TARP Incentive Payments 360 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Name of Institution Home Loan Services, Inc., Pittsburgh, PA Home Servicing, LLC, Baton Rouge, LA Date 4/20/2009 2/14/2013 Transaction Type $319,000,000 $0 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A 3 7 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $145,820,000 ($17,440,000) ($73,010,000) $6,700,000 9/30/2009 12/30/2009 3/26/2010 7/14/2010 9/30/2010 ($77,126,410) $46,730,000 6/12/2009 ($278) ($400,000) ($2,625) ($155,061,221) $510,000 ($9) $200,000 $40,000 ($4) ($120,000) ($2) ($2,620) ($92) ($1,088) ($2,161) ($290,000) 3/30/2011 5/13/2011 6/29/2011 10/19/2011 2/14/2013 3/25/2013 4/16/2013 5/16/2013 6/27/2013 7/16/2013 9/27/2013 12/23/2013 3/26/2014 6/26/2014 7/29/2014 9/16/2014 ($40,233) ($15,131) ($59,638) $70,000 ($22,485) $20,000 $350,000 ($76,282) $30,000 ($64,113) ($189,556) $430,000 ($14,867) 12/29/2014 3/26/2015 4/28/2015 6/16/2015 6/25/2015 7/16/2015 8/14/2015 9/28/2015 12/16/2015 12/28/2015 2/25/2016 3/16/2016 3/28/2016 ($332) ($400,000) 3/16/2011 9/29/2014 ($233) ($1,900,000) 1/6/2011 12/15/2010 2/16/2011 ($314,900,000) 9/30/2010 $128,300,000 Adjustment Date $751,387 $766,254 $336,254 $525,810 $589,923 $559,923 $636,205 $286,205 $266,205 $288,690 $218,690 $278,328 $293,459 $333,692 $334,024 $624,024 $626,185 $627,273 $627,365 $629,985 $629,987 $749,987 $749,991 $709,991 $509,991 $510,000 $6,309,233 $161,370,454 $161,373,079 $161,773,079 $161,773,357 $162,173,357 $164,073,357 $164,073,590 $478,973,590 $556,100,000 $549,400,000 $622,410,000 $639,850,000 $494,030,000 $447,300,000 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Termination of SPA Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Reason for Adjustment Adjustment Details $15,034 $169,858 Borrower’s Incentives $29,572 $2,440,768 Lenders/ Investors Incentives $14,784 $3,698,607 Servicers Incentives TARP Incentive Payments Continued on next page $59,389 $6,309,233 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 361 HomEq Servicing, North Highlands, CA 8/5/2009 HomeStar Bank & 12/11/2009 Financial Services, Manteno, IL Name of Institution Date Purchase Purchase Transaction Type $674,000,000 $310,000 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A 6 13 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($170,800,000) ($22,200,000) ($549) ($900,000) 10/15/2010 12/15/2010 1/6/2011 2/16/2011 ($6,168) ($3,071) ($1,101) ($10,000) ($1,858,220) ($360,860,500) $20,000 3/25/2013 6/27/2013 9/27/2013 11/14/2013 12/23/2013 2/27/2014 1/22/2010 ($1) ($1) ($13) ($10) ($856,986) 1/6/2011 $70,334 ($8,137) 12/27/2012 9/30/2010 ($2,148) 12/14/2012 $820,000 ($20,000) 9/27/2012 ($350,000) ($12,728) 8/16/2012 7/14/2010 ($430,000) 6/28/2012 3/26/2010 ($4,634) 6/29/2011 ($653) $38,626,728 9/30/2010 3/30/2011 $199,320,000 ($189,040,000) 12/30/2009 7/14/2010 ($36,290,000) 9/30/2009 3/26/2010 ($121,190,000) Adjustment Date 3/30/2011 6/29/2011 6/28/2012 7/6/2012 $13,323 $870,309 $870,319 $870,332 $870,333 $870,334 $800,000 $1,150,000 $330,000 $8,308,819 $369,169,319 $371,027,539 $371,037,539 $371,038,640 $371,041,711 $371,049,848 $371,051,996 $371,071,996 $371,084,724 $371,514,724 $371,519,358 $371,525,526 $371,526,179 $372,426,179 $372,426,728 $394,626,728 $565,426,728 $526,800,000 $715,840,000 $516,520,000 $552,810,000 Adjusted CAP Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Termination of SPA Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $1,917 $0 Borrower’s Incentives $5,573 $3,036,319 Lenders/ Investors Incentives $5,833 $5,272,500 Servicers Incentives TARP Incentive Payments Continued on next page $13,323 $8,308,819 Total TARP Incentive Payments 362 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Homeward Residential, Inc. (American Home Mortgage Servicing, Inc), Coppell, TX Date 7/22/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $1,272,490,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A 14 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $300,000 ($100,000) ($1,173) ($500,000) ($1,400) $3,100,000 ($12,883) ($1,000,000) ($100,000) ($1,100,000) ($10,000) ($8,378) 10/15/2010 11/16/2010 1/6/2011 2/16/2011 3/30/2011 4/13/2011 6/29/2011 9/15/2011 10/14/2011 11/16/2011 5/16/2012 6/28/2012 ($80,000) ($22,494) ($260,000) ($30,000) ($50,000) ($3,676) ($80,000) $20,000 ($84,160,000) ($12,821) ($621,110,000) ($19,120,000) ($1,947) ($14,870,000) ($655) $20,000 ($1,110,189) ($39,031) ($10,000) ($284,475,088) 8/16/2012 ($470,000) $1,690,508 9/30/2010 7/16/2012 $124,820,000 ($289,990,000) 12/30/2009 7/14/2010 $250,450,000 9/30/2009 3/26/2010 ($53,670,000) Adjustment Date 9/27/2012 10/16/2012 11/15/2012 12/14/2012 12/27/2012 1/16/2013 2/14/2013 3/14/2013 3/25/2013 4/16/2013 5/16/2013 6/27/2013 7/16/2013 9/27/2013 12/16/2013 12/23/2013 3/26/2014 4/16/2014 5/28/2014 $280,490,773 $564,965,861 $564,975,861 $565,014,892 $566,125,081 $566,105,081 $566,105,736 $580,975,736 $580,977,683 $600,097,683 $1,221,207,683 $1,221,220,504 $1,305,380,504 $1,305,360,504 $1,305,440,504 $1,305,444,180 $1,305,494,180 $1,305,524,180 $1,305,784,180 $1,305,806,674 $1,305,886,674 $1,306,356,674 $1,306,365,052 $1,306,375,052 $1,307,475,052 $1,307,575,052 $1,308,575,052 $1,308,587,935 $1,305,487,935 $1,305,489,335 $1,305,989,335 $1,305,990,508 $1,306,090,508 $1,305,790,508 $1,304,100,000 $1,594,090,000 $1,469,270,000 $1,218,820,000 Adjusted CAP Termination of SPA Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $51,759,482 Borrower’s Incentives $133,893,684 Lenders/ Investors Incentives $94,837,607 Servicers Incentives TARP Incentive Payments Continued on next page $280,490,773 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 363 Horicon Bank, Horicon Bank, Horicon, WI 9/2/2009 Horizon Bank, NA, 12/16/2009 Michigan City, IN Name of Institution Date Purchase Purchase Transaction Type $560,000 $700,000 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($1,680,000) $1,260,000 ($1,110,000) $100,000 ($9,889) ($3) ($2) ($7) ($1) 12/30/2009 3/26/2010 5/12/2010 7/14/2010 9/30/2010 9/30/2010 6/29/2011 6/28/2012 9/27/2012 12/27/2012 ($4) $1,040,000 10/2/2009 ($32,056) ($670) $30,000 2/25/2016 3/28/2016 1/22/2010 ($2) ($2) ($23) ($17) ($1,450,512) 1/6/2011 $850,556 ($11,225) 12/28/2015 9/30/2010 ($15,167) 9/28/2015 $1,740,000 ($11,354) 6/25/2015 ($1,870,000) ($47,875) 4/28/2015 7/14/2010 ($12,146) 3/26/2010 ($32,297) 3/26/2015 6/26/2014 12/29/2014 ($406) 3/26/2014 ($807) ($34) 12/23/2013 ($267) ($979) 9/27/2013 7/29/2014 ($1) 6/27/2013 9/29/2014 ($2) 3/25/2013 $130,000 Adjustment Date 3/30/2011 6/29/2011 6/28/2012 9/21/2012 $0 $1,450,512 $1,450,529 $1,450,552 $1,450,554 $1,450,556 $600,000 $2,470,000 $730,000 $124,808 $125,478 $157,534 $168,759 $183,926 $195,280 $243,155 $255,301 $287,598 $287,865 $288,672 $289,078 $289,112 $290,091 $290,092 $290,094 $290,098 $290,099 $290,106 $290,108 $290,111 $300,000 $200,000 $1,310,000 $50,000 $1,730,000 $690,000 Adjusted CAP Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $0 $17,182 Borrower’s Incentives $0 $27,035 Lenders/ Investors Incentives $0 $13,170 Servicers Incentives TARP Incentive Payments Continued on next page $0 $57,386 Total TARP Incentive Payments 364 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Name of Institution Iberiabank, Sarasota, FL IBM Southeast Employees’ Federal Credit Union, Delray Beach, FL Date 12/23/2009 7/10/2009 Transaction Type $4,230,000 $870,000 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A 6 6 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount 3/26/2010 $5,852,780 ($10,000) $250,000 ($10,000) 9/30/2009 12/30/2009 3/26/2010 $170,334 ($1) ($12) ($9) ($821,722) 6/29/2011 6/28/2012 9/14/2012 1/6/2011 3/30/2011 ($1) 9/30/2010 ($400,000) ($6,927,254) 6/3/2011 7/14/2010 ($13) ($300,000) 4/13/2011 1/6/2011 3/30/2011 ($11) 9/30/2010 ($1,560,000) ($1,470,000) 1/22/2010 7/14/2010 $200,000 Adjustment Date $48,589 $870,311 $870,320 $870,332 $870,333 $870,334 $700,000 $1,100,000 $1,110,000 $860,000 $25,502 $6,952,756 $7,252,756 $7,252,769 $7,252,780 $1,400,000 $2,960,000 $4,430,000 Adjusted CAP Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Termination of SPA Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $9,000 $0 Borrower’s Incentives $23,589 $10,502 Lenders/ Investors Incentives $16,000 $15,000 Servicers Incentives TARP Incentive Payments Continued on next page $48,589 $25,502 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 365 Name of Institution IC Federal Credit 10/23/2009 Union, Fitchburg, MA Date Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $760,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $565,945 ($4) ($4) ($40) ($29) ($80) ($14) ($52) ($19) 9/30/2010 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 ($7) ($770,000) 7/14/2010 ($410) ($4,837) ($9,607) ($3,173) ($374,717) ($140,949) ($534,653) ($128,282) ($172,975) ($128,015) ($381,987) ($8,288) 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 12/23/2013 3/26/2014 ($11,558) 9/27/2013 ($760,000) $2,630,000 5/12/2010 1/22/2010 3/26/2010 $40,000 Adjustment Date $566,245 $574,533 $956,520 $1,084,535 $1,257,510 $1,385,792 $1,920,445 $2,061,394 $2,436,111 $2,439,284 $2,448,891 $2,453,728 $2,454,138 $2,465,696 $2,465,703 $2,465,722 $2,465,774 $2,465,788 $2,465,868 $2,465,897 $2,465,937 $2,465,941 $2,465,945 $1,900,000 $2,670,000 $40,000 $800,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $36,333 Borrower’s Incentives $66,128 Lenders/ Investors Incentives $42,200 Servicers Incentives TARP Incentive Payments Continued on next page $144,662 Total TARP Incentive Payments 366 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Idaho Housing and Finance Association, Boise, ID Date 12/4/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $9,430,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($9,889) ($3) ($2) ($6) ($1) ($3) 9/30/2010 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 ($1) $150,000 7/14/2010 ($226) ($18,852) ($7,136) $259,548 ($35) ($1,297) ($6,174) ($36,778) ($923) 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 ($314) ($626) 3/26/2014 6/26/2014 ($26) 12/23/2013 7/29/2014 ($747) 6/27/2013 $14,480,000 ($24,200,000) 5/26/2010 1/22/2010 3/26/2010 $440,000 Adjustment Date $476,509 $477,432 $514,210 $520,384 $521,681 $521,716 $262,168 $269,304 $288,156 $288,382 $289,008 $289,322 $289,348 $290,095 $290,096 $290,099 $290,100 $290,106 $290,108 $290,111 $300,000 $150,000 $24,350,000 $9,870,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $119,514 Borrower’s Incentives $35,536 Lenders/ Investors Incentives $33,025 Servicers Incentives TARP Incentive Payments Continued on next page $188,076 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 367 Name of Institution iServe Residential Lending, LLC, San Diego, CA Date 1/29/2010 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $960,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $200,000 ($364,833) $100,000 ($1) ($1) ($7) ($6) ($15) ($3) ($10) ($4) 7/14/2010 9/30/2010 9/30/2010 11/16/2010 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 ($1) $370,000 3/26/2010 ($79) ($930) ($1,848) ($610) ($73,927) ($27,803) ($109,586) ($25,989) ($34,717) ($25,693) ($73,376) ($1,533) 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 12/23/2013 3/26/2014 ($2,242) 9/27/2013 ($730,000) Adjustment Date $156,786 $158,319 $231,695 $257,388 $292,105 $318,094 $427,680 $455,483 $529,410 $530,020 $531,868 $532,798 $532,877 $535,119 $535,120 $535,124 $535,134 $535,137 $535,152 $535,158 $535,165 $535,166 $535,167 $435,167 $800,000 $600,000 $230,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated portfolio data from servicer Reason for Adjustment Adjustment Details $0 Borrower’s Incentives $0 Lenders/ Investors Incentives $0 Servicers Incentives TARP Incentive Payments Continued on next page $0 Total TARP Incentive Payments 368 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution iServe Servicing, Inc., Irving, TX Date 3/5/2010 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $28,040,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 ($3,125,218) $800,000 ($20) ($24) ($221) ($169) ($465) 9/30/2010 11/16/2010 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 ($297) ($112) ($10,000) ($40) ($60,000) ($67,516) ($2,373) ($28,014) ($55,640) ($18,379) ($2,226,283) ($837,269) ($9,967,882) 3/25/2013 ($78) $12,474,782 $100,000 9/30/2010 12/27/2012 $15,600,000 ($12,660,000) 7/14/2010 6/27/2013 7/16/2013 9/27/2013 11/14/2013 12/23/2013 3/26/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/2/2015 $0 $9,967,882 $10,805,151 $13,031,434 $13,049,813 $13,105,453 $13,133,467 $13,135,840 $13,203,356 $13,263,356 $13,263,396 $13,273,396 $13,273,508 $13,273,805 $13,273,883 $13,274,348 $13,274,517 $13,274,738 $13,274,762 $13,274,782 $15,500,000 $28,160,000 $120,000 5/26/2010 Adjusted CAP CAP Adjustment Amount Adjustment Date Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $0 Borrower’s Incentives $0 Lenders/ Investors Incentives $0 Servicers Incentives TARP Incentive Payments Continued on next page $0 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 369 Purchase Purchase Name of Institution James B. Nutter & Company, Kansas City, MO JP Morgan Chase Bank, NA, Lewisville, TX Date 9/24/2010 7/31/2009 Transaction Type $300,000 $2,699,720,000 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($1) ($6) ($4) ($12) ($2) ($8) ($3) ($1) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 ($61) ($470) ($56,939) ($21,414) ($84,403) ($20,017) ($26,739) ($19,789) ($56,514) ($1,180) ($14,850,000) $1,178,180,000 $1,006,580,000 ($1,934,230,000) $72,400,000 $215,625,536 ($3,636) ($100,000) 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 9/30/2009 12/30/2009 3/26/2010 7/14/2010 9/30/2010 9/30/2010 1/6/2011 3/16/2011 ($3,999) ($1,423) 6/26/2014 ($200,000) $122,700,000 ($34,606) $600,000 ($400,000) ($100,000) $200,000 $519,211,309 ($2,800,000) ($100,000) ($100,000) 3/30/2011 ($716) 3/26/2014 ($1,727) ($1) 9/30/2010 12/23/2013 $135,167 Adjustment Date 4/13/2011 5/13/2011 6/29/2011 7/14/2011 8/16/2011 9/15/2011 10/14/2011 10/19/2011 11/16/2011 1/13/2012 2/16/2012 $3,862,294,604 $3,862,394,604 $3,862,494,604 $3,865,294,604 $3,346,083,295 $3,345,883,295 $3,345,983,295 $3,346,383,295 $3,345,783,295 $3,345,817,901 $3,223,117,901 $3,223,317,901 $3,223,321,900 $3,223,421,900 $3,223,425,536 $3,007,800,000 $2,935,400,000 $4,869,630,000 $3,863,050,000 $2,684,870,000 $143,737 $144,917 $201,431 $221,220 $247,959 $267,976 $352,379 $373,793 $430,732 $431,202 $432,625 $433,341 $433,402 $435,129 $435,130 $435,133 $435,141 $435,143 $435,155 $435,159 $435,165 $435,166 $435,167 Adjusted CAP Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Reason for Adjustment Adjustment Details $553,147,016 $17,515 Borrower’s Incentives $1,344,550,483 $0 Lenders/ Investors Incentives $502,458,705 $17,124 Servicers Incentives TARP Incentive Payments Continued on next page $2,400,156,204 $34,638 Total TARP Incentive Payments 370 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($126,080,000) ($1,620,000) ($16,192) ($2,300,000) ($20,000) ($37,341) ($1,130,000) ($3,770,000) ($180,000) ($4,535) ($60,000) ($520,000) ($90,000) ($14,310) ($110,000) ($120,000) ($50,000) ($3,778) ($103,240,000) ($20,000) ($99,960,000) ($724) ($77,990,000) ($15,610,000) ($50,000) ($840,396) ($5,790,000) ($52,670,000) ($3,730,000) ($21,412) ($14,000,000) ($18,970,000) ($30,170,000) ($101,752) ($12,980,000) ($154,293) ($7,180,000) ($9,640,000) ($18,088) ($390,000) ($10,150,000) ($4,800,000) $549,933,107 ($10,720,000) ($4,030,000) ($47,020,000) Adjustment Date 5/16/2012 6/14/2012 6/28/2012 7/16/2012 8/16/2012 9/27/2012 10/16/2012 11/15/2012 12/14/2012 12/27/2012 1/16/2013 2/14/2013 3/14/2013 3/25/2013 4/16/2013 5/16/2013 6/14/2013 6/27/2013 7/16/2013 8/15/2013 9/16/2013 9/27/2013 10/15/2013 11/14/2013 12/16/2013 12/23/2013 1/16/2014 2/13/2014 3/14/2014 3/26/2014 4/16/2014 5/15/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 9/16/2014 9/29/2014 10/16/2014 11/14/2014 12/16/2014 12/29/2014 1/15/2015 2/13/2015 3/16/2015 $3,745,854,890 $3,792,874,890 $3,796,904,890 $3,807,624,890 $3,257,691,783 $3,262,491,783 $3,272,641,783 $3,273,031,783 $3,273,049,871 $3,282,689,871 $3,289,869,871 $3,290,024,164 $3,303,004,164 $3,303,105,916 $3,333,275,916 $3,352,245,916 $3,366,245,916 $3,366,267,328 $3,369,997,328 $3,422,667,328 $3,428,457,328 $3,429,297,724 $3,429,347,724 $3,444,957,724 $3,522,947,724 $3,522,948,448 $3,622,908,448 $3,622,928,448 $3,726,168,448 $3,726,172,226 $3,726,222,226 $3,726,342,226 $3,726,452,226 $3,726,466,536 $3,726,556,536 $3,727,076,536 $3,727,136,536 $3,727,141,071 $3,727,321,071 $3,731,091,071 $3,732,221,071 $3,732,258,412 $3,732,278,412 $3,734,578,412 $3,734,594,604 $3,736,214,604 Adjusted CAP Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 371 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $40,703,961 ($3,010,000) $332,660,757 ($8,210,000) ($14,130,000) $40,588,882 ($17,520,000) ($10,000) $760,000 $27,225,885 ($7,740,000) ($6,050,000) ($1,730,000) $37,401,098 ($36,700,000) ($200,000) ($132,520,607) ($9,320,000) ($2,278,595) Adjustment Date 3/26/2015 4/16/2015 4/28/2015 5/14/2015 6/16/2015 6/25/2015 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 $3,985,776,271 $3,988,054,866 $3,997,374,866 $4,129,895,473 $4,130,095,473 $4,166,795,473 $4,129,394,375 $4,131,124,375 $4,137,174,375 $4,144,914,375 $4,117,688,490 $4,116,928,490 $4,116,938,490 $4,134,458,490 $4,093,869,608 $4,107,999,608 $4,116,209,608 $3,783,548,851 $3,786,558,851 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 372 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Kondaur Capital Corporation, Orange, CA Date 11/15/2012 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $0 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($10,000) ($10,000) ($10,000) $130,000 ($50,000) ($20,000) ($155) $2,240,000 ($373) ($4,497) ($8,932) ($40,000) ($2,954) ($340,000) ($50,000) ($296,094) 12/14/2012 1/16/2013 2/14/2013 4/16/2013 5/16/2013 6/14/2013 7/16/2013 12/23/2013 3/14/2014 3/26/2014 6/26/2014 7/29/2014 9/16/2014 9/29/2014 11/14/2014 12/16/2014 12/29/2014 ($100,000) $70,000 11/15/2012 ($92,587) $6,360,000 ($2,372,693) ($430,000) ($240,000) ($505,871) ($30,000) ($160,000) ($20,000) ($647,986) $170,000 ($260,000) $460,000 ($546,139) $50,000 ($1,600,422) ($1,350,000) $42,705 4/16/2015 4/28/2015 5/14/2015 6/16/2015 6/25/2015 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/25/2016 3/16/2016 3/28/2016 2/13/2015 3/26/2015 ($20,000) 1/15/2015 $30,000 Adjustment Date $334,002 $291,297 $1,641,297 $3,241,719 $3,191,719 $3,737,858 $3,277,858 $3,537,858 $3,367,858 $4,015,844 $4,035,844 $4,195,844 $4,225,844 $4,731,715 $4,971,715 $5,401,715 $7,774,408 $1,414,408 $1,506,995 $1,526,995 $1,626,995 $1,923,089 $1,973,089 $2,313,089 $2,316,043 $2,356,043 $2,364,975 $2,369,472 $2,369,845 $129,845 $130,000 $150,000 $200,000 $70,000 $80,000 $90,000 $100,000 $30,000 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $27,232 Borrower’s Incentives $25,752 Lenders/ Investors Incentives $29,839 Servicers Incentives TARP Incentive Payments Continued on next page $82,823 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 373 Purchase Purchase Purchase Name of Institution Lake City Bank, Warsaw, IN Lake National Bank,Mentor, OH Land/Home Financial Services, Inc.,Concord, CA Date 8/5/2009 7/10/2009 6/16/2014 Transaction Type $420,000 $100,000 $0 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A 3 6 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($7) ($1) ($4) ($2) ($1) ($979) 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 12/23/2013 ($9,806) ($17,748) ($4,963) ($6,649) ($4,972) ($23,766) ($342) $150,000 $130,000 $50,000 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 9/30/2009 12/30/2009 3/26/2010 $35,167 ($6) ($4) ($424,504) 3/30/2011 6/29/2011 6/28/2012 8/23/2012 9/16/2014 $20,000 $40,000 ($1) 1/6/2011 6/16/2014 ($1) 9/30/2010 ($30,000) ($26,057) 12/29/2014 7/14/2010 ($807) ($267) 7/29/2014 9/29/2014 ($34) ($2) 6/28/2012 ($406) ($3) 6/29/2011 6/26/2014 $90,111 9/30/2010 3/26/2014 $20,000 ($70,000) 12/30/2009 7/14/2010 ($350,000) 9/30/2009 3/26/2010 $180,000 Adjustment Date $60,000 $40,000 $10,651 $435,155 $435,159 $435,165 $435,166 $435,167 $400,000 $430,000 $380,000 $250,000 $193,295 $193,637 $217,403 $222,375 $229,024 $233,987 $251,735 $261,541 $287,598 $287,865 $288,672 $289,078 $289,112 $290,091 $290,092 $290,094 $290,098 $290,099 $290,106 $290,108 $290,111 $200,000 $270,000 $250,000 $600,000 Adjusted CAP Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $917 $3,000 $23,212 Borrower’s Incentives $232 $3,651 $18,657 Lenders/ Investors Incentives $1,000 $4,000 $27,196 Servicers Incentives TARP Incentive Payments Continued on next page $2,149 $10,651 $69,065 Total TARP Incentive Payments 374 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Name of Institution LenderLive Network, Inc, Glendale, CO Liberty Bank and Trust Co, New Orleans, LA Date 1/16/2014 9/30/2010 Transaction Type $0 $1,000,000 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($2) $20,000 $80,000 ($236) $140,000 ($1,069) $60,000 ($438) ($30,607) ($11,543) ($45,568) ($10,869) $10,000 ($16,383) $10,000 ($13,791) $360,000 ($251,560) $20,000 ($5,780) $450,556 ($2) ($2) ($23) ($17) ($48) ($8) ($30) ($11) ($4) 3/14/2014 3/26/2014 5/15/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 7/16/2015 9/28/2015 11/16/2015 12/28/2015 2/16/2016 2/25/2016 3/16/2016 3/28/2016 9/30/2010 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 ($6,958) $10,000 1/16/2014 ($245) ($2,887) ($5,734) ($1,894) ($229,437) ($86,288) ($340,104) ($80,659) ($107,746) ($79,741) ($227,724) ($4,757) 12/23/2013 $100,000 Adjustment Date 3/26/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 $276,237 $280,994 $508,718 $588,459 $696,205 $776,864 $1,116,968 $1,203,256 $1,432,693 $1,434,587 $1,440,321 $1,443,208 $1,443,453 $1,450,411 $1,450,415 $1,450,426 $1,450,456 $1,450,464 $1,450,512 $1,450,529 $1,450,552 $1,450,554 $1,450,556 $422,154 $427,934 $407,934 $659,494 $299,494 $313,285 $303,285 $319,668 $309,668 $320,537 $366,105 $377,648 $408,255 $408,693 $348,693 $349,762 $209,762 $209,998 $129,998 $109,998 $110,000 $100,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $0 $38,500 Borrower’s Incentives $0 $69,770 Lenders/ Investors Incentives $0 $8,000 Servicers Incentives TARP Incentive Payments Continued on next page $0 $116,270 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 375 Purchase Purchase Name of Institution Liberty Savings Bank, FSB, Wilmington OH Litton Loan Servicing, LP, Houston, TX Date 12/16/2014 8/12/2009 Transaction Type $0 $774,900,000 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A 12 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 $10,000 CAP Adjustment Amount ($1,000,000) ($115,017,236) ($800,000) $800,000 ($1,286) $8,800,000 ($1,470) ($3,300,000) ($300,000) ($700,000) 9/15/2010 9/30/2010 10/15/2010 12/15/2010 1/6/2011 3/16/2011 3/30/2011 4/13/2011 5/13/2011 6/16/2011 ($200,000) ($2,900,000) ($300,000) ($500,000) ($2,600,000) ($194,800,000) ($400,000) ($9,728) ($7,990,000) ($26,467) ($4,466) ($16,922) ($6,386) ($2,289) ($60,000) ($3,864,503) ($30,000) ($765,231,390) 7/14/2011 ($13,097) ($700,000) 8/13/2010 6/29/2011 $278,910,000 ($474,730,000) 12/30/2009 7/14/2010 $275,370,000 9/30/2009 3/26/2010 $313,050,000 12/16/2014 Adjustment Date 9/15/2011 10/14/2011 11/16/2011 12/15/2011 1/13/2012 2/16/2012 6/28/2012 8/16/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 12/16/2013 12/23/2013 1/16/2014 1/31/2014 $76,324,760 $841,556,150 $841,586,150 $845,450,653 $845,510,653 $845,512,942 $845,519,328 $845,536,250 $845,540,716 $845,567,183 $853,557,183 $853,566,911 $853,966,911 $1,048,766,911 $1,051,366,911 $1,051,866,911 $1,052,166,911 $1,055,066,911 $1,055,266,911 $1,055,280,008 $1,055,980,008 $1,056,280,008 $1,059,580,008 $1,059,581,478 $1,050,781,478 $1,050,782,764 $1,049,982,764 $1,050,782,764 $1,165,800,000 $1,166,800,000 $1,167,500,000 $1,642,230,000 $1,363,320,000 $1,087,950,000 $10,000 Adjusted CAP Termination of SPA Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $13,441,220 $0 Borrower’s Incentives $35,353,126 $0 Lenders/ Investors Incentives $27,530,414 $0 Servicers Incentives TARP Incentive Payments Continued on next page $76,324,760 $0 Total TARP Incentive Payments 376 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Los Alamos National Bank, Los Alamos, NM Date 11/6/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $700,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($3) ($4) ($35) ($26) ($70) ($12) ($45) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 ($17) $75,834 9/30/2010 ($346) ($4,087) ($8,119) ($2,682) ($306,175) ($116,051) ($350,852) ($83,233) ($111,184) ($82,285) ($266,057) ($5,558) 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 12/23/2013 6/26/2014 ($9,932) 9/27/2013 3/26/2014 ($6) 6/27/2013 $50,000 $1,310,000 7/14/2010 1/22/2010 3/26/2010 $40,000 Adjustment Date $829,055 $834,613 $1,100,670 $1,182,955 $1,294,139 $1,377,372 $1,728,224 $1,844,275 $2,150,450 $2,153,132 $2,161,251 $2,165,338 $2,165,684 $2,175,616 $2,175,622 $2,175,639 $2,175,684 $2,175,696 $2,175,766 $2,175,792 $2,175,827 $2,175,831 $2,175,834 $2,100,000 $790,000 $740,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $126,484 Borrower’s Incentives $63,748 Lenders/ Investors Incentives $66,088 Servicers Incentives TARP Incentive Payments Continued on next page $256,320 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 377 Name of Institution M&T Bank, Buffalo, NY Date 9/30/2010 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $700,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($1) ($11) ($11) ($30) ($5) ($20) ($7) ($3) ($4,381) $1,280,000 $125,146 $20,000 $80,000 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 12/23/2013 2/13/2014 3/26/2014 4/16/2014 5/15/2014 $230,716 $830,000 $20,000 ($112,429) $1,180,000 ($2,303,668) ($44,805) 12/16/2015 12/28/2015 2/16/2016 2/25/2016 3/28/2016 3/26/2015 $4,943,712 $3,793,179 12/29/2014 9/28/2015 $5,916,728 11/14/2014 11/16/2015 $60,000 9/29/2014 ($253,976) $1,468,864 9/16/2014 $2,727,797 $20,000 8/14/2014 6/25/2015 $2,310,000 7/29/2014 4/28/2015 $688,320 6/26/2014 $140,000 ($1) 9/30/2010 6/16/2014 $315,389 Adjustment Date $24,130,503 $24,175,308 $26,478,976 $25,298,976 $25,411,405 $25,391,405 $24,561,405 $19,617,693 $16,889,896 $17,143,872 $13,350,693 $7,433,965 $7,373,965 $5,905,101 $5,885,101 $3,575,101 $2,886,781 $2,656,065 $2,516,065 $2,436,065 $2,416,065 $2,290,919 $1,010,919 $1,015,300 $1,015,303 $1,015,310 $1,015,330 $1,015,335 $1,015,365 $1,015,376 $1,015,387 $1,015,388 $1,015,389 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Reason for Adjustment Adjustment Details $1,465,171 Borrower’s Incentives $1,332 Lenders/ Investors Incentives $1,506,929 Servicers Incentives TARP Incentive Payments Continued on next page $2,973,432 Total TARP Incentive Payments 378 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Name of Institution Magna Bank, Germantown, TN Mainstreet Credit Union, Lexena, KS Date 9/30/2010 9/30/2010 Transaction Type $1,400,000 $500,000 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($3) ($33) ($25) ($68) ($11) ($44) ($16) ($6) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 ($350) ($4,127) ($8,198) ($2,708) ($328,007) ($123,358) ($486,219) ($115,312) ($154,035) ($113,998) ($325,557) ($6,800) $225,278 ($1) ($725,277) 3/26/2014 ($9,947) ($3) 9/30/2010 12/23/2013 $630,778 Adjustment Date 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 9/30/2010 1/6/2011 3/9/2011 $0 $725,277 $725,278 $351,953 $358,753 $684,310 $798,308 $952,343 $1,067,655 $1,553,874 $1,677,232 $2,005,239 $2,007,947 $2,016,145 $2,020,272 $2,020,622 $2,030,569 $2,030,575 $2,030,591 $2,030,635 $2,030,646 $2,030,714 $2,030,739 $2,030,772 $2,030,775 $2,030,778 Adjusted CAP Termination of SPA Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Reason for Adjustment Adjustment Details $0 $0 Borrower’s Incentives $0 $0 Lenders/ Investors Incentives $0 $0 Servicers Incentives TARP Incentive Payments Continued on next page $0 $0 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 379 Name of Institution Marix Servicing, LLC, Purchase Phoenix, AZ Date 11/25/2009 Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $20,360,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($154) $100,000 $300,000 ($1,500,000) ($2,100,000) ($1,300,000) ($8,350,000) ($38) ($90,000) ($103) ($1,020,000) $170,000 ($15) ($100,000) ($490,000) ($61) ($10,000) ($30,000) ($10,000) ($23) ($20,000) ($8) ($13,934) ($490) ($5,781) ($11,483) ($3,793) ($459,453) ($172,793) ($681,066) ($161,522) ($215,764) 7/14/2011 8/16/2011 1/13/2012 2/16/2012 4/16/2012 6/14/2012 6/28/2012 8/16/2012 9/27/2012 10/16/2012 11/15/2012 12/27/2012 2/14/2013 3/14/2013 3/25/2013 4/16/2013 5/16/2013 6/14/2013 6/27/2013 7/16/2013 9/27/2013 12/23/2013 3/26/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 3/16/2011 6/29/2011 $5,700,000 1/6/2011 $900,000 ($1) 9/30/2010 $300,000 $1,357,168 9/30/2010 6/16/2011 $200,000 8/13/2010 5/13/2011 $800,000 7/14/2010 ($6) ($1,160,000) 6/16/2010 $7,300,000 $1,030,000 3/26/2010 4/13/2011 ($17,880,000) 1/22/2010 3/30/2011 $950,000 Adjustment Date $3,680,680 $3,896,444 $4,057,966 $4,739,032 $4,911,825 $5,371,278 $5,375,071 $5,386,554 $5,392,335 $5,392,825 $5,406,759 $5,406,767 $5,426,767 $5,426,790 $5,436,790 $5,466,790 $5,476,790 $5,476,851 $5,966,851 $6,066,851 $6,066,866 $5,896,866 $6,916,866 $6,916,969 $7,006,969 $7,007,007 $15,357,007 $16,657,007 $18,757,007 $20,257,007 $19,957,007 $19,857,007 $19,857,161 $18,957,161 $18,657,161 $11,357,161 $11,357,167 $5,657,167 $5,657,168 $4,300,000 $4,100,000 $3,300,000 $4,460,000 $3,430,000 $21,310,000 Adjusted CAP Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Transfer of cap due to servicing transfer Updated portfolio data from servicer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $352,196 Borrower’s Incentives $970,197 Lenders/ Investors Incentives $839,633 Servicers Incentives TARP Incentive Payments Continued on next page $2,162,025 Total TARP Incentive Payments 380 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Purchase Purchase Name of Institution Marsh Associates, Inc., Charlotte NC Members Mortgage Company, Inc, Woburn, MA Metropolitan National Bank, Little Rock, AR Mid America Mortgage, Inc. (Schmidt Mortgage Company), Rocky River, OH Date 9/30/2010 10/28/2009 9/11/2009 9/30/2010 Transaction Type $280,000 Financial Instrument for Home Loan Modifications $100,000 $510,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications $100,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 $45,056 ($1) ($1) ($1) ($1) ($60,000) 3/28/2016 9/30/2010 6/29/2011 6/28/2012 9/27/2012 3/25/2013 10/15/2013 ($510,000) ($11,376) 2/25/2016 ($7,654) ($2,879) ($11,347) ($2,691) ($3,595) ($2,660) ($7,597) ($159) 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 ($232) 12/23/2013 12/29/2014 ($1) 3/25/2013 ($63) ($2) 9/27/2012 9/29/2014 ($1) 6/28/2012 ($191) ($1) 6/29/2011 7/29/2014 $45,056 9/30/2010 ($8) ($435,166) 1/26/2011 ($96) ($1) 1/6/2011 3/26/2014 $35,167 9/30/2010 6/26/2014 $100,000 ($670,000) 12/30/2009 7/14/2010 $620,000 10/2/2009 3/26/2010 $70,000 4/21/2010 ($159,682) ($544,595) 12/28/2015 CAP Adjustment Amount Adjustment Date $105,879 $106,038 $113,635 $116,295 $119,890 $122,581 $133,928 $136,807 $144,461 $144,524 $144,715 $144,811 $144,819 $145,051 $145,052 $145,054 $145,055 $145,056 $0 $435,166 $435,167 $400,000 $1,070,000 $970,000 $350,000 $0 $85,052 $145,052 $145,053 $145,054 $145,055 $145,056 $2,965,027 $2,976,403 $3,520,998 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Termination of SPA Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Termination of SPA Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Reason for Adjustment Adjustment Details $0 $0 $0 $9,688 Borrower’s Incentives $0 $0 $0 $0 Lenders/ Investors Incentives $0 $0 $0 $10,649 Servicers Incentives TARP Incentive Payments Continued on next page $0 $0 $0 $20,337 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 381 Purchase Purchase Name of Institution MidFirst Bank (Midland Mortgage Co.), Oklahoma City, OK Midwest Bank and Trust Co., Elmwood Park, IL Date 9/30/2010 4/14/2010 Transaction Type $43,500,000 $300,000 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($507) ($1,729) ($593) ($199) ($280,061) 12/27/2012 3/25/2013 6/27/2013 9/27/2013 12/23/2013 $27,080,000 $8,250,000 ($87,379) $13,920,000 $34,217,510 $2,100,000 $12,428,293 ($8,220,532) ($80,000) $300,000 ($19,778) 5/14/2015 6/16/2015 6/25/2015 8/14/2015 9/28/2015 12/16/2015 12/28/2015 2/25/2016 3/28/2016 7/14/2010 9/30/2010 ($1) ($679,405) 4/28/2015 ($1) ($8) ($580,212) 1/6/2011 ($240,368) 3/26/2015 3/30/2011 6/29/2011 7/14/2011 $0 $580,212 $580,220 $580,221 $580,222 $600,000 $319,198,360 $319,278,360 $327,498,892 $315,070,599 $312,970,599 $278,753,089 $264,833,089 $264,920,468 $256,670,468 $229,590,468 $230,269,873 $230,510,241 $154,895,917 ($9,245) $75,614,324 9/29/2014 12/29/2014 $154,905,162 $30,892,185 7/29/2014 $124,012,977 ($95,352) $124,108,329 $124,117,263 $124,397,324 $124,397,523 $124,398,116 $124,399,845 $124,400,352 $124,403,522 $387,953,522 $93,413,522 $93,414,319 $93,415,542 $93,415,681 $93,415,806 Adjusted CAP 6/26/2014 ($8,934) ($3,170) 9/27/2012 3/26/2014 $294,540,000 ($263,550,000) 7/27/2012 ($797) 6/28/2012 7/16/2012 ($139) ($1,223) 1/6/2011 3/30/2011 ($125) 9/30/2010 6/29/2011 $49,915,806 Adjustment Date Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Reason for Adjustment Adjustment Details $0 $33,006,444 Borrower’s Incentives $0 $2,961,788 Lenders/ Investors Incentives $0 $35,084,247 Servicers Incentives TARP Incentive Payments Continued on next page $0 $71,052,480 Total TARP Incentive Payments 382 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Midwest Community Bank, Freeport, IL Date 9/15/2010 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $400,000 N/A Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($1) ($8) ($6) ($17) ($3) ($11) ($4) ($1) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 ($87) ($28,680) ($38,312) ($28,353) ($80,972) ($1,691) 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 12/29/2014 ($30,682) ($81,582) 9/29/2014 ($120,932) ($673) 7/29/2014 4/28/2015 ($2,039) 6/26/2014 3/26/2015 ($1,027) 3/26/2014 ($2,474) ($1) 9/30/2010 12/23/2013 $180,222 Adjustment Date $162,666 $164,357 $245,329 $273,682 $311,994 $340,674 $461,606 $492,288 $573,870 $574,543 $576,582 $577,609 $577,696 $580,170 $580,171 $580,175 $580,186 $580,189 $580,206 $580,212 $580,220 $580,221 $580,222 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Reason for Adjustment Adjustment Details $1,000 Borrower’s Incentives $1,818 Lenders/ Investors Incentives $2,000 Servicers Incentives TARP Incentive Payments Continued on next page $4,818 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 383 Purchase Purchase Name of Institution Mission Federal Credit Union, San Diego, CA MorEquity, Inc., Evansville, IN Date 7/22/2009 7/17/2009 Transaction Type $860,000 $23,480,000 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A 5 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($6,340,000) ($180,000) $125,278 ($1) ($4) ($1) ($1) $47,663 12/30/2009 3/26/2010 7/14/2010 9/30/2010 3/30/2011 6/29/2011 6/28/2012 9/27/2012 3/25/2013 ($149) $6,750,000 9/30/2009 $15,293 $22,214 ($33,723) ($707) $18,530,000 $24,510,000 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 9/30/2009 12/30/2009 ($37) ($29,400,000) ($34) ($20,077,503) 1/6/2011 3/16/2011 3/30/2011 5/26/2011 $4,628,165 $24,705,668 $24,705,702 $62,300,000 $84,880,000 $66,520,000 $42,010,000 $991,179 $991,886 $1,025,609 $1,003,395 $988,102 $990,138 $54,105,702 ($2,036) 4/28/2015 $992,968 $54,105,739 ($2,830) 3/26/2015 $993,848 ($8,194,261) ($880) 12/29/2014 $772,690 9/30/2010 $221,158 9/29/2014 $772,697 $772,716 $18,360,000 ($7) 7/29/2014 ($22,580,000) ($19) 6/26/2014 $772,780 7/14/2010 ($64) 3/26/2014 $772,785 $772,934 $725,271 $725,272 $725,273 $725,277 $725,278 $600,000 $780,000 $7,120,000 $370,000 Adjusted CAP 3/26/2010 ($5) 12/23/2013 ($490,000) Adjustment Date Termination of SPA Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $345,841 $141,603 Borrower’s Incentives $2,305,003 $289,187 Lenders/ Investors Incentives $1,977,321 $139,981 Servicers Incentives TARP Incentive Payments Continued on next page $4,628,165 $570,771 Total TARP Incentive Payments 384 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Purchase Purchase Name of Institution Mortgage Center, LLC, Southfield, MI Mortgage Clearing Corporation, Tulsa, OK Mortgage Investors Group, Knoxville, TN Nationstar Mortgage LLC, Lewisville, TX Date 7/22/2009 10/14/2009 7/16/2014 5/28/2009 Transaction Type $4,210,000 $4,860,000 $0 $101,000,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($12) ($14) ($129) ($94) ($256) ($43) ($162) ($60) ($21) ($35,751) ($1,246) ($14,660) ($28,986) ($9,490) ($1,009,361) ($376,129) ($1,379,506) ($322,597) ($416,164) ($295,000) ($988,991) ($20,369) ($2,900,000) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 12/23/2013 3/26/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 12/30/2009 ($260,000) 3/9/2011 $6,042 9/30/2009 $67,250,000 ($85,900,000) $100,000 $2,900,000 3/26/2010 $80,250,000 6/12/2009 12/30/2009 $16,140,000 $134,560,000 12/29/2014 $10,000 ($145,056) 9/30/2010 7/16/2014 $45,056 7/14/2010 ($1,600,000) $2,658,280 9/30/2010 3/26/2010 $2,800,000 ($5,730,000) 12/30/2009 3/26/2010 $2,840,000 9/30/2009 7/14/2010 $1,780,000 Adjustment Date 7/14/2010 8/13/2010 9/30/2010 $316,300,000 $313,400,000 $313,300,000 $399,200,000 $331,950,000 $251,700,000 $117,140,000 $16,042 $10,000 $0 $145,056 $100,000 $360,000 $1,960,000 $3,659,239 $3,679,608 $4,668,599 $4,963,599 $5,379,763 $5,702,360 $7,081,866 $7,457,995 $8,467,356 $8,476,846 $8,505,832 $8,520,492 $8,521,738 $8,557,489 $8,557,510 $8,557,570 $8,557,732 $8,557,775 $8,558,031 $8,558,125 $8,558,254 $8,558,268 $8,558,280 $5,900,000 $11,630,000 $8,830,000 $5,990,000 Adjusted CAP Updated portfolio data from servicer/additional program initial cap Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Termination of SPA Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $230,871,076 $9,917 $0 $375,563 Borrower’s Incentives $384,450,897 $0 $0 $478,431 Lenders/ Investors Incentives $150,694,053 $2,917 $0 $474,388 Servicers Incentives TARP Incentive Payments Continued on next page $766,016,026 $12,833 $0 $1,328,383 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 385 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 Adjusted CAP $33,801,486 $700,000 $1,700,000 ($363) $900,000 $29,800,000 ($428) $20,077,503 ($4,248) $100,000 ($100,000) $90,000 ($2,380,000) ($2,957) ($2,580,000) $131,450,000 $166,976,849 ($12,806) $160,000 $50,000 ($1,882) ($10,000) ($280,000) ($6,437) $30,000 ($1,510,000) ($1,070,000) ($2,099) $23,179,591 $490,000 $289,070,000 ($1,118) $63,440,000 $5,060,000 $3,210,000 ($1,697,251) ($100,000) $32,370,000 ($20,000) ($47,177) $370,000 $41,040,000 $120,000 ($496,816) $90,000 ($917,451) 9/30/2010 11/16/2010 12/15/2010 1/6/2011 2/16/2011 3/16/2011 3/30/2011 5/26/2011 6/29/2011 11/16/2011 3/15/2012 5/16/2012 6/14/2012 6/28/2012 7/16/2012 8/16/2012 8/23/2012 9/27/2012 11/15/2012 12/14/2012 12/27/2012 2/14/2013 3/14/2013 3/25/2013 4/16/2013 5/16/2013 6/14/2013 6/27/2013 7/9/2013 7/16/2013 9/16/2013 9/27/2013 10/15/2013 11/14/2013 12/16/2013 12/23/2013 1/16/2014 2/13/2014 3/14/2014 3/26/2014 4/16/2014 5/15/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 $1,149,334,396 $1,150,251,847 $1,150,161,847 $1,150,658,663 $1,150,538,663 $1,109,498,663 $1,109,128,663 $1,109,175,840 $1,109,195,840 $1,076,825,840 $1,076,925,840 $1,078,623,091 $1,075,413,091 $1,070,353,091 $1,006,913,091 $1,006,914,209 $717,844,209 $717,354,209 $694,174,618 $694,176,717 $695,246,717 $696,756,717 $696,726,717 $696,733,154 $697,013,154 $697,023,154 $697,025,036 $696,975,036 $696,815,036 $696,827,842 $529,850,993 $398,400,993 $400,980,993 $400,983,950 $403,363,950 $403,273,950 $403,373,950 $403,273,950 $403,278,198 $383,200,695 $383,201,123 $353,401,123 $352,501,123 $352,501,486 $350,801,486 $350,101,486 CAP Adjustment Amount Adjustment Date Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 386 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Nationwide Advantage Mortgage Company, Des Moines, IA Date 12/16/2013 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $0 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($345,854) $23,560,000 $350,000 ($1,170,000) $115,871,484 $390,000 ($20,000) $3,770,000 $77,475,779 $1,400,000 $436,566,037 $0 $70,000 $47,906,687 ($1,480,000) ($10,000) ($1,870,000) $161,750,620 $350,000 ($60,000) ($90,000) $130,704,697 ($2,860,000) $3,400,000 ($102,109,507) $1,050,000 ($1,853,801) 9/16/2014 9/29/2014 10/16/2014 11/14/2014 12/16/2014 12/29/2014 1/15/2015 2/13/2015 3/16/2015 3/26/2015 4/16/2015 4/28/2015 5/14/2015 6/16/2015 6/25/2015 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 5/15/2014 $10,000 $10,000 $4,250,000 8/14/2014 12/16/2013 $47,000,000 Adjustment Date $20,000 $10,000 $2,093,330,538 $2,095,184,339 $2,094,134,339 $2,196,243,846 $2,192,843,846 $2,195,703,846 $2,064,999,149 $2,065,089,149 $2,065,149,149 $2,064,799,149 $1,903,048,529 $1,904,918,529 $1,904,928,529 $1,906,408,529 $1,858,501,842 $1,858,431,842 $1,858,431,842 $1,421,865,805 $1,420,465,805 $1,342,990,026 $1,339,220,026 $1,339,240,026 $1,338,850,026 $1,222,978,542 $1,224,148,542 $1,223,798,542 $1,200,238,542 $1,200,584,396 $1,196,334,396 Adjusted CAP Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $0 Borrower’s Incentives $0 Lenders/ Investors Incentives $0 Servicers Incentives TARP Incentive Payments Continued on next page $0 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 387 Name of Institution Navy Federal Credit Union, Vienna, VA Date 3/10/2010 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $60,780,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($238) 3/30/2011 6/29/2011 ($58) ($199) ($68) ($22) ($36,317) ($1,230) ($13,708) ($26,600) ($8,647) ($473,803) ($141,405) $989,851 $78,769 $259,191 $280,053 ($611,191) ($7,004) 12/27/2012 3/25/2013 6/27/2013 9/27/2013 12/23/2013 3/26/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 ($145) ($26) 1/6/2011 ($374) ($23) 9/30/2010 6/28/2012 $1,071,505 7/14/2010 9/27/2012 ($44,880,000) Adjustment Date $17,258,311 $17,265,315 $17,876,506 $17,596,453 $17,337,262 $17,258,493 $16,268,642 $16,410,047 $16,883,850 $16,892,497 $16,919,097 $16,932,805 $16,934,035 $16,970,352 $16,970,374 $16,970,442 $16,970,641 $16,970,699 $16,971,073 $16,971,218 $16,971,456 $16,971,482 $16,971,505 $15,900,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Reason for Adjustment Adjustment Details $1,746,920 Borrower’s Incentives $3,384,933 Lenders/ Investors Incentives $2,102,264 Servicers Incentives TARP Incentive Payments Continued on next page $7,234,117 Total TARP Incentive Payments 388 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution New Penn Financial, LLC dba Shellpoint Mortgage Servicing, Greenville, SC Date 8/14/2014 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $0 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 ($758,592) $3,030,000 1/14/2016 3/28/2016 ($2,856,501) 12/28/2015 $19,990,000 $1,410,000 12/16/2015 3/16/2016 ($300,000) 11/16/2015 $4,770,000 $680,000 ($13,405,332) ($3,708,330) 9/28/2015 10/15/2015 2/16/2016 $67,174,918 $1,280,000 9/16/2015 2/25/2016 $70,883,248 ($2,810,000) 8/14/2015 $79,734,493 $80,493,085 $60,503,085 $73,908,417 $69,138,417 $66,108,417 $68,964,918 $67,554,918 $67,854,918 $69,603,248 $72,413,248 $59,283,248 ($2,857,812) $13,130,000 $62,141,060 7/16/2015 $5,720,000 6/16/2015 $56,421,060 $55,011,060 $66,604,391 $68,664,391 $71,741,485 $70,441,485 $67,061,485 $66,761,485 $73,870,846 $73,430,846 $71,680,846 $70,880,166 $59,400,166 $59,470,004 $240,000 Adjusted CAP 6/25/2015 $1,410,000 2/13/2015 5/14/2015 $3,380,000 1/15/2015 ($11,593,331) $300,000 12/29/2014 4/28/2015 ($7,109,361) 12/16/2014 ($2,060,000) $440,000 11/14/2014 4/16/2015 $1,750,000 11/3/2014 $1,300,000 $800,680 10/16/2014 ($3,077,094) $11,480,000 9/29/2014 3/16/2015 ($69,838) 9/16/2014 3/26/2015 $240,000 $59,230,004 8/14/2014 CAP Adjustment Amount Adjustment Date Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to merger/acquisition Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $4,020,889 Borrower’s Incentives $8,009,570 Lenders/ Investors Incentives $2,221,486 Servicers Incentives TARP Incentive Payments Continued on next page $14,251,946 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 389 Purchase Purchase Purchase Name of Institution New York Community Bank (AmTrust Bank), Cleveland, OH NJ Housing & Mortgage Finance, Trenton, NJ Oakland Municipal Credit Union, Oakland, CA Date 4/13/2011 3/16/2015 8/5/2009 Transaction Type $0 $0 $140,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A 6 3 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $300,000 ($9) $200,000 ($7) ($19) ($3) ($12) ($5) $150,000 5/13/2011 6/16/2011 6/29/2011 8/16/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 7/16/2013 ($3,454) ($2,846) ($940) ($93,451) ($38,280) ($150,882) ($36,528) ($48,795) ($36,112) ($114,666) ($2,395) $210,000 $52,082 ($20,260) 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 3/16/2015 3/26/2015 4/28/2015 ($4,820) ($1,433) 3/26/2014 ($20,231) ($423) $290,000 $210,000 $170,000 12/28/2015 2/25/2016 3/28/2016 9/30/2009 12/30/2009 3/26/2010 ($74,722) ($1) ($200,000) ($7) ($515,201) 4/13/2011 6/29/2011 7/22/2011 1/6/2011 3/30/2011 ($1) 9/30/2010 ($10,000) ($4,751) 9/28/2015 7/14/2010 ($6,306) 6/25/2015 ($121) 12/23/2013 ($2) $100,000 4/13/2011 9/27/2013 $200,000 Adjustment Date $10,068 $525,269 $525,276 $725,276 $725,277 $725,278 $800,000 $810,000 $640,000 $430,000 $205,291 $205,714 $225,945 $230,696 $237,002 $241,822 $262,082 $210,000 $420,040 $422,435 $537,101 $573,213 $622,008 $658,536 $809,418 $847,698 $941,149 $942,089 $944,935 $946,368 $946,489 $949,943 $949,945 $799,945 $799,950 $799,962 $799,965 $799,984 $799,991 $599,991 $600,000 $300,000 $200,000 Adjusted CAP Termination of SPA Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $0 $51,612 $76,475 Borrower’s Incentives $3,568 $0 $89,506 Lenders/ Investors Incentives $6,500 $32,888 $44,757 Servicers Incentives TARP Incentive Payments Continued on next page $10,068 $84,501 $210,738 Total TARP Incentive Payments 390 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Ocwen Loan Servicing LLC, West Palm Beach, FL Date 4/16/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $659,000,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 $655,960,000 $102,580,000 $277,640,000 9/30/2009 12/30/2009 ($1,114) ($10,044) ($100,000) $194,800,000 $400,000 $100,000 $123,530,000 $354,290,000 3/30/2011 6/29/2011 10/14/2011 1/13/2012 2/16/2012 3/15/2012 5/16/2012 6/14/2012 $13,240,000 $2,080,000 ($1,015) $410,000 $960,000 $83,880,000 ($1,877) $157,237,929 $620,860,000 $18,970,000 ($190,000) ($2,817) $14,710,000 $66,170,000 ($276) $267,580,000 $4,290,000 $280,370,000 $49,286,732 11/15/2012 12/14/2012 12/27/2012 1/16/2013 2/14/2013 3/14/2013 3/25/2013 4/9/2013 4/16/2013 5/16/2013 6/14/2013 6/27/2013 7/16/2013 9/16/2013 9/27/2013 10/15/2013 11/14/2013 12/16/2013 12/23/2013 $1,835,613,521 ($10,733) $14,560,000 9/27/2012 10/16/2012 $1,835,624,254 $8,390,000 8/16/2012 $3,430,022,197 $3,380,735,465 $3,100,365,465 $3,096,075,465 $2,828,495,465 $2,828,495,741 $2,762,325,741 $2,747,615,741 $2,747,618,558 $2,747,808,558 $2,728,838,558 $2,107,978,558 $1,950,740,629 $1,950,742,506 $1,866,862,506 $1,865,902,506 $1,865,492,506 $1,865,493,521 $1,863,413,521 $1,850,173,521 $1,827,234,254 $10,080,000 7/16/2012 $1,817,154,254 $1,817,160,562 $1,462,870,562 $1,339,340,562 $1,339,240,562 $1,338,840,562 $1,144,040,562 $1,144,140,562 $1,144,150,606 $1,144,151,720 ($6,308) $900,000 2/16/2011 $1,143,251,720 $1,143,252,740 $968,610,000 $944,900,000 6/28/2012 ($1,020) 1/6/2011 $972,452,740 $3,742,740 $170,800,000 $100,000 9/15/2010 9/30/2010 $23,710,000 7/16/2010 10/15/2010 $968,710,000 ($191,610,000) 7/14/2010 $980,460,000 6/16/2010 $1,136,510,000 $46,860,000 $156,050,000 3/26/2010 $933,600,000 $553,380,000 ($105,620,000) 6/12/2009 Adjusted CAP CAP Adjustment Amount Adjustment Date Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Transfer of cap due to servicing transfer Updated portfolio data from servicer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Reason for Adjustment Adjustment Details $574,317,511 Borrower’s Incentives $1,715,414,067 Lenders/ Investors Incentives $485,518,529 Servicers Incentives TARP Incentive Payments Continued on next page $2,775,250,107 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 391 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 $51,180,000 $765,231,390 $38,900,000 $360,860,500 $25,080,000 ($167,651) $11,980,000 $130,000 $284,475,088 $690,000 ($2,284,678) ($10,000) ($4,336,420) $1,030,000 $2,290,000 ($1,332,356) ($55,610,000) ($560,000) $1,110,000 $301,404,585 $100,000 $31,540,000 $185,944,745 ($4,540,000) $427,273,750 ($2,790,000) ($8,130,000) $166,414,320 ($7,110,000) ($10,500,000) ($7,770,000) $158,658,251 ($5,660,000) ($600,000) ($9,870,000) $85,621,261 ($350,000) $30,000 ($168,638,885) $161,526,035 ($21,390,000) ($5,796,239) 1/16/2014 1/31/2014 2/13/2014 2/27/2014 3/14/2014 3/26/2014 4/16/2014 5/15/2014 5/28/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 9/16/2014 9/29/2014 10/16/2014 11/14/2014 12/16/2014 12/29/2014 1/15/2015 2/13/2015 3/26/2015 4/16/2015 4/28/2015 5/14/2015 6/16/2015 6/25/2015 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/4/2016 3/16/2016 3/28/2016 CAP Adjustment Amount Adjustment Date $6,174,045,892 $6,179,842,131 $6,201,232,131 $6,039,706,096 $6,208,344,981 $6,208,314,981 $6,208,664,981 $6,123,043,720 $6,132,913,720 $6,133,513,720 $6,139,173,720 $5,980,515,469 $5,988,285,469 $5,998,785,469 $6,005,895,469 $5,839,481,149 $5,847,611,149 $5,850,401,149 $5,423,127,399 $5,427,667,399 $5,241,722,654 $5,210,182,654 $5,210,082,654 $4,908,678,069 $4,907,568,069 $4,908,128,069 $4,963,738,069 $4,965,070,425 $4,962,780,425 $4,961,750,425 $4,966,086,845 $4,966,096,845 $4,968,381,523 $4,967,691,523 $4,683,216,435 $4,683,086,435 $4,671,106,435 $4,671,274,086 $4,646,194,086 $4,285,333,587 $4,246,433,587 $3,481,202,197 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to merger/acquisition Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to merger/acquisition Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to merger/acquisition Transfer of cap due to servicing transfer Transfer of cap due to merger/acquisition Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 392 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Ocwen Loan Servicing, LLC (as successor in interest to GMAC Mortgage, LLC, Ft. Washington, PA) Date 4/13/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $633,000,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A 16 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 $1,301,400,000 $1,518,398,139 $2,537,240,000 ($1,679,520,000) $190,180,000 $1,880,000 ($881,530,000) ($3,700,000) $119,200,000 $216,998,139 ($500,000) ($1,734) ($100,000) ($2,024) ($800,000) ($17,900,000) ($18,457) ($200,000) $3,400,000 $200,000 ($800,000) ($200,000) $2,600,000 ($1,600,000) ($400,000) ($100,000) ($800,000) ($990,000) ($12,463) $10,000 ($33,210) ($1,200,000) $40,000 ($5,432) $60,000 ($30,000) ($80,000) ($19,838) $30,000 ($7,105) ($66,500,000) ($2,430) ($197,220,000) ($30,000) ($2,230,000) 9/30/2009 12/30/2009 3/26/2010 5/14/2010 7/14/2010 8/13/2010 9/30/2010 9/30/2010 12/15/2010 1/6/2011 3/16/2011 3/30/2011 4/13/2011 5/13/2011 6/29/2011 7/14/2011 8/16/2011 9/15/2011 10/14/2011 11/16/2011 12/15/2011 1/13/2012 3/15/2012 4/16/2012 5/16/2012 6/14/2012 6/28/2012 8/16/2012 9/27/2012 11/15/2012 12/14/2012 12/27/2012 1/16/2013 2/14/2013 3/14/2013 3/25/2013 6/14/2013 6/27/2013 9/16/2013 9/27/2013 10/15/2013 11/14/2013 12/16/2013 $1,232,955,446 $1,235,185,446 $1,235,215,446 $1,432,435,446 $1,432,437,876 $1,498,937,876 $1,498,944,981 $1,498,914,981 $1,498,934,819 $1,499,014,819 $1,499,044,819 $1,498,984,819 $1,498,990,251 $1,498,950,251 $1,500,150,251 $1,500,183,461 $1,500,173,461 $1,500,185,924 $1,501,175,924 $1,501,975,924 $1,502,075,924 $1,502,475,924 $1,504,075,924 $1,501,475,924 $1,501,675,924 $1,502,475,924 $1,502,275,924 $1,498,875,924 $1,499,075,924 $1,499,094,381 $1,516,994,381 $1,517,794,381 $1,517,796,405 $1,517,896,405 $1,517,898,139 $1,182,200,000 $1,185,900,000 $2,067,430,000 $2,065,550,000 $1,875,370,000 $3,554,890,000 $1,017,650,000 $384,650,000 6/12/2009 Adjusted CAP CAP Adjustment Amount Adjustment Date Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Transfer of cap due to servicing transfer Updated portfolio data from servicer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Reason for Adjustment Adjustment Details $63,425,900 Borrower’s Incentives $148,796,298 Lenders/ Investors Incentives $97,337,470 Servicers Incentives TARP Incentive Payments Continued on next page $309,559,668 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 393 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($3,902,818) ($9,350,000) ($36,560,000) ($17,170,000) ($136,207) ($20,570,000) ($260,000) ($400,000) ($1,585,532) ($70,000) ($3,099,444) ($7,900,000) ($2,480,000) ($1,022,008) ($240,000) ($260,000) ($1,200,000) ($120,415,077) ($90,000) ($32,040,000) ($45,741,813) $80,000 ($180,258,444) ($180,000) ($42,755,476) ($57,116,228) ($42,653,357) ($134,493,339) ($161,526,035) Adjustment Date 12/23/2013 1/16/2014 2/13/2014 3/14/2014 3/26/2014 4/16/2014 5/15/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 9/16/2014 9/29/2014 10/16/2014 11/14/2014 12/16/2014 12/29/2014 1/15/2015 2/13/2015 3/26/2015 4/16/2015 4/28/2015 6/16/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/4/2016 $309,559,668 $471,085,703 $605,579,042 $648,232,399 $705,348,627 $748,104,103 $748,284,103 $928,542,547 $928,462,547 $974,204,360 $1,006,244,360 $1,006,334,360 $1,126,749,437 $1,127,949,437 $1,128,209,437 $1,128,449,437 $1,129,471,445 $1,131,951,445 $1,139,851,445 $1,142,950,889 $1,143,020,889 $1,144,606,421 $1,145,006,421 $1,145,266,421 $1,165,836,421 $1,165,972,628 $1,183,142,628 $1,219,702,628 $1,229,052,628 Adjusted CAP Termination of SPA Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 394 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution ORNL Federal Credit Union, Oak Ridge, TN Date 9/11/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $2,070,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($10) ($12) ($115) ($86) ($236) ($40) ($149) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 ($56) $1,817,613 9/30/2010 ($20) ($33,979) ($1,192) ($14,049) ($27,888) ($9,230) ($1,104,824) ($416,543) ($1,600,867) ($379,686) ($508,298) ($376,180) ($1,091,210) ($22,798) 6/27/2013 $13,280,000 ($13,540,000) 12/30/2009 7/14/2010 $2,730,000 10/2/2009 3/26/2010 $460,000 Adjustment Date 9/27/2013 12/23/2013 3/26/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 $1,230,145 $1,252,943 $2,344,153 $2,720,333 $3,228,631 $3,608,317 $5,209,184 $5,625,727 $6,730,551 $6,739,781 $6,767,669 $6,781,718 $6,782,910 $6,816,889 $6,816,909 $6,816,965 $6,817,114 $6,817,154 $6,817,390 $6,817,476 $6,817,591 $6,817,603 $6,817,613 $5,000,000 $18,540,000 $5,260,000 $2,530,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $38,373 Borrower’s Incentives $55,618 Lenders/ Investors Incentives $61,036 Servicers Incentives TARP Incentive Payments Continued on next page $155,028 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 395 Purchase Purchase Name of Institution OwnersChoice Funding, Inc. (CUC Mortgage Corporation), Albany, NY Park View Federal Savings Bank, Solon, OH Date 9/9/2009 12/16/2009 Transaction Type $4,350,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * $760,000 Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans Financial Instrument for Home Loan Modifications N/A N/A 6 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($107) ($18) ($69) ($26) ($9) ($15,739) ($554) ($6,538) ($12,989) ($4,292) ($498,170) ($183,056) ($704,893) ($167,093) ($224,207) ($150,962) ($466,555) ($9,753) $40,000 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 12/23/2013 3/26/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 1/22/2010 ($1) ($12) ($10) ($816,373) 3/30/2011 6/29/2011 6/28/2012 9/14/2012 ($1) 1/6/2011 $70,334 ($38) 6/28/2012 9/30/2010 ($52) 6/29/2011 $140,000 ($6) 3/30/2011 ($140,000) ($5) 1/6/2011 7/14/2010 ($6,673,610) 9/30/2010 3/26/2010 $740,000 ($1,440,000) 12/30/2009 7/14/2010 $5,700,000 10/2/2009 3/26/2010 $950,000 Adjustment Date $53,937 $870,310 $870,320 $870,332 $870,333 $870,334 $800,000 $940,000 $800,000 $1,181,259 $1,191,012 $1,657,567 $1,808,529 $2,032,736 $2,199,829 $2,904,722 $3,087,778 $3,585,948 $3,590,240 $3,603,229 $3,609,767 $3,610,321 $3,626,060 $3,626,069 $3,626,095 $3,626,164 $3,626,182 $3,626,289 $3,626,327 $3,626,379 $3,626,385 $3,626,390 $10,300,000 $11,740,000 $11,000,000 $5,300,000 Adjusted CAP Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $11,000 $116,918 Borrower’s Incentives $23,937 $217,708 Lenders/ Investors Incentives $19,000 $115,529 Servicers Incentives TARP Incentive Payments Continued on next page $53,937 $450,156 Total TARP Incentive Payments 396 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Name of Institution Pathfinder Bank, Oswego, NY PennyMac Loan Services, LLC, Calasbasa, CA Date 8/25/2010 8/12/2009 Transaction Type $1,300,000 $6,210,000 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($6) ($58) ($43) ($119) ($20) ($76) ($29) ($10) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 ($612) $2,600,000 ($100,000) $200,000 8/13/2010 9/15/2010 9/30/2010 ($1,423,197) $6,680,000 7/16/2010 1/13/2011 ($94) ($100,000) $5,800,000 $600,000 ($812) 3/30/2011 4/13/2011 5/13/2011 6/16/2011 6/29/2011 ($100,000) $4,100,000 1/6/2011 $4,000,000 ($72) 12/15/2010 3/16/2011 ($100,000) 11/16/2010 2/16/2011 $1,400,000 9/30/2010 ($18,020,000) 7/14/2010 2/25/2016 $2,710,000 ($574,396) 12/28/2015 $23,200,000 ($198,838) 9/28/2015 6/16/2010 ($265,281) 6/25/2015 3/26/2010 ($197,512) 4/28/2015 $30,800,000 ($828,966) 3/26/2015 12/30/2009 ($211,377) 12/29/2014 ($11,998) ($563,436) 9/29/2014 ($1,200,000) ($4,742) 7/29/2014 9/30/2009 ($14,356) 6/26/2014 3/28/2016 ($7,228) 3/26/2014 ($17,421) ($5) 9/30/2010 12/23/2013 $2,181,334 Adjustment Date $67,255,825 $67,256,637 $66,656,637 $60,856,637 $60,956,637 $60,956,731 $56,956,731 $57,056,731 $52,956,731 $52,956,803 $53,056,803 $51,656,803 $53,080,000 $52,880,000 $52,980,000 $50,380,000 $43,700,000 $61,720,000 $59,010,000 $35,810,000 $5,010,000 $584,805 $596,803 $1,171,199 $1,370,037 $1,635,318 $1,832,830 $2,661,796 $2,873,173 $3,436,609 $3,441,351 $3,455,707 $3,462,935 $3,463,547 $3,480,968 $3,480,978 $3,481,007 $3,481,083 $3,481,103 $3,481,222 $3,481,265 $3,481,323 $3,481,329 $3,481,334 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Reason for Adjustment Adjustment Details $11,073,158 $8,417 Borrower’s Incentives $38,245,249 $17,091 Lenders/ Investors Incentives $13,788,345 $33,307 Servicers Incentives TARP Incentive Payments Continued on next page $63,106,752 $58,815 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 397 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 $200,000 $1,900,000 1/13/2012 3/15/2012 ($7) $4,450,000 $15,826,215 $5,130,000 ($2,390,000) $2,017,426 ($10,000) $2,360,000 $5,959,201 $10,000 $3,708,381 $150,000 ($2,610,000) ($7,217) ($25,090,000) $20,000 $16,799,847 $20,000 $2,467,104 $3,210,000 $1,404,045 ($3,370,000) $3,380,000 $2,364,052 $450,000 10/15/2013 12/23/2013 2/13/2014 3/14/2014 3/26/2014 5/15/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 9/16/2014 9/29/2014 10/16/2014 11/14/2014 12/29/2014 2/13/2015 3/26/2015 4/16/2015 4/28/2015 5/14/2015 6/16/2015 6/25/2015 7/16/2015 ($506) ($128) $2,980,000 2/14/2013 3/25/2013 6/27/2013 ($154) 12/27/2012 9/27/2013 $3,860,000 12/14/2012 $2,160,000 $1,800,000 10/16/2012 $2,440,000 ($974) 9/27/2012 4/16/2013 $890,000 8/16/2012 6/14/2013 ($340) $2,930,000 6/28/2012 7/16/2012 $200,000 $800,000 12/15/2011 $1,340,000 $900,000 11/16/2011 6/14/2012 $300,000 10/14/2011 4/16/2012 $2,500,000 $2,800,000 7/14/2011 9/15/2011 CAP Adjustment Amount Adjustment Date $131,502,770 $131,052,770 $128,688,718 $125,308,718 $128,678,718 $127,274,673 $124,064,673 $121,597,569 $121,577,569 $104,777,722 $104,757,722 $129,847,722 $129,854,939 $132,464,939 $132,314,939 $128,606,558 $128,596,558 $122,637,357 $120,277,357 $120,287,357 $118,269,931 $120,659,931 $115,529,931 $99,703,716 $95,253,716 $95,253,723 $95,253,851 $92,813,851 $90,653,851 $90,654,357 $87,674,357 $87,674,511 $83,814,511 $82,014,511 $82,015,485 $81,125,485 $78,195,485 $78,195,825 $76,855,825 $76,655,825 $74,755,825 $74,555,825 $73,755,825 $72,855,825 $72,555,825 $69,755,825 Adjusted CAP Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 398 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Name of Institution PHH Mortgage Corporation, Mt. Laurel, NJ Plaza Home Mortgage, Inc, San Diego , CA Date 9/15/2011 11/14/2013 Transaction Type $0 $0 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A 3 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $4,078,670 ($5,430,455) $20,000 ($125,261) $1,300,000 ($15) ($42) $140,000 ($8) ($30) ($11) $5,850,000 ($20) ($34,545) 9/28/2015 12/28/2015 2/25/2016 3/16/2016 3/28/2016 9/15/2011 6/28/2012 9/27/2012 10/16/2012 12/27/2012 3/25/2013 6/27/2013 7/16/2013 9/27/2013 12/23/2013 ($382,420) ($10,000) ($512,596) ($387,831) ($1,134,993) ($23,709) 6/25/2015 8/14/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 7/16/2014 $20,000 $10,000 ($1,601,860) 4/28/2015 11/14/2013 ($406,380) 3/26/2015 $30,000 $10,000 $1,663,748 $1,687,457 $2,822,450 $3,210,281 $3,722,877 $3,732,877 $4,115,297 $5,717,157 $6,123,537 $7,201,745 ($9,436) ($1,078,208) 9/29/2014 12/29/2014 $7,211,181 ($28,561) 7/29/2014 $7,239,742 ($14,371) $7,254,113 $7,255,329 $7,289,874 $7,289,894 $1,439,894 $1,439,905 $1,439,935 $1,439,943 $1,299,943 $1,299,985 $1,300,000 $141,068,531 $141,193,792 $141,173,792 $146,604,247 $142,525,577 $135,912,770 Adjusted CAP 6/26/2014 ($1,216) $6,612,807 8/14/2015 3/26/2014 $4,410,000 Adjustment Date Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $9,917 $160,766 Borrower’s Incentives $0 $140,057 Lenders/ Investors Incentives $3,000 $71,400 Servicers Incentives TARP Incentive Payments Continued on next page $12,917 $372,222 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 399 Name of Institution PNC Bank, National Association, Pittsburgh, PA Date 7/17/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $54,470,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $23,076,191 ($123) ($147) ($100,000) ($1,382) ($300,000) ($1,003) ($2,745) 9/30/2010 1/6/2011 3/30/2011 5/13/2011 6/29/2011 10/14/2011 6/28/2012 9/27/2012 ($656) ($234) ($394,926) ($13,845) ($162,401) ($322,480) ($106,405) ($12,871,888) ($4,826,204) ($19,002,914) ($4,501,445) ($5,972,171) ($4,421,272) ($12,807,238) ($268,339) 6/27/2013 12/23/2013 3/26/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 4/9/2013 9/27/2013 ($1,740) $60,000 3/25/2013 ($460) $35,500,000 9/30/2010 12/27/2012 $2,470,000 ($17,180,000) 12/30/2009 3/26/2010 $19,280,000 9/30/2009 7/14/2010 ($36,240,000) Adjustment Date $15,356,173 $15,624,512 $28,431,750 $32,853,022 $38,825,193 $43,326,638 $62,329,552 $67,155,756 $80,027,644 $80,134,049 $80,456,529 $80,618,930 $80,632,775 $81,027,701 $81,027,935 $81,028,591 $80,968,591 $80,970,331 $80,970,791 $80,973,536 $80,974,539 $81,274,539 $81,275,921 $81,375,921 $81,376,068 $81,376,191 $58,300,000 $22,800,000 $39,980,000 $37,510,000 $18,230,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to merger/acquisition Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $368,000 Borrower’s Incentives $2,054,396 Lenders/ Investors Incentives $757,500 Servicers Incentives TARP Incentive Payments Continued on next page $3,179,896 Total TARP Incentive Payments 400 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution PNC Bank, National Association (successor to National City Bank), Miamisburg, OH Date 6/26/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $294,980,000 N/A Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($18,690,000) ($272,640,000) $80,600,000 $71,230,004 ($828) $200,000 ($100,000) ($981) ($2,300,000) ($200,000) ($200,000) ($9,197) $300,000 ($300,000) $200,000 ($100,000) $200,000 ($10,000) ($6,771) ($18,467) ($3,105) ($11,713) ($4,393) ($1,565) ($2,622,925) $7,680,000 ($92,836) ($1,090,169) ($2,140,858) ($940,000) ($704,516) $10,000 ($1,380,000) ($81,896,499) ($840,000) ($30,405,344) ($109,179,651) ($25,425,688) ($33,194,831) ($30,000) ($2,810,000) ($24,862,414) ($75,905,149) ($1,587,446) 9/30/2010 9/30/2010 1/6/2011 2/16/2011 3/16/2011 3/30/2011 4/13/2011 5/13/2011 6/16/2011 6/29/2011 10/14/2011 11/16/2011 1/13/2012 2/16/2012 3/15/2012 6/14/2012 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 12/23/2013 3/14/2014 3/26/2014 6/26/2014 7/29/2014 8/14/2014 9/29/2014 10/16/2014 11/14/2014 12/29/2014 3/16/2015 3/26/2015 4/28/2015 6/25/2015 9/28/2015 10/15/2015 11/16/2015 12/28/2015 2/25/2016 3/28/2016 12/30/2009 7/14/2010 $90,280,000 9/30/2009 3/26/2010 $315,170,000 Adjustment Date $171,144,658 $172,732,104 $248,637,253 $273,499,667 $276,309,667 $276,339,667 $309,534,498 $334,960,186 $444,139,837 $474,545,181 $475,385,181 $557,281,680 $558,661,680 $558,651,680 $559,356,196 $560,296,196 $562,437,054 $563,527,223 $563,620,059 $555,940,059 $558,562,984 $558,564,549 $558,568,942 $558,580,655 $558,583,760 $558,602,227 $558,608,998 $558,618,998 $558,418,998 $558,518,998 $558,318,998 $558,618,998 $558,318,998 $558,328,195 $558,528,195 $558,728,195 $561,028,195 $561,029,176 $561,129,176 $560,929,176 $560,930,004 $489,700,000 $409,100,000 $681,740,000 $700,430,000 $610,150,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $17,630,399 Borrower’s Incentives $18,906,330 Lenders/ Investors Incentives $11,166,145 Servicers Incentives TARP Incentive Payments Continued on next page $47,702,875 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 401 Purchase Purchase Name of Institution PrimeWest Mortgage Corporation, Lubbock, TX Purdue Federal Credit Union (Purdue Employees Federal Credit Union), West Lafayette, IN Date 3/15/2012 7/29/2009 Transaction Type Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $1,090,000 $0 N/A N/A 3 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 $100,000 CAP Adjustment Amount ($1,691) ($673) 9/29/2014 3/28/2016 ($2,039) 7/29/2014 ($80,972) ($1,027) 6/26/2014 2/25/2016 ($87) 3/26/2014 ($28,353) ($2,474) 12/23/2013 12/28/2015 ($1) 9/27/2013 ($38,312) ($4) 6/27/2013 9/28/2015 ($11) 3/25/2013 ($28,680) ($3) 12/27/2012 6/25/2015 ($17) 9/27/2012 ($120,932) ($6) 6/28/2012 4/28/2015 ($8) 6/29/2011 ($81,582) ($1) 3/30/2011 ($30,682) ($1) 1/6/2011 3/26/2015 $180,222 9/30/2010 12/29/2014 $2,070,000 ($3,960,000) 12/30/2009 7/14/2010 $1,260,000 9/30/2009 3/26/2010 ($60,000) 3/15/2012 Adjustment Date $162,666 $164,357 $245,329 $273,682 $311,994 $340,674 $461,606 $492,288 $573,870 $574,543 $576,582 $577,609 $577,696 $580,170 $580,171 $580,175 $580,186 $580,189 $580,206 $580,212 $580,220 $580,221 $580,222 $400,000 $4,360,000 $2,290,000 $1,030,000 $100,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $5,000 $0 Borrower’s Incentives $3,844 $0 Lenders/ Investors Incentives $4,000 $0 Servicers Incentives TARP Incentive Payments Continued on next page $12,844 $0 Total TARP Incentive Payments 402 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution QLending, Inc., Coral Gables, FL Date 11/18/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $20,000 N/A Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($7,654) ($2,879) ($11,347) ($2,691) ($3,595) ($2,660) ($7,597) ($159) 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 12/23/2013 ($63) ($232) 3/25/2013 9/29/2014 ($1) 9/27/2012 ($191) ($2) 6/28/2012 7/29/2014 ($1) 6/29/2011 ($8) ($1) 9/30/2010 ($96) $45,056 7/14/2010 3/26/2014 $90,000 3/26/2010 6/26/2014 ($10,000) Adjustment Date $105,879 $106,038 $113,635 $116,295 $119,890 $122,581 $133,928 $136,807 $144,461 $144,524 $144,715 $144,811 $144,819 $145,051 $145,052 $145,054 $145,055 $145,056 $100,000 $10,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Reason for Adjustment Adjustment Details $0 Borrower’s Incentives $0 Lenders/ Investors Incentives $0 Servicers Incentives TARP Incentive Payments Continued on next page $0 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 403 Purchase Purchase Purchase Name of Institution Quantum Servicing Corporation, Tampa, FL Quicken Loans Inc, Detroit, MI RBC Bank (USA), Raleigh, NC Date 11/18/2009 12/14/2012 9/1/2010 Transaction Type $18,960,000 $0 $100,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A 9 3 6 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $100,000 $100,000 $800,000 ($559) $300,000 4/13/2011 5/13/2011 6/16/2011 6/29/2011 7/14/2011 $10,000 ($96) ($20,000) ($162,518) ($31,540,186) $10,000 7/16/2013 9/27/2013 11/14/2013 12/23/2013 2/27/2014 12/14/2012 $30,000 $45,056 $34,944 1/15/2015 9/30/2010 1/6/2011 $50,000 ($200,000) ($10,000) ($60,000) 6/29/2011 $40,000 $10,000 5/15/2014 3/30/2011 $10,000 3/14/2014 $10,000 ($268) 6/27/2013 8/15/2013 ($707) ($240,000) 3/25/2013 ($187) 12/27/2012 4/16/2013 ($980,000) 11/15/2012 $35,489,401 ($1,184) ($1,910,000) ($428) 6/28/2012 9/27/2012 $330,000 6/14/2012 10/16/2012 $35,490,585 $100,000 1/13/2012 3/15/2012 6/14/2012 4/9/2013 $0 $60,000 $70,000 $270,000 $220,000 $180,000 $145,056 $70,000 $60,000 $50,000 $20,000 $10,000 $645,439 $32,185,625 $32,348,143 $32,368,143 $32,368,239 $32,358,239 $32,358,507 $32,598,507 $32,599,214 $32,599,401 $33,579,401 $35,491,013 $35,161,013 $35,061,013 $100,000 9/15/2011 $34,961,013 $34,761,013 $34,461,013 $34,461,572 $33,661,572 $33,561,572 $33,461,572 $33,461,630 $200,000 ($58) $32,061,630 8/16/2011 $1,400,000 2/16/2011 3/30/2011 $30,461,630 ($46) $1,600,000 1/6/2011 1/13/2011 $30,461,676 $9,661,676 9/30/2010 $20,800,000 $23,690,000 $3,840,000 ($2,890,000) $19,850,000 3/26/2010 1/22/2010 Adjusted CAP 7/14/2010 $890,000 Adjustment Date Termination of SPA Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Termination of SPA Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $0 $9,917 $133,393 Borrower’s Incentives $0 $0 $332,061 Lenders/ Investors Incentives $0 $7,000 $179,984 Servicers Incentives TARP Incentive Payments Continued on next page $0 $16,917 $645,439 Total TARP Incentive Payments 404 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Residential Credit Solutions, Inc., Fort Worth, TX Date 6/12/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $19,400,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($37) $100,000 ($329) ($1,900,000) $2,800,000 $420,000 $8,060,000 3/30/2011 4/13/2011 6/29/2011 9/15/2011 11/16/2011 5/16/2012 6/14/2012 ($178) 12/27/2012 $3,190,000 $20,000 11/15/2012 $6,910,000 ($1,050,000) ($173,584) $1,310,000 ($2,210,000) ($1,390,000) ($5,632) ($220,000) $940,000 ($640,000) ($63,739) $1,000,000 ($128,318) ($2,700,000) 10/15/2013 12/16/2013 12/23/2013 1/16/2014 2/13/2014 3/14/2014 3/26/2014 4/16/2014 5/15/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 ($101) ($264) 6/27/2013 9/27/2013 $20,000 6/14/2013 $6,080,000 $100,000 4/16/2013 5/16/2013 ($2,130,000) $1,330,000 3/25/2013 7/16/2013 ($713) 3/14/2013 9/16/2013 ($260,000) 2/14/2013 ($911) $5,690,000 9/27/2012 10/16/2012 ($313) ($34) 1/6/2011 $2,160,000 $586,954 9/30/2010 6/28/2012 $400,000 9/30/2010 7/16/2012 ($1,390,000) ($13,870,000) 12/30/2009 7/14/2010 $27,920,000 9/30/2009 3/26/2010 ($1,860,000) Adjustment Date $58,442,801 $61,142,801 $61,271,119 $60,271,119 $60,334,858 $60,974,858 $60,034,858 $60,254,858 $60,260,490 $61,650,490 $63,860,490 $62,550,490 $62,724,074 $63,774,074 $56,864,074 $56,864,175 $58,994,175 $52,914,175 $52,914,439 $52,894,439 $52,794,439 $51,464,439 $51,465,152 $51,725,152 $48,535,152 $48,535,330 $48,515,330 $42,825,330 $42,826,241 $40,666,241 $40,666,554 $32,606,554 $32,186,554 $29,386,554 $31,286,554 $31,286,883 $31,186,883 $31,186,920 $31,186,954 $30,600,000 $30,200,000 $44,070,000 $45,460,000 $17,540,000 Adjusted CAP Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $6,537,623 Borrower’s Incentives $10,844,453 Lenders/ Investors Incentives $4,612,103 Servicers Incentives TARP Incentive Payments Continued on next page $21,994,178 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 405 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $570,000 $350,000 ($936,320) ($40,000) $10,000 ($300,000) ($999,808) $290,000 ($120,000) ($250,000) ($660,712) ($3,250,000) ($3,134,539) ($2,070,000) ($86,358) 5/14/2015 6/16/2015 6/25/2015 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 11/16/2015 12/16/2015 12/28/2015 2/16/2016 2/25/2016 3/16/2016 3/28/2016 2/13/2015 ($4,012,710) $1,300,000 1/15/2015 4/28/2015 ($270,000) 12/29/2014 ($10,000) ($3,041,582) 12/16/2014 4/16/2015 ($780,000) 11/14/2014 ($140,000) $40,000 10/16/2014 ($1,134,415) $690,000 9/29/2014 3/26/2015 ($37,047) 9/16/2014 3/16/2015 ($2,860,000) Adjustment Date $37,559,310 $37,645,668 $39,715,668 $42,850,207 $46,100,207 $46,760,919 $47,010,919 $47,130,919 $46,840,919 $47,840,727 $48,140,727 $48,130,727 $48,170,727 $49,107,047 $48,757,047 $48,187,047 $52,199,757 $52,209,757 $53,344,172 $53,484,172 $52,184,172 $52,454,172 $55,495,754 $56,275,754 $56,235,754 $55,545,754 $55,582,801 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 406 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Resurgent Capital Solutions L.P., Greenville, SC Date 6/14/2012 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $0 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A 3, 15 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 ($50) $880,000 9/27/2013 10/15/2013 $6,610,000 $18,624,873 $5,780,000 7/16/2013 ($197,950) ($56,740,004) $488,713 ($800,680) 9/16/2014 9/29/2014 11/3/2014 7/16/2014 7/29/2014 ($96,715) $1,310,000 6/26/2014 $1,990,000 $1,720,000 5/15/2014 6/16/2014 ($7,186) $2,370,000 $1,460,000 3/14/2014 4/16/2014 $23,920,000 2/13/2014 3/26/2014 ($118,329) $1,770,000 1/16/2014 12/16/2013 12/23/2013 $20,000 11/14/2013 $18,624,923 ($96) 6/27/2013 $3,202,722 $4,003,402 $3,514,689 $60,254,693 $60,452,643 $59,142,643 $59,239,358 $57,519,358 $55,529,358 $53,159,358 $53,166,544 $51,706,544 $27,786,544 $26,016,544 $26,134,873 $26,114,873 $19,504,873 $12,844,923 $12,845,019 $11,855,019 $11,235,019 $11,235,238 $990,000 $1,390,000 3/14/2013 $9,845,238 6/14/2013 $8,690,000 2/14/2013 $1,155,238 ($219) $10,000 1/16/2013 $1,145,238 $1,145,239 $620,000 ($1) 3/25/2013 ($3) 9/27/2012 12/27/2012 $1,145,242 $940,000 Adjusted CAP 5/16/2013 $940,000 $205,242 6/14/2012 6/28/2012 CAP Adjustment Amount Adjustment Date Termination of SPA Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $708,326 Borrower’s Incentives $1,696,731 Lenders/ Investors Incentives $797,665 Servicers Incentives TARP Incentive Payments Continued on next page $3,202,722 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 407 Purchase Purchase Purchase Name of Institution RG Mortgage Corporation, San Juan, PR Roebling Bank, Roebling, NJ RoundPoint Mortgage Servicing Corporation, Charlotte , NC Date 6/17/2009 1/13/2010 8/28/2009 Transaction Type $57,000,000 $240,000 $570,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A 6 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($4,459,154) ($4,300,000) ($51) ($65) ($616) 9/30/2010 12/15/2010 1/6/2011 3/30/2011 6/29/2011 ($462) ($8,860,000) 7/14/2010 ($6,518) ($77,004) ($152,943) ($50,520) ($30,000) ($35,740,763) $610,000 3/26/2014 6/26/2014 7/29/2014 9/29/2014 10/16/2014 11/3/2014 3/26/2010 ($29,666) $2,110,000 $8,300,000 $5,301,172 ($22) ($400,000) ($25) 12/30/2009 3/26/2010 7/14/2010 9/30/2010 1/6/2011 3/16/2011 3/30/2011 ($479) ($350,000) ($82) ($308) $80,000 9/27/2012 11/15/2012 12/27/2012 3/25/2013 4/16/2013 ($232) ($310,000) 10/2/2009 ($174) $130,000 3/23/2011 6/29/2011 ($870,333) 1/6/2011 6/28/2012 ($1) 9/30/2010 $50,000 ($185,423) 12/23/2013 7/14/2010 ($306) ($110) 6/27/2013 9/27/2013 ($214) ($812) 3/25/2013 9/27/2012 12/27/2012 ($1,270) 6/28/2012 $65,640,000 ($14,470,000) 12/30/2009 4/9/2010 ($42,210,000) 9/30/2009 3/26/2010 ($11,300,000) Adjustment Date $15,429,850 $15,349,850 $15,350,158 $15,350,240 $15,700,240 $15,700,719 $15,700,893 $15,701,125 $15,701,150 $16,101,150 $16,101,172 $10,800,000 $2,500,000 $390,000 $700,000 $0 $870,333 $870,334 $900,000 $850,000 $793,769 $36,534,532 $36,564,532 $36,615,052 $36,767,995 $36,844,999 $36,851,517 $37,036,940 $37,037,050 $37,037,356 $37,038,168 $37,038,382 $37,039,652 $37,040,114 $37,040,730 $37,040,795 $37,040,846 $41,340,846 $45,800,000 $54,660,000 $69,130,000 $3,490,000 $45,700,000 Adjusted CAP Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Termination of SPA Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Termination of SPA Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $461,616 $0 $164,853 Borrower’s Incentives $1,015,897 $0 $227,582 Lenders/ Investors Incentives $649,138 $0 $401,334 Servicers Incentives TARP Incentive Payments Continued on next page $2,126,650 $0 $793,769 Total TARP Incentive Payments 408 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Rushmore Loan Management Services LLC, Irvine, CA Date 12/15/2011 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $0 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $190,000 ($67,286) $520,000 $10,000 ($30,000) ($2,463) ($20,000) ($28,873) $480,000 ($59,055) $360,000 ($19,992) $530,000 ($120,000) ($2,352,678) ($891,303) ($3,450,733) ($50,000) ($822,251) $20,000 ($1,064,251) $10,000 ($732,290) $50,000 $10,000 ($2,314,829) $200,000 ($55,575) $200,000 $600,000 ($3) $110,000 ($13) 12/16/2013 12/23/2013 1/16/2014 2/13/2014 3/14/2014 3/26/2014 4/16/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 9/29/2014 10/16/2014 12/16/2014 12/29/2014 3/26/2015 4/28/2015 5/14/2015 6/25/2015 8/14/2015 9/28/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 12/15/2011 4/16/2012 6/28/2012 8/16/2012 9/27/2012 $1,270,000 ($40) 9/27/2013 $230,000 ($5) $990,000 $600,000 $1,980,000 ($77) $340,000 10/16/2012 $30,000 $640,000 6/27/2013 9/16/2013 ($108) 6/14/2013 7/16/2013 $20,000 Adjustment Date 11/15/2012 12/27/2012 1/16/2013 2/14/2013 3/14/2013 3/25/2013 4/16/2013 $6,319,902 $5,979,902 $5,979,979 $3,999,979 $3,399,979 $2,409,979 $2,409,984 $2,179,984 $909,984 $909,997 $799,997 $800,000 $200,000 $6,418,123 $6,473,698 $6,273,698 $8,588,527 $8,578,527 $8,528,527 $9,260,817 $9,250,817 $10,315,068 $10,295,068 $11,117,319 $11,167,319 $14,618,052 $15,509,355 $17,862,033 $17,982,033 $17,452,033 $17,472,025 $17,112,025 $17,171,080 $16,691,080 $16,719,953 $16,739,953 $16,742,416 $16,772,416 $16,762,416 $16,242,416 $16,309,702 $16,119,702 $16,119,742 $15,479,742 $15,449,742 $15,449,850 Adjusted CAP Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $13,299,469 Borrower’s Incentives $13,998,601 Lenders/ Investors Incentives $3,007,768 Servicers Incentives TARP Incentive Payments Continued on next page $30,305,837 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 409 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 $270,000 ($69,974) $4,040,000 $1,670,000 ($27,982) $13,870,000 $8,350,000 $2,520,000 ($1,524,773) $2,220,000 $980,000 $140,000 ($1,062,455) ($2,050,000) ($3,536,729) $210,000 $8,540,000 ($1,665,379) $2,050,000 $10,390,000 $5,300,000 ($3,202,247) ($1,260,000) $100,000 $350,000 ($2,075,474) $250,000 $2,170,000 ($9,768,061) $5,500,000 ($347,014) 7/16/2014 7/29/2014 8/14/2014 9/16/2014 9/29/2014 10/16/2014 11/14/2014 12/16/2014 12/29/2014 1/15/2015 2/13/2015 3/16/2015 3/26/2015 4/16/2015 4/28/2015 5/14/2015 6/16/2015 6/25/2015 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 $4,440,000 4/16/2014 ($35,305) ($2,090) 3/26/2014 6/26/2014 $50,000 3/14/2014 $60,000 $10,000 1/16/2014 $380,000 ($60,644) 12/23/2013 6/16/2014 $1,330,000 12/16/2013 5/15/2014 $19,140,000 11/14/2013 $13,149,823 ($26) $10,000 9/16/2013 9/27/2013 ($53) $2,570,000 6/27/2013 10/15/2013 $13,149,849 $2,740,000 6/14/2013 $80,801,696 $81,148,710 $75,648,710 $85,416,771 $83,246,771 $82,996,771 $85,072,245 $84,722,245 $84,622,245 $85,882,245 $89,084,492 $83,784,492 $73,394,492 $71,344,492 $73,009,871 $64,469,871 $64,259,871 $67,796,600 $69,846,600 $70,909,055 $70,769,055 $69,789,055 $67,569,055 $69,093,828 $66,573,828 $58,223,828 $44,353,828 $44,381,810 $42,711,810 $38,671,810 $38,741,784 $38,471,784 $38,507,089 $38,127,089 $38,067,089 $33,627,089 $33,629,179 $33,579,179 $33,569,179 $33,629,823 $32,299,823 $13,159,823 $10,579,849 $10,579,902 $7,839,902 $1,520,000 5/16/2013 Adjusted CAP CAP Adjustment Amount Adjustment Date Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 410 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Saxon Mortgage Services, Inc., Irving, TX Date 4/13/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $407,000,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A 10 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $1,800,000 $9,800,000 $116,222,668 $100,000 $8,900,000 ($556) $2,300,000 $700,000 ($654) $2,100,000 9/15/2010 9/30/2010 9/30/2010 10/15/2010 12/15/2010 1/6/2011 1/13/2011 3/16/2011 3/30/2011 4/13/2011 ($6,144) $619,542,668 ($22,980,000) 7/16/2010 $200,000 ($100,000) ($700,000) $17,500,000 ($100,000) $100,000 ($17,500,000) ($760,000) ($354,290,000) ($1,831) ($10,120,000) ($10,000) ($4,701) ($9,220,000) ($30,000) $60,000 ($788) ($610,000) ($2,979) ($157,237,929) 6/29/2011 $503,320,000 ($513,660,000) 7/14/2010 7/14/2011 8/16/2011 9/15/2011 12/15/2011 2/16/2012 3/15/2012 4/16/2012 5/16/2012 6/14/2012 6/28/2012 7/16/2012 8/16/2012 9/27/2012 10/16/2012 11/15/2012 12/14/2012 12/27/2012 1/16/2013 3/25/2013 4/9/2013 $100,807,086 $258,045,015 $258,047,994 $258,657,994 $258,658,782 $258,598,782 $258,628,782 $267,848,782 $267,853,483 $267,863,483 $277,983,483 $277,985,314 $632,275,314 $633,035,314 $650,535,314 $650,435,314 $650,535,314 $633,035,314 $633,735,314 $633,835,314 $633,635,314 $633,641,458 $631,541,458 $631,542,112 $630,842,112 $628,542,112 $628,542,668 $619,642,668 $493,520,000 $491,720,000 $514,700,000 $1,028,360,000 $1,184,410,000 $1,242,130,000 ($57,720,000) 12/30/2009 $886,420,000 ($156,050,000) $355,710,000 9/30/2009 $632,040,000 6/16/2010 $254,380,000 6/17/2009 Adjusted CAP 3/26/2010 $225,040,000 Adjustment Date Termination of SPA Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Reason for Adjustment Adjustment Details $19,655,075 Borrower’s Incentives $41,738,413 Lenders/ Investors Incentives $39,413,598 Servicers Incentives TARP Incentive Payments Continued on next page $100,807,086 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 411 Name of Institution Schools Financial Credit Union, Sacramento, CA Date 9/23/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $390,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($2) ($2) ($22) ($16) ($44) ($7) ($28) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 ($11) $1,150,556 9/30/2010 ($4) ($6,411) ($225) ($2,661) ($5,285) ($1,746) ($201,817) ($76,420) ($301,210) ($71,460) ($95,514) ($70,705) ($210,262) ($4,392) 6/27/2013 ($980,000) ($140,000) 12/30/2009 3/26/2010 $940,000 10/2/2009 7/14/2010 $90,000 Adjustment Date 9/27/2013 12/23/2013 3/26/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 $402,312 $406,704 $616,966 $687,671 $783,185 $854,645 $1,155,855 $1,232,275 $1,434,092 $1,435,838 $1,441,123 $1,443,784 $1,444,009 $1,450,420 $1,450,424 $1,450,435 $1,450,463 $1,450,470 $1,450,514 $1,450,530 $1,450,552 $1,450,554 $1,450,556 $300,000 $440,000 $1,420,000 $480,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $45,667 Borrower’s Incentives $80,657 Lenders/ Investors Incentives $39,500 Servicers Incentives TARP Incentive Payments Continued on next page $165,823 Total TARP Incentive Payments 412 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Scotiabank de Puerto Rico, San Juan, PR SEFCU, Albany, NY Select Portfolio Servicing, Inc., Salt Lake City, UT 12/15/2010 9/25/2009 4/13/2009 Purchase Name of Institution Date Transaction Type $0 $440,000 $376,000,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($5) ($23) ($63) ($11) ($41) ($16) ($6) ($9,679) 1/6/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 12/23/2013 ($260,119) ($63,179) ($87,785) ($65,988) ($298,593) ($6,237) $100,000 $20,000 ($290,000) ($70,000) ($54,944) ($1) ($145,055) $284,590,000 $121,910,000 $131,340,000 ($355,530,000) $128,690,000 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 10/2/2009 12/30/2009 3/26/2010 7/14/2010 9/30/2010 6/29/2011 4/11/2012 6/12/2009 9/30/2009 12/30/2009 3/26/2010 7/14/2010 $4,000,000 ($65,464) 3/26/2015 ($700,000) $64,400,000 ($639) ($2,300,000) $100,000 $3,600,000 12/15/2010 1/6/2011 1/13/2011 2/16/2011 3/16/2011 9/30/2010 11/16/2010 $59,807,784 9/30/2010 ($163,461) 12/29/2014 $815,907,145 $812,307,145 $812,207,145 $814,507,145 $814,507,784 $750,107,784 $750,807,784 $691,000,000 $687,000,000 $558,310,000 $913,840,000 $782,500,000 $660,590,000 $0 $145,055 $145,056 $200,000 $270,000 $560,000 $540,000 $3,294,079 $3,300,316 $3,598,909 $3,664,897 $3,752,682 $3,815,861 $4,075,980 $4,141,444 $4,304,905 $4,274,905 ($2,690) $30,000 9/29/2014 10/16/2014 $4,277,595 ($8,126) 7/29/2014 $4,285,721 ($4,087) $4,289,808 $4,290,152 $4,299,831 $4,299,837 $4,299,853 $4,299,894 $4,299,905 $4,299,968 $4,299,991 $4,299,996 $4,300,000 Adjusted CAP 6/26/2014 ($344) ($4) 12/15/2010 3/26/2014 $4,300,000 Adjustment Date Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Termination of SPA Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $247,649,156 $0 $1,350,278 Borrower’s Incentives $388,710,306 $0 $831,258 Lenders/ Investors Incentives $204,115,497 $0 $417,009 Servicers Incentives TARP Incentive Payments Continued on next page $840,474,959 $0 $2,598,545 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 413 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 ($735) ($100,000) $400,000 ($100,000) ($6,805) ($100,000) ($200,000) ($100,000) ($100,000) $200,000 $24,800,000 $1,900,000 $80,000 $8,710,000 ($5,176) $2,430,000 $2,310,000 ($13,961) $126,940,000 $9,990,000 $10,650,000 ($2,663) $18,650,000 $10,290,000 $4,320,000 ($10,116) $840,000 $1,330,000 $3,620,000 ($3,564) $105,080,000 $10,000 $98,610,000 ($1,541) $1,280,000 $15,130,000 $6,290,000 ($2,481,777) $1,580,000 $75,350,000 $16,900,000 ($85,696) $12,470,000 $20,960,000 $14,220,000 ($1,023,387) 3/30/2011 4/13/2011 5/13/2011 6/16/2011 6/29/2011 8/16/2011 9/15/2011 10/14/2011 11/16/2011 1/13/2012 3/15/2012 4/16/2012 5/16/2012 6/14/2012 6/28/2012 7/16/2012 8/16/2012 9/27/2012 10/16/2012 11/15/2012 12/14/2012 12/27/2012 1/16/2013 2/14/2013 3/14/2013 3/25/2013 4/16/2013 5/16/2013 6/14/2013 6/27/2013 7/16/2013 8/15/2013 9/16/2013 9/27/2013 10/15/2013 11/14/2013 12/16/2013 12/23/2013 1/16/2014 2/13/2014 3/14/2014 3/26/2014 4/16/2014 5/15/2014 6/16/2014 6/26/2014 CAP Adjustment Amount Adjustment Date $1,406,911,724 $1,407,935,111 $1,393,715,111 $1,372,755,111 $1,360,285,111 $1,360,370,807 $1,343,470,807 $1,268,120,807 $1,266,540,807 $1,269,022,584 $1,262,732,584 $1,247,602,584 $1,246,322,584 $1,246,324,125 $1,147,714,125 $1,147,704,125 $1,042,624,125 $1,042,627,689 $1,039,007,689 $1,037,677,689 $1,036,837,689 $1,036,847,805 $1,032,527,805 $1,022,237,805 $1,003,587,805 $1,003,590,468 $992,940,468 $982,950,468 $856,010,468 $856,024,429 $853,714,429 $851,284,429 $851,289,605 $842,579,605 $842,499,605 $840,599,605 $815,799,605 $815,599,605 $815,699,605 $815,799,605 $815,999,605 $816,099,605 $816,106,410 $816,206,410 $815,806,410 $815,906,410 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 414 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Selene Finance LP, Houston, TX Date 6/16/2010 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $0 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($42,210,000) $7,420,000 ($540,365) $57,410,000 $1,490,000 $3,740,000 $6,991,378 $10,630,000 $4,120,000 ($900,000) $71,365,159 $710,000 $36,897,540 $3,890,000 $34,620,000 $41,497,746 ($16,430,000) $3,520,000 $10,280,000 $87,496,640 ($16,640,000) ($260,000) $45,960,000 $43,906,188 $24,710,000 $2,670,000 ($47,775,866) ($1,310,000) ($194,564) $3,680,000 $3,300,000 $3,043,831 $1,400,000 ($17) $2,100,000 7/29/2014 8/14/2014 9/16/2014 9/29/2014 10/16/2014 11/14/2014 12/16/2014 12/29/2014 1/15/2015 2/13/2015 3/16/2015 3/26/2015 4/16/2015 4/28/2015 5/14/2015 6/16/2015 6/25/2015 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 6/16/2010 8/13/2010 9/30/2010 10/15/2010 1/6/2011 3/16/2011 $2,900,000 ($273) $100,000 $1,100,000 $200,000 $10,000 ($300,000) 6/29/2011 11/16/2011 4/16/2012 5/16/2012 6/14/2012 6/16/2011 10/14/2011 ($200,000) 4/13/2011 ($24) ($1,968,183) 7/16/2014 3/30/2011 $12,690,000 Adjustment Date $17,333,517 $17,633,517 $17,623,517 $17,423,517 $16,323,517 $16,223,517 $16,223,790 $16,423,790 $13,523,790 $13,523,814 $11,423,814 $11,423,831 $10,023,831 $6,980,000 $3,680,000 $1,790,697,397 $1,790,891,961 $1,792,201,961 $1,839,977,827 $1,837,307,827 $1,812,597,827 $1,768,691,639 $1,722,731,639 $1,722,991,639 $1,739,631,639 $1,652,134,999 $1,641,854,999 $1,638,334,999 $1,654,764,999 $1,613,267,253 $1,578,647,253 $1,574,757,253 $1,537,859,713 $1,537,149,713 $1,465,784,554 $1,466,684,554 $1,462,564,554 $1,451,934,554 $1,444,943,176 $1,441,203,176 $1,439,713,176 $1,382,303,176 $1,382,843,541 $1,375,423,541 $1,417,633,541 $1,419,601,724 Adjusted CAP Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated portfolio data from servicer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $2,153,604 Borrower’s Incentives $1,387,711 Lenders/ Investors Incentives $2,152,468 Servicers Incentives TARP Incentive Payments Continued on next page $5,693,783 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 415 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 ($4,478,535) $10,000 $20,000 ($1,844,353) $2,860,000 ($8,202,554) $30,000 ($1,996,581) $7,610,000 12/29/2014 1/15/2015 3/16/2015 3/26/2015 4/16/2015 4/28/2015 6/16/2015 6/25/2015 8/14/2015 ($226,478) $30,000 12/16/2014 3/28/2016 ($52,910) 9/29/2014 ($220,000) $11,650,000 9/16/2014 ($11,934,020) $2,480,000 8/14/2014 3/16/2016 ($142,594) 7/29/2014 2/25/2016 $23,490,000 7/16/2014 $1,250,000 ($36,971) 6/26/2014 2/16/2016 $30,000 4/16/2014 ($10,000) ($3,125) 3/26/2014 1/14/2016 $10,000 3/14/2014 ($3,752,790) ($88,613) 12/23/2013 12/28/2015 ($52) 9/27/2013 $90,000 $170,000 7/16/2013 12/16/2015 ($146) 6/27/2013 $1,150,000 ($30,000) 5/16/2013 11/16/2015 ($384) 3/25/2013 $3,760,000 $90,000 3/14/2013 10/15/2015 ($102) 12/27/2012 $370,000 $70,000 11/15/2012 ($4,239,474) ($600) 9/27/2012 9/28/2015 $480,000 8/16/2012 9/16/2015 ($218) $40,000 6/28/2012 7/16/2012 CAP Adjustment Amount Adjustment Date $35,763,017 $35,989,495 $36,209,495 $48,143,515 $46,893,515 $46,903,515 $50,656,305 $50,566,305 $49,416,305 $45,656,305 $49,895,779 $49,525,779 $41,915,779 $43,912,360 $43,882,360 $52,084,914 $49,224,914 $51,069,267 $51,049,267 $51,039,267 $55,517,802 $55,487,802 $55,540,712 $43,890,712 $41,410,712 $41,553,306 $18,063,306 $18,100,277 $18,070,277 $18,073,402 $18,063,402 $18,152,015 $18,152,067 $17,982,067 $17,982,213 $18,012,213 $18,012,597 $17,922,597 $17,922,699 $17,852,699 $17,853,299 $17,373,299 $17,333,299 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 416 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Seneca Mortgage Servicing LLC (AMS Servicing, LLC), Buffalo, NY Date 9/23/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $4,390,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $290,000 $10,000 ($220) ($60,000) $50,000 $10,000 ($79) ($90,000) $310,000 ($28) $230,000 $120,000 $460,000 ($49,413) $40,000 ($260,000) ($1,697) $100,000 $30,000 ($20,009) ($39,741) ($40,000) $70,000 2/14/2013 3/14/2013 3/25/2013 4/16/2013 5/16/2013 6/14/2013 6/27/2013 7/16/2013 9/16/2013 9/27/2013 10/15/2013 11/14/2013 12/16/2013 12/23/2013 1/16/2014 3/14/2014 3/26/2014 4/16/2014 6/16/2014 6/26/2014 7/29/2014 8/14/2014 9/16/2014 ($136) 6/28/2012 $20,000 $650,000 6/14/2012 1/16/2013 $1,100,000 4/16/2012 ($59) $100,000 11/16/2011 12/27/2012 $100,000 9/15/2011 ($10,000) ($153) 6/29/2011 12/14/2012 $100,000 5/13/2011 $30,000 $200,000 4/13/2011 11/15/2012 ($16) 3/30/2011 ($347) $600,000 3/16/2011 $250,000 ($12) 1/6/2011 9/27/2012 $323,114 9/30/2010 10/16/2012 $230,000 $5,310,000 12/30/2009 7/14/2010 ($3,090,000) 10/2/2009 3/26/2010 $960,000 Adjustment Date $12,421,204 $12,351,204 $12,391,204 $12,430,945 $12,450,954 $12,420,954 $12,320,954 $12,322,651 $12,582,651 $12,542,651 $12,592,064 $12,132,064 $12,012,064 $11,782,064 $11,782,092 $11,472,092 $11,562,092 $11,562,171 $11,552,171 $11,502,171 $11,562,171 $11,562,391 $11,552,391 $11,262,391 $11,242,391 $11,242,450 $11,252,450 $11,222,450 $10,972,450 $10,972,797 $10,972,933 $10,322,933 $9,222,933 $9,122,933 $9,022,933 $9,023,086 $8,923,086 $8,723,086 $8,723,102 $8,123,102 $8,123,114 $7,800,000 $2,490,000 $2,260,000 $5,350,000 Adjusted CAP Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $276,388 Borrower’s Incentives $342,294 Lenders/ Investors Incentives $206,291 Servicers Incentives TARP Incentive Payments Continued on next page $824,973 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 417 Name of Institution Servis One, Inc. dba BSI Financial Services, Titusville, PA Date 8/12/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $29,730,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 Adjusted CAP ($1,446,220) ($280,000) ($70,000) ($1,970,000) ($563,340) ($20,000) ($1,823,241) $160,000 ($60,000) ($427,170) $330,000 $80,000 $140,000 ($561,929) $40,000 $580,000 $230,000 ($486,283) $1,080,000 $500,000 ($2,321,321) $330,000 ($54,203) ($25,510,000) $520,000 $4,330,000 $230,000 $850,000 ($850,000) $100,000 12/29/2014 1/15/2015 2/13/2015 3/16/2015 3/26/2015 4/16/2015 4/28/2015 5/14/2015 6/16/2015 6/25/2015 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 9/30/2009 12/30/2009 3/26/2010 4/19/2010 5/19/2010 7/14/2010 9/15/2010 $16,755,064 $1,000,000 $100,000 3/16/2011 5/13/2011 $2,200,000 2/16/2011 6/16/2011 $100,000 1/13/2011 ($52) $300,000 1/6/2011 $1,500,000 ($40) 12/15/2010 4/13/2011 $100,000 10/15/2010 3/30/2011 $100,000 9/30/2010 $100,000 ($10,000) 9/30/2010 ($13,236) 9/29/2014 12/16/2014 $31,654,972 $31,554,972 $30,554,972 $29,054,972 $29,055,024 $26,855,024 $26,755,024 $26,455,024 $26,455,064 $26,355,064 $26,255,064 $9,500,000 $9,400,000 $9,300,000 $10,150,000 $9,300,000 $9,070,000 $4,740,000 $4,220,000 $5,784,261 $5,838,464 $5,508,464 $7,829,785 $7,329,785 $6,249,785 $6,736,068 $6,506,068 $5,926,068 $5,886,068 $6,447,997 $6,307,997 $6,227,997 $5,897,997 $6,325,167 $6,385,167 $6,225,167 $8,048,408 $8,068,408 $8,631,748 $10,601,748 $10,671,748 $10,951,748 $12,397,968 $12,407,968 CAP Adjustment Amount Adjustment Date Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reason for Adjustment Adjustment Details $9,100,620 Borrower’s Incentives $9,654,879 Lenders/ Investors Incentives $3,426,891 Servicers Incentives TARP Incentive Payments Continued on next page $22,182,391 Total TARP Incentive Payments 418 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 ($60,000) $1,620,000 5/16/2013 6/14/2013 ($135) $270,000 $30,000 $9,960,000 ($239,727) $2,090,000 $2,450,000 ($130,000) ($8,837) $60,000 ($460,000) $920,000 ($103,723) ($205,396) $4,050,000 $420,000 9/27/2013 11/14/2013 12/16/2013 12/23/2013 1/16/2014 2/13/2014 3/14/2014 3/26/2014 4/16/2014 5/15/2014 6/16/2014 6/26/2014 7/29/2014 8/14/2014 9/16/2014 9/16/2013 10/15/2013 $10,000 $2,600,000 8/15/2013 ($359) $410,000 4/16/2013 $2,030,000 ($960) 6/27/2013 $1,920,000 3/14/2013 3/25/2013 7/16/2013 $210,000 $1,790,000 2/14/2013 ($239) 12/27/2012 1/16/2013 $1,160,000 12/14/2012 $1,560,000 6/14/2012 $1,340,000 ($1,080,000) 5/16/2012 11/15/2012 $800,000 $2,100,000 $1,100,000 3/15/2012 4/16/2012 10/16/2012 $1,300,000 2/16/2012 ($1,272) $100,000 1/13/2012 9/27/2012 $200,000 12/15/2011 ($465) $600,000 11/16/2011 $70,000 $4,000,000 10/14/2011 6/28/2012 ($600,000) 9/15/2011 8/16/2012 ($534) $700,000 6/29/2011 8/16/2011 CAP Adjustment Amount Adjustment Date $74,633,325 $74,213,325 $70,163,325 $70,368,721 $70,472,444 $69,552,444 $70,012,444 $69,952,444 $69,961,281 $70,091,281 $67,641,281 $65,551,281 $65,791,008 $55,831,008 $55,801,008 $55,531,008 $55,531,143 $52,931,143 $52,921,143 $50,891,143 $50,891,502 $49,271,502 $49,331,502 $48,921,502 $48,922,462 $47,002,462 $45,212,462 $45,002,462 $45,002,701 $43,842,701 $42,502,701 $40,402,701 $40,403,973 $40,333,973 $40,334,438 $38,774,438 $39,854,438 $39,054,438 $37,954,438 $36,654,438 $36,554,438 $36,354,438 $35,754,438 $31,754,438 $32,354,438 $31,654,438 Adjusted CAP Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 419 Name of Institution ShoreBank, Chicago, IL Date 7/17/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $1,410,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A 6 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 Adjusted CAP $590,000 ($18,231,781) $2,100,000 4/16/2015 4/28/2015 5/14/2015 $570,000 ($14,691,799) $6,270,000 ($334,912) $890,000 $1,260,000 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 9/30/2009 12/30/2009 ($4) ($3) ($1,100,000) ($38) ($29) ($79) ($13) ($50) ($2,324,244) 3/30/2011 1/6/2011 $471,446 $100,000 12/28/2015 9/30/2010 ($4,760,843) 12/16/2015 ($20,000) $500,000 11/16/2015 ($240,000) $3,700,000 10/15/2015 7/14/2010 $1,040,000 9/28/2015 3/26/2010 ($430,000) ($6,107,608) 9/16/2015 $2,240,000 ($4,671,888) 3/26/2015 8/14/2015 $11,660,000 3/16/2015 $60,000 $11,850,000 2/13/2015 7/16/2015 ($50,000) 1/15/2015 $2,820,000 ($8,713,039) 12/29/2014 ($4,782,922) $4,990,000 12/16/2014 6/16/2015 ($390,000) 11/14/2014 6/25/2015 ($73,587) $7,390,000 9/29/2014 4/13/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 4/9/2013 $346,986 $2,671,230 $2,671,280 $2,671,293 $2,671,372 $2,671,401 $2,671,439 $3,771,439 $3,771,443 $3,771,446 $3,300,000 $3,540,000 $3,560,000 $2,300,000 $67,274,946 $67,609,858 $61,339,858 $76,031,657 $75,461,657 $75,361,657 $80,122,500 $79,622,500 $75,922,500 $74,882,500 $80,990,108 $81,420,108 $79,180,108 $79,120,108 $83,903,030 $81,083,030 $78,983,030 $97,214,811 $96,624,811 $101,296,699 $89,636,699 $77,786,699 $77,836,699 $86,549,738 $81,559,738 $81,949,738 $74,559,738 CAP Adjustment Amount 10/16/2014 Adjustment Date Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reason for Adjustment Adjustment Details $49,915 Borrower’s Incentives $153,906 Lenders/ Investors Incentives $143,165 Servicers Incentives TARP Incentive Payments Continued on next page $346,986 Total TARP Incentive Payments 420 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Purchase Name of Institution Silver State Schools Credit Union, Las Vegas, NV SN Servicing Corporation, Baton Rouge, LA Sound Community Bank, Seattle, WA Date 12/9/2009 10/15/2013 12/16/2009 Transaction Type $1,880,000 $0 $440,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A 3 6 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($2) ($3) 1/6/2011 3/30/2011 4/28/2015 $80,000 $20,000 $160,000 ($260,437) $2,820,000 $990,000 ($716,235) $330,000 ($80,000) ($2,295,159) $1,170,000 ($76,689) $20,000 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 11/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 1/22/2010 $1,430,000 $20,000 6/25/2015 ($390,000) ($1,500,000) 3/26/2010 ($158,664) 6/16/2015 $1,310,000 ($72,818) 3/26/2015 5/14/2015 $90,000 ($18,475) 1/15/2015 ($13,406) 12/29/2014 ($544) 7/29/2014 $60,000 $170,000 7/16/2014 12/16/2014 $10,000 12/16/2013 $20,000 $60,000 10/15/2013 11/14/2014 ($1,889,819) 7/9/2013 ($180) ($15) 6/27/2013 $160,000 ($37) 3/25/2013 9/29/2014 ($10) 10/16/2014 $2,175,725 ($57) 9/27/2012 12/27/2012 7/14/2010 9/8/2010 $0 $1,500,000 $1,890,000 $460,000 $3,777,393 $3,854,082 $2,684,082 $4,979,241 $5,059,241 $4,729,241 $5,445,476 $4,455,476 $1,635,476 $1,895,913 $1,735,913 $1,715,913 $1,695,913 $1,854,577 $1,774,577 $464,577 $537,395 $555,870 $465,870 $479,276 $419,276 $399,276 $239,276 $239,456 $240,000 $70,000 $60,000 $285,844 $2,175,663 $2,175,678 $2,175,715 $2,175,782 ($21) 6/28/2012 $2,175,803 $2,175,829 $2,175,832 $2,175,834 ($26) $275,834 9/30/2010 $1,900,000 $3,080,000 $1,970,000 Adjusted CAP 6/29/2011 $1,110,000 ($1,180,000) 7/14/2010 1/22/2010 3/26/2010 $90,000 Adjustment Date Termination of SPA Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $0 $45,674 $40,356 Borrower’s Incentives $0 $109,630 $176,299 Lenders/ Investors Incentives $0 $43,842 $69,189 Servicers Incentives TARP Incentive Payments Continued on next page $0 $199,146 $285,844 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 421 Name of Institution Specialized Loan Servicing LLC, Highlands Ranch, CO Date 1/13/2010 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $64,150,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $700,000 $200,000 ($1,695,826) $200,000 ($32) $1,500,000 $7,100,000 ($36) $1,000,000 $100,000 $300,000 ($332) $100,000 $300,000 $300,000 ($1,700,000) $1,600,000 8/13/2010 9/15/2010 9/30/2010 11/16/2010 1/6/2011 1/13/2011 3/16/2011 3/30/2011 4/13/2011 5/13/2011 6/16/2011 6/29/2011 8/16/2011 9/15/2011 10/14/2011 12/15/2011 1/13/2012 $100,000 $330,000 7/16/2010 $40,000 ($350,000) ($1,058) $4,430,000 ($1,280,000) ($3,061) $5,600,000 $880,000 $24,180,000 ($663) $2,410,000 $6,650,000 ($1,450,000) ($2,584) ($750,000) ($1,250,000) $3,670,000 ($985) ($3,720,000) ($180,000) ($346) 6/28/2012 7/16/2012 8/16/2012 9/27/2012 10/16/2012 11/15/2012 12/14/2012 12/27/2012 1/16/2013 2/14/2013 3/14/2013 3/25/2013 4/16/2013 5/16/2013 6/14/2013 6/27/2013 7/16/2013 9/16/2013 9/27/2013 4/16/2012 6/14/2012 $77,600,000 3/15/2012 5/16/2012 $100,000 2/16/2012 $4,860,000 $3,630,000 5/14/2010 6/16/2010 $3,000,000 3/26/2010 7/14/2010 ($51,240,000) Adjustment Date $151,405,077 $151,405,423 $151,585,423 $155,305,423 $155,306,408 $151,636,408 $152,886,408 $153,636,408 $153,638,992 $155,088,992 $148,438,992 $146,028,992 $146,029,655 $121,849,655 $120,969,655 $115,369,655 $115,372,716 $116,652,716 $112,222,716 $112,223,774 $112,573,774 $112,533,774 $34,933,774 $34,833,774 $34,733,774 $33,133,774 $34,833,774 $34,533,774 $34,233,774 $34,133,774 $34,134,106 $33,834,106 $33,734,106 $32,734,106 $32,734,142 $25,634,142 $24,134,142 $24,134,174 $23,934,174 $25,630,000 $25,430,000 $24,730,000 $24,400,000 $20,770,000 $15,910,000 $12,910,000 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated portfolio data from servicer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Reason for Adjustment Adjustment Details $34,528,471 Borrower’s Incentives $57,156,775 Lenders/ Investors Incentives $33,132,886 Servicers Incentives TARP Incentive Payments Continued on next page $124,818,132 Total TARP Incentive Payments 422 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 $860,000 ($410,000) ($10,160,000) ($381,129) $8,200,000 $21,910,000 $300,000 ($10,851) $4,470,000 ($28,460,000) $4,680,000 ($57,511) $16,450,000 ($115,275) $230,000 ($4,270,000) ($27,454) $540,000 $52,945,861 ($520,000) $12,630,000 $11,890,000 $1,352,322 $1,050,000 $4,448,221 $7,170,000 $18,070,000 $18,792,626 $14,500,000 $1,710,000 ($390,000) $10,523,228 $3,450,000 $970,000 ($210,000) $6,558,413 $25,010,000 $2,470,000 ($13,592,686) $1,040,000 ($174,419) 10/15/2013 11/14/2013 12/16/2013 12/23/2013 1/16/2014 2/13/2014 3/14/2014 3/26/2014 4/16/2014 5/15/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 9/16/2014 9/29/2014 11/14/2014 12/29/2014 1/15/2015 2/13/2015 3/16/2015 3/26/2015 4/16/2015 4/28/2015 5/14/2015 6/16/2015 6/25/2015 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 CAP Adjustment Amount Adjustment Date $344,846,423 $345,020,842 $343,980,842 $357,573,528 $355,103,528 $330,093,528 $323,535,115 $323,745,115 $322,775,115 $319,325,115 $308,801,887 $309,191,887 $307,481,887 $292,981,887 $274,189,261 $256,119,261 $248,949,261 $244,501,040 $243,451,040 $242,098,718 $230,208,718 $217,578,718 $218,098,718 $165,152,857 $164,612,857 $164,640,311 $168,910,311 $168,680,311 $168,795,586 $152,345,586 $152,403,097 $147,723,097 $176,183,097 $171,713,097 $171,723,948 $171,423,948 $149,513,948 $141,313,948 $141,695,077 $151,855,077 $152,265,077 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 423 Purchase Purchase Purchase Name of Institution Spirit of Alaska Federal Credit Union, Fairbanks, AK Stanford Federal Credit Union, Palo Alto, CA Statebridge Company, LLC, Denver, CO Date 12/9/2009 8/28/2009 12/15/2010 Transaction Type $360,000 $300,000 $0 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $850,000 3/26/2010 $100,000 ($1,305,498) $70,000 1/6/2011 2/17/2011 10/2/2009 $350,000 ($290,111) $5,000,000 ($7) $500,000 $100,000 ($9) ($85) ($2,500,000) $200,000 ($40) ($100) $170,000 ($30,000) ($80,000) ($17) 9/30/2010 3/23/2011 12/15/2010 1/6/2011 2/16/2011 3/16/2011 3/30/2011 6/29/2011 11/16/2011 3/15/2012 6/28/2012 9/27/2012 10/16/2012 11/15/2012 12/14/2012 12/27/2012 ($90) ($10,000) ($34) ($13) $60,000 ($21,773) ($20,000) $60,000 ($30,000) ($770) ($8,978) $150,000 ($18,319) $330,000 4/16/2013 6/27/2013 9/27/2013 11/14/2013 12/23/2013 1/16/2014 2/13/2014 3/14/2014 3/26/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 $90,000 3/14/2013 3/25/2013 $1,240,000 2/14/2013 $50,000 ($1,209,889) 7/14/2010 1/16/2013 ($1,900,000) 3/26/2010 $2,680,000 ($2) 9/30/2010 12/30/2009 $105,500 9/30/2010 ($120,000) 1/22/2010 7/14/2010 $10,000 Adjustment Date $5,229,765 $4,899,765 $4,918,084 $4,768,084 $4,777,062 $4,777,832 $4,807,832 $4,747,832 $4,767,832 $4,789,605 $4,729,605 $4,729,618 $4,729,652 $4,739,652 $4,739,742 $4,649,742 $3,409,742 $3,359,742 $3,359,759 $3,439,759 $3,469,759 $3,299,759 $3,299,859 $3,299,899 $3,099,899 $5,599,899 $5,599,984 $5,599,993 $5,499,993 $4,999,993 $5,000,000 $0 $290,111 $1,500,000 $3,400,000 $3,050,000 $370,000 $0 $1,305,498 $1,305,500 $1,200,000 $1,100,000 $1,220,000 $370,000 Adjusted CAP Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Termination of SPA Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Termination of SPA Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $123,540 $0 $0 Borrower’s Incentives $277,428 $0 $0 Lenders/ Investors Incentives $116,410 $0 $0 Servicers Incentives TARP Incentive Payments Continued on next page $517,378 $0 $0 Total TARP Incentive Payments 424 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution Sterling Savings Bank, Spokane, WA Date 12/9/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $2,250,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $1,310,000 $5,780,000 ($2,009,472) ($20,000) ($759,640) ($2,994,140) $30,000 ($711,743) $160,000 $90,000 ($969,232) $680,000 $40,000 $550,000 ($816,550) ($2,359,857) $980,000 ($72,124) $100,000 ($740,000) ($710,000) $550,556 ($1) ($1) ($11) $30,907 $58,688 $235,175 $84,191 $13,786 9/29/2014 10/16/2014 12/16/2014 12/29/2014 3/16/2015 3/26/2015 4/28/2015 6/16/2015 6/25/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 11/16/2015 12/16/2015 12/28/2015 2/25/2016 3/16/2016 3/28/2016 1/22/2010 3/26/2010 7/14/2010 9/30/2010 1/6/2011 3/30/2011 6/29/2011 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 ($35) ($7,084) 9/16/2014 $12,095 $122,307 $22,184 $24,565 $581,882 ($1,034) ($4,285) ($6,530) ($11,773) ($11,798) ($130,663) ($2,930) 12/23/2013 $510,000 Adjustment Date 3/26/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 $2,467,275 $2,470,205 $2,600,868 $2,612,666 $2,624,439 $2,630,969 $2,635,254 $2,636,288 $2,054,406 $2,029,841 $2,007,657 $1,885,350 $1,873,255 $1,873,290 $1,859,504 $1,775,313 $1,540,138 $1,481,450 $1,450,543 $1,450,554 $1,450,555 $1,450,556 $900,000 $1,610,000 $2,350,000 $4,639,923 $4,712,047 $3,732,047 $6,091,904 $6,908,454 $6,358,454 $6,318,454 $5,638,454 $6,607,686 $6,517,686 $6,357,686 $7,069,429 $7,039,429 $10,033,569 $10,793,209 $10,813,209 $12,822,681 $7,042,681 $5,732,681 $5,739,765 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $372,881 Borrower’s Incentives $655,433 Lenders/ Investors Incentives $404,197 Servicers Incentives TARP Incentive Payments Continued on next page $1,432,511 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 425 Purchase Purchase Purchase Name of Institution Stockman Bank of Montana, Miles City, MT Suburban Mortgage Company of New Mexico, Albuquerque, NM Sun West Mortgage Company, Inc, Cerritos CA Date 9/30/2010 8/4/2010 1/13/2012 Transaction Type $100,000 $880,000 $0 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($1) ($2) ($1) ($232) ($8) ($96) 6/29/2011 6/28/2012 9/27/2012 3/25/2013 12/23/2013 3/26/2014 6/26/2014 ($191) ($1) 9/30/2010 ($2,879) ($11,347) ($2,691) ($3,595) ($2,660) ($7,597) ($159) $1,585,945 ($4) ($4) ($40) ($30) ($2,465,867) 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 9/30/2010 1/6/2011 3/30/2011 6/29/2011 6/28/2012 8/10/2012 $100,000 ($7,654) 9/29/2014 1/13/2012 ($63) 7/29/2014 $45,056 Adjustment Date $100,000 $0 $2,465,867 $2,465,897 $2,465,937 $2,465,941 $2,465,945 $105,879 $106,038 $113,635 $116,295 $119,890 $122,581 $133,928 $136,807 $144,461 $144,524 $144,715 $144,811 $144,819 $145,051 $145,052 $145,054 $145,055 $145,056 Adjusted CAP Transfer of cap due to servicing transfer Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Reason for Adjustment Adjustment Details $0 $0 $0 Borrower’s Incentives $0 $0 $0 Lenders/ Investors Incentives $0 $0 $0 Servicers Incentives TARP Incentive Payments Continued on next page $0 $0 $0 Total TARP Incentive Payments 426 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution SunTrust Mortgage, Inc., Richmond, VA Date 4/13/2011 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $0 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 $10,000 ($670) $20,000 $90,000 $50,000 ($38) $60,000 ($486) $70,000 7/16/2013 12/23/2013 1/16/2014 2/13/2014 3/14/2014 3/26/2014 4/16/2014 6/26/2014 7/16/2014 $30,000 ($358) ($28,730) ($20,000) ($10,741) ($42,369) ($14,001) ($20,000) ($20,248) ($14,985) $2,040,000 $250,500 $140,000 $4,517 8/14/2014 ($989) $229,999 ($1) 6/27/2013 7/29/2014 $219,999 $120,000 6/14/2013 9/29/2014 12/29/2014 2/13/2015 3/26/2015 4/28/2015 6/25/2015 8/14/2015 9/28/2015 12/28/2015 1/14/2016 2/25/2016 3/16/2016 3/28/2016 $2,811,401 $2,806,884 $2,666,884 $2,416,384 $376,384 $391,369 $411,617 $431,617 $445,618 $487,987 $498,728 $518,728 $547,458 $547,816 $517,816 $518,805 $448,805 $449,291 $389,291 $389,329 $339,329 $249,329 $229,329 $220,000 $100,000 $100,000 4/13/2011 Adjusted CAP CAP Adjustment Amount Adjustment Date Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $391,734 Borrower’s Incentives $380,888 Lenders/ Investors Incentives $214,376 Servicers Incentives TARP Incentive Payments Continued on next page $986,998 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 427 Purchase Purchase Purchase Name of Institution Technology Credit Union, San Jose, CA Tempe Schools Credit Union, Tempe, AZ The Bryn Mawr Trust Co., Bryn Mawr, PA Date 6/26/2009 12/23/2009 12/11/2009 Transaction Type $70,000 $110,000 $150,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($430,000) $60,445 ($1) ($1) ($12) ($9) ($23) ($4) ($13) 3/26/2010 7/14/2010 9/30/2010 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 ($2) ($784) ($82,551) ($32,953) ($123,650) ($30,757) ($42,234) ($33,352) ($126,159) ($2,635) ($20,000) 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 3/26/2010 $10,000 ($2,373) 7/29/2014 12/8/2010 6/16/2011 $100,000 ($150,000) ($145,056) 9/30/2010 4/21/2010 $45,056 7/14/2010 ($101) ($1,195) 6/26/2014 12/23/2013 3/26/2014 ($2,729) 9/27/2013 ($5) ($720,000) 12/30/2009 6/27/2013 $2,180,000 Adjustment Date $100,000 $0 $0 $145,056 $100,000 $90,000 $678,902 $681,537 $807,696 $841,048 $883,282 $914,039 $1,037,689 $1,070,642 $1,153,193 $1,153,977 $1,156,350 $1,157,545 $1,157,646 $1,160,375 $1,160,377 $1,160,382 $1,160,395 $1,160,399 $1,160,422 $1,160,431 $1,160,443 $1,160,444 $1,160,445 $1,100,000 $1,530,000 $2,250,000 Adjusted CAP Transfer of cap due to servicing transfer Termination of SPA Termination of SPA Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $29,316 $0 $96,333 Borrower’s Incentives $18,316 $0 $256,678 Lenders/ Investors Incentives $8,436 $0 $81,817 Servicers Incentives TARP Incentive Payments Continued on next page $56,068 $0 $434,828 Total TARP Incentive Payments 428 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Name of Institution The Golden 1 Credit Union, Sacramento, CA The Provident Bank, Jersey City, NJ Date 12/9/2009 10/16/2014 Transaction Type $6,160,000 $0 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($4) ($4) ($35) ($9) ($14) ($2) ($8) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 ($4) $606,612 9/30/2010 $20,590 $1,125,205 ($5,668) ($7,804) ($7,282) ($6,050) ($13,076) ($214,916) ($4,496) 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 $20,000 ($16) 7/29/2014 10/16/2014 ($84) ($302) 12/23/2013 6/26/2014 ($2,412) 9/27/2013 3/26/2014 ($1) 6/27/2013 $40,000 ($2,890,000) 7/14/2010 1/22/2010 3/26/2010 $290,000 Adjustment Date $20,000 $5,090,220 $5,094,716 $5,309,632 $5,322,708 $5,328,758 $5,336,040 $5,343,844 $5,349,512 $4,224,307 $4,203,717 $4,203,733 $4,204,035 $4,204,119 $4,206,531 $4,206,532 $4,206,536 $4,206,544 $4,206,546 $4,206,560 $4,206,569 $4,206,604 $4,206,608 $4,206,612 $3,600,000 $6,490,000 $6,450,000 Adjusted CAP Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $0 $623,787 Borrower’s Incentives $0 $1,567,831 Lenders/ Investors Incentives $0 $755,587 Servicers Incentives TARP Incentive Payments Continued on next page $0 $2,947,205 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 429 Name of Institution U.S. Bank National Association, Owensboro, KY Date 9/9/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $114,220,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($160) ($172) ($1,431) ($746) ($1,926) ($308) ($1,135) ($418) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 ($212,077) ($71,209) ($125,785) ($39,094) $26,402,243 $337,594 $50,708,179 $20,000 $1,999,564 $2,168,165 ($10,000) $1,002,694 ($11,290,848) ($180,000) ($208,622) 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/16/2015 6/25/2015 9/28/2015 11/16/2015 12/28/2015 2/25/2016 3/16/2016 3/28/2016 3/26/2014 6/26/2014 ($6,391) 12/23/2013 ($139) $36,574,444 9/30/2010 9/27/2013 $41,830,000 ($85,780,000) 12/30/2009 7/14/2010 $49,410,000 10/2/2009 3/26/2010 $24,920,000 Adjustment Date $251,662,422 $251,871,044 $252,051,044 $263,341,892 $262,339,198 $262,349,198 $260,181,033 $258,181,469 $258,161,469 $207,453,290 $207,115,696 $180,713,453 $180,752,547 $180,878,332 $180,949,541 $180,955,932 $181,168,009 $181,168,148 $181,168,566 $181,169,701 $181,170,009 $181,171,935 $181,172,681 $181,174,112 $181,174,284 $181,174,444 $144,600,000 $230,380,000 $188,550,000 $139,140,000 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $37,966,340 Borrower’s Incentives $50,700,649 Lenders/ Investors Incentives $31,727,441 Servicers Incentives TARP Incentive Payments Continued on next page $120,394,430 Total TARP Incentive Payments 430 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Name of Institution United Bank, Griffin, GA Date 1/29/2010 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $540,000 Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $160,000 $25,278 ($1) ($1) ($11) ($8) ($22) ($4) ($14) ($5) ($2) ($3,221) ($113) ($1,337) ($2,655) ($877) ($106,224) ($39,949) ($20,140) ($5,521) ($14,152) ($10,474) ($58,322) ($1,682) Adjustment Date 3/26/2010 9/30/2010 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 12/23/2013 3/26/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 $460,543 $462,225 $520,547 $531,021 $545,173 $550,694 $570,834 $610,783 $717,007 $717,884 $720,539 $721,876 $721,989 $725,210 $725,212 $725,217 $725,231 $725,235 $725,257 $725,265 $725,276 $725,277 $725,278 $700,000 Adjusted CAP Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Reason for Adjustment Adjustment Details $97,917 Borrower’s Incentives $2,652 Lenders/ Investors Incentives $6,600 Servicers Incentives TARP Incentive Payments Continued on next page $107,169 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 431 Purchase Purchase Name of Institution United Bank Mortgage Corporation, Grand Rapids, MI University First Federal Credit Union, Salt Lake City, UT Date 10/21/2009 9/30/2010 Transaction Type $410,000 $600,000 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($1) ($1) ($5) ($4) ($11) ($2) ($7) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 ($2) $180,222 9/30/2010 ($2,461) ($5,546) ($4,104) ($27,664) ($578) 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 ($870,333) ($10,375) 4/28/2015 2/17/2011 ($12,708) 3/26/2015 ($1) ($33,790) 12/29/2014 $270,334 ($403) 9/29/2014 1/6/2011 ($1,217) 7/29/2014 9/30/2010 ($52) ($613) 12/23/2013 6/26/2014 ($1,471) 9/27/2013 3/26/2014 ($1) 6/27/2013 $400,000 ($430,000) 7/14/2010 1/22/2010 3/26/2010 $20,000 Adjustment Date $0 $870,333 $870,334 $479,206 $479,784 $507,448 $511,552 $517,098 $519,559 $529,934 $542,642 $576,432 $576,835 $578,052 $578,665 $578,717 $580,188 $580,189 $580,191 $580,198 $580,200 $580,211 $580,215 $580,220 $580,221 $580,222 $400,000 $830,000 $430,000 Adjusted CAP Termination of SPA Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $0 $152,901 Borrower’s Incentives $0 $97,619 Lenders/ Investors Incentives $0 $66,578 Servicers Incentives TARP Incentive Payments Continued on next page $0 $317,098 Total TARP Incentive Payments 432 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Purchase Purchase Name of Institution Urban Partnership Bank, Chicago, IL Verity Credit Union, Seattle, WA ViewPoint Bank, Plano, TX VIST Financial Corp, Wyomissing, PA Date 4/13/2011 12/11/2009 5/16/2013 3/10/2010 Transaction Type $0 $600,000 $0 $300,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A N/A 3 3 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $100,000 ($3) ($10) ($2) ($7) ($3) ($1) ($1,744) ($62) ($735) ($1,463) ($498) ($12,100) ($5,115) ($23,199) ($5,527) ($9,641) ($7,135) ($60,672) ($1,267) $30,000 6/29/2011 11/16/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 12/23/2013 3/26/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 1/22/2010 $10,000 $50,000 ($1) ($8) ($22) ($4) ($14) ($5) ($2) ($3,221) ($113) ($721,876) 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 12/23/2013 3/26/2014 4/23/2014 1/6/2011 ($11) ($1) 9/30/2010 6/29/2011 $25,278 7/14/2010 3/30/2011 $400,000 12/16/2013 5/16/2013 $725,277 ($1) ($725,277) 1/6/2011 2/17/2011 $0 $721,876 $721,989 $725,210 $725,212 $725,217 $725,231 $725,235 $725,257 $725,265 $725,276 $725,277 $725,278 $700,000 $60,000 $50,000 $0 $725,278 $25,278 9/30/2010 $700,000 ($330,000) $1,030,000 $630,000 $1,204,084 $1,205,351 $1,266,023 $1,273,158 $1,282,799 $1,288,326 $1,311,525 $1,316,640 $1,328,740 $1,329,238 $1,330,701 $1,331,436 $1,331,498 $1,333,242 $1,333,243 $1,333,246 $1,333,253 $1,333,255 $1,333,265 $1,333,268 $1,233,268 $1,000,000 Adjusted CAP 7/14/2010 $400,000 $233,268 4/13/2011 3/26/2010 $1,000,000 Adjustment Date Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Termination of SPA Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details $0 $0 $0 $329,704 Borrower’s Incentives $0 $1,585 $0 $392,374 Lenders/ Investors Incentives $0 $0 $0 $135,919 Servicers Incentives TARP Incentive Payments Continued on next page $0 $1,585 $0 $857,997 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 433 Purchase Purchase Purchase Purchase Purchase Purchase Name of Institution Wachovia Bank, N.A., Charlotte , NC Wachovia Mortgage, FSB, Des Moines, IA Wealthbridge Mortgage Corp, Beaverton, OR Webster Bank, N.A., Cheshire, CT Webster First Federal Credit Union, Worcester, MA Wells Fargo Bank, NA, Des Moines, IA Date 7/29/2009 7/1/2009 4/14/2010 12/16/2014 2/13/2015 4/13/2009 Transaction Type $85,020,000 $634,010,000 $6,550,000 $0 $0 $2,873,000,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A N/A N/A N/A N/A 3 3 2 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount $9,820,000 ($8,413,225) $723,880,000 9/30/2010 12/3/2010 9/30/2009 $692,640,000 ($28,686,775) 7/14/2010 ($4,352,173) ($5) ($6) ($3,000,000) 9/30/2010 1/6/2011 3/30/2011 4/13/2011 ($7) ($2) ($2,822) ($644,937) 9/27/2013 12/23/2013 2/27/2014 $683,130,000 ($2,038,220,000) ($287,348,828) $344,000,000 9/30/2010 9/30/2010 $668,108,890 3/19/2010 7/14/2010 $54,767 3/12/2010 3/26/2010 $2,050,236,344 2/17/2010 $5,108,351,172 $4,764,351,172 $5,051,700,000 $7,089,920,000 $6,406,790,000 $5,738,681,110 $5,738,626,344 $3,688,390,000 $2,475,080,000 $65,070,000 $1,213,310,000 9/30/2009 12/30/2009 $2,410,010,000 ($462,990,000) 6/17/2009 $20,000 $16,250 $20,000 $6,250 $10,000 $0 $644,937 $647,759 $647,761 $647,766 $647,778 $647,781 $647,800 $647,807 $647,816 $3,647,816 $3,647,822 $3,647,827 $8,000,000 $6,400,000 $238,890 $293,656 $2,050,530,000 $1,357,890,000 $0 $8,413,225 $37,100,000 $83,300,000 $73,480,000 $47,320,000 Adjusted CAP 2/13/2015 12/29/2014 $10,000 ($5) 6/27/2013 12/16/2014 ($3) ($12) 3/25/2013 9/27/2012 12/27/2012 ($19) 6/28/2012 ($9) $1,600,000 9/15/2010 6/29/2011 ($54,767) ($150,000) 7/14/2010 2/17/2010 3/12/2010 ($2,050,236,344) 12/30/2009 ($46,200,000) 3/26/2010 $26,160,000 9/30/2009 12/30/2009 ($37,700,000) Adjustment Date Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Transfer of cap due to merger/acquisition Transfer of cap due to merger/acquisition Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Transfer of cap due to servicing transfer Updated portfolio data from servicer Termination of SPA Transfer of cap due to merger/acquisition Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Termination of SPA Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $577,369,576 $0 $10,000 $0 $0 $0 Borrower’s Incentives $1,183,418,621 $0 $0 $0 $76,890 $0 Lenders/ Investors Incentives $529,496,385 $0 $3,000 $0 $162,000 $0 Servicers Incentives TARP Incentive Payments Continued on next page $2,290,284,582 $0 $13,000 $0 $238,890 $0 Total TARP Incentive Payments 434 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 Adjusted CAP $8,413,225 $22,200,000 ($6,312) ($100,000) ($100,000) ($7,171) ($9,800,000) $100,000 ($600,000) ($63,856) ($2,300,000) ($1,100,000) $1,400,000 $200,000 ($200,000) ($200,000) ($300,000) ($200,000) ($1,000,000) ($800,000) ($610,000) ($2,040,000) ($39,923) ($120,000) ($104,111) ($1,590,000) ($2,910,000) ($1,150,000) ($16,392) ($3,350,000) ($820,000) ($270,000) ($58,709) ($40,000) ($5,320,000) ($1,260,000) ($20,596) ($1,200,000) ($30,000) ($10,760,000) ($6,701) ($780,000) ($60,000) ($860,000) ($10,569,304) ($1,990,000) 12/3/2010 1/6/2011 1/13/2011 3/16/2011 3/30/2011 4/13/2011 5/13/2011 6/16/2011 6/29/2011 7/14/2011 8/16/2011 9/15/2011 10/14/2011 11/16/2011 12/15/2011 1/13/2012 2/16/2012 3/15/2012 4/16/2012 5/16/2012 6/14/2012 6/28/2012 8/16/2012 9/27/2012 10/16/2012 11/15/2012 12/14/2012 12/27/2012 1/16/2013 2/14/2013 3/14/2013 3/25/2013 4/16/2013 5/16/2013 6/14/2013 6/27/2013 7/16/2013 8/15/2013 9/16/2013 9/27/2013 10/15/2013 11/14/2013 12/16/2013 12/23/2013 1/16/2014 $5,077,911,322 $5,079,901,322 $5,090,470,626 $5,091,330,626 $5,091,390,626 $5,092,170,626 $5,092,177,327 $5,102,937,327 $5,102,967,327 $5,104,167,327 $5,104,187,923 $5,105,447,923 $5,110,767,923 $5,110,807,923 $5,110,866,632 $5,111,136,632 $5,111,956,632 $5,115,306,632 $5,115,323,024 $5,116,473,024 $5,119,383,024 $5,120,973,024 $5,121,077,135 $5,121,197,135 $5,121,237,058 $5,123,277,058 $5,123,887,058 $5,124,687,058 $5,125,687,058 $5,125,887,058 $5,126,187,058 $5,126,387,058 $5,126,587,058 $5,126,387,058 $5,124,987,058 $5,126,087,058 $5,128,387,058 $5,128,450,914 $5,129,050,914 $5,128,950,914 $5,138,750,914 $5,138,758,085 $5,138,858,085 $5,138,958,085 $5,138,964,397 $5,116,764,397 CAP Adjustment Amount 12/15/2010 Adjustment Date Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to merger/acquisition Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 435 Date Name of Institution Transaction Type Investment Description Servicer Modifying Borrowers’ Loans Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($170,000) ($80,000) ($358,566) ($4,560,000) ($560,000) ($240,000) ($4,070,420) $250,000 ($8,035,053) $10,000 ($20,000) ($2,607,017) ($150,000) ($20,000) ($2,720,000) ($167,572,118) ($10,000) ($40,000) ($180,000) ($54,309,222) ($4,850,000) ($93,632,400) ($8,530,000) ($16,983,994) ($1,210,000) ($9,870,000) ($4,280,000) ($12,147,919) ($1,560,000) ($2,080,000) ($13,210,000) $42,094,262 ($30,280,000) ($620,000) ($152,559,254) ($620,000) ($2,062,907) Adjustment Date 2/13/2014 3/14/2014 3/26/2014 4/16/2014 5/15/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 9/16/2014 9/29/2014 10/16/2014 11/14/2014 12/16/2014 12/29/2014 1/15/2015 2/13/2015 3/16/2015 3/26/2015 4/16/2015 4/28/2015 5/14/2015 6/25/2015 7/16/2015 8/14/2015 9/16/2015 9/28/2015 10/15/2015 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 $4,520,066,714 $4,522,129,621 $4,522,749,621 $4,675,308,875 $4,675,928,875 $4,706,208,875 $4,664,114,613 $4,677,324,613 $4,679,404,613 $4,680,964,613 $4,693,112,532 $4,697,392,532 $4,707,262,532 $4,708,472,532 $4,725,456,526 $4,733,986,526 $4,827,618,926 $4,832,468,926 $4,886,778,148 $4,886,958,148 $4,886,998,148 $4,887,008,148 $5,054,580,266 $5,057,300,266 $5,057,320,266 $5,057,470,266 $5,060,077,283 $5,060,097,283 $5,060,087,283 $5,068,122,336 $5,067,872,336 $5,071,942,756 $5,072,182,756 $5,072,742,756 $5,077,302,756 $5,077,661,322 $5,077,741,322 Adjusted CAP Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 436 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Purchase Purchase Name of Institution Wescom Central Credit Union, Anaheim, CA Western Federal Credit Union, Hawthorne, CA Date 6/19/2009 4/13/2011 Transaction Type $540,000 $0 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A 3 3, 6 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($14,260,000) ($1,800,000) $1,500,000 $1,551,668 ($2) ($2) ($1,800,000) ($1,872,787) $990,000 12/30/2009 3/26/2010 7/14/2010 7/30/2010 9/30/2010 1/6/2011 3/30/2011 5/13/2011 6/3/2011 6/14/2012 $372,177 $16,490,000 9/30/2009 ($97,095) ($2,337) $200,000 $17,687 ($1) 2/25/2016 3/28/2016 4/13/2011 6/29/2011 9/27/2012 ($240) ($977) ($1,754) ($11,517) ($401) 9/28/2015 2/25/2016 3/28/2016 ($732) 6/25/2015 12/28/2015 ($782) ($3,084) 12/29/2014 3/26/2015 ($2,081) 9/29/2014 4/28/2015 ($79) 7/29/2014 ($10) ($5,747) 12/28/2015 ($121) ($5,008) 9/28/2015 6/26/2014 ($2,058) 6/25/2015 3/26/2014 $217,685 ($2,291) 4/28/2015 ($1) ($24) 3/26/2015 ($290) $465,893 12/29/2014 3/25/2013 ($76) 9/29/2014 12/23/2013 $217,686 ($207) 7/29/2014 $195,617 $196,018 $207,535 $209,289 $210,266 $210,998 $214,082 $214,864 $216,945 $217,024 $217,264 $217,385 $217,395 $217,687 $200,000 $2,391,802 $2,394,139 $2,491,234 $2,496,981 $2,501,989 $2,504,047 $2,506,338 $2,506,362 $2,040,469 $2,040,545 $2,040,752 $2,040,854 ($8) ($102) $2,040,862 6/26/2014 12/23/2013 $2,041,054 $1,668,877 $678,877 $2,551,664 $4,351,664 $4,351,666 $4,351,668 $2,800,000 $1,300,000 $3,100,000 $17,360,000 $870,000 Adjusted CAP 3/26/2014 ($192) 9/27/2012 $330,000 Adjustment Date Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Transfer of cap due to servicing transfer Termination of SPA Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details $31,167 $627,676 Borrower’s Incentives $73,972 $934,522 Lenders/ Investors Incentives $22,917 $312,225 Servicers Incentives TARP Incentive Payments Continued on next page $128,056 $1,874,423 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 437 Purchase Purchase Name of Institution Weststar Mortgage, Inc., Woodbridge, VA Wilshire Credit Corporation, Beaverton, OR Date 9/30/2010 4/20/2009 Transaction Type $100,000 $366,000,000 Financial Instrument for Home Loan Modifications Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans N/A N/A 7 Note (CONTINUED) Pricing Mechanism HAMP TRANSACTION DETAIL, AS OF 3/31/2016 CAP Adjustment Amount ($2,660) ($7,597) ($159) 12/28/2015 2/25/2016 3/28/2016 5/14/2010 ($286,510,000) ($1,880,000) 4/19/2010 $19,540,000 ($210,000) ($100,000) $68,565,782 ($247) ($294) ($2,779) ($162,895,068) 6/16/2010 $52,270,000 ($10,280,000) 3/26/2010 $119,700,000 ($3,595) 9/28/2015 12/30/2009 ($2,691) 6/25/2015 $87,130,000 ($11,347) 4/28/2015 ($249,670,000) ($2,879) 3/26/2015 9/30/2009 ($7,654) 12/29/2014 6/12/2009 ($63) 9/29/2014 12/23/2013 ($191) ($232) 3/25/2013 7/29/2014 ($1) 9/27/2012 ($8) ($2) 6/28/2012 ($96) ($1) 6/29/2011 3/26/2014 ($1) 9/30/2010 6/26/2014 $45,056 Adjustment Date 7/14/2010 7/16/2010 8/13/2010 9/30/2010 1/6/2011 3/30/2011 6/29/2011 10/19/2011 $1,657,394 $164,552,462 $164,555,241 $164,555,535 $164,555,782 $95,990,000 $96,090,000 $96,300,000 $76,760,000 $363,270,000 $365,150,000 $375,430,000 $323,160,000 $203,460,000 $453,130,000 $105,879 $106,038 $113,635 $116,295 $119,890 $122,581 $133,928 $136,807 $144,461 $144,524 $144,715 $144,811 $144,819 $145,051 $145,052 $145,054 $145,055 $145,056 Adjusted CAP Termination of SPA Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Reason for Adjustment Adjustment Details $0 $0 Borrower’s Incentives $490,394 $0 Lenders/ Investors Incentives $1,167,000 $0 Servicers Incentives TARP Incentive Payments Continued on next page $1,657,394 $0 Total TARP Incentive Payments 438 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 Yadkin Valley Bank, Elkin, NC 9/23/2009 Purchase Transaction Type $240,000 $23,831,570,000 Financial Instrument for Home Loan Modifications Total Initial CAP Investment Description Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors (Cap) * N/A Pricing Mechanism CAP Adjustment Amount ($1) ($4) ($3) ($7) ($1) ($5) 1/6/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 ($1) ($33,311) ($12,544) ($50,158) ($8,455) ($11,549) ($9,568) ($48,871) ($1,021) 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 $27,781,923,798 ($333) 9/29/2014 Total CAP ($1,008) 7/29/2014 $3,950,353,798 ($43) ($507) 6/26/2014 12/23/2013 3/26/2014 ($1,174) 9/27/2013 ($2) $235,167 9/30/2010 6/27/2013 $1,360,000 ($1,810,000) 12/30/2009 7/14/2010 $350,000 10/2/2009 3/26/2010 $60,000 Adjustment Date Total CAP Adjustments Note (CONTINUED) $256,601 $257,622 $306,493 $316,061 $327,610 $336,065 $386,223 $398,767 $432,078 $432,411 $433,419 $433,926 $433,969 $435,143 $435,144 $435,146 $435,151 $435,152 $435,159 $435,162 $435,166 $435,167 $200,000 $2,010,000 $650,000 $300,000 Adjusted CAP $3,456,292,958 $37,412 Borrower’s Incentives $7,418,022,991 $38,853 Lenders/ Investors Incentives $3,155,638,571 $51,573 Servicers Incentives TARP Incentive Payments $14,029,954,520 $127,838 Total TARP Incentive Payments Source: Treasury, Transactions Report-Housing Programs, 3/28/2016. * The Cap of Incentive Payments represents the potential total amount allocated to each servicer and includes the maximum amount allotted for all payments on behalf of borrowers and payments to servicers and lenders/investors. The Cap is subject to adjustment based on the total amount allocated to the program and individual servicer usage for borrower modifications. Each adjustment to the Cap is reflected under Adjustment Details. 3 2 1 July 31, 2009, the SPA with Chase Home Finance, LLC was terminated and superseded by new SPAs with J.P. Morgan Chase Bank, NA and EMC Mortgage Corporation. On Wachovia Mortgage, FSB was merged with Wells Fargo Bank, NA, and the remaining Adjusted Cap stated above represents the amount previously paid to Wachovia Mortgage, FSB prior to such merger. This institution executed an Assignment and Assumption Agreement (a copy of which is available on www.FinancialStability.gov) with respect to all rights and obligations for the transferred loan modifications. The amount transferred is realized as a cap adjustment and not as initial cap. 4 8/27/10, an amendment was executed to reflect a change in the legal name of the institution. On 5 MorEquity, Inc executed a subservicing agreement with Nationstar Mortgage, LLC, that took effect 2/1/2011. All mortgage loans including all HAMP loans were transferred to Nationstar. The remaining Adjusted Cap stated above represents the amount previously paid to MorEquity, Inc. prior to such agreement. 6 The remaining Adjusted Cap stated above represents the amount paid to servicer prior to SPA termination. 7 Bank of America, N.A., Home Loan Services, Inc. and Wilshire Credit Corporation were merged into BAC Home Loans Servicing, LP. and the remaining Adjusted Cap stated above represents the amount previously paid to each servicer prior to such merger. 8 April 2011, EMC Mortgage, an indirect subsidiary of JP Morgan Chase & Co, transferred the servicing of all loans to JP Morgan Chase Bank, NA. The remaining Adjusted Cap stated above represents the amount previously paid to EMC Mortgage prior to such transfer. In 9 RBC Bank (USA) was merged with PNC Bank, NA, and the remaining Adjusted Cap stated above represents the amount previously paid to RBC Bank (USA) prior to such merger. 10 July 1, 2012, Saxon Mortgage Services, Inc. ceased servicing operations by selling its mortgage servicing rights and transferring the subservicing relationships to third-party servicers. The remaining Adjusted Cap stated above represents the amount previously paid to Saxon Mortgage Services, Inc. prior to ceasing On servicing operations. 11 of July 3, 2012, Aurora Loan Services LLC has discontinued its servicing function and sold all remaining servicing rights to Nationstar Mortgage. The remaining Adjusted Cap stated above represents the amount previously paid to Aurora Loan Services LLC, prior to ceasing servicing operations. As 12 Effective September 1, 2011 Litton Loan Servicing LP was acquired by Ocwen Financial Corporation. The remaining Adjusted Cap stated above represents the amount previously paid to Litton prior to such acquistion. 13 May 2010, U.S. mortgage servicing business HomEq was sold to Ocwen Loan Servicing. The remaining Adjusted Cap stated above represents the amount previously paid to HomEq prior to such sale. In 14 December 2012, Ocwen Financial Corporation completed the acquisition of Homeward Residential, Inc. The remaining Adjusted Cap stated above represents the amount previously paid to Homeward prior to such acquisition. In 15 Effective June, 2014, New Penn Financial LLC d/b/a Shellpoint Mortgage Servicing, a AAA servicer, completed the acquisition of Resurgent Mortgage Servicing, from Resurgent Capital Services L.P., also a AAA servicer. The Adjusted Cap of Resurgent Capital Services L.C. stated above represents the amount previously paid to Resurgent under their AAA obligations pursuant to certain Servicer Participation Agreements prior to such acquisition. 16 Effective February 15, 2013, Ocwen Loan Servicing, LLC acquired certain assets of GMAC Mortgage, LLC, pursuant to a Sale Order entered in connection with the bankruptcy cases of Residential Capital, LLC and certain of its affiliated debtors. Total Updated due to quarterly assessment and reallocation Reallocation due to MHA program deobligation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer Updated portfolio data from servicer/additional program initial cap Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details Notes: Numbers may be affected by rounding. Data as of 3/31/2016. Numbered notes are taken verbatim from Treasury’s 3/28/2016, Transactions Report-Housing Programs. Name of Institution Date Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 3/31/2016 TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 439 9/29/2010 3 9/29/2010 3 3 3 3 3 3 3 9/29/2010 9/23/2010 9/29/2010 9/23/2010 9/29/2010 9/23/2010 9/29/2010 9/23/2010 9/29/2010 9/23/2010 9/29/2010 9/23/2010 9/29/2010 New Jersey Housing and Mortgage Finance Agency, Trenton, NJ Illinois Housing Development Authority, Chicago, IL Indiana Housing and Community Development Authority, Indianapolis, IN GHFA Affordable Housing, Inc., Atlanta, GA Mississippi Home Corporation, Jackson, MS Kentucky Housing Corporation, Frankfort, KY Alabama Housing Finance Authority, Montgomery, AL Purchase Purchase Purchase Purchase Purchase Purchase Purchase Purchase Purchase Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program 9/23/2010 3 Financial Instrument for HHF Program 9/29/2010 Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program 3 Purchase Purchase Purchase Purchase 9/23/2010 SC Housing Corp, Columbia, SC Rhode Island Housing and Mortgage Finance Corporation, Providence, RI 2 8/3/2010 9/23/2010 Financial Instrument for HHF Program 8/3/2010 2 Financial Instrument for HHF Program 9/29/2010 Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program 3 Purchase Purchase Purchase Purchase 9/23/2010 Oregon Affordable Housing Assistance Corporation, Salem, OR Ohio Homeowner Assistance LLC, Columbus, OH 2 8/3/2010 9/23/2010 Financial Instrument for HHF Program 8/3/2010 2 Financial Instrument for HHF Program 9/29/2010 3 Financial Instrument for HHF Program 9/23/2010 2 Purchase Financial Instrument for HHF Program 8/3/2010 North Carolina Housing Finance Agency, Raleigh, NC Financial Instrument for HHF Program Financial Instrument for HHF Program 9/29/2010 Purchase 3 Michigan Homeowner Assistance Nonprofit Housing Corporation, Lansing, MI Financial Instrument for HHF Program Financial Instrument for HHF Program 9/23/2010 6/23/2010 9/29/2010 2 3 Financial Instrument for HHF Program Purchase 6/23/2010 Arizona (Home) Foreclosure Prevention Funding Corporation, Phoenix, AZ Financial Instrument for HHF Program 9/29/2010 3 Financial Instrument for HHF Program 9/23/2010 2 Purchase Financial Instrument for HHF Program 6/23/2010 Florida Housing Finance Corporation, Tallahassee, FL Financial Instrument for HHF Program 9/29/2010 3 Financial Instrument for HHF Program 9/23/2010 2 Purchase Financial Instrument for HHF Program 6/23/2010 CalHFA Mortgage Assistance Corporation, Sacramento, CA Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Investment Description 9/29/2010 Purchase Transaction Type 3 Nevada Affordable Housing Assistance Corporation, Reno, NV Name of Institution 9/23/2010 6/23/2010 Date 2 Note Seller HARDEST HIT FUND (HHF) PROGRAM TRANSACTION DETAIL, AS OF 3/31/2016 TABLE C.14 - $112,200,637 - $166,352,726 - $82,762,859 - $126,650,987 - $38,036,950 - $55,588,050 - $60,672,471 - - $138,000,000 - - $43,000,000 - - $88,000,000 - - $172,000,000 - - $159,000,000 - - $154,500,000 - $125,100,000 - - $418,000,000 - - $699,600,000 - - $102,800,000 Initial Investment Amount $188,347,507 - $279,250,831 - $138,931,280 - $212,604,832 - $63,851,373 - $93,313,825 - $101,848,874 - $98,659,200 $58,772,347 - $22,780,803 $13,570,770 - $82,748,571 $49,294,215 - $249,666,235 $148,728,864 - $202,907,565 $120,874,221 - $215,644,179 $128,461,559 - $142,666,006 - $400,974,381 $238,864,755 - $799,477,026 $476,257,070 - $57,169,659 $34,056,581 - Additional Investment Amount N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Pricing Mechanism Continued on next page $300,548,144 $445,603,557 $221,694,139 $339,255,819 $101,888,323 $148,901,875 $162,521,345 $295,431,547 $79,351,573 $220,042,786 $570,395,099 $482,781,786 $498,605,738 $267,766,006 $1,057,839,136 $1,975,334,096 $194,026,240 Investment Amount1 440 APPENDIX C I TRANSACTION DETAIL I APRIL 27, 2016 9/29/2010 9/23/2010 9/29/2010 Tennessee Housing Development Agency, Nashville, TN District of Columbia Housing Finance Agency, Washington, DC Purchase Purchase Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program (CONTINUED) 9/3/2010 3/4/2013 3/31/2015 1 2 3 Citigroup, Inc., New York, NY Seller Name Purchase Transaction Type Facility Purchase Agreement Investment Description $8,117,000,000 Initial Investment Amount - $81,128,260 - $7,726,678 - $125,000,000 N/A N/A N/A N/A N/A N/A N/A Pricing Mechanism $7,600,000,000 $217,315,593 $20,697,198 Source: Treasury, Transactions Report-Housing Programs, 3/28/2016. 1 September 3, 2010, the U.S. Department of the Treasury and Citibank, N.A. entered into a facility purchase agreement (the ‘L/C Facility Agreement”), which allowed Treasury to demand from Citigroup the issuance of an up to $8 billion, 10-year letter of credit (the “L/C”). Treasury On will increase availability under the L/C incrementally in proportion to the mortgages refinanced under the FHA Short Refinance program during the eligibility period. After that time, the amount of the L/C will be capped at the then-current level. Under the terms of the L/C Facility Agreement, Treasury could incur fees for the availability and usage of the L/C up to a maximum amount of $117 million. 2 March 4, 2013, the U.S. Department of the Treasury and Citibank, N.A. entered into Amendment No. 1 to the L/C Facility Agreement, which reduced the maximum amount of the L/C from $8 billion to $1 billion; extends by two years the period of time Treasury has to increase the On L/C to cover new loans that are entered into the program; and modified the fee structure paid to Citibank, N.A. Based on this new fee structure and the lower L/C, Treasury expects that the fees incurred for the availability and usage of the L/C will not exceed $25 million. 3 March 31, 2015, the U.S. Department of the Treasury and Citibank, N.A. entered into Amendment No. 2 to the L/C Facility Agreement. Amendments included reducing the maximum amount of the L/C from $1 billion to $100 million; extending by approximately two years the term of On the L/C and the period of time Treasury has to increase the L/C to cover new loans entered into the program; and modifying the structure of administrative fees associated with the facility. $125,000,000 ($900,000,000) $1,025,000,000 $8,117,000,000 Investment Amount Total Investment Amount $136,187,333 - $12,970,520 Total Investment Amount ($7,092,000,000) - Investment Adjustments Notes: Numbers may be affected by rounding. Data as of 3/31/2016. Numbered notes are taken verbatim from Treasury’s 3/28/2016, Transactions Report-Housing Programs. Date Note FHA SHORT REFINANCE PROGRAM, AS OF 3/31/2016 TABLE C.15 Source: Treasury, Transactions Report-Housing Programs, 3/28/2016. 3 2 1 The purchase will be incrementally funded up to the investment amount. 9/23/2010, Treasury provided additonal investment to this HFA and substituted its investment for an amended and restated Financial Instrument. On 9/29/2010, Treasury provided additonal investment to this HFA and substituted its investment for an amended and restated Financial Instrument. On Notes: Numbers may be affected by rounding. Data as of 3/31/2016. Numbered notes are taken verbatim from Treasury’s 3/28/2016, Transactions Report-Housing Programs. 3 3 9/23/2010 HARDEST HIT FUND (HHF) PROGRAM TRANSACTION DETAIL, AS OF 3/31/2016 TRANSACTION DETAIL I APPENDIX C I APRIL 27, 2016 441 442 APPENDIX D I MHA SUPPLEMENTAL DATA I APRIL 27, 2016 TABLE D.1 BREAKDOWN OF TARP EXPENDITURES, AS OF 3/31/2016 ($ MILLIONS) MHA TARP Expenditures HAMP HAMP First Lien Modification Incentives Servicer Incentive Payment $804.0 Servicer Current Borrower Incentive Payment Annual Servicer Incentive Payment $17.1 $1,561.4 Investor Current Borrower Incentive Payment $75.8 Investor Monthly Reduction Cost Share $3,745.9 Annual Borrower Incentive Payment $1,873.5 Borrower Sixth Year Bonus Payment $798.4a Tier 2 Incentive Payments $411.9 HAMP First Lien Modification Incentives Total $9,287.9 PRA $2,039.2 HPDP UP $382.4 $—b HAMP Program Incentives Total $11,709.5 HAFA Incentives Servicer Incentive Payment $311.0 Investor Reimbursement $260.2 Borrower Relocation $587.1 HAFA Incentives Total $1,158.4 Second-Lien Modification Program Incentives 2MP Servicer Incentive Payment $76.3 2MP Annual Servicer Incentive Payment $56.1 2MP Annual Borrower Incentive Payment $63.9 2MP Investor Cost Share $324.4 2MP Investor Incentive $370.7 Second-Lien Modification Program Incentives Total $891.3 Treasury/FHA-HAMP Incentives $137.0 Annual Borrower Incentive Payment MHA SUPPLEMENTAL DATA Annual Servicer Incentive Payment $131.9 Borrower Sixth Year Bonus Payment Treasury/FHA-HAMP Incentives Total $—c $270.2 RD-HAMP $—d FHA2LP $— MHA Incentives Total HHF Disbursements (Drawdowns by State HFAs) FHA Short Refinance (Loss-Coverage) Total Expenditures $14,029.2 $6,416.4 $20.5 $20,466.8 Notes: Numbers may not total due to rounding. a Includes $327.6 million of TARP funded incentives on GSE backed HAMP modifications. b T ARP funds are not used to support the UP program, which provides forbearance of a portion of the homeowner’s mortgage payment. c Treasury/FHA HAMP expenditures on the “Borrower Sixth Year Bonus Payment” were $1,250,000 through March 31, 2016. d RD-HAMP expenditures equal $536,394 as of March 31, 2016. Source: Source: Treasury, responses to SIGTARP data calls, 4/4/2016, and 4/21/2016. MHA SUPPLEMENTAL DATA I APPENDIX D I APRIL 27, 2016 TABLE D.2 TARP INCENTIVE PAYMENTS BY 10 SERVICERS, HAMP ONLY, AS OF 3/31/2016 ($ MILLIONS) Incentive Payments to Borrowers Incentive Payments to Investors Incentive Payments to Servicers Total Incentive Payments Ocwen Loan Servicing, LLCa $616.1 $1,985.5 $653.4 $3,255.0 JPMorgan Chase Bank, NAb $433.5 $1,121.0 $411.7 $1,966.2 Wells Fargo Bank, N.A. $406.5 $1,046.7 $407.8 $1,861.0 $309.3 $646.1 $329.9 $1,285.3 e $217.4 $379.8 $158.1 $755.3 Select Portfolio Servicing, Inc. $187.0 $357.6 $174.1 $718.8 CitiMortgage Inc d Bank of America, N.A.c Nationstar Mortgage LLC $125.6 $238.5 $118.8 $483.0 CIT Bank, N.A.f $55.0 $203.2 $78.5 $336.7 Bayview Loan Servicing LLC $40.9 $88.1 $27.0 $156.0 U.S. Bank National Association $37.9 $50.7 $31.7 $120.3 $242.6 $345.5 $183.9 $771.9 $2,671.9 $6,462.7 $2,574.9 $11,709.5 Other Servicers Total Notes: Numbers may not total due to rounding. Includes HAMP Tier 1, HAMP Tier 2, HPDP, and PRA Incentives. a Ocwen Loan Servicing, LLC includes the former Litton Loan Servicing, LLC, GMAC Mortgage, LLC, and Homeward Residential. b JPMorgan Chase Bank, NA includes EMC Mortgage Corporation. c B ank of America N.A. includes the former Countrywide Home Loans Servicing, BAC Home Loans Servicing LP, Home Loan Services, and Wilshire Credit Corporation. d Wells Fargo Bank, N.A. includes Wachovia Bank, NA and Wachovia Mortgage, FSB. e Nationstar Mortgage LLC includes MorEquity, Inc and the former Aurora Loan Services LLC. f Formerly OneWest Bank. Source: Treasury, Program to Date Cash Disbursement Summary Report, March 2016. 443 HAMP Permanent Modifications Started in 2010 HAMP Permanent Modifications Started in 2011 HAMP Permanent Modifications Started in 2012 25,875 25,874 25,866 2015 2016 2017 5,711 18,890 21,145 22,652 5.3% 5.0% 4.0% 3.0% 0.3% 1.0% 1.0% 1.0% $1,020 $987 $914 $826 $19 $90 $95 $92 251,368 251,049 251,269 251,350 208,784 27,449 171,562 193,720 3.0% 5.1% 5.0% 4.0% 1.0% $861 $948 0.1% $1,006 0.9% $1,011 1.0% $94 $16 $77 $96 201,093 201,418 201,620 201,710 103 119,200 144,845 159,504 5.1% 4.6% 4.0% 3.0% $997 $907 0.1% $994 0.6% $1,042 1.0% 1.0% $10 $57 $100 $97 135,082 134,453 134,717 134,949 94,553 HAMP Permanent Modifications Started in 2014 HAMP Permanent Modifications Started in 2015 3.0% 1.0% $891 $856 $951 0.1% $1,084 0.1% 0.8% HAMP Permanent Modifications Started in 2016 5.1% 4.1% 3.9% $94 $25 $13 $70 112,311 111,925 111,633 2019 2020 2021 28 20,787 67,719 76,096 5.9% 4.4% 3.5% 3.0% 0.6% 0.4% 0.5% 1.0% $1,823 $984 $921 $871 $93 $34 $56 $91 69,551 69,772 69,957 70,124 13 29,834 35,584 39,065 4.5% 4.3% 4.0% 3.0% $955 $935 $849 0.5% $1,016 0.3% 1.0% 1.0% $39 $26 $92 $88 50,987 50,680 50,849 17,202 744 15,565 3.0% 4.1% 3.9% 1.0% 0.1% 0.9% $838 $859 $907 $90 $12 $77 4.0% 3.0% 4.1% 2,145 2,394 10 8,406 8,431 8,382 0.4% 0.9% 1.0% $949 $918 $843 Source: SIGTARP analysis of Treasury HAMP data. * he sum of median monthly payment increases does not agree to the median monthly payment increases shown on Table 4.8, as a significant portion of the modifications with payment increases do not have all incremental T increases. Notes: a Analysis of HAMP permanent modifications with scheduled payment increases excludes 55,472 permanent modifications with incomplete records. 2023 2022 112,151 2018 2017 2016 2015 2014 $22 $83 $89 Permanent Permanent Permanent Permanent Modifications Modifications Interest Ratea Monthly Paymenta Modifications Interest Ratea Monthly Paymenta Modifications Interest Ratea Monthly Paymenta Interest Ratea Monthly Paymenta with with with with Total Active Total Active Total Active Scheduled Scheduled Scheduled Scheduled Total Active Median Median Median Median Median Median Permanent Permanent Permanent Payment Median Payment Payment Payment Year of Permanent Median Increasesa Median Increase Median Increase Modifications Increasesa Median Increase Median Increase Modifications Increasesa Median Increase Median Increase Modifications Increasesa Median Increase Median Increase Increase Modifications HAMP Permanent Modifications Started in 2013 12 2,217 83,334 HAMP PERMANENT MODIFICATIONS WITH SCHEDULED PAYMENT INCREASES, ANNUAL, AS OF 2/29/2016 (CONTINUED) 2023 2022 2021 2020 2019 2018 25,875 2014 Permanent Permanent Permanent Permanent Modifications Interest Ratea Monthly Paymenta Modifications Interest Ratea Monthly Paymenta Modifications Interest Ratea Monthly Paymenta Modifications Interest Ratea Monthly Paymenta with with with with Total Active Total Active Total Active Total Active Scheduled Scheduled Scheduled Scheduled Permanent Permanent Permanent Year of Permanent Median Median Median Median Median Median Median Median Payment Payment Payment Payment Increase Modifications Increasesa Median Increase Median Increase Modifications Increasesa Median Increase Median Increase Modifications Increasesa Median Increase Median Increase Increasesa Median Increase Median Increase Modifications HAMP Permanent Modifications Started in 2009 HAMP PERMANENT MODIFICATIONS WITH SCHEDULED PAYMENT INCREASES, ANNUAL, AS OF 2/29/2016 TABLE D.3 444 APPENDIX D I MHA SUPPLEMENTAL DATA I APRIL 27, 2016 MHA SUPPLEMENTAL DATA I APPENDIX D I APRIL 27, 2016 TABLE D.4 HAMP TIER 1 PERMANENT MODIFICATIONS WITH SCHEDULED PAYMENT INCREASES, AS OF 2/29/2016 Total Active Permanent Modifications Total Active Permanent Modifications With Scheduled Payment Increases Percentage of Active Permanent Modifications With Scheduled Payment Increase Median Payment Increase After All Increasesa Maximum Payment Increase After All Increasesa 4,406 2,992 67.9% $97 $1,291 372 279 75.0% 178 756 29,825 25,323 84.9% 191 1,058 Arkansas 1,746 1,281 73.4% 98 746 California 221,059 192,852 87.2% 310 1,788 Colorado 10,956 8,889 81.1% 178 1,128 Connecticut 11,558 9,250 80.0% 199 1,265 2,551 1,998 78.3% 168 814 Florida 111,832 91,569 81.9% 170 1,336 Georgia 29,600 23,205 78.4% 137 1,049 Guam 10 7 70.0% 65 167 Hawaii 3,482 2,904 83.4% 379 1,258 Idaho 2,991 2,433 81.3% 162 879 Illinois 44,262 36,711 82.9% 178 1,556 Indiana 7,494 5,365 71.6% 93 1,108 Iowa 1,753 1,307 74.6% 93 667 Kansas 1,841 1,379 74.9% 108 999 Kentucky 2,988 2,170 72.6% 94 804 Louisiana 4,560 3,234 70.9% 100 924 Maine 2,306 1,846 80.1% 143 709 Maryland 27,308 22,171 81.2% 250 1,378 Massachusetts 20,166 16,824 83.4% 237 1,215 Michigan 23,136 18,642 80.6% 123 1,301 Minnesota 12,134 10,250 84.5% 175 1,218 Mississippi 2,735 1,771 64.8% 88 800 Missouri 7,603 5,603 73.7% 108 894 Montana 884 713 80.7% 168 1,009 1,018 748 73.5% 90 673 17,805 15,244 85.6% 217 1,114 3,566 2,952 82.8% 179 852 New Jersey 29,523 24,905 84.4% 236 1,347 New Mexico 2,912 2,284 78.4% 143 970 State Alabama Alaska Arizona Delaware Nebraska Nevada New Hampshire Continued on next page 445 446 APPENDIX D I MHA SUPPLEMENTAL DATA I APRIL 27, 2016 HAMP TIER 1 PERMANENT MODIFICATIONS WITH SCHEDULED PAYMENT INCREASES, AS OF 2/29/2016 (CONTINUED) Total Active Permanent Modifications Total Active Permanent Modifications With Scheduled Payment Increases Percentage of Active Permanent Modifications With Scheduled Payment Increase Median Payment Increase After All Increasesa Maximum Payment Increase After All Increasesa New York 49,833 42,410 85.1% $297 $1,586 North Carolina 14,677 11,152 76.0% 116 986 114 86 75.4% 108 461 17,229 13,031 75.6% 99 1,002 Oklahoma 1,844 1,270 68.9% 85 667 Oregon 9,523 7,980 83.8% 197 1,682 Pennsylvania 18,161 13,617 75.0% 129 1,014 Puerto Rico 3,108 2,828 91.0% 93 987 Rhode Island 4,160 3,432 82.5% 192 888 South Carolina 7,637 5,667 74.2% 118 1,094 253 201 79.4% 123 822 7,991 5,515 69.0% 99 1,082 Texas 22,392 15,780 70.5% 98 1,138 Utah 6,653 5,574 83.8% 206 1,157 756 591 78.2% 153 871 11 9 81.8% 139 229 Virginia 19,473 15,932 81.8% 234 1,425 Washington 18,404 15,499 84.2% 229 1,160 District of Columbia 1,448 1,226 84.7% 265 1,002 West Virginia 1,039 823 79.2% 126 586 Wisconsin 7,337 5,749 78.4% 125 979 340 249 73.2% 165 869 856,765 705,722 82.4% $205 $1,788 State North Dakota Ohio South Dakota Tennessee Vermont Virgin Islands Wyoming Total a Analysis of HAMP permanent modifications with scheduled interest rate and payment increases excludes 55,472 HAMP permanent modifications with incomplete records. Source: SIGTARP analysis of Treasury HAMP data. MHA SUPPLEMENTAL DATA I APPENDIX D I APRIL 27, 2016 TABLE D.5 HAMP TIER 1 PERMANENT MODIFICATION REDEFAULT ACTIVITY, AS OF 3/31/2016 Year Modified Permanents Started Annual Cumulative Permanents Redefaulted Annual Cumulative Redefault Rate Cumulative 2009 23,633 129 129 1% 243,262 266,895 29,015 29,144 11% 2011 185,254 452,149 59,080 88,224 20% 2012 114,745 566,894 58,860 147,084 26% 2013 98,423 665,317 49,413 196,497 30% 2014 59,967 725,284 41,306 237,803 33% 2015 45,687 770,971 32,442 270,245 35% 2016 Non-GSE 23,633 2010 8,317 779,288 6,302 276,547 35% Total 779,288 276,547 2009 43,305 339 339 1% 269,450 312,755 27,730 28,069 9% 2011 168,423 481,178 51,287 79,356 16% 2012 87,280 568,458 49,229 128,585 23% 2013 43,497 611,955 33,990 162,575 27% 2014 26,229 638,184 27,122 189,697 30% 2015 11,840 650,024 20,533 210,230 32% 2016 GSE 43,305 2010 2,141 652,165 5,136 215,366 32% Total 652,165 215,366 2009 66,938 468 468 1% 512,712 579,650 56,745 57,213 10% 2011 353,677 933,327 110,367 167,580 18% 2012 202,025 1,135,352 108,089 275,669 24% 2013 141,920 1,277,272 83,403 359,072 28% 2014 Total 66,938 2010 86,196 1,363,468 68,428 427,500 31% 2015 57,527 1,420,995 52,975 480,475 34% 2016 10,458 1,431,453 11,438 491,913 34% Total 1,431,453 491,913 Notes: Data is as reported by Treasury as of December 31, 2009; December 31, 2010; December 31, 2011; December 31, 2012; December 31, 2013, December 31, 2014, December 31, 2015, and March 31, 2016. Sources: Treasury responses to SIGTARP data calls, 1/21/2011, 1/20/2012, 1/22/2013, 2/28/2013, 7/19/2013, 10/21/2013, 10/23/2013, 1/23/2014, and 1/24/2014; Fannie Mae, responses to SIGTARP data calls 10/21/2013 and 1/23/2014; Treasury, “HAMP 1MP Program Volumes – Program Type and Payor by Tier – March 2016,” accessed 4/21/2016; SIGTARP Quarterly Report to Congress, 1/30/2010; SIGTARP Quarterly Report to Congress, 1/26/2011; SIGTARP Quarterly Report to Congress, 1/26/2012; SIGTARP Quarterly Report to Congress, 1/30/2013. 447 448 APPENDIX D I MHA SUPPLEMENTAL DATA I APRIL 27, 2016 TABLE D.6 ADDITIONAL MAKING HOME AFFORDABLE (“MHA”) HOUSING SUPPORT PROGRAMS, AS OF 3/31/2016 Program Principal Reduction Alternative (“PRA”)a Home Price Decline Protection (“HPDP”)a Second Lien Modification Program (“2MP”) Treasury/ Federal Housing AdministrationHome Affordable Modification Program (“Treasury/FHAHAMP”) Date Announced 6/3/2010 Date Started Purpose To provide incentives to investors to modify homeowners’ mort10/1/2010 gages under HAMP by reducing the principal amount owed. Homeowners Assisted Estimated Number of Homeowners to be Permanents Permanents Assisted Started Active TARP Expenditures (In Billions) — 211,795b 155,401b $2.0 7/31/2009 To provide additional TARP-funded incentives to investors to modify mortgages 9/1/2009 through HAMP by partially offsetting possible losses from home price declines. — 228,006b 134,977b 0.38 4/28/2009 To provide incentives to servicers, investors, and borrowers to modify second mortgages (second liens) -- with a partial or full extinguish8/13/2009 ment of the loan balance -- for homeowners with a corresponding first mortgage (first lien) that was modified under HAMP. “A Second Lien Program to Reach up to 1 to 1.5 Million Homeowners,” according to Treasury, “Making Home Affordable, Program Update, Fact Sheet,” 4/28/2009. 156,484 81,566 0.89 To provide TARP-funded, HAMP-like incentives to 8/15/2009 servicers and homeowners to modify mortgages insured by the FHA. “Tens of thousands of FHA borrowers will now be able to modify their mortgages in the same manner as so many others who are taking advantage of the Administration’s Making Home Affordable program,” according to HUD Secretary Shaun Donovan, HUD Press Release, “HUD Secretary Donovan Announces New FHA-Making Home Affordable Loan Modification Guidelines,” 7/30/2009. 115,632 83,049 0.27 7/30/2009c Continued on next page MHA SUPPLEMENTAL DATA I APPENDIX D I APRIL 27, 2016 ADDITIONAL MAKING HOME AFFORDABLE (“MHA”) HOUSING SUPPORT PROGRAMS, AS OF 3/31/2016 Program Department of Agriculture Rural DevelopmentHome Affordable Modification Program (“RDHAMP”) Treasury/ Federal Housing Administration Second Lien Program (“Treasury/FHA2LP”) f Department of Veterans Affairs-Home Affordable Modification Program (“VA HAMP”) Date Announced Date Started Purpose (CONTINUED) Homeowners Assisted Estimated Number of Homeowners to be Permanents Permanents Assisted Started Active TARP Expenditures (In Billions) 9/17/2010c To provide TARP-funded, HAMP-like incentives to servicers and borrow9/24/2010 ers for modifications of mortgages insured by RD. — 207 133 —d 3/26/2010c To provide TARP-funded incentives to servicers and investors to partially or fully extinguish sec8/6/2010 ond mortgages (second liens) for mortgages modified and insured by the FHA. — 0 0 0.00 1/8/2010c To provide non-TARPfunded, HAMP-like incentives to servicers 2/1/2010 and borrowers for modifications of mortgages insured by the VA. — 934 709 —e Notes: a Program is a subprogram of the Home Affordable Modification Program (“HAMP”). b Includes HAMP Tier 1 and Tier 2 modifications. c I n its April 6, 2009 Supplemental Directive, Treasury announced that “Mortgage loans insured, guaranteed or held by a Federal Government agency (e.g., FHA, HUD, VA and Rural Development) may be eligible for the HAMP, subject to guidance issued by the relevant agency. Further details regarding inclusion of these loans in the HAMP will be provided in a subsequent Supplemental Directive.” d As of March 31, 2016, $536,394 has been expended for RD-HAMP. e Treasury does not provide incentive compensation related to VA-HAMP. f As of December 31, 2013, the FHA2LP program had expired. Sources: Treasury, responses to SIGTARP data calls, 1/5/2012, 1/8/2014, 1/24/2014, 4/9/2014, 4/25/2014, 7/8/2014, 7/24/2014, 10/6/2014, 10/10/2014, 1/5/2015, 1/23/2015, 4/23/2015, 7/6/2015 7/23/2015, 10/6/2015, 1/4/2016, 1/21/2016, and 4/4/2016; Treasury, Treasury, “2MP Program Inventory – Program Type by Payor – March 2016,“ accessed 4/21/2016; Treasury, “FHA & RD HAMP Trial Starts – Program Summary – March 2016,” accessed 4/21/2016; VA, responses to SIGTARP data calls, 1/8/2014, 4/3/2014, 7/7/2014, 10/23/2014, 1/2/2015, 4/1/2015, 7/1/2015, 10/1/2015, 1/8/2016, and 4/11/2016; Treasury, “Making Home Affordable Program Handbook for Servicers of Non-GSE Mortgages, Version 4.5; Treasury, Press Releases, 4/28/2013, 7/31/2009, 11/30/2009, and 3/26/2010; Treasury, “Supplemental Directive 09-01: Introduction of the Home Affordable Modification Program,” 4/6/2009; Treasury, “Supplemental Directive 09-04: Home Affordable Modification Program -- Home Price Decline Protection Incentives,” 7/31/2009; Treasury, “Supplemental Directive 09-09: Introduction of Home Affordable Foreclosure Alternatives -- Short Sale and Deed in Lieu of Foreclosure,” 11/30/2009; Treasury, “Supplemental Directive 09-09 Revised: Introduction of Home Affordable Foreclosure Alternatives -- Short Sale and Deed in Lieu of Foreclosure Update,” 3/26/2010; Treasury, “Supplemental Directive 09-05 Revised: Update to the Second Lien Modification Program (2MP),” 3/26/2010; Treasury, “Fact Sheet: FHA Program Adjustments to Support Refinancings for Underwater Homeowners,” 3/26/2010; Treasury, “HAMP Improvements Fact Sheet: Making Home Affordable Program Enhancements to Offer More Help for Homeowners,” 3/26/2010; Treasury, “Supplemental Directive 10-05: Home Affordable Modification Program - Modification of Loans with Principal Reduction Alternative,” 6/3/2010; Treasury, Supplemental Directive 10-10: Home Affordable Modification Program – Modifications of Loans Guaranteed by the Rural Housing Service,” 9/17/2010; HUD, press release, 7/30/2009; VA, Circular 26-10-2, 1/8/2010; and VA, Circular 26-10-6, 5/24/2010. 449 392,129 114,227 90,938 50,795 41,519 7,611 2011 2012 2013 2014 2015 2016 510,491 170,075 2010 81,478 35,719 22,114 10,594 1,880 2011 2012 2013 2014 2015 2016 902,620 138,072 2010 308,147 195,705 126,657 72,909 52,113 9,491 2010 2011 2012 2013 2014 2015 2016 Total 563,828 2009 Total 287,839 2009 Total 275,989 2009 2,231,470 2,231,470 2,221,979 2,169,866 2,096,957 1,970,300 1,774,595 1,466,448 902,620 1,088,187 1,088,187 1,086,307 1,075,713 1,053,599 1,017,880 936,402 798,330 510,491 1,143,283 1,143,283 1,135,672 1,094,153 1,043,358 952,420 838,193 668,118 392,129 Cumulative 429 3,567 3,624 6,655 10,876 27,452 686,058 48,451 415 2,690 1,742 4,446 4,814 10,654 383,448 24,731 14 877 1,882 2,209 6,062 16,798 302,610 23,720 Annual 787,112 787,112 786,683 783,116 779,492 772,837 761,961 734,509 48,451 432,940 432,940 432,525 429,835 428,093 423,647 418,833 408,179 24,731 354,172 354,172 354,158 353,281 351,399 349,190 343,128 326,330 23,720 Cumulative Trials Cancelled 12,905 12,905 14,301 23,282 40,193 62,111 79,307 152,289 787,231 3,082 3,082 3,758 7,694 13,551 25,775 36,391 77,396 442,455 9,823 9,823 10,543 15,588 26,642 36,336 42,916 74,893 344,776 Annual Trials Active 10,458 57,527 86,196 141,920 202,025 353,677 512,712 66,938 2,141 11,840 26,229 43,497 87,280 168,423 269,450 43,305 8,317 45,687 59,967 98,423 114,745 185,254 243,262 23,633 Annual 1,431,453 1,431,453 1,420,995 1,363,468 1,277,272 1,135,352 933,327 579,650 66,938 652,165 652,165 650,024 638,184 611,955 568,458 481,178 312,755 43,305 779,288 779,288 770,971 725,284 665,317 566,894 452,149 266,895 23,633 Cumulative Trials Converted to Permanent 11,438 52,975 68,428 83,403 108,089 110,367 56,745 468 5,136 20,533 27,122 33,990 49,229 51,287 27,730 339 6,302 32,442 41,306 49,413 58,860 59,080 29,015 129 Annual 491,913 491,913 480,475 427,500 359,072 275,669 167,580 57,213 468 215,366 215,366 210,230 189,697 162,575 128,585 79,356 28,069 339 276,547 276,547 270,245 237,803 196,497 147,084 88,224 29,144 129 Cumulative Permanents Redefaulted 8,896 32,466 16,539 14,113 6,769 2,101 802 5 6,528 20,945 10,905 10,592 5,271 1,442 569 3 2,368 11,521 5,634 3,521 1,498 659 233 2 Annual 81,691 81,691 72,795 40,329 23,790 9,677 2,908 807 5 56,255 56,255 49,727 28,782 17,877 7,285 2,014 572 3 25,436 25,436 23,068 11,547 5,913 2,392 894 235 2 Cumulative Permanents Paid Offa (10,818) (31,861) 1,225 44,403 87,168 241,209 455,165 66,465 (9,784) (31,064) (11,799) (1,085) 32,780 115,694 241,151 42,963 (1,034) (797) 13,024 45,488 54,388 125,515 214,014 23,502 Annual 852,956 852,956 863,774 895,635 894,410 850,007 762,839 521,630 66,465 378,856 378,856 388,640 419,704 431,503 432,588 399,808 284,114 42,963 474,100 474,100 475,134 475,931 462,907 417,419 363,031 237,516 23,502 Cumulative Permanents Active Sources: Treasury, responses to SIGTARP data calls, 7/24/2014, 4/25/2014, 1/23/2014, 10/23/2013, 10/21/2013, 7/19/2013, 2/28/2013, 1/22/2013, 1/20/2012, and 1/21/2011; Treasury, “HAMP 1MP: Program Volumes - Program Type & Payor by Tier - March 2016,” accessed 4/21/2016; Fannie Mae, responses to SIGTARP data calls, 7/24/2014, 4/24/2014, 1/23/2014, 10/21/2013; SIGTARP Quarterly Report to Congress, 1/29/2014; SIGTARP Quarterly Report to Congress, 1/30/2013; SIGTARP Quarterly Report to Congress, 1/26/2012; SIGTARP Quarterly Report to Congress, 1/26/2011; SIGTARP Quarterly Report to Congress, 1/30/2010. Notes: Data is as reported by Treasury as of December 31, 2009; December 31, 2010; December 31, 2011; December 31, 2012; December 31, 2013, December 31, 2014, December 31, 2015, and March 31, 2016. a Analysis excludes 4,893 HAMP modifications withdrawn Total GSE TARP Annual Trials Started ANNUAL AND CUMULATIVE HAMP TIER 1 MODIFICATION ACTIVITY, AS OF 3/31/2016 TABLE D.7 450 APPENDIX D I MHA SUPPLEMENTAL DATA I APRIL 27, 2016 CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 451 TABLE E.1 CPP-RELATED DIVIDEND RATE INCREASES, AS OF 3/31/2016 Number of Missed Dividend Paymentsb $6,737,500 13 4,612,010 13 Location Investment Date San Juan, PR 12/5/2008 First BanCorp San Juan, PR 1/16/2009 Hampton Roads Bankshares, Inc. Norfolk, VA FNB United Corp. Asheboro, NC Crescent Financial Bancshares, Inc. (VantageSouth Bancshares, Inc.) Cary, NC Porter Bancorp, Inc. Louisville, KY First United Corporation Oakland, MD 1/30/2009 Patriot Bancshares, Inc. Houston, TX 12/19/2008 BNCCORP, Inc. Bismarck, ND Broadway Financial Corporation Los Angeles, CA 11/14/2008 15,000,000 Tidelands Bancshares, Inc. Mount Pleasant, SC 12/19/2008 14,448,000 5,129,040 22 Bankers' Bank of the West Bancorp, Inc. Denver, CO Meridian Bank Devon, PA 2/13/2009 One United Bank Boston, MA 12/19/2008 12,063,000 5,187,090 28 Cecil Bancorp, Inc. Elkton, MD 12/23/2008 11,560,000 4,537,300 25 Community Bankers Trust Corporation Glen Allen, VA 12/19/2008 NCAL Bancorp Los Angeles, CA 12/19/2008 2,207,500 14 Greer Bancshares Incorporated Greer, SC 1/30/2009 Syringa Bancorp Boise, ID 1/16/2009 1,853,000 17 Western Community Bancshares, Inc. Palm Desert, CA 12/23/2008 1,834,538 17 Idaho Bancorp Boise, ID 1/16/2009 1,786,238 19 Citizens Commerce Bancshares, Inc. Versailles, KY 2,735,775 26 Patapsco Bancorp, Inc. Dundalk, MD Rising Sun Bancorp Rising Sun, MD 1/9/2009 1,749,960 20 CalWest Bancorp Rancho Santa Margarita, CA 1/23/2009 1,658,213 21 Pacific Commerce Bank Los Angeles, CA 12/23/2008 695,771 13 Citizens First Corporation Bowling Green, KY 12/19/2008 Lone Star Bank Houston, TX 2/6/2009 1,059,242 23 US Metro Bank Garden Grove, CA 2/6/2009 891,540 17 Goldwater Bank, N.A. Scottsdale, AZ Saigon National Bank Westminster, CA Centrue Financial Corporation St. Louis, MO 1/9/2009 Calvert Financial Corporation Ashland, MO 1/23/2009 AB&T Financial Corporation Gastonia, NC 1/23/2009 Institutiona Outstanding Capital Amount Value of Missed Dividend/Interest Paymentsb Rate Increased 12/5/2013 Popular, Inc. CPP SUPPLEMENTAL DATA Rate Increased 2/15/2014 $124,966,504 12/31/2008 2/13/2009 1/9/2009 11/21/2008 1/16/2009 1/30/2009 2/6/2009 6,300,000 12/19/2008 1/30/2009 12/23/2008 923,640 1,549,000 22 726,768 29 6,959,475 18 481,250 11 Continued on next page 452 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 CPP-RELATED DIVIDEND RATE INCREASES, AS OF 3/31/2016 (CONTINUED) Number of Missed Dividend Paymentsb $7,601,750 20 2,911,200 12 Location Investment Date Royal Bancshares of Pennsylvania, Inc. Narberth, PA 2/20/2009 Central Bancorp, Inc. Garland, TX 2/27/2009 Community First Inc. Columbia, TN 2/27/2009 Liberty Shares, Inc. Hinesville, GA 2/20/2009 5,981,040 21 Northern States Financial Corporation Waukegan, IL 2/20/2009 3,872,475 18 White River Bancshares Company Fayetteville, AR 2/20/2009 3,204,600 14 Bank of the Carolinas Corporation Mocksville, NC 4/17/2009 2,306,325 14 HCSB Financial Corporation Loris, SC 3/6/2009 4,287,588 21 Community First Bancshares, Inc. Harrison, AR 4/3/2009 Farmers & Merchants Bancshares, Inc. (Allegiance Bancshares, Inc.) Houston, TX 3/6/2009 Regent Bancorp, Inc. Davie, FL 3/6/2009 City National Bancshares Corporation Newark, NJ 4/10/2009 2,973,285 22 Provident Community Bancshares, Inc. Rock Hill, SC 3/13/2009 1,737,375 15 United American Bank San Mateo, CA 2/20/2009 2,482,702 21 Private Bancorporation, Inc. Minneapolis, MN 2/27/2009 Highlands Independent Bancshares, Inc. Sebring, FL 1,436,313 15 Capital Commerce Bancorp, Inc. Milwaukee, WI Georgia Primary Bank Atlanta, GA 1,113,163 18 Pinnacle Bank Holding Company, Inc. Orange City, FL 4,389,000 1,682,400 23 Metropolitan Capital Bancorp, Inc. Chicago, IL 4/10/2009 Premier Service Bank Riverside, CA 2/20/2009 977,972 18 Allied First Bancorp, Inc. Oswego, IL 4/24/2009 3,652,000 1,201,223 19 Marine Bank & Trust Company Vero Beach, FL 613,125 15 St. Johns Bancshares, Inc. St. Louis, MO Freeport Bancshares, Inc.c Freeport, IL Prairie Star Bancshares, Inc. Olathe, KS 4/3/2009 913,150 21 Citizens Bank & Trust Company Covington, LA 3/20/2009 163,500 5 CSRA Bank Corp. Wrens, GA 3/27/2009 717,300 19 Crazy Woman Creek Bancorp, Inc. Buffalo, WY 2/20/2009 Market Bancorporation, Inc. New Market, MN 2/20/2009 449,080 16 BCB Holding Company, Inc. Theodore, AL 4/3/2009 Maryland Financial Bank Towson, MD 3/27/2009 162,138 7 Kirksville Bancorp, Inc. Kirksville, MO 3/20/2009 Institutiona Outstanding Capital Amount Value of Missed Dividend/Interest Paymentsb Rate Increased 5/15/2014 $17,280,000 12,895,000 3/6/2009 4/10/2009 5/1/2009 3/6/2009 3/6/2009 3/13/2009 3,000,000 5/8/2009 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 453 Rate Increased 8/15/2014 U.S. Century Bank Miami, FL Chambers Bancshares, Inc.d Danville, AR OneFinancial Corporatione Little Rock, AR Suburban Illinois Bancorp, Inc.f Elmhurst, IL 6/19/2009 Equity Bancshares, Inc. (First Community Bancshares, Inc.) Wichita, KS 5/15/2009 Great River Holding Companyg Baxter, MN 7/17/2009 Harbor Bankshares Corporation Baltimore, MD 7/17/2009 Covenant Financial Corporation Clarksdale, MS 6/5/2009 Duke Financial Group, Inc. Minneapolis, MN 6/19/2009 Chicago Shore Corporation Chicago, IL 7/31/2009 Community Bancshares, Inc. Kingman, AZ 7/24/2009 Grand Mountain Bancshares, Inc. Granby, CO 5/29/2009 SouthFirst Bancshares, Inc. Sylacauga, AL 6/12/2009 Riverside Bancshares, Inc.i Little Rock, AR 5/15/2009 Iselin, NJ 9/18/2009 Hattiesburg, MS 9/25/2009 Fort Worth, TX 12/4/2009 h 8/7/2009 $15,378,590 21 $17,300,000 7,404,139 16 2,466,660 14 6,800,000 2,363,000 23 3,076,000 1,309,745 27 78,728 6 299,255 11 5/29/2009 6/5/2009 Rate Increased 11/15/2014 IA Bancorp, Inc. Grand Financial Corporation j Rate Increased 2/15/2015 Liberty Bancshares, Inc. Wachusett Financial Services, Inc. Clinton, MA 12/11/2009 Atlantic Bancshares, Inc. Bluffton, SC 12/29/2009 Notes: Numbers may not total due to rounding. a These are the banks that were still in CPP at time rates started increasing. b Missed Payments and Number of Missed Payments are current for banks still in CPP and as of last quarter before exit for exited banks. c Freeport Bancshares, Inc. is an S-Corporation, so its interest rate increased from 7.7% to 13.8% on the five-year anniversary of Treasury’s investment (5/8/2009). d Chambers Bancshares, Inc. is an S-Corporation, so its interest rate increased from 7.7% to 13.8% on the five-year anniversary of Treasury’s investment (5/29/2009). e OneFinancial Corporation is an S-Corporation, so its interest rate increased from 7.7% to 13.8% on the five-year anniversary of Treasury’s investment (6/5/2009). f Suburban Illinois Bancorp, Inc. is an S-Corporation, so its interest rate increased from 7.7% to 13.8% on the five-year anniversary of Treasury’s investment (6/19/2009). g Great River Holding Company is an S-Corporation, so its interest rate increased from 7.7% to 13.8% on the five-year anniversary of Treasury’s investment (7/17/2009). h Duke Financial Group, Inc. is an S-Corporation, so its interest rate increased from 7.7% to 13.8% on the five-year anniversary of Treasury’s investment (6/19/2009). i Riverside Bancshares, Inc. is an S-Corporation, so its interest rate increased from 7.7% to 13.8% on the five-year anniversary of Treasury’s investment (5/15/2009). j Grand Financial Corporation is an S-Corporation, so its interest rate increased from 7.7% to 13.8% on the five-year anniversary of Treasury’s investment (9/25/2009). 454 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 TABLE E.2 CPP BANKS THAT REJECTED TREASURY OBSERVERS CPP Principal Investment Number of Missed Payments Value of Missed Payments $27,000,000 —a $— 3/11/2011 4/12/2011 Community Bankers Trust Corporation 17,680,000 —b — 10/18/2011 11/23/2011 White River Bancshares Companyc 16,800,000 14d 3,204,600 3/28/2012 4/27/2012 Timberland Bancorp, Inc.c 16,641,000 —e — 6/27/2011 8/18/2011 Alliance Financial Services Inc.c 12,000,000 12f 3,020,400 3/10/2011 5/6/2011 Central Virginia Bankshares, Inc.g 11,385,000 15h 2,134,688 3/9/2011 5/18/2012 Commonwealth Business Bankc 7,701,000 10i Pacific International Bancorp Institution Intermountain Community Bancorp Date of Rejection 1,049,250 8/13/2010 9/20/2010 6,500,000 k — — 9/23/2010 11/17/2010 5,983,000 j Rising Sun Bancorpm Omega Capital Corp. Date of Treasury Request 20 1,749,960 12/3/2010 2/28/2011 l 2,816,000 15 575,588 12/3/2010 1/13/2011 Citizens Bank & Trust Companyn 2,400,000 5 163,500 9/23/2010 11/17/2010 Saigon National Bank 1,549,000 29 726,768 8/13/2010 9/20/2010 c Notes: Numbers may not total due to rounding. a B ank later became current in accrued and unpaid dividends after missing the initial scheduled payment date(s). Prior to repayment, Intermountain Community Bancorp had 12 missed payments totaling $4.1 million. b B ank later became current in accrued and unpaid dividends after missing the initial scheduled payment date(s). Prior to repayment, Community Bankers had seven missed payments totaling $1.5 million. c B ank was sold at a loss at auction. d W hite River Bancshares Company was sold at auction and its missed payments to Treasury were not repaid. e B ank later became current in accrued and unpaid dividends after missing the initial scheduled payment date(s). Prior to repayment, Timberland had eight missed payments totaling $1.7 million. f A lliance Financial Services Inc. was sold at a loss at auction and its missed payments to Treasury were not repaid. g B ank accepted and then declined Treasury’s request to have a Treasury observer attend board of directors meetings. h C entral Virginia Bankshares, Inc. was sold to C&F Financial Corporation and its missed payments to Treasury were not repaid. i C ommonwealth Business Bank was sold at a loss at auction and its missed payments to Treasury were not repaid. j B ank has exited the Capital Purchase Program. k B ank later became current in accrued and unpaid dividends after missing the initial scheduled payment date(s). Prior to repayment, Pacific International Bancorp had 10 missed payments totaling $0.8 million. l O mega Capital Corp. was sold at a loss at auction and its missed payments to Treasury were not repaid. m R ising Sun Bancorp entered bankruptcy and its missed payments to Treasury were not repaid. n C itizens Bank & Trust Company was sold at a loss at auction and its missed payments to Treasury were not repaid. Source: Treasury, Dividends and Interest Report, 4/11/2016. CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 455 TABLE E.3 CPP-RELATED MISSED DIVIDEND AND INTEREST PAYMENTS, AS OF 3/31/2016 Company Dividend or Payment Type Number of Missed Payments Saigon National Bank Non-Cumulative One United Bank Observers Assigned to Board of Directors2 Value of Missed Payments3 Value of Unpaid Amounts3,4,5 29 $726,768 $726,768 Interest 28 5,187,090 5,187,090 Grand Mountain Bancshares, Inc. Cumulative 27 1,309,745 1,309,745 Citizens Commerce Bancshares, Inc. Cumulative 26 2,735,775 2,735,775 Cecil Bancorp, Inc. Cumulative 25 4,537,300 4,537,300 Harbor Bankshares Corporation** Cumulative 23 2,533,000 2,363,000 Pinnacle Bank Holding Company Cumulative 23 1,682,400 1,682,400 Liberty Shares, Inc. Cumulative 22 6,389,280 6,389,280 Tidelands Bancshares, Inc Cumulative 22 5,129,040 5,129,040 HCSB Financial Corporation Cumulative 21 4,287,588 4,287,588 Allied First Bancorp, Inc. Cumulative 19 1,201,223 1,201,223 Non-Cumulative 16 7,404,139 7,404,139 Non-Cumulative 23 1,059,242 1,059,242 City National Bancshares Corporation Cumulative 22 2,973,285 2,973,285 OneFinancial Corporation *,** Exchanges, Sales, Recapitalizations, and Failed Banks Lone Star Bank***** ***** Goldwater Bank, N.A. Non-Cumulative 22 923,640 923,640 CalWest Bancorp Cumulative 21 1,685,213 1,685,213 Prairie Star Bancshares, Inc.***** Cumulative 21 913,150 913,150 United American Bank***** Non-Cumulative 21 2,482,702 2,482,702 U.S. Century Bank Non-Cumulative 21 15,378,590 15,378,590 Cumulative 20 1,749,960 1,749,960 Royal Bancshares of Pennsylvania, Inc. Cumulative 20 7,601,750 7,601,750 CSRA Bank Corp. Cumulative 19 717,300 717,300 Idaho Bancorp Cumulative 19 1,786,238 1,786,238 Blue Valley Ban Corp***** Cumulative 18 4,893,750 4,893,750 Pacific City Financial Corporation Cumulative 18 3,973,050 3,973,050 Centrue Financial Corporation Cumulative 18 6,959,475 6,959,475 Georgia Primary Bank Non-Cumulative 18 1,113,163 1,113,163 Northern States Financial Corp***** Cumulative 18 3,872,475 3,872,475 Western Community Bancshares, Inc. Cumulative 17 1,834,538 1,834,538 Anchor BanCorp Wisconsin, Inc.**** Cumulative 17 23,604,167 23,604,167 First Banks, Inc. Cumulative 17 64,543,063 64,543,063 US Metro Bank Non-Cumulative 17 891,540 891,540 **,***** Rising Sun Bancorp **** ***** ***** **** ***** ***** ***** ***** **,***** Continued on next page 456 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 CPP-RELATED MISSED DIVIDEND AND INTEREST PAYMENTS, AS OF 3/31/2016 Company Dividend or Payment Type Syringa Bancorp**** Cumulative Market Bancorporation, Inc. Number of Missed Payments Observers Assigned to Board of Directors2 (CONTINUED) Value of Missed Payments3 Value of Unpaid Amounts3,4,5 17 $1,853,000 $1,853,000 Cumulative 16 449,080 449,080 Provident Community Bancshares, Inc. Cumulative 15 1,737,375 1,737,375 Central Virginia Bankshares, Inc. Cumulative 15 2,134,688 2,134,688 Omega Capital Corp.***** Cumulative 15 575,588 575,588 Rogers Bancshares, Inc.**** Cumulative 15 5,109,375 5,109,375 Pathway Bancorp***** Cumulative 15 761,588 761,588 Cumulative 15 7,766,250 7,766,250 Cumulative 15 688,913 688,913 Midtown Bank & Trust Company Non-Cumulative 15 1,067,213 1,067,213 TCB Holding Company**** Cumulative 15 2,397,488 2,397,488 Provident Community Bancshares, Inc. Cumulative 15 1,737,375 1,737,375 Marine Bank & Trust Company***** Non-Cumulative 15 613,125 613,125 Highlands Independent Bancshares, Inc. Cumulative 15 1,436,313 1,436,313 NCAL Bancorp Cumulative 14 2,207,500 2,207,500 1st FS Corporation***** Cumulative 14 2,864,575 2,864,575 Cumulative 14 27,859,720 27,859,720 Cumulative 14 4,013,730 4,013,730 Ridgestone Financial Services, Inc. Cumulative 14 2,079,175 2,079,175 Intervest Bancshares Corporation***** Cumulative 14 4,375,000 4,375,000 Fidelity Federal Bancorp***** Cumulative 14 1,229,924 1,229,924 Premierwest Bancorp Cumulative 14 7,245,000 7,245,000 ***** Bridgeview Bancorp, Inc.***** Madison Financial Corporation ***** **,***** ***** ***** ***** Dickinson Financial Corporation II ***** FC Holdings, Inc. ***** ***** ***** SouthFirst Bancshares, Inc. Cumulative 14 609,270 609,270 Great River Holding Company*,**,***** Cumulative 14 2,466,660 2,466,660 Bank of the Carolinas Corporation***** Cumulative 14 2,306,325 2,306,325 White River Bancshares Company***** Cumulative 14 3,204,600 3,204,600 Porter Bancorp, Inc. Cumulative 13 6,737,500 6,737,500 ***** First Southwest Bancorporation, Inc. Cumulative 13 974,188 974,188 Tennessee Valley Financial Holdings, Inc.***** Cumulative 13 531,375 531,375 First Sound Bank***** Non-Cumulative 13 1,202,500 1,202,500 ***** Pacific Commerce Bank Non-Cumulative 13 751,089 695,771 Patriot Bancshares, Inc.***** Cumulative 13 4,612,010 4,612,010 Stonebridge Financial Corp.***** Cumulative 12 1,794,180 1,794,180 Premier Financial Corp*,**,***** Interest 12 1,597,857 1,597,857 **,***** Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 CPP-RELATED MISSED DIVIDEND AND INTEREST PAYMENTS, AS OF 3/31/2016 Dividend or Payment Type Company Number of Missed Payments Observers Assigned to Board of Directors2 457 (CONTINUED) Value of Missed Payments3 Value of Unpaid Amounts3,4,5 Citizens Bancshares Co. (MO)**** Cumulative 12 $4,086,000 $4,086,000 Northwest Bancorporation, Inc. Cumulative 12 1,716,750 1,716,750 Plumas Bancorp Cumulative 12 1,792,350 1,792,350 Gold Canyon Bank**** Non-Cumulative 12 254,010 254,010 Santa Clara Valley Bank, N.A Non-Cumulative 12 474,150 474,150 Spirit BankCorp, Inc.***** Cumulative 12 4,905,000 4,905,000 Alliance Financial Services, Inc.*,***** Interest 12 3,020,400 3,020,400 ***** ***** .***** First Trust Corporation Interest 12 4,522,611 4,522,611 Community First, Inc.***** Cumulative 12 2,911,200 2,911,200 Eastern Virginia Bankshares, Inc. Cumulative 11 3,300,000 3,300,000 *,***** ***** The Queensborough Company Cumulative 11 1,798,500 1,798,500 Boscobel Bancorp, Inc.*,***** Interest 11 1,288,716 1,288,716 Investors Financial Corporation of Pettis County, Inc.* Interest 11 922,900 922,900 Florida Bank Group, Inc.***** Cumulative 11 3,068,203 3,068,203 Reliance Bancshares, Inc.***** Cumulative 11 5,995,000 5,995,000 Village Bank and Trust Financial Corp. Cumulative 11 2,026,475 2,026,475 AB&T Financial Corporation***** Cumulative 11 481,250 481,250 Cumulative 11 299,255 299,255 First Financial Service Corporation Cumulative 10 2,500,000 2,500,000 Old Second Bancorp, Inc. Cumulative 10 9,125,000 9,125,000 Security State Bank Holding-Company*,**,***** Interest 10 2,931,481 2,254,985 Bank of George Non-Cumulative 10 364,150 364,150 Valley Community Bank***** Non-Cumulative 10 749,375 749,375 ***** ***** Atlantic Bancshares, Inc.***** ***** ***** ***** Commonwealth Business Bank Non-Cumulative 10 1,049,250 1,049,250 Gregg Bancshares, Inc.**** Cumulative 9 101,115 101,115 Metropolitan Bank Group, Inc./NC Bancorp, Inc.*** Cumulative 9 12,716,368 9,511,543 National Bancshares, Inc.***** Cumulative 9 3,024,383 3,024,383 Cumulative 9 1,581,863 1,581,863 Cumulative 9 1,275,300 1,275,300 Community Pride Bank Corporation Interest 9 803,286 803,286 Premier Bank Holding Company**** Cumulative 9 1,164,938 1,164,938 RCB Financial Corporation***** Cumulative 9 1,055,520 1,055,520 Central Federal Corporation***** Cumulative 8 722,500 722,500 ***** SouthCrest Financial Group, Inc. ***** Citizens Bancorp**** *,**,***** Continued on next page 458 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 CPP-RELATED MISSED DIVIDEND AND INTEREST PAYMENTS, AS OF 3/31/2016 Dividend or Payment Type Company Number of Missed Payments Observers Assigned to Board of Directors2 (CONTINUED) Value of Missed Payments3 Value of Unpaid Amounts3,4,5 CoastalSouth Bancshares, Inc.***** Cumulative 8 $1,687,900 $1,687,900 HMN Financial, Inc. Cumulative 8 2,600,000 2,600,000 One Georgia Bank**** Non-Cumulative 8 605,328 605,328 Independent Bank Corporation Cumulative 8 14,193,996 6,164,420 First Intercontinental Bank***** Non-Cumulative 8 697,400 697,400 Cumulative 8 1,090,000 1,090,000 Cascade Financial Corporation Cumulative 7 3,409,875 3,409,875 Integra Bank Corporation**** Cumulative 7 7,313,775 7,313,775 Princeton National Bancorp, Inc. Cumulative 7 2,194,763 2,194,763 Brogan Bankshares, Inc.* Interest 7 352,380 352,380 Maryland Financial Bank Non-Cumulative 7 162,138 162,138 Severn Bancorp, Inc.***** Cumulative 6 1,754,475 1,754,475 Central Pacific Financial Corp.***,10 Cumulative 6 10,125,000 — Coastal Banking Company, Inc.***** Cumulative 6 995,000 746,250 First Reliance Bancshares, Inc.***** Cumulative 6 1,254,720 1,254,720 FNB United Corp. Cumulative 6 3,862,500 — FPB Bancorp, Inc. (FL)**** Cumulative 6 435,000 435,000 Indiana Bank Corp.**** Cumulative 6 107,310 107,310 Naples Bancorp, Inc.***** Cumulative 6 327,000 327,000 ***** *** Coloeast Bankshares, Inc. ***** ***** **** ***** *** First Place Financial Corp. Cumulative 6 5,469,525 5,469,525 Worthington Financial Holdings, Inc.***** Cumulative 6 222,360 222,360 Fort Lee Federal Savings Bank Non-Cumulative 6 106,275 106,275 Alarion Financial Services, Inc.***** Cumulative 6 532,560 532,560 IA Bancorp, Inc. Cumulative 6 551,093 472,365 Citizens Bank & Trust Company Non-Cumulative 5 163,500 163,500 Community Financial Shares, Inc.*** Cumulative 5 759,820 430,215 Delmar Bancorp***** Cumulative 5 613,125 613,125 First BanCorp (PR)*** Cumulative 5 42,681,526 — First Federal Bancshares of Arkansas, Inc.***** Cumulative 5 1,031,250 1,031,250 Flagstar Bancorp, Inc.***** Cumulative 5 16,666,063 16,666,063 Midwest Banc Holdings, Inc.6 Cumulative 5 4,239,200 4,239,200 Pacific Capital Bancorp Cumulative 5 13,547,550 — GulfSouth Private Bank**** Non-Cumulative 5 494,063 494,063 **** **,***** ***** ***,10 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 CPP-RELATED MISSED DIVIDEND AND INTEREST PAYMENTS, AS OF 3/31/2016 Observers Assigned to Board of Directors2 459 (CONTINUED) Dividend or Payment Type Number of Missed Payments Northwest Commercial Bank**** Non-Cumulative 5 CB Holding Corp. Cumulative 4 224,240 224,240 Colony Bankcorp, Inc.***** Cumulative 4 1,400,000 1,400,000 First Community Bank Corporation of America***** Cumulative 4 534,250 534,250 Green Bankshares, Inc.***** Cumulative 4 3,613,900 3,613,900 Hampton Roads Bankshares, Inc.***,10 Cumulative 4 4,017,350 4,017,350 Pierce County Bancorp Cumulative 4 370,600 370,600 Santa Lucia Bancorp***** Cumulative 4 200,000 200,000 Sterling Financial Corporation (WA Cumulative 4 18,937,500 18,937,500 Company **** **** )***,10 Value of Missed Payments3 Value of Unpaid Amounts3,4,5 $135,750 $135,750 TIB Financial Corp Cumulative 4 1,850,000 1,850,000 Community Bank of the Bay7 Non-Cumulative 4 72,549 72,549 The Bank of Currituck Non-Cumulative 4 219,140 219,140 The Connecticut Bank and Trust Company***** Non-Cumulative 4 246,673 246,673 Plato Holdings Inc.*,***** Interest 4 207,266 207,266 Virginia Company Bank Non-Cumulative 3 185,903 185,903 Blue River Bancshares, Inc.**** Cumulative 3 204,375 204,375 Community West Bancshares Cumulative 3 585,000 585,000 Legacy Bancorp, Inc.**** Cumulative 3 206,175 206,175 Sonoma Valley Bancorp Cumulative 3 353,715 353,715 *****,8 ***** ***** ***** **** Superior Bancorp Inc. Cumulative 3 2,587,500 2,587,500 Tennessee Commerce Bancorp, Inc.**** Cumulative 3 1,125,000 1,125,000 The South Financial Group, Inc. Cumulative 3 13,012,500 13,012,500 Treaty Oak Bancorp, Inc.***** Cumulative 3 133,553 133,553 Bank of Commerce ***** Non-Cumulative 3 122,625 122,625 Carolina Trust Bank***** Non-Cumulative 3 150,000 150,000 Commerce National Bank Non-Cumulative 3 150,000 150,000 Cadence Financial Corporation***** Cumulative 2 550,000 550,000 First Alliance Bancshares, Inc. Cumulative 2 93,245 93,245 Pacific Coast National Bancorp Cumulative 2 112,270 112,270 The Baraboo Bancorporation, Inc.***** Cumulative 2 565,390 565,390 Colonial American Bank Non-Cumulative 2 15,655 15,655 Fresno First Bank*** Non-Cumulative 2 33,357 33,357 Interest 2 123,127 **** ***** ,8 ***** **** ***** FBHC Holding Company *,***** 123,127 Continued on next page 460 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 CPP-RELATED MISSED DIVIDEND AND INTEREST PAYMENTS, AS OF 3/31/2016 Dividend or Payment Type Company Number of Missed Payments Observers Assigned to Board of Directors2 (CONTINUED) Value of Missed Payments3 Value of Unpaid Amounts3,4,5 Gateway Bancshares, Inc. Cumulative 2 $163,500 $163,500 CIT Group Inc. Cumulative 2 29,125,000 29,125,000 UCBH Holdings, Inc.**** Cumulative 1 3,734,213 3,734,213 Exchange Bank Non-Cumulative 1 585,875 585,875 Tifton Banking Company**** Non-Cumulative 1 51,775 51,775 $607,341,928 $524,332,054 ****,9 ***** Total Notes: Numbers may not total due to rounding. Approximately $40.6 million of the $524.3 million in unpaid CPP dividend/interest payments are non-cumulative and Treasury has no legal right to missed dividends that are non-cumulative. * Missed interest payments occur when a Subchapter S recipient fails to pay Treasury interest on a subordinated debenture in a timely manner. ** Partial payments made after the due date. *** Completed an exchange with Treasury. For an exchange of mandatorily convertible preferred stock or trust preferred securities, dividend payments normally continue to accrue. For an exchange of mandatorily preferred stock for common stock, no additional preferred dividend payments will accrue. **** Filed for bankruptcy or subsidiary bank failed. For completed bankruptcy proceedings, Treasury’s investment was extinguished and no additional dividend payments will accrue. For bank failures, Treasury may elect to file claims with bank receivers to collect current and/or future unpaid dividends. ***** Treasury sold or is selling its CPP investment to the institution or a third party. No additional preferred dividend payments will accrue after a sale, absent an agreement to the contrary. Treasury has appointed one or more directors to the Board of Directors. Treasury has assigned an observer to the Board of Directors. S IGTARP and Treasury do not use the same methodology to report unpaid dividend and interest payments. For example, Treasury generally excludes institutions SIGTARP would include, such as those: (i) that have completed a recapitalization, restructuring, or exchange with Treasury (though Treasury does report such institutions as non-current during the pendency of negotiations); (ii) for which Treasury sold the CPP investment to a third party, or otherwise disposed of the investment to facilitate the sale of the institution to a third party; (iii) that filed for bankruptcy relief; or (iv) that had a subsidiary bank fail. If a completed transaction resulted in payment to Treasury for all unpaid dividends and interest, SIGTARP does not include the institution’s obligations under unpaid amounts. 2 F or First BanCorp and Pacific Capital Bancorp, Treasury had a contractual right to assign an observer to the board of directors. For the remainder, Treasury obtained consent from the institution to assign an observer to the board of directors. 3 I ncludes unpaid cumulative dividends, non-cumulative dividends, and Subchapter S interest payments but does not include interest accrued on unpaid cumulative dividends. 4 E xcludes institutions that missed payments but (i) have fully caught-up or exchanged new securities for missed payments, or (ii) have repaid their investment amounts and exited the Capital Purchase Program. 5 I ncludes institutions that missed payments and (i) completed an exchange with Treasury for new securities, (ii) purchased their CPP investment from Treasury, or saw a third party purchase its CPP investment from Treasury, or (iii) are in, or have completed bankruptcy proceedings or its subsidiary bank failed. 6 F or Midwest Banc Holdings, Inc., the number of missed payments is the number last reported from SIGTARP Quarterly Report to Congress 4/20/2010, prior to bankruptcy filing; missed payment amounts are from Treasury’s response to SIGTARP data call, 10/13/2010. 7 T reasury reported four missed payments by Community Bank of the Bay before it was allowed to transfer from CPP to CDCI. Upon transfer, Treasury reset the number of missed payments to zero. 8 F or South Financial Group, Inc. and TIB Financial Corp, the number of missed payments and unpaid amounts reflect figures Treasury reported prior to the sale. 9 F or CIT Group Inc., the number of missed payments is from the number last reported from SIGTARP Quarterly Report to Congress 1/30/2010, shortly after the bankruptcy filing; missed payment amounts are from Treasury’s response to SIGTARP data call, 10/13/2010. 10 C ompleted exchanges: - The exchange between Treasury and Hampton Roads, and the exchange between Treasury and Sterling Financial did not account for unpaid dividends. The number of missed payments and unpaid amounts reflect the figures Treasury reported prior to the exchange. - The exchange between Treasury and Central Pacific Financial Corp., and the exchange between Treasury and Pacific Capital Bancorp did account for unpaid dividends, thereby eliminating any unpaid amounts. The number of missed payments reflects the amount Treasury reported prior to the exchange. 1 Sources: Treasury, Dividends and Interest Report, 4/11/2016; Treasury, response to SIGTARP data call, 4/4/2016. CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 TABLE E.4 REALIZED LOSSES AND WRITE-OFFS IN CPP, AS OF 3/31/2016 Institution ($ MILLIONS) TARP Investment Loss $4 $2 12/3/2010 Sale of preferred stock at a loss Date Description Realized Losses The Bank of Currituck Treaty Oak Bancorp, Inc. 3 3 2/15/2011 Sale of preferred stock at a loss 44 6 3/4/2011 Sale of preferred stock at a loss 3 2 3/9/2011 First Federal Bancshares of Arkansas, Inc. 17 11 5/3/2011 Sale of preferred stock at a loss First Community Bank Corporation of America 11 3 5/31/2011 Sale of preferred stock at a loss Cascade Financial Corporation 39 23 6/30/2011 Sale of preferred stock at a loss Green Bankshares, Inc. 72 4 9/7/2011 Sale of preferred stock at a loss 4 1 Cadence Financial Corporation FBHC Holding Company Santa Lucia Bancorp Banner Corporation/Banner Bank 10/21/2011 Sale of subordinated debentures at a loss Sale of preferred stock at a loss 124 14 4/3/2012 Sale of preferred stock at a loss First Financial Holdings Inc. 65 8 4/3/2012 Sale of preferred stock at a loss MainSource Financial Group, Inc. 57 4 4/3/2012 Sale of preferred stock at a loss Seacoast Banking Corporation of Florida 50 9 4/3/2012 Sale of preferred stock at a loss Wilshire Bancorp, Inc. 62 4 4/3/2012 Sale of preferred stock at a loss WSFS Financial Corporation Central Pacific Financial Corp. 53 4 135 62 4/3/2012 Sale of preferred stock at a loss 4/4/2012 Sale of common stock at a loss Ameris Bancorp 52 4 6/19/2012 Sale of preferred stock at a loss Farmers Capital Corporation 30 8 6/19/2012 Sale of preferred stock at a loss First Capital Bancorp, Inc. 11 1 6/19/2012 Sale of preferred stock at a loss First Defiance Financial Corp. 37 1 6/19/2012 Sale of preferred stock at a loss LNB Bancorp, Inc. 25 3 6/19/2012 Sale of preferred stock at a loss 105 11 21 4 Taylor Capital Group, Inc. United Bancorp, Inc. 6/19/2012 Sale of preferred stock at a loss 6/19/2012 Sale of preferred stock at a loss Fidelity Southern Corporation 48 5 7/3/2012 Sale of preferred stock at a loss First Citizens Banc Corp 21 2 7/3/2012 Sale of preferred stock at a loss Firstbank Corporation 33 2 7/3/2012 Sale of preferred stock at a loss Metrocorp Bancshares, Inc. 45 1 7/3/2012 Sale of preferred stock at a loss Peoples Bancorp of North Carolina, Inc. 25 2 7/3/2012 Sale of preferred stock at a loss Pulaski Financial Corp. 33 4 7/3/2012 Sale of preferred stock at a loss Southern First Bancshares, Inc. 17 2 7/3/2012 Sale of preferred stock at a loss 4 3 7/12/2012 Sale of preferred stock at a loss 20 5 8/9/2012 Sale of preferred stock at a loss Naples Bancorp, Inc. Commonwealth Bancshares, Inc. Diamond Bancorp, Inc. 20 6 8/9/2012 Sale of preferred stock at a loss Fidelity Financial Corporation 36 4 8/9/2012 Sale of preferred stock at a loss Market Street Bancshares, Inc. 20 2 8/9/2012 Sale of preferred stock at a loss CBS Banc-Corp. 24 2 8/10/2012 Sale of preferred stock at a loss Continued on next page 461 462 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 REALIZED LOSSES AND WRITE-OFFS IN CPP, AS OF 3/31/2016 Institution Marquette National Corporation Park Bancorporation, Inc. Premier Financial Bancorp, Inc. TARP Investment Loss $36 $10 23 6 ($ MILLIONS) (CONTINUED) Date 8/10/2012 Description Sale of preferred stock at a loss 8/10/2012 Sale of preferred stock at a loss 7 2 8/10/2012 Sale of preferred stock at a loss Trinity Capital Corporation 36 9 8/10/2012 Sale of preferred stock at a loss Exchange Bank 43 5 8/13/2012 Sale of preferred stock at a loss Millennium Bancorp, Inc. Sterling Financial Corporation 7 4 303 188 8/14/2012 Sale of preferred stock at a loss 8/20/2012 Sale of preferred stock at a loss BNC Bancorp 31 2 8/29/2012 Sale of preferred stock at a loss First Community Corporation 11 0 8/29/2012 Sale of preferred stock at a loss First National Corporation 14 2 8/29/2012 Sale of preferred stock at a loss Mackinac Financial Corporation 11 1 8/29/2012 Sale of preferred stock at a loss Yadkin Valley Financial Corporation 13 5 9/18/2012 Sale of preferred stock at a loss Alpine Banks of Colorado 70 13 9/20/2012 Sale of preferred stock at a loss F&M Financial Corporation (NC) 17 1 9/20/2012 Sale of preferred stock at a loss F&M Financial Corporation (TN) 17 4 9/21/2012 Sale of preferred stock at a loss First Community Financial Partners, Inc. 22 8 9/21/2012 Sale of preferred stock at a loss Central Federal Corporation 7 4 9/26/2012 Sale of preferred stock at a loss Congaree Bancshares, Inc. 3 0.6 10/31/2012 Sale of preferred stock at a loss Metro City Bank 8 0.8 12 3 10/31/2012 Sale of preferred stock at a loss Germantown Capital Corporation 5 0.4 10/31/2012 Sale of preferred stock at a loss First Gothenburg Bancshares, Inc. 8 0.7 10/31/2012 Sale of preferred stock at a loss 10 0.9 10/31/2012 Sale of preferred stock at a loss Centerbank 2 0.4 10/31/2012 Sale of preferred stock at a loss The Little Bank, Incorporated 8 0.1 10/31/2012 Sale of preferred stock at a loss Oak Ridge Financial Services, Inc. 8 0.6 Peoples Bancshares of TN, Inc. 4 1 10/31/2012 Sale of preferred stock at a loss Hometown Bankshares Corporation 10 0.8 10/31/2012 Sale of preferred stock at a loss Western Illinois Bancshares, Inc. 11 0.7 11/9/2012 Sale of preferred stock at a loss Capital Pacific Bancorp 4 0.2 11/9/2012 Sale of preferred stock at a loss Three Shores Bancorporation, Inc. 6 0.6 11/9/2012 Sale of preferred stock at a loss Regional Bankshares, Inc. 2 0.1 11/9/2012 Sale of preferred stock at a loss Timberland Bancorp, Inc. Blue Ridge Bancshares, Inc. Blackhawk Bancorp, Inc. 10/31/2012 Sale of preferred stock at a loss 10/31/2012 Sale of preferred stock at a loss 17 2 11/9/2012 Sale of preferred stock at a loss First Freedom Bancshares, Inc. 9 0.7 11/9/2012 Sale of preferred stock at a loss BankGreenville Financial Corporation 1 0.1 11/9/2012 Sale of preferred stock at a loss F&C Bancorp. Inc. 3 0.1 11/13/2012 Sale of subordinated debentures at a loss 12 0.4 11/13/2012 Sale of subordinated debentures at a loss 5 2 11/13/2012 Sale of preferred stock at a loss Farmers Enterprises, Inc. Franklin Bancorp, Inc. Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 REALIZED LOSSES AND WRITE-OFFS IN CPP, AS OF 3/31/2016 ($ MILLIONS) (CONTINUED) TARP Investment Loss Sound Banking Company $3 $0.2 Parke Bancorp, Inc. 16 5 11/29/2012 Sale of preferred stock at a loss Country Bank Shares, Inc. 8 0.6 11/29/2012 Sale of preferred stock at a loss Clover Community Bankshares, Inc. 3 0.4 11/29/2012 Sale of preferred stock at a loss CBB Bancorp 4 0.3 11/29/2012 Sale of preferred stock at a loss Alaska Pacific Bancshares, Inc. 5 0.5 Trisummit Bank 7 2 11/29/2012 Sale of preferred stock at a loss Layton Park Financial Group, Inc. 3 0.6 11/29/2012 Sale of preferred stock at a loss Community Bancshares of Mississippi, Inc. (Community Holding Company of Florida, Inc.) 1 0.1 11/30/2012 Sale of preferred stock at a loss FFW Corporation 7 0.7 11/30/2012 Sale of preferred stock at a loss Hometown Bancshares, Inc. 2 0.1 11/30/2012 Sale of preferred stock at a loss Bank of Commerce 3 0.5 11/30/2012 Sale of preferred stock at a loss Corning Savings And Loan Association 1 0.1 11/30/2012 Sale of preferred stock at a loss Carolina Trust Bank 4 0.6 11/30/2012 Sale of preferred stock at a loss Community Business Bank 4 0.3 11/30/2012 Sale of preferred stock at a loss KS Bancorp, Inc. 4 0.7 11/30/2012 Sale of preferred stock at a loss 195 15 11/30/2012 Sale of common stock at a loss 16 4 12/11/2012 Sale of preferred stock at a loss Institution Pacific Capital Bancorp Community West Bancshares Date Description 11/13/2012 Sale of preferred stock at a loss 11/29/2012 Sale of preferred stock at a loss Presidio Bank 11 2 12/11/2012 Sale of preferred stock at a loss The Baraboo Bancorporation, Inc. 21 7 12/11/2012 Sale of preferred stock at a loss 2 0.7 12/11/2012 Sale of preferred stock at a loss 22 2 12/11/2012 Sale of preferred stock at a loss Manhattan Bancshares, Inc. 3 0.1 12/11/2012 Sale of subordinated debentures at a loss First Advantage Bancshares, Inc. 1 0.1 12/11/2012 Sale of preferred stock at a loss Community Investors Bancorp, Inc. 3 0.1 12/20/2012 Sale of preferred stock at a loss First Business Bank, National Association 4 0.4 12/20/2012 Sale of preferred stock at a loss Bank Financial Services, Inc. 1 0.1 12/20/2012 Sale of preferred stock at a loss 10 0.2 12/20/2012 Hyperion Bank 2 0.5 12/21/2012 Sale of preferred stock at a loss First Independence Corporation 3 0.9 12/21/2012 Sale of preferred stock at a loss Security Bancshares of Pulaski County, Inc. Central Community Corporation Century Financial Services Corporation Sale of subordinated debentures at a loss First Alliance Bancshares, Inc. 3 1 12/21/2012 Sale of preferred stock at a loss Community Financial Shares, Inc. 7 4 12/21/2012 Sale of preferred stock at a loss 12 3 6 0.2 2/8/2013 25 12 2/8/2013 Sale of preferred stock at a loss Alliance Financial Services, Inc. Biscayne Bancshares, Inc. Citizens Bancshares Co. 2/7/2013 Sale of preferred stock at a loss Sale of subordinated debentures at a loss Continued on next page 463 464 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 REALIZED LOSSES AND WRITE-OFFS IN CPP, AS OF 3/31/2016 Institution Colony Bankcorp, Inc. Delmar Bancorp Dickinson Financial Corporation II TARP Investment Loss $28 $6 9 3 ($ MILLIONS) (CONTINUED) Date 2/8/2013 Description Sale of preferred stock at a loss 2/8/2013 Sale of preferred stock at a loss 146 65 2/8/2013 F&M Bancshares, Inc. 4 0.5 2/8/2013 Sale of preferred stock at a loss First Priority Financial Corp. 5 1 2/8/2013 Sale of preferred stock at a loss 26 7 2/8/2013 Sale of preferred stock at a loss 6 0.4 2/8/2013 Sale of preferred stock at a loss HMN Financial, Inc. Waukesha Bankshares, Inc. Sale of preferred stock at a loss FC Holdings, Inc. 21 2 2/20/2013 Sale of preferred stock at a loss First Sound Bank 7 4 2/20/2013 Sale of preferred stock at a loss 18 4 2/20/2013 First Trust Corporation Sale of subordinated debentures at a loss National Bancshares, Inc. 25 6 2/20/2013 Sale of preferred stock at a loss Ridgestone Financial Services, Inc. 11 2 2/20/2013 Sale of preferred stock at a loss Carolina Bank Holdings, Inc. 16 1 2/21/2013 Sale of preferred stock at a loss Santa Clara Valley Bank, N.A. 3 0.4 3/8/2013 Sale of preferred stock at a loss 10 0.4 3/11/2013 Sale of preferred stock at a loss Coastal Banking Company, Inc. CoastalSouth Bancshares, Inc. 16 3 3/11/2013 Sale of preferred stock at a loss First Reliance Bancshares, Inc. 15 5 3/11/2013 Sale of preferred stock at a loss Southcrest Financial Group, Inc. 13 1 3/11/2013 Sale of preferred stock at a loss The Queensborough Company 12 0.3 3/11/2013 Sale of preferred stock at a loss Old Second Bancorp, Inc. 73 47 3/27/2013 Sale of preferred stock at a loss Stonebridge Financial Corp. 11 9 3/27/2013 Sale of preferred stock at a loss Alliance Bancshares, Inc. 3 0.1 3/28/2013 Sale of preferred stock at a loss Amfirst Financial Services, Inc 5 0.2 3/28/2013 First Southwest Bancorporation, Inc. 6 0.5 3/28/2013 Sale of preferred stock at a loss Flagstar Bancorp, Inc. 267 24 3/28/2013 Sale of preferred stock at a loss United Community Banks, Inc. 180 7 3/28/2013 Sale of preferred stock at a loss First Security Group, Inc. BancStar, Inc. Sale of subordinated debentures at a loss 33 18 Exchange of preferred stock at 4/11/2013 a loss 9 0.1 4/26/2013 Sale of preferred stock at a loss NewBridge Bancorp 52 1 4/29/2013 Sale of preferred stock at a loss First Financial Service Corporation 20 9 4/29/2013 Sale of preferred stock at a loss Guaranty Federal Bancshares, Inc. 17 0.4 4/29/2013 Sale of preferred stock at a loss Intervest Bancshares Corporation 25 1 6/24/2013 Sale of preferred stock at a loss First Western Financial, Inc. 20 3 6/24/2013 Sale of preferred stock at a loss Worthington Financial Holdings, Inc. 3 0.4 6/24/2013 Sale of preferred stock at a loss Farmers & Merchants Financial Corporation 0 0.1 6/24/2013 Sale of preferred stock at a loss Metropolitan Bank Group, Inc. 82 49 6/28/2013 Sale of preferred stock at a loss Alarion Financial Services, Inc. 7 0.1 7/22/2013 Sale of preferred stock at a loss Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 REALIZED LOSSES AND WRITE-OFFS IN CPP, AS OF 3/31/2016 Institution Anchor Bancorp Wisconsin, Inc. Centrue Financial Corporation ($ MILLIONS) (CONTINUED) TARP Investment Loss $110 $104 9/27/2013 Sale of common stock at a loss 33 22 10/18/2013 Sale of preferred stock at a loss Date ColoEast Bankshares, Inc. 10 1 Commonwealth Business Bank 20 0.4 7/17/2013 Sale of preferred stock at a loss Crosstown Holding Company 11 0.2 7/22/2013 Sale of preferred stock at a loss Desoto County Bank First Banks, Inc. First Intercontinental Bank 7/22/2013 Description Sale of preferred stock at a loss 3 0.5 9/25/2013 Sale of preferred stock at a loss 295 190 9/25/2013 Sale of preferred stock at a loss 6 3 8/12/2013 Sale of preferred stock at a loss 20 12 8/14/2013 Sale of preferred stock at a loss Mountain Valley Bancshares, Inc. 3 — 7/22/2013 Sale of preferred stock at a loss RCB Financial Corporation 9 1 9/25/2013 Sale of preferred stock at a loss Florida Bank Group, Inc. Severn Bancorp, Inc. 23 — 9/25/2013 Sale of preferred stock at a loss Universal Bancorp 10 0.5 8/12/2013 Sale of preferred stock at a loss 5 2 8/12/2013 Sale of preferred stock at a loss Virginia Company Bank Central Virginia Bankshares, Inc. 11 8 10/1/2013 Sale of preferred stock at a loss 3 2 10/21/2013 Sale of preferred stock at a loss Blue Valley Ban Corp 22 0.5 10/21/2013 Spirit Bank Corp Inc. 30 21 10/21/2013 Sale of preferred stock at a loss Bank of George Sale of preferred stock at a loss Valley Community Bank 6 3 10/21/2013 Monarch Community Bancorp, Inc. 7 2 11/15/2013 Sale of common stock at a loss AB&T Financial Corporation 4 2 11/19/2013 38 28 5 2 Bridgeview Bancorp, Inc. Midtown Bank & Trust Company Sale of preferred stock at a loss Sale of preferred stock at a loss 11/19/2013 Sale of preferred stock at a loss 11/19/2013 Sale of preferred stock at a loss Village Bank and Trust Financial Corp 15 9 11/19/2013 Sale of preferred stock at a loss 1st Financial Services Corporation 16 8 12/31/2013 Pacific Commerce Bank Sale of preferred stock at a loss 4 2 2/10/2014 Sale of preferred stock at a loss 13 2 3/17/2014 Sale of preferred stock at a loss IA Bancorp, Inc/Indus American Bank 6 0.1 3/17/2014 Sale of preferred stock at a loss Community First Bancshares, Inc. (AR) 13 0.2 2/10/2014 Sale of preferred stock at a loss 5 3 2/10/2014 Sale of preferred stock at a loss 7 0.1 3/17/2014 Sale of preferred stock at a loss 80 77 4/14/2014 Sale of preferred stock at a loss Meridian Bank Georgia Primary Bank Chicago Shore Corporation Hampton Roads Bankshares, Inc. Community First, Inc. 18 12 4/14/2014 Sale of common stock at a loss Northern States Financial Corporation 17 11 4/30/2014 Sale of preferred stock at a loss Provident Community Bancshares, Inc. 9 4 4/30/2014 Sale of preferred stock at a loss 52 41 5/23/2014 Sale of common stock at a loss 9 5 7/2/2014 Sale of preferred stock at a loss CommunityOne Bancorp/FNB United Corp. United American Bank Maryland Financial Bank 2 1 7/2/2014 Sale of preferred stock at a loss Marine Bank & Trust Company 3 1 7/2/2014 Sale of preferred stock at a loss Continued on next page 465 466 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 REALIZED LOSSES AND WRITE-OFFS IN CPP, AS OF 3/31/2016 Institution Bank of the Carolinas Corporation Regent Bancorp, Inc. Highlands Independent Bancshares, Inc. Lone Star Bank Porter Bancorp, Inc.(PBI) ($ MILLIONS) (CONTINUED) TARP Investment Loss $13 $10 10 2 10/17/2014 Sale of preferred stock at a loss 7 1 10/24/2014 Date 7/16/2014 Description Sale of preferred stock at a loss Sale of preferred stock at a loss 3 1 12/3/2014 Sale of preferred stock at a loss 35 32 12/3/2014 Sale of preferred stock at a loss Louisville, KY 10 6 12/10/2014 Sale of preferred stock at a loss First Bancorp (PR) NCAL Bancorp 400 134 3/6/2015 Sale of common stock at a loss U.S. Century Bank 50 38 3/17/2015 Sale of preferred stock at a loss Citizens Bank & Trust Company 2 0.8 6/29/2015 Sale of preferred stock at a loss Metropolitan Capital Bancorp, Inc. 4 0.3 6/29/2015 Sale of preferred stock at a loss Southfirst Bancshares, Inc. 3 — 6/29/2015 Sale of preferred stock at a loss City National Bancshares Corporation 9 7 8/7/2015 Sale of preferred stock at a loss Goldwater Bank, N.A. 3 1 9/21/2015 Sale of preferred stock at a loss Capital Commerce Bancorp, Inc. 5 3 10/2/2015 Sale of common stock at a loss Total CPP Realized Losses $1,683 Write-Offs CIT Group Inc. Pacific Coast National Bancorp South Financial Group, Inc.a $2,330 $2,330 4 4 12/10/2009 Bankruptcy 2/11/2010 Bankruptcy 347 217 TIB Financial Corpa 37 25 UCBH Holdings Inc. 299 299 85 85 5/14/2010 Bankruptcy 9 9 8/20/2010 Bankruptcy Midwest Banc Holdings, Inc. Sonoma Valley Bancorp 9/30/2010 Sale of preferred stock at a loss 9/30/2010 Sale of preferred stock at a loss 11/6/2009 Bankruptcy Pierce County Bancorp 7 7 11/5/2010 Bankruptcy Tifton Banking Company 4 4 11/12/2010 Bankruptcy Legacy Bancorp, Inc. 6 6 Superior Bancorp Inc. 69 69 3/11/2011 Bankruptcy 4/15/2011 Bankruptcy FPB Bancorp, Inc. 6 6 7/15/2011 Bankruptcy One Georgia Bank 6 6 7/15/2011 Bankruptcy Integra Bank Corporation 84 84 7/29/2011 Bankruptcy Citizens Bancorp 10 10 9/23/2011 Bankruptcy CB Holding Corp. 4 4 10/14/2011 Bankruptcy 30 30 5 5 Tennessee Commerce Bancorp, Inc. Blue River Bancshares, Inc. 1/27/2012 Bankruptcy 2/10/2012 Bankruptcy Fort Lee Federal Savings Bank, FSB 1 1 4/20/2012 Bankruptcy Gregg Bancshares, Inc. 1 1 7/13/2012 Bankruptcy 10 10 8/14/2012 Bankruptcy 8 8 10/19/2012 Bankruptcy Premier Bank Holding Company GulfSouth Private Bank Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 REALIZED LOSSES AND WRITE-OFFS IN CPP, AS OF 3/31/2016 Institution Investors Financial Corporation of Pettis County, Inc. ($ MILLIONS) (CONTINUED) TARP Investment Loss Date $4 $4 10/19/2012 Bankruptcy 10/29/2012 Bankruptcy First Place Financial Corp. 73 73 Princeton National Bancorp, Inc. 25 25 Description 11/2/2012 Bankruptcy Gold Canyon Bank 2 2 4/5/2013 Bankruptcy Indiana Bank Corp. 1 1 4/9/2013 Bankruptcy Rogers Bancshares, Inc 25 25 7/5/2013 Bankruptcy TCB Holding Company 12 12 12/13/2013 Bankruptcy 8 8 1/31/2014 Bankruptcy Syringa Bancorp Idaho Bancorp Rising SunBancorp Western Community Bancshares, Inc. 7 7 400 103 12/5/2014 Sale of common stock at a loss 6 12/10/2014 Sale of preferred stock at a loss 10 Total CPP Write-Offs $3,386 Total of CPP Realized Losses and Write-Offs 4/24/2014 Bankruptcy $5,069 Notes: Numbers may not total due to rounding. a I n the time since these transactions were classified as write-offs, Treasury has changed its practices and now classifies sales of preferred stock at a loss as realized losses. Sources: Treasury, Transactions Report, 3/25/2016; Treasury, response to SIGTARP data call, 4/4/2016. 467 468 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 TABLE E.5 TREASURY RESTRUCTURINGS, RECAPITALIZATIONS, EXCHANGES, & SALES, AS OF 3/31/2016 Company Investment Date Original Investments 12/31/2008 $295.4 Combined Investments ($ MILLIONS) Investment Status Sold at Loss at Auction First Banks, Inc. Sold at loss in auction Flagstar Bancorp Inc. 1/30/2009 267.0 Sold at loss in auction United Community Banks, Inc. 12/5/2008 180.0 Sold at loss in auction Dickinson Financial Corporation II 1/16/2009 146.0 Sold at loss in auction Banner Corporation 11/21/2008 124.0 Sold at loss in auction Taylor Capital Group 11/21/2008 104.8 Sold at loss in auction Old Second Bancorp, Inc. 1/16/2009 73.0 Sold at loss in auction Alpine Banks of Colorado 3/27/2009 70.0 Sold at loss in auction 12/5/2008 65.0 Sold at loss in auction 12/12/2008 62.2 Sold at loss in auction First Financial Holdings Inc. Wilshire Bancorp, Inc. MainSource Financial Group, Inc. 1/16/2009 57.0 Sold at loss in auction WSFS Financial Corporation 1/23/2009 52.6 Sold at loss in auction NewBridge Bancorp 12/12/2008 52.4 Sold at loss in auction Ameris Bancorp 11/21/2008 52.0 Sold at loss in auction 3/13/2009 51.5 Sold at loss in auction Seacoast Banking Corporation of Florida 12/19/2008 50.0 Sold at loss in auction Fidelity Southern Corporation 12/19/2008 48.2 Sold at loss in auction MetroCorp Bancshares, Inc. 1/16/2009 45.0 Sold at loss in auction 1/9/2009 44.0 Sold at loss in auction 12/19/2008 43.0 Sold at loss in auction 2/13/2009 40.0 Sold at auction CommunityOne Bancorp/FNB United Corp. Cadence Financial Corporation Exchange Bank Reliance Bancshares, Inc. Cascade Financial Corporation 11/21/2008 39.0 Sold at loss in auction Bridgeview Bancorp, Inc. 12/19/2008 38.0 Sold at loss in auction First Defiance Financial Corp. 12/5/2008 37.0 Sold at loss in auction Fidelity Financial Corporation 12/19/2008 36.3 Sold at loss in auction Marquette National Corporation 12/19/2008 35.5 Sold at loss in auction 3/27/2009 35.5 Sold at loss in auction 11/21/2008 35.0 Sold at loss in auction 1/30/2009 33.0 Sold at loss in auction Trinity Capital Corporation Porter Bancorp, Inc. (PBI) Lousiville, KY Firstbank Corporation Centrue Financial Corporation 1/9/2009 32.7 Sold at loss in auction Pulaski Financial Corp 1/16/2009 32.5 Sold at loss in auction BNC Bancorp 12/5/2008 31.3 Sold at loss in auction Royal Bancshares of Pennsylvania, Inc. 2/20/2009 30.4 Sold at auction Spirit Bank Corp. Inc. 3/27/2009 30.0 Sold at loss in auction First United Corporation 1/30/2009 30.0 Sold at loss in auction Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 TREASURY RESTRUCTURINGS, RECAPITALIZATIONS, EXCHANGES, & SALES, AS OF 3/31/2016 Investment Date Original Investments Farmers Capital Bank Corporation 1/9/2009 $30.0 Sold at loss in auction Colony Bankcorp, Inc. 1/9/2009 28.0 Sold at loss in auction HMN Financial, Inc 12/23/2008 26.0 Sold at loss in auction Patriot Bancshares, Inc. 12/19/2008 26.0 Sold at loss in auction LNB Bancorp Inc. 12/12/2008 25.2 Sold at loss in auction Peoples Bancorp of North Carolina, Inc. 12/23/2008 25.1 Sold at loss in auction 5/29/2009 25.0 Sold at loss in auction Company Citizens Bancshares Co. Intervest Bancshares Corporation Combined Investments ($ MILLIONS) (CONTINUED) Investment Status 12/23/2008 25.0 Sold at loss in auction National Bancshares, Inc. 2/27/2009 24.7 Sold at loss in auction CBS Banc-Corp 3/27/2009 24.3 Sold at loss in auction 1/9/2009 24.0 Sold at auction 11/21/2008 23.4 Sold at loss in auction Eastern Virginia Bankshares, Inc. Severn Bancorp, Inc. First Citizens Banc Corp 1/23/2009 23.2 Sold at loss in auction Park Bancorporation, Inc. 3/6/2009 23.2 Sold at loss in auction Premier Financial Bancorp, Inc. 10/2/2009 22.3 Sold at loss in auction Central Community Corporation 2/20/2009 22.0 Sold at loss in auction 12/11/2009 22.0 Sold at loss in auction First Community Financial Partners, Inc. Blue Valley Ban Corp 12/5/2008 21.8 Sold at loss in auction FC Holdings, Inc. 6/26/2009 21.0 Sold at loss in auction The Baraboo Bancorporation, Inc. 1/16/2009 20.7 Sold at loss in auction United Bancorp, Inc. 1/16/2009 20.6 Sold at loss in auction Diamond Bancorp, Inc. 5/22/2009 20.4 Sold at loss in auction Commonwealth Bancshares, Inc. 5/22/2009 20.4 Sold at loss in auction 2/6/2009 20.4 Sold at loss in auction First Western Financial, Inc. Market Street Bancshares, Inc. 5/15/2009 20.3 Sold at loss in auction BNCCORP, Inc. 1/16/2009 20.1 Sold at auction First Financial Service Corporation 1/9/2009 20.0 Sold at loss in auction First Trust Corporation 6/5/2009 18.0 Sold at loss in auction Community First Inc. 2/27/2009 17.8 Sold at loss in auction Southern First Bancshares, Inc. 2/27/2009 17.3 Sold at loss in auction F&M Financial Corporation (TN) 2/13/2009 17.2 Sold at loss in auction Northern States Financial Corp. 2/20/2009 17.2 Sold at loss in auction F&M Financial Corporation (NC) 2/6/2009 17.0 Sold at loss in auction Guaranty Federal Bancshares, Inc. 1/30/2009 17.0 Sold at loss in auction White River Bancshares Company 2/20/2009 16.8 Sold at auction Timberland Bancorp Inc. Parke Bancorp Inc. Pacific City Financial Corporation 12/23/2008 16.6 Sold at loss in auction 1/30/2009 16.3 Sold at loss in auction 12/19/2008 16.2 Sold at auction Continued on next page 469 470 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 TREASURY RESTRUCTURINGS, RECAPITALIZATIONS, EXCHANGES, & SALES, AS OF 3/31/2016 Investment Date Original Investments 1/9/2009 $16.0 Sold at loss in auction CoastalSouth Bancshares, Inc. 8/28/2009 16.0 Sold at loss in auction Community West Bancshares 12/19/2008 15.6 Sold at loss in auction 3/6/2009 15.3 Sold at loss in auction Company Carolina Bank Holdings, Inc. First Reliance Bancshares, Inc. Village Bank and Trust Financial Corp Combined Investments ($ MILLIONS) (CONTINUED) Investment Status 5/1/2009 14.7 Sold at loss in auction First National Corporation 3/13/2009 13.9 Sold at loss in auction Yadkin Valley Financial Corporation 7/24/2009 13.3 Sold at loss in auction Community First Bancshares, Inc. 4/3/2009 12.7 Sold at loss in auction Alliance Financial Services Inc. 6/26/2009 12.0 Sold at loss in auction Farmers Enterprises, Inc. 6/19/2009 12.0 Sold at loss in auction 1/9/2009 12.0 Sold at loss in auction The Queensborough Company 1/30/2009 11.9 Sold at auction First Community Corporation Plumas Bancorp 11/21/2008 11.4 Sold at loss in auction Western Illinois Bancshares, Inc. 12/23/2008 11.4 Sold at loss in auction 4/3/2009 11.0 Sold at loss in auction First Capital Bancorp, Inc. Mackinac Financial Corporation 4/24/2009 11.0 Sold at loss in auction Ridgestone Financial Services, Inc. 2/27/2009 11.0 Sold at loss in auction Stonebridge Financial Corp. 1/23/2009 11.0 Sold at loss in auction Security State Bank Holding Company 5/1/2009 10.8 Sold at auction 11/20/2009 10.8 Sold at loss in auction 1/23/2009 10.7 Sold at loss in auction Presidio Bank Crosstown Holding Company Northwest Bancorporation, Inc. 2/13/2009 10.5 Sold at auction Blackhawk Bancorp, Inc. 3/13/2009 10.0 Sold at loss in auction Century Financial Services Corporation 6/19/2009 10.0 Sold at loss in auction ColoEast Bankshares, Inc. 2/13/2009 10.0 Sold at loss in auction HomeTown Bankshares Corporation 9/18/2009 10.0 Sold at loss in auction Coastal Banking Company, Inc. 12/5/2008 10.0 Sold at loss in auction Universal Bancorp 5/22/2009 9.9 Sold at loss in auction Provident Community Bancshares, Inc. 3/13/2009 9.3 Sold at loss in auction Delmar Bancorp 12/4/2009 9.0 Sold at loss in auction RCB Financial Corporation 6/19/2009 8.9 Sold at loss in auction United American Bank First Freedom Bancshares, Inc. BancStar, Inc. First Western Financial, Inc. Great River Holding Company 2/20/2009 8.7 Sold at loss in auction 12/22/2009 8.7 Sold at loss in auction 4/3/2009 8.6 Sold at loss in auction 2/6/2009 8.6 Sold at loss in auction 7/17/2009 8.4 Sold at loss in auction Commonwealth Business Bank 1/23/2009 7.7 Sold at loss in auction Metro City Bank 1/30/2009 7.7 Sold at loss in auction Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 TREASURY RESTRUCTURINGS, RECAPITALIZATIONS, EXCHANGES, & SALES, AS OF 3/31/2016 Investment Date Original Investments Oak Ridge Financial Services, Inc. 1/30/2009 $7.7 Sold at loss in auction First Gothenburg Bancshares, Inc. 2/27/2009 7.6 Sold at loss in auction Company Country Bank Shares, Inc. Combined Investments ($ MILLIONS) (CONTINUED) Investment Status 1/30/2009 7.5 Sold at loss in auction The Little Bank, Incorporated 12/23/2009 7.5 Sold at loss in auction FFW Corporation 12/19/2008 7.3 Sold at loss in auction 4/3/2009 7.0 Sold at loss in auction TriSummit Bank Chicago Shore Corporation Fidelity Federal Bancorp Alarion Financial Services, Inc. 7/31/2009 7.0 Sold at loss in auction 11/13/2009 6.7 Sold at loss in auction 1/23/2009 6.5 Sold at loss in auction First Intercontinental Bank 3/13/2009 6.4 Sold at loss in auction Biscayne Bancshares, Inc. 6/19/2009 6.4 Sold at loss in auction Premier Financial Bancorp, Inc. 5/22/2009 6.3 Sold at loss in auction Meridian Bank 2/13/2009 6.2 Sold at loss in auction IA Bancorp, Inc. 9/18/2009 6.0 Sold at loss in auction Three Shores Bancorporation, Inc. 1/23/2009 5.7 Sold at loss in auction Boscobel Bancorp Inc. 5/15/2009 5.6 Sold at auction Waukesha Bankshares, Inc. 6/26/2009 5.6 Sold at loss in auction 3/6/2009 5.5 Sold at loss in auction First Southwest Bancorporation, Inc. Valley Community Bank Midtown Bank & Trust Company 1/9/2009 5.5 Sold at loss in auction 2/27/2009 5.2 Sold at loss in auction Franklin Bancorp, Inc. 5/22/2009 5.1 Sold at loss in auction AmFirst Financial Services, Inc. 8/21/2009 5.0 Sold at loss in auction Germantown Capital Corporation 3/6/2009 5.0 Sold at loss in auction Alaska Pacific Bancshares Inc. 2/6/2009 4.8 Sold at loss in auction Virginia Company Bank 6/12/2009 4.7 Sold at loss in auction 12/18/2009 4.6 Sold at loss in auction 5/1/2009 4.5 Sold at loss in auction Community Pride Bank Corporation 11/13/2009 4.4 Sold at loss in auction CBB Bancorp 12/20/2009 4.4 Sold at loss in auction First Priority Financial Corp. Georgia Primary Bank Metropolitan Capital Bancorp, Inc. 4/10/2009 4.4 Sold at loss in auction Bank of Southern California, N.A. 4/10/2009 4.2 Sold at loss in auction 12/23/2008 4.1 Sold at loss in auction 2/6/2009 4.0 Sold at loss in auction Pacific Commerce Bank Carolina Trust Bank Capital Pacific Bancorp 12/23/2008 4.0 Sold at loss in auction Community Business Bank 2/27/2009 4.0 Sold at loss in auction KS Bancorp Inc. 8/21/2009 4.0 Sold at loss in auction Peoples of Bancshares of TN, Inc. 3/20/2009 3.9 Sold at loss in auction Pathway Bancorp 3/27/2009 3.7 Sold at auction F & M Bancshares, Inc. 11/6/2009 3.5 Sold at loss in auction AB&T Financial Corporation 1/23/2009 3.5 Sold at loss in auction Continued on next page 471 472 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 TREASURY RESTRUCTURINGS, RECAPITALIZATIONS, EXCHANGES, & SALES, AS OF 3/31/2016 Company Investment Date Original Investments First Alliance Bancshares, Inc. 6/26/2009 $3.4 Sold at loss in auction Madison Financial Corporation 3/13/2009 3.4 Sold at auction Congaree Bancshares, Inc. Mountain Valley Bancshares, Inc. Combined Investments ($ MILLIONS) (CONTINUED) Investment Status 1/9/2009 3.3 Sold at loss in auction 9/25/2009 3.3 Sold at loss in auction First Independence Corporation 8/28/2009 3.2 Sold at loss in auction Oregon Bancorp, Inc. 4/24/2009 3.2 Sold at auction Sound Banking Co. 1/9/2009 3.1 Sold at loss in auction Lone Star Bank 2/6/2009 3.1 Sold at loss in auction Marine Bank & Trust Company 3/6/2009 3.0 Sold at loss in auction Alliance Bancshares, Inc. 6/26/2009 3.0 Sold at loss in auction Bank of Commerce 1/16/2009 3.0 Sold at loss in auction Clover Community Bankshares, Inc. 3/27/2009 3.0 Sold at loss in auction F&C Bancorp. Inc. 5/22/2009 3.0 Sold at loss in auction Layton Park Financial Group, Inc. 12/18/2009 3.0 Sold at loss in auction Tennessee Valley Financial Holdings, Inc. 12/23/2008 3.0 Sold at auction Santa Clara Valley Bank, N.A. 2/13/2009 2.9 Sold at loss in auction Omega Capital Corp. 4/17/2009 2.8 Sold at loss in auction 4/3/2009 2.8 Sold at auction Prairie Star Bancshares, Inc. Southfirst Bancshares 6/12/2009 2.8 Sold at loss in auction Bank of George 3/13/2009 2.7 Sold at loss in auction Worthington Financial Holdings, Inc. 5/15/2009 2.7 Sold at loss in auction Community Investors Bancorp, Inc. 12/23/2008 2.6 Sold at loss in auction 6/19/2009 2.6 Sold at loss in auction Manhattan Bancshares, Inc. Plato Holdings Inc. 7/17/2009 2.5 Sold at loss in auction Brogan Bankshares, Inc. 5/15/2009 2.4 Sold at auction Citizens Bank & Trust Company 3/20/2009 2.4 Sold at loss in auction CSRA Bank Corp. 3/27/2009 2.4 Sold at auction 5/1/2009 2.3 Sold at loss in auction Security Bancshares of Pulaski County, Inc. CenterBank 2/13/2009 2.2 Sold at loss in auction Market Bancorporation, Inc. 2/20/2009 2.1 Sold at auction 12/29/2009 2.0 Sold at auction Atlantic Bancshares, Inc. Hometown Bancshares, Inc. 2/13/2009 1.9 Sold at loss in auction Maryland Financial Bank 3/27/2009 1.7 Sold at loss in auction 2/6/2009 1.6 Sold at loss in auction 2/13/2009 1.5 Sold at loss in auction Hyperion Bank Regional Bankshares Inc. Desoto County Bank 2/13/2009 1.2 Sold at loss in auction First Advantage Bancshares, Inc. 5/22/2009 1.2 Sold at loss in auction Community Bancshares of MS 2/6/2009 1.1 Sold at loss in auction BankGreenville Financial Corp. 2/13/2009 1.0 Sold at loss in auction Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 TREASURY RESTRUCTURINGS, RECAPITALIZATIONS, EXCHANGES, & SALES, AS OF 3/31/2016 Company Investment Date Original Investments Combined Investments 473 ($ MILLIONS) (CONTINUED) Investment Status Bank Financial Services, Inc. 8/14/2009 $1.0 Sold at loss in auction Corning Savings and Loan Association 2/13/2009 0.6 Sold at loss in auction Farmers & Merchants Financial Corporation 3/20/2009 0.4 Sold at loss in auction 2/6/2009 0.3 Sold at auction 12/5/2008 $347.0 Sold Whitney Holding Corporation 12/19/2008 300.0 Sold Green Bankshares 12/23/2008 72.3 Sold Freeport Bancshares, Inc. Sold at Loss South Financial Group, Inc. U.S. Century 8/7/2009 52.2 Sold 2/13/2009 41.4 Sold 12/12/2008 41.3 Sold 12/5/2008 37.0 Sold First Security Group, Inc. 1/9/2009 33.0 Sold Florida Bank Group, Inc. 7/24/2009 20.5 Sold 3/6/2009 16.5 Sold 11/14/2008 16.4 Sold PremierWest Bancorp Capital Bank Corporation TIB Financial Corp. First Federal Bankshares of Arkansas, Inc. 1st Financial Services Corporation Suburban Illinois Bancorp, Inc. 6/19/2009 15.0 Sold First Community Bancshares, Inc. 5/15/2009 14.8 Sold Bank of the Carolinas Corporation 4/17/2009 13.2 Sold SouthCrest Financial Group, Inc. 7/17/2009 12.9 Sold Central Virginia Bankshares 1/30/2009 11.4 Sold First Community Bank Corporation of America 12/23/2008 11.0 Sold NCAL Bancorp 12/19/2008 10.0 Sold 4/10/2009 9.4 Sold 12/23/2008 7.4 Sold 4/3/2009 7.3 Sold City National Bancshares Corporation First Sound Bank Millennium Bancorp, Inc. Central Federal Corporation 12/5/2008 7.2 Sold Community Financial Shares, Inc. 5/15/2009 7.0 Sold Monarch Community Bancorp, Inc. 2/6/2009 6.8 Sold Highlands Independent Bancshares, Inc. 3/6/2009 6.7 Sold Bank of Currituck 2/6/2009 4.0 Sold Santa Lucia Bancorp 12/19/2008 4.0 Sold Naples Bancorp, Inc. 3/27/2009 4.0 Sold Treaty Oak Bancorp, Inc. 1/16/2009 3.3 Sold FBHC Holding Company 12/29/2009 3.0 Sold 1/30/2009 2.6 Sold Goldwater Bank, NA Continued on next page 474 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 TREASURY RESTRUCTURINGS, RECAPITALIZATIONS, EXCHANGES, & SALES, AS OF 3/31/2016 Investment Date Original Investments Citigroup Inc. 10/28/2008 $2,500.0 Provident Bankshares 11/14/2008 151.5 M&T Bank Corporation 12/23/2008 600.0 Wilmington Trust Corporation 12/12/2008 330.0 12/5/2008 935.0 Exchanged for trust preferred securities Company Combined Investments ($ MILLIONS) (CONTINUED) Investment Status Exchanges Popular, Inc. First BanCorp Sterling Financial Corporation Pacific Capital Bancorp Central Pacific Financial Corp. Exchanged for common stock/warrants and sold $1,081.5a Provident preferred stock exchanged for new M&T Bank Corporation preferred stock; Wilmington Trust preferred stock redeemed by M&T Bank Corporation; Sold 1/6/2009 400.0 Exchanged for mandatorily convertible preferred stock 12/5/2008 303.0 Exchanged for common stock, Sold 11/21/2008 195.0 Exchanged for common stock Exchanged for common stock 1/9/2009 135.0 BBCN Bancorp, Inc. 11/21/2008 67.0 Center Financial Corporation 12/12/2008 55.0 2/20/2009 116.0 Metropolitan Bank Group Inc. 6/26/2009 71.5 NC Bancorp, Inc. 6/26/2009 6.9 Hampton Roads Bankshares 12/31/2008 80.3 Exchanged for common stock Independent Bank Corporation 12/12/2008 72.0 Exchanged for mandatorily convertible preferred stock Superior Bancorp, Inc.d 12/5/2008 69.0 Exchanged for trust preferred securities Standard Bancshares Inc. 4/24/2009 60.0 Exchanged for common stock and securities purchase agreements First Merchants Crescent Financial Bancshares, Inc. 122.0b Exchanged for a like amount of securities of BBCN Bancorp, Inc. Exchanged for trust preferred securities and preferred stock 81.9c Exchanged for new preferred stock in Metropolitan Bank Group, Inc. and later sold at loss 1/9/2009 24.9 1/16/2009 17.9 11/14/2008 15.0 Exchanged for common stock 3/6/2009 10.0 Exchanged preferred stock/warrant preferred stock for common stock and sold Capital Commerce Bancorp, Inc. 4/10/2009 5.1 Exchanged preferred stock/warrant preferred stock for common stock and sold Calwest Bancorp 1/23/2009 4.7 Exchanged preferred stock/warrant preferred stock for common stock and sold Fidelity Resources Company 6/26/2009 3.0 Exchanged for preferred stock in Veritex Holding Berkshire Bancorp 6/12/2009 2.9 Exchanged for preferred stock in Customers Bancorp ECB Bancorp, Inc. Broadway Financial Corporation Regent Bancorp 42.8e Exchanged for a like amount of securities of Crescent Financial Bancshares, Inc. Notes: Numbers may be affected due to rounding. a M &T Bank Corporation (“M&T”) has redeemed the entirety of the preferred shares issued by Wilmington Trust Corporation plus accrued dividends. In addition, M&T has also repaid Treasury’s original $600 million investment. On August 21, 2012, Treasury sold all of its remaining investment in M&T at par. b T he new investment amount of $122 million includes the original investment amount in BBCN Bancorp, Inc. (formerly Nara Bancorp, Inc.) of $67 million and the original investment of Center Financial Corporation of $55 million. c T he new investment amount of $81.9 million includes the original investment amount in Metropolitan Bank Group, Inc. of $71.5 million plus the original investment amount in NC Bank Group, Inc. of $6.9 million plus unpaid dividends of $3.5 million. d T he subsidiary bank of Superior Bancorp, Inc. failed on April 15, 2011. All of Treasury’s TARP investment in Superior Bancorp is expected to be lost. e T he new investment amount of $42.8 million includes the original investment amount in Crescent Financial Bancshares, Inc. (formerly Crescent Financial Corporation) of $24.9 million and the original investment of ECB Bancorp, Inc. of $17.9 million. Source: Treasury, Transactions Report, 3/25/2016. CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 475 TABLE E.6 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 3/31/2016 Institution Auction Date Investment Net Proceeds Percentage of Shares Discount Repurchased Auction Loss Percentage by Institution Number of Missed Dividends Missed Dividends Total Loss from Auction Sales and Missed Dividends Porter Bancorp, Inc. 12/4/2014 $35,000,000 $3,500,000 $31,500,000 90% 13 $6,737,500 $38,237,500 Stonebridge Financial Corp. 3/15/2013 10,973,000 1,879,145 9,093,855 83% 12 1,794,180 10,888,035 AB&T Financial Corporation 11/19/2013 3,500,000 914,215 2,585,785 74% 11 481,250 3,067,035 Bridgeview Bancorp, Inc. 11/19/2013 38,000,000 10,450,000 27,550,000 73% 15 7,766,250 35,316,250 7/2/2014 1,700,000 502,000 1,198,000 70% 7 162,138 1,360,138 Spirit Bank Corp. Inc. 11/19/2013 30,000,000 9,000,000 21,000,000 70% 12 4,905,000 25,905,000 Community First Inc. 4/14/2014 17,806,000 5,350,703 12,455,297 70% 12 2,911,200 15,366,497 Georgia Primary Bank 2/10/2014 4,500,000 1,531,145 2,968,855 66% 18 1,113,163 4,082,018 3/1/2013 73,000,000 25,547,320 47,452,680 65% 10 9,125,000 56,577,680 First Banks, Inc. 8/12/2013 295,400,000 104,749,295 190,650,705 65% 17 64,543,063 255,193,768 Centrue Financial Corporation 10/21/2013 32,668,000 10,631,697 21,186,665 65% 18 6,959,475 28,146,140 Bank of George Maryland Financial Bank Old Second Bancorp, Inc.a 10/21/2013 2,672,000 955,240 1,716,760 64% 10 364,150 2,080,910 United American Bank 7/2/2014 8,700,000 3,294,050 5,405,950 62% 21 2,482,702 7,888,652 Village Bank and Trust Financial Corp 11/19/2013 14,738,000 5,672,361 9,065,639 62% 11 2,026,475 11,092,114 Valley Community Bank 10/21/2013 5,500,000 2,296,800 3,203,200 58% 10 749,375 3,952,575 First Priority Financial Corp. 1/29/2013 9,175,000 4,012,094 5,162,906 56% First Intercontinental Bank 8/12/2013 6,398,000 3,222,113 3,175,887 50% 8 697,400 3,873,287 Citizens Bancshares Co. 1/29/2013 24,990,000 12,679,301 12,310,699 49% 12 4,086,000 16,396,699 First Financial Service Corporation 4/29/2013 20,000,000 10,733,778 9,266,222 46% 10 2,500,000 11,766,222 Dickinson Financial Corporation II 1/29/2013 146,053,000 79,903,245 66,149,755 45% 14 27,859,720 94,009,475 Midtown Bank & Trust Company 11/19/2013 5,222,000 3,133,200 2,088,800 40% 15 1,067,213 3,156,013 Delmar Bancorp 1/29/2013 9,000,000 5,453,900 3,546,100 39% 5 613,125 4,159,225 Virginia Company Bank 8/12/2013 4,700,000 2,843,974 1,856,026 39% 3 185,903 2,041,929 5,162,906 100% Continued on next page 476 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 3/31/2016 Institution Auction Date Investment Net Proceeds (CONTINUED) Percentage of Shares Discount Repurchased Auction Loss Percentage by Institution Number of Missed Dividends Missed Dividends Total Loss from Auction Sales and Missed Dividends Pacific Commerce Bank 2/10/2014 $4,060,000 $2,494,961 $1,565,039 39% 13 $695,771 $2,260,810 Lone Star Bank 12/4/2014 3,072,000 1,908,480 1,163,520 38% 23 1,059,242 2,222,762 Franklin Bancorp, Inc. 11/9/2012 5,097,000 3,191,614 1,905,386 37% 1,905,386 12/20/2012 1,552,000 983,800 568,200 37% 568,200 9/12/2012 22,000,000 14,211,450 7,788,550 35% 7,788,550 The Baraboo Bancorporation, Inc. 12/11/2012 20,749,000 13,399,227 7,349,773 35% 2 565,390 7,915,163 Citizens Bank & Trust Company 6/29/2015 2,400,000 1,560,312 839,688 35% 5 163,500 1,003,188 Marine Bank & Trust Company 7/2/2014 3,000,000 1,985,000 1,015,000 34% 15 613,125 1,628,125 First Reliance Bancshares, Inc. 3/1/2013 15,349,000 0,327,021 5,021,979 33% 6 1,254,720 6,276,699 Security Bancshares of Pulaski County, Inc. 12/11/2012 2,152,000 1,475,592 676,408 31% First Alliance Bancshares, Inc. 12/20/2012 3,422,000 2,370,742 1,051,258 31% 7/27/2012 35,500,000 25,313,186 10,186,814 29% Parke Bancorp, Inc. 11/30/2012 16,288,000 11,595,735 4,692,265 29% 4,692,265 First Independence Corporation 12/20/2012 3,223,000 2,286,675 936,325 29% 936,325 HMN Financial, Inc. 1/29/2013 26,000,000 18,571,410 7,428,590 29% Farmers Capital Bank Corporation 6/13/2012 30,000,000 21,594,229 8,405,771 28% 8,405,771 Diamond Bancorp, Inc. 7/27/2012 20,445,000 14,780,662 5,664,338 28% 5,664,338 Park Bancorporation, Inc. 7/27/2012 23,200,000 16,772,382 6,427,618 28% Community West Bancshares 12/11/2012 15,600,000 11,181,456 4,418,544 28% Commonwealth Bancshares, Inc. 7/27/2012 20,400,000 15,147,000 5,253,000 26% Trinity Capital Corporation 7/27/2012 35,539,000 26,396,503 9,142,497 26% 9,142,497 TriSummit Bank 11/30/2012 7,002,000 5,198,984 1,803,016 26% 1,803,016 Alliance Financial Services, Inc. 1/29/2013 12,000,000 8,912,495 3,087,505 26% Hyperion Bank First Community Financial Partners, Inc.b Marquette National Corporation 676,408 2 93,245 31% 1,144,503 10,186,814 8 2,600,000 30% 10,028,590 6,427,618 3 585,000 26% 5,003,544 5,253,000 12 3,020,400 6,107,905 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 3/31/2016 Institution Auction Date Investment Net Proceeds 477 (CONTINUED) Number of Missed Dividends Missed Dividends Total Loss from Auction Sales and Missed Dividends 9 Percentage of Shares Discount Repurchased Auction Loss Percentage by Institution $3,024,383 $9,370,235 National Bancshares, Inc. 2/7/2013 $24,664,000 $18,318,148 $6,345,852 26% Blue Ridge Bancshares, Inc. 10/31/2012 12,000,000 8,969,400 3,030,600 25% 3,030,600 Peoples Bancshares of TN, Inc. 10/31/2012 3,900,000 2,919,500 980,500 25% 980,500 2/7/2013 17,969,000 13,612,558 4,356,442 24% 4,356,442 Colony Bankcorp, Inc. 1/29/2013 28,000,000 21,680,089 6,319,911 23% F&M Financial Corporation (TN) 9/12/2012 17,243,000 13,443,074 3,799,926 22% 3,799,926 Layton Park Financial Group, Inc. 11/30/2012 3,000,000 2,345,930 654,070 22% 654,070 CoastalSouth Bancshares, Inc. 3/1/2013 16,015,000 12,606,191 3,408,809 21% Seacoast Banking Corporation of Florida 3/28/2012 50,000,000 40,404,700 9,595,300 19% 9,595,300 United Bancorp, Inc. 6/13/2012 20,600,000 16,750,221 3,849,779 19% 3,849,779 Alpine Banks of Colorado 9/12/2012 70,000,000 56,430,297 13,569,703 19% 13,569,703 10/31/2012 2,250,000 1,831,250 418,750 19% 418,750 2/7/2013 10,900,000 8,876,677 2,023,323 19% Congaree Bancshares Inc. 10/31/2012 3,285,000 2,685,979 599,021 18% Corning Savings and Loan Association 11/30/2012 638,000 523,680 114,320 18% 114,320 KS Bancorp, Inc. 717,000 First Trust Corporation CenterBank Ridgestone Financial Services, Inc. 4 8 14 1,400,000 1,687,900 2,079,175 35% 7,719,911 5,096,709 4,102,498 599,021 11/30/2012 4,000,000 3,283,000 717,000 18% DeSoto County Bank 9/25/2013 2,681,000 2,196,896 484,104 18% Meridian Bank 3/17/2014 12,535,000 10,328,152 2,206,848 18% 2,206,848 First Western Financial, Inc.c 7/27/2012 20,440,000 17,022,298 3,417,702 17% 3,417,702 Bank of Commerce 11/30/2012 3,000,000 2,477,000 523,000 17% 3 122,625 645,625 Carolina Trust Bank 11/30/2012 4,000,000 3,362,000 638,000 16% 3 150,000 788,000 Presidio Bank 12/11/2012 10,800,000 9,058,369 1,741,631 16% 3/1/2013 2,900,000 2,440,379 459,621 16% Santa Clara Valley Bank, N.A. 79% 484,104 $1,741,631 12 474,150 933,771 Continued on next page 478 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 3/31/2016 Institution Auction Date Investment Net Proceeds (CONTINUED) Percentage of Shares Discount Repurchased Auction Loss Percentage by Institution Number of Missed Dividends Missed Dividends Total Loss from Auction Sales and Missed Dividends Timberland Bancorp, Inc. 11/9/2012 $16,641,000 $14,209,334 $2,431,666 15% Worthington Financial Holdings, Inc. 6/24/2013 2,720,000 2,318,851 401,149 15% First Financial Holdings Inc. 3/28/2012 65,000,000 55,926,478 9,073,522 14% 9,073,522 11/30/2012 3,000,000 2,593,700 406,300 14% 406,300 Banner Corporation 3/28/2012 124,000,000 108,071,915 15,928,085 13% 15,928,085 LNB Bancorp Inc. 6/13/2012 25,223,000 21,863,750 3,359,250 13% 3,359,250 Pulaski Financial Corp 6/27/2012 32,538,000 28,460,338 4,077,662 13% 4,077,662 Exchange Bank 7/27/2012 43,000,000 37,259,393 5,740,607 13% First National Corporation 8/23/2012 13,900,000 12,082,749 1,817,251 13% 1,817,251 Taylor Capital Group 6/13/2012 104,823,000 92,254,460 12,568,540 12% 12,568,540 Fidelity Financial Corporation 7/27/2012 36,282,000 32,013,328 4,268,672 12% Yadkin Valley Financial Corporationd 9/12/2012 49,312,000 43,486,820 5,825,180 12% 5,825,180 Three Shores Bancorporation, Inc. 11/9/2012 5,677,000 4,992,788 684,212 12% 684,212 Alaska Pacific Bancshares, Inc. 11/30/2012 4,781,000 4,217,568 563,432 12% 563,432 Fidelity Southern Corporation 6/27/2012 48,200,000 42,757,786 5,442,214 11% 5,442,214 First Citizens Banc Corp 6/27/2012 23,184,000 20,689,633 2,494,367 11% 2,494,367 Southern First Bancshares, Inc. 6/27/2012 17,299,000 15,403,722 1,895,278 11% 6% 1,895,278 Market Street Bancshares, Inc. 7/27/2012 20,300,000 18,069,213 2,230,787 11% 89% 2,230,787 Premier Financial Bancorp, Inc. 7/27/2012 22,252,000 19,849,222 2,402,778 11% 46% 2,402,778 Metro City Bank 10/31/2012 7,700,000 6,861,462 838,538 11% 15% 838,538 BankGreenville Financial Corporation 11/9/2012 1,000,000 891,000 109,000 11% 109,000 FFW Corporation 11/30/2012 7,289,000 6,515,426 773,574 11% $773,574 First Advantage Bancshares, Inc. 12/11/2012 1,177,000 1,046,621 130,379 11% 130,379 Clover Community Bankshares, Inc. $2,431,666 6 47% 58% $222,360 623,509 5,740,607 4,268,672 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 3/31/2016 Institution Auction Date Investment Net Proceeds 479 (CONTINUED) Percentage of Shares Discount Repurchased Auction Loss Percentage by Institution Number of Missed Dividends Missed Dividends Total Loss from Auction Sales and Missed Dividends FC Holdings, Inc. 2/7/2013 $21,042,000 $18,685,927 $2,356,073 11% 14 $4,013,730 $6,369,803 First Southwest Bancorporation, Inc. 3/15/2013 5,500,000 4,900,609 599,391 11% 13 974,188 1,573,579 ColoEast Bankshares, Inc. 7/22/2013 10,000,000 8,947,125 1,052,875 11% 8 1,090,000 2,142,875 WSFS Financial Corporation 3/28/2012 52,625,000 47,435,299 5,189,701 10% CBS Banc-Corp. 5,189,701 7/27/2012 24,300,000 21,776,396 2,523,604 10% Blackhawk Bancorp Inc. 10/31/2012 10,000,000 9,009,000 991,000 10% 991,000 First Gothenburg Banschares, Inc. 10/31/2012 7,570,000 6,822,136 747,864 10% 747,864 Bank Financial Services, Inc. 12/20/2012 1,004,000 907,937 96,063 10% 96,063 3/1/2013 12,900,000 11,587,256 1,312,744 10% 9 1,581,863 2,894,607 Flagstar Bancorp, Inc. 3/15/2013 266,657,000 240,627,277 26,029,723 10% 5 16,666,063 42,695,786 First Capital Bancorp, Inc. 6/13/2012 10,958,000 9,931,327 1,026,673 9% 1,026,673 BNC Bancorp 2,894,315 SouthCrest Financial Group, Inc. 95% 2,523,604 8/23/2012 31,260,000 28,365,685 2,894,315 9% Germantown Capital Corporation, Inc. 10/31/2012 4,967,000 4,495,616 471,384 9% HomeTown Bankshares Corporation 10/31/2012 10,000,000 9,093,150 906,850 9% 906,850 Oak Ridge Financial Services, Inc. 10/31/2012 7,700,000 7,024,595 675,405 9% 675,405 First Freedom Bancshares, Inc. 11/9/2012 8,700,000 7,945,492 754,508 9% Sound Banking Company 11/9/2012 3,070,000 2,804,089 265,911 9% 265,911 Country Bank Shares, Inc. 11/30/2012 7,525,000 6,838,126 686,874 9% 686,874 Bank of Southern California, N.A. 12/20/2012 4,243,000 3,850,150 392,850 9% Farmers & Merchants Financial Corporation 6/24/2013 442,000 400,425 41,575 9% RCB Financial Corporation 9/25/2013 8,900,000 8,073,279 826,721 9% 25% 471,384 69% 754,508 30% 392,850 41,575 9 1,055,520 1,882,241 Continued on next page 480 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 3/31/2016 Institution Auction Date Investment Net Proceeds (CONTINUED) Percentage of Shares Discount Repurchased Auction Loss Percentage by Institution Number of Missed Dividends Missed Dividends Total Loss from Auction Sales and Missed Dividends MainSource Financial Group, Inc. 3/28/2012 $57,000,000 $52,277,171 $4,722,829 8% $4,722,829 Ameris Bancorp 6/13/2012 52,000,000 47,665,332 4,334,668 8% 4,334,668 Peoples Bancorp of North Carolina, Inc. 6/27/2012 25,054,000 23,033,635 2,020,365 8% 2,020,365 Regional Bankshares, Inc. 11/9/2012 1,500,000 1,373,625 126,375 8% 47% 126,375 CBB Bancorp 11/30/2012 4,397,000 4,066,752 330,248 8% 35% 330,248 Central Community Corporation 12/11/2012 22,000,000 20,172,636 1,827,364 8% 1,827,364 Waukesha Bankshares, Inc. 1/29/2013 5,625,000 5,161,674 463,326 8% 463,326 Wilshire Bancorp, Inc. 3/28/2012 62,158,000 57,766,994 4,391,006 7% 4,391,006 Firstbank Corporation 6/27/2012 33,000,000 30,587,530 2,412,470 7% Capital Pacific Bancorp 11/9/2012 4,000,000 3,715,906 284,094 7% Western Illinois Bancshares, Inc. 11/9/2012 11,422,000 10,616,305 805,695 7% 89% 805,695 Community Bancshares of Mississippi, Inc. 11/30/2012 1,050,000 977,750 72,250 7% 52% 72,250 Community Business Bank 11/30/2012 3,976,000 3,692,560 283,440 7% Hometown Bancshares, Inc. 11/30/2012 1,900,000 1,766,510 133,490 7% 1/29/2013 8,144,000 7,598,963 545,037 7% 545,037 2/7/2013 16,000,000 14,811,984 1,188,016 7% 1,188,016 Mackinac Financial Corporation 8/23/2012 11,000,000 10,380,905 619,095 6% 619,095 F&M Financial Corporation (NC) 9/12/2012 17,000,000 15,988,500 1,011,500 6% 84% 1,011,500 12/20/2012 2,600,000 2,445,000 155,000 6% 54% 155,000 Commonwealth Business Bank 7/22/2013 7,701,000 7,250,414 450,586 6% 100% Universal Bancorp 8/12/2013 9,900,000 9,312,028 587,972 6% 587,972 Metropolitan Capital Bancorp, Inc. 6/29/2015 4,388,000 4,135,655 252,345 6% 252,345 F & M Bancshares, Inc. Carolina Bank Holdings, Inc. Community Investors Bancorp, Inc. 48% 2,412,470 284,094 283,440 39% 133,490 10 $1,049,250 1,499,836 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 3/31/2016 Institution Auction Date Investment Net Proceeds 481 (CONTINUED) Percentage of Shares Discount Repurchased Auction Loss Percentage by Institution Number of Missed Dividends Missed Dividends Total Loss from Auction Sales and Missed Dividends First Defiance Financial Corp. 6/13/2012 $37,000,000 $35,084,144 $1,915,856 5% $1,915,856 F&C Bancorp, Inc. 11/9/2012 2,993,000 2,840,903 152,097 5% 152,097 Farmers Enterprises, Inc. 11/9/2012 12,000,000 11,439,252 560,748 5% Coastal Banking Company, Inc. 3/1/2013 9,950,000 9,408,213 541,787 5% Alliance Bancshares, Inc. 3/15/2013 2,986,000 2,831,437 154,563 5% 154,563 AmFirst Financial Services, Inc. 3/15/2013 5,000,000 4,752,000 248,000 5% 248,000 United Community Banks, Inc. 3/15/2013 180,000,000 171,517,500 8,482,500 5% 8,482,500 Biscayne Bancshares, Inc. 1/29/2013 6,400,000 6,170,630 229,370 4% Guaranty Federal Bancshares, Inc.e 4/29/2013 12,000,000 11,493,900 506,100 4% Intervest Bancshares Corporation 6/24/2013 25,000,000 24,007,500 992,500 4% MetroCorp Bancshares, Inc. 6/27/2012 45,000,000 43,490,360 1,509,640 3% First Community Corporation 8/23/2012 11,350,000 10,987,794 362,206 3% 33% 362,206 The Little Bank, Incorporated 10/31/2012 7,500,000 7,285,410 214,590 3% 63% 214,590 Manhattan Bancshares, Inc. 12/11/2012 2,639,000 2,560,541 78,459 3% 96% 78,459 3/1/2013 12,000,000 11,605,572 394,428 3% BancStar, Inc. 4/29/2013 8,600,000 8,366,452 233,548 3% NewBridge Bancorp 4/29/2013 52,372,000 50,837,239 1,534,761 3% Alarion Financial Services, Inc. 7/22/2013 6,514,000 6,338,584 175,416 3% Crosstown Holding Company 7/22/2013 10,650,000 10,356,564 293,436 3% 293,436 Century Financial Services Corporation 12/20/2012 10,000,000 9,751,500 248,500 2% 248,500 Mountain Valley Bancshares, Inc. 7/22/2013 3,300,000 3,242,000 58,000 2% 10/21/2013 21,750,000 21,263,017 486,983 2% The Queensborough Company Blue Valley Ban Corp 99% 560,748 6 $746,250 53% 1,288,037 229,370 506,100 25% 992,500 1,509,640 11 1,798,500 12% 2,192,928 233,548 1,534,761 6 532,560 91% 707,976 58,000 18 4,893,750 5,380,733 Continued on next page 482 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 3/31/2016 Institution Auction Date Investment Net Proceeds (CONTINUED) Percentage of Shares Discount Repurchased Auction Loss Percentage by Institution Number of Missed Dividends Missed Dividends Total Loss from Auction Sales and Missed Dividends Community First Bancshares, Inc. 2/10/2014 $12,725,000 $12,446,703 $278,297 2% IA Bancorp, Inc. 3/17/2014 5,976,000 5,863,113 112,887 2% 6 $472,365 585,252 SouthFirst Bancshares, Inc. 6/29/2015 2,760,000 2,722,050 37,950 1% 14 609,270 647,220 Plato Holdings Inc. 4/29/2013 2,500,000 2,478,750 21,250 1% 4 207,266 228,516 Fidelity Federal Bancorp 7/22/2013 6,657,000 6,586,509 70,491 1% 14 1,229,924 1,300,415 Omega Capital Corp. 7/22/2013 2,816,000 2,791,000 25,000 1% 15 575,588 600,588 Premier Financial Corp. 7/22/2013 6,349,000 6,270,436 78,564 1% 12 1,597,857 1,676,421 Community Pride Bank Corporation 8/12/2013 4,400,000 4,351,151 48,849 1% 9 803,286 852,135 Chicago Shore Corporation 3/17/2014 7,000,000 6,937,000 63,000 1% Severn Bancorp, Inc. 9/25/2013 23,393,000 23,367,268 25,732 0% Oregon Bancorp, Inc. 10/21/2013 3,216,000 3,216,000 0 0% Freeport Bancshares, Inc. 4/14/2014 301,000 301,000 0 0% Prairie Star Bancshares, Inc. 6/29/2015 2,800,000 2,800,000 0 0% 21 913,150 913,150 CSRA Bank Corp. 6/29/2015 2,400,000 2,400,000 0 0% 19 717,300 717,300 Reliance Bancshares, Inc. 9/25/2013 40,000,000 40,196,000 (196,000) 0% 11 5,995,000 5,799,000 BNCCORP, Inc. 3/17/2014 20,093,000 20,114,700 (21,700) 0% (21,700) First United Corporation 12/4/2014 30,000,000 30,060,300 (60,300) 0% (60,300) Tennessee Valley Financial Holdings, Inc. 4/29/2013 3,000,000 3,041,330 (41,330) (1%) 13 531,375 490,045 3/1/2013 10,500,000 10,728,783 (228,783) (2%) 12 1,716,750 1,487,967 Madison Financial Corporation 11/19/2013 3,370,000 3,446,196 (76,196) (2%) 15 688,913 612,717 Brogan Bankshares, Inc. 4/29/2013 2,400,000 2,495,024 (95,024) (4%) 7 352,380 257,356 7/2/2014 16,800,000 17,683,309 (883,309) (5%) 14 3,204,600 2,321,291 4/29/2013 11,949,000 12,907,297 (958,297) (8%) 12 1,792,350 834,053 3/1/2013 5,586,000 6,116,943 (530,943) (10%) 11 1,288,716 757,773 Northwest Bancorporation, Inc. White River Bancshares Company Plumas Bancorp Boscobel Bancorp, Inc. $278,297 60% 63,000 6 1,754,475 78% 1,780,207 0 0 58% Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 3/31/2016 Auction Date Institution Investment Net Proceeds 483 (CONTINUED) Percentage of Shares Discount Repurchased Auction Loss Percentage by Institution Number of Missed Dividends Missed Dividends Total Loss from Auction Sales and Missed Dividends Eastern Virginia Bankshares, Inc. 10/21/2013 $24,000,000 $26,498,640 ($2,498,640) (10%) 11 $3,300,000 $801,360 Atlantic Bancshares, Inc. 2/10/2014 2,000,000 2,275,000 (275,000) (14%) 11 299,255 24,255 Patriot Bancshares, Inc. 4/14/2014 26,038,000 29,736,177 (3,698,177) (14%) 13 4,612,010 913,833 Security State Bank Holding Company 6/24/2013 10,750,000 12,409,261 (1,659,261) (15%) 10 2,254,985 595,724 Pathway Bancorp 6/24/2013 3,727,000 4,324,446 (597,446) (16%) 15 761,588 164,142 Great River Holding Company 4/14/2014 8,400,000 9,920,988 (1,520,988) (18%) 14 2,466,660 945,672 Royal Bancshares of Pennsylvania, Inc. 7/2/2014 30,407,000 36,337,548 (5,930,548) (20%) 20 7,601,750 1,671,202 Market Bancorporation, Inc. 7/2/2014 2,060,000 2,467,662 (407,662) (20%) 16 449,080 41,418 11/19/2013 16,200,000 19,685,754 (3,485,754) (22%) 18 3,973,050 487,296 Pacific City Financial Corporation Total Auction Losses Total Missed Dividends 38% 53% $813,526,950 $253,511,885 Notes: Numbers may not total due to rounding. a Treasury sold 70,028 of its shares in Old Second in the 3/1/2013 auction and the remaining 2,972 shares in the 3/15/2013 auction. b T reasury additionally sold 1,100 shares of its Series C stock in First Community Financial Partners, Inc. in this auction, but its largest investment in the bank was sold in the auction that closed on 9/12/2012, and the data for the disposition of its investment is listed under the 9/12/2012 auction in this table. c Treasury sold 8,000 of its shares in First Western Financial, Inc. on 7/27/2012 and the remaining 12,440 in the 6/24/2013 auction. d This institution was auctioned separately from the other set that closed on the same date because it is a publicly traded company. e The original investment in Guaranty Federal Bancshares, Inc. was $17 million. The bank had previously paid down $5 million, leaving a $12 million investment remaining. Sources: Treasury, Transactions Report, 3/25/2016; SNL Financial LLC data. 484 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 TABLE E.7 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 3/31/2016 Number of Warrants Repurchased Amount of Repurchase ($ Thousands) Capital Bancorp, Inc. 235,000 $235.0 California Oaks State Bank 165,000 165.0 2/6/2009 The Bank of Currituck 201,000 201.0 3/13/2009 Haviland Bancshares, Inc. 21,000 21.0 4/15/2009 Centra Financial Holdings, Inc. 750,000 750.0 Repurchase Date Institution 12/23/2008 1/23/2009 c 4/22/2009 First ULB Corp. 245,000 245.0 5/8/2009 Old National Bancorp 138,490 1,200.0 5/20/2009 Iberiabank Corporation 813,008 1,200.0 5/27/2009 FirstMerit Corporation 952,260 5,025.0 5/27/2009 Independent Bank Corp. 5/27/2009 Sun Bancorp, Inc. 481,664 2,200.0 1,620,545 2,100.0 5/27/2009 First Manitowoc Bancorp, Inc. 600,000 600.0 6/17/2009 Alliance Financial Corporation 173,069 900.0 6/24/2009 First Niagara Financial Group 953,096 2,700.0 6/24/2009 SCBT Financial Corporation 192,967 1,400.0 6/24/2009 Berkshire Hills Bancorp 226,330 1,040.0 6/24/2009 Somerset Hills Bancorp 163,065 275.0 6/26/2009 Signature Bancshares, Inc.a 85,000 85.0 6/30/2009 HF Financial Corp., Sioux Falls 7/15/2009 U.S. Bancorp 302,419 650.0 32,679,102 139,000.0 7/22/2009 The Goldman Sachs Group Inc. 12,205,045 1,100,000.0 7/22/2009 BB&T 13,902,573 67,010.4 7/29/2009 American Express Company 24,264,129 340,000.0 8/5/2009 Bank of New York Mellon 14,516,129 136,000.0 8/12/2009 Morgan Stanley 65,245,759 950,000.0 8/26/2009 Northern Trust Corporation 3,824,624 87,000.0 8/26/2009 State Street Corporationh 2,788,104 60,000.0 9/2/2009 Old Line Bancshares, Inc. 141,892 225.0 9/30/2009 Bancorp Rhode Island, Inc. 303,083 1,400.0 10/14/2009 Manhattan Bancorp 29,480 63.4 10/28/2009 CVB Financial Corporation 834,761 1,307.0 10/28/2009 Centerstate Banks of Florida Inc. 125,413 212.0 11/10/2009 Midwest Regional Bancorp, Inc. 35,000 35.0 11/18/2009 1st United Bancorp, Inc. 500,000 500.0 11/24/2009 Bank of the Ozarks, Inc. 3,779,811 2,650.0 12/11/2009 Nationwide Bankshares, Inc.a 100,000 100.0 12/16/2009 Wainwright Bank & Trust Company 390,071 568.7 12/16/2009 LSB Corporation 209,497 560.0 12/23/2009 WesBanco, Inc. 439,282 950.0 12/23/2009 Midland States Bancorp, Inc. 509,000 509.0 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 3/31/2016 Repurchase Date 12/23/2009 (CONTINUED) Number of Warrants Repurchased Institution Union First Market Bankshares Corporation (Union Bankshares Corporation) 12/29/2009 Surrey Bancorp/ Surrey Bank & Trust 12/30/2009 Trustmark Corporation Amount of Repurchase ($ Thousands) 211,318 $450.0 100,000 100.0 1,647,931 10,000.0 12/30/2009 Flushing Financial Corporation 375,806 900.0 2/3/2010 OceanFirst Financial Corp. 190,427 430.8 3/31/2010 Umpqua Holdings Corp. 1,110,898 4,500.0 4/7/2010 City National Corporation 1,128,668 18,500.0 4/7/2010 First Litchfield Financial Corporation 199,203 1,488.0 4/14/2010 First State Bank of Mobeetie 4/21/2010 Hilltop Community Bancorp, Inc. 37,000 5/19/2010 Texas National Bancorporation 6/16/2010 SVB Financial Group 37.0 200,000 200.0 199,000 199.0 3,028,264 5,269.2 6/16/2010 First Southern Bancorp, Inc. 545,000 545.0 6/16/2010 FPB Financial Corp. 162,000 162.0 7/7/2010 Discover Financial Services 20,500,413 172,000.0 7/14/2010 Green City Bancshares, Inc. 33,000 33.0 7/28/2010 Bar Harbor Bankshares 52,455 250.0 9/1/2010 Columbia Banking System, Inc. 398,023 3,301.6 9/1/2010 Citizens & Northern Corporation 194,794 400.0 5,509,756 10,800.0 980,203 4,754.0 375,000 375.0 110,000 110.0 9/8/2010 Fulton Financial Corporation 9/8/2010 The Bancorp, Inc. 9/17/2010 First Eagle Bancshares, Inc. 9/24/2010 First Choice Bankb 9/29/2010 Community Bancshares of Mississippi, Inc. 2,600,000 2,600.0 9/29/2010 BancPlus Corporation 2,400,000 2,400.0 9/29/2010 State Capital Corporationb 750,000 750.0 9/29/2010 Security Capital Corporation 522,000 522.0 9/29/2010 PSB Financial Corporationb 464,000 464.0 9/29/2010 First Vemon Bankshares, Inc. 245,000 245.0 9/29/2010 Lafayette Bancorpb 100,000 100.0 9/30/2010 South Financial Group Inc. 10,106,796 319.7 9/30/2010 TIB Financialg 1,106,389 40.0 10/6/2010 Frontier Bancshares, Inc. 150,000 150.0 a,b b b b b g a 11/24/2010 Leader Bancorp, Inc. 292,000 292.0 12/1/2010 Central Jersey Bancorp 268,621 319.7 1/5/2011 First PacTrust Bancorp, Inc. 1/19/2011 Huntington Bancshares 280,795 1,003.2 23,562,994 49,100.0 1/19/2011 Susquehanna Bancshares, Inc. 3,028,264 5,269.2 1/26/2011 East West Bancorp, Inc. 1,157,555 14,500.0 1/26/2011 American Premier Bancorp 90,000 90.0 Continued on next page 485 486 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 3/31/2016 (CONTINUED) Number of Warrants Repurchased Repurchase Date 749,619 Institution 1/28/2011 Capital Bank Corporationi Amount of Repurchase ($ Thousands) $— 2/10/2011 Monarch Financial Holdings, Inc. 132,353 260.0 2/15/2011 Treaty Oak Bancorp, Inc. 163,000 163.0 2/16/2011 Georgia Commerce Bancshares, Inc. 435,000 435.0 2/23/2011 Sandy Springs Bancorp, Inc. 651,547 4,450.0 3/2/2011 Washington Banking Company 246,082 1,625.0 3/4/2011 Cadence Financial Corporation 3/9/2011 First Horizon National Corporation 1,145,833 — 14,842,624 i 87,000.0 3/9/2011 1st Source Corporation 837,947 3,750.0 3/9/2011 FBHC Holding Companya 91,000 91.0 3/16/2011 Fifth Third Bancorp 43,617,747 280,025.9 3/16/2011 Stockmens Financial Corporation 778,000 778.0 4/13/2011 National Penn Banchares, Inc. 735,294 1,000.0 4/13/2011 Hamilton State Bancshares, Inc. 350,000 350.0 4/20/2011 Keycorp 35,244,361 70,000.0 4/20/2011 Bridge Capital Holdings 396,412 1,395.0 5/3/2011 First Federal Bancshares of Arkansas, Inc.i 321,847 — 5/11/2011 Financial Institutions, Inc. 378,175 2,080.0 5/18/2011 Sterling Bancorp 516,817 945.8 5/31/2011 First Community Bank Corporation of America 228,312 — 6/3/2011 Whitney Holding Corporation 2,631,579 6,900.0 2,500,000 2,500.0 863,442 — 13,815,789 3,250.0 1,200,000 1,200.0 290,000 290.0 1,055,000 1,055.0 500,000 500.0 i 6/29/2011 State Bankshares, Inc. 6/30/2011 Cascade Financial Corporationi 7/5/2011 Marshall & Ilsley Corporation 7/6/2011 Community Trust Financial Corporation 7/6/2011 Central Bancshares, Inc. 7/14/2011 BancIndependent, Incorporated 7/14/2011 BOH Holdings, Inc. 7/14/2011 Security Business Bancorp 290,000 290.0 7/14/2011 York Traditions Bank 244,000 244.0 7/14/2011 Cache Valley Banking Company 238,000 238.0 7/14/2011 Centric Financial Corporation 182,000 182.0 7/20/2011 Morrill Bancshares, Inc. 650,000 650.0 2,875,000 2,875.0 636,000 636.0 7/21/2011 Liberty Bancshares, Inc. 7/21/2011 Adbanc, Inc. 7/21/2011 d Medallion Bank 590,000 590.0 7/21/2011 Financial Security Corporation 250,000 250.0 7/21/2011 Redwood Capital Bancorp 190,000 190.0 7/21/2011 First Bank of Charleston, Inc. 167,000 167.0 7/21/2011 Catskill Hudson Bancorp, Ince 150,000 150.0 7/21/2011 Regent Capital Corporation, Inc. 133,000 133.0 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 3/31/2016 (CONTINUED) Number of Warrants Repurchased Repurchase Date Institution 7/21/2011 Catskill Hudson Bancorp, Inc. 7/21/2011 Medallion Bank 7/21/2011 Farmers State Bankshares, Inc. d Amount of Repurchase ($ Thousands) 113,000 $113.0 55,000 55.0 4,000 4.0 7/27/2011 Home Bancshares, Inc. 158,472 1,300.0 7/27/2011 Midwestone Financial Group, Inc. 198,675 1,000.0 7/28/2011 Pacific Coast Bankers’ Bancshares 580,000 580.0 7/28/2011 Centrix Bank & Trust 375,000 375.0 7/28/2011 Citizens Community Bank 150,000 150.0 82,000 82.0 4,000 4.0 7/28/2011 Birmingham Bloomfield Bancshares, Inc. 7/28/2011 Banner County Ban Corporation 8/3/2011 Peoples Bancorp 900,000 900.0 8/3/2011 TCNB Financial Corp 100,000 100.0 8/4/2011 First NBC Bank Holding Company 892,000 892.0 8/4/2011 WashingtonFirst Bankshares, Inc. 332,000 332.0 8/4/2011 BNC Financial Group, Inc. 240,000 240.0 8/4/2011 Mercantile Capital Corp. 175,000 175.0 8/11/2011 UBT Bancshares, Inc.f 45,000 450.0 8/11/2011 Equity Bancshares, Inc. 438,000 438.0 8/11/2011 Heritage Bankshares, Inc. 303,000 303.0 8/11/2011 Monument Bank 237,000 237.0 8/11/2011 Puget Sound Bank 225,000 225.0 8/11/2011 SBT Bancorp, Inc. 200,000 200.0 8/17/2011 Heritage Financial Corporation 138,037 450.0 8/18/2011 Liberty Bancshares, Inc. 1,095,000 1,095.0 8/18/2011 Community First Bancshares Inc. 1,000,000 1,000.0 8/18/2011 The Landrum Company 750,000 750.0 8/18/2011 Magna Bank 690,000 690.0 8/18/2011 Katahdin Bankshares Corp. 522,000 522.0 8/18/2011 Bancorp Financial, Inc. 410,000 410.0 8/18/2011 Gulfstream Bancshares, Inc. 375,000 375.0 8/18/2011 Mcleod Bancshares, Inc.f 30,000 300.0 8/18/2011 Redwood Financial, Inc. 150,000 150.0 8/24/2011 First California Financial Group, Inc. 599,042 599.0 1,000,000 1,000.0 250,000 250.0 8/25/2011 The A.N.B. Corporation 8/25/2011 Southern Illinois Bancorp, Inc. 8/25/2011 Enterprise Financial Services Group, Inc. 200,000 200.0 8/25/2011 Veritex Holdings, Inc. 150,000 150.0 8/25/2011 PFSB Bancorporation, Inc. 71,000 71.0 8/31/2011 West Bancorporation, Inc. 474,100 700.0 8/31/2011 SV Financial, Inc. 200,000 200.0 9/7/2011 Green Bankshares, Inc.i 635,504 — Continued on next page 487 488 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 3/31/2016 Repurchase Date Institution 9/14/2011 Summit State Bank (CONTINUED) Number of Warrants Repurchased Amount of Repurchase ($ Thousands) 239,212 $315.0 9/21/2011 Great Southern Bancorp 909,091 6,436.4 9/21/2011 DNB Financial Corporation 186,311 458.0 9/28/2011 Heartland Financial, Inc. 609,687 1,800.0 9/28/2011 MutualFirst Financial, Inc. 625,135 900.2 9/28/2011 Oak Valley Bancorp 350,346 560.0 263,859 526.6 79,067 185.0 9/28/2011 Codorus Valley Bancorp, Inc. 9/28/2011 Central ValleyCommunity Bancorp, Inc. 10/5/2011 OSB Financial Services, Inc.a 305,000 305.0 10/19/2011 Central Bancorp, Inc./Central Co-Operative Bank 234,742 2,525.0 10/19/2011 Community Bank Shares of Indiana, Inc. 386,270 1,100.9 10/19/2011 MS Financial, Inc. 386,000 386.0 10/19/2011 Pascack Bancorp, Inc. (Pascack Community Bank) 188,000 188.0 10/26/2011 Community Partners Bancorp 311,972 460.0 10/26/2011 Bank of Commerce Holdings 405,405 125.0 133,475 107.4 29,000 29.0 10/26/2011 Stewardship Finanical Corporation 10/26/2011 Colonial American Bank 11/2/2011 Ameriserv Financial, Inc. 11/2/2011 American State Bancshares, Inc. 1,312,500 825.0 300,000 300.0 11/2/2011 Salisbury Bancorp, Inc. 57,671 205.0 11/2/2011 Butler Point, Inc. 30,000 30.0 11/9/2011 Citizens South Banking Corporation 450,314 225.2 11/16/2011 QCR Holdings, Inc. 521,888 1,100.0 11/16/2011 First Northern Community Bancorp 352,977 375.0 11/16/2011 Shore Bancshares, Inc. 172,970 25.0 12/7/2011 Center Bancorp, Inc. 86,705 245.0 12/7/2011 Emclaire Financial Corp. 12/21/2011 First Midwest Bancorp, Inc. 12/28/2011 Customers Bancorp, Inc. 1/11/2012 North Central Bancshares, Inc. 1/18/2012 Stearns Financial Services, Inc.a 1/27/2012 Regents Bancshares, Inc. 2/1/2012 Pathfinder Bancorp, Inc. 50,111 51.1 1,305,230 900.0 145,000 145.0 99,157 600.0 1,245,000 1,245.0 12,700,000 12,700.0 154,354 537.6 2/15/2012 Peoples Bancorp, Inc. 313,505 1,200.7 2/15/2012 New Hampshire Thrift Bancshares, Inc. 184,275 737.1 2/15/2012 First Express of Nebraska, Inc. 250,000 250.0 2/29/2012 Lakeland Bancorp, Inc. 997,049 2,800.0 3/9/2012 Mainline Bancorp, Inc.g 225,000 225.0 3/21/2012 Valley Commerce Bancorp 385,000 385.0 3/28/2012 First Commerce Bank (f/k/a Northern State Bank) 4/4/2012 Peapack-Gladstone Financial Corporation 67,000 67.0 150,296 110.0 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 3/31/2016 (CONTINUED) Number of Warrants Repurchased Amount of Repurchase ($ Thousands) Titonka Bancshares, Inc. 106,000 $106.0 4/13/2012 Gateway Bancshares, Inc. 300,000 300.0 4/19/2012 The Connecticut Bank and Trust Companyg 175,742 792.8 Repurchase Date Institution 4/4/2012 4/24/2012 Peoples Bancorporation, Inc. 5/2/2012 Regions Financial Corporation 5/2/2012 633,000 Park National Corporation 633.0 48,253,677 45,000.0 227,376 2,842.4 5/2/2012 MB Financial, Inc. 506,024 1,518.1 5/30/2012 Seacoast Banking Corporation of Florida 589,623 55.0 6/20/2012 Wilshire Bancorp, Inc. 949,460 760.0 6/27/2012 Beach Business Bank 300,000 300.0 7/3/2012 Mercantile Bank Corporation 616,438 7,465.1 7/3/2012 United Bank Corporationa 720,000 720.0 7/12/2012 Naples Bancorp Inc. 200,000 200.0 7/17/2012 Heartland Bancshares, Inc. 248,000 248.0 7/18/2012 Taylor Capital Group 1,462,647 9,839.2 7/18/2012 Firstbank Corporation 578,947 1,946.7 7/18/2012 LNB Bancorp Inc. 561,343 860.3 7/18/2012 Pinnacle Financial Partners, Inc. 267,455 755.0 7/18/2012 Farmers Capital Bank Corporation 223,992 75.0 311,492 38.0 25,000 25.0 7/18/2012 United Bancorp, Inc. 7/18/2012 Community Bancshares of Kansas, Inc. 7/19/2012 Community Holding Company of Florida, Inc. 7/25/2012 Fremont Bancorporationa 7/25/2012 Southern First Bancshares, Inc. 5,000 5.0 1,750,000 1,750.0 399,970 1,100.0 8/1/2012 VIST Financial Corp. 367,984 1,189.8 8/8/2012 BBCN Bancorp, Inc. 521,266 2,189.3 8/8/2012 Pulaski Financial Corp. 778,421 1,100.0 8/8/2012 Peoples Bancorp of North Carolina, Inc. 357,234 425.0 8/9/2012 Fidelity Financial Corporation 1,814,000 1,814.0 8/9/2012 Diamond Bancorp, Inc.a 1,022,000 1,022.0 8/9/2012 Commonwealth Bancshares, Inc. 1,020,000 1,020.0 8/9/2012 Market Street Bancshares, Inc.a 1,015,000 1,015.0 8/9/2012 First Western Financial, Inc. 428,000 428.0 a 8/10/2012 Trinity Capital Corporation 1,777,000 1,777.0 8/10/2012 Marquette National Corporation 1,775,000 1,775.0 8/10/2012 CBS Banc-Corp 1,215,000 1,215.0 8/10/2012 Park Bancorporation, Inc 1,160,000 1,160.0 8/10/2012 First Community Financial Partners, Inc. 1,100,000 1,100.0 8/13/2012 Exchange Bank 2,150,000 2,150.0 8/14/2012 Millennium Bancorp, Inc. 363,000 363.0 8/22/2012 Ameris Bancorp, Inc. 698,554 2,670.0 Continued on next page 489 490 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 3/31/2016 (CONTINUED) Number of Warrants Repurchased Repurchase Date Institution 8/29/2012 First National Corporation 9/5/2012 First Citizens Banc Corp 9/12/2012 Alpine Banks of Colorado Amount of Repurchase ($ Thousands) 695,000 $695.0 469,321 563.2 3,500,000 3,500.0 9/12/2012 Indiana Community Bancorp 188,707 1,800.0 9/12/2012 WSFS Financial Corporation 175,105 1,800.0 9/12/2012 Blackridge Financial, Inc. 250,000 250.0 9/19/12 BNC Bancorp 543,337 939.9 9/19/2012 Sterling Financial Corporation 97,540 825.0 9/20/2012 F & M Financial Corporation 850,000 850.0 9/21/2012 F&M Financial Corporation 862,000 862.0 9/26/2012 TriState Capital Holdings 1,150,000 1,150.0 9/26/2012 Central Federal Corporation 67,313 — 10/24/2012 First BancTrust Corporation 368,000 368.0 10/25/2012 First Community Bancshares, Inc/First Community Bank (now Equity Bancshares, Inc.) 740,000 740.0 10/31/2012 Blue Ridge Bancshares, Inc. 600,000 600.0 10/31/2012 Blackhawk Bancorp, Inc. 500,000 500.0 10/31/2012 Metro City Bank 385,000 385.0 10/31/2012 First Gothenburg Bancshares, Inc./First State Bank 379,000 379.0 10/31/2012 The Little Bank, Incorporated 375,000 375.0 10/31/2012 HomeTown Bankshares Corporation 374,000 374.0 10/31/2012 Germantown Capital Corporation/First Capital Bank 248,000 248.0 10/31/2012 Peoples Bancshares of TN, Inc 195,000 195.0 10/31/2012 Congaree Bancshares, Inc. 164,000 164.0 10/31/2012 CenterBank 113,000 113.0 11/1/2012 ICB Financial/Inland Community Bank 300,000 300.0 11/1/2012 Fresno First Bank 11/9/2012 Western Illinois Bancshares Inc. 98,000 98.0 343,000 343.0 11/9/2012 Three Shores Bancorporation, Inc 284,000 284.0 11/9/2012 First Freedom Bancshares, Inc. 261,000 261.0 11/9/2012 Capital Pacific Bancorp 200,000 200.0 11/9/2012 Regional Bankshares, Inc. 75,000 75.0 11/9/2012 BankGreenville Financial Corporation 50,000 50.0 11/13/2012 Farmers Enterprises, Inc.a 600,000 600.0 11/13/2012 Franklin Bancorp, Inc. 255,000 255.0 11/13/2012 Sound Banking Company 154,000 154.0 11/13/2012 F & C Bancorp, Inc.a 150,000 150.0 11/28/2012 First South Bancorp, Inc. 2,500,000 2,500.0 11/29/2012 Country Bank Shares, Inc. 376,000 376.0 a 11/29/2012 Clover Community Bankshares, Inc. 150,000 150.0 11/29/2012 Layton Park Financial Group, Inc. 150,000 150.0 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 3/31/2016 Repurchase Date Number of Warrants Repurchased TriSummit Bank Amount of Repurchase ($ Thousands) 138,000 Institution 11/29/2012 (CONTINUED) $138.0 11/29/2012 CBB Bancorp / Century Bank of Georgia 132,000 132.0 11/30/2012 FFW Corporation/Crossroads Bank 364,000 364.0 11/30/2012 Western Reserve Bancorp, Inc 235,000 235.0 11/30/2012 KS Bancorp, Inc 200,000 200.0 11/30/2012 Community Business Bank 199,000 199.0 11/30/2012 Bank of Commerce 150,000 150.0 11/30/2012 Hometown Bancshares, Inc. 95,000 95.0 11/30/2012 Corning Savings and Loan Association 32,000 32.0 11/30/2012 Community Holding Company of Florida, Inc. (now Community Bancshares of Mississippi, Inc.) 5,000 5.0 12/5/2012 Moscow Bancshares, Inc. 311,000 311.0 12/11/2012 First American Bank Corporation 2,500,000 2,500.0 12/11/2012 Central Community Corporation/First State Bank of Central Texas 1,100,000 1,100.0 12/11/2012 The Baraboo Bancorporation 1,037,000 1,037.0 a 12/11/2012 Foresight Financial Group, Inc. (Northwest Bank of Rockford) 750,000 750.0 12/11/2012 Presidio Bank 325,000 325.0 12/11/2012 HPK Financial Corporation (Hyde Park Bank and Trust Company) 200,000 200.0 12/11/2012 HPK Financial Corporation (Hyde Park Bank and Trust Company) 144,000 144.0 12/11/2012 Manhattan Bancshares, Inc.a 132,000 132.0 12/11/2012 Security Bancshares of Pulaski County, Inc. 108,000 108.0 12/11/2012 First Advantage Bancshares Inc. 59,000 59.0 128,000 128.0 15,000 15.0 12/19/2012 Community 1st Bank 12/19/2012 The Freeport State Bank 12/20/2012 Century Financial Services Corporation 500,000 500.0 12/20/2012 First Alliance Bancshares, Inc. 171,000 171.0 12/20/2012 Community Investors Bancorp, Inc. 130,000 130.0 12/20/2012 Bank of Southern California, N.A. formerly First Business Bank, National Association 111,000 111.0 12/20/2012 Hyperion Bank 78,000 78.0 12/20/2012 Bank Financial Services, Inc. 50,000 50.0 12/21/2012 Community Financial Shares, Inc./Community Bank-Wheaton/ Glen Ellyn 349,000 349.0 a 12/28/2012 Monadnock Bancorp, Inc. 1/9/2013 Enterprise Financial Services Corp. 92,000 92.0 324,074 1,006.1 1/9/2013 Northwest Commercial Bank 100,000 100.0 1/16/2013 HopFed Bancorp 253,666 256.3 1/23/2013 Mid Penn Bancorp Inc. 2/6/2013 First Capital Bancorp, Inc. 73,099 58.5 417,648 266.0 2/6/2013 Oak Ridge Financial Services, Inc. 163,830 122.9 2/7/2013 Alliance Financial Services Inc. 600,000 600.0 Continued on next page 491 492 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 3/31/2016 (CONTINUED) Number of Warrants Repurchased Amount of Repurchase ($ Thousands) Dickinson Financial Corporation II 7,303,000 $7,303.0 2/8/2013 Citizens Bancshares Co. 1,250,000 1,250.0 2/8/2013 Delmar Bancorp 450,000 450.0 Repurchase Date Institution 2/8/2013 2/8/2013 F & M Bancshares, Inc. 230,000 230.0 2/8/2013 First Priority Financial Corp. 229,000 229.0 2/8/2013 Biscayne Bancshares, Inc.a 204,000 204.0 2/8/2013 Waukesha Bankshares, Inc. 169,000 169.0 2/15/2013 BancTrust Financial 730,994 15.0 a 2/20/2013 National Bancshares, Inc. 1,233,000 1,233.0 2/20/2013 FC Holdings, Inc. 1,052,000 1,052.0 2/20/2013 First Trust Corporation 898,000 898.0 2/20/2013 Ridgestone Financial Services, Inc.a 545,000 545.0 2/20/2013 First Sound Bank 114,080 — 2/22/2013 Standard Bancshares, Inc.a 300,000 300.0 3/8/2013 Santa Clara Valley Bank 145,000 145.0 3/11/2013 First Reliance Bancshares, Inc. 767,000 767.0 3/11/2013 SouthCrest Financial Group, Inc.a 645,000 645.0 3/11/2013 Queensborough Company, The 600,000 600.0 3/11/2013 Northwest Bancorporation, Inc. 525,000 525.0 3/11/2013 CoastalSouth Bancshares, Inc. 480,000 480.0 3/11/2013 Boscobel Bancorp, Inc 279,000 279.0 3/27/2013 Stonebridge Financial Corp. 549,000 549.0 3/27/2013 Fidelity Bancorp, Inca 197,000 197.0 4/9/2013 PremierWest Bancorp 109,039 — 4/10/2013 Coastal Banking Company, Inc. 60,000 99.0 4/11/2013 First Security Group, Inc. 82,363 — 4/19/2013 Carolina Bank Holdings, Inc. 357,675 1,800.0 4/19/2013 BCSB Bancorp, Inc. 183,465 1,442.0 4/19/2013 Carrollton Bancorp 205,379 213.6 4/24/2013 Business Bancshares, Inc. 750,000 750.0 4/24/2013 Green Circle Investments, Inc. 120,000 120.0 4/24/2013 NEMO Bancshares Inc.a 117,000 117.0 4/26/2013 Mid-Wisconsin Financial Services, Inc. 500,000 500.0 4/29/2013 BancStar, Inc. 430,000 430.0 4/29/2013 Tennessee Valley Financial Holdings, Inc. 150,000 150.0 4/29/2013 Brogan Bankshares, Inc.a 120,000 120.0 4/29/2013 Plato Holdings Inc.a 107,000 107.0 5/15/2013 NewBridge Bancorp 2,567,255 7,778.8 5/15/2013 Guaranty Federal Bancshares, Inc. 459,459 2,003.3 5/15/2013 TowneBank 554,330 1,500.0 5/15/2013 River Valley Bancorporation, Inc.a 750,000 750.0 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 3/31/2016 Repurchase Date Institution 5/22/2013 First Financial Holdings Inc. (CONTINUED) Number of Warrants Repurchased Amount of Repurchase ($ Thousands) 241,696 $1,400.0 5/22/2013 Plumas Bancorp 237,712 234.5 5/29/2013 Southwest Bancorp, Inc. 703,753 2,287.2 5/29/2013 The Bank Of Kentucky Financial Corporation 276,078 2,150.6 6/5/2013 Patterson Bancshares, Inc 185,000 185.0 6/12/2013 Hawthorn Bancshares, Inc. 287,134 540.0 6/12/2013 Coastal Banking Company, Inc. 145,579 225.6 6/12/2013 IBT Bancorp, Inc. 115,000 115.0 6/24/2013 Security State Bank Holding-Companya 538,000 538.0 6/24/2013 Pathway Bancorp 186,000 186.0 6/24/2013 Worthington Financial Holdings, Inc. 136,000 136.0 6/24/2013 Farmers & Merchants Financial Corporation 22,000 22.0 4,238,000 4,238.0 75,000 75.0 385,000 385.0 6/26/2013 Metropolitan Bank Group, Inc. 7/10/2013 Vision Bank - Texas 7/17/2013 Commonwealth Business Bank 7/22/2013 Crosstown Holding Company/21st Century Bank 533,000 533.0 7/22/2013 Alarion Financial Services, Inc. 326,000 326.0 7/22/2013 Premier Financial Corpa 317,000 317.0 7/22/2013 Fidelity Federal Bancorp 200,000 200.0 7/22/2013 Mountain Valley Bancshares, Inc. 165,000 165.0 7/22/2013 Omega Capital Corp./Front Range Bank 141,000 141.0 7/22/2013 ColoEast Bankshares, Inc. 7/24/2013 New York Private Bank & Trust Corp./Emigrant Bank 7/31/2013 Security Federal Corporation 8/7/2013 Heritage Oaks Bancorp 8/12/2013 First Banks, Inc. 50,000 50.0 13,364,000 13,364.0 137,966 50.0 611,650 1,575.0 14,770,000 14,770.0 8/12/2013 Universal Bancorp/Bloomfield State Bank 495,000 495.0 8/12/2013 First Intercontinental Bank 320,000 320.0 8/12/2013 Virginia Company Bank 143,000 143.0 8/12/2013 Community Pride Bank Corporationa 132,000 132.0 8/14/2013 Florida Bank Group, Inc. 8/28/2013 Unity Bancorp, Inc. 8/28/2013 Avidbank Holdings, Inc (Formerly Peninsula Bank Holding Co.) 1,024,000 1,024.0 764,778 2,707.3 81,670 190.8 8/28/2013 Hometown Bancorp of Alabama, Inc. 163,000 163.0 8/30/2013 First M&F Corporation 513,113 4,089.5 8/30/2013 BNB Financial Services Corporation 375,000 375.0 8/30/2013 Independent Bank Corporation 346,154 — 9/18/2013 PeoplesSouth Bancshares, Inc. 9/25/2013 Reliance Bancshares, Inc. 616,000 616.0 2,000,000 2,000.0 9/25/2013 RCB Financial Corporation (River City Bank) 268,000 268.0 9/25/2013 Todd Bancshares, Inc./United Southern Bank 200,000 200.0 Continued on next page 493 494 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 3/31/2016 Repurchase Date Institution 9/25/2013 Ojai Community Bank 9/25/2013 DeSoto County Bank 9/27/2013 Anchor Bancorp Wisconsin, Inc. (CONTINUED) Number of Warrants Repurchased Amount of Repurchase ($ Thousands) 104,000 $104.0 59,000 59.0 7,399,103 — 9/30/2013 Randolph Bank & Trust Company 311,000 311.0 10/1/2013 Commerce National Bank 302,623 2,920.0 10/1/2013 Central Virginia Bankshares, Inc. 344,742 1,547.9 10/2/2013 Union Financial Corporation 10/16/2013 Uwharrie Capital Corp/Bank of Stanly 10/16/2013 Independence Bank 10/21/2013 Spirit BankCorp. Inc./Spirit Bank 65,000 65.0 500,000 500.0 53,000 53.0 1,500,000 1,500.0 10/21/2013 Valley Community Bank 275,000 275.0 10/21/2013 Oregon Bancorp, Inc./Willamette Valley Bank 161,000 161.0 10/21/2013 Bank of George 134,000 134.0 11/13/2013 Valley Financial Corporation 263,542 — 11/15/2013 Monarch Community Bancorp, Inc. 1,846,374 13,107.8 11/19/2013 Bridgeview Bancorp, Inc./Bridgeview Bank Group 1,900,000 1,900.0 11/19/2013 Pacific City Financial Corporation/Pacific City Bank 810,000 810.0 11/19/2013 Midtown Bank & Trust Company 261,000 261.0 11/19/2013 Madison Financial Corporation 169,000 169.0 11/20/2013 CedarStone Bank 178,000 178.0 12/9/2013 Cathay General Bancorp 52,192 — 12/18/2013 Stellarone Corporation 87,209 566.9 12/31/2013 Farmers Bank 438,000 438.0 12/31/2013 1st Financial Services Corporation 276,815 — 2,696,203 33,263.0 203,000 203.0 1/31/2014 Virginia Commerce Bancorp, Inc. 1/31/2014 Pacific Commerce Bank 1/31/2014 Premier Service Bank 200,000 200.0 2/10/2014 Community First Bancshares, Inc. 636,000 636.0 2/10/2014 Georgia Primary Bank 225,000 225.0 2/10/2014 Atlantic Bancshares, Inc. 98,000 98.0 3/17/2014 BNCCORP, Inc. 1,005,000 1,005.0 3/17/2014 Chicago Shore Corporation (Delaware Place Bank) 350,000 350.0 3/17/2014 Meridian Bank 310,000 310.0 3/17/2014 IA Bancorp, Inc/Indus American Bank 179,000 179.0 3/19/2014 Kirksville Bancorp, Inc./American Trust Bank 24,000 24.0 3/28/2014 First Southwest Bancorporation, Inc. 275,000 275.0 3/28/2014 AmFirst Financial Services, Inca 250,000 250.0 3/28/2014 Alliance Bancshares, Inc. 149,000 149.0 4/1/2014 Alaska Pacific Bancshares, Inc. 175,772 2,370.9 4/2/2014 Duke Financial Group, Inc. (Peoples Bank of Commerce)a 4/14/2014 Patriot Bancshares, Inc./Patriot Bank 600,000 600.0 1,302,000 1,302.0 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 3/31/2016 (CONTINUED) Number of Warrants Repurchased Institution 4/14/2014 Community First Inc. 4/14/2014 Great River Holding Company 4/14/2014 Freeport Bancshares, Inc. (Midwest Community Bank)a a Amount of Repurchase ($ Thousands) 890,000 Repurchase Date $890.0 420,000 420.0 150,000 150.0 4/23/2014 Wachusett Financial Services, Inc. 478,000 478.0 4/24/2014 Bankers' Bank of the West Bancorp, Inc. 632,000 632.0 4/30/2014 Covenant Financial Corporation 250,000 250.0 4/30/2014 Northern States Financial Corporation 584,084 — 4/30/2014 Provident Community Bancshares, Inc. 178,880 — 5/14/2014 C&F Financial Corporation 167,504 2,303.2 5/14/2014 Riverside Bancshares, Inc.a 55,000 55.0 6/4/2014 Community Bankers Trust Corporation 780,000 780.0 6/11/2014 Vantagesouth Bancshares, Inc. (Crescent Financial Bancshares, Inc.) 833,705 1,681.0 6/11/2014 Vantagesouth Bancshares, Inc. (ECB Bancorp, Inc.) 514,693 871.0 248,000 248.0 85,000 85.0 840,000 840.0 6/25/2014 Private Bancorporation, Inc./Private Bank Minnesota 6/30/2014 BCB Holding Company, Inc. (Bay Bank) 7/2/2014 White River Bancshares Company/Signature Bank of Arkansas 7/2/2014 United American Bank 435,000 435.0 7/2/2014 Market Bancorporation, Inc/New Market Bank 105,000 105.0 7/2/2014 Maryland Financial Bank 7/3/2014 Marine Bank & Trust Company 85,000 85.0 150,000 150.0 7/16/2014 First Community Bancshares, Inc/First Community Bank 740,000 740.0 7/16/2014 Bank of the Carolinas Corporation 475,204 — 2,093,284 3,000.0 500,000 500.0 1,125,000 1,125.0 7/23/2014 Popular, Inc. 7/23/2014 Greer Bancshares Incorporated 8/29/2014 Central Bancorp, Inc./United Central Bank 9/3/2014 Intervest Bancshares Corporation 691,882 2,892.1 10/15/2014 Centrue Financial Corporation 508,320 2,000.0 10/17/2014 Regent Bancorp, Inc 499,000 499.0 10/17/2014 Rising Sun Bancorp 299,000 299.0 10/24/2014 Highlands Independent Bancshares, Inc. 335,000 335.0 10/31/2014 Intermountain Community Bancorp 65,323 10,635.0 11/7/2014 Western Community Bancshares, Inc. 365,000 365.0 11/19/2014 Crazy Woman Creek Bancorp, Inc. 155,000 155.0 12/4/2014 Lone Star Bank 154,000 154.0 12/10/2014 NCAL Bancorp 500,000 500.0 1/1/2015 Farmers & Merchants Bancshares, Inc. 550,000 550.0 1/7/2015 Blue Valley Ban Corp 130,977 3.1 1/14/2015 Liberty Bancshares, Inc. (TX) 196,000 196.0 2/11/2015 Community Bancshares, Inc. (Mission Bank) 116,000 116.0 3/11/2015 First Defiance Financial Corp. 550,595 11,979.3 Continued on next page 495 496 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 3/31/2016 Repurchase Date Institution (CONTINUED) Number of Warrants Repurchased Amount of Repurchase ($ Thousands) 3/15/2015 U.S. Century Bank 251,200 $2,512.0 4/1/2015 Chambers Bancshares, Inc. 991,000 991.0 4/15/2015 Citizens First Corporation 254,218 1,705.8 5/6/2015 Premier Financial Bancorp, Inc. 636,378 5,675.0 5/6/2015 Wesbanco, Inc. 101,321 2,246.5 5/6/2015 The Elmira Savings Bank, FSB 5/13/2015 Firstmerit Corporation 5/13/2015 Southern Missouri Bancorp, Inc. 5/13/2015 The First Bancshares, Inc. 151,030 1,486.3 2,571,998 12,150.1 231,891 2,700.0 54,705 302.4 5/13/2015 Eastern Virginia Bankshares, Inc. 384,041 115.0 5/13/2015 United Bancorporation of Alabama, Inc. 111,258 10.1 6/29/2015 Prairie Star Bancshares, Inc./Bank of the Prairie 140,000 140.0 6/29/2015 SouthFirst Bancshares, Inc. 138,000 138.0 6/29/2015 Citizens Bank & Trust Company 120,000 120.0 6/29/2015 CSRA Bank Corp./First State Bank 120,000 120.0 6/29/2015 Metropolitan Capital Bancorp, Inc. (Metropolitan Capital Bank) 102,000 102.0 7/1/2015 First Financial Service Corporation 215,983 2,500.0 7/8/2015 Grand Financial Corporationa 122,000 122.0 7/15/2015 Farmers & Merchants Bancshares, Inc. 550,000 550.0 7/16/2015 Suburban Illinois Bancorp, Inc.a 750,000 750.0 8/28/2015 Patapsco Bancorp, Inc. 300,000 300.0 9/21/2015 Goldwater Bank, N.A. 128,000 128.0 10/2/2015 Capital Commerce Bancorp, Inc. (Securant Bank & Trust) 85,000 85.0 233,000 233.0 52,000 52.0 12/23/2015 Calwest Bancorp/South County Bank 2/17/2016 Calvert Financial Corporation 3/23/2016 US Metro Bank Total 143,000 143.0 675,980,081 $4,134,325.9 Notes: Numbers may not total due to rounding. This table represents the preferred shares held by Treasury as a result of the exercise of warrants issued by nonpublicly traded TARP recipients. These warrants were exercised immediately upon the transaction date. Treasury may hold one warrant for millions of underlying shares rather than millions of warrants of an individual financial institution. a S-Corporation Institution: issued subordinated debt instead of preferred stock. b Transferred to CDCI. c For The Bank of Currituck, the Transactions Report listed “N/A” for the final disposition date, description, and proceeds. d Treasury made two investments in Medallion Bank one on 12/22/2009 for $9.7 million which corresponds to the 55,000 warrants repurchased and another on 2/27/2009 for $11.8 million which corresponds to the 590,000 warrants repurchased. e Treasury made two investments in Catskill Hudson Bancorp, Inc. one on 12/22/2009 for $3.5 million which corresponds to the 113,000 warrants repurchased and another on 2/27/2009 for $3.0 million which corresponds to the 150,000 warrants repurchased. f The liquidation preference is at 10,000 per share as opposed to the typical 1,000 per share. g Warrant sales to third parties. h State Street Corporation reduced its original amount of warrants issued through a qualified equity offering. i Treasury sold its TARP investment to a third party and assigned a value of zero to the warrant portion. Sources: Treasury, Transactions Report, 3/25/2016; Treasury, responses to SIGTARP data call, 4/8/2016. CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 497 TABLE E.8 PUBLIC TREASURY WARRANT AUCTIONS, AS OF 3/31/2016 Auction Date 3/3/2010 Number of Warrants Offered Minimum Bid Price Selling Price Proceeds to Treasury ($ Millions) Bank of America A Auction (TIP)a 150,375,940 $7.00 $8.35 $1,255.6 Bank of America B Auction (CPP)a 121,792,790 1.50 2.55 310.6 Company 12/10/2009 JPMorgan Chase 5/20/2010 Wells Fargo and Company 88,401,697 8.00 10.75 950.3 110,261,688 6.50 7.70 849.0 9/21/2010 4/29/2010 Hartford Financial Service Group, Inc. 52,093,973 10.50 13.70 713.7 PNC Financial Services Group, Inc. 16,885,192 15.00 19.20 324.2 Citigroup A Auction (TIP & AGP) 255,033,142 0.60 1.01 257.6 Citigroup B Auction (CPP)a 210,084,034 0.15 0.26 54.6 a 1/25/2011 9/16/2010 Lincoln National Corporation 13,049,451 13.50 16.60 216.6 5/6/2010 Comerica Inc. 11,479,592 15.00 16.00 183.7 12/3/2009 Capital One 12,657,960 7.50 11.75 148.7 11/29/2012 M&T Bank Corporation 1,218,522 23.50 1.35 32.3 2/8/2011 Wintrust Financial Corporation 1,643,295 13.50 15.80 26.0 6/2/2011 Webster Financial Corporation 3,282,276 5.50 6.30 20.4 SunTrust A Auctionb 6,008,902 2.00 2.70 16.2 SunTrust B Auctionb 11,891,280 1.05 1.20 14.2 1,707,456 5.00 5.00 15.6 595,829 16.00 19.00 11.3 9/22/2011 3/9/2010 Washington Federal, Inc. 3/10/2010 Signature Bank 12/15/2009 TCF Financial 3,199,988 1.50 3.00 9.6 12/5/2012 Zions Bancorporation 5,789,909 23.50 26.50 7.8 3/11/2010 Texas Capital Bancshares, Inc. 2/1/2011 Boston Private Financial Holdings, Inc. 758,086 6.50 6.50 6.7 2,887,500 1.40 2.20 6.4 5/18/2010 Valley National Bancorp 2,532,542 1.70 2.20 5.6 11/30/2011 Associated Banc-Corpc 3,983,308 0.50 0.90 3.6 6/2/2010 First Financial Bancorp 6/9/2010 Sterling Bancshares Inc. Total 465,117 4.00 6.70 3.1 2,615,557 0.85 1.15 3.0 1,090,695,026 $5,446.4 Notes: Numbers may not total due to rounding. a Treasury held two auctions each for the sale of Bank of America and Citigroup warrants. b Treasury held two auctions for SunTrust’s two CPP investments dated 11/14/2008 (B auction) and 12/31/2008 (A auction). c According to Treasury, the auction grossed $3.6 million and netted $3.4 million. Sources: The PNC Financial Services Group, Inc., “Final Prospectus Supplement,” 4/29/2010, www.sec.gov/Archives/edgar/data/713676/000119312510101032/d424b5.htm, accessed 4/1/2016; Valley National Bancorp, “Final Prospectus Supplement,” 5/18/2010, www.sec.gov/Archives/edgar/data/714310/000119312510123896/d424b5.htm, accessed 4/1/2016; Comerica Incorporated, “Final Prospectus Supplement,” 5/6/2010, www.sec.gov/Archives/edgar/data/28412/000119312510112107/d424b5.htm, accessed 4/1/2016; Wells Fargo and Company, “Definitive Prospectus Supplement,” 5/20/2010, www.sec.gov/Archives/edgar/data/72971/000119312510126208/d424b5.htm, accessed 4/1/2016; First Financial Bancorp, “Prospectus Supplement,” 6/2/2010, www.sec.gov/Archives/edgar/data/708955/000114420410031630/v187278_424b5.htm, accessed 4/1/2016; Sterling Bancshares, Inc., “Prospectus Supplement,” 6/9/2010, www.sec.gov/Archives/edgar/data/891098/000119312510136584/dfwp.htm, accessed 4/1/2016; Signature Bank, “Prospectus Supplement,” 3/10/2010, files.shareholder.com/downloads/ SBNY/1456015611x0x358381/E87182B5-A552-43DD-9499-8B56F79AEFD0/8-K Reg_FD_Offering_Circular.pdf, accessed 4/1/2016; Texas Capital Bancshares, Inc., “Prospectus Supplement,” 3/11/2010, www.sec.gov/Archives/edgar/data/1077428/000095012310023800/d71405ae424b5.htm, accessed 4/1/2016; Bank of America, “Form 8-K,” 3/3/2010, www.sec.gov/Archives/edgar/ data/70858/000119312510051260/d8k.htm, accessed 4/1/2016; Bank of America, “Prospectus Supplement,” 3/1/2010, www.sec.gov/Archives/edgar/data/70858/000119312510045775/ d424b2.htm, accessed 4/1/2016; Washington Federal, Inc., “Prospectus Supplement,” 3/9/2010, www.sec.gov/Archives/edgar/data/936528/000119312510052062/d424b5.htm, accessed 4/1/2016; TCF Financial, “Prospectus Supplement,” 12/16/2009, www.sec.gov/Archives/edgar/data/814184/000104746909010786/a2195869z424b5.htm, accessed 4/1/2016; JPMorgan Chase, “Prospectus Supplement,” 12/11/2009, www.sec.gov/Archives/edgar/data/19617/000119312509251466/d424b5.htm, accessed 4/1/2016; Capital One Financial, “Prospectus Supplement,” 12/3/2009, www.sec.gov/Archives/edgar/data/927628/000119312509247252/d424b5.htm, accessed 4/1/2016; Treasury, Transactions Report, 9/30/2013; Hartford Financial Services Group, Prospectus Supplement to Prospectus filed with the SEC 8/4/2010, www.sec.gov/Archives/edgar/data/874766/000095012310087985/y86606b5e424b5.htm, accessed 4/1/2016; Treasury, “Treasury Announces Pricing of Public Offering to Purchase Common Stock of The Hartford Financial Services Group, Inc.,” 9/22/2010, www.treasury.gov/press-center/press-releases/Pages/tg865. aspx, accessed 4/1/2016; Lincoln National Corporation, Prospectus Supplement to Prospectus filed with SEC 3/10/2009, www.sec.gov/Archives/edgar/data/59558/000119312510211941/ d424b5.htm, accessed 4/1/2016; Lincoln National Corporation, 8-K, 9/22/2010, www.sec.gov/Archives/edgar/data/59558/000119312510214540/d8k.htm, accessed 4/1/2016; Treasury, Section 105(a) Report, 1/31/2011; Treasury, “Treasury Announces Public Offerings of Warrants to Purchase Common Stock of Citigroup Inc.,” 1/24/2011, www.treasury.gov/press-center/press- releases/ Pages/tg1033.aspx, accessed 4/1/2016; Citigroup, Prospectus, 1/24/2011, www.sec.gov/Archives/edgar/data/831001/000095012311004665/y89177b7e424b7.htm, accessed 4/1/2016; Citigroup, Prospectus, 1/24/2011, www.sec.gov/Archives/edgar/data/831001/000095012311004665/y89177b7e424b7.htm, accessed 4/1/2016; Boston Private Financial Holdings, Inc., Prospectus, 1/28/2011, www.sec.gov/Archives/edgar/data/821127/000119312511021392/d424b5.htm, accessed 4/1/2016; Boston Private Financial Holdings, Inc. 8-K, 2/7/2011, www.sec. gov/Archives/edgar/data/821127/000144530511000189/tarpwarrant020711.htm, accessed 4/1/2016; Wintrust Financial Corporation, Prospectus, 2/8/2011, www.sec.gov/Archives/edgar/ data/1015328/000095012311011007/c62806b5e424b5.htm, accessed 4/1/2016; Treasury, Section 105(a) Report, 1/31/2011; Treasury, “Treasury Announces Public Offerings of Warrants to Purchase Common Stock of Citigroup Inc.,” 1/24/2011, www.treasury.gov/press-center/press-releases/Pages/tg1033.aspx, accessed 4/1/2016; Treasury, Citigroup Preliminary Prospectus – CPP Warrants, 1/24/2011, www.sec.gov/Archives/edgar/data/831001/000095012311004666/y89178b7e424b7.htm, accessed 4/1/2016; Citigroup, Preliminary Prospectus – TIP & AGP Warrants, 1/24/2011, www.sec.gov/Archives/edgar/data/831001/000095012311004665/y89177b7e424b7.htm, accessed 4/1/2016; Treasury, responses to SIGTARP data call, 4/6/2011, 7/14/2011, 10/5/2011, 10/11/2011, and 1/11/2012; Treasury Press Release, “Treasury Department Announces Public Offerings of Warrants to Purchase Common Stock of SunTrust Banks, Inc.,” 9/21/2011, www.treasury.gov/press-center/press-releases/Pages/tg1300.aspx, accessed 4/1/2016; “Treasury Department Announces Public Offering of Warrants to Purchase Common Stock of Associated Banc-Corp,” 11/29/2011, www.treasury.gov/press-center/press-releases/Pages/tg1372.aspx, accessed 4/1/2016; Treasury, “Treasury Department Announces Public Offering of Warrant to Purchase Common Stock of M&T Bank Corporation,” 12/10/2012, www.treasury.gov/press-center/press-releases/Pages/tg1793.aspx, accessed 4/1/2016; Treasury, “Treasury Department Announces Public Offering of Warrants to Purchase Common Stock of Zions Bancorporation,” 11/28/2012, www.treasury.gov/press-center/press-releases/Pages/tg1782.aspx, accessed 4/1/2016. 498 APPENDIX E I CPP SUPPLEMENTAL DATA I APRIL 27, 2016 TABLE E.9 PRIVATE TREASURY WARRANT AUCTIONS AS OF 3/31/2016 Number of Warrants Offered Proceeds to Treasury Eagle Bancorp, Inc. 385,434 $2,794,422 11/17/2011 Horizon Bancorp 212,188 1,750,551 11/17/2011 Bank of Marin Bancorp 154,908 1,703,984 Date Company 11/17/2011 11/17/2011 First Bancorp (of North Carolina) 616,308 924,462 11/17/2011 Westamerica Bancorporation 246,698 878,256 11/17/2011 Lakeland Financial Corp 198,269 877,557 11/17/2011 F.N.B. Corporation 651,042 690,100 11/17/2011 Encore Bancshares 364,026 637,071 11/17/2011 LCNB Corporation 217,063 602,557 11/17/2011 Western Alliance Bancorporation 787,107 415,000 11/17/2011 First Merchants Corporation 991,453 367,500 11/17/2011 1st Constitution Bancorp 231,782 326,576 11/17/2011 Middleburg Financial Corporation 104,101 301,001 11/17/2011 MidSouth Bancorp, Inc. 104,384 206,557 11/17/2011 CoBiz Financial Inc. 895,968 143,677 11/17/2011 First Busey Corporation 573,833 63,677 11/17/2011 First Community Bancshares, Inc. 88,273 30,600 6/6/2013 Banner Corporation 243,998 134,201 6/6/2013 Carolina Trust Bank 86,957 19,132 6/6/2013 Central Pacific Financial Corp. 6/6/2013 Colony Bankcorp, Inc. 79,288 751,888 500,000 810,000 6/6/2013 Community West Bancshares 521,158 698,351 6/6/2013 Flagstar Bancorp, Inc. 645,138 12,905 6/6/2013 Heritage Commerce Corp 462,963 140,000 6/6/2013 International Bancshares Corporation 1,326,238 4,018,511 6/6/2013 Mainsource Financial Group, Inc. 571,906 1,512,177 6/6/2013 Metrocorp Bancshares, Inc. 771,429 2,087,368 6/6/2013 Old Second Bancorp, Inc. 815,339 106,891 6/6/2013 Parke Bancorp, Inc. 438,906 1,650,288 6/6/2013 S&T Bancorp, Inc. 517,012 527,361 6/6/2013 Timberland Bancorp, Inc. 370,899 1,301,856 6/6/2013 United Community Banks, Inc. 219,908 6,677 6/6/2013 Yadkin Financial Corporation 91,178 55,677 6/6/2013 Yadkin Financial Corporation 128,663 20,000 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I APRIL 27, 2016 PRIVATE TREASURY WARRANT AUCTIONS AS OF 3/31/2016 (CONTINUED) Date Company 5/28/2015 BBCN Bancorp, Inc. 5/28/2015 City Holding Company 5/28/2015 Community One Bancorp 5/28/2015 Fidelity Southern Corporation Number of Warrants Offered Proceeds to Treasury 350,767 $1,115,500 61,796 873,485 22,071 10,357 2,693,747 31,429,313 5/28/2015 First United Corporation 326,323 117,162 5/28/2015 Parkvale Financial Corporation/ F.N.B. Corporation 819,640 6,025,650 5/28/2015 Annapolis Bancorp, Inc./F.N.B. Corporation 367,916 3,735,578 5/28/2015 HMN Financial, Inc. 833,333 5,529,582 5/28/2015 The First Bancorp, Inc. 226,819 389,078 5/28/2015 Valley National Bancorp 488,847 100,567 20,725,790 $75,893,102 Total Sources: “Treasury Announces Completion of Private Auction to Sell Warrant Positions,” 11/18/2011, www.treasury.gov/presscenter/press-releases/Pages/tg1365.aspx, accessed 4/1/2016; “Treasury Completes Auction to Sell Warrants Positions,” 6/6/2013, www.treasury.gov/press-center/press-releases/Pages/jl1972.aspx, accessed 4/1/2016; “Treasury Completes Auction to Sell Warrant Positions,” 5/21/2015, www.treasury.gov/press-center/press-releases/Pages/jl10058.aspx, accessed 4/1/2016. 499 500 APPENDIX F I OFS SERVICE CONTRACTS I APRIL 27, 2016 OFS SERVICE CONTRACTS TABLE F.1 OFS SERVICE CONTRACTS Date Vendor Purpose 10/10/2008 Simpson Thacher & Bartlett LLP Legal services for the implementation of TARP 10/11/2008 Ennis Knupp & Associates Inc.1 10/14/2008 Type of Transaction Obligated Value Expended Value Contract $931,090 $931,090 Investment and Advisory Services Contract 2,635,827 2,635,827 The Bank of New York Mellon Custodian Financial Agent 63,006,185 60,875,635 10/16/2008 PricewaterhouseCoopers LLP Internal control services Contract 33,617,800 33,505,992 10/17/2008 Turner Consulting Group, Inc.2 For process mapping consultant services Interagency Agreement 9,000 — 10/18/2008 Ernst & Young LLP Accounting Services Contract 13,640,626 13,640,626 10/29/2008 Hughes Hubbard & Reed LLP Legal services for the Capital Purchase Program Contract 2,835,357 2,835,357 10/29/2008 Squire, Sanders & Dempsey LLP Legal services for the Capital Purchase Program Contract 2,687,999 2,687,999 10/31/2008 Lindholm & Associates, Inc. Human resources services Contract 614,963 614,963 11/7/2008 Sonnenschein Nath & Rosenthal LLP4 Legal services related to auto industry loans Contract 2,702,441 2,702,441 11/9/2008 Internal Revenue Service (IRS) Detailees Interagency Agreement 97,239 97,239 11/17/2008 Internal Revenue Service (IRS) IT Services Interagency Agreement 8,095 8,095 11/25/2008 Department of the Treasury Departmental Offices Administrative Support Interagency Agreement 16,131,121 16,131,121 12/3/2008 Trade and Tax Bureau - Treasury IAA —TTB Development, Mgmt & Operation of SharePoint Interagency Agreement 67,489 67,489 12/5/2008 Washington Post3 Subscription Interagency Agreement 395 — 12/10/2008 Sonnenschein Nath & Rosenthal LLP4 Legal services for the purchase of asset-backed securities Contract 102,769 102,769 12/10/2008 Thacher Proffitt & Wood LLP4 Admin action to correct system issue Contract — — 12/15/2008 Office of Thrift Supervision Detailees Interagency Agreement 164,823 164,823 12/16/2008 Department of Housing and Urban Development Detailees Interagency Agreement — — 12/22/2008 Office of Thrift Supervision Detailees Interagency Agreement — — 12/24/2008 Cushman And Wakefield Of VA Inc. Painting Services for TARP Offices Contract 8,750 8,750 1/6/2009 U.S. Securities and Exchange Commission Detailees Interagency Agreement 30,416 30,416 1/7/2009 Colonial Parking Inc. Lease of parking spaces Contract 275,217 244,017 1/27/2009 Cadwalader Wickersham & Taft LLP Bankruptcy Legal Services Contract 409,955 409,955 1/27/2009 Whitaker Brothers Business Machines Inc Paper Shredder Contract 3,213 3,213 Continued on next page OFS SERVICE CONTRACTS I APPENDIX F I APRIL 27, 2016 OFS SERVICE CONTRACTS (CONTINUED) Date Vendor Purpose 1/30/2009 Office of the Comptroller of the Currency Detailees 2/2/2009 Government Accountability Office 2/3/2009 Type of Transaction Obligated Value Expended Value Interagency Agreement $501,118 $501,118 IAA —GAO required by P.L. 110343 to conduct certain activities related to TARP Interagency Agreement 7,459,049 7,459,049 Internal Revenue Service (IRS)2 Detailees Interagency Agreement 242,499 242,499 2/9/2009 Pat Taylor and Associates, Inc. Temporary Services for Document Production, FOIA assistance, and Program Support Contract 692,108 692,108 2/12/2009 Locke Lord Bissell & Liddell LLP Initiate Interim Legal Services in support of Treasury Investments under EESA Contract 272,243 272,243 2/18/2009 Fannie Mae Homeownership Preservation Program Financial Agent 591,062,126 538,321,915 2/18/2009 Freddie Mac Homeownership Preservation Program Financial Agent 413,394,582 370,626,169 2/20/2009 Financial Clerk U.S. Senate Congressional Oversight Panel Interagency Agreement 3,394,348 3,394,348 2/20/2009 Office of Thrift Supervision Detailees Interagency Agreement 189,533 189,533 2/20/2009 Simpson Thacher & Bartlett LLP Capital Assistance Program (I) Contract 1,530,023 1,530,023 2/20/2009 Venable LLP Capital Assistance Program (II) Legal Services Contract 1,394,724 1,394,724 2/26/2009 U.S. Securities and Exchange Commission Detailees Interagency Agreement 18,531 18,531 2/27/2009 Pension Benefit Guaranty Corporation Financial Advisory Services Related to Auto Program Interagency Agreement 7,750,000 7,750,000 3/6/2009 The Boston Consulting Group Management Consulting relating to the Auto industry Contract 991,169 991,169 3/16/2009 EARNEST Partners Small Business Assistance Program Financial Agent 2,947,780 2,947,780 3/30/2009 Bingham McCutchen LLP5 SBA Initiative Legal Services — Contract Novated from TOFS09-D-0005 with McKee Nelson Contract 143,893 143,893 3/30/2009 Cadwalader Wickersham & Taft LLP Auto Investment Legal Services Contract 17,392,786 17,392,786 3/30/2009 Haynes and Boone LLP Auto Investment Legal Services Contract 345,746 345,746 3/30/2009 Mckee Nelson LLP5 SBA Initiative Legal Services — Contract Novated to TOFS-10-D-0001 with Bingham McCutchen LLP Contract 149,349 126,631 3/30/2009 Sonnenschein Nath & Rosenthal LLP4 Auto Investment Legal Services Contract 1,834,193 1,834,193 3/31/2009 FI Consulting Inc. Credit Reform Modeling and Analysis Contract 4,846,062 4,058,275 Continued on next page 501 502 APPENDIX F I OFS SERVICE CONTRACTS I APRIL 27, 2016 OFS SERVICE CONTRACTS (CONTINUED) Type of Transaction Date Vendor Purpose Obligated Value Expended Value 4/3/2009 American Furniture Rentals, Inc.3 Furniture Rental 1801 Interagency Agreement $37,238 $25,808 4/3/2009 The Boston Consulting Group Management Consulting relating to the Auto industry Contract 3,849,923 3,849,923 4/17/2009 Bureau of Engraving and Printing (BEP) Detailee for PTR Support Interagency Agreement 45,822 45,822 4/17/2009 Herman Miller, Inc. Aeron Chairs Contract 53,799 53,799 4/21/2009 AllianceBernstein L.P. Asset Management Services Financial Agent 52,280,726 52,164,384 4/21/2009 FSI Group, LLC Asset Management Services Financial Agent 27,438,003 27,438,003 4/21/2009 Piedmont Investment Advisors, LLC Asset Management Services Financial Agent 12,896,927 12,896,927 4/30/2009 U.S. Department of State Detailees Interagency Agreement — — 5/5/2009 Federal Reserve Board Detailees Interagency Agreement 48,422 48,422 5/13/2009 Department of Treasury - US Mint Making Home Affordable Logo search Interagency Agreement 325 325 5/14/2009 KnowledgeBank, Inc.2 Executive Search and recruiting Services — Chief Homeownership Officer Contract 124,340 124,340 5/15/2009 Phacil, Inc. Freedom of Information Act (FOIA) Analysts to support the Disclosure Services, Privacy and Treasury Records Contract 90,304 90,304 5/20/2009 U.S. Securities and Exchange Commission Support Services for Mark-tomarket study and FinSOB Interagency Agreement 430,000 430,000 5/22/2009 Department of Justice - ATF Detailees Interagency Agreement 243,772 243,772 5/26/2009 Anderson McCoy & Orta Legal services for work under Treasury’s Public-Private Investment Funds (PPIF) program Contract 2,286,996 2,286,996 5/26/2009 Simpson Thacher & Bartlett LLP Legal services for work under Treasury’s Public-Private Investment Funds (PPIF) program Contract 6,564,507 3,526,454 6/9/2009 Financial Management Service Development of an Information Management Plan (IMP) Interagency Agreement 89,436 89,436 6/29/2009 Department of the Interior Federal Consulting Group (Foresee) Interagency Agreement 49,000 49,000 7/17/2009 Korn/Ferry International Executive search services for the OFS Chief Investment Officer position Contract 74,023 74,023 7/30/2009 Cadwalader Wickersham & Taft LLP Restructuring Legal Services Contract 1,278,696 1,278,696 7/30/2009 Debevoise & Plimpton, LLP Restructuring Legal Services Contract 1,650 1,650 7/30/2009 Fox, Swibel, Levin & Carroll, LLP Restructuring Legal Services Contract 26,493 26,493 Continued on next page 503 OFS SERVICE CONTRACTS I APPENDIX F I APRIL 27, 2016 OFS SERVICE CONTRACTS (CONTINUED) Date Vendor Purpose 8/10/2009 U.S. Department of Justice Detailees 8/10/2009 NASA 8/18/2009 Type of Transaction Obligated Value Expended Value Interagency Agreement $54,569 $54,569 Detailees Interagency Agreement 140,888 140,888 The Mercer Group, Inc. Executive Compensation Data Subscription Contract 3,000 3,000 8/25/2009 U.S. Department of Justice Detailees Interagency Agreement 63,248 63,248 9/2/2009 Knowledge Mosaic Inc. SEC filings subscription service Contract 5,000 5,000 9/10/2009 Equilar, Inc. Executive Compensation Data Subscription Contract 59,990 59,990 9/11/2009 PricewaterhouseCoopers LLP PPIP compliance Contract 3,559,089 3,559,089 9/18/2009 Department of the Treasury ARC Administrative Resource Center Interagency Agreement 436,054 436,054 9/30/2009 ImmixTechnology, Inc.3 eDiscovery Interagency Agreement 210,184 — 9/30/2009 ImmixTechnology, Inc.3 Professional Services Interagency Agreement 18,000 — 9/30/2009 Nna Incorporated Newspaper Delivery Contract 8,220 8,220 9/30/2009 SNL Financial LC SNL Unlimited, a web-based financial analytics service Contract 460,000 460,000 11/9/2009 Department of the Treasury Departmental Offices Administrative Support Interagency Agreement 17,772,584 17,772,584 12/16/2009 Internal Revenue Service (IRS) Detailees Interagency Agreement — — 12/22/2009 Avondale Investments, LLC Asset Management Services Financial Agent 772,657 772,657 12/22/2009 Bell Rock Capital, LLC Asset Management Services Financial Agent 2,815,292 2,815,292 12/22/2009 Hughes Hubbard & Reed LLP Document Production Services and Litigation Support Contract 2,053,503 1,202,402 12/22/2009 KBW Asset Management, Inc. Asset Management Services Financial Agent 4,937,433 4,937,433 12/22/2009 Lombardia Capital Partners, LLC Asset Management Services Financial Agent 3,217,866 3,217,866 12/22/2009 Paradigm Asset Management Co., LLC Asset Management Services Financial Agent 5,027,999 5,027,999 12/22/2009 Raymond James & Associates Inc. (f/k/a Howe Barnes Hoefer & Arnett, Inc.) Asset Management Services Financial Agent 432,068 432,068 12/23/2009 Howe Barnes Hoefer & Arnett, Inc. Asset Management Services Financial Agent 3,124,094 3,124,094 1/14/2010 Government Accountability Office IAA —GAO required by P.L.110343 to conduct certain activities related to TARP Interagency Agreement 7,304,722 7,304,722 1/15/2010 Association of Govt Accountants CEAR Program Application Contract 5,000 5,000 Continued on next page 504 APPENDIX F I OFS SERVICE CONTRACTS I APRIL 27, 2016 OFS SERVICE CONTRACTS (CONTINUED) Date Vendor Purpose 2/16/2010 Internal Revenue Service (IRS) Detailees 2/16/2010 The MITRE Corporation 2/18/2010 Type of Transaction Obligated Value Expended Value Interagency Agreement $52,742 $52,742 FNMA IR2 assessment — OFS task order on Treasury MITRE Contract Contract 730,192 730,192 Department of the Treasury ARC Administrative Resource Center Interagency Agreement 1,221,140 1,221,140 3/8/2010 QualX Corporation FOIA Support Services Contract 549,518 549,518 3/12/2010 Department of the Treasury Departmental Offices Administrative Support Interagency Agreement 671,731 671,731 3/22/2010 Financial Management Service IT Executives signature license Interagency Agreement 73,750 73,750 3/26/2010 Federal Maritime Commission Detailees Interagency Agreement 158,600 158,600 3/29/2010 Morgan Stanley & Co. Incorporated Disposition Agent Services Financial Agent 16,685,290 16,685,290 4/2/2010 Financial Clerk U.S. Senate Congressional Oversight Panel Interagency Agreement 4,797,556 4,797,556 4/8/2010 Squire, Sanders & Dempsey LLP Housing Legal Services Contract 918,224 918,224 4/12/2010 Hewitt EnnisKnupp, Inc.1 Investment Consulting Services Contract 5,460,801 4,242,591 4/22/2010 Digital Management Inc. Data and Document Management Consulting Services Contract — — 4/22/2010 MicroLink, LLC Data and Document Management Consulting Services Contract 19,199,985 17,967,492 4/23/2010 RDA Corporation Data and Document Management Consulting Services Contract 11,661,725 11,529,602 5/4/2010 Internal Revenue Service (IRS) Detailees Interagency Agreement 1,320 1,320 5/17/2010 Lazard Fréres & Co. LLC Transaction Structuring Services Financial Agent 14,222,312 14,222,312 6/24/2010 Reed Elsevier PLC (dba LexisNexis) Accurint subscription service for one year — 4 users Contract 8,208 8,208 6/30/2010 The George Washington University Financial Institution Management & Modeling — Training course (J.Talley) Contract 5,000 5,000 7/21/2010 Navigant Consulting, Inc. Program Compliance Support Services Contract 7,813,240 4,080,251 7/21/2010 Regis & Associates, PC Program Compliance Support Services Contract 1,933,726 1,217,418 7/22/2010 Ernst & Young LLP Program Compliance Support Services Contract 9,992,449 8,115,628 7/22/2010 PricewaterhouseCoopers LLP Program Compliance Support Services Contract — — 7/22/2010 Schiff Hardin LLP Housing Legal Services Contract 97,526 97,526 7/27/2010 West Publishing Corporation Subscription Service for 4 users Contract 6,664 6,664 Continued on next page 505 OFS SERVICE CONTRACTS I APPENDIX F I APRIL 27, 2016 OFS SERVICE CONTRACTS (CONTINUED) Date Vendor Purpose 8/6/2010 Alston & Bird LLP Omnibus procurement for legal services 8/6/2010 Cadwalader Wickersham & Taft LLP 8/6/2010 Type of Transaction Obligated Value Expended Value Contract $232,482 $232,482 Omnibus procurement for legal services Contract 7,124,142 4,163,835 Fox, Swibel, Levin & Carroll, LLP Omnibus procurement for legal services Contract 150,412 150,412 8/6/2010 Haynes and Boone LLP Omnibus procurement for legal services Contract 450,000 40,479 8/6/2010 Hughes Hubbard & Reed LLP Omnibus procurement for legal services Contract 3,196,109 1,458,559 8/6/2010 Love and Long, LLP Omnibus procurement for legal services Contract — — 8/6/2010 Orrick, Herrington & Sutcliffe LLP Omnibus procurement for legal services Contract — — 8/6/2010 Paul, Weiss, Rifkind, Wharton & Garrison LLP Omnibus procurement for legal services Contract 12,203,029 7,464,047 8/6/2010 Perkins Coie LLP Omnibus procurement for legal services Contract — — 8/6/2010 Seyfarth Shaw LLP Omnibus procurement for legal services Contract — — 8/6/2010 Shulman, Rogers, Gandal, Pordy & Ecker, PA Omnibus procurement for legal services Contract 213,347 213,347 8/6/2010 Sullivan Cove Reign Enterprises Jv Omnibus procurement for legal services Contract 50,000 50,000 8/6/2010 Venable LLP Omnibus procurement for legal services Contract 1,150 960 8/12/2010 Knowledge Mosaic Inc. SEC filings subscription service Contract 5,000 5,000 8/30/2010 Department of Housing and Urban Development Detailees Interagency Agreement — — 9/1/2010 CQ-Roll Call Inc. One-year subscription (3 users) to the CQ Today Breaking News & Schedules, CQ Congressional & Financial Transcripts, CQ Custom Email Alerts Contract 7,500 7,500 9/17/2010 Bingham McCutchen LLP5 SBA 7(a) Security Purchase Program Contract 11,177 11,177 9/27/2010 Davis Audrey Robinette Program Operations Support Services to include project management, scanning and document management and correspondence Contract 5,738,065 4,746,145 9/30/2010 CCH Incorporated GSA Task Order for procurement books —FAR, T&M, Government Contracts Reference, World Class Contracting Contract 2,430 2,430 10/1/2010 Financial Clerk U.S. Senate Congressional Oversight Panel Interagency Agreement 5,200,000 2,777,752 10/1/2010 Department of the Treasury Departmental Offices Administrative Services Interagency Agreement 660,601 660,601 Continued on next page 506 APPENDIX F I OFS SERVICE CONTRACTS I APRIL 27, 2016 OFS SERVICE CONTRACTS (CONTINUED) Date Vendor Purpose Type of Transaction 10/8/2010 Management Concepts, Inc. Training Course — 11107705 Contract $995 $995 10/8/2010 Management Concepts, Inc. Training Course — CON 217 Contract 1,025 1,025 10/8/2010 Management Concepts, Inc. Training Course — CON 216 Contract 1,025 1,025 10/8/2010 Management Concepts, Inc. Training Course — CON 217 Contract 1,025 1,025 10/8/2010 Management Concepts, Inc. Training Course — Analytic Boot Contract 1,500 1,500 10/8/2010 Management Concepts, Inc. Training Course — CON 218 Contract 2,214 2,214 10/8/2010 Management Concepts, Inc. Training Course — CON 218 Contract 2,214 2,214 10/8/2010 Management Concepts, Inc. Training Course — CON 218 Contract 2,214 2,214 10/14/2010 Hispanic Association Of Coll & Univ Ratification - Internship program for Aug – Dec 2009 Contract 12,975 12,975 10/26/2010 Government Accountability Office IAA — GAO required by P.L. 110343 to conduct certain activities related to TARP Interagency Agreement 5,600,000 3,738,195 11/8/2010 The MITRE Corporation FNMA IR2 assessment — OFS task order on Treasury MITRE Contract for cost and data validation services related to HAMP FA Contract 2,288,166 1,850,677 11/18/2010 Greenhill & Co., LLC Structuring and Disposition Services Financial Agent 6,139,167 6,139,167 12/2/2010 Addx Corporation Acquisition Support Services — PSD TARP (action is an order against BPA) Contract 1,299,002 1,299,002 12/29/2010 Reed Elsevier PLC (dba LexisNexis) Accurint subscription services one user Contract 684 684 1/5/2011 Canon U.S.A. Inc. Administrative Support Interagency Agreement 12,013 12,013 1/18/2011 Perella Weinberg Partners & Co. Structuring and Disposition Services Financial Agent 5,542,473 5,542,473 1/24/2011 Department of the Treasury ARC Administrative Support Interagency Agreement 1,090,860 1,090,860 1/26/2011 Association of Govt Accountants CEAR Program Application Contract 5,000 5,000 2/24/2011 ESI International Inc. Mentor Program Training (call against IRS BPA) Contract 6,563 6,563 2/28/2011 Department of the Treasury Departmental Offices Administrative Services Interagency Agreement 13,523,880 13,001,815 3/3/2011 Equilar, Inc. Executive Compensation Data Subscription Contract 59,995 59,995 3/10/2011 The Mercer Group, Inc. Executive Compensation Data Subscription Contract 3,600 3,600 3/22/2011 Harrison Scott Publications, Inc. Subscription Service Contract 5,894 5,894 4/20/2011 Federal Reserve Bank of New York FRBNY monitoring and reporting on financial conditions of AIG Interagency Agreement 1,300,000 1,004,063 4/26/2011 PricewaterhouseCoopers LLP Financial Services Omnibus Contract 5,804,710 4,863,595 4/27/2011 ASR Analytics LLC Financial Services Omnibus Contract 9,505,231 4,721,493 Obligated Value Expended Value Continued on next page 507 OFS SERVICE CONTRACTS I APPENDIX F I APRIL 27, 2016 OFS SERVICE CONTRACTS (CONTINUED) Date Vendor Purpose Type of Transaction 4/27/2011 Ernst & Young LLP Financial Services Omnibus Contract $697,189 $684,001 4/27/2011 FI Consulting Inc. Financial Services Omnibus Contract 5,833,209 5,130,206 4/27/2011 Lani Eko & Company, CPAs, LLC Financial Services Omnibus Contract 50,000 — 4/27/2011 MorganFranklin Consulting, LLC Financial Services Omnibus Contract 1,772,714 837,540 4/27/2011 Oculus Group LLC Financial Services Omnibus Contract 4,587,723 3,346,406 4/28/2011 Booz Allen Hamilton Inc. Financial Services Omnibus Contract 2,460,434 1,685,869 4/28/2011 KPMG LLP Financial Services Omnibus Contract 50,000 — 4/28/2011 Office of Personnel Management (OPM) - Western Management Development Center Frontline Leadership Training for OFS Managers Interagency Agreement 21,300 — 5/31/2011 Reed Elsevier PLC (dba LexisNexis) Accurint subscriptions by LexisNexis for 5 users Contract 10,260 10,260 5/31/2011 West Publishing Corporation Five (5) user subscriptions to CLEAR by West Government Solutions Contract 7,515 7,515 6/2/2011 ESI International Inc. Project Leadership, Management and Communications Workshop Contract 14,195 14,195 6/9/2011 CQ-Roll Call Inc. One year subscription to the CQ Today Breaking News & Schedules, CQ Congressional & Financial Transcripts, CQ Custom Email Alerts Contract 7,750 7,750 6/17/2011 The Winvale Group, LLC Anti-Fraud Protection and Monitoring Subscription Services Contract 711,698 708,273 7/28/2011 Internal Revenue Service (IRS) Detailee Interagency Agreement 84,234 84,234 9/9/2011 Financial Management Service NAFEO Internship Program Interagency Agreement 22,755 22,755 9/12/2011 ADC LTD NM MHA Felony Certification Background Checks (BPA) Contract 339,489 339,489 9/15/2011 All Business Machines, Inc. 4 Level 4 Security Shredders and Supplies Contract 4,392 4,392 9/29/2011 Department of the Interior Administrative Services Interagency Agreement 78,000 78,000 9/29/2011 Knowledge Mosaic Inc. Renewing TD010-F-249 SEC filings Subscription Service Contract 4,200 4,200 10/4/2011 Internal Revenue Service (IRS) Detailees Interagency Agreement 168,578 84,289 10/20/2011 All Business Machines, Inc. 4 Level 4 Security Shredders and Supplies Contract 4,827 4,827 11/18/2011 QualX Corporation FOIA Support Services Contract 68,006 68,006 16,250,000 15,400,000 19,065 19,065 11/29/2011 Houlihan Lokey, Inc. Transaction Structuring Services Financial Agent 12/20/2011 The Allison Group, LLC Pre-Program and Discovery Process Team Building Contract Obligated Value Expended Value Continued on next page 508 APPENDIX F I OFS SERVICE CONTRACTS I APRIL 27, 2016 OFS SERVICE CONTRACTS (CONTINUED) Date Vendor Purpose 12/30/2011 Department of the Treasury ARC Administrative Support 12/30/2011 Department of the Treasury Departmental Offices 1/4/2012 Type of Transaction Obligated Value Expended Value Interagency Agreement $901,433 $899,268 Administrative Services Interagency Agreement 15,098,746 10,127,276 Government Accountability Office IAA —GAO required by P.L. 110343 to conduct certain activities related to TARP IAA Interagency Agreement 2,500,000 2,475,937 1/5/2012 Office of Personnel Management (OPM) - Western Management Development Center Frontline Leadership Training for OFS Managers (7/25/117/29/11) Interagency Agreement 31,088 — 2/2/2012 Moody’s Analytics, Inc. ABS/MBS Data Subscription Services Contract 2,575,713 2,575,712 2/7/2012 Greenhill & Co., LLC Structuring and Disposition Services Financial Agent 1,680,000 1,680,000 2/14/2012 Association of Govt Accountants CEAR Program Application Contract 5,000 5,000 2/27/2012 Diversified Search LLC CPP Board Placement Services Contract 296,104 296,104 3/6/2012 Integrated Federal Solutions, Inc. TARP Acquisition Support (BPA) Contract 3,551,388 3,017,667 3/14/2012 Department of the Interior Federal Consulting Group Interagency Agreement 112,500 112,500 3/30/2012 Department of the Treasury Departmental Offices - WCF Administrative Support – Shared infrastructure, financial systems, OPA and DO by all employees Interagency Agreement 1,137,451 1,137,451 3/30/2012 E-Launch Multimedia, Inc. Subscription Service Contract — — 4/2/2012 Cartridge Technologies, Inc. Maintenance Agreement for Canon ImageRunner Contract 31,383 26,153 5/10/2012 Equilar, Inc. Executive Compensation Data Subscription Contract 44,995 44,995 6/12/2012 U.S. Department of Justice Litigation support for No. 10-647 (Fed.Cl.) and No. 11-100 (Fed. Cl.) Interagency Agreement 1,737,884 285,834 6/15/2012 QualX Corporation FOIA Support Services Contract 104,112 104,112 6/30/2012 West Publishing Corporation Subscription for Anti Fraud Unit to Perform Background Research Contract 8,660 8,660 7/26/2012 Knowledge Mosaic Inc. SEC filings subscription service Contract 4,750 4,750 4,303 4,303 3,897 3,897 8/1/2012 Internal Revenue Service (IRS) COR Training Interagency Agreement 8/3/2012 Harrison Scott Publications, Inc. Subscription to Commercial Mortgage Alert Online Service Contract 9/19/2012 Department of the Treasury ARC Administrative Resource Center Services Interagency Agreement 826,803 826,803 9/28/2012 SNL Financial LC Data Subscription Services for Financial, Regulatory, and Market Data and Services Contract 180,000 180,000 11/19/2012 Government Accountability Office Oversight services Interagency Agreement 5,400,000 4,252,930 Continued on next page 509 OFS SERVICE CONTRACTS I APPENDIX F I APRIL 27, 2016 OFS SERVICE CONTRACTS (CONTINUED) Date Vendor Purpose Type of Transaction 12/13/2012 Association of Govt Accountants CEAR Program Application Contract 12/19/2012 Department of the Treasury Departmental Offices Administrative support services for FY 2013 Interagency Agreement 1/1/2013 Lazard Fréres & Co. LLC Transaction Structuring Services 1/1/2013 Lazard Fréres & Co. LLC 2/13/2013 Obligated Value Expended Value $5,000 $5,000 12,884,241 10,805,593 Financial Agent 2,708,333 2,708,333 Transaction Structuring Services Financial Agent 6,060,484 6,060,484 The Mercer Group, Inc. Executive Compensation Data Subscription Contract 4,050 4,050 3/4/2013 Department of the Treasury Departmental Offices - WCF Administrative Support Interagency Agreement 1,159,268 1,159,268 3/7/2013 Department of Housing and Urban Development Research and Analysis Services Interagency Agreement 499,348 444,381 3/26/2013 Bloomberg Finance L.P. Subscription Contract 5,400 5,400 3/27/2013 IRS - Treasury Acquisition Institute COR Training - TAI Interagency Agreement — — 5/1/2013 Internal Revenue Service (IRS) Legal Services Interagency Agreement 88,854 88,854 5/10/2013 Equilar, Inc. Executive Compensation Data Subscription Contract 45,995 45,995 6/13/2013 West Publishing Corporation Monthly subscription for 4 users Contract 25,632 25,632 8/1/2013 Evolution Management, Inc. Outplacement Services for OFS Contract 85,238 48,226 8/20/2013 Knowledge Mosaic Inc. Subscription service utilized by the Chief Counsel’s Office for OFS-related matters Contract 4,500 4,500 9/25/2013 Department of the Treasury ARC Administrative Support Interagency Agreement 644,998 644,998 9/27/2013 SNL Financial LC Financial Data Subscription Services — Information Technology Contract 662,000 662,000 11/22/2013 Department of the Treasury Departmental Offices Administrative Support Interagency Agreement 9,453,973 8,093,305 11/22/2013 Internal Revenue Service (IRS) Legal Services Interagency Agreement 107,185 107,185 11/27/2013 Department of the Treasury Departmental Offices - WCF Administrative Support Interagency Agreement 1,886,578 1,884,147 12/12/2013 Association of Govt Accountants CEAR Program Application Contract 5,000 5,000 12/18/2013 U.S. Department of Justice Litigation Services Interagency Agreement 2,918,000 8,546 3/5/2014 U.S. Department of Justice Litigation Services Interagency Agreement 2,000,000 1,751,032 3/12/2014 Department of the Treasury Departmental Offices Administrative Support Interagency Agreement 2,705,893 2,513,232 3/24/2014 The Mercer Group, Inc. On-line Subscription Service Executive Compensation Data Contract 4,472 — Continued on next page 510 APPENDIX F I OFS SERVICE CONTRACTS I APRIL 27, 2016 OFS SERVICE CONTRACTS (CONTINUED) Date Vendor Purpose 4/14/2014 Bloomberg Finance L.P. Online Data Repository for AntiFraud Unit 6/13/2014 The Winvale Group, LLC 10/1/2014 Internal Revenue Service Office of Procurement 10/29/2014 Type of Transaction Obligated Value Expended Value Contract $5,700 $5,700 Administrative Support Contract 362,781 292,355 Administrative Support Interagency Agreement 142,262 142,262 Department of the Treasury Departmental Offices Administrative Support Interagency Agreement 2,242,083 2,242,083 11/6/2014 Department of the Treasury Departmental Offices Administrative Support Interagency Agreement 1,498,458 1,351,638 11/7/2014 Department of the Treasury ARC Administrative Support Interagency Agreement 641,859 641,859 11/17/2014 Department of the Treasury Departmental Offices Administrative Support Interagency Agreement 7,895,697 6,350,631 11/25/2014 Government Accountability Office Administrative Support Interagency Agreement 1,112,488 771,488 1/26/2015 Department of the Interior Administrative Support Interagency Agreement 25,000 25,000 4/2/2015 Integrated Federal Solutions, Inc. Administrative Support Contract 2,536,875 1,353,995 9/17/2015 Department of the Treasury ARC Support services for compliance with DO and other federal requirements Interagency Agreement 547,114 273,557 10/1/2015 Government Accountability Office IAA — GAO required by P.L. 110343 to conduct certain activities related to TARP Interagency Agreement 1,112,488 240,491 10/1/2015 Government Accountability Office IAA — GAO required by P.L. 110343 to conduct certain activities related to TARP Interagency Agreement 600,000 351,042 11/2/2015 Department of the Treasury Departmental Offices Administrative Support Interagency Agreement 1,939,620 962,678 11/23/2015 Department of the Treasury Departmental Offices Administrative Support Interagency Agreement 8,054,733 2,308,941 1/12/2016 Hughes Hubbard & Reed LLP Omnibus procurement for legal services Contract 23,093 — 1/14/2016 Cadwalader Wickersham & Taft LLP Omnibus procurement for legal services Contract 637,314 45,848 1/20/2016 Department of the Interior Administrative Services IAA 25,000 — Hewlett-Packard (HP) Support Services for the Transaction Processing System and the Accounting Sub-Ledger for OFS Contract 1,255,753 — $1,684,770,563 $1,517,830,413 3/18/2016 Total Notes: Numbers may not total due to rounding. Appendix F includes all vendor contracts administered under Federal Acquisition Regulations, interagency agreements, and financial agency agreements entered into in support of OFS since the beginning of the program. The table does not include salary, benefits, travel, and other non-contract related expenses. For some contracts, 0 is obligated if no task orders have been awarded and so those contracts are not reflected in this table. 1 EnnisKnupp Contract TOFS-10-D-0004, was novated to Hewitt EnnisKnupp (TOFS-10-D-0004). 2 Awarded by other agencies on behalf of OFS and are not administered by PSD. 3 Awarded by other branches within the PSD pursuant to a common Treasury service level and subject to a reimbursable agreement with OFS. 4 Thacher Proffitt & Wood, Contract TOS09-014B, was novated to Sonnenschein Nath & Rosenthal (TOS09-014C). 5 McKee Nelson Contract, TOFS-09-D-0005, was novated to Bingham McCutchen. Source: Treasury, response to SIGTARP data call, 4/15/2016. Criminal Law Enforcement Agency Prevent Fraud, Waste, And Abuse Improve $38 Billion in Programs SIGTARP OFFICE OF THE SPECIAL INSPECTOR GENERAL FOR THE TROUBLED ASSET RELIEF PROGRAM
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