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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 DA OG RA TRO M L SP E SIGTARP’S IMPACT S S E T R E LI E F P R Defendants Already Convicted Defendants Already Criminally Charged Y ILT GU Y ILT GU Y ILT GU Y ILT GU Y ILT GU Y ILT GU 357 TY UIL G TY UIL G TY UIL G TY UIL G Y ILT GU TY UIL G TY UIL G TY UIL G Y ILT GU Criminal Charges are Not Evidence of Guilt Y ILT GU Y ILT GU Y ILT GU Y ILT GU Y ILT GU Y ILT GU TY UIL G TY UIL G TY UIL G TY UIL G Y ILT GU TY UIL G TY UIL G TY UIL G 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 Y ILT GU Y ILT Y ILT GU Y ILT GU Y ILT TY UIL GU G Y ILT GU Y ILT GU Y ILT GU Y ILT GU GU Y ILT GU Y ILT GU Y ILT 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 250 TY UIL G TY UIL G TY UIL G TY UIL G Y ILT GU TY UIL G TY UIL G TY UIL G Y ILT GU TY UIL G TY UIL G TY UIL G TY UIL G Y ILT GU TY UIL G TY UIL G TY UIL G TY UIL G TY UIL G Y ILT GU G TY UIL G Y ILT GU G TY UIL G TY UIL G TY UIL G Y ILT GU Y ILT TY UIL G GU TY UIL TY UIL TY UIL G TY UIL G Y ILT GU TY UIL G TY UIL G TY UIL G Y ILT GU TY UIL G TY UIL G TY UIL G TY UIL G Y ILT GU TY UIL G TY UIL G TY UIL G Y ILT GU Y ILT GU Y ILT GU Y ILT GU Y ILT GU Y ILT GU Y ILT GU Defendants Already Sentenced to Prison Y ILT GU Y ILT GU Y ILT GU Y ILT GU Y ILT GU Y ILT GU TY UIL GU TY UIL 148 GU TY UIL GU G G G TY UIL G Y ILT GU Y ILT Y ILT Y ILT TY UIL G Y ILT GU Y ILT TY UIL GU TY UIL GU G G TY UIL G Y ILT GU Others Await Trial Y ILT TY UIL G Y ILT GU Others Await Sentencing DOJ Criminal Conduct – DPA/NPA or Complaint Bank of America Goldman Sachs Jefferies SunTrust Wilmington Trust Bank 220 Recommendations to Improve TARP General Motors JPMorgan Chase Morgan Stanley Fifth Third Bank OneFinancial Corporation Imperial Holdings $10.29 Billion Recovered for taxpayers Results of SIGTARP’s work as of 7/13/16 Message from the Special Inspector General for the Troubled Asset Relief Program (“SIGTARP”) Created to protect federal bailout dollars, SIGTARP’s law enforcement is having far greater impact than envisioned. SIGTARP pioneered a new wave of bank fraud investigations that has led to DOJ prosecutions for crimes far more dangerous than stealing TARP funds or banker kickbacks/self-dealing. SIGTARP found bankers committing bank fraud and securities fraud by hiding and lying about past-due loans to avoid charge offs that impact razor thin capital or profit margins. These bankers’ crimes likely went undetected by bank regulators and law enforcement largely because they were not self-reported. Each of the SIGTARP bank investigations (and corresponding DOJ prosecution) contributes to changing the landscape of law enforcement of bank officials now and for the future. TARP is a product of Wall Street institutions that failed or almost failed after not maintaining sufficient capital to protect against risky derivatives. SIGTARP has found banks whose insiders hid insufficient capital from bad loans through fraudulent transactions. Some insiders threw new money at bad loans. Capital is eventually eviscerated in these crimes. SIGTARP investigations and prosecutions of crime in regional and community banks matter because this type of bank fraud is dangerous. The bank fraud SIGTARP is finding causes startling and severe harm to individual victims, and local and regional communities. If the bank failed, hardworking Americans and local businesses lost a lending source. Near failures, takeovers, or other weakened positions can also drain the bank’s ability to lend. Combined, these forces pose a risk to the national economy, particularly to small businesses, which impact jobs. The bank fraud harms our country’s already-low confidence in banks. Preventing bank failures or near-bank failures by catching, investigating and deterring this new type of bank fraud is a worthy cause for SIGTARP. Pioneering a new wave of criminal investigations into bank fraud is no easy task and takes time, but is worth pursuing. Already, 58 bankers investigated by SIGTARP have been convicted—35 of them have gone to prison (13 await sentencing). With 80 bankers we investigated charged with a crime, we anticipate additional convictions. The impact of SIGTARP enforcing the law for this new wave of bank fraud will carry beyond any one investigation or prosecution. Our investigations prevent history from repeating itself as bankers who broke the law are convicted. SIGTARP’s cases are necessary for our banks to recover into a stronger banking system and for the American people to have confidence in banks and the justice system. Section 3 reports how low performing state agencies in the Hardest Hit Fund harm homeowners’ fair access to the program. Sections 1 and 2 discuss the vulnerability of the Blight Elimination Program to bid rigging, fraud, and overcharging. I would be happy 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’s Impact Section 2 SIGTARP RECOMMENDATIONS Treasury Should Require Full and Open Competition for Blight Elimination Federal Dollars Treasury Should Establish Federal Requirements to Use Competitive Procedures When Soliciting Contracts Under the Blight Elimination Program Treasury Should Establish Federal Competition Requirements to Award Contracts Under the Blight Elimination Program Treasury Should Limit Costs to Only Necessary and Reasonable Demolition Costs Treasury and State Agencies Should Not Rely on the Judgment of Those Receiving Federal Funds to Determine What Costs Are Necessary and Reasonable, But Instead Do More to Establish Necessary and Reasonable Demolition Costs 11 13 51 53 54 55 56 56 Section 3 THE PRESENT & CRITICAL NEED FOR FAIR ACCESS TO HARDEST HIT FUNDS BY HOMEOWNERS IN PARTS OF THE COUNTRY STRUGGLING TO JOIN OUR NATION’S RECOVERY BUT WHOSE STATE AGENCIES ARE LOW PERFORMERS Introduction The Last Two Years Have Shown Essentially No Progress In Increasing the Low Nationwide Rate of Applying Homeowners Who Receive Hardest Hit Fund Assistance Because of Low Performing State Agencies That Drive Down The Nationwide Rate Lengthy Delays In Processing Homeowner Applications to the Hardest Hit Fund Continue to Stand as a Formidable Obstacle to Fair Access to These Funds and Can Lead to Withdrawn Homeowner Applications Eleven Members of Congress See a Present Need for the Hardest Hit Fund for Homeowners In Their Districts, and Public Data Supports that Present Need, While State Agencies Continue to Have Low Performance In HHF A Way Forward 83 85 87 91 95 103 Section 4 TARP OVERVIEW Housing 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 Section 5 TARP OPERATIONS AND ADMINISTRATION TARP Administrative and Program Operating Expenditures Financial Agents 107 116 145 150 223 243 245 247 249 250 Endnotes 251 APPENDICES A. Glossary 263 B. Acronyms and Abbreviations 265 C. Transactions Detail 267 D. MHA Supplemental Data 470 E. CPP Supplemental Data 480 F. OFS Service Contracts 531 EXECUTIVE SUMMARY 4 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Created to protect federal bailout dollars during the crisis, SIGTARP’s law enforcement is having far greater impact than envisioned. SIGTARP pioneered a new wave of bank fraud investigations that has led to Department of Justice prosecutions for crimes far more dangerous than stealing TARP funds or traditionally-prosecuted banker kickbacks/self-dealing. SIGTARP found bankers committing bank fraud and securities fraud by hiding and lying about past-due loans to avoid charge offs that impact razor thin capital or profit margins. These bankers’ crimes likely went undetected by bank regulators and law enforcement largely because they were, unsurprisingly, not self-reported.i This criminal fraud must be caught and stopped because of its impact on banks, local businesses, and local and regional economies. The national economy can even be at risk. Each of the SIGTARP bank investigations (along with the corresponding DOJ prosecutions) contributes to changing the landscape of law enforcement of bank officials now and for the future. TARP is a product of Wall Street institutions that failed or almost failed after not maintaining sufficient capital to protect against risky derivative securities. SIGTARP has found depository banks whose insiders hid the bank’s insufficient capital levels from bad loans through crime. These insiders often increased the bank’s exposure by throwing new money at those bad loans in fraudulent transactions. The impact of these crimes is that capital is eventually eviscerated. If the bank failed, there are victims, including hardworking Americans and local businesses that lost an important source of lending. Near failures, takeovers, or other weakened financial positions can also drain the bank’s ability to lend. SIGTARP investigations and prosecutions of crime in regional and community banks matter because this type of bank fraud is dangerous to individual victims. The bank fraud SIGTARP has found harms the communities these banks serve. The bank fraud SIGTARP has found harms taxpayers who lost bailout dollars when the bank failed. The bank fraud SIGTARP has found harms our country’s confidence in banks. And combined, these forces can pose a risk to the national economy. Bank fraud found by SIGTARP in regional and community banks harms public confidence in banks Bank fraud by insiders to hide a bank’s weakening or failing financial condition contributes to a loss of confidence in that bank, and the combination of these crimes impacts public confidence in all banks. Our nation is already suffering from a lack of confidence in banks since the crisis. Only 27 percent of the American public has a “great deal” or “quite a lot” of confidence in banks, according to Gallup – a 45 percent decrease since 2006.ii Crime in a bank further erodes already low levels of public confidence in banks. Comptroller of the Currency Thomas Curry spoke about law enforcement in a 2014 speech saying, “The banking system i Law enforcement initiation of a bank fraud case can often start with a Suspicious Activity Report, a bank self-reporting requirement developed after the Savings and Loan crisis. While banks may report a bank official engaged in self-dealing such as receiving kickbacks, it is not surprising that bank officials do not self-report on the type of crimes SIGTARP has uncovered – crimes typically orchestrated by the bank’s top officers. ii www.gallup.com/poll/1597/confidence-institutions.aspx 5 6 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM runs on confidence, but the trust an organization spends a generation building can evaporate almost overnight when it loses sight of the values on which its business was built. As a regulator, I worry as much about the loss of trust and confidence in the system as I do about liquidity, capital, and underwriting practices.” As the top regulator over most of the banks in the nation, Mr. Curry’s fear about the evaporation of trust and confidence in a bank evidences the danger of crime in a bank of any size. Banks themselves have a role in rebuilding public confidence, and bankers’ compliance with the law fosters confidence in banks. Federal Reserve Bank of New York President William Dudley said, “Financial firms exist, in part, to benefit the public, not simply their shareholders, employees and corporate clients. Unless the financial industry can rebuild the public trust, it cannot effectively perform its essential functions. For this reason alone, the industry must do better.” At SIGTARP, we know that an additional way to regain public confidence is to earn it by bringing accountability. A sustained recovery from the crisis requires not only restoring and maintaining confidence of the American people in banks, but also in our justice system. Bank fraud found by SIGTARP in regional and community banks harms individual victims, including hardworking members of the community, local businesses, investors and taxpayers One of SIGTARP’s key responsibilities is to locate victims of bank fraud we investigate. Sometimes these victims submit testimony at trial or at sentencing hearings. In every one of SIGTARP’s investigations that found crime at a bank that later failed, the FDIC suffers losses, employees lost their jobs, shareholders lost their investments, and if the bank received TARP, taxpayers who funded the bank bailout lost millions or even billions of dollars. The harm caused by bank fraud can be startling and severe. Other victims are often local businesses who have been unable to receive lending they need to run their business. Hardworking members of the community become victims when they are unable to obtain a loan to buy or refinance a house, to buy a car, or to pay for their children’s education. Bank fraud found by SIGTARP in regional and community banks harms local and regional communities Trust in a bank can be broken when top bankers violate the law, making local businesses – particularly small businesses – less likely to seek loans from the bank, businesses that may not have a relationship with another bank. Former Federal Reserve Board Governor Elizabeth Duke testified in 2010, “Small business lending is often based on relationships that are solidified over time, and when those existing relationships are broken, small businesses find it quite difficult to establish similar arrangements with a new bank.” Broken relationships between small businesses and their bank have an impact on local economies as it takes time for the small businesses to establish new banking relationships. SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Unlike bank fraud involving kickbacks or self-dealing, the bank fraud SIGTARP is finding causes bank losses, which in turn, reduce capital, which decreases a bank’s ability to lend, impacting the local and regional economy. Then Federal Reserve Board Chairman Ben Bernanke explained in 2012 how community banks impact local economies, saying: Community banks have a critical role in keeping their local economies vibrant and growing by lending to creditworthy borrowers in their regions. They often respond with greater agility to lending requests than their national competitors because of their detailed knowledge of the needs of their customers and their close ties to the communities they serve. Such lending helps foster the economy by allowing businesses to buy new equipment, add workers, or sign contracts for increased trade or services. When a community bank’s or regional bank’s ability to lend is harmed by this kind of bank fraud, local economies suffer. The American Bankers Association submitted testimony to Congress that, “The success of many local economies— and by extension, the success of the broader national economy – depends in large part on the success of community banks.”iii This type of bank fraud can have even more of an impact if it occurs in banks in small towns and rural communities. Then FDIC Chairman Sheila Bair said in a 2008 speech that the importance of community banks “is especially evident in small towns and rural communities.” She explained, “In these markets, the local bank is often the essential provider of banking services and credit.” Unlike banker kickbacks, the new wave of bank fraud found by SIGTARP leads to less available credit for small businesses that could lead to the shuttering of businesses. The Congressional Oversight Panel found in 2011 that, “Unable to fund credit, many small businesses have had to shut their doors, and some of the survivors are still struggling to find adequate financing.” If the fraud contributes to a bank failure, there can be devastating consequences on local and regional economies. Former Federal Reserve Board Chairman Ben Bernanke said in a 2012 speech, “Clusters of small bank failures can affect credit availability in a community while bank-dependent borrowers work to establish new relationships with surviving institutions.” The year before, he explained in a speech that, “Community bankers live and work where they do business, and their institutions have deep roots, sometimes established over generations. They know their customers and the local economy. Relationship banking is therefore at the core of community banking.” Not many customers would want to trust their money to a banker who has been indicted for cooking the bank’s books. iii Testimony of William B. Grant, American Bankers Association, to the House of Representatives Committee on Financial Services and the Committee on Small Businesses. 7 8 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Bank fraud found by SIGTARP in regional and community banks can pose a risk to the national economy The devastating consequences from insider crime at regional banks and community banks can reach the national economy. Chairman Bernanke in talking about the effects of lending by community banks stated, “Those effects are felt at a local level and may appear at first glance to be fairly modest, but when you multiple these effects across the thousands of community banks in the United States, you really see how the lending decisions they make help the broader national economy.” President of the Federal Reserve Bank of Kansas City Esther George said in a 2014 speech, “Size comparisons understate their [community banks] importance to the regional and national economy.” The impact of the type of bank fraud found by SIGTARP is particularly felt by local small businesses—businesses that typically get their financing from regional and community banks. This nation’s economy relies on small businesses. Former Federal Reserve Board Governor Randall Kroszner said in a 2008 speech, “Small businesses are critical to the health of the U.S. economy.…If small businesses are to continue to provide major benefits to the economy, their access to credit is clearly a high priority.” According to the Small Business Administration, the 28 million small businesses in America account for 54% of all U.S. sales. FDIC Chairman Martin Gruenberg testified before the Senate Committee on Banking in 2011 that “community banks account for about 11 percent of the banking assets in the United States, but account for nearly 40 percent of the small business lending done by all insured institutions in the U.S. So they really occupy a very important niche in our financial system.” When small businesses are hurt, jobs are hurt. That can impact the national economy. According to the Small Business Administration, since the 1970s, small business have provided 55% of all jobs. Former FDIC Chairman Bair said in a 2010 speech, “Small businesses create two thirds or more of all new net jobs. And they overwhelmingly rely on credit provided by community banks.” The crime SIGTARP is finding in banks impacts capital and therefore drains vital credit availability, which can have a devastating impact on small businesses, and ultimately, jobs. The bank fraud SIGTARP finds is particularly dangerous to the national economy if it contributes to a bank failing or being near failure. Former FDIC Chairman Sheila Bair said in 2009, “In the near term, bank failures can be painful.” Chairman Bair said that a bank that is teetering on collapse is not going to lend, “and that’s not good for the economy.” Our nation has already suffered from a wave of bank failures. Preventing further bank failures or near-bank failures by catching, investigating, and deterring this new type of bank fraud is a worthy cause SIGTARP is committed to uphold. SIGTARP’s pioneering a new wave of bank fraud cases Pioneering a new wave of criminal investigations into bank fraud is no easy task and takes time, but is worth pursuing. Already, 58 bankers investigated by SIGTARP have been convicted—35 of them have gone to prison (13 await SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 sentencing). As a total of 80 bankers investigated by SIGTARP have been charged with a crime, we anticipate additional convictions. The impact of SIGTARP finding and enforcing the law for this new wave of bank fraud will carry beyond any one investigation or prosecution. SIGTARP investigations that lead to the prosecution of bankers who were willing to commit crime prevent history from repeating itself. Bankers who made a choice to break the law in the past, which caused significant harm, are not given another opportunity, as they are removed from banking and convicted. There is more SIGTARP must do to combat this new wave of bank fraud, and we continue to learn every day other methods that bank insiders used to conceal this fraud. We are convinced that these cases are necessary for our banks to recover into a stronger banking system and for the American people to have confidence in banks and the justice system. 9 10 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM SECT IO N 1 THE OFFICE OF THE SPECIAL INSPECTOR GENERAL FOR THE TROUBLED ASSET RELIEF PROGRAM 12 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 SIGTARP’S IMPACT The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) is a Federal law enforcement agency that targets financial institution crime and is an independent watchdog protecting taxpayer dollars. SIGTARP’s cross-cutting authority enables us to investigate and conduct oversight over all organizations and individuals involved in TARP programs. Our analytical, experienced-based approach identifies hidden complex crime and we work with the U.S. Department of Justice to hold accountable individuals and institutions that break the law. SIGTARP’s oversight prevents fraud and drives improvements in ongoing TARP programs, which last until at least 2023. SIGTARP BY THE NUMBERS 80 Bankers charged with a crime 58 Bankers convicted 35 Bankers sentenced to prison $10.29B 220 Recovered Recommendations to improve TARP 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 $10.29 billion through its investigations, including $8.2 billion that has been paid back to the Government and $2.1 billion paid to other victims. FIGURE 1.1 RECOVERED FROM DEFENDANTS INVESTIGATED BY SIGTARP (CUMULATIVE) Asset Recovery (Millions) 12,000 $10.29B 10,000 8,000 6,000 4,000 $2.57B 2,000 0 $1.468B $186M 2009-2013 +$1.283B +$1.1B 2014 +$7.72B 2015 Fiscal Year June 2016 13 14 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 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. The recoveries also include a $5.06 billion penalty paid by Goldman Sachs and a $2.6 billion penalty paid by Morgan Stanley after SIGTARP’s investigation into Goldman Sachs’ and Morgan Stanley’s toxic subprime residential mortgage-backed securities. Both investigations uncovered that Goldman Sachs and Morgan Stanley mislead investors about the subprime mortgage loans underlying the securities that they sold. 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. SIGTARP anticipates even more financial recovery for the Government and victims. SIGTARP’s investigations have resulted in court orders and government agreements for a total of approximately $16.4 billion to be returned to the Government or other victims. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 1.2 SIGTARP’S ESCALATED EFFORTS INCREASED MONEY ORDERED/AGREED TO BE PAID (CUMULATIVE) Asset Recovery (Millions) 20,000 $16.4B 15,000 10,000 $8.59B $7.38B 5,000 $4.68B +$2.7B 0 2009-2013 +$1.2B 2014 +$7.81B 2015 June 2016 Fiscal Year Having already assisted in the recovery of $10.29 billion of these funds, we will continue to pursue the rest of the $16.4 billion. Property already seized or ordered to be forfeited includes dozens of vehicles, more than 30 properties (including businesses and waterfront homes), more than 70 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 171 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. 15 16 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 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) 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) QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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. 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. 17 18 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM SIGTARP’s Investigative and Audit Work Results in Cost Savings to the Government SIGTARP’s work results in cost savings of about $2.1 billion, if Treasury adopts SIGTARP’s recommendations. 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, 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. By SIGTARP’s estimate, taxpayers funding TARP have directly lost about $2.1 billion due to Treasury’s failure to implement SIGTARP recommendations. In addition, unimplemented recommendations could have indirectly led to greater efficiency and effectiveness and made the TARP programs far less susceptible to losses attributable to fraud, waste, and abuse. However, SIGTARP has not quantified the indirect cost savings associated with all recommendations. Treasury’s failure to implement some SIGTARP’s recommendations has had an adverse impact on TARP that can be quantified. For example, Treasury has still not fully implemented most of SIGTARP’s recommendations to curb homeowners falling out of HAMP, sometimes not at the homeowner’s fault, but instead the fault of servicers. Taxpayers have lost about $2.1 billion in TARP funds paid to servicers and investors as incentives for 284,094 homeowners who re-defaulted out of HAMP Tier 1. Additionally, as outlined in SIGTARP’s December 14, 2015 Alert Letter to Secretary Lew, SIGTARP recommended that Treasury claw back $246,490 in TARP funds that were used in an abuse of the Hardest Hit Fund (HHF). These HHF monies funded the demolition of 18 lived-in residencies under HHF’s Blight Elimination Program in the Area 55 neighborhood of Evansville, Indiana for the purpose of moving a car dealership. That TARP program only allowed for the demolition of vacant abandoned properties, and was not intended to force vacancies by evicting people from their homes. Upon SIGTARP recommendations, Treasury told state agencies in HHF not to use the program to demolish lived-in residences. However, Treasury did not claw back the money as SIGTARP recommended, despite it being disallowed under Treasury’s contract. SIGTARP released two audit reports (April 14, 2011 and September 28, 2011) questioning the allowability of $8.657 million in ineligible and unsupported attorney fees and expenses that were not allowed under the contract. The recommendations made in those audits remain unimplemented. 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. SIGTARP partners with other agencies in order to leverage resources. SIGTARP works hard to deliver the accountability the American people demand and deserve. QUARTERLY REPORT TO CONGRESS I JULY 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 eight 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, 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 80 bank officials who have been charged by prosecutors with a crime.i Already, 58 bankers 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 an allegation that a defendant committed a crime. Every defendant is presumed innocent until and unless proven guilty in court. ii ank officials whose fraudulent scheme was based on using the bank as their own personal piggy bank was the subject of most law B enforcement actions arising out of the Savings & Loan crisis. 19 20 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 an increase in past-due loans, a decline in the value of 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. As SIGTARP holds institutions and their officials accountable for crime and civil fraud related to the financial crisis and TARP, we will investigate to the highest levels of an organization. We face the challenge of proving that CEOs and other top officials at large national institutions had knowledge of the facts. Where SIGTARP can prove the elements of a crime, we will refer it for prosecution every time. Often by design, large national institutions are typically structured to stop knowledge from rising to CEOs and other top officials. SIGTARP works with prosecution teams to look for the evidence that the prosecutors believe is sufficient to bring criminal charges. A lack of evidence sufficient for criminal charges will not stop SIGTARP from seeking enforcement outside of criminal violations. Law Enforcement Actions Against Bankers The world of banking will be changed by SIGTARP’s work resulting in criminal charges against 80 bankers and nearly 73 of their co-conspirators. It is a safer world where bank officers who commit crime to hide past due or defaulted loans are convicted and removed from the banking industry. Additionally, many of the bankers investigated by SIGTARP have been charged with civil fraud. This includes, for example, the former CEO of Bank of iii rosecutors can charge these bank officials with a number of criminal charges that apply, for example, bank fraud, wire fraud, P securities fraud, falsifying entries in bank books, false statements to bank examiners, and false certification of bank records. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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. FIGURE 1.4 INCREASE IN BANKERS INVESTIGATED BY SIGTARP WHO WERE CHARGED WITH A CRIME (CUMULATIVE) 80 80 75 70 60 58 50 40 40 30 28 19 20 10 0 1 +2 2009 3 +16 2010 +9 2011 +12 2012 +18 2013 +17 2014 +5 2015 June 2016 FISCAL YEAR FIGURE 1.5 INCREASE IN BANKERS INVESTIGATED BY SIGTARP WHO WERE CONVICTED OF A CRIME (CUMULATIVE) 60 58 55 50 41 40 30 27 19 20 9 10 0 0 2009 +2 2 2010 +7 +10 2011 +8 2012 +14 2013 FISCAL YEAR +14 2014 +3 2015 June 2016 21 22 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 1.6 INCREASE IN BANKERS INVESTIGATED BY SIGTARP WHO WERE SENTENCED TO PRISON (CUMULATIVE) 40 35 31 30 22 20 19 10 8 6 0 0 2009 +0 0 2010 +6 +2 2011 +11 2012 +3 2013 +9 2014 +4 2015 June 2016 FISCAL YEAR Notable cases of bankers who were sentenced to prison: • United Commercial Bank: United Commercial Bank Holdings, Inc. (“UCBH”) COO and chief credit officer Ebrahim Shabudin was sentenced to 8 years and 1 month in prison following a SIGTARP investigation. Two other senior bank officers were convicted and await sentencing. UCBH was the 9th largest bank to fail since 2008 and Treasury took a nearly $300 million loss on its TARP investment in UCBH. 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. Then U.S. Attorney Melinda Haag, the prosecutor on the case, said, “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.” • Saigon National Bank: In December, 2015, SIGTARP agents, alongside other Federal law enforcement authorities, arrested 15 defendants (and charged 20 defendants across three indictments) in Operation “Phantom Bank,” a series of money laundering schemes that involved narcotics trafficking and international money laundering; some through Saigon National Bank (“SAGN”), which remains in TARP. One of the indictments—a sixteen-defendant, sweeping racketeering indictment—charged six individuals with violating the Federal Racketeer-Influenced and Corrupt Organizations Act by playing key roles in a series of schemes to launder drug proceeds that revolved around Tu Chau QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 “Bill” Lu, the former president and CEO of TARP recipient SAGN from 2009 through January 2015. Specifically, the indictment alleges that Lu used his “insider knowledge, position as an official at SAGN, and network of connections to promote and facilitate money laundering transactions involving members and associates of the enterprise.” According to the indictment, several members of the organization engaged in separate money laundering schemes, but “all working with, through, or at the instigation of defendant Lu.” Since the arrests in December 2015, the net around Lu has widened as three additional defendants were charged with money laundering. • Tifton Bank: Bank CEO Pat Hall was sentenced to 7 years in prison following a SIGTARP investigation. 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. He made false representations to an appraiser for bank collateral. Hall obtained $3.8 million in TARP bailout funds to fill holes in the bank’s books caused by his fraud, all of which was lost when the bank failed. • Colonial Bank: In the Colonial Bank/Taylor, Bean and Whitaker Mortgage Corporation LLC (“TBW”) case, former TBW chairman Lee Bentley Farkas spearheaded an undetected 10-year $2.9 billion fraud scheme that contributed to the failure of Colonial Bank, the third largest bank failure since the crisis and the sixth largest bank failure in U.S. history. This 10-year fraud was undetected until Colonial Bank applied for TARP and SIGTARP discovered the fraud. Treasury approved Colonial Bank for TARP, however, based on SIGTARP’s investigation and communications, 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. The case resulted in prison time for eight people including Farkas, who was sentenced to 30 years in prison, TBW Treasurer Desiree Brown, who was sentenced to 6 years in prison, and two officers of Colonial Bank, senior vice president Katherine Kissick, who was sentenced to 8 years in prison, and operations supervisor Theresa Kelly, who was sentenced to 3 months in 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. • Bank of the Commonwealth: CEO and Chairman Edward Woodard was sentenced to 23 years in prison, Executive Vice President Stephen Fields was sentenced to 17 years in prison, Vice President Troy Brandon Woodard was sentenced to 8 years in prison, and loan officer Jeremy Churchill was convicted and sentenced to probation for a massive bank fraud that contributed to the failure of the bank following a SIGTARP investigation. 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, 23 24 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 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. To cover up the fraud, Bank of the Commonwealth applied for $28 million in TARP funds using false books and records. • TierOne Bank: TierOne Bank CEO Gil Lundstrom was sentenced to 11 years in prison, President and COO James Laphen was sentenced to 2 years and 10 months in prison, and chief credit officer Don Langford was sentenced to 1 year and 9 months in prison following a SIGTARP investigation. TierOne Bank applied for $86 million TARP funds using false books and records. 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 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 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 close” to blowing its core capital ratio, which was at 8.51, just 0.01 over the regulator-required 8.5 ratio. TierOne was Nebraska's second largest bank with $3.7 billion in assets and was the largest bank failure in Nebraska’s history. • FirstCity Bank: Bank President Mark Conner was sentenced to 12 years in prison, Vice President and Senior Loan Officer Clayton Coe was sentenced to 7 years and 3 months in prison, and attorney Robert Maloney was sentenced QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 to 3 years and 3 months in prison following a SIGTARP investigation. FirstCity Bank applied for TARP with false books and records. 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 by Conner or his coconspirators. 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. In addition to those bankers sentenced above, SIGTARP’s investigations have led to numerous sentences for criminal conduct by bankers at other financial institutions. Below are just a few examples of bankers that were sentenced to prison as a result of a SIGTARP investigation: • Appalachian Community Bank: Following a SIGTARP investigation, former bank vice president Adam Teague was sentenced to 5 years and 10 months in prison and former bank vice president William Beamon was sentenced to 3 years and 6 months in prison. Teague contributed to the failure of TARPapplicant Appalachian Community Bank by fraudulently masking the bank’s true financial condition while enriching himself. As a result of Teauge’s actions, Appalachian Community Bank applied for TARP using false books and records. Beamon fraudulently rented out bank-owned properties and collected rent payments for his own use, and he caused the bank to sell properties to his wife and to a shell company he controlled at severely discounted prices—prices well below what others were willing to pay. • Park Avenue Bank: Following a SIGTARP investigation, Charles Antonucci, the former president and CEO of the Park Avenue Bank was sentenced to 2 years and 6 months in prison. Antonucci was the first person convicted for trying to steal TARP bailout funds. Antonucci lied to bank examiners and took bribes from bank clients. Additionally, Antonucci and his co-conspirators orchestrated a scheme to defraud Treasury into giving the bank $11 million dollars in TARP funds by making it appear that an investor invested millions in the bank, when it was really the bank’s money. • First Community Bank: Following a SIGTARP investigation, Reginald Harper, former president and CEO of First Community Bank was sentenced to 2 years in prison and his co-conspirator, Troy Fouquet, was sentenced to 1 year and 6 months in prison. Harper and bank customer Fouquet turned to bank fraud to hide past due loans from the bank, its regulators, and the Treasury Department in the bank’s TARP application. As a result of the fraud, when applying for TARP the bank used false books and records. The application was approved, but later withdrawn by the bank. • Gateway Bank: Following a SIGTARP investigation, Poppi Metaxas, the former president and CEO of Gateway Bank was sentenced to 1 year and 6 months 25 26 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM in prison. Metaxas orchestrated an elaborate conspiracy to commit bank fraud to hide the bank’s high numbers of non-performing loans and repossessed assets during the financial crisis all while seeking TARP as a lifeline (the TARP application was later denied). As the TARP application was pending Metaxas and her coconspirators’ devised an intricate criminal scheme to sell the bank’s non-performing loans and repossessed assets, hiding from the board and the bank’s books that $3.64 million of the bank’s own money funded the 25% deposit by the buyers. In one recent case, as a result of a SIGTARP investigation, two bankers were convicted by a jury (and await sentencing) in a scheme to defraud the government. • NOVA Bank: On April 27, 2016, following a 18 day jury trial, a Federal jury returned guilty verdicts against Brian Hartline and Barry Bekkedam, the former President and Chief Executive Officer, and Chairman (respectively) of NOVA Bank in a scheme to defraud the government into giving NOVA Bank $13.5 million in TARP funds. Both defendants were found guilty of conspiracy to defraud the United States, TARP fraud, and two counts of false statements to the Federal Government. In June 2009, NOVA Bank was approved to receive $13.5 million in TARP funds on the condition that the bank raise $15 million in additional, private capital. Bekkedam and Hartline devised a scheme to make NOVA bank appear more financially sound than it was – that new money was being invested in the bank. As part of the scheme, in May 2009 the defendants arranged for NOVA Bank to loan money to a Florida businessman and for the Florida businessman to transfer the funds to NOVA’s parent company so it would appear as though the bank had new capital from an outside investor. In fact, the “new money” investment was the bank’s own money. In October and December 2009, Bekkedam and Hartline convinced two others to make similar “investments” using loans from NOVA to make NOVA appear more financially sound than it actually was. The defendants also told and directed employees to tell the U.S. Department of the Treasury that NOVA had raised new capital when it had not. The defendants concealed the true purpose of the loan to the Florida businessman and falsely stated the purposes of the other two loans. The bank ultimately did not receive TARP funds and in October, 2012, the bank failed. 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. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Law Enforcement Actions Against Financial Institutions Investment Banks related to Mortgage Backed Securities Goldman Sachs: Following SIGTARP’s investigation, in 2016 Goldman Sachs paid $5.06 billion to resolve claims by the DOJ related to Goldman Sachs’ conduct in the packaging, securitization, marketing, sale and issuance of RMBS between 2005 and 2007. Goldman Sachs paid $2.385 billion in a civil penalty and is required 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. Morgan Stanley: Following a SIGTARP investigation, in 2016, TARP recipient Morgan Stanley paid a $2.6 billion penalty to resolve claims related to its marketing, sale and issuance of RMBS as a precursor to the financial crisis. 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. Bank of America: On August 20, 2014, TARP recipient Bank of America Corporation (“BAC”), entered into an historic $16.65 billion settlement agreement with the Department of Justice, among others, to resolve civil investigations against BAC and its former and current subsidiaries, including TARP recipient Merrill Lynch and Countrywide Financial Corporation (“Countrywide”), involving: the bank’s packaging, sale, arrangement, structuring and issuance of RMBS and collateralized debt obligations; the bank’s practices concerning the underwriting and origination of risky mortgage loans; and the bank’s misrepresenting the quality of those loans to, among others, the Government-sponsored enterprises, Fannie Mae and Freddie Mac. Of the $16.65 billion settlement, $1 billion relates to the resolution of SIGTARP investigations into (and three private “whistleblower suits” filed under seal pursuant to the False Claims Act) the origination of defective residential mortgage loans by Countrywide’s Consumer Markets Division and BAC’s Retail Lending division, as well as the fraudulent sale of such loans to the GSEs. The settlement does not release individuals from civil charges, nor does it absolve BAC, its current or former subsidiaries and affiliates, or any individuals from potential criminal prosecution. BAC also must cooperate fully with investigations or prosecutions into the conduct at issue. 27 28 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Banks related to the Origination and Resale of Loans Fifth Third: Following a SIGTARP investigation, Fifth Third Bank (“FTB”) agreed to pay approximately $85 million to cover Federal losses on approximately 500 loans that defaulted and for which HUD paid insurance claims, and indemnify HUD for all losses HUD may incur on approximately 900 defective loans that have not yet defaulted. FTB Quality Control employees made false representations to HUD that residential mortgages the bank originated were of the quality required to be insured by HUD. The bank’s false representations cost HUD millions of dollars to pay insurance claims on 519 of the materially defective loans that later defaulted. FTB made a voluntary disclosure that approximately 1,400 mortgage loans that the Bank had certified as eligible for FHA insurance were materially defective and not eligible for FHA insurance, but FTB never self-reported that information to HUD, resulting in millions of dollars in HUD losses. FTB admitted and accepted responsibility for failing to self-report mortgage loans it knew to be defective, contrary to HUD requirements. FTB has also reformed its business practices and terminated the employment of responsible employees. Banks Servicing Residential Mortgages SunTrust: In July 2014, SunTrust Mortgage, Inc., a subsidiary of TARP recipient and mortgage servicer, SunTrust Banks, Inc. (collectively, “SunTrust”), entered into a non-prosecution agreement with the U.S. Attorney’s Office for the Western District of Virginia, resolving a criminal investigation, by SIGTARP and the U.S. Attorney’s Office, of SunTrust’s administration of the HAMP. SunTrust agreed to pay $320 million to resolve allegations of mail fraud, wire fraud and false statements to the U.S. Treasury in connection with its HAMP program. As detailed in the agreement, from March 2009 to at least December 2010, SunTrust misled numerous mortgage servicing customers who sought mortgage relief through HAMP. Specifically, SunTrust made material misrepresentations and omissions to borrowers in HAMP solicitations and regarding how long SunTrust would take to make a decision on whether borrowers qualified for HAMP. SunTrust also failed to process HAMP applications in a timely manner. So significant was SunTrust’s failure in this regard, that the floor of the room in which the bank dumped the voluminous unopened HAMP applications actually buckled under the packages’ sheer weight. SunTrust admitted that it did not clean up its HAMP program until its regulators and the U.S. Government, through SIGTARP and its partners, intervened through the criminal investigation. As a result of SunTrust’s significant mismanagement of HAMP, thousands of homeowners who applied for a HAMP modification with SunTrust suffered serious financial harms. In November and December 2008, SunTrust Banks, Inc., the parent company of SunTrust, received $4.85 billion in Federal taxpayer funds through TARP. The bank repaid the TARP investment in March 2011. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Law Enforcement Action Against Bankers and Banks Bank of America: In 2014, following a SIGTARP investigation, former Chairman and CEO of Bank of America Corporation, Kenneth Lewis reached a $25 million settlement and former CFO Joe Price reached a $7.5 million settlement with the New York Attorney General’s Office for actions during the bank’s merger with Merrill Lynch. Despite Bank of America top executives’ specific knowledge of mounting losses at Merrill Lynch that were forecast at more than $9 billion, the TARP recipient bank failed to disclose that information to shareholders prior to their vote on the proposed merger. It was also alleged that Lewis and Price misrepresented to shareholders the impact that the merger with Merrill would have on Bank of America’s future earnings. As part of that settlement, Lewis was barred from serving as an officer or director of a public company for a period of three years and Price was barred from serving as an office or director of a public company for a period of 1 year 6 months. One Financial: In January 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”), 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. Law Enforcement Action Against Auto Manufacturer General Motors: Following a SIGTARP investigation, in September 2015, in the United States District Court for the Southern District of New York charged General Motors Company (“GM”), a $50 billion dollar TARP recipient, with concealing a potentially deadly safety defect from its U.S. regulator, the National Highway Traffic Safety Administration, from the spring of 2012 through February 2014, and, in the process, misled consumers concerning the safety of certain of its cars. The DOJ deferred prosecution based on GM’s agreement to change their process so that this never happens again. GM paid a $900 million financial penalty and is changing its policies, practices, and procedures relating to GM’s safetyrelated public statements, sharing of engineering data, and recall processes. The defect consisted of a faulty ignition switch that could move easily out of the “Run” position into “Accessory” or “Off.” When the switch moved out of the Run position, it could disable the affected car’s frontal airbags—increasing the risk of death and serious injury in certain types of crashes in which airbags were otherwise designed to deploy. To date, GM has acknowledged a total of 15 deaths, as well as a number of serious injuries, caused by the defective switch. It is a safer world when defective parts in cars manufactured by one of the largest car companies in the world are replaced before injury or loss of life. 29 30 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM More than 300 defendants investigated by SIGTARP have been charged with crimes, 250 of whom have already been convicted, and 148 have been sentenced to prison for their crimes. As of June 30, 2016: • More than 300 (357) 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 (250) defendants that SIGTARP investigated have been convicted of TARP related crimes—almost tripling the number convicted in the past three years. • More than 100 (148) 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 148 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 additional defendants that SIGTARP investigated who have already been convicted of their crimes and await sentencing by the court. FIGURE 1.7 INCREASE IN DEFENDANTS INVESTIGATED BY SIGTARP WHO WERE CONVICTED OF A CRIME (CUMULATIVE) 250 250 228 200 176 150 128 100 88 50 0 35 2 2009 +10 12 2010 +23 +53 2011 +40 2012 +48 2013 FISCAL YEAR +52 2014 +22 2015 June 2016 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 1.8 INCREASE IN DEFENDENTS INVESTIGATED BY SIGTARP WHO WERE CHARGED WITH A CRIME (CUMULATIVE) 400 357 350 327 300 250 235 200 180 150 125 100 71 50 0 5 +13 2009 18 +53 2010 +54 +55 2011 2012 +55 2013 +92 2014 +30 2015 June 2016 FISCAL YEAR FIGURE 1.9 INCREASE IN DEFENDANTS INVESTIGATED BY SIGTARP WHO WERE SENTENCED TO PRISON (CUMULATIVE) 148 150 140 120 94 90 76 60 35 30 0 22 1 2009 +2 3 2010 +19 +13 2011 +41 2012 +18 2013 +46 2014 +8 2015 June 2016 FISCAL YEAR The 250 convictions and 148 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. Additionally, SIGTARP’s investigations have led to DOJ criminal NonProsecution Agreements against four individuals and three companies, and DOJ criminal Deferred Prosecution Agreements against two individuals and one company. 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: 31 32 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 1.10 CRIMINAL CHARGES FROM SIGTARP INVESTIGATIONS RESULTING IN PRISON SENTENCES 1% 3% 3% 4% 1% 6% 8% 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. FIGURE 1.11 DEFENDANTS CONVICTED IN CASES FILED AS A RESULT OF SIGTARP INVESTIGATIONS, BY EMPLOYEE TYPE 5% 5% 3% 2% 6% 1. ccountability— No one is above the law. SIGTARP and our law enforcement A partners held every one of the 250 convicted defendants accountable for their crimes. In addition to the 148 convicted defendants who have already been sentenced to prison, others await sentencing. SIGTARP is conducting investigations that are not yet at the stage of criminal charges. We continue to find crime and open new investigations and will, with our law enforcement partners, hold others accountable in the future. 2. aking the Profit Out of Crime— Crime must not pay. SIGTARP’s T investigations have already resulted in $10.29 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 $6.11 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. In some cases, D the crime jeopardized the safety and soundness of a bank that applied for or received TARP. In other cases, multiple losses must be deterred to avoid creating a 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 so that they are never again in a position 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.iv These investigations have resulted in charges against defendants holding a variety of jobs, including 80 bank employees, and 89 mortgage modification scammers. Sixty-two percent of those charged are senior officials. Figure 1.10 represents a breakdown of criminal charges from SIGTARP investigations resulting in prison sentences. 17% 60% Senior Executive Housing Scam Bank Employee Straw Borrower/Investor Individual Other Attorney Note: Numbers may not total due to rounding. Criminal Intent of People SIGTARP Investigates The 250 convicted defendants SIGTARP investigated knew what they were doing—they had criminal intent—which is what SIGTARP has proven. Further, each of the 148 sentenced to prison of the 250 convicted defendants intentionally made a decision that carried the consequence of incarceration. SIGTARP makes arrests, and courts impose prison sentences, but those are consequences of the decisions made by each of these defendants to step over the line from what is legal iv The prosecutors partnered with SIGTARP ultimately decided which criminal charges to bring resulting from SIGTARP’s investigations. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 to what is not. Each convicted defendant SIGTARP investigated made a choice. They chose to break the law. They may justify their actions, but they knew what they were doing. SIGTARP investigates three general categories of criminal defendants, and although they may be very different, each one turned to crime. SIGTARP Defendant Category 1: It is not the first time these defendants have been charged with a crime. They have a criminal record. They know what they are doing is wrong. They have done wrong before. Category one defendants SIGTARP investigates have criminal intent. SIGTARP Defendant Category 2: Bankers or bank borrowers who use a bank that received or applied for TARP to further their own private interests. Their crimes typically involve self-dealing, personal profit, and are often motivated by greed. They may have never been charged with a crime before, which may be because they have never been caught before or may be because this is their first crime. Category two defendants SIGTARP investigates have criminal intent. SIGTARP Defendant Category 3: First time offenders having never before committed a crime. They may have been upstanding, law-abiding citizens who lived honest lives and performed good deeds. Greed might still motivate them, but their crimes may not involve self-dealing or personal profit beyond keeping their jobs or stock in the bank. Generally, as SIGTARP has learned in its investigations, the motivation of defendants in this third category differs if the person masterminds/ orchestrates the criminal scheme (typically a CEO or other high level officer) or is a co-conspirator who carries out the criminal scheme (typically an employee such as a bank loan officer or large bank customer). Both have criminal intent. SIGTARP rejects the argument that the financial crisis shields criminal liability. The financial crisis becomes too easy an excuse for bankers or their co-conspirators who crossed the line, and knew that they crossed the line. Judges and juries have rejected that argument too. The financial crisis was a crossroad for many bankers. Thousands in banking faced losses without turning to crime. They told the truth in the bank’s books. When loans went past due, or collateral for the loans declined in value, they truthfully reserved for losses. When loans went bad, they charged them off. And they suffered the consequences. Some lost their jobs, some lost significant money, and some saw their bank fail or be acquired or lose reputation and customers. But others SIGTARP investigates walked up to the line that defines what is legal and what is a crime and made a decision to cross that line. They knew that they crossed the line. They may have justified it, but they knew. They had criminal intent. The defendants SIGTARP investigates who are first time offenders may convince themselves that their actions are justified because of the loss they would face— losing what they feel is theirs or a very part of how they define themselves— but they committed a crime. SIGTARP sees a pattern in many of our investigations that the loss these defendants faced during the crisis was a consequence of excessive risk-taking they took before the crisis, with the defendants turning to crime to avoid the consequences. If times had remained good, the risk may pay off with a handsome upside. But, when good times turn bad, the downside for a bank can be treacherous. 33 34 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM These consequences include, for example, increasing non-performing bank loan balances that should be reserved for losses or charged off, loans without sufficient collateral, or too many foreclosed properties on the bank’s books, all of which threaten the health of the bank, and all of which must be recorded truthfully in the bank’s books. Once a banker chooses to conduct one criminal act, it can snowball, turning one crime into a criminal scheme. A banker may commit the first crime of making a false entry into a bank’s books, then commit additional crimes by lying to the regulator who asks about the entry, and including that fraudulent entry in call reports and financial statements sent to regulators (and Treasury to apply for TARP) and sent to investors including Treasury (for TARP banks). They can commit the crime of conspiracy by bringing in others to the scheme. SIGTARP investigates co-conspirators because without the co-conspirators, many of these criminal schemes could not have been committed. Typically, co-conspirators may be bank officers or other employees who work for those who mastermind/orchestrate the criminal scheme or may be large borrowers of the bank (who may be not current on their loan). They may make false entries in the bank’s books, hide from auditors, accountants or regulators current appraisals showing that collateral has decreased in value, lie to a regulator, send false bank records to regulators or take any number of other actions to carry out the criminal scheme. Each co-conspirator faced the same line and chose to cross it. They often have a different motivation than those who mastermind/orchestrate the scheme. Coconspirators may be motivated to turn to crime because of loyalty to their boss, or fear of losing their job, particularly during a time of crisis. 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 357 defendants investigated by SIGTARP were charged in courts in 30 states and Washington, DC, with victims in all 50 states and Washington, DC. Figure 1.12 shows locations where criminal charges were filed by Federal or State prosecutors as a result of SIGTARP investigations.v v he prosecutors partnered with SIGTARP ultimately decide the venue in which to bring criminal charges resulting from SIGTARP’s T investigations. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 1.12 LOCATIONS WHERE CRIMINAL CHARGES WERE FILED AS A RESULT OF SIGTARP INVESTIGATIONS Tacoma Fargo Concord Boise Sacramento Salt Lake City Oakland San Francisco Fresno Las Vegas Los Angeles Santa Ana Boston Hartford Buffalo Brooklyn New Haven Madison White Plains Bridgeport New York Central Islip Rockford Chicago Newark Wheaton Philadelphia Omaha Columbus Wilmington Upper Marlboro Lincoln Baltimore Peoria Washington, DC Denver Alexandria Louisville Kansas City (KS) Kansas City (MO) Norfolk Lexington East St. Louis Wichita Jefferson City St. Louis Knoxville Nashville Bakersfield Riverside San Diego Little Rock Rome Birmingham San Antonio Gainesville Atlanta Macon Valdosta Pensacola New Orleans Orlando Houston Tampa 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 Bakersfield 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 Tampa 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 Eastern District of Kentucky Lexington Western District of Kentucky Louisville Eastern District of Louisiana New Orleans Prince George’s District Court Upper Marlboro District of Massachusetts Boston District of Maryland Baltimore 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 Southern District of Texas Houston 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 35 36 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Prison Sentences Resulting From SIGTARP Criminal Investigations As a result of a SIGTARP investigation, already 148 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 37 month prison sentences involving white collar fraud.vi On average, as a result of SIGTARP investigations, criminals convicted of crimes related to banking have been sentenced to serve 64 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 52 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 1.13 shows the people sentenced to prison, the sentences they received, and their affiliations. vi See the U.S. Sentencing Commission’s 2014 Sourcebook of Federal Sentencing Statistics for additional information. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 1.13 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 37 38 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 Paul Chemidlin 60 months 3 years supervised release Fraudulent real estate appraiser Blue and White Mgmt, Ameridream Bernard McGarry 60 months 3 years supervised release Chief Operating 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 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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. 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 39 40 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 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 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 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Teresa Kelly 3 months 3 years supervised release Operations Supervisor Colonial Bank Yazmin Soto-Cruz 1 day 3 years supervised release Co-owner New Jersey Property Management 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 5 years supervised release Michael Bradley Bowen 1 day 5 years supervised release 41 42 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TARP-Related Investigations Activity Since the April 2016 Quarterly Report Each quarter SIGTARP investigations result in a number of charges, convictions, and prison sentences as set forth in Figures 1.4-1.9. 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 Investigations and Enforcement Against TARP Banks and Bankers First Case Nation-Wide Where TARP Applicant Banker Defendants Found Guilty of TARP Fraud—Jury Delivers Guilty Verdicts Against Former CEO and Chairman In Fraud Scheme to Get $13.5 Million In Bailout Funds On April 27, 2016, following a 18 day jury trial in the U.S. District Court for the Eastern District of Pennsylvania, a Federal jury returned guilty verdicts against Brian Hartline and Barry Bekkedam, the former President and Chief Executive Officer, and Chairman (respectively) in a scheme to defraud the government into giving NOVA bank $13.5 million in TARP funds. Both defendants were found guilty of conspiracy to defraud the United States, TARP fraud, and two counts of false statements to the Federal Government. In June 2009, NOVA Bank was approved to receive $13.5 million in TARP funds on the condition that the bank raise $15 million in additional, private capital. Bekkedam and Hartline devised a scheme to make NOVA bank appear more financially sound than it was – that new money was being invested in the bank. As part of the scheme, in May 2009 the defendants arranged for NOVA Bank to loan money to a Florida businessman and for the Florida businessman to transfer the funds to NOVA’s parent company so it would appear as though the bank had new capital from an outside investor. In fact, the “new money” investment was the bank’s own money. In October and December 2009, Bekkedam and Hartline convinced two others to make similar “investments” using loans from NOVA to make NOVA appear more financially sound than it actually was. The defendants also told and directed employees to tell the U.S. Department of the Treasury that NOVA had raised new capital when it had not. The defendants concealed the true purpose of the loan to the Florida businessman and falsely stated the purposes of the other two loans. The bank ultimately did not receive TARP funds and in October 2012, the bank failed. The case was investigated by SIGTARP, the FBI, the FDIC OIG, FRB OIG and the CFPB. The case is being prosecuted by United States Attorney’s Office for the Eastern District of Pennsylvania. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 TARP Banker Charged with Conspiring to Defraud His Employer, TARP Recipient Bank On May 5, 2016, Daniel Sexton, Jonathan Williams, Joseph Tobin and Sheila Flynn were charged with a scheme to defraud, or attempting to do so, from May 2006 to September 2010 at various banks. Tobin, a former loan officer at TARP recipient PBI Bank, and his co-conspirators allegedly conspired to defraud TARP recipient, PBI bank, of millions of dollars. As a loan officer, Tobin allegedly took part in a four-year fraud scheme that began prior to the financial crisis in 2006 that resulted in PBI Bank repeatedly funding millions in loans based on false information. Porter Bancorp, Inc., the parent company of PBI Bank received $35,000,000 in TARP funds from Treasury in exchange for preferred shares in the Porter Bancorp, Inc., which was sold at a loss by Treasury of $31,500,000. Additionally, Porter Bancorp, Inc., missed 13 dividend payments totaling $6,737,500. SIGTARP investigated this case and it is being prosecuted by the United State Attorney’s Office for the Eastern District of Kentucky. Banker Indicted In Scheme to Defraud TARP Recipient Bank of $13 Million to Finance a Movie On April 27, 2016, Darryl Wesley Clements and Rodney Patrick Dunn, an employee at TARP recipient The Harbor Bank of Maryland, were charged with a scheme to defraud the bank to secure $13 million in financing for a movie. Harbor Bankshares Corporation, the parent company of The Harbor Bank of Maryland, received $6,800,000 in TARP funds, all of which remains outstanding. Additionally, Harbor Bankshares Corporation missed 24 dividend payments totaling $2,686,000 (of which $2,516,000 is still owed). This case is being investigated by SIGTARP and the FBI and is being prosecuted by the United States Attorney’s Office for the District of Maryland. Investigations for Using or Defrauding TARP Institutions Connecticut Man Found Guilty In Multimillion Dollar Insurance Scheme On June 9, 2016, Daniel Carpenter was found guilty, following a bench trial for a scheme to defraud insurance companies into issuing insurance policies on the lives of elderly people. Lincoln National Life Insurance Co, a subsidiary of Lincoln National Corp, a $950 million TARP recipient was defrauded. This matter is being investigated by SIGTARP, and the U.S. Department of Labor – OIG, the U.S. Department of Labor – Employee Benefits Security Administration’s Boston Office. The case is being prosecuted by United States Attorney’s Office the Department of Connecticut. Massachusetts Woman Charged with Mortgage Fraud Against TARP Banks On May 25, 2016, Denise Bruce, pleaded guilty to bank fraud for defrauding mortgage companies, including subsidiaries of three TARP recipient banks (JPMorgan Chase, Wells Fargo, and Goldman Sachs), with multiple mortgages she obtained on a single residence. The case is being investigated by SIGTARP, the 43 44 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM United States Attorney’s Office for the District of Massachusetts, and the Federal Housing Finance Agency – OIG. Investigations Relating to TARP Housing Assistance Programs California Man Found Guilty of Orchestrating $31 Million Mortgage Modification Fraud Scheme with Over 30,000 Victims Nationwide On May 3, 2016, Dionysius Fiumano, following a several day trial, was found guilty for orchestrating a massive mortgage modification scheme through which he and his co-conspirators defrauded more than 30,000 American homeowners out of approximately $31 million feigning affiliation with Treasury’s official homeowner relief program, the Home Affordable Modification Program (HAMP). When consumer complaints attracted attention, the co-conspirators renamed their companies to continue the fraud. Fiumano was the ringleader with three co-conspirators, Pedram Abghari, Justin Romano, and Mahyar Mohases, who pled guilty for their roles in the scheme. This case was investigated by SIGTARP and is being prosecuted by the U.S. Attorney’s Office for the Southern District of New York’s Complex Frauds and Cybercrime Unit. California Men Pleaded Guilty to Defrauding More Than 400 Homeowners Out of $2.7 Million On March 31, 2016, Chad Caldaronello, aka Chad Carlson, and aka Chad Johnson pleaded guilty, together with co-conspirators, including Brian Pacios, to a $2.7 million mortgage modification scheme. Their businesses “HOPE Services” and “HAMP Services,” promised loan modifications to more than 400 distressed homeowners claimed that they were authorized by Federal Government to help facilitate the loan modification process. SIGTARP investigated the case with the FBI. The case is being prosecuted by the United States Attorney’s Office for the Central District of California. Unlicensed Real Estate Appraiser Admits Role in Mortgage Fraud Scheme On April 26, 2016, Paul Chemidlin was sentenced to 5 years in prison and ordered to pay $1,518,499 in restitution for mortgage fraud, including submitting false mortgage loan applications to mortgage lenders, TARP banks. This case was investigated by SIGTARP, the FBI Newark Mortgage Fraud Task Force; the U.S. Postal Inspection Service, HUD-OIG; FHFA-OIG; IRS–CI; and the Hudson County Prosecutor’s Office. This case was prosecuted by the United States Attorney’s Office for the District of New Jersey. Owner of California Company that Offered Mortgage Assistance Pleads Guilty to False Advertising Charges On May 3, 2016, John Vescera pleaded guilty to false advertising and misusing a government seal in connection with a mortgage modification scheme. From 2010 until approximately 2012, Vescera and his company First One Lending Corporation (First One) solicited clients through television advertisements and infomercials QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 which touted the mortgage modification services of an entity known as the National Mortgage Help Center (NMHC). NMHC advertisements misrepresented NMHC its affiliation U.S. Government and falsely stated that NMHC “help[ed] thousands of homeowners every day.” First One fraudulently claimed an affiliation with government mortgage loan assistance programs, including HAMP, and that it was licensed or approved by HUD for housing counseling or home mortgage loan modification services. This case was investigated by SIGTARP, the U.S. Postal Inspection Service – OIG, HUD-OIG, and the FBI. The case is being prosecuted by United States Attorney’s Office for the District of Connecticut. New York Man Pleads Guilty to Defrauding Homeowners in Loan Modification Scheme On June 16, 2016, David Gotterup pleaded guilty to a scheme to defraud distressed homeowners who were seeking relief through government mortgage modification programs, including HAMP, and conducting a mortgage fraud on TARP recipient banks. This case is being prosecuted by the United States Attorney’s Office for the Eastern District of New York. SIGTARP Independent Oversightvii SIGTARP prevents fraud, identifies wasteful spending, and drives improvements in ongoing $38 billion in TARP programs. When an audit confirms a program is at risk, SIGTARP looks for ways to fix the problem by leveraging best practices and our extensive knowledge of TARP. We then issue recommendations to Treasury, which we share with Congress and the public. SIGTARP focuses on work that has the power and potential to drive change where change is needed. Key Milestones • Testified before Congress 10 times on reports • Reports widely covered by Members of Congress and media which helps drive change • Forensic audit team with the ability to deep dive to root out waste and fraud • Jurisdiction allows SIGTARP to audit everyone involved in TARP programs, not just Treasury employees, allowing for more complete cross-cutting findings. This includes for example, state agencies, city agencies, demolition contractors and subcontractors, and mortgage servicers. Recent Reports • SIGTARP recently reported that the $622 million blight demolition program under the Hardest Hit Fund is significantly vulnerable to fraud, bid rigging, other closed-door contract awards, and overcharging. There are no Federal competition requirements or limitations that Federal funds only pay for costs that are necessary and reasonable that apply to the 280 local partners and all of their subcontractors. SIGTARP recommended that these vulnerabilities vii Blight Elimination figures as of audit report date may not reflect current information. 45 46 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM can be easily strengthened by adopting similar requirements as HUD in its blight demolition program. SIGTARP reported that the state agencies also have no competition or overcharging requirements to protect against these vulnerabilities. • SIGTARP recently reported about risks associated with non-bank mortgage servicers (such as Ocwen, Nationstar, etc.) who Treasury has already paid more than $1 billion in Federal TARP funds, largely running TARP’s HAMP program. Some of these servicers have already been found to violate the law and Treasury’s rules on HAMP. • SIGTARP has recently reported on low-performing state agencies in the $10 billion Hardest Hit Fund that continue to be paid Federal TARP dollars but do not get the assistance out to homeowners effectively. SIGTARP made recommendations on how Treasury can bring accountability to low performing agencies that Treasury pays to administer this program. Recent Audit/Evaluation Release “Treasury’s HHF Blight Elimination Program Lacks Important Federal Protections Against Fraud, Waste, and Abuse” On June 16, 2016, SIGTARP published “Treasury’s HHF Blight Elimination Program Lacks Important Federal Protections Against Fraud, Waste, and Abuse”. In that report SIGTARP found that the Federal Government funds two main programs for the demolition of blighted houses, but only the U.S. Department of Housing and Urban Development’s (“HUD”) program has Federal requirements to protect the Government against substantial risks inherent in contracting for demolition work—Treasury’s Hardest Hit Fund does not. SIGTARP found that blight elimination under Treasury’s Hardest Hit Fund lacks very basic Federal requirements that govern HUD’s blight elimination program. While TARP-funded demolition of abandoned houses has great potential benefit to communities, the absence of Federal requirements specific to the risks inherent in blight elimination like those that exist in HUD’s blight elimination program puts Treasury’s program at great risk of fraud, waste, and abuse. At least one city mayor seeking funds under Treasury’s program stated publicly that these funds come with no stipulations—a perception that will only change when Treasury creates Federal stipulations to mitigate substantial risk. Right now, the risks of HHF blight elimination continue unregulated and unchecked for more than half a billion Federal dollars. Treasury followed HUD’s lead in creating a Federally-funded blight elimination program, but made its program bigger (nearly $622 million compared to HUD’s $300 million) and without blight-specific Federal requirements designed to protect against the risks inherent in this activity. While Treasury conducted a written analysis of the benefits of expanding HHF to include blight elimination, there is no Treasury written analysis of the risks. It should have been obvious to Treasury that demolition activities and the flow of Federal dollars through hundreds of individuals, companies, and other non-Federal entities carry far greater risk to the Federal Government than providing Federal funds to unemployed or at-risk QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 homeowners, which had previously been HHF’s sole activity. Treasury could have used HUD as a model for Federal requirements needed to mitigate risks inherent in blight elimination, but it did not—instead only amending its contract with participating state agencies with 2-3 pages of provisions in large type that are insufficient to protect against risks inherent to contracting for demolition and other activities. Treasury’s Hardest Hit Fund program is significantly vulnerable to the substantial risks of unfair competitive practices and overcharging, either of which could lead to fraud, waste, and abuse. The most glaring difference between the two Federal blight programs is that HUD requires: (1) full and open competition (and other competition requirements); and (2) that demolition and other costs must be necessary and reasonable. Treasury requires neither. Treasury’s program is at far greater risk than HUD’s program given that Treasury has zero Federal requirements for competition. Unlike Treasury, HUD does not leave competition to chance. Without similar requirements to HUD, Treasury is not conducting any oversight over whether there is competition in the solicitation or awarding of Federal funds or whether costs are necessary and reasonable. This means that more than half a billion in Federal dollars contracted with nearly 280 local partners, each who may have contractors and subcontractors, is being expended with zero Federal requirements for competition, and no requirement that demolition costs be necessary and reasonable. There is a substantial public interest in having Federal requirements for competition in this TARP program. Federal requirements for competition are designed to keep programs fair. The Administration has said that competition drives down costs, motivates better contractor performance, helps curb fraud and waste, and promotes innovation. Favoritism, undue influence, contract steering, bid-rigging, and other closed-door contracting processes, can result from a lack of Federal requirements for competition. There is no harm in Treasury creating Federal requirements for full and open competition, and other competition requirements, similar to HUD’s program. HUD’s program allows for the same locally-tailored solutions and flexibility that Treasury seeks, only with accountability and oversight not present in HHF, and with less risk of fraud, waste, and abuse. HUD protects the Federal Government and the program through 6 pages in small font of Federal requirements for competition, requirements that flow down to state and local governments. By contrast, in the face of Treasury’s silence, the state agencies administering Treasury’s program have no requirements for full and open competition in this program, with one very small exception. One small agency in South Carolina, which is allocated 6% of total funding for TARP blight elimination, requires “open and free” competition, leaving 94% of this program (nearly $590 million in Treasury funding) with no requirement for full and open competition. Clearly, HHF South Carolina has determined that there is no harm in requiring full and open competition, just as there would be no harm to the remaining $590 million in funding through six other HHF state agencies. Beyond HHF South Carolina’s single paragraph on competition, HHF Alabama (which is allocated 4% 47 48 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM of TARP funding for blight elimination) has a single sentence in its guidelines on competition (requiring two bids), evidencing that there is no harm in competition. Those running this program (Treasury and state agencies) are essentially allowing the recipients of Federal funds to determine whether to have competition and in what form. This has led to a patchwork of inconsistent or non-existent practices on competition. Treasury does not require that nearly $622 million in Federal funds will even be bid out at all. Treasury does not require that competition be full and open, prohibit a single quote from a sole source, or prohibit placing unreasonable requirements on firms to qualify. Two small HHF state agencies are the only ones in this program even attempting to set any requirements for competition, which is insufficient to protect nearly $622 million. Unlike Treasury, HUD does not allow the recipient of Federal dollars to set the rules on competition, but instead layers on any state or local laws or rules that might apply on top of Federal requirements. Unlike HUD, Treasury’s program relies exclusively on state/city laws or rules. Local rules may not even apply to the nearly 280 local partners in Treasury’s program because most (87%) of them are not municipalities or public agencies, but instead include nearly 100 individuals, 8 forprofit companies, 105 non-profit entities, and 33 land banks. Any rules that may apply are varied, leaving the Federal Government substantially at risk compared to HUD’s blight elimination program. SIGTARP also found that HUD limits Federal dollars for blight elimination to only necessary and reasonable costs, but Treasury does not, leaving HHF at risk of overcharges, waste, and fraud. Treasury has a cap of $25,000 or $35,000 per property, which is not sufficient to protect the Federal Government from paying for costs that are not necessary and reasonable. Treasury’s cap far exceeds the average cost of demolition, reflective of worst-case-scenarios. Treasury’s Blight Elimination Program is leaving the analysis of what is necessary and reasonable to the recipients of Federal funds. HUD does not place such trust or hope in recipients to protect the Federal Government. At the very least, Treasury’s program should have the same protection as the other Federally-funded blight elimination program. The requirements of a grant program (at HUD) should be the bare minimum for a TARP program. HHF does not have to be a grant for Treasury to protect it. That would be form over substance. Federal grant funds are not the only Federal funds that should be protected. TARP funds are bailout funds that Congress designed to be accompanied by accountability. TARP funds should have more accountability and oversight than grant programs. Treasury should make its own requirements to protect the program. The Hardest Hit Fund is a homeowner bailout program fought for by Congress, which rejected TARP at first. It is not a bailout of cities, no matter how good the intentions, or developers, construction companies, non-profits, for-profits, land banks, or individuals who are not at-risk homeowners. This program has a lot of self-interests involved and with that come risks and vulnerabilities that need strong protection—protection that exists in HUD’s program, but not in Treasury’s program. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 TARP funds for demolitions of abandoned properties were taken from programs that directly gave TARP money to homeowners, primarily in the form of unemployment and underemployment assistance. Every dollar that pays a demolition contractor for costs that are not necessary or reasonable is a dollar taken away from a homeowner. Every dollar that pays a demolition contractor for costs that are not necessary or reasonable is a dollar taken away from demolishing an abandoned house that causes safety concerns for a neighborhood. That is why it is so important that Treasury create Federal rules to protect this program and these bailout funds, and why it is so important that everyone with oversight of TARP keeps this new use of TARP for razing homes tightly focused and protected. 49 50 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM S ECT I O N 2 SIGTARP RECOMMENDATIONS 52 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 A fundamental role of an office of an Inspector General is to identify vulnerabilities to fraud, waste and abuse and provide recommendations to protect against those vulnerabilities. When we see an open door to fraud in a TARP program, our responsibility is to warn Treasury, and help them shut that door. Treasury has its own responsibility to ensure that TARP programs are free from fraud and waste. On June 16, 2016, SIGTARP issued an audit report, “Treasury’s HHF Blight Elimination Program Lacks Important Federal Protections Against Fraud, Waste and Abuse” to prevent fraud in the TARP’s Hardest Hit Fund. What SIGTARP found is that the lack of Federal requirements for competition in TARP’s $622 million Blight Elimination Program makes the program significantly vulnerable to unfair competitive practices such as bid-rigging, contract steering, and other closed-door contracting processes. The second thing we found is that there is no Federal limit to pay only those demolition costs that are necessary and reasonable, which also opens the door to fraud and waste. We recommended easy fixes to Treasury. There have been two federally funded programs with the same activity to demolish homes, and the same risks, but under two different agencies with two different set of federal rules. All Treasury needs to do is follow HUD’s lead in putting in federal competition requirements and a limit to not pay anything more than is necessary, while allowing flexibility for states. SIGTARP made 20 recommendations for Treasury to do just that, to stop these significant vulnerabilities, address these risks and protect $622 million in taxpayer funds from fraud, waste, and abuse.i Given that Treasury recently allocated millions of additional federal dollars to this program, early adoption of SIGTARP’s recommendations would shut the door to fraud. TREASURY SHOULD REQUIRE FULL AND OPEN COMPETITION FOR BLIGHT ELIMINATION FEDERAL DOLLARS SIGTARP recommended that Treasury require full and open competition for the hundreds of millions of TARP dollars available in the Hardest Hit fund for blight elimination, and make this requirement apply to all partners and participants receiving HHF funds, similar to HUD’s requirement in its blight elimination program. SIGTARP found that Treasury does not require full and open competition (or any competition) for nearly $622 million in Federal funds for blight elimination, leaving the Federal Government substantially at risk compared to HUD’s blight elimination program. Treasury’s agreement with state agencies is silent as to competition. Treasury appears through its silence to be relying on state agencies or state or local laws that may or may not apply. This is unlike HUD, which requires full and open competition, does not rely on local government or state or local laws or rules that i As of June 30, 2016, $791 million in Federal funds have been allocated for blight elimination. 53 54 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM may apply, but instead layers those on top of Federal rules. In the face of Treasury’s silence, the state agencies administering Treasury’s program have no requirements for full and open competition with one small exception: South Carolina, which accounts for only 6% of the total HHF amount allocated to blight elimination, leaving 94% of this program (nearly $590 million in Treasury funding) with no requirement for full and open competition. Treasury’s program is at far greater risk than HUD’s program given that Treasury has zero federal requirements for competition. More than half a billion in federal dollars contracted with nearly 280 local partners,ii each who may have contractors and subcontractors, is being expended with zero federal requirements for competition. Most (87%) of the local partners are not municipalities or public agencies. For example, there are nearly 100 individuals and 8 for-profit-companies who serve as local partners who have received and may receive these Federal funds. TREASURY SHOULD ESTABLISH FEDERAL REQUIREMENTS TO USE COMPETITIVE PROCEDURES WHEN SOLICITING CONTRACTS UNDER THE BLIGHT ELIMINATION PROGRAM SIGTARP made recommendations that Treasury make similar requirements to HUD’s requirements in its blight elimination program: that Treasury generally require that blight elimination work be competitively bid out; prohibit receiving a single quote from a single source; prohibit placing unreasonable requirements on firms to bid; prohibit those who worked on request for proposals from bidding; prohibit noncompetitive pricing practices between affiliated companies; use sealed (anonymous) bids; solicit offers for smaller contracts from an adequate number of qualified bidders from a public request for proposal; and take affirmative steps to use minority and women owned businesses. In stark contrast to HUD, Treasury has no competitive solicitation requirements in its blight elimination program. Treasury does not require the state agencies to require local partners to engage in competition in soliciting work. Treasury does not require that nearly $622 million in Federal funds will even be bid out at all. Even when the work is bid out, there is no requirement that the competition be full and open. There is no prohibition against receiving a single quote from a sole source. There is no prohibition on placing unreasonable restrictions on firms to qualify. There is no preference that bids be sealed. For smaller contracts, there is no requirement to receive quotes from an adequate number of sources. There is no requirement that affirmative steps be taken to use minority and women-owned business. In contrast, HUD’s requirement for full and open competition generally requires all recipients of Federal funds to use competitive procedures when ii As of June 30, 2016, 307 local partners have contracted for blight elimination. SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 soliciting contracts under the blight elimination program. HUD established this requirement, “in order to ensure objective contractor performance and eliminate unfair competitive advantage.” Unlike HUD’s blight elimination program, Treasury and HHF state agencies let those receiving Federal funds (87% of which are not public entities) set the rules and procedures for competition, leaving the program extremely vulnerable to fraud, waste, and abuse. SIGTARP found that unlike HUD, Treasury and the state agencies running HHF Blight Elimination Programs allow the recipients of the Federal funding to decide whether to have competition and in what form–whether and how to advertise or bid out demolition and other contracts. SIGTARP also found that only one state agency under HHF, HHF Alabama has a requirement for bids (HHF Alabama is allocated only 4% of total federal funding under HHF). SIGTARP found that the local partners award contracts using a patchwork of differing standards and procedures. This patchwork situation increases the risk that local partners and their subcontractors may award contracts based on self-interest, favoritism, or use non-competitive practices that lead to inflated costs or other inefficiencies, or fraud, waste, and abuse. This is an open invitation to bid-rigging, contract steering, and other closed-door contract processes. TREASURY SHOULD ESTABLISH FEDERAL COMPETITION REQUIREMENTS TO AWARD CONTRACTS UNDER THE BLIGHT ELIMINATION PROGRAM SIGTARP made recommendations that Treasury make similar requirements to HUD’s requirements in its blight elimination program: that Treasury require written procedures that (1) clearly and accurately describe technical requirements in a way that do not unduly restrict competition, (2) identify all requirements that bidders must fulfill and (3) identify all factors to be used in evaluating bids; require that all prequalified lists of bidders be current and include enough sources to ensure the maximum open and free competition; the sealed bids be evaluated without discussion of the bidders and that firm fixed price contracts be awarded to the lowest bidder who satisfied the terms and conditions; and that fixed or cost-reimbursement contracts be awarded to the vendor whose proposal is most advantageous to the program. Unlike HUD who has strict requirements for competition in awarding contracts in its blight elimination program, Treasury has no competition requirements. Without any federal requirement to do so, SIGTARP found that 6 of 7 state agencies in HHF have no requirements for competition that apply to local partners awarding contracts for $590 million (94% of Federal funds). Unlike HUD, Treasury and the state agencies let those receiving Federal funds (87% of which are not public entities) decide how to award contracts, leaving Treasury’s program extremely vulnerable to fraud. 55 56 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TREASURY SHOULD LIMIT COSTS TO ONLY NECESSARY AND REASONABLE DEMOLITION COSTS SIGTARP recommended that Treasury limit costs to be reimbursed by Hardest Hit Fund dollars to only those demolition or other blight elimination activity costs that are necessary and reasonable, similar to HUD. SIGTARP found that HHF’s Blight Elimination Program is vulnerable to the risk of overcharging and fraud because, in stark contrast to HUD, Treasury has no requirement that Federal funds will only cover blight elimination cost that are necessary and reasonable. Instead, Treasury set a worst case scenario, creating a maximum allowable cost per property of $25,000 to $35,000, depending on the state. Treasury allows for Federal dollars to pay unnecessary and unreasonable costs as long as they fall under a maximum set amount based on the worst-case scenario of costs. This is not sufficient to protect against overpaying, waste, and fraud, because it does not reflect necessary and reasonable costs, but instead far exceeds the average cost of demolition. For example, as of December 31, 2015, Treasury reports the median cost of demolition in Michigan as $10,558 (+$2,700 greening), Indiana $14,918 (+$5,021 acquisition + $4,441 greening) and Ohio $8,100 (+$108 acquisition + $500 greening). None of the state agencies in HHF have a requirement that Federal HHF dollars will only cover demolition costs that are necessary and reasonable. Both HUD and Michigan’s state blight demolition program have necessary and reasonable cost limits. TREASURY AND STATE AGENCIES SHOULD NOT RELY ON THE JUDGMENT OF THOSE RECEIVING FEDERAL FUNDS TO DETERMINE WHAT COSTS ARE NECESSARY AND REASONABLE, BUT INSTEAD DO MORE TO ESTABLISH NECESSARY AND REASONABLE DEMOLITION COSTS SIGTARP recommended that Treasury require state agencies to do more to establish, in writing, what are necessary and reasonable demolition (and other) costs in each city and seek substantial justification for invoices that exceed those costs. Treasury should require state agencies to determine the necessary and reasonable costs in each city by using three best practices: (1) industry experts; (2) third-party market quotes; and (3) established practices and policies regarding current and historical cost information on Federal, state, and local blight elimination, particularly by the same parties conducting those activities. SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Treasury has no way of knowing whether the demolition costs submitted for Hardest Hit Fund dollars are appropriate, and is at a significant disadvantage in identifying any waste, fraud or abuse. Treasury and the state agencies running this program leave it to those receiving these Federal funds to decide how much to charge as long as they stay under $25,000 or $35,000. An official from Michigan’s housing finance agency told SIGTARP that the costs are “pretty much left up to the blight partner,” saying “they’re going to be prudent about their costs.” A reactive approach in establishing what costs are necessary and reasonable by reviewing submitted claims carries a risk that those submitting claims could drive up the price. The cost of demolition under HHF has risen from prior non-HHF demolitions in some of these states. HUD does not place such trust or hope in recipients to protect the Federal government. HHF is more vulnerable than HUD’s program because the vast majority of local partners in HUD’s program are municipalities, but they represent only 13% of the local partners in HHF. Instead, 100 of the local partners in HHF are individuals and 8 are for-profit-companies. Because a federal program that is more than half a billion dollars requires more than trust or hope that costs will be minimized, SIGTARP recommended that Treasury put requirements in place to ensure that does not happen. To arm them with knowledge, state agencies should at a minimum follow the best practices of HUD and other Federal awards to ensure that taxpayers are protected against overpaying for blight elimination. Requirements for full and open competition, competition in solicitation and awarding contracts, and limiting costs to only those that are reasonable and necessary are critically important because they prevent bid-rigging and other unfair contracting practices, overcharging, and fraud. HUD recognized the importance of having such requirements and SIGTARP recommended that Treasury should act now to put into place similar protections using HUD as a model or adopting its own requirements to mitigate the significant vulnerabilities to unfair competition, overcharging, and fraud. Treasury has not agreed to implement these recommendations, deferring to state agencies, which, as SIGTARP found, do not have these requirements, allowing for the same vulnerabilities. Public policy interests support Treasury protecting this program to the same extent as HUD’s program by requiring full and open competition and other competition standards, and limiting costs to only those that are necessary and reasonable, for the remaining hundreds of millions of Federal dollars still available. Federal requirements for competition keep programs fair, drive down costs, motivate better contractor performance, help curb fraud, waste, favoritism, undue influence, contract steering, bid-rigging, and other closed-door contract processes, and promote innovation. HUD’s program has the requirements that SIGTARP recommends to Treasury, while allowing for the same locally-tailored solutions and flexibility that Treasury seeks, only with accountability and oversight not present in HHF, and with less risk of fraud, waste, and abuse. 57 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 58 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 JULY 27, 2016 59 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 60 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 JULY 27, 2016 61 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 62 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 JULY 27, 2016 63 (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 64 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 JULY 27, 2016 65 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 66 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 JULY 27, 2016 67 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 68 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 JULY 27, 2016 69 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 70 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 JULY 27, 2016 71 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 72 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. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. 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. 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. 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 JULY 27, 2016 73 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. 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. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. 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. 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. 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 74 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 JULY 27, 2016 75 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. 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. Treasury has not agreed to -- but should -- implement this important recommendation with a sense of urgency. 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 76 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. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. 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. 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. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. 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 JULY 27, 2016 77 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. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. 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. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. 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. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. 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 78 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 Implementation Status X 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. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. Treasury agreed to implement this important recommendation. SIGTARP urges Treasury to do so with a sense of urgency. 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. 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. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. 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. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. Treasury has not agreed to - but should - implement this important recommendation with a sense of urgency. Partial In Process None TBD/NA Comments 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 SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 79 Treasury should implement a comprehensive set of Federal requirements to mitigate risks associated with blight elimination activities and the contracting for those activities. Treasury should require full and open competition for the hundreds of millions of TARP dollars available in the Hardest Hit Fund for blight elimination, and make that requirement pass through the layers of funding and reimbursement. Treasury should prohibit those who worked on requests for proposals from bidding on blight elimination work under the Hardest Hit Fund, and make that requirement pass through the layers of funding and reimbursement. Treasury should prohibit placing unreasonable requirements on firms in order to have them qualify to do business related to the Hardest Hit Fund’s blight elimination activities, and make that requirement pass through the layers of funding and reimbursement. Treasury should prohibit noncompetitive pricing practices between firms or affiliated companies for blight elimination work under the Hardest Hit Fund, and make that requirement pass through the layers of funding and reimbursement. Treasury should generally require that blight elimination work under the Hardest Hit Fund be competitively bid out, and make that requirement pass through the layers of funding and reimbursement. Treasury should express a preference for the use of sealed bids for blight elimination work under the Hardest Hit Fund, and make that requirement pass through the layers of funding and reimbursement. When sealed bidding is not feasible, Treasury should require the use of competitive proposals for blight elimination work under the Hardest Hit Fund. Treasury should require soliciting offers from an adequate number of qualified bidders through a public request for proposal that details the specific evaluation factors to be used. Treasury should make these requirements pass through the layers of funding and reimbursement. Treasury should only allow noncompetitive methods of solicitation for blight elimination work under the Hardest Hit Fund in rare exceptions, and should delineate those exceptions. Treasury should prohibit receiving a single quote from a single source. Treasury should make these requirements pass through the layers of funding and reimbursement. Treasury should require that recipients of blight elimination funding under the Hardest Hit Fund take all necessary affirmative steps to assure that minority and women owned businesses are used when possible. Treasury should make these requirements pass through the layers of funding and reimbursement. Treasury should require that all non-Federal entities or individuals contracting for blight elimination work under the Hardest Hit Fund establish written procedures that: (1) clearly and accurately describe the technical requirements in a way that does not unduly restrict competition; (2) identify all requirements that bidders must fulfill; and (3) identify all factors to be used in evaluating bids. Treasury should make these requirements pass through the layers of funding and reimbursement. 202 203 204 205 206 207 208 209 210 211 212 Full X X X X X X X X X X X X Continued on next page 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. 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. 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. 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. 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. 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. Treasury should assess in writing all potential risks associated with demolition and other blight elimination activities under the Hardest Hit Fund. Treasury’s analysis should include, but not be limited to, potential risks related to a lack of competition for blight elimination activities, and payments for demolition and other costs that are not necessary or reasonable. (CONTINUED) 201 Recommendation SIGTARP RECOMMENDATIONS TABLE 80 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Treasury should require that when sealed bids are used, that bids are evaluated without discussion of the bidders, and that a firm fixed price contract be awarded to the lowest bidder who satisfied the terms and conditions of the solicitation. Treasury should make these requirements pass through the layers of funding and reimbursement. Treasury should require that when competitive proposals are used for blight elimination work under the Hardest Hit Fund, that either a fixed or a cost-reimbursement contract be awarded to the vendor whose proposal is most advantageous to the program. Treasury should make this requirement pass through the layers of funding and reimbursement. Treasury should conduct oversight to ensure compliance with all of its requirements related to competition for blight elimination under the Hardest Hit Fund. Treasury should limit costs to be reimbursed by Hardest Hit Fund dollars to only those demolition or other blight elimination activity costs that are necessary and reasonable. Treasury should require state housing finance agencies involved in blight elimination under the Hardest Hit Fund to conduct a written analysis of what demolition and other related costs are necessary and reasonable in each city or county, and provide that analysis to Treasury. To conduct this written analysis, Treasury should require the state housing finance agencies to follow best practices including using independent experts, obtaining third party fair market price quotes, and obtaining established practices and policies regarding current and historical cost information on Federal, state, and local bight elimination, particularly by the same parties conducting blight elimination activities under the Hardest Hit Fund. Treasury should require that state housing finance agencies keep this analysis current. Treasury should require state housing finance agencies involved in blight elimination under the Hardest Hit Fund to conduct due diligence necessary for effective review of claims for Federal funds by benchmarking all submitted claims against the written analysis prepared by the state housing finance agency. Treasury should require the state housing finance agencies to engage in higher scrutiny by requiring substantial justification for invoices that exceed the cost in the written analysis, and that state agencies provide a written analysis of its scrutiny of the submitted justification. Treasury should conduct oversight to ensure compliance with all of its requirements limiting reimbursement of blight elimination costs to only those that are necessary and reasonable. 214 215 216 217 218 219 220 Full Note: * Indicates that Treasury considers the recommendation closed and will take no further action. Treasury should require that all prequalified lists of companies and individuals for blight elimination work under the Hardest Hit Fund are current and include enough qualified sources to ensure maximum open and free competition, and prohibit the preclusion of potential bidders from qualifying during the solicitation period. Treasury should make these requirements pass through the layers of funding and reimbursement. (CONTINUED) 213 Recommendation SIGTARP RECOMMENDATIONS TABLE Implementation Status X X X X X X X X 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. 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. 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. 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 JULY 27, 2016 81 82 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM SECT IO N 3 THE PRESENT & CRITICAL NEED FOR FAIR ACCESS TO HARDEST HIT FUNDS BY HOMEOWNERS IN PARTS OF THE COUNTRY STRUGGLING TO JOIN OUR NATION’S RECOVERY BUT WHOSE STATE AGENCIES ARE LOW PERFORMERS 84 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 INTRODUCTION Fair access to billions of unused Federal dollars by the very people a program intended to serve, should not be an ideal, but instead, a minimum standard that all Federal Government programs must meet to be effective. This is particularly true in the case of TARP foreclosure prevention programs because Congress initially rejected Treasury’s proposal for TARP to aid banks, and instead required out of fairness that homeowners also have access to TARP dollars.1 As an Office of Inspector General, SIGTARP has a responsibility to identify for Treasury ways to improve the effectiveness of TARP programs. This includes the Hardest Hit Fund, a TARP program intended to provide unemployed, underemployed, and underwater homeowners in 19 states with access to TARP funds by applying through state agencies chosen by Treasury.2,i SIGTARP has recently released reports showing that access to HHF dollars is not always fair, as homeowners in certain states do not have the same access to Hardest Hit funds as homeowners in other states because of low performance by their state agency.3 SIGTARP has identified for Treasury (and publicly) those low performing state agencies administering the Hardest Hit Fund under contract with Treasury, so that Treasury can implement the “strict transparency and accountability” that the White House promised would apply to these state agencies. The White House promised in 2010, “effective oversight” and that HHF “program effectiveness would be measured.”4 While the Administration’s goal was to give each state agency flexibility in administering the Hardest Hit Fund locally, that flexibility was not intended to result in a state limiting fair access to those funds by its homeowners because of the agency’s low performance. Treasury described flexibility in HHF as “creative, effective approaches to consider local conditions,” (emphasis added).5 A homeowner’s chance at receiving help from a Federal TARP program open in their state should not depend on where they live, just as a bank’s chance at receiving help from a Federal TARP program did not depend on where the bank had its headquarters. There is an urgent need for Treasury to bring accountability now to low performing state agencies in the Hardest Hit Fund in order to ensure fair access to HHF dollars by homeowners in those states, and that need is made even more critical by the fact that the low performing agencies are in states where homeowners still feel the impact of the unemployment, underemployment, and negative equity that marked the financial crisis, even while HHF dollars allocated for homeowners in their state sit unused.ii Homeowners that fall into categories this program intended to serve, who still struggle to join our nation’s recovery, are entitled to the same access to Hardest Hit funds as homeowners in other states. Based on a desire for fair access by struggling homeowners to unused HHF funds, on March 25, 2016, 11 members of Congress asked for Presidential intervention and hands-on leadership to redirect and save the Hardest Hit Fund. These 11 Congressmen told the President by letter (attached to this report), “We i Underwater mortgages are where the homeowner owes more than the current value of the home. ii Negative equity is another description for underwater homes as the home has less than zero in equity based on the mortgage being higher than the value of the home. 85 86 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM realize that for many, the housing crisis appears over, but many homeowners are still desperately awaiting the long-promised foreclosure mitigation assistance. In HHF states, the crisis continues.” This group of Congressmen told the President, “Keeping programs under local control is an attractive idea, but it is painfully clear that this has not worked for the HHF program.” The group of Congressmen asked the President for hands-on leadership to increase program participation, to get unused Hardest Hit Fund dollars distributed, and “to ensure that homeowners in every state receive fair access to [HHF] resources.” These 11 members of Congress representing homeowners in Alabama, California, Florida, Georgia, Michigan, Nevada, and Ohio see a present need for the Hardest Hit Fund in their districts, and they are right to be concerned. Recent data on foreclosures, delinquent mortgages, unemployment, underemployment, and underwater homes in their states evidence that there is a present need for the Hardest Hit Fund, despite low HHF performance by agencies in those states. Treasury and the Congress recognized the continued need for homeowners to have access to Hardest Hit funds by recently transferring $2 billion unused in TARP’s HAMP program to the Hardest Hit Fund.6 The 11 members of Congress told the President that the $2 billion will be a boon to states that have been successful in reaching homeowners through the program, but will do little for homeowners in states that have struggled to use resources in the past. Ensuring that the new $2 billion plus existing-unused-Hardest Hit Funddollars is provided with fair access to homeowners in all participating states requires immediate action by Treasury to fix local agency ineffectiveness that limit fair access to HHF by homeowners in their states. Treasury contracts with the state agencies giving homeowners no choice. Treasury rejected prior SIGTARP recommendations designed to fix these problems through holding state agencies accountable citing to a desire to maintain state agency flexibility. As a result, over the last two years, there has been essentially no improvement in the low nationwide 43% of applying homeowners who were admitted to the program to receive Hardest Hit Fund assistance, as these low performing state agencies drive down nationwide averages.7,iii Several state agencies have been allowed to perform well below this already-low national homeowner admission rate year after year, restricting their homeowners’ fair access to HHF funds. Currently, an unemployed, underemployed, or underwater homeowner’s fair access to HHF funds depends entirely on the effectiveness of the state agency that homeowners must go through to gain that access, when instead Treasury should fulfill the effective accountability and oversight promised to protect homeowners’ fair access to these funds. Low percentages of homeowners receiving assistance of those who apply, lengthy delays in state agency’s processing of homeowner applications, and high numbers of withdrawn homeowner applications result in Hardest Hit funds sitting unused, despite the present need for these funds in certain states, removing the same chance that homeowners in those state have to access those funds as homeowners in other participating states. iii This percentage is calculated through basic arithmetic of the number of homeowners who received HHF assistance divided by the number who applied. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Given that HHF remains an emergency program, Treasury should take action now to hold low performing state agencies accountable for providing fair access to homeowners while there is a present need, and not rely on incremental improvements to come in future years when it may be too late for some. Without the strict Treasury oversight promised by the White House to ensure that local work is not only creative, but effective, homeowners in many states (including most of the states represented by the 11 Congressmen) have less of a chance of receiving Hardest Hit Fund assistance than homeowners in other states, and this program will not do all that it can to live up to its name to help unemployed, underemployed and underwater homeowners in these hardest hit states. THE LAST TWO YEARS HAVE SHOWN ESSENTIALLY NO PROGRESS IN INCREASING THE LOW NATIONWIDE RATE OF APPLYING HOMEOWNERS WHO RECEIVE HARDEST HIT FUND ASSISTANCE BECAUSE OF LOW PERFORMING STATE AGENCIES THAT DRIVE DOWN THE NATIONWIDE RATE In the letter to the President, the 11 members of Congress discussed SIGTARP’s finding that fewer than half of those that apply for HHF obtain assistance, a situation that has not improved during the last two years: As of March 31, 2016, only 42.6% (256,361 of 601,838) of homeowners who applied for the Hardest Hit Fund received any assistance—a low homeowner admission rate. Unfortunately for homeowners seeking Hardest hit Fund assistance, there has been almost no progress in improving low homeowner admission rates to the program:8 As of March 31, 2015, only 42.4% (226,511 of 534,406) of homeowners who applied for HHF assistance received that assistance. As of March 31, 2014, only 42.4% (178,797 of 421,366) of homeowners who applied for the HHF assistance received that assistance. 87 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM State agencies that continue to have low performance year after year have driven down the nationwide rate, and are holding that rate down. During those two years while Treasury did not take action to hold low performing state agencies accountable, the percentage of applying homeowners who received help remained stagnate, and billions of Hardest Hit Fund dollars sat unused at Treasury. The Chances of a Homeowner Receiving Hardest Hit Fund Assistance In Low Performing States (Represented by Most of the 11 Congressmen Who Sought Presidential Intervention) Are Not the Same Compared to the Chance of Homeowners In Other States Homeowners in all but two of the states represented by these 11 members of Congress are less likely to get Hardest Hit Fund assistance than the national average. For example, only one in five Florida homeowners, one in four Alabama homeowners, and less than one in three Georgia homeowners who sought HHF assistance actually received it, while less than 37% of the homeowners in Nevada, and 41% of homeowners in California, who applied for HHF assistance received it.9 See Figure 3.1. Every quarter, Treasury publishes a Hardest Hit Quarterly Performance Summary which reports on the growth in numbers of homeowners assisted. FIGURE 3.1 HHF HOMEOWNER ADMISSION RATE 100% 90% 81% 80% 80% 79% 71% 68% 70% 67% 67% 64% 64% 60% 49% 50% 44% National Average: 43% 40% 43% 42% 41% 30% 37% 30% 25% 24% 20% 21% 10% HHF Homeowner Admission Rate Source: Treasury, “HFA Aggregate Quarterly Report Q1 2016,” no date, www.treasury.gov/initiatives/financial-stability/reports/Documents/HFA%20Aggregate%20Q12016 %20Report.pdf, accessed 7/7/2016. rida Flo a bam Ala ona Ariz rgia Geo ada Nev nia ifor Cal gon Ore lina hC aro ey Sou t Jer s New an hig Mic de Isla nd pi Rho ssip Mis si Nor th C aro lina ky tuc Ken ois Illin o Ohi ee ess Ten n Ind ian a tric t of Col um bia 0% Dis 88 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 By focusing performance results on incremental increases in the number of homeowners admitted into the program each quarter, Treasury and state housing finance agencies are missing an opportunity to focus on other metrics that not only require transparency, but that must change in order for the Hardest Hit Fund to be at its most effective and provide fair access to homeowners. Given the additional $2 billion investment the Congress has made in the Hardest Hit Fund, Treasury should hold low performing state agencies accountable to, at a minimum, increase the percentage of applying homeowners who are admitted into the program to the nationwide homeowner admission rate of 43%. This would serve to increase the nationwide percentage of homeowners admitted to the program. Recommendations to Improve the Percentages of Applying Homeowners Who Receive Hardest Hit Fund Assistance Were Unimplemented by Treasury, Which Eliminated An Opportunity to Improve Fair Access to HHF Funds SIGTARP’s recent reports and recommendations to Treasury were made with the goal of improving program performance so that the intended recipients of these dollars — unemployed/underemployed and underwater homeowners — have fair access to that assistance. In October 2015, in an audit that focused on factors impacting the effectiveness of the Hardest Hit Fund in Florida, SIGTARP issued formal recommendations to Treasury designed to increase the admission rates for homeowners into the Hardest Hit Fund Florida:10 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 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. While this recommendation related to the Hardest Hit Fund Florida, Treasury should apply it to all in states lagging behind the already low national average, including Alabama, Arizona, California, Georgia, and Nevada. Facilitating fair access to unused Hardest Hit Funds necessarily requires that low performing state agencies decrease high numbers of homeowners denied or whose applications were withdrawn. Disproportionately high percentages of homeowners whose applications to the Hardest Hit Fund are denied, such as the Hardest Hit Fund Georgia which denied almost 40% of all applying homeowners, prevents fair access to Hardest Hit funds for Georgian homeowners. In October 2015, SIGTARP recommended:11 89 90 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 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.12 Low rates of homeowners receiving Hardest Hit Fund dollars, and high percentages of homeowners denied for the program are evidence that low performing state agencies are obstacles to homeowners’ fair access to assistance. In October 2015, SIGTARP recommended how Treasury should improve the low homeowner admission rates in the Hardest Hit Fund as follows:13 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. Identifying low performing state agencies is the first step to ensuring homeowners have fair access to HHF. Treasury has watched program performance over the last 6 years in 19 states and should be able to not only understand the reasons why SIGTARP identified certain state agencies as low performing, but should dig deeper in determining the root cause for low performance. Root causes to state agency low performance can include program eligibility requirements in one state that may be far too strict to address the typical unemployed or underwater homeowner in that state (requirements that may need to be expanded), and required documentation that many homeowners have difficulty producing (which may be unnecessary), as well as other root causes that Treasury has seen in other state agencies that have turned around low performance. Treasury could have used these recommendations as a catalyst for change for low performing state agencies, but did not, and as a result, the low homeowner admission rates to the program nationwide have remained entirely stagnant, and the root causes to homeowners receiving fair access to this assistance have been overlooked. Without the accountability and Treasury oversight that SIGTARP recommends, homeowners in many states (including most of the states represented by the 11 members of Congress) have less of a chance of receiving Hardest Hit Fund assistance than homeowners in other states. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 LENGTHY DELAYS IN PROCESSING HOMEOWNER APPLICATIONS TO THE HARDEST HIT FUND CONTINUE TO STAND AS A FORMIDABLE OBSTACLE TO FAIR ACCESS TO THESE FUNDS AND CAN LEAD TO WITHDRAWN HOMEOWNER APPLICATIONS In the letter to the President, the 11 members of Congress discussed SIGTARP’s finding that those who are fortunate enough to obtain HHF assistance often face lengthy wait times before they actually receive that assistance, delays that other homeowners may not be able to withstand, which cuts against fair access. As SIGTARP reported in October 2015, unemployed homeowners in 15 of the 19 participating HHF states had to wait longer than a median of 3 months to get unemployment assistance from HHF. For some, the delay was much worse. SIGTARP reported that for 15 of the 77 active HHF programs, homeowners had to wait a median of more than 6 months to get help. In more than half of all HHF programs, homeowners had to wait a median of 4 months or longer to receive help. Homeowners applying for help from 45 of the 77 HHF programs had to wait a median of at least 3 months to access HHF dollars.14 Homeowners In Each of the States the 11 Congressmen Represent Have Faced Lengthy Delays in Obtaining HHF Dollars • Lengthy delays in HHF Ohio: SIGTARP reported in October 2015, that homeowners in Ohio have suffered some of the longest delays in gaining access to HHF assistance. Unemployed homeowners in Ohio waited more than a median of 6 months to gain access to HHF unemployment assistance. According to Treasury’s data, homeowners in Ohio who sought transition assistance when they give up their homes waited a full year to gain access to HHF funds. Ohio homeowners who applied for HHF help with past-due mortgage payments waited almost 9 months to gain access to HHF funds. Homeowners in Ohio who applied for HHF mortgage modification assistance had to wait more than 7-8 months to gain access to HHF funds.iv • Lengthy delays in HHF Florida: SIGTARP also reported in October 2015 that Florida homeowners had to wait a median of more than 7 months to gain access to HHF funds to help make past-due payments on their mortgage. SIGTARP also raised concerns that senior citizens in Florida with reverse mortgages had to wait more than 6 months to gain access to HHF funds. SIGTARP raised in its October report that unemployed Florida homeowners who sought HHF unemployment assistance had to wait a median of more than 5 ½ months iv Ohio’s HHF programs for homeowners have been closed to new applicants since 2014, due to fully committing funds previously allocated to those programs. 91 92 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM • • • • • to gain access to HHF. It took more than 5 months to gain access to HHF principal reduction assistance in Florida. Lengthy delays in HHF Georgia: SIGTARP reported in October 2015 that it took a median of more than 5 months for unemployed Georgia homeowners to gain access to HHF funds, and a median of more than 6 months to access HHF mortgage reinstatement assistance. Georgia homeowners faced nearly 5 months to gain access to HHF mortgage modification assistance. It took the 18 Georgia homeowners helped in HHF Georgia’s mortgage modification program since it began in 2013 a median of nearly 5 months to gain access to HHF funds. HHF Georgia reported to Treasury that the 5 homeowners who got HHF help from that program in the quarter ended March 31, 2015 had waited a median of more than one year to gain access to that HHF assistance. Lengthy delays in HHF Nevada: As SIGTARP previously reported, despite having some of the highest levels of unemployment and underemployment in the nation, it took a median of more than 4 months for a Nevada unemployed/ underemployed homeowner to gain access to HHF funds to assist with their mortgage payment or to reduce principal. Lengthy delays in HHF Michigan: As SIGTARP previously reported, it took more than a median of 6 months for a Michigan homeowner to gain access to HHF mortgage modification assistance, nearly 5 months for a Michigan homeowner to gain access to HHF loan rescue assistance and more than a median of three months for an unemployed Michigan homeowner to gain access to HHF assistance with their mortgage. Lengthy delays in HHF California: As SIGTARP previously reported, it took more than a median of 3 months for California homeowners with reverse mortgages (a problem for many senior citizens) to gain access to HHF assistance. Lengthy delays in HHF Alabama: As SIGTARP previously reported, it took more than a median of 3 ½ months for an Alabama homeowner to receive HHF mortgage modification assistance.15 Despite SIGTARP raising concerns over these delays in October 2015, that serve to limit fair access to HHF funds depending on the state where the homeowner resides, the situation has already worsened for some homeowners. In the most recent quarter it typically took about 181 days for Florida’s unemployed homeowners to get help though the HHF Unemployment Mortgage Assistance Program, and 360 days for the Florida’s seniors to obtain HHF assistance through the Elderly Mortgage Assistance Program. Homeowners in Georgia seeking help with past due balances typically had to wait about 200 days to get help though the HHF Mortgage Reinstatement Program, while South Carolina homeowners seeking similar assistance through the HHF Direct Loan Assistance Program typically had to wait 176 days. Each of these program’s delays have gotten worse since SIGTARP previously reported on these delays in its October 2015 Quarterly Report.16 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 There Are More Than 160,000 Homeowners Whose Applications to the Hardest Hit Fund Have Been Withdrawn When an unemployed or underemployed homeowner is struggling to keep their home, lengthy and frustrating delays in getting the state agency to decide on their HHF application could serve to limit fair access because unemployed and underemployed homeowners may have no choice but to withdraw their applications and seek help elsewhere or because the person loses their home. Excessively complex application processes, overly burdensome document requirements and ineffective communication by a state agency with a homeowner can also lead to the state agency withdrawing a homeowner’s application because the application is deemed incomplete. Withdrawn homeowner applications are a major obstacle for the Hardest Hit Fund, with more than 160,000 homeowners with withdrawn applications. Certain state agencies have higher percentages of withdrawn applications, which can be evidence of limiting fair access among participating HHF states.17,v As with the other measures of HHF success, the 11 members of Congress who authored the letter are rightfully concerned, as most of the seven states these members represent are ranked with low performance compared to a nationwide average of 28% of withdrawn homeowner applications.18 FIGURE 3.2 WITHDRAWN HOMEOWNER APPLICATION RATE BY HHF STATE 100% 90% 80% 70% 64% 60% 51% 50% 42% 40% 40% 28% 30% 28% National Average: 28% 20% 20% 20% 15% 13% 10% 11% 11% 10% 9% 7% 7% 6% 3% 1% v Treasury does not require state agencies implementing HHF to report on how many homeowners voluntarily withdrew their HHF application versus those that had their application involuntarily withdrawn by the state agency that determines that a homeowner’s application is incomplete. Such reporting could provide greater insight on limiting fair access to HHF among states. sey Jer Col tric t of Source: Treasury, “HFA Aggregate Quarterly Report Q1 2016,” no date www.treasury.gov/initiatives/financial-stability/reports/Documents/HFA%20Aggregate%20Q12016%20 Report.pdf, accessed 7/7/2016. New um bia ona Ariz Dis nd ee Isla de Rho ess Ten n pi ssip a Withdrawn Homeowner Application Rate Mis si ian Ind ky tuc Ken is Illin o aro lina o Ohi an hig Mic th C Nor Sou t hC aro lina nia ifor Cal rgia Geo ada Nev rida Flo gon Ore Ala bam a 0% 93 94 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM On this metric, fair access to HHF funds appears to be the most restricted in Alabama where 64% of all homeowners that applied for HHF have withdrawn applications. That is the lowest performance of any state agency in terms of withdrawn applications, and evidences a root cause that Treasury should dig deeper into. Fair access to HHF also appears to be restricted in Florida and Nevada where 42% and 40% of all homeowners (respectively) who applied for HHF had their applications withdrawn.19 SIGTARP has issued several recommendations to Treasury to curb high numbers of withdrawn homeowner applications and provide fair access, including:20 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. SIGTARP also made several recommendations in an audit report focused on HHF Florida that Treasury work with HHF Florida to reduce lengthy wait times for specific HHF programs. More generally, SIGTARP recommended that:21 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. Treasury has not implemented these recommendations. As a result, high percentages of withdrawn homeowner applications continue to be a large concern with state agencies administering HHF, particularly in Alabama, Florida and Georgia, which appears to restrict fair access to HHF. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 ELEVEN MEMBERS OF CONGRESS SEE A PRESENT NEED FOR THE HARDEST HIT FUND FOR HOMEOWNERS IN THEIR DISTRICTS, AND PUBLIC DATA SUPPORTS THAT PRESENT NEED, WHILE STATE AGENCIES CONTINUE TO HAVE LOW PERFORMANCE IN HHF As a group, the 19 HHF states continue to be hard hit.vi The 11 Congressmen wrote to the President, “One million homeowners are currently at risk of foreclosure, and over three million homeowners hold a mortgage that exceeds the value of their home.” According to CoreLogic, those states participating in HHF account for about two-thirds of foreclosure sales over the past 12 months and more than two-thirds of underwater mortgages.22 Several HHF states still lag the country in recovery from the financial crisis, including states represented by the 11 Congressmen. As of March 31, 2016, six years into the program, Alabama had only used 29% of its available HHF funds, while Florida (58%), Georgia (46%), and Nevada (53%) have also used roughly half of their available funds to help struggling homeowners.23 Unused and sitting at Treasury, these dollars are not helping unemployed, underemployed and underwater homeowners avoid foreclosure. While these Federal dollars sit unused: Critical Need for Fair Access to HHF by Florida Homeowners There is a present and critical need for homeowners in Florida to have fair access to HHF funds. In Florida, 68,605 homeowners lost their home to foreclosure over the past year, another 122,987 are at least 90 days behind on their mortgage and risk losing their home to foreclosure, and 595,369 are in “underwater mortgages”. Despite this great need, fair access to HHF over the past year appears to be restricted with only another 3,188 homeowners in Florida gaining access to HHF funds.24 Critical Need for Fair Access to HHF by Michigan Homeowners There is a present and critical need for homeowners in Michigan to have fair access to HHF funds. In Michigan 43,444 homeowners lost their home to foreclosure over the past year, another 25,558 are at least 90 days behind on their mortgage and risk losing their home to foreclosure, and 153,812 are in “underwater mortgages”. Despite this great need, fair access to HHF over the past year appears to be restricted with only another 5,109 homeowners in Michigan gaining access to HHF funds.25 vi The 19 participating states include Alabama, Arizona, California, District of Columbia, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Mississippi, Nevada, New Jersey, North Carolina, Ohio, Oregon, Rhode Island, South Carolina, and Tennessee. 95 96 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Critical Need for Fair Access to HHF by Ohio Homeowners There is a present and critical need for homeowners in Ohio to have fair access to HHF funds. In Ohio 23,692 homeowners lost their home to foreclosure over the past year, another 47,376 are at least 90 days behind on their mortgage and risk losing their home to foreclosure, and 267,305 are in “underwater mortgages”. Despite this great need, fair access to HHF over the past year appears to be restricted with only another 48 homeowners in Ohio gaining access to HHF funds.26 Critical Need for Fair Access to HHF by California Homeowners There is a present and critical need for homeowners in California to have fair access to HHF funds. In California 22,853 homeowners lost their home to foreclosure over the past year, another 76,470 are at least 90 days behind on their mortgage and risk losing their home to foreclosure, and 398,482 are in “underwater mortgages”. Despite this great need, fair access to HHF over the past year appears to be restricted with only another 9,984 homeowners in California gaining access to HHF funds.27 Critical Need for Fair Access to HHF by Georgia Homeowners There is a present and critical need for homeowners in Georgia to have fair access to HHF funds. In Georgia 22,551 homeowners lost their home to foreclosure over the past year, another 40,518 are at least 90 days behind on their mortgage and risk losing their home to foreclosure, and 152,488 are in “underwater mortgages”. Despite this great need, fair access to HHF over the past year appears to be restricted with only another 1,569 homeowners in Georgia gaining access to HHF funds.28 Critical Need for Fair Access to HHF by Alabama Homeowners There is a present and critical need for homeowners in Alabama to have fair access to HHF funds. In Alabama 8,380 homeowners lost their home to foreclosure over the past year, another 17,902 are at least 90 days behind on their mortgage and risk losing their home to foreclosure, and 30,931 are in “underwater mortgages”. Despite this great need, fair access to HHF over the past year appears to be restricted with only another 650 homeowners in Alabama gaining access to HHF funds.29 Critical Need for Fair Access to HHF by Nevada Homeowners There is a present and critical need for homeowners in Nevada to have fair access to HHF funds. In Nevada 6,289 homeowners lost their home to foreclosure over the past year, another 15,984 are at least 90 days behind on their mortgage and risk losing their home to foreclosure, and 95,224 are in “underwater mortgages”. Despite this great need, fair access to HHF over the past year appears to be restricted with only another 100 homeowners in Nevada gaining access to HHF funds.30 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 The 11 Members of Congress Who Wrote to the President Were Right to Voice Their Concern Many of the homeowners in their districts are still not seeing the help promised by HHF and do not have the same chance of receiving HHF funds as homeowners in other HHF states. Fair access to HHF funds is restricted when state agencies continue to have low performance in HHF despite the fact that homeowners in that state continue to suffer from problems that marked the crisis. Homeowners in Certain HHF States with Low Performing State Agencies Continue to Suffer High Unemployment HHF is primarily an unemployment assistance program. While some of the nation has seen growth in jobs, higher unemployment continues in some states. Unemployment plays a significant role in a homeowner’s ability to make their monthly mortgage payment and keep their home. Unemployment is a common hardship cited by struggling homeowners when applying for mortgage assistance. While most HHF states still struggle with higher unemployment than the rest of the country, it is much worse in certain counties in these states. For example, as shown in figures 3.3 and 3.4 below, Dallas County, Alabama, and Lake County, California, both continue to struggle with high unemployment and its consequences. FIGURE 3.3 DALLAS COUNTY, AL (PART OF THE 7TH CONGRESSIONAL DISTRICT) In Dallas County, which comprises part of the 7th Congressional District of Alabama: • he unemployment rate of 9% is almost twice the national average of 5.0%. T • ,404 people are unemployed, but only 2 people were approved for HHF 1 assistance over the past year. HHF Alabama’s application withdrawal rate (64%) is the highest of any state. Source: SIGTARP analysis of CoreLogic data; Treasury, “Housing Finance Agency Aggregate Report - Q1 2016”, www.treasury.gov/initiatives/financial-stability/reports/ Documents/HFA%20Aggregate%20Q12016%20Report.pdf, accessed 7/7/2016. 97 98 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 3.4 LAKE COUNTY, CA (PART OF WHICH IS WITHIN THE 5TH CONGRESSIONAL DISTRICT) In Lake County, part of which is within the 5th Congressional District of California: • he unemployment rate of 7.3% is significantly higher than the national T average of 5.0%. • ,117 people in the county are unemployed, but only 10 people received HHF 2 assistance over the past year. • ,895 homeowners in the county lost their home to foreclosure since the 2 start of HHF, during that time only 101 homeowners were approved for HHF assistance. Roughly three out of every five homeowners that applied for HHF in California did not receive assistance. Source: SIGTARP analysis of CoreLogic data; Treasury, “Housing Finance Agency Aggregate Report - Q1 2016”, www.treasury.gov/initiatives/financial-stability/reports/ Documents/HFA%20Aggregate%20Q12016%20Report.pdf, accessed 7/7/2016. Given the fact that the Hardest Hit Fund is a program largely targeting unemployed homeowners, where Treasury selected states to participate based on higher than average unemployment, effective HHF unemployment assistant programs that also provide unemployed homeowners in every participating state the same chance of HHF funds are critical to helping homeowners in high-unemployment areas avoid foreclosure. Currently 16 of the 25 states with the worst unemployment rates are HHF states, including 5 of the worst 10: DC (6.5%), IL (6.5%), MS (6.3%), AL (6.2%), and NV (5.8%). Unemployment is much worse in some parts of these states.31 Homeowners in Certain HHF States with Low Performing State Agencies Continue to Suffer High Underemployment Underemployment is another common hardship cited by homeowners seeking HHF assistance.32 It can be extremely hard for a homeowner whose income has been curtailed through underemployment to keep current on their mortgage. This problem becomes even greater when combined with an underwater home. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 3.5 CLARK COUNTY, NV (PART OF WHICH IS WITHIN THE 1ST CONGRESSIONAL DISTRICT) In Clark County, part of which is in the 1st Congressional District of Nevada: • 9,787 homeowners owe more than their home is worth. 7 • 2,846 homeowners have mortgages that are more than 90 days past due, 1 and 4,881 homeowners are in the process of losing their home to foreclosure. • ,823 homeowners have lost their homes to foreclosure in the last year, 4 compared to just 79 homeowners that were approved for HHF assistance during that period. • 2,539 people are unemployed. 6 HHF Nevada’s admission rate (37%) is among the worst in the country. Despite the state’s unemployment rate (5.8%) being one of the highest in the nation, only 9 homeowners in the entire state were awarded HHF unemployment assistance last quarter. Source: SIGTARP analysis of CoreLogic data; Treasury, “Housing Finance Agency Aggregate Report - Q1 2016”, www.treasury.gov/initiatives/financial-stability/reports/ Documents/HFA%20Aggregate%20Q12016%20Report.pdf, accessed 7/7/2016; Treasury, Hardest Hit Fund State-By-State Information website, most recent HHF Quarterly Performance Reports, 3/31/2016, www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/Pages/Program-Documents.aspx, accessed 7/7/2016. Nevada has one of the highest rates of underemployment in the nation and high numbers of underwater homes, but the state agency in HHF has been a very low performer year after year, with performance that worsened in the last year. Homeowners in Certain HHF States with Low Performing State Agencies Continue to Suffer High Numbers of Underwater Homes While some states are seeing an increase in home values, many homeowners in HHF states are still struggling owning homes that are worth less than the amount they owe on them. Some counties in HHF states are seeing less of an increase in property values and homeowners continue to struggle with owing more than their home is worth. For example, as shown in figures 3.5 and 3.6, Clark County, Nevada and Lorain County, Ohio, are two areas where homeowners continue to struggle with owing more than their home is worth. 99 100 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 3.6 LORAIN COUNTY, OH (PART OF WHICH IS WITHIN THE 9TH CONGRESSIONAL DISTRICT) In Lorain County, part of which is within the 9th Congressional District of Ohio: • 0,683 homeowners in the county owe more than their homes are worth. 1 • ,492 homeowners have mortgages that are 90 days or more delinquent, 1 while 611 are currently in the process of losing their home to foreclosure. • 84 homeowners lost their home to foreclosure over the past year, while only 4 2 homeowners were approved for HHF assistance during that time. • lthough many Ohio homeowners are in need of assistance, HHF Ohio has A approved very few homeowners for assistance over the past year. Source: SIGTARP analysis of CoreLogic data; Treasury, “Housing Finance Agency Aggregate Report - Q1 2016”, www.treasury.gov/initiatives/financial-stability/reports/ Documents/HFA%20Aggregate%20Q12016%20Report.pdf, accessed 7/7/2016. FIGURE 3.7 WAYNE COUNTY, MI (PARTS OF WHICH ARE WITHIN THE 13TH AND 14TH CONGRESSIONAL DISTRICTS) In Wayne County, parts of which are within the 13th and 14th Congressional District of Michigan: • he unemployment rate of 6.4% is higher than the national average of 5.0%, T and 49,345 people are unemployed. • 0,082 homeowners in the county owe more than their homes are worth. 4 • 59,327 homeowners lost their homes to foreclosure since the start of HHF. 1 • 9,514 homeowners lost their homes to foreclosure over the past year, while 2 just 1,781 were approved for HHF assistance during that period. • he number of homeowners HHF Michigan approved for assistance over the T past year is a very small fraction of those struggling with unemployment, past due mortgage balances, and negative equity. Source: SIGTARP analysis of CoreLogic data; Treasury, “Housing Finance Agency Aggregate Report - Q1 2016”, www.treasury.gov/initiatives/financial-stability/reports/ Documents/HFA%20Aggregate%20Q12016%20Report.pdf, accessed 7/7/2016. Owing more than a home is worth makes it difficult for some homeowners to sell their homes or refinance into a more favorable mortgage when a homeowner is struggling with their current mortgage. Eventually a homeowner may walk away from the home. HHF programs that help mitigate some of the problems faced by homeowners who owe more than their home is worth are imperative to helping homeowners in some of the hardest hit states recover, but only if those homeowners have the same chance at receiving HHF funds as homeowners in other states. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Homeowners in Certain HHF States with Low Performing State Agencies Continue to Suffer Higher Rates of Foreclosure Although unemployment rates and home values have improved significantly from crisis levels, homeowners in some areas continue to struggle to make their monthly mortgage payments. As a result many still end up in foreclosure. According to CoreLogic, approximately 1.1% of all mortgages are in foreclosure in the United States. In Florida, which has a low performing state agency in HHF, that rate is almost double. As discussed in Figures 3.8 to 3.11, areas such as Orange and Alachua Counties in Florida and DeKalb and Fulton Counties in Georgia remain overburdened with excessive foreclosures, but have low performance by their state agency. FIGURE 3.8 ORANGE COUNTY, FL (PARTS OF WHICH ARE WITHIN THE 5TH AND 9TH CONGRESSIONAL DISTRICTS) In Orange County, parts of which are within the 5th and 9th Congressional Districts of Florida: • ,662 homeowners have mortgages that are 90 days or more delinquent. 7 • 2,400 homeowners in the county owe more than their homes are worth. 4 • ,992 homeowners have lost their home to foreclosure during the past year, 3 but during that time only 229 were approved for HHF assistance. HHF Florida’s admission rate (21%) is the lowest in the nation. Source: SIGTARP analysis of CoreLogic data; Treasury, “Housing Finance Agency Aggregate Report - Q1 2016”, www.treasury.gov/initiatives/financial-stability/reports/ Documents/HFA%20Aggregate%20Q12016%20Report.pdf, accessed 7/7/2016. FIGURE 3.9 ALACHUA COUNTY, FL (PART OF THE 5TH CONGRESSIONAL DISTRICT) In Alachua County, which comprises part of the 5th Congressional District of Florida: • 73 homeowners have mortgages that are 90 days or more delinquent, while 9 455 are currently in the process of losing their home to foreclosure. • ,517 homeowners in the county owe more than their homes are worth. 3 • 57 homeowners lost their home to foreclosure over the past year, compared 5 to just 23 who were approved for HHF assistance during that period. HHF Florida’s admission rate (21%) is the lowest in the nation. Source: SIGTARP analysis of CoreLogic data; Treasury, “Housing Finance Agency Aggregate Report - Q1 2016”, www.treasury.gov/initiatives/financial-stability/reports/ Documents/HFA%20Aggregate%20Q12016%20Report.pdf, accessed 7/7/2016. 101 102 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 3.10 DEKALB COUNTY, GA (PARTS OF WHICH ARE WITHIN THE 4TH AND 5TH CONGRESSIONAL DISTRICTS) In DeKalb County, parts of which are within the 4th and 5th District of Georgia: • ,302 homeowners are at least 90 days behind on their mortgage 4 • 9,254 homeowners owe more than their home is worth. 1 • 6,229 homeowners have lost their home to foreclosure since HHF began, 2 compared to 1,189 who were approved for HHF assistance during that time. HHF Georgia’s admission rate (30%) is among the lowest in the country. Source: SIGTARP analysis of CoreLogic data; Treasury, “Housing Finance Agency Aggregate Report - Q1 2016”, www.treasury.gov/initiatives/financial-stability/reports/ Documents/HFA%20Aggregate%20Q12016%20Report.pdf, accessed 7/7/2016. FIGURE 3.11 FULTON COUNTY, GA (PARTS OF WHICH ARE WITHIN THE 5TH AND 13TH CONGRESSIONAL DISTRICTS) In Fulton County, parts of which are within the 5th and 13th Congressional Disctricts of Georgia: • ,952 homeowners are at least 90 days behind on their mortgage. 3 • 7,422 homeowners owe more than their home is worth. 2 • 7,720 homeowners have lost their home to foreclosure since HHF began, 2 compared to 1,057 that were approved for HHF assistance during that time. HHF Georgia’s admission rate (30%) is among the lowest in the country. Source: SIGTARP analysis of CoreLogic data; Treasury, “Housing Finance Agency Aggregate Report - Q1 2016”, www.treasury.gov/initiatives/financial-stability/reports/ Documents/HFA%20Aggregate%20Q12016%20Report.pdf, accessed 7/7/2016. As shown above, there are homeowners in these HHF states that remain particularly burdened with excessive foreclosures, which has a wide range of social and economic consequences, such as the uprooting of families from their communities, loss of ancestral homes, and declining neighboring home values. However, despite these burdens, homeowners in these areas have a harder time gaining access to HHF funds than homeowners in other states due to the low performance of the state agency. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 A WAY FORWARD If Treasury brings immediate accountability to low performing state agencies in HHF, homeowners in those states can have fair access to HHF. The concerns raised by these members of Congress of a lack of fair access to HHF funds should serve as a wake-up call that the Hardest Hit Fund must be a program where every homeowner has the same chance, regardless of where they live and how effective the state agency is who Treasury’s chooses to enter into a contract.33 There are still many unemployed, underemployed, and underwater homeowners across the country that are entitled to as much of a chance to HHF funds as homeowners in states where HHF has been more effective. These are the homeowners the Hardest Hit Fund intended to reach. In most of the communities represented by the 11 members of Congress who wrote the President as well as others, more can be done by Treasury to ensure fair access by homeowners to unused Hardest Hit Fund dollars. However, that requires Treasury to bring the accountability promised by the White House to low performing state agencies. Homeowners are without the luxury of time for Treasury to wait to see if a state agency can use its flexibility to improve low performance over upcoming years. The sense of urgency for these funds felt by homeowners who have faced difficulty in receiving this assistance has not been matched by the strict Treasury oversight and accountability promised by the White House. These Congressmen told the President, “The media may have forgotten about these homeowners, but we will not…“ SIGTARP has not, and will not, forget these homeowners. We serve to voice their need for an effective and fair TARP program. We again urge Treasury to work with us to fulfill its responsibility to ensure that every homeowner has fair access to Hardest Hit Funds. No homeowner should be disadvantaged by the ineffectiveness of the state agency they must go through to gain access to Hardest Hit funds. 103 104 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 105 106 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM SECT IO N 4 TARP OVERVIEW 108 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 TARP continues until at least 2023, but it looks different now than it did at the height of the crisis.34 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.35 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.”36 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 remains a significant size. A $38 billion Federal program is bigger than many Federal programs. Putting the $38 billion in ongoing TARP programs in perspective … • That’s just under total contract amounts to operate the International Space Station ($39 billion)37 • That’s slightly less than the Highway Trust fund is estimated to take in annual revenue ($39 billion)38 • That’s more money than spent annually in the Pell Grant program ($28.3 billion)39 • That’s almost 5 times the amount of money proposed to cleanup damage from the Deepwater Horizon oil spill ($8 billion)40 • That’s almost 9 times the annual amount to run NASA’s Exploration Program including programs like the Mars Rover mission ($4.5 billion)41 • 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)42 • That’s almost 16 times the amount of annual funds to run our National Parks System ($2.4 billion)43 Federal programs of this magnitude require significant Federal oversight. i TARP has taken total losses or write-offs of $35.2 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. 109 110 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 55 banks/credit unions $420 million CPP Until bank repayment or Treasury sale of stock in 13 banks + Treasury sale of warrants in 10 banks $234 million ($224 million TARP investment + $9.8 million warrants) $38.2 billion Sources: Treasury, Transactions Report, 7/5/2016; Treasury, Monthly TARP Update, 7/1/2016. Treasury, responses to SIGTARP data calls, 7/5/2016 and 7/11/2016. 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 $654 million in 13 small banks that continue in CPP (+warrants in 10 banks) and 55 small banks/credit unions in TARP’s CDCI program remains to be seen.44 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.45 TARP Housing 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.46 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 in a manner that, among other things, “protects home values” and “preserves homeownership.”47 SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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.48 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 ($21.4 billion of $37.5 billion) have been spent over the last seven years, leaving $16.1 billion in TARP available to be spent.49 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 — With a homeowner application deadline of December 31, 2016, and only 1.6 million homeowners receiving permanent modifications, TARP’s signature foreclosure prevention program, HAMP, has fallen well short of the 3 to 4 million homeowners envisioned for it.50 In HAMP, mortgage servicers modify mortgages in default or at risk of default into affordable and sustainable payments. The biggest concern SIGTARP as raised is the fact that more than 500,000 homeowners have already fallen out of the program. Additionally, over 4 million homeowners who applied were denied a HAMP mortgage modification.51 Non-bank mortgage servicers who have less regulation than bank servicers now administer more than half (59%) of all loans modified under HAMP.52 Given the past track record of the largest non-bank mortgage servicers the risk to homeowners is elevated, as is the need for strong oversight. 111 112 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.2 CUMULATIVE HAMP MODIFICATION ACTIVITY, AS OF 6/30/2016 Permanent Modifications Started Permanents Redefaulted Permanents Paid Offa Permanents Active HAMP Tier 1 - TARP 787,402 284,094 35,099 468,209 HAMP Tier 1 - GSE 653,893 219,248 68,340 366,305 HAMP Tier 1 1,441,295 503,342 103,439 834,514 HAMP Tier 2 172,630 35,503 2,560 134,567 1,613,925 538,845 105,999 969,081 Total a Includes 6,216 permanent HAMP modifications classified as withdrawn. Source: HAMP 1MP: Program Volumes – Program Type and Payor by Tier - June 2016, accessed 7/20/2016. 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.53 Without Federal oversight, homeowners and the program itself would be unprotected. • 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 — 73.6% 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 March 31, 2016, 256,361 SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 individual homeowners have received TARP assistance through HHF.54 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.55 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.56 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.57 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 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 307 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 113 114 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 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.58 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 $38 billion program, particularly one that put the day-to-day decision making in the hands of non-Federal entities, there would be a cry for significant Federal oversight. SIGTARP will continue on watch, preventing fraud, waste, and abuse, enforcing the law when fraud seeps in, and giving insight to obstacles and ways to improve. SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 115 TABLE 4.3 TARP LOSSES AND REMAINING AVAILABLE FUNDS, AS OF 6/30/2016 TARP Program Institution ($ MILLIONS) Total TARP Investment 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 $1,847a,b Sales and exchanges 29 CPP Banks in Bankruptcy 200 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 $5,096 $67,835 Total Realized Loss, Write-Offs $13,485 SSFI $13,485a AIGd Total Investment Total Realized Loss Total TARP Investment $29,336 $350,439 Total Write-Offs Sale of TARP common stock at a loss $5,812 Total Realized Loss, Write-Offs $35,149 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, 7/5/2016; Treasury, Monthly Report to Congress, June 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 7/1/2016; 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, and 7/1/2016. 116 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM HOUSING PROGRAMS During the past quarter 23,873 homeowners started new HAMP modifications (compared to 24,329 the prior quarter), broken down as follows: 9,842 homeowners converted from trial to permanent modifications in Tier 1 and 14,031 under Tier 2. TABLE 4.4 CUMULATIVE HAMP TRIAL MODIFICATION ACTIVITY, AS OF 6/30/2016 Trials Started HAMP Tier 1 - TARP HAMP Tier 1 - GSE Trials Cancelled Trials Active Trials Converted to Permanent 1,139,242 343,070 8,770 787,402 1,078,719 421,865 2,961 653,893 HAMP Tier 1 2,217,961 764,935 11,731 1,441,295 HAMP Tier 2 201,955 14,337 14,988 172,630 2,419,916 779,272 26,719 1,613,925 Total Source: HAMP 1MP: Program Volumes – Program Type and Payor by Tier - June 2016, accessed 7/20/2016. Only about half ($21.4 billion) of the $37.5 billion in TARP funds available for housing have been spent through June 30, 2016, of which $0.9 billion was spent in the most recent quarter.59 As shown in Figure 4.1, $14.8 billion was paid to 76 servicers through MHA. Of the $14.8 billion in total incentives paid to all servicers, 25% went to homeowners, 53% went to investors, and the remaining 22% went to the servicers. As of June 30, 2016, state housing finance agencies had drawn down $6.6 billion (68% of the $9.6 allocated funds) through HHF.60,i There is an additional $125 million allocation for the FHA Short Refinance program, $21 million of which has been spent. Figure 4.1 shows expenditures and allocations for MHA and HHF. i Housing Finance Agencies are state government entities that design and administer each state’s HHF programs. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 4.1 TARP HOUSING PROGRAM ALLOCATIONS AND SPENDING, AS OF 6/30/2016 ($ BILLIONS) MHA $27.8 billion 53% spent 67% spent ($6.4 billion) ($14.8 billion) 68% spent ($6.6 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: 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 March 31, 2016, of the $6.4 billion drawn down by the states, only $4.8 billion (50%) has been spent helping 256,361 homeowners. b Allocation includes up to $25 million in fees Treasury will incur for the availability and usage of the $100 million letter of credit. $20.6 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 $10.6 million in administrative expenses. Sources: Treasury, responses to SIGTARP data calls, 1/5/2012, 7/5/2016 and 7/21/2016; Treasury, Transactions Report-Housing Programs, 6/28/2016; Treasury, Monthly TARP Update, 7/1/2016. Through June 30, 2016, servicers have received 22% of all TARP incentive payments ($3.3 billion), investors have received 53% ($7.8 billion), and homeowners have received 25% ($3.7 billion). Counting only HAMP incentive payments, servicers have received 21% ($2.6 billion), investors 55% ($6.8 billion), and homeowners 23% ($2.9 billion). For just HAMP Tier 1 incentives alone (excluding PRA and HPDP), Treasury has paid $9.3 billion, $4.0 billion to investors, $2.4 billion to servicers, and $2.9 billion to homeowners (that go to the servicer to pay down the homeowners principal balance).61,ii The nature of these incentives is as follows: • Servicer Incentives – 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 – Up to $1,500 in one-time incentives for agreeing to modify mortgages 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 ii Figures include $365 million in TARP funded homeowner incentive payments on GSE backed HAMP modifications. 117 118 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 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, up to $1,000 - if the homeowner makes their payments on time - for up to five years for homeowners in HAMP (Tier 1 only) and three years under FHA and RD HAMP. In year 6, homeowners in these programs, as well as those in HAMP Tier 2, receive a $5,000 in principal reduction. Homeowners in HAMP 2MP may receive up to $250 annually for up to five years, and homeowners participating in HAFA may receive $10,000 in relocation assistance. Table 4.5 shows TARP payments to the top ten servicers (in terms of total MHA payments received). TABLE 4.5 DOLLARS PAID TO 10 SERVICERS, AS OF 6/30/2016 ($ MILLIONS) Cap Available TARP Payments to Borrowers TARP Payments to Investors TARP Payments to Servicers Total TARP Payments $6,958.1 $759.5 $2,171.4 $728.7 $3,659.6 JPMorgan Chase Bank, NA 3,978.9 587.4 1,396.8 527.3 2,511.5 Wells Fargo Bank, N.A. 4,503.6 645.2 1,238.4 547.8 2,431.4 Bank of America, N.A. 3,212.5 516.4 897.0 470.3 1,883.8 Nationstar Mortgage LLC 2,174.5 274.8 463.7 192.4 930.9 Select Portfolio Servicing, Inc. 1,979.4 271.2 420.4 217.4 909.0 CitiMortgage Inc 957.2 143.5 358.1 141.6 643.2 CIT Bank, N.A. 611.6 73.1 240.6 91.2 404.9 Bayview Loan Servicing LLC 532.3 65.2 110.5 42.2 218.0 Ditech Financial LLC 561.8 99.7 62.8 22.9 185.3 Other Servicers 2,312.0 293.3 425.7 272.4 991.3 $27,781.9 $3,729.3 $7,785.4 $3,254.3 $14,769.0 Ocwen Loan Servicing, LLC Total Notes: Numbers may not total due to rounding. Source: Treasury, Transactions Report-Housing Programs, 6/28/2016. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 The four largest HAMP servicers (Ocwen Loan Servicing, LLC (“Ocwen”); JPMorgan Chase Bank, NA; Wells Fargo Bank, N.A.; and Bank of America, N.A.) received 71% of all incentives paid out. Ocwen received $3,659.6 million in total incentive payments, the most of any servicer. Only 21% of the incentives paid to Ocwen 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. HAMP To obtain HAMP, homeowners participate in a trial period, and if they make three modified mortgage payments on time, 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.62 According to Treasury’s official HAMP database, 6,046,951 homeowners applied for HAMP between December 2009 and May 2016, the latest data available. As Figure 4.2 shows, 4,179,839 homeowners, or 69% of those who applied, were turned down by their servicers. Another 397,514 fell out during the trial period, and another 412,198 redefaulted after they received a permanent HAMP modification. 119 120 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.2 HOMEOWNERS APPLYING FOR HAMP, AS OF MAY 2016 6,046,951 Homeowners Applied for HAMP 1,867,112 Homeowners Were Offered HAMP Trial Modifications 1,411,485 Homeowners Obtained HAMP Permanent Modifications 928,785 Homeowners Remain in HAMP Denied Homeowner Applications (4,179,839 homeowners) Fell out during trial period (397,514 homeowners) Redefaulted and fell out of HAMP (412,198) Note: Excludes denials and trial starts prior to December 2009, because Treasury did not require servicers to report HAMP denials until that date. Sources: Treasury, “HAMP 1MP: Trial Fallout and Denials - Vintage & Reason,” May 2016, accessed 7/13/2016; Treasury HAMP data. QUARTERLY REPORT TO CONGRESS I JULY 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: A homeowners mortgage has to be before January 1, 2009; with an outstanding balance not to exceed $729,750 (more for qualifying multi-unit properties); and not a condemned property.63 Servicers try to reduce the monthly mortgage payment to less than 31% of the homeowner’s monthly income by: 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.64 Then the modification must pass the NPV test, and if it passes the homeowner must be offered a HAMP Tier 1 Trial Period Plan.iii If not, the homeowner must be evaluated for HAMP Tier 2.65 Effective January 1, 2016, some delinquent homeowners may be able to access Streamline HAMP, which has fewer eligibility restrictions and less paperwork. Homeowners Face a Backlog, Which Delays a Decision on Their HAMP Application SIGTARP has raised concerns over lengthy delays that homeowners face 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 Treasury’s most recent data, HAMP servicers received 41,447 requests for HAMP in May 2016, but only processed 40,742 applications in that month (705 fewer than received).66 So long as servicers receive more applications than they process each month, homeowners will face delays in getting a decision on their requests for HAMP assistance. Figure 4.3 shows the performance of the top HAMP servicers in May 2016 in reviewing the number of homeowner applications they received that month. 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. iii Servicers may use principal forgiveness (PRA or otherwise) to reduce the homeowner’s payment, at any point during the HAMP Tier 1 or HAMP Tier 2 Waterfall, but are not required to do so. 121 122 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 (MAY 2016) Processed More Than Number of Applications Received 2,000 1,500 1,520 1,000 479 500 202 120 68 0 Processed Fewer Than Number of Applications Received (260) (299) -500 (387) 370 -1,000 -1,500 -2,000 (2,215) -2,500 Ocwen Loan Servicing, LLC Wells Fargo Bank, NA Nationstar Mortgage LLC Bank of America, NA Select Portfolio Servicing, Inc. JPMorgan Chase Bank, NA Specialized Loan Servicing LLC Ditech Financial LLC Bayview Loan Servicing, LLC U.S. Bank National Association Source: Treasury, HAMP Application Activity by Servicer, as of May 2016", www.treasury.gov/initiatives/financialstability/reports/Documents/HAMP%20Application%20Activity%20by%20Servicer%20May%202016.pdf, accessed 7/5/2016. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Only five out of the 10 servicers who reported receiving the most applications in May 2016 — Ocwen Loan Servicing, LLC, Nationstar Mortgage LLC, JPMorgan Chase Bank, NA, Specialized Loan Servicing LLC, and Bayview Loan Servicing, LLC — succeeded in processing 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 Bank of America, NA was the worst, processing only 3,186 applications in the most recent month, 2,215 fewer than it received during the period. Treasury’s data shows 171,819 homeowners whose applications were not processed through May 2016, out of an aggregate of 9,355,534 applications the servicers had reported receiving. Despite occasional improvement over time, homeowners still face significant delays, however servicers continue to revise previously reported application data, making comparisons to prior periods difficult. TABLE 4.6 MONTHS TO PROCESS OUTSTANDING APPLICATIONS AT MOST RECENT RATE BY SERVICER, AS OF 5/31/2016 Servicer Name Applications Processed in May 2016 Backlog of Unprocessed Applicationsa Months to Process the Homeowners who have already appliedb CitiMortgage Inc 1,262 13,261 10.5 Bank of America, NA 3,186 29,080 9.1 Select Portfolio Servicing, Inc. 3,020 23,174 7.7 Ocwen Loan Servicing, LLC 9,742 47,487 4.9 JPMorgan Chase Bank, NA 3,634 17,492 4.8 Wells Fargo Bank, NA 6,133 21,771 3.5 Ditech Financial LLC 1,587 3,033 1.9 Bayview Loan Servicing, LLC 1,833 3,377 1.8 Specialized Loan Servicing LLC 2,301 3,638 1.6 Nationstar Mortgage LLC 5,592 5,758 1.0 Others 2,452 3,748 TOTAL 40,742 171,819 c Notes: a Program-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,” May 2016. As shown in table 4.6, there is clearly a backlog of homeowners who have applied for HAMP. This backlog causes delays in receiving an answer on whether they make it into HAMP. Homeowners may have to wait 10 months for CitiMortgage to make a decision, 9 months for Bank of America, and more than 7 months for Select Portfolio Servicing. Some may not have the luxury of time. 123 124 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 Servicers have denied 7 out of every 10 homeowners who have applied for HAMP. However, some servicers have denied more than that. Figure 4.4, shows the number of homeowners who were denied admission into the HAMP program, by seven top HAMP servicers. FIGURE 4.4 HOMEOWNERS DENIED ADMISSION INTO THE HAMP PROGRAM OF THOSE WHO APPLY, AS OF MAY 2016 1,200,000 185,564 347,417 482,201 1,000,000 181,718 800,000 294,171 600,000 400,000 204,684 47,007 200,000 124,350 0 349,425 990,539 690,926 765,456 438,571 232,524 106,297 606,101 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 (69% DENIAL RATE) WELLS FARGO BANK N.A.d (60% DENIAL RATE) NATIONSTAR MORTGAGE LLCe (53% DENIAL RATE) SELECT PORTFOLIO SERVICING, INC. (46% DENIAL RATE) OTHER SERVICERS (56% DENIAL RATE) Homeowners Turned Down for HAMP Homeowners Started a HAMP Trial Modification Notes: Excludes denials and trial starts prior to December 2009, because Treasury did not require servicers to report HAMP denials until that date. 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,” May 2016, accessed 7/13/2016; Treasury HAMP Data. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 CitiMortgage, Inc. denied 88% - nearly 9 out of 10 homeowners who applied, more than any other large servicer. JPMorgan Chase denied 84%of homeowners who applied for HAMP, and Bank of America denied 79%. Ocwen, the servicer with the largest number of HAMP modifications, has denied 69% 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 Lasting 6 Months, A Year, or More As of June 2016, 2,125 homeowners (18.1% of the 11,731 active HAMP Tier 1 trials) have been in lengthy trial modifications that have lasted at least six months and, of those, 1,127 (9.6% of active HAMP Tier 1 trials) have lasted at least a year.67 HAMP Mortgage 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. SIGTARP has reported on how 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. SIGTARP has also reported on Homeowners applying for HAMP were 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. Through May 2016, Treasury data shows that 274,666 homeowners in HAMP trial or permanent modifications saw their mortgages transferred. 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, but those rules were not always followed.68 According to Treasury data, through the life of HAMP, three firms—Ocwen, Select Portfolio Servicing, Inc., and Nationstar Mortgage, LLC—acquired the servicing for 184,782 HAMP loans, or 65% of those transferred. Ocwen, alone, acquired 117,227 loans (42%). As shown in Table 4.7, 21 of the largest 25 HAMP servicing transfers were transfers to non-banks. 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. 125 126 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.7 TOP 25 NON-GSE HAMP SERVICING TRANSFERS - PROGRAM TO DATE THROUGH 6/30/2016 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 - 2015 15,679 Bank of America, N.A. Select Portfolio Servicing, Inc. 2010 - 2016 11,711 Litton Loan Servicing, LP Ocwen Loan Servicing, LLC 2011 - 2013 11,592 JPMorgan Chase Bank, NA Ocwen Loan Servicing, LLC 2012 - 2013 10,950 Aurora Loan Services, LLC Nationstar Mortgage, LLC 2012 10,818 2013 - 2016 9,950 2010 5,969 JPMorgan Chase Bank, NA Select Portfolio Servicing, Inc. HomEqServicing Ocwen Loan Servicing, LLC Ocwen Loan Servicing, LLC Select Portfolio Servicing, Inc. 2014 - 2015 5,431 Bank of America, N.A. Specialized Loan Servicing, LLC 2010 - 2016 4,621 CitiMortgage, Inc. Select Portfolio Servicing, Inc. 2014 - 2016 3,972 CitiMortgage, Inc. Bayview Loan Servicing LLC 2012 - 2016 3,869 JPMorgan Chase Bank, NA Bayview Loan Servicing LLC 2012 - 2016 2,873 CitiMortgage, Inc. Rushmore Loan Management Services LLC 2012 - 2015 2,370 Bank of America, N.A. Bayview Loan Servicing LLC 2012 - 2016 2,027 Wells Fargo Bank, N.A. Bayview Loan Servicing LLC 2010 - 2016 1,985 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, NA 2011 7,343 Home Loan Services, Inc. Bank of America, National Association 2010 4,327 Specialized Loan Servicing, LLC Bank of America, National Association 2013 - 2016 2,246 Note: Includes non-GSE HAMP trial and permanent modifications transferred. Source: Treasury, HAMP Servicing Transfer data QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 These transfers changed how HAMP looks. In the first 2 years of the program, large bank servicers were responsible for most homeowner mortgages in HAMP. Now non-banks play a larger role in HAMP than bank servicers, servicing 59% of all homeowner mortgages in HAMP. Additionally, non-bank servicers have received $6.4 billion in federal TARP dollars from Treasury through HAMP. The track record on some of the larger non-bank servicers in HAMP violating federal laws and regulations 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. However, Treasury has found that that another large nonbank servicer, Nationstar, needed substantial improvement in complying with HAMP’s rules in numerous occasions. Homeowners in HAMP Will See their Mortgage Payment Increase 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.69 After five years, approximately 82% of homeowners in HAMP will see their mortgage interest rates increase 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 in every state started seeing their interest rates rise and monthly mortgage payments go up this year, some by as much as $1,788 per month.70 See Appendix D.5 for state by state analysis of HAMP payment increases. For more details on HAMP mortgage servicing transfers, see “HAMP Mortgage Servicing Transfers,” in SIGTARP’s April 2015 Quarterly Report, pages 142-147. For more details on the increasing role of Non-bank servicers in HAMP, and related risks see “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,” in SIGTARP’s October 2015 Quarterly Report, pages 63-76. 127 128 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.8 HAMP TIER 1 PERMANENT MODIFICATIONS WITH SCHEDULED PAYMENT INCREASES BY YEAR, AS OF 5/31/2016 Year Modified Permanent Modifications with Scheduled Payment Increases Modification Status Median Interest Rate Median Monthly Payment Before Modification All Years 691,733 5.88% $1,232 2.00% $735 After All Increases 11,071 After Modification 3.75% $888 Before Modification 2016 6.38% Maximum Payment Increase $1,427 After Modification 2.00% $774 After All Increases 4.50% $997 $1,219 $1,788 Notes: a Analysis of HAMP permanent modifications with scheduled interest rate and payment increases excludes 55,064 HAMP permanent modifications with incomplete records. Source: SIGTARP analysis of Treasury HAMP data. 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 $8,276.71 Already 321,455 homeowners in HAMP have had their payments increase, and an additional 102,733 will see their payments increase by the end of 2016. Homeowners Falling Out of HAMP As of June 30, 2016, 538,845 homeowners fell out of the program (also called “redefault”) – often into a less advantageous private sector modification or, even worse, into foreclosure.72 According to a Treasury survey of 19 servicers, as of May 31, 2016, 24% 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.73 So far in 2016 there were only 48,202 new modifications, while there were 31,486 redefaults. Another 87,195 homeowners had missed one to two monthly mortgage payments and are at risk of falling out of the program.74 About half of all homeowners who received a HAMP permanent modification received it in 2009 and 2010. Homeowners who received HAMP permanent modifications in 2009 have fallen out of the program at rates between 58% to 61%. Homeowners who received HAMP permanent modifications in 2010 have fallen out of the program at rates between 46% to 54%.75 Servicer Redefault Rates As of June 30, 2016, of 453,531 (32.7%) of the 1,388,604 homeowners whose HAMP permanent modifications are serviced by 10 of the largest servicers have fallen out of HAMP, as shown in Table 4.9. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 TABLE 4.9 HOMEOWNERS WHO FELL OUT OF HAMP, BY SERVICER, AS OF 6/30/2016 Permanent Modifications Permanent Modifications Redefaulted Percentage of Permanent Modifications Redefaulted Ocwen Loan Servicing, LLCa 324,939 119,319 36.7% Wells Fargo Bank, N.A.b 213,684 62,981 29.5% Nationstar Mortgage LLC 198,373 53,559 27.0% Select Portfolio Servicing, Inc. 119,461 48,096 40.3% JPMorgan Chase Bank, N.A.c 170,042 45,752 26.9% Bank of America, N.A.d 107,893 35,224 32.6% Seterus Incorporated 76,649 31,485 41.1% Ditech Financial LLC 107,955 31,025 28.7% 40,010 13,532 33.8% e CitiMortgage Inc Specialized Loan Servicing LLC 29,598 12,558 42.4% Other 225,321 85,314 37.9% Total 1,613,925 538,845 33.4% 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 – June 2016,” accessed 7/20/2016. Four servicers account for more than half of homeowners’ HAMP permanent modifications that redefaulted: Ocwen Loan Servicing, LLC (119,319), Wells Fargo Bank, N.A. (62,981), Nationstar Mortgage LLC (53,559), and Select Portfolio Servicing, Inc. (48,096).76 Redefaults: Impact on Taxpayers Funding TARP Taxpayers have lost about $2.1 billion in TARP dollars on 284,094 homeowners who fell out of HAMP Tier 1 modifications. About 90% of TARP funds Treasury spent for HAMP permanent modifications that redefaulted were for mortgages currently serviced by 10 servicers, as shown in Table 4.10.77,iv iv Of the 503,342 homeowners who have fallen out of HAMP Tier 1, 284,094 were in modifications funded by TARP the remaining 219,248 were in modifications funded by the GSE’s. 129 130 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.10 TARP DOLLARS SPENT ON HOMEOWNERS WHO FELL OUT OF HAMP, AS OF 6/30/2016 ($ MILLIONS) TARP Incentive Payments for Permanents Redefaulted Servicer Name Total TARP Incentive Payments for Permanents All Percentage of Total TARP Incentive Payments for Permanents Redefaulted $650.6 $3,244.3 20% Select Portfolio Servicing, Inc. 319.4 1,135.2 28% Ocwen Loan Servicing, LLCa Wells Fargo Bank, N.A. 268.3 1,784.0 15% JPMorgan Chase Bank, NAb 188.8 1,607.7 12% Nationstar Mortgage LLC 151.0 851.3 18% Bank of America, N.A.c 117.7 842.3 14% d e Specialized Loan Servicing LLC 74.4 221.3 34% CitiMortgage Inc 44.4 272.0 16% Ditech Financial LLC 36.2 62.4 58% 33.3 278.7 12% Other Bayview Loan Servicing LLC 213.6 814.1 26% Total $2,097.8 $11,113.3f 19% Notes: 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 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 Totals include $72.9 million on modifications that the servicer classified as “withdrawals.” Source: Treasury, response to SIGTARP data call, 7/8/2016. 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).78,v Redefaults: Impact on States In most states at least 37% of homeowners in HAMP fell out of the program, with some states even higher, as shown in Table 4.11. v 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 JULY 27, 2016 TABLE 4.11 HOMEOWNERS WHO FELL OUT OF HAMP BY STATE, AS OF 6/30/2016 Permanent Modifications AL Redefaulted Modifications Redefault Rate 9,044 4,060 45% Permanent Modifications Redefaulted Modifications Redefault Rate 1,592 488 31% MT AK 688 231 34% NE 2,112 875 41% AZ 53,042 19,771 37% NV 31,692 12,343 39% AR 3,423 1,412 41% NH 6,611 2,614 40% CA 332,322 91,535 28% NJ 53,264 21,617 41% CO 18,878 5,530 29% NM 5,074 1,845 36% CT 20,414 8,125 40% NY 78,535 25,842 33% DE 4,815 2,061 43% NC 27,769 11,249 41% DC 2,550 892 35% ND 227 74 33% FL 179,136 59,506 33% OH 31,419 12,532 40% GA 52,391 20,145 38% OK 3,738 1,621 43% GU 15 3 20% OR 15,896 4,997 31% HI 5,494 1,603 29% PA 34,304 14,464 42% ID 5,195 1,738 33% PR 4,636 1,346 29% IL 76,333 29,575 39% RI 7,356 2,890 39% IN 14,378 5,956 41% SC 14,216 5,677 40% IA 3,698 1,611 44% SD 525 189 36% KS 3,644 1,479 41% TN 16,192 7,094 44% KY 5,870 2,458 42% TX 41,599 15,989 38% LA 9,276 4,174 45% UT 11,755 3,785 32% ME 4,393 1,823 41% VT 1,360 508 37% MD 47,539 18,130 38% VI 13 4 31% MA 35,093 12,926 37% VA 33,204 11,569 35% MI 40,480 14,487 36% WA 30,506 10,019 33% MN 21,810 8,158 37% WV 2,035 843 41% MS 5,719 2,664 47% WI 14,255 6,023 42% MO 15,083 6,541 43% WY Total 687 251 37% 1,441,295 503,342 35% Notes: Includes GSE and non-GSE modifications, excludes permanent modifications paid off. Source: Treasury, “HAMP 1MP: Program Volumes Supplemental - Tier 1: State - June 2016,” accessed 7/20/2016. 131 132 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM HAMP Tier 2 Effective June 1, 2012, HAMP Tier 2 modifies mortgages of non-owner-occupied “rental” properties that are tenant-occupied or vacant, and for homeowners with a wider range of debt-to-income situations.79 The 60 participating servicers attempt to obtain a monthly payment that is between 25 - 42% of the homeowners monthly income by adjusting the interest rate, remaining term, and / or deferring or forgiving portion of the outstanding balance. Treasury has paid $844 million in TARP funds for 172,630 HAMP Tier 2 permanent modifications, 134,567 of which remain active.80 Approximately 25,584 of homeowners in active HAMP Tier 2 permanent modifications were previously in HAMP Tier 1 permanent modifications.81 FIGURE 4.5 HAMP PERMANENT MODIFICATION STARTED BY QUARTER AND TIER, AS OF 6/30/2016 200,000 150,000 100,000 50,000 0 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 2009 HAMP Tier 1 2010 2011 2012 2013 2014 2015 2016 HAMP Tier 2 Note: Includes TARP and GSE permanent modifications. Sources: Treasury, HAMP 1MP Programs Volumes Supplemental – Modification Effective Month by Tier – June 2016, accessed 7/20/2016. As shown in Figure 4.5, HAMP Tier 2 activity has increased relative to HAMP Tier 1 over the past few years. During the last 12 months 56,076 homeowners obtained HAMP Tier 2 modifications compared to 44,554 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. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 TABLE 4.12 HAMP TIER 2 FIRST LIEN MODIFICATION ACTIVITY AND OCCUPANCY STATUS, AS OF 6/30/2016 Property Type Borrower Occupied Tenant Occupied Vacant Total Trials Started Trials Cancelled Trials Active Trials Converted Permanent Permanents Disqualified Permanents Paid-Off Permanents Active 190,095 13,529 13,893 162,673 33,693 2,299 126,602 10,341 683 977 8,681 1,570 157 6,954 1,519 125 118 1,276 240 25 1,011 201,955 14,337 14,988 172,630 35,503 2,481 134,567 Source: Treasury, “HAMP 1MP Program Volumes – Tier 2 Property Type – June 2016,” accessed 7/20/2016. According to Treasury data, of the 201,955 HAMP Tier 2 trial mortgage modifications started, 10,341 (5%) were for tenant-occupied properties (as represented by homeowner at time of application), and 1,519 (1%) were for vacant properties.82 In the quarter ending June 30, 2016, 13,917 Tier 2 trials were started (down from 14,345 in the preceding quarter), 14,031 trials converted to permanent modifications (up from 13,871 in the preceding quarter), and 4,729 Tier 2 modifications redefaulted (up from 3,890 in the preceding quarter). As of June 30, 2016 there were 14,988 homeowners active in HAMP Tier 2 trial modifications, compared to 16,006 at the previous quarter end.83 Streamline HAMP Streamline HAMP, a relatively new program announced in July of 2015 and launched on January 1, 2016, and is designed to help more homeowners obtain assistance through HAMP. It does so by minimizing the documentation requirements and eliminating the income restrictions that led to millions of homeowners being rejected from HAMP. Through June 30, 2016, 27,788 homeowners had started Streamline HAMP trial modifications, of which 7,699 have obtained permanent modifications. Home Affordable Unemployment Program (“UP”) Eligible unemployed homeowners not more than 12 months delinquent 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).84 Upon completing such plans, servicers must evaluate for and offer eligible borrowers a HAMP trial, wherein any payments missed before or during the UP forbearance plan are added on the principal before the loan is modified. Alternatively, servicers may skip HAMP UP and offer eligible homeowners a HAMP trial period plan instead, based upon the servicer’s judgment. Only 45,892 homeowners obtained a UP forbearance plan—less than onethird of the 174,712 homeowners who applied.85 As of May 31, 2016, 1,507 homeowners (just over 3% of those who had ever started an UP plan) were active in the program.86 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. 133 134 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.13 CUMULATIVE HOMEOWNER HAMP UP ACTIVITY, AS OF 5/31/2016 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 May 2016 24,402 66,842 98,270 125,557 145,622 167,794 174,712 6,961 18,403 30,525 38,445 42,142 44,990 45,892 584 8,835 14,583 20,250 22,628 24,145 24,598 5,967 6,113 7,786 5,482 3,671 1,548 1,507 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 May 31, 2016, approximately half (53.5%, or 24,598) of homeowners completed their UP forbearance plan successfully, while 44%, or 19,787 fell out of UP.87 According to Treasury data, about one in five homeowners who started an UP plan went into HAMP.88 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 May 31, 2016, only 3,747 of the homeowners who obtained UP assistance had previously been in a HAMP modification.89 Home Affordable Foreclosure Alternatives (“HAFA”) Treasury has paid $1.2 billion through HAFA to encourage short sales or deedsin-lieu of foreclosure as alternatives to foreclosure.90 Under HAFA, if the servicer forfeits the ability to pursue the homeowner if the proceeds are less than balance of the mortgage then Treasury 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.91 HAFA may be used to help prevent foreclosures on primary residences, investment properties, or second/vacation homes. “Relocation” assistance may be paid when homeowners or tenants residing in the property vacate it. In October 2014, Treasury increased this payment from $3,000 to $10,000. Some homeowners may participate in HAFA, even if they stay in the house as a renter or buyer, but will not receive relocation assistance.92 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Through June 30, 2016, HAFA has assisted 223,991 homeowners, approximately 208,992 with short sales and 14,999 with deed-in-lieu transactions.93 According to Treasury’s data, in the twelve months ended June 30, 2016, just 19,588 HAFA transactions have been completed, down from 27,964 in the twelve months ended June 30, 2015. 135 FIGURE 4.6 HAFA TRANSACTIONS BY TYPE, AS OF JUNE 30, 2016 4% 3% 20% FIGURE 4.7 HAFA TRANSACTION ACTIVITY, AS OF JUNE 30, 2016 250,000 217,464 223,991 190,053 200,000 73% 163,395 150,000 Deed-in-lieu with Relocation Compensation 117,655 Deed-in-lieu without Relocation Compensation 100,000 0 Short Sale with Relocation Compensation 52,246 50,000 7,369 2010 Short Sale without Relocation Compensation 44,877 65,409 45,740 26,658 27,411 6,527 2011 2012 2013 2014 2015 2016 Annual Transactions Cumulative Transactions Source: Treasury, HAFA Program Inventory – Loan Agreement Issue Month – June 2016," accessed 7/20/2016. Source: Treasury, “HAFA Program Inventory – Program Type – June 2016,” accessed 7/20/2016. 136 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 TARP funds for “innovative measures to help families in the states that have been hit the hardest by the aftermath of the housing bubble.”94 HHF was originally estimated to help about 550,000 homeowners avoid foreclosure but has only assisted less than half that number, 256,361 homeowners. 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.95,vi Treasury picked states that it deemed to have significant home price declines and high unemployment rates. Up until 2013, HHF was largely a program to provide Federal funds to unemployed and underemployed homeowners to help pay their mortgage. However, in 2013, Treasury began allowing the first of seven state HFAs to use existing HHF dollars to demolish vacant and abandoned homes to help neighboring homeowners under a new Blight Elimination Program. In February 2016, Treasury announced that $2 billion in TARP funds would be reallocated to HHF, increasing the total HHF amount from $7.6 billion to $9.6 billion.96 The new $2 billion in funds were awarded to HHF states in two phases. In the first phase, $1 billion was allocated using a formula based on state population and the state’s ultilization of their existing HHF funds. In this first phase, allocations were made to 18 of the 19 HHF states; only Alabama did not receive additional funds. In the second phase, states were awarded a portion of the second $1 billion funds based on application. Fourteen HHF states applied for additional funds and 13 HHF states were allocated funds from this second phase. Only one state, Georgia, applied for funds in the second phase and was not awarded funding.97 As of March 31, 2016, 73.6% of the HHF funds spent by state HFAs went to unemployment assistance, including to help pay past-due amounts on a mortgage.98 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 21.8% for mortgage modification assistance, including principal reduction assistance, 0.4% for second-lien reduction assistance, and 0.1% for transition assistance.99 As of March 31, 2016, five state HFAs (Michigan, Ohio, Indiana, Illinois and South Carolina) had spent $163.5 million (up from $135.1 million as of the prior quarter) to demolish 11,166 properties under the Blight Elimination Program, representing 3% of all HHF expenditures. According to information reported to Treasury by those five state HFAs as of March 31, 2016 (the only ones to report HHF demolition activity to Treasury), HHF Michigan had spent $130.4 vi 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 June 30, 2016, there were 80 active HHF programs run by the 19 state HFAs. As of June 30, 2016, Illinois, Kentucky, Michigan, New Jersey, Oregon, Ohio, Rhode Island, Tennessee and Washington D.C. had stopped accepting new applications except under select programs. Kentucky and Michigan reopened their application portals during this period.” QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 million (79.7% of all Blight spending) to demolish 8,531 properties, HHF Ohio spent $24.9 million (15.2% of all Blight spending) to demolish 2,009 properties, and HHF Indiana spent $7.5 million (4.6% of all Blight spending) to demolish 590 properties. HHF Illinois spent $267,254 (0.2% of all Blight spending) to demolish 10 properties and HHF South Carolina spent $461,345 (0.3% of all Blight spending) to demolish 26 properties.100 Four states reported spending $40.9 million representing 0.8 percent of all HHF assistance provided, to assist 3,323 homebuyers under its down payment assistance programs. These included: HHF Florida, HHF Illinois, HHF Kentucky and HHF North Carolina. Florida has spent $19.2 million, less than 0.4% of all HHF expenditures, to assist 1,296 homebuyers. Illinois has spent $8.4 million, less than 0.2% of all HHF expenditures, to assist 1,119 homebuyers under its down payment assistance program. Kentucky has spent $7.0 million (less than 0.2 % of all HHF expenditures), assisting 486 homebuyers, and North Carolina has spent $6.3 million, (less than 0.2% of all HHF spending) to assist 422 homebuyers.101 Homeowner Assistance in HHF Programs In the beginning of 2011, state HFAs collectively estimated that they would help 546,562 homeowners with HHF.102 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%).103 According to Treasury, as of March 31, 2016, state HFAs had spent $4.8 billion to help 256,361 individual homeowners. For the quarter ended March 31, 2016 alone, states spent $182.7 million to help 7,746 homeowners.104 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 2011 estimate of the number of homeowners it projected it would help, its current estimate and the percentage decrease in actual number of homeowners helped, as of March 31, 2016.vii vii Program participation and homeowners assisted data does not take into account the status of the mortgage (i.e., active, delinquent, 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. 137 138 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.14 HHF HOMEOWNER ASSISTANCE ESTIMATES, AS OF 3/31/2016 State Alabama Arizona 2011 Estimate Current Estimate as of 3/31/2016 Percentage Decrease 13,500 7,100 47% 10,542 6,263 41% California 101,337 73,800 27% Florida 106,000 37,800 64% Georgia 18,300 12,800 30% Illinois 27,000 13,500 50% Indiana 16,257 10,184 37% Kentucky 13,000 8,241 37% Michigan 49,422 8,542 83% 3,800 3,500 8% 23,008 8,026 65% 6,900 6,845 1% North Carolina 21,280 19,619 8% Ohio 63,485 41,201 35% Oregon 13,295 15,150 — Rhode Island 13,125 3,413 74% South Carolina 34,100 18,350 46% Tennessee 11,211 7,355 34% 1,000 1,300 — 546,562 302,989 45% Mississippi Nevada New Jersey District of Columbia Total Note: As of 3/31/2011, states estimated assisting 546,562 homeowners, the peak quarterly aggregate estimate for HHF states. Since 2011, Oregon and District of Columbia have increased their estimates. Source: Treasury, “Hardest Hit Fund, Archived Program Information, Participation Agreements and Initial Program Guidelines,” no date, www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/hhf/Pages/Archival-information.aspx, accessed 7/5/2016; SIGTARP analysis of HFA participation agreements and amendments. 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 Second-Largest 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 March 31, 2016 (the latest data available): only 43% of homeowners who requested HHF assistance were admitted.105 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 March 31, 2016. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 TABLE 4.15 HHF HOMEOWNER ADMISSION RATE BY HHF STATE, PROGRAM TO DATE, AS OF 3/31/2016 Homeowners That Applied Homeowners That Received Assistance Homeowner Admission Rate 121,747 25,588 21.0% Alabama 19,348 4,597 23.8% Arizona 17,400 4,350 25.0% Georgia 26,272 7,814 29.7% Nevada 14,392 5,382 37.4% 143,425 58,848 41.0% Oregon 28,347 11,785 41.6% South Carolina 25,149 10,732 42.7% New Jersey 13,767 6,057 44.0% Michigan 62,193 30,682 49.3% Rhode Island 4,833 3,075 63.6% Mississippi 5,767 3,685 63.9% North Carolina 32,510 21,663 66.6% Kentucky 11,929 8,042 67.4% Illinois 20,511 14,034 68.4% Ohio State Florida California 34,779 24,533 70.5% Tennessee 9,352 7,355 78.6% Indiana 9,245 7,432 80.4% 872 707 81.1% 601,838 256,361 District of Columbia Total Sources: Treasury’s Q1 2016 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 7/5/2016; Treasury, “HFA Aggregate Quarterly Report Q1 2016,” no date, www.treasury.gov/initiatives/financial-stability/ reports/Documents/HFA%20Aggregate%20Q12016%20Report.pdf, accessed 7/5/2016. Of the homeowners who applied for HHF assistance from their state HFA, more than one quarter (26%) had their applications denied as of March 31, 2016.106 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 March 31, 2016.107 139 140 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.16 HHF HOMEOWNER DENIAL RATE BY HHF STATE, PROGRAM TO DATE, AS OF 3/31/2016 Homeowners That Applied Homeowners Denied Assistance Homeowner Denial Rate Arizona 17,400 11,789 67.8% New Jersey 13,767 7,398 53.7% Georgia 26,272 10,444 39.8% South Carolina 25,149 8,681 34.5% 4,833 1,425 29.5% Michigan 62,193 18,137 29.2% California 143,425 40,180 28.0% Florida 121,747 31,474 25.9% State Rhode Island Mississippi 5,767 1,406 24.4% Nevada 14,392 3,150 21.9% Illinois 20,511 4,167 20.3% North Carolina 32,510 6,000 18.5% Kentucky 11,929 2,093 17.5% 872 133 15.3% 34,779 4,881 14.0% District of Columbia Ohio Tennessee 9,352 1,300 13.9% Alabama 19,348 1,857 9.6% Oregon 28,347 2,158 7.6% Indiana 9,245 571 6.2% 601,838 157,244 Total Sources: Treasury’s Q1 2016 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 7/5/2016; Treasury, “HFA Aggregate Quarterly Report Q1 2016,” no date, www.treasury.gov/initiatives/financial-stability/ reports/Documents/HFA%20Aggregate%20Q12016%20Report.pdf, accessed 7/5/2016. As of March 31, 2016, 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.108 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 March 31, 2016.109 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 TABLE 4.17 HHF WITHDRAWN HOMEOWNER APPLICATIONS BY HHF STATE, PROGRAM TO DATE, AS OF 3/31/2016 Homeowners That Applied Homeowner Applications Withdrawn Homeowner Withdrawal Rate 19,348 12,435 64.3% Oregon 28,347 14,391 50.8% Florida 121,747 51,256 42.1% Nevada 14,392 5,783 40.2% Georgia 26,272 7,401 28.2% 143,425 40,192 28.0% State Alabama California South Carolina 25,149 5,102 20.3% Michigan 62,193 12,408 20.0% Ohio 34,779 5,365 15.4% North Carolina 32,510 4,211 13.0% Illinois 20,511 2,198 10.7% Kentucky 11,929 1,275 10.7% Indiana 9,245 947 10.2% Mississippi 5,767 496 8.6% Tennessee 9,352 697 7.5% Rhode Island Arizona District of Columbia New Jersey Total 4,833 333 6.9% 17,400 1,127 6.5% 872 27 3.1% 13,767 139 1.0% 601,838 165,783 Sources: Treasury’s Q1 2016 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 7/5/2016; Treasury, “HFA Aggregate Quarterly Report Q1 2016,” no date, www.treasury.gov/initiatives/financial-stability/ reports/Documents/HFA%20Aggregate%20Q12016%20Report.pdf, accessed 7/5/2016. 141 142 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM States’ TARP Allocations and Spending for HHF Of the $9.6 billion in TARP funds available for HHF, as of June 30, 2016, state HFAs collectively had drawn down $6.6 billion (69%), up from $6.4 billion in the prior quarter. As of March 31, 2016, 73.6% of HHF funding went to unemployment assistance.110 However, as of March 31, 2016, the latest date for which detailed spending data is available from the state HFA Quarterly Financial Reports, which are one quarter behind,viii only $4.8 billion had been spent on direct assistance to 256,361 individual homeowners; five state HFAs had spent another $163.5 million on blight elimination (which does not directly assist individual homeowners); four state HFAs had spent $40.9 million to provide 3,323 homebuyers with down payment assistance. As of March 31, 2016, HHF states had also spent $626.4 million in HHF funds on administrative expenses, held $890.4 million as unspent cash-on-hand, and had an aggregate of $3.2 billion remaining in undrawn funds available for HHF.111 See Table 4.18 for more detail on administrative expenses. viii 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. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 TABLE 4.18 FIGURE 4.8 HHF ADMINISTRATIVE EXPENSES AS A PERCENTAGE OF TOTAL ALLOCATION, AS OF 3/31/2016 AGGREGATE EXPENDITURES, BY PROGRAM CATEGORY PROGRAM THROUGH MARCH 31, 2016 Administrative Expenses Percentage of Total HHF Allocation Alabama $9,540,311 6% Arizona 20,940,229 7% 136,598,688 6% Florida 61,393,953 5% Georgia 26,813,686 7% Illinois 35,067,826 5% Indiana 26,016,641 9% Kentucky 14,379,585 7% Michigan 32,938,038 4% Transition ($6,805,624) Mississippi 11,001,017 8% Modification ($1,090,407,747) Nevada 16,576,500 8% Second-Lien Reduction ($18,893,983) New Jersey 24,792,885 6% Blight Elimination ($163,538,303) North Carolina 60,749,760 9% Homebuyer Assistance ($40,914,627) Ohio 51,239,768 7% Oregon 35,872,328 11% 8,723,000 8% South Carolina 30,887,767 10% Tennessee 19,309,000 6% 3,525,905 12% $626,366,887 7% State California Rhode Island Washington, DC Total Note: Administrative expenses are as reported on the states Quarterly Financial Reports. Source: Treasury, response to SIGTARP data call, 7/5/2016; Treasury, Housing Transactions Report, 6/28/2016. 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. Treasury approves each HFAs allocation of HHF funds among such HFA’s HHF programs and Treasury must also approve any additional change to a HFA’s HHF allocation. Figure 4.9 shows state allocations, and unspent and spent funds by dollar volume and percentage of TARP funds for HHF by percent, as of March 31, 2016, the most recent figures available. 0.4% 3.3% 0.8% 21.8% 0.1% 58.2% 15.3% Unemployment ($2,912,048,751) Past-Due Payment ($767,346,412) Source: State HFA Quarterly Performance Reports as of March 31, 2016, available via hyperlink from Treasury, “Hardest Hit Fund: State-By State Information”; www.treasury.gov/initiatives/financialstability/TARP-Programs/housing/Pages/ProgramDocuments.aspx, accessed 7/1/2016; Treasury, response to SIGTARP data call, 7/5/2016. For more information on the Blight Elimination Program, please see “The Update on the Hardest Hit Funds Blight Elimination Program” on pages 150–169. For more information on HHF homebuyer assistance, please see pages 145–149. 143 144 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.9 HARDEST HIT FUNDS UNSPENT BY STATE HFAS, AS OF 3/31/2016 Alabama $162.5 million allocated $115.7 million (71%) Arizona $296.0 million allocated $132.8 million (45%) California $2,358.6 million allocated $896.4 million (38%) Florida $1,135.7 million allocated $475.6 million (42%) Georgia $370.1 million allocated $199.9 million (54%) Illinois $715.1 million allocated $333.6 million (47%) Indiana $283.7 million allocated $146.1 million (51%) Kentucky $207.0 million allocated $80.7 million (39%) Michigan $761.2 million allocated $356.0 million (47%) Mississippi $144.3 million allocated $67.5 million (47%) Nevada $202.9 million allocated $96.2 million (47%) New Jersey $415.1 million allocated $157.6 million (38%) North Carolina $706.5 million allocated $273.0 million (39%) Ohio $762.3 million allocated $259.2 million (34%) Oregon* $314.6 million allocated $78.1 million (25%) Rhode Island $116.0 million allocated $42.6 million (37%) South Carolina $317.5 million allocated $118.5 million (37%) Tennessee $302.1 million allocated $108.5 million (36%) Washington, DC $28.7 million allocated $11.4 million (40%) TOTAL $9.6 billion $3,949.3 million (41%) 0 20 Unspent Funds 40 60 80 100 Spent Funds Note: State spending figures from each state’s Quarterly Financial Report are as of March 31, 2016, the most recent available. Spent funds include the following expenditures: program and administrative expenses, blight elimination, and homebuyer assistance. Unspent funds is derived from the state’s total HHF allocation minus spent funds and includes cash on hand. Source: Treasury, response to SIGTARP data call, 7/5/2016; Treasury, Transactions Report–Housing Programs, 6/28/2016. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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 $108.4 million of its HHF funds to its Down Payment Assistance Program.112,ix 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. Since approving HHF Florida’s request, Treasury has approved five additional state housing finance agencies (“HFAs”) to reallocate a total of $341.8 million in HHF funding to Homebuyer Assistance as of June 30, 2016: HHF Illinois ($73 million), HHF North Carolina ($60 million), HHF Kentucky ($24.3 million), HHF Rhode Island ($4.7 million), and HHF Arizona ($71.4 million). HHF Florida reported to Treasury that it had provided an average of $14,837 in Homebuyer Assistance to 1,296 homebuyers as of March 31, 2016 (HHF data on file with Treasury is one quarter behind). As of March 31, 2016, Illinois has reported providing $8.4 million in assistance to 1,119 homebuyers (an average of $7,500 per homebuyer).113 HHF North Carolina provided $6.3 million of assistance to 422 homebuyers, (an average of $15,000 per homebuyer), while Kentucky spent $7 million assisting 486 homebuyers (an average of $14,328 per homebuyer). On June 1, 2016, four states, Illinois, Rhode Island, North Carolina and Kentucky, received Treasury approval for increased allocations to Homebuyer Assistance, of $35 million, $2 million, $30 million, and $8.75 million, respectively, to their Down Payment Assistance programs.114 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.x ix Funding was reallocated from Florida’s unemployment assistance and reinstatement assistance programs. x SIGTARP, Letter to Treasury, 5/19/2015 (reprinted at SIGTARP, Quarterly Report to Congress, July 29, 2015, Appendix K). For more on SIGTARP’s Recommendations to Treasury, see SIGTARP’s July 2015 Quarterly Report, pages 58-63 and 396-399. 145 146 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM “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).xi 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.115 HHF Illinois estimates helping the largest number of homebuyers (9,733), while HHF Kentucky and HHF Rhode Island project helping the fewest: 2,166 and 235 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 $108.4 million $15,000 7,230 Illinois 7/30/2015 $73 million $7,500 9,733 State HFA North Carolina 8/21/2015 $60 million $15,000 4,000 Kentucky 10/28/2015 $24.3 million $10,000 2,166 Rhode Island 11/24/2015 $4.7 million $20,000 235 Arizona 12/18/2015 $71.4 million $20,000* 4,261 Total $341.8 million 27,625 * 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 7/5/2016; Treasury response to SIGTARP data call, 7/5/2016. 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 state HFAs will provide TARP assistance available to homebuyers with up to 140% of area median income.xii xi 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. xii Homebuyers must also be “creditworthy,” with FICO scores exceeding specified minimums. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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 7/5/2016. 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.116 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 $371,936—more than three times that state’s median house price of $121,300.117 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 this TARP assistance for properties that are newly constructed (HHF Kentucky and HHF Rhode Island).118,xiii Of the six state HFAs approved by Treasury to offer Homebuyer Assistance under HHF, HHF Rhode Island is the only state 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 with up to 2 units, while HHF in Florida, North Carolina, Rhode Island and Arizona xiii 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. 147 148 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 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 Kentucky X Rhode Island (2-4 Units) Arizona (2-4 Units) X * Provision of TARP assistance to purchase newly constructed properties is not explicitly excluded by the terms the respective HFA 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 7/5/2016. 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. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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. 149 150 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 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,xiv 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. 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,xv by shifting TARP funds from HHF homeowner assistance programs. As of June 30, 2016, Treasury had approved the allocation of a total of over $791 million in TARP funds to this HHF program to demolish and “green” vacant and abandoned single and multifamily residential structures, which includes new allocations for five states; Michigan, Ohio, Illinois, Alabama and Tennessee.xvi As of June 30, 2016, the HHF Blight Elimination Program already represented approximately 50% of the total HHF allocation in Michigan, 26% in Indiana, 22% in Alabama, 31% in Ohio, 11% in South Carolina, 3% in Tennessee and 2% in Illinois. BLIGHT ELIMINATION PROGRAM ALLOCATIONS, AS OF 6/30/2016 Allocation Blight (Millions) % of HFA’s Total HHF $381.2 50% 238.0 31% Indiana 75.0 26% Illinois 17.0 2% Alabama 35.0 22% South Carolina 35.0 11% Tennessee 10.0 3% State HFA Michigan 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.” Ohio Total $791.2 Sources: Each state HFA’s Commitment to Purchase Financial Instrument and HFA Participation Agreement and subsequent amendments, various dates, accessed 7/5/2016; Treasury response to SIGTARP data call, 7/5/2016. 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. xiv Treasury, Action Memorandum for Assistant Secretary Massad, Approval for HFA Hardest-Hit Fund Program Change Requests, 6/5/2013. xv Tennessee Ninth Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement, 9/29/2015, www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/Documents/Redacted%209th%20Amendment%20to%20 HPA-%20Tennessee.pdf, accessed 7/5/2016. xvi Treasury, response to SIGTARP data call, 7/5/2016. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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. Three states with blight elimination programs amended their agreements with Treasury, adopting a SIGTARP recommendation made and accepted by Treasury. 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 March 31, 2016, the latest available data, five state HFAs—those in Michigan, Ohio, Indiana, as well as Illinois and South Carolina for the first time are reporting 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 11,166 properties (up 20% from the 9,293 reported as of the prior quarter), with one state HFA, HHF Michigan, accounting for 76% of the total (8,531 properties). As of March 31, 2016, both HHF Alabama and HHF Tennessee reported zero demolitions, but Alabama did report that 12 structures were being reviewed for demolition eligibility. 151 152 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM BLIGHT ELIMINATION PROGRAM ACTIVITY, AS OF 3/31/2016 TARP Expenditures Cumulative (Millions) Properties Removed Cumulative Michigan $130.4 8,531 Ohio $24.9 2,009 Indiana $7.5 590 Illinois $0.3 10 Alabama $— 0 South Carolina $0.5 26 Tennessee $— 0 $163.5 11,166 State HFA Total Source: Each state HFA’s Quarterly Performance Report as of 3/31/2016. HHF BLIGHT ELIMINATION PROGRAM PARTNERS WHO RECEIVE TARP FUNDS 11% 10% 1% 41% 34% 3% Non Profit Entities (125) For Profit Entities (8) Individuals (105) Cities/Counties (4) Other Public Agencies (31) Land Banks (34) 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 March 31, 2016), 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. 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. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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: $381.2 Million (50% 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: 15,247 properties (based on HHF Michigan’s $381.2 Million allocation, at the full cap of $25,000 per property) Cumulative Program Activity Reported by HHF Michigan (as of 3/31/2016):** Applications Received: 13,900 Denied: 0 (0%); Approved: 8,531 (61%); In Process: 3,886 (28%); Withdrawn: 1,483 (11%) Total Assistance Provided: $130,364,016 Median Assistance Spent on Acquisition: $0xvii Median Assistance Spent on Demolition: $10,691 Median Assistance Spent on Greening:xviii $2,700 As of March 31, 2016, HHF Michigan reported to Treasury that it had spent $130.4 million (34% of the $381.2 million allocated to HHF Michigan for blight elimination) to remove and green 8,531 properties. This is a 15% increase over the 7,435 reported removed as of the fourth quarter of 2015. The average cost was $15,281 per property (the average cost has increased $328 from the $14,953 average cost through December 31, 2015. xvii While the median Assistance spent on Acquisition may be $0, there still may be actual acquisition expenses. xviii Prior to March 31, 2015, Michigan reported “site restoration expenses” as part of demolition costs, and reported “Median Assistance Spent on Greening” as $0. Beginning with the second quarter of 2015, Michigan began reporting the “Greening expense” separately. 153 154 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM MICHIGAN HHF BLIGHT ELIMINATION PROGRAM PARTNERS AND DEMOLITION ACTIVITY AS OF 3/31/2016** Most Recent Quarter Cumulative Applications Submitted 5,154 13,900 Properties Demolished/Removed 1,096 8,531 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 10 10 Flint Genesee County Land Bank Authority 3 1,779 Ironwood Gogebic County Land Bank 0 16 Grand Rapids Kent County Land Bank Habitat for Humanity of Kent County 2 95 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. 40 44 Lansing Ingham County Land Bank Fast Track Authority 73 138 Muskegon City of Muskegon Heights 37 61 Pontiac Michigan Land Bank 0 126 Port Huron Port Huron Neighborhood Housing Corporation 7 20 River Rouge Wayne Metro Community Action Agency 19 19 Saginaw Bridgeport Charter Township City of Saginaw 61 841 a 0 0 844 5,382 Michigan Homeowner Assistance Nonprofit Housing Corporation (MHA). *Michigan Homeowner Assistance Nonprofit Housing Corporation, Seventh, Tenth, Eleventh, Twelfth and Thirteenth Amendments to Agreement, 6/6/2013, 3/6/2015, 10/28/2015, 4/1/2016 and 6/1/2016. **Michigan Homeowner Assistance Nonprofit Housing Corporation, Hardest Hit U.S. Treasury Reports, Quarterly Performance Report Q1 2016, no date. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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 1,407 1,096 501 Q3'14 Blight Elimination Program, Properties Removed Other HHF Programs, Unique Homeowners Assisted Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 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 Q1 2016, 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. 155 156 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 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: $238.0 Million (31% of total HHF Ohio allocation)xix Eligibility: 1-4 unit residential properties, as well as “mixed use” propertiesxx 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: 19,000 properties Cumulative Program Activity Reported by HHF Ohio (as of 3/31/2016):** Applications Received: 2,312 Denied: 1 (0.04%); Approved: 2,009 (86.89%); In Process: 278 (12%); Withdrawn: 24 (1.04%) Total Assistance Provided: $24,909,843 Median Assistance Spent on Acquisition: $0 Median Assistance Spent on Demolition: $8,200 Median Assistance Spent on Greening: $300xxi As of March 31, 2016, HHF Ohio reported that it had spent $24.9 million (10% of the $238 million allocated to HHF Ohio for blight elimination as of June 30, 2016) to remove and green 2,009 properties. This is a 27% increase over the 1,588 properties reported as of the fourth quarter of 2015. The average cost was $12,399 per property ($413 higher than the $11,986 average cost through December 31, 2015). For the fourth consecutive quarter, HHF Ohio reported that it demolished more properties (421) under the Blight Elimination Program than the homeowners it assisted under all its other HHF programs combined (0). 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. xix Treasury, response to SIGTARP data call, 7/5/2016. xx Neighborhood Initiative Guidelines, 2/6/2015, ohiohome.org/savethedream/documents/NeighborhoodInitiative-Guidelines.pdf, accessed 7/8/2016. xxi According to Ohio, prior to 12/1/2014, “site restoration expenses” were reported as demolition costs, but were reclassified as “Greening” effective as of that date. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 OHIO HHF BLIGHT ELIMINATION PROGRAM PARTNERS AND DEMOLITION ACTIVITY AS OF 3/31/2016** Most Recent Quarter Cumulative Applications Submitted 705 2,312 Properties Demolished/Removed 421 2,009 Demolished in Most Recent Quarter Demolished, Cumulative City/County Partnera Ashtabula Ashtabula County Land Reutilization Corporation 11 23 Belmont Belmont County Land Reutilization Corporation 0 0 Butler Butler County Land Reutilization Corporation 0 0 Clark Clark County Land Reutilization Corporation 5 10 Columbiana Columbiana County Land Reutilization Corporation 0 7 Cuyahoga Cuyahoga County Land Reutilization Corp. 122 1,128 Erie Erie County Land Reutilization Corporation 7 7 Fairfield Fairfield County Land Reutilization Corporation Franklin Central Ohio Community Improvement Corp. Hamilton Jefferson 7 7 61 127 Hamilton County Land Reutilization Corporation 0 1 Jefferson County Reutilization Corp. 4 6 Lake Lake County Land Reutilization Corp. 8 8 Lorain Lorain County Land Reutilization Corp. 0 0 Lucas Lucas County Land Reutilization Corp. 52 389 Mahoning Mahoning County Land Reutilization Corp. 23 72 Montgomery Montgomery County Land Reutilization Corp. 26 28 Portage Portage County Land Reutilization Corporation 0 2 Richland Richland County Land Reutilization Corp. 19 27 Stark Stark County Land Reutilization Corporation 43 57 Summit Summit County Land Reutilization Corp. 6 6 Trumbull Trumbull County Land Reutilization Corp. 27 104 a Ohio Homeowner Assistance LLC. * Ohio Homeowner Assistance LLC, Eleventh and Twelfth Amendments to Agreement, 12/18/2014, and 6/28/2016. ** Ohio Homeowner Assistance LLC, Save the Dream Ohio: Quarterly Reports, Quarterly Performance Report, Q1 2016, no date. 157 158 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 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 0 Q1'14 2,604 2,354 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 0 421 Q1'16 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 Q1 2016, no date; Ohio Homeowner Assistance LLC, ninth through eleventh Amendment to Agreement, 12/12/2013, 2/27/2014, and 12/18/2014. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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 (26% of total HHF Indiana allocation) Eligibility: Residential (non-commercial)xxii 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 3/31/2016):** Applications Received: 3,078 Denied: 0 (0%); Approved: 590 (19%); In Process:xxiii 2,488 (81%); Withdrawn: 0 (0%) Total Assistance Provided: $7,535,845 Median Assistance Spent on Acquisition: $5,834 Median Assistance Spent on Demolition: $6,424 Median Assistance Spent on Greening: $1,845 As of March 31, 2016, HHF Indiana reported spending $7.5 million of its $75 million blight elimination allocation to remove 590 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. xxii HHF Indiana’s program guidelines limit eligible properties to 1-4 units. Indiana Housing and Community Development Authority Blight Elimination Program, 1/2014. xxiii The cumulative number of applications still in process as of the reporting date is the cumulative “Total Number of Structures Submitted for Eligibility Review” less the sum of the cumulative number approved, denied and withdrawn. 159 160 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM INDIANA HHF BLIGHT ELIMINATION PROGRAM PARTNERS AND DEMOLITION ACTIVITY AS OF 3/31/2016** Most Recent Quarter 2,808 Applications Submitted Properties Demolished/Removed City/County City of Alexandria City of Anderson City of Arcadia City of Auburn City of Austin 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. Cumulative 3,078b 320 590 Demolished in Most Recent Quarter Demolished, Cumulative 7 9 16 19 0 0 1 1 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 1 1 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 2 City of Delphi Habitat for Humanity of Lafayette, Inc. 0 0 City of Dunkirk Dunkirk Industrial Development Corp. 0 9 City of East Chicago East Chicago Department of Redevelopment 16 26 City of Elwood Elwood Redevelopment Commission 15 19 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. 3 48 City of Fort Wayne Housing and Neighborhood Devt. Svcs, Inc. 19 57 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 122 216 City of Hammond United Neighborhoods, Inc. 1 3 City of Hartford Rosalie Adkins Jay Dawson Blackford Development Corp. Community & Family Services 11 11 Continued on next page 161 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 INDIANA HHF BLIGHT ELIMINATION PROGRAM PARTNERS AND DEMOLITION ACTIVITY AS OF 3/31/2016** City/County City of Indianapolis Partnera CAFE Near East Area Renewal Near North Development Corporation Riley Area Development Corporation Renew Indianapolis (CONTINUED) Demolished in Most Recent Quarter Demolished, Cumulative 4 10 City of Knox Starke County Economic Devt. Foundation, Inc. 0 0 City of Kokomo Kokomo Community Development Corp. 9 9 City of Lawrence Lawrence/Fort Harrison Development Corporation dba Lawrence Community Development Corporation 1 1 City of Lebanon Lebanon Community Development Corporation 0 0 City of Logansport Logansport Municipal Building Corporation 6 9 City of Marion Marion Redevelopment Commission 1 41 3 3 0 0 10 16 City of Montpelier City of Muncie City of New Castle Blackford Development Corp Community & Family Services Muncie Redevelopment Commission Faith Builders Healthy Communities of Henry County Interlocal Community Action Program, Inc. New Castle Housing Authority Westminster Community Center City of Peru Miami County Master Gardener Association 0 0 City of Portland Community & Family Services 0 0 7 7 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 7 7 City of Seymour Southern Indiana Housing & Community Development Corp 0 0 16 23 0 0 0 0 1 1 City of South Bend City of Terre Haute City of Vincennes City of Washington 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 United Pentecostal Tabernacle Steven W. and Mrs. Kramer Forest R. Davis and Charity Davis Spiritwoman Greywolfe Davies County Economic Development Foundation, Inc. Habitat for Humanity of Daviess County, Inc. Washington Housing Authority Continued on next page 162 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM INDIANA HHF BLIGHT ELIMINATION PROGRAM PARTNERS AND DEMOLITION ACTIVITY AS OF 3/31/2016** City/County County of Dearborn Partnera 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 3 3 4 4 14 14 County of Elkhart LaCasa Inc. 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 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 8 8 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 163 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 INDIANA HHF BLIGHT ELIMINATION PROGRAM PARTNERS AND DEMOLITION ACTIVITY AS OF 3/31/2016** 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 Larry D. Speicher and Scott R. Speicher Bettye Lee (CONTINUED) Demolished in Most Recent Quarter Demolished, Cumulative 6 6 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 0 0 0 0 Town of Brookville Town of Cambridge City Brookville Redevelopment Commission Thomas G. and Tammy Davis III Kara Knapp Carla Boyles Jonathan Winchester Town of Daleville Daleville Parks, Inc. 2 2 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 3 3 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 2 2 a b Indiana Housing and Community Development Authority. Indiana Quarterly Performance Report, 3/31/2016, cumulative data did not change, quarter to quarter. * Indiana Housing and Community Development Authority, Ninth, Tenth, and Eleventh Amendments to Agreement, 7/31/2014, 4/1/2016, and 6/28/2016. **Indiana Housing and Community Development Authority, Indiana’s Hardest Hit Fund, Quarterly Reports to the U.S. Treasury, Quarterly Performance Report, Q1 2016, no date. 164 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 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: $17.0xxiv Million (2% 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: 1,000–1,500 properties (1,000 at half the full cap of $35,000 per property) Cumulative Program Activity Reported by HHF Illinois (as of 3/31/2016):** Applications Received: 455 Denied: 0 (0%); Approved: 10 (2%); In Process: 404 (89%); Withdrawn: 41 (9%) Total Assistance Provided: $267,254 Median Assistance Spent on Acquisition: $3,118 Median Assistance Spent on Demolition: $18,754 Median Assistance Spent on Greening: $1,000 As of March 31, 2016, HHF Illinois has reported demolition activity for the first time, spending $267,254 of its $17 million blight elimination allocation to remove 10 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. xxiv Treasury, response to SIGTARP data call, 7/5/2016. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 ILLINOIS HHF BLIGHT ELIMINATION PROGRAM PARTNERS AND DEMOLITION ACTIVITY AS OF 3/31/2016** Most Recent Quarter 455 Applications Submitted Properties Demolished/Removed Cumulative 455 10 10 Demolished in Most Recent Quarter Demolished, Cumulative City/County Partnera Aurora Fox Valley Habitat for Humanity Joseph Corporation Northern Lights Development 0 0 Centralia BCMW Community 0 0 Chicago Heights Cook County Land Bank Authority 0 0 Chicago (Cook County Land Bank Authority) Greater Englewood CDC Sunshine Gospel Ministries 0 0 Danville Habitat for Humanity Danville 0 0 Evanston Community Partners for Affordable Housing 0 0 Freeport NW Homestart, Inc. Northwestern Illinois Community Action Agency 0 0 Joliet South Suburban Land Bank and Devt. Authority 3 3 Macomb Western Illinois Regional Council Community Action Agency 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 Peoria Peoria Citizens Community for Economic Opportunity 0 0 Riverdale Cook County Land Bank Authority 0 0 Rock Island Rock Island Economic Growth Corp. 0 0 Round Lake Beach The Fuller Center for Housing–Hero Project Lake County 0 0 Springfield The Springfield Project Enos Park Neighborhood Improvement Association Nehemiah Expansion 0 0 Sterling Rock Island Economic Growth Corp. 3 3 Urbana Habitat for Humanity of Champaign County 3 3 Rockford Rockford Corridor Improvement, Inc. 1 1 Winnebago County Comprehensive Community Solutions, Inc. 0 0 a Illinois Housing Development Authority. * Treasury, response to SIGTARP data call, 7/5/2016; Illinois Housing Development Authority, Tenth, Eleventh, and Twelfth Amendments to Agreement, 4/11/2014, 7/30/2015, and 6/1/2016. **Illinois Housing Development Authority, Illinois Hardest Hit Program, Reporting, Quarterly Performance Report, Q1 2016, no date. 165 166 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 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 $1,750 for administrative expenses; and a one-time $3,000 maintenance fee to cover maintenance expenses for a period of three (3) 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 3/31/2016):** Applications Received: 548 Denied: 6 (1%); Approved: 26 (5%); In Process: 466 (85%); Withdrawn: 50 (9%) Total Assistance Provided: $461,345 Median Assistance Spent on Acquisition: $4,670 Median Assistance Spent on Demolition: $8,788 Median Assistance Spent on Greening: $2,600 As of March 31, 2016, HHF South Carolina reported it had spent $461,345 of its $35 million Blight Elimination Program allocation approved by Treasury, to remove 26 properties, its first time to report demolitions since it launched its program in 2014. 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. 167 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 SOUTH CAROLINA HHF BLIGHT ELIMINATION PROGRAM PARTNERS AND DEMOLITION ACTIVITY AS OF 3/31/2016** Most Recent Quarter 508 Applications Submitted Properties Demolished/Removed Cumulative 548 26 26 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 1 1 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 Greenville Revitalization Corp. 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 1 1 Spartanburg County Homes of Hope Habitat for Humanity Nehemiah Community Revitalization Corp. Northside Development Group Upstate Housing Partnership 19 19 Sumter County Santee-Lynches Regional Development Corp 5 5 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, Eighth, Ninth, and Tenth Amendments to Agreement, 7/31/2014, 9/29/2015, 11/24/2015, and 5/3/2016. **SC Housing Corp., SC HELP, Reports, Quarterly Performance Reports, Q1 2016, no date. 168 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 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: $35 Million (22% of total HHF Alabama allocation) Eligibility: Residential properties (excluding multifamily) as well as “mixed use” properties,xxv 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: 1,500 properties Cumulative Program Activity Reported by HHF Alabama (as of 3/31/2016):** 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 3/31/2016** Most Recent Quarter Cumulative Applications Submitted 0 12 Properties Demolished/Removed 0 0 Demolished in Most Recent Quarter Demolished, Cumulative City/County Partnera Birmingham Greater Birmingham Habitat for Humanity 0 0 Alabama Alabama Association of Habitat for Humanity 0 0 Hale County Habitat for Humanity of Hale County 0 0 Autauga County Habitat for Humanity of Autauga and Chilton County 0 0 Chilton County Habitat for Humanity of Autauga and Chilton County 0 0 a Alabama Housing Finance Authority. * Alabama Housing Finance Authority, Ninth, Tenth, and Eleventh Amendments to Agreement, 1/31/2015, 10/28/2015, and 6/30/2016. ** Alabama Housing Finance Authority, Treasury Reports, Quarterly Performance Report, Q1 2016, no date. xxv Alabama Housing Finance Authority Blight Elimination Program manual, 11/3/2014. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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: $10 Million (3% 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 Maximum assistance amount includes acquisition costs (if applicable); demolition and greening/improvement costs; and a one-time project management and maintenance fee to cover management and maintenance expenses for a period of three (3) years. TN Estimate: 400 properties (at the full cap of $25,000 per property) Cumulative Program Activity Reported by HHF Tennessee (as of 3/31/2016):** HHF Tennessee has filed a Blight Elimination Program activity report with Treasury, but reports no activity as of March 31, 2016. * Tennessee Housing Development Agency, Ninth, Tenth, and Eleventh Amendments to Agreement, 9/29/2015, 4/1/2016, and 6/28/2016. ** Tennessee Housing Development Agency, Treasury Reports, Quarterly Performance Report, Q1 2016, no date. 169 170 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.10 Alabama’s HHF Programs AL HHF EXPENDITURES, BY PROGRAM CATEGORY As of March 31, 2016, Treasury obligated $162,521,345 in HHF funds to Alabama.119 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.xxvi 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 March 31, 2016. As of that date, HHF Alabama had helped 4,597 individual homeowners with its HHF programs. This is 24% of homeowners who applied. HHF Alabama has denied 10% (1,857) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 64% (12,435) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF Alabama faced wait times averaging 84 days. The majority of homeowners who received assistance were helped with Alabama’s Unemployed Homeowners Program.120 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 54 homeowners. In addition to decreasing the number of homeowners it estimated helping, HHF Alabama has shifted $35 million of its HHF funds (22%) 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 168 of this Quarterly Report. As of March 31, 2016, HHF Alabama had only spent 23% of its HHF funds to help homeowners, the lowest amount of any state in the HHF program.121 The state’s HFA had drawn down $47 million (29%) of its HHF funds as of March 31, 2016, the most recent data available, and spent $37.3 million (23% of its obligated funds) to help homeowners.122 The remaining $9.5 million (6%) was spent on administrative expenses, and $0.9 million (1%) was held as cash-on-hand.123 No HHF funds have yet been spent on the Blight Elimination Program. Figures 4.11 and 4.12 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 March 31, 2016. PROGRAM THROUGH MARCH 31, 2016 3% 97% Unemployment ($36,216,852) Transition ($0) Modification ($1,116,498) Blight Elimination ($0) Source: Alabama Housing Finance Authority, Treasury Reports, Quarterly Performance Report Q1 2016, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). xxvi its press release announcing the allocation of $2 billion to HHF, Treasury stated: “As of February 15, 2016, HHF Alabama has In utilized approximately 29 percent of its existing allocation, and is therefore ineligible for funding in the first phase of Fifth Round Funding.” QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 4.11 HHF ALABAMA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 3/31/2016 20,000 As of 3/31/2016: Estimate: 7,100 (Peak: 13,500) Homeowner Applications: 19,348 Homeowners Assisted: 4,597 Homeowner Admission Rate: 24% 15,000 10,000 5,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 Q4 2011 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 2012 Q2 2013 Q3 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Q1 2016 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 3/31/2016; Alabama Housing Finance Authority, Quarterly Performance Reports Q1 2011–Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012–Q1 2016, no date. 171 172 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.12 HHF ALABAMA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 HARDEST HIT FOR ALABAMA'S UNEMPLOYED HOMEOWNERS (UNEMPLOYMENT)–SEPTEMBER 2010 As of 3/31/2016: Estimate: 5,500 (Peak: 13,500) Homeowner Applications: 16,884 Program Participation:4,546 Homeowner Admission Rate: 27% 20,000 16,000 12,000 SHORT SALE ASSISTANCE PROGRAM (TRANSITION)– MARCH 2013 1,600 1,200 800 8,000 400 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 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 2,000 2012 2013 2014 2015 2016 Program Participation Homeowner Applications LOAN MODIFICATION ASSISTANCE PROGRAM (MODIFICATION)–MARCH 2013 3,000 2011 State Estimated Program Participation Program Participation Homeowner Applications 4,000 As of 3/31/2016: Estimate: 400 (Peak: 1,500) Homeowner Applications: 132 Program Participation: 0 Homeowner Admission Rate: 0% BLIGHT ELIMINATION PROGRAM (BLIGHT)– SEPTEMBER 2014 1,000 As of 3/31/2016: Estimate: 1,200 (Peak: 1,200) Homeowner Applications: 2,934 Program Participation: 54 Homeowner Admission Rate: 2% 800 As of 3/31/2016: Blighted homes proposed to be demolished: 1,000 Actual blighted homes demolished: 0 600 400 1,000 200 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 Q1 2010 2011 2012 2013 State Estimated Program Participation Homeowner Applications 2014 2015 Program Participation 2016 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 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 3/31/2016; Alabama Housing Finance Authority, Quarterly Performance Reports Q1 2011–Q1 2016, no date. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Arizona’s HHF Programs FIGURE 4.13 As of March 31, 2016, Treasury obligated $296,048,525 in HHF funds to Arizona.124,xxvii 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 March 31, 2016. As of that date, HHF Arizona had helped 4,350 individual homeowners with its HHF programs. This is 25% of homeowners who applied. HHF Arizona has denied 68% (11,789) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 6% (1,127) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF Arizona faced wait times ranging from 50 to 129 days, depending on the program. Of those Arizona homeowners who did receive assistance, the largest numbers received help from 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.125 As of March 31, 2016, the state’s HFA had drawn down $174.6 million (59%) of its HHF funds.126 As of March 31, 2016, the most recent data available, HHF Arizona had spent $142.3 million (48% of its obligated funds) to help homeowners.127 The remaining $20.9 million (7%) was spent on administrative expenses, and $13.0 million (4%) was held as cash-on-hand.128 Figures 4.14 and 4.15 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 March 31, 2016. AZ HHF EXPENDITURES, BY PROGRAM CATEGORY xxvii On February 19, 2016, Treasury announced $2 billion of TARP funds would be transferred to HHF and distributed to 18 of 19 HHF states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 2016, HHF Arizona was allocated $28.3 million. PROGRAM THROUGH MARCH 31, 2016 1% 55% 0% 37% 7% Modification ($67,982,064) Second-Lien Reduction ($9,154,132) Unemployment ($45,533,050) Transition ($848,958) Homebuyer Assistance ($0) Source: Arizona (Home) Foreclosure Prevention Funding Corporation, Hardest Hit Fund Reporting (quarterly performance reports), Quarterly Performance Report Q1 2016, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). 173 174 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.14 HHF ARIZONA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 3/31/2016 20,000 As of 3/31/2016: Estimate: 6,263 (Peak: 11,959) Homeowner Applications: 17,400 Homeowners Assisted: 4,350 Homeowner Admission Rate: 25% 15,000 10,000 5,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 Q4 2011 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 2012 Q2 2013 Q3 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 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 3/31/2016; Arizona (Home) Foreclosure Prevention Funding Corporation, Quarterly Performance Reports Q3 2010–Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012–Q1 2016, no date. Q1 2016 175 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 4.15 HHF ARIZONA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 PRINCIPAL REDUCTION ASSISTANCE (MODIFICATION)–JUNE 2010 SECOND MORTGAGE ASSISTANCE COMPONENT (SECOND-LIEN REDUCTION)–JUNE 2010 As of 3/31/2016: Estimate: 1,808 (Peak: 7,227) Program Participation:1,231 Homeowner Admission Rate: N/A* 8,000 6,000 As of 3/31/2016: Estimate: 407 (Peak: 1,875) Program Participation: 289 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 Q1 2016 2014 2015 2016 Program Participation SHORT SALE ASSISTANCE COMPONENT (TRANSITION)–MAY 2011 1,200 As of 3/31/2016: Estimate: 3,885 (Peak: 4,140) Program Participation: 3,072 Homeowner Admission Rate: N/A* As of 3/31/2016: Estimate: 163 (Peak: 1,200) Program Participation: 139 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 2010 2011 2012 2013 State Estimated Program Participation Program Participation 2014 2015 2016 Program Participation DOWN PAYMENT ASSISTANCE (HOMEBUYER ASSISTANCE) 5,000 As of 3/31/2016: 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 3/31/2016; Arizona (Home) Foreclosure Prevention Funding Corporation, Quarterly Performance Reports Q3 2010 - Q1 2016, no date. 176 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.16 California’s HHF Programs CA HHF EXPENDITURES, BY PROGRAM CATEGORY As of March 31, 2016, Treasury obligated $2,188,824,073 in HHF funds to California, however, on April 20, 2016, Treasury increased that amount by $169,769,247 bringing California’s total to $2,358,590,320.129,xxviii 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 March 31, 2016. As of that date, HHF California had helped 58,848 individual homeowners with its HHF programs, This is 41% of homeowners who applied. HHF California has denied 28% (40,180) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 28% (40,192) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF California faced wait times ranging from 41 to 111 days, depending on the program. For those homeowners receiving assistance, the largest number of homeowners received assistance from California’s unemployment and past due payment assistance programs.130 As of March 31, 2016, 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).131 Both defunded programs ended without helping a single homeowner. As of March 31, 2016, California’s HFA had drawn down $1,862.6 million (79%) of its HHF funds.132 As of March 31, 2016, HHF California had spent $1,325.6 million (56% of its obligated funds) to help homeowners.133 The remaining $136.6 million (6%) was spent on administrative expenses, and $440.2 million (19%) was held as cash-on-hand.134 Figures 4.17 and 4.18 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 March 31, 2016. PROGRAM THROUGH MARCH 31, 2016 0.04% 0.26% 12.17% 49.25% 38.27% Unemployment ($652,957,781) Modification ($507,382,829) Past-Due Payment ($161,401,248) Transition ($3,426,625) Second-Lien Reduction ($589,210) Source: CalHFA Mortgage Assistance Corporation, “Keep Your Home California, Reports & Statistics, Quarterly Reports,” Quarterly Performance Reports Q1 2016, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). xxviii On February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 2016, HHF Califronia was allocated $213.5 million. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 4.17 HHF CALIFORNIA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 3/31/2016 150,000 As of 3/31/2016: Estimate: 73,800 (Peak: 101,337) Homeowner Applications: 143,425 Homeowners Assisted: 58,848 Homeowner Admission Rate: 41% 120,000 90,000 60,000 30,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 Q4 2011 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 2012 Q2 2013 Q3 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Q1 2016 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 3/31/2016; CalHFA Mortgage Assistance Corporation, Quarterly Performance Reports Q4 2010 – Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. 177 178 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.18 HHF CALIFORNIA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 UNEMPLOYMENT MORTGAGE ASSISTANCE PROGRAM (UNEMPLOYMENT)–JUNE 2010 As of 3/31/2016: Estimate: 47,800 (Peak: 60,531) Homeowner Applications: 81,460 Program Participation: 47,307 Homeowner Admission Rate: 58% 90,000 75,000 MORTGAGE REINSTATEMENT ASSISTANCE PROGRAM (PAST-DUE PAYMENT)–JUNE 2010 60,000 60,000 45,000 45,000 30,000 30,000 15,000 15,000 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 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 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2010 2016 40,000 2014 2015 2016 Program Participation As of 3/31/2016: Estimate: 1,000 (Peak: 6,471) Homeowner Applications: 2,251 Program Participation: 963 Homeowner Admission Rate: 43% 10,000 8,000 6,000 30,000 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 2016 Program Participation Homeowner Applications COMMUNITY SECOND MORTGAGE PRINCIPAL REDUCTION PROGRAM (SECOND-LIEN REDUCTION)– AUGUST 2011 REVERSE MORTGAGE ASSISTANCE PILOT PROGRAM (PAST-DUE PAYMENT)–SEPTEMBER 2014 500 2,000 375 125 2013 TRANSITION ASSISTANCE PROGRAM (TRANSITION)–JUNE 2010 As of 3/31/2016: Estimate: 10,700 (Peak: 25,135) Homeowner Applications: 59,803 Program Participation: 8,448 Homeowner Admission Rate: 14% 50,000 2012 Homeowner Applications PRINCIPAL REDUCTION PROGRAM (MODIFICATION)– JUNE 2010 60,000 2011 State Estimated Program Participation Program Participation Homeowner Applications 250 As of 3/31/2016: Estimate: 13,100 (Peak: 17,293) Homeowner Applications: 63,005 Program Participation: 10,819 Homeowner Admission Rate: 17% 75,000 As of 3/31/2016: Estimate: 830 (Peak: 2,100) Homeowner Applications: 1,433 Program Participation: 328 Homeowner Admission Rate: 23% 1,500 As of 3/31/2016: Estimate: 370 (Peak: 370) Homeowner Applications: 42 Program Participation: 34 Homeowner Admission Rate: 81% 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 2016 Program Participation Homeowner Applications LOS ANGELES HOUSING DEPARTMENT PRINCIPAL REDUCTION PROGRAM (MODIFICATION)– AUGUST 2011 NEIGHBORWORKS SACRAMENTO SHORT SALE GATEWAY PROGRAM (TRANSITION)–AUGUST 2011 200 100 75 Program Ended September 2013 As of 3/31/2016: Estimate: 0 (Peak: 91) Homeowner Applications: 0 Program Participation: 0 Homeowner Admission Rate: 0% 50 25 150 100 50 As of 3/31/2016: 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 Q1 2010 2011 2012 2013 State Estimated Program Participation Homeowner Applications 2014 2015 Program Participation 2016 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 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 3/31/2016; CalHFA Mortgage Assistance Corporation, Quarterly Performance Reports Q4 2010 – Q1 2016, no date. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Florida’s HHF Programs FIGURE 4.19 As of March 31, 2016, Treasury obligated $1,135,735,674 of HHF funds to Florida.135,xxix 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 March 31, 2016. As of that date, HHF Florida had helped 25,588 individual homeowners through its HHF programs. This is 21% of homeowners who applied. HHF Florida has denied 26% (31,474) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 42% (51,256) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF Florida faced wait times ranging from 159 to 226 days, depending on the program. Of those who received assistance, the largest numbers received assistance from Florida’s unemployment and reinstatement programs.136 HHF Florida had also provided HHF assistance to 1,296 homebuyers through its down payment assistance program. Approved in April 2013, HHF Florida’s Modification Enabling Program had only assisted 181 homeowners in more than three years, as of March 31, 2016. As of March 31, 2016, the state’s HFA had drawn down $744 million (66%) of its HHF funds.137 As of March 31, 2016, the most recent data available, HHF Florida had spent $579.5 million (51% of its obligated funds) to help homeowners, and $19.2 million (1.7%) to help homebuyers.138 The remaining $61.4 million (5%) was spent on administrative expenses, and $89.5 million (8%) was held as cash-on-hand.139 Figures 4.20 and 4.21 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 March 31, 2016. FL HHF EXPENDITURES, BY PROGRAM CATEGORY xxix February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 On HHF states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 2016, HHF Florida was allocated $77.9 million. PROGRAM THROUGH MARCH 31, 2016 3.2% 26.3% 41.3% 29.2% Past-Due Payment ($157,293,780) Unemployment ($174,899,059) Modification ($247,323,581) Homebuyer Assistance ($19,228,890) Source: Housing Finance Corporation, Florida Hardest Hit Fund (HHF) Information, Quarterly Reports, Quarterly Performance Report Q1 2016, 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 4.20 HHF FLORIDA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 3/31/2016 150,000 120,000 90,000 As of 3/31/2016: Estimate: 37,800 (Peak: 106,000) Homeowner Applications: 121,747 Homeowners Assisted: 25,588 Homeowner Admission Rate: 21% 60,000 30,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 Q4 2011 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 2012 Q2 2013 Q3 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 3/31/2016; Florida Housing Finance Corporation, Quarterly Performance Reports Q3 2010 – Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. Q1 2016 181 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 4.21 HHF FLORIDA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 UNEMPLOYMENT MORTGAGE ASSISTANCE PROGRAM (UNEMPLOYMENT)–JUNE 2010 As of 3/31/2016:(Peak: 53,000) Estimate: 25,000* 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 Homeowner Applications: 80,551 Program Participation: 16,556 Homeowner Admission Rate: 21% 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 As of 3/31/2016: Estimate: 25,000* (Peak: 53,000) Homeowner Applications: 80,944 Program Participation: 16,134 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 Q1 2016 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 2016 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 3/31/2016: Estimate: 1,100 (Peak: 1,500) Homeowner Applications: 286 Program Participation: 181 Homeowner Admission Rate: 63% 1,500 1,000 500 As of 3/31/2016: Estimate: 10,000 (Peak: 10,000) Homeowner Applications: 38,951 Program Participation: 5,858 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 2016 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 3/31/2016: Estimate: 1,700 (Peak: 2,500) Homeowner Applications: 4,370 Program Participation: 894 Homeowner Admission Rate: 20% 2,000 1,000 As of 3/31/2016: Estimate: 3,333 (Peak: 3,333) Homebuyer Applications: 1,398 Homebuyers Assisted: 1,296 Homebuyer Admission Rate: 93% 2,400 1,600 800 0 Program approved: April 2 Peak estimate: 3,333 6/30/15 estimate: 3,333 6/30/15 program particip 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 2010 2011 2012 2013 State Estimated Program Participation Homeowner Applications 2014 2015 Program Participation 2016 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 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 3/31/2016; Florida Housing Finance Corporation, Quarterly Performance Reports Q3 2010 - Q1 2016, no date. 182 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.22 Georgia’s HHF Programs GA HHF EXPENDITURES, BY PROGRAM CATEGORY As of March 31, 2016.Treasury obligated $370,136,394 in HHF funds to Georgia.140,xxx 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 March 31, 2016. As of that date, HHF Georgia had helped 7,814 individual homeowners through its HHF programs. This is 30% of homeowners who applied. HHF Georgia has denied 40% (10,444) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 28% (7,401) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF Georgia faced wait times ranging from 156 to 187 days, depending on the program. Of those who received assistance, the vast majority received assistance from Georgia’s unemployment program.141 As of March 31, 2016, HHF Georgia’s Recast/Modification program had helped only 39 homeowners (compared to an estimate of 1,000), and its Mortgage Reinstatement program had assisted only 312 homeowners (compared to a current estimate of 2,800), since those programs were approved in December 2013. As of March 31, 2016, the state’s HFA had drawn down $194 million (52%) of its HHF funds.142 As of March 31, 2016, the most recent data available, HHF Georgia had spent $143.5 million (39% of its obligated funds) to help homeowners.143 The remaining $26.8 million (7%) was spent on administrative expenses, and $25.2 million (7%) was held as cash-on-hand.144 Figures 4.23 and 4.24 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 March 31, 2016. PROGRAM THROUGH MARCH 31, 2016 0.8% 2.1% 97.1% Unemployment ($139,296,311) Past-Due Payment ($3,040,353) Modification ($1,129,291) Source: GHFA Affordable Housing Inc., HomeSafe Georgia, US Treasury Reports, Quarterly Performance Report Q1 2016, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). xxx February 19, 2016, Treasury announced $2 billion of TARP funding would be transferred to HHF and distributed to 18 of 19 On HHF states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 2016, HHF Georgia was allocated $30.9 million. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 4.23 HHF GEORGIA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 3/31/2016 30,000 25,000 20,000 15,000 As of 3/31/2016: Estimate: 12,800 (Peak: 18,300) Homeowner Applications: 26,272 Homeowners Assisted: 7,814 Homeowner Admission Rate: 30% 10,000 5,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 Q4 2011 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 2012 Q2 2013 Q3 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Q1 2016 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 3/31/2016; GHFA Affordable Housing Inc., Quarterly Performance Reports Q4 2010 - Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. 183 184 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.24 HHF GEORGIA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 MORTGAGE PAYMENT ASSISTANCE (UNEMPLOYMENT)–SEPTEMBER 2010 50,000 MORTGAGE REINSTATEMENT PROGRAM (PAST-DUE PAYMENT)–DECEMBER 2013 5,000 As of 3/31/2016: Estimate: 9,000 (Peak: 18,300) Homeowner Applications: 25,817 Program Participation: 7,466 Homeowner Admission Rate: 29% 40,000 30,000 4,000 As of 3/31/2016: Estimate: 2,800 (Peak: 5,000) Homeowner Applications: 375 Program Participation: 312 Homeowner Admission Rate: 83% 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 2016 Program Participation Homeowner Applications RECAST/MODIFICATION (MODIFICATION)– DECEMBER 2013 1,000 As of 3/31/2016: Estimate: 1,000 (Peak: 1,000) Homeowner Applications: 83 Program Participation: 39 Homeowner Admission Rate: 47% 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 3/31/2016; GHFA Affordable Housing Inc., Quarterly Performance Reports Q4 2010 - Q1 2016, no date. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Illinois’s HHF Programs FIGURE 4.25 As of March 31, 2016, Treasury obligated $563,778,057 in HHF funds to Illinois, however, on April 20, 2016, Treasury increased that amount by $151,299,560 bringing Illinois’ total allocation to $715,077,617.145,xxxi 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 March 31, 2016. As of that date, HHF Illinois had helped 14,034 individual homeowners through its HHF programs. This is 68% of homeowners who applied. HHF Illinois has denied 20% (4,167) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 11% (2,198) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF Illinois faced wait times ranging from 67 to 165 days, depending on the program. Of those receiving assistance, most received assistance from Illinois’ unemployment and down payment assistance programs. HHF Illinois had also provided HHF assistance to 1,119 homebuyers through its down payment assistance program.146 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 June 30, 2016, was again accepting applications for select programs.147 In addition to decreasing the number of homeowners it estimated helping, HHF Illinois has shifted $17 million (2%) of its HHF funds away from existing HHF programs to blight elimination, as well as $73 million to the down payment assistance program. 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 164-165, and the down payment assistance program on pages 145-149 of this Quarterly Report. As of March 31, 2016, the state’s HFA had drawn down $445.6 million (62%) of its HHF funds.148 As of March 31, 2016, the most recent data available, HHF Illinois had spent $337.7 million (47% of its obligated funds) to help homeowners and $8.4 million to help homebuyers.149 The remaining $35.1 million (5%) was spent on administrative expenses, and $76.3 million (11%) was held as cash-onhand.150 As of March 31, 2016 Illinois had spent $267,254 on demolishing 10 blighted properties.151 Figures 4.26 and 4.27 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 March 31, 2016. IL HHF EXPENDITURES, BY PROGRAM CATEGORY xxxi February 19, 2016, Treasury announced $2 billion of TARP funding would be transferred to HHF and distributed to 18 of 19 On HHF states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 2016, HHF Illinois was allocated $118.2 million. PROGRAM THROUGH MARCH 31, 2016 0.1% 2.4% 15.2% 82.3% Unemployment ($285,038,316) Modification ($52,686,840) Blight Elimination ($267,254) Homebuyer Assistance ($8,392,500) Source: Illinois Housing Development Authority, Illinois Hardest Hit Program, Reporting, Quarterly Performance Report Q1 2016, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). 185 186 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.26 HHF ILLINOIS PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 3/31/2016 30,000 25,000 20,000 15,000 As of 3/31/2016: Estimate: 13,500 (Peak: 29,000) Homeowner Applications: 20,511 Homeowners Assisted: 14,034 Homeowner Admission Rate: 68% 10,000 5,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 Q4 2011 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 2012 Q2 2013 Q3 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Q1 2016 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 3/31/2016; Illinois Housing Development Authority, Quarterly Performance Reports Q1 2011 – Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. 187 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 4.27 HHF ILLINOIS ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 Program approved: September 2010 Peak estimate: 27,000 6/30/15 estimate: 12,000 6/30/15 program participation: 13,324 HARDEST HIT FUND HOMEOWNER EMERGENCY LOAN PROGRAM (UNEMPLOYMENT)– As of 3/31/2016: SEPTEMBER 2010 MORTGAGE RESOLUTION FUND PROGRAM (MODIFICATION)–AUGUST 2011 Estimate: 12,000 (Peak: 27,000) Homeowner Applications: 19,563 Program Participation: 13,442 Homeowner Admission Rate: 69% 30,000 25,000 20,000 2,000 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 2013 2014 2015 2016 Program Participation HARDEST HIT FUND BLIGHT REDUCTION PROGRAM (BLIGHT)–APRIL 2014 Program approved: April 2 6/30/15 blighted homes p 6/30/15 actual blighted ho 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 3/31/2016: Estimate: 1,000 (Peak: 2,000) Homeowner Applications: 441 Program Participation: 170 Homeowner Admission Rate: 39% 1,500 15,000 As of 3/31/2016: Estimate: 500 (Peak: 500) Homeowner Applications: 621 Program Participation: 527 Homeowner Admission Rate: 85% 75 As of 3/31/2016: Blighted homes proposed to be demolished: 50 Actual blighted homes demolished: 10 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 2016 Program Participation Homeowner Applications HARDEST HIT FUND DOWN PAYMENT ASSISTANCE PROGRAM (HOMEBUYER ASSISTANCE) – JULY 2015 4,000 3,000 As of 3/31/2016: Estimate: 4,000 (Peak: 4,000) Homebuyer Applications: 3,518 Homebuyers Assisted: 1,119 Homebuyer Admission Rate: 32% 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 3/31/2016; Illinois Housing Development Authority, Quarterly Performance Reports Q1 2011 – Q1 2016, no date. 188 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.28 Indiana’s HHF Programs IN HHF EXPENDITURES, BY PROGRAM CATEGORY As of March 31, 2016, Treasury obligated $250,259,462 in HHF funds to Indiana, however, on April 20, 2016, Treasury increased that amount by $33,454,975, bringing Indiana’s total allocation to $283,714,437.152,xxxii 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 March 31, 2016. As of that date, HHF Indiana had helped 7,432 individual homeowners through its HHF programs. This is 80% of homeowners who applied. HHF Indiana has denied 6% (571) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 10% (947) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF Indiana faced wait times ranging from 135 to 291 days, depending on the program. Of those who received assistance, the largest number received assistance from Indiana’s unemployment program. HHF Indiana’s Recast Program, which began in March 2013, had only 130 participants, while the Transition Assistance Program, also started on the same date, had just 14 participants.153 In addition to decreasing the number of homeowners it estimated helping, HHF Indiana has shifted $75 million (26%) 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 159-162 of this Quarterly Report. As of March 31, 2016, the state’s HFA had drawn down $146.6 million (52%) of its HHF funds.154 As of March 31, 2016, the most recent data available, HHF Indiana had spent $104.1 million (37% of its obligated funds) to help homeowners.155 HHF Indiana had also spent $7.5 million to demolish 590 properties as of March 31, 2016.156 The remaining $26 million (9%) was spent on administrative expenses, and $9.9 million (3%) was held as cash-on-hand.157 Figures 4.29 and 4.30 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 March 31, 2016. PROGRAM THROUGH MARCH 31, 2016 6.75% 0.04% 3.29% 89.91% Unemployment ($100,385,865) Modification ($3,676,255) Transition ($49,165) Blight Elimination ($7,535,845) Source: Indiana Housing and Community Development Authority, Indiana’s Hardest Hit Fund, Quarterly Reports to the U.S. Treasury, Quarterly Performance Report Q1 2016, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). xxxii February 19, 2016, Treasury announced $2 billion of TARP funding would be transferred to HHF and distributed to 18 of 19 On HHF states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 2016, HHF Indiana was allocated $28.6 million. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 4.29 HHF INDIANA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 3/31/2016 20,000 15,000 10,000 As of 3/31/2016: Estimate: 10,184 (Peak: 16,257) Homeowner Applications: 9,245 Homeowners Assisted: 7,432 Homeowner Admission Rate: 80% 5,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 Q4 2011 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 2012 Q2 2013 Q3 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 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 3/31/2016; Indiana Housing and Community Development Authority, Quarterly Performance Reports Q2 2011 – Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. Q1 2016 189 190 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.30 HHF INDIANA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 HARDEST HIT FUND UNEMPLOYMENT BRIDGE PROGRAM (UNEMPLOYMENT)–SEPTEMBER 2010 HARDEST HIT FUND RECAST/MODIFICATION PROGRAM (MODIFICATION)–MARCH 2013 As of 3/31/2016: Estimate: 8,000 (Peak: 16,257) Homeowner Applications: 8,846 Program Participation: 7,288 Homeowner Admission Rate: 82% 20,000 15,000 2,000 1,500 10,000 5,000 As of 3/31/2016: Estimate: 2,000 (Peak: 2,000) Homeowner Applications: 471 Program Participation: 130 Homeowner Admission Rate: 28% 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 Homeowner Applications 50 2013 2014 2015 2016 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 3/31/2016: Estimate: 184 (Peak: 184) Homeowner Applications: 49 Program Participation: 14 Homeowner Admission Rate: 29% 3,000 2,000 As of 3/31/2016: Blighted homes proposed to be demolished: 5,000 Actual blighted homes demolished: 590 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 Q1 2010 2011 2012 2013 State Estimated Program Participation Homeowner Applications 2014 2015 Program Participation 2016 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 2010 2011 2012 2013 State Estimated Program Participation 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 3/31/2016; Indiana Housing and Community Development Authority, Quarterly Performance Reports Q2 2011 – Q1 2016, no date. 2016 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Kentucky’s HHF Program FIGURE 4.31 As of March 31, 2016, Treasury obligated $179,050,120 in HHF funds to Kentucky, however, on April 20, 2016, Treasury increased that amount by $27,955,713, bringing Kentucky’s total allocation to $207,005,833.158,xxxiii 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 March 31, 2016. As of that date, HHF Kentucky had helped 8,042 individual homeowners. This is 67% of homeowners who applied. HHF Kentucky has denied 18% (2,093) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 11% (1,275) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF Kentucky faced wait times averaging 50 days. For those homeowners receiving assistance, most received assistance through Kentucky’s unemployment program. On June 1, 2016, Treasury increased the allocation for HHF Kentucky’s down payment assistance program, bringing the total for that program to $24.3 million. Kentucky estimates helping a total of 2,166 homebuyers with this program.159 Kentucky has reopened its application portal, as of June 30, 2016, and is accepting applications under select HHF programs. As of March 31, 2016, the state’s HFA had drawn down $144.5 million (70%) of its HHF funds and spent $104.9 million (51% of its obligated funds) to help homeowners.160 In addition, Kentucky spent $7 million through its downpayment assistance program helping 486 homebuyers. The remaining $14.4 million (7%) was spent on administrative expenses, and $20.2 million (10%) was held as cash-on-hand.161 Figures 4.32 and 4.33 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 March 31, 2016. KY HHF EXPENDITURES, BY PROGRAM CATEGORY xxxiii February 19, 2016, Treasury announced $2 billion of TARP funding would be transferred to HHF and distributed to 18 of 19 On HHF states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 2016, HHF Kentucky was allocated $30.1 million. PROGRAM THROUGH MARCH 31, 2016 6% 94% Unemployment ($104,925,047) Homebuyer Assistance ($6,963,237) Source: Kentucky Housing Corporation, Quarterly Performance Report Q1 2016 (may differ from cash disbursements reported on the state’s Quarterly Financial Report). 191 192 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.32 HHF KENTUCKY PROGRAM PERFORMANCE, ALL HFF PROGRAMS, AS OF 3/31/2016 15,000 12,000 9,000 As of 3/31/2016: Estimate: 8,241 (Peak: 15,000) Homeowner Applications: 11,929 Homeowners Assisted: 8,042 Homeowner Admission Rate: 67% 6,000 3,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 Q4 2011 Q1 Q2 Q3 Q4 Q1 2012 State Estimated Program Participation Q2 Q3 Q4 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 2015 Q1 2016 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 3/31/2016; Kentucky Housing Corporation, Quarterly Performance Reports Q4 2010 – Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. FIGURE 4.33 HHF KENTUCKY ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 UNEMPLOYMENT BRIDGE PROGRAM (UNEMPLOYMENT)–SEPTEMBER 2010 HARDEST HIT FUND DOWN PAYMENT ASSISTANCE PROGRAM (HOMEBUYER ASSISTANCE) –OCTOBER 2015 As of 3/31/2016: Estimate: 8,241 (Peak: 15,000) Homeowner Applications: 11,929 Program Participation: 8,042 Homeowner Admission Rate: 67% 25,000 20,000 500 400 15,000 10,000 200 5,000 As of 3/31/2016: Estimate: 467 (Peak: 467) Homebuyer Applications: 486 Homebuyers Assisted: 486 Homebuyer Admission Rate: 100% 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 Q1 2010 2011 2012 2013 State Estimated Program Participation Homebuyer Applications 2014 2015 Program Participation 2016 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 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 3/31/2016; Kentucky Housing Corporation, Quarterly Performance Reports Q4 2010 - Q1 2016, no date. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Michigan’s HHF Programs FIGURE 4.34 As of March 31, 2016. Treasury obligated $573,097,554 in HHF funds to Michigan however, on April 20, 2016, Treasury increased that amount by $188,106,491, bringing Michigan’s total to $761,204,045.162,xxxiv 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 March 31, 2016. As of that date, HHF Michigan had helped 30,682 individual homeowners through its HHF programs. This is 49% of homeowners who applied. HHF Michigan has denied 29% (18,137) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 20% (12,408) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF Michigan faced wait times ranging from 96 to 158 days, depending on the program. For those homeowners receiving assistance, most received it through Michigan’s unemployment and past-due payment assistance programs.163 As of June 30, 2016, HHF Michigan had reopened its application portal and is accepting new applications for select HHF programs. In addition to decreasing the number of homeowners it estimated helping, as of June 30, 2016, HHF Michigan has shifted $381.2 million (50%) of its HHF funds away from existing HHF programs to blight elimination.164 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 153-155 of this Quarterly Report. As of March 31, 2016, the state’s HFA had drawn down $440.8 million (58%) of its HHF funds.165 As of March 31, 2016, the most recent data available, HHF Michigan had spent $241.9 million (32% of its obligated funds) to help homeowners; it had also spent $130.4 million (17%) to demolish 8,531 vacant properties.166 The remaining $32.9 million (4%) was spent on administrative expenses, and $39.9 million (5%) was held as cash-on-hand.167 Figures 4.35 and 4.36 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 March 31, 2016. MI HHF EXPENDITURES, BY PROGRAM CATEGORY xxxiv February 19, 2016, Treasury announced $2 billion of TARP funding would be transferred to HHF and distributed to 18 of 19 On HHF states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 2016, HHF Michigan was allocated $74.5 million. PROGRAM THROUGH MARCH 31, 2016 43% 35% 19% 3% Past-Due Payment ($159,809,726) Modification ($11,389,792) Unemployment ($70,703,416) Blight Elimination ($130,364,016) Source: Michigan Homeowner Assistance Nonprofit Housing Corporation, Hardest Hit U.S. Treasury Reports, Quarterly Performance Reports Q1 2016, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). 193 194 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.35 HHF MICHIGAN PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 3/31/2016 80,000 As of 3/31/2016: Estimate: 8,542 (Peak: 49,422) Homeowner Applications: 62,193 Homeowners Assisted: 30,682 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 Q4 2011 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 2012 Q2 2013 Q3 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Q1 2016 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 3/31/2016; Michigan Homeowner Assistance Nonprofit Housing Corporation, Quarterly Performance Reports Q3 2010 - Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. 195 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 4.36 HHF MICHIGAN ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 PRINCIPAL CURTAILMENT PROGRAM (MODIFICATION)– JUNE 2010 As of 3/31/2016: Estimate: 300 (Peak: 3,044) Homeowner Applications: 1,493 Program Participation: 305 Homeowner Admission Rate: 20% 4,000 3,000 2,000 LOAN RESCUE PROGRAM (PAST-DUE PAYMENT)– JUNE 2010 As of 3/31/2016: Estimate: 5,220 (Peak: 21,760) Homeowner Applications: 47,518 Program Participation: 20,937 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 2016 Program Participation Homeowner Applications UNEMPLOYMENT MORTGAGE SUBSIDY PROGRAM (UNEMPLOYMENT)–JUNE 2010 MODIFICATION PLAN PROGRAM (MODIFICATION)– JUNE 2013 As of 3/31/2016: Estimate: 2,728 (Peak: 24,618) Homeowner Applications: 12,028 Program Participation: 9,086 Homeowner Admission Rate: 76% 25,000 20,000 15,000 1,250 1,000 750 10,000 500 5,000 As of 3/31/2016: Estimate: 294 (Peak: 825) Homeowner Applications: 1,154 Program Participation: 354 Homeowner Admission Rate: 31% 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 2016 Program Participation Homeowner Applications BLIGHT ELIMINATION PROGRAM (BLIGHT)–JUNE 2013 10,000 8,000 As of 3/31/2016: Blighted homes proposed to be demolished: 8,308 Actual blighted homes demolished: 8,531 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 3/31/2016; Michigan Homeowner Assistance Nonprofit Housing Corporation, Quarterly Performance Reports Q3 2010 - Q1 2016, no date. 196 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM Mississippi’s HHF Program As of March 31, 2016, Treasury obligated $121,228,363 in HHF funds to Mississippi, however, on April 20, 2016, Treasury increased that amount by $23,063,338 for a total allocation of $144,291,701.168,xxxv 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 March 31, 2016. As of that date, HHF Mississippi had helped 3,685 individual homeowners.169 This is 64% of homeowners who applied. HHF Mississippi has denied 24% (1,406) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 9% (496) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF Mississippi faced wait times averaging 109 days. As of March 31, 2016, the state’s HFA had drawn down $82.5 million (57%) of its HHF funds and spent $65.8 million (46% of its obligated funds) to help homeowners.170 The remaining $11 million (8%) was spent on administrative expenses, and $6 million (4%) was held as cash-on-hand.171 Figure 4.37 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 March 31, 2016. xxxv February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF On states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 201, HHF Mississippi was allocated $19.3 million. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 4.37 HHF MISSISSIPPI PROGRAM PERFORMANCE, AS OF 3/31/2016 As of 3/31/2016: Estimate: 3,500 (Peak: 3,800) Homeowner Applications: 5,767 Homeowners Assisted: 3,685 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 Q4 2011 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 2012 Q2 2013 Q3 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Q1 2016 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 3/31/2016; Mississippi Home Corporation, Quarterly Performance Reports Q4 2010 - Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. 197 198 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.38 Nevada’s HHF Programs NV HHF EXPENDITURES, BY PROGRAM CATEGORY As of March 31, 2016, Treasury obligated $202,911,881 in HHF funds to Nevada.172,xxxvi 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 March 31, 2016. As of that date, HHF Nevada had helped 5,382 individual homeowners. This is 37% of homeowners who applied. HHF Nevada has denied 22% (3,150) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 40% (5,783) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF Nevada faced wait times ranging from 66 to 129 days, depending on the program. For those homeowners receiving assistance, most received it through Nevada’s unemployment and principal reduction programs.173 As of March 31, 2016, 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.174 As of March 31, 2016, the state’s HFA had drawn down $112 million (55%) of its HHF funds.175 As of March 31, 2016, the most recent data available, HHF Nevada had spent $90 million (44% of its obligated funds) to help homeowners.176 The remaining $16.6 million (8%) was spent on administrative expenses, and $6.5 million (3%) was held as cash-on-hand.177 Figures 4.39 and 4.40 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 March 31, 2016. PROGRAM THROUGH MARCH 31, 2016 57.5% 36.1% 0.3% 6.1% Modification ($51,830,723) Second-Lien Reduction ($5,452,277) Transition ($289,179) Unemployment ($32,544,310) Source: Nevada Affordable Housing Assistance Corporation, Nevada Hardest Hit Fund, US Treasury Reports, Quarterly Performance Report Q1 2016, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). xxxvi February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 On HHF states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 2016, HHF Nevada was allocated $8.9 million. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 4.39 HHF NEVADA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 3/31/2016 25,000 As of 3/31/2016: Estimate: 8,026 (Peak: 23,556) Homeowner Applications: 14,392 Homeowners Assisted: 5,382 Homeowner Admission Rate: 37% 20,000 15,000 10,000 5,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 Q4 2011 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 2012 Q2 2013 Q3 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Q1 2016 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 March 31, 2016, Nevada reported 5,382 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 3/31/2016; Nevada Affordable Housing Assistance Corporation, Quarterly Performance Reports Q1 2011 – Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. 199 200 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.40 HHF NEVADA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 PRINCIPAL REDUCTION PROGRAM (MODIFICATION)– As of 3/31/2016: JUNE 2010 SECOND MORTGAGE REDUCTION PLAN (SECOND-LIEN REDUCTION)–JUNE 2010 Estimate: 2,550 (Peak: 3,016) Homeowner Applications: 3,125 Program Participation: 1,251 Homeowner Admission Rate: 40% 4,000 3,000 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 Q1 2010 2011 2012 2013 2014 State Estimated Program Participation 2015 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 2016 2010 2012 2013 2014 2015 2016 Program Participation Homeowner Applications SHORT-SALE ACCELERATION PROGRAM (TRANSITION)–JUNE 2010 2,000 MORTGAGE ASSISTANCE PROGRAM (UNEMPLOYMENT)–SEPTEMBER 2010 20,000 As of 3/31/2016: Estimate: 100 (Peak: 1,713) Homeowner Applications: 394 Program Participation: 104 Homeowner Admission Rate: 26% 1,500 1,000 As of 3/31/2016: Estimate: 3,900 (Peak: 16,969) Homeowner Applications: 9,858 Program Participation: 3,708 Homeowner Admission Rate: 38% 15,000 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 2016 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 3/31/2016: Estimate: 1,300 (Peak: 2,200) Homeowner Applications: 1,748 Program Participation: 432 Homeowner Admission Rate: 25% 3,000 800 As of 3/31/2016: Estimate: 176 (Peak: 416) Homeowner Applications: 236 Program Participation: 226 Homeowner Admission Rate: 96% 600 400 200 0 As of 3/31/2016: 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 2016 Program Participation Homeowner Applications NEVADA RECAST REFINANCE AND MODIFICATION PROGRAM (MODIFICATION)–JUNE 2014 1,000 750 As of 3/31/2016: 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 3/31/2016; Nevada Affordable Housing Assistance Corporation, Quarterly Performance Reports Q1 2011 - Q1 2016, no date. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 New Jersey’s HHF Program FIGURE 4.41 As of March 31, 2016, Treasury obligated $369,779,445 in HHF funds to New Jersey, however, on April 20, 2016, Treasury increased that amount by $45,354,517 bringing New Jersey’s total allocation to $415,133,962.178,xxxvii 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 March 31, 2016. As of that date, HHF New Jersey had helped 6,057 individual homeowners. This is 44% of homeowners who applied. HHF New Jersey has denied 54% (7,398) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 1% (139) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF New Jersey faced wait times ranging from 139 to 188 days, depending on the program. For those homeowners receiving assistance, most received it through New Jersey’s unemployment program.179 According to Treasury, HHF New Jersey had previously stopped accepting new applications from homeowners after November 30, 2013, but, as of June 30, 2016, was again accepting applications under select programs.180 As of March 31, 2016, HHF New Jersey had drawn down $270.5 million (65%) of its HHF funds and spent $232.7 million (56%) of its obligated funds on program expenses to help homeowners.181 The remaining $24.8 million (6%) was spent on administrative expenses, and $16.8 million (4%) was held as cash-on-hand.182 Figures 4.42 and 4.43 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 March 31, 2016. NJ HHF EXPENDITURES, BY PROGRAM CATEGORY xxxvii On February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 2016, HHF New Jersey was allocated $69.2 million. PROGRAM THROUGH MARCH 31, 2016 1.3% 98.7% Unemployment ($229,606,851) Modification ($3,118,729) Source: New Jersey Housing and Mortgage Finance Agency, The New Jersey HomeKeeper Program, About the Program, Performance Reports, Quarterly Performance Report Q1 2016, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). 201 202 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.42 HHF NEW JERSEY PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 3/31/2016 15,000 As of 3/31/2016: Estimate: 6,845 (Peak: 6,900) Homeowner Applications: 13,767 Homeowners Assisted: 6,057 Homeowner Admission Rate: 44% 12,000 9,000 6,000 3,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 Q4 2011 Q1 Q2 Q3 Q4 Q1 2012 State Estimated Program Participation Q2 Q3 Q4 2013 Q1 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 2015 Q1 2016 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 3/31/2016; New Jersey Housing and Mortgage Finance Agency, Quarterly Performance Reports Q3 2011 - Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. FIGURE 4.43 HHF NEW JERSEY ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 NEW JERSEY HOMEKEEPER PROGRAM (UNEMPLOYMENT ASSISTANCE)–SEPTMEBER 2010 NEW JERSEY HOME SAVER PROGRAM (MODIFICATION)–MAY 2015 As of 3/31/2016: Estimate: 6,500 (Peak: 6,900) Homeowner Applications: 13,093 Program Participation: 6,005 Homeowner Admission Rate: 46% 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 1,400 1,200 1,000 800 600 400 200 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 Q1 2010 2011 2012 2013 State Estimated Program Participation Homeowner Applications 2014 2015 Program Participation 2016 As of 3/31/2016: Estimate: 345 (Peak: 345) Homeowner Applications: 1,242 Program Participation: 75 Homeowner Admission Rate: 6% 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 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 3/31/2016; New Jersey Housing and Mortgage Finance Agency, Quarterly Performance Reports Q3 2011 - Q1 2016, no date. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 North Carolina’s HHF Programs FIGURE 4.44 As of March 31, 2016, Treasury obligated $560,798,231 in HHF funds to North Carolina, however, on April 20, 2016, Treasury increased that amount by $145,709,333, bringing North Carolina’s total allocation to $706,507,564.183,xxxviii 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 March 31, 2016. As of that date, HHF North Carolina had helped 21,633 individual homeowners. This is 67% of homeowners who applied. HHF North Carolina has denied 18% (6,000) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 13% (4,211) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF North Carolina faced wait times ranging from 62 to 113 days, depending on the program. For those homeowners receiving assistance, most received it through HHF North Carolina’s two unemployment programs.184 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 March 31, 2016. On June 1, 2016, Treasury approved allocating an additional $30 million of North Carolina’s HHF funds to its down payment assistance program, bringing the total for that program to $60 million. As of March 31, 2016, the state’s HFA had drawn down $482.8 million (68%) of its HHF funds and spent $366.4 million (52%) of their obligated funds on program expenses to help homeowners. In addition, as of March 31, 2016, North Carolina had spent $6.3 million on their DPA program to help 422 homebuyers.185 The remaining $60.7 million (9%) was spent on administrative expenses, and $58.1 million (8%) was held as cash-on-hand.186 Figures 4.45 and 4.46 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 March 31, 2016. NC HHF EXPENDITURES, BY PROGRAM CATEGORY xxxviii On February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 2016, HHF North Carolina was allocated $78 million. PROGRAM THROUGH MARCH 31, 2016 2% 1% 2% 95% Modification ($7,351,646) Second-Lien Reduction ($3,698,364) Unemployment ($355,384,407) Homebuyer Assistance ($6,330,000) Source: North Carolina Housing Finance Agency, Hardest Hit Fund & Performance Reporting, Quarterly Performance Report Q1 2016, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). 203 204 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.45 HHF NORTH CAROLINA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 3/31/2016 As of 3/31/2016: Estimate: 19,619 (Peak: 22,290) Homeowner Applications: 32,510 Homeowners Assisted: 21,663 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 Q4 2011 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 2012 Q2 2013 Q3 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Q1 2016 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 3/31/2016; North Carolina Housing Finance Agency, Quarterly Performance Reports Q3 2010 – Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. 205 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 4.46 HHF NORTH CAROLINA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 MORTGAGE PAYMENT PROGRAM-2 (UNEMPLOYMENT)–SEPTEMBER 2010 MORTGAGE PAYMENT PROGRAM-1 (UNEMPLOYMENT)–SEPTEMBER 2010 12,000 10,000 8,000 As of 3/31/2016: Estimate: 5,160 (Peak: 5,750) Homeowner Applications: 12,303 Program Participation: 6,143 Homeowner Admission Rate: 50% As of 3/31/2016: Estimate: 13,869 (Peak: 14,100) Homeowner Applications: 23,430 Program Participation: 15,382 Homeowner Admission Rate: 66% 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 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 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2010 2016 SECOND MORTGAGE REFINANCE PROGRAM (SECOND-LIEN REDUCTION)–SEPTEMBER 2010 2,000 2013 2014 2015 2016 Program Participation MODIFICATION ENABLING PILOT PROJECT (MODIFICATION)–DECEMBER 2013 As of 3/31/2016: Estimate: 240 (Peak: 2,000) Homeowner Applications: 382 Program Participation: 179 Homeowner Admission Rate: 47% 3,000 2012 Homeowner Applications Homeowner Applications 4,000 2011 State Estimated Program Participation Program Participation 1,000 As of 3/31/2016: Estimate: 50 (Peak: 800) Homeowner Applications: 29 Program Participation: 27 Homeowner Admission Rate: 93% 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 Homeowner Applications 1,000 250 2013 2014 2015 2016 Program Participation DOWN PAYMENT ASSISTANCE (HOMEBUYER ASSISTANCE)–JULY 2015 2,000 1,500 As of 3/31/2016: Estimate: 300 (Peak: 600) Homeowner Applications: 663 Program Participation: 145 Homeowner Admission Rate: 22% 500 2012 Homeowner Applications PRINCIPAL REDUCTION RECAST/LIEN EXTINGUISHMENT FOR UNAFFORDABLE MORTGAGES (MODIFICATION)–JUNE 2015 750 2011 State Estimated Program Participation Program Participation As of 3/31/2016: Estimate: 1,000 (Peak: 1,000) Homebuyer Applications: 1,067 Homebuyers Assisted: 422 Homebuyer Admission Rate: 40% 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 Program Participation Homeowner Applications 500 2013 2014 2015 2016 Program Participation PRINCIPAL REDUCTION RECAST PROGRAM (MODIFICATION)–AUGUST 2013 2,000 Program Ended August 2013 375 Program Ended December 2013 1,500 As of 3/31/2016: Estimate: 0 (Peak: 440) Program Participation: 0 Homeowner Admission Rate: 0% 125 2012 Homebuyer Applications PERMANENT LOAN MODIFICATION PROGRAM (MODIFICATION)–SEPTEMBER 2010 250 2011 State Estimated Program Participation As of 3/31/2016: 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 Q1 2010 2011 2012 2013 State Estimated Program Participation Homeowner Applications 2014 2015 Program Participation 2016 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 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 3/31/2016; North Carolina Housing Finance Agency, Quarterly Performance Reports Q3 2010 - Q1 2016, no date. 206 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.47 Ohio’s HHF Programs OH HHF EXPENDITURES, BY PROGRAM CATEGORY As of March 31, 2016, Treasury obligated $667,985,819, in HHF funds to Ohio, however, on April 20, 2016, Treasury increased that amount by $94,316,248 for a total allocation of $762,302,067.187,xxxix 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 March 31, 2016. As of that date, HHF Ohio had helped 24,533 individual homeowners. This is 71% of homeowners who applied. HHF Ohio has denied 14% (4,881) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 15% (5,365) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF Ohio faced wait times ranging from 197 to 366 days, depending on the program. For those homeowners receiving assistance, most received it through Ohio’s past due payment and unemployment programs. 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 March 31, 2016. According to Treasury, HHF Ohio had stopped accepting new applications from homeowners after April 30, 2014.188 In addition to decreasing the number of homeowners it estimated helping, HHF Ohio has shifted $238 million (31%) of its HHF funds away from existing HHF programs to blight elimination as of June 28, 2016.189 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 156-158 of this Quarterly Report. As of March 31, 2016, the state’s HFA had drawn down $540.4 million (71%) of its HHF funds.190 As of March 31, 2016, the most recent data available, HHF Ohio had spent $427 million (56% of its obligated funds) to help homeowners; it had also spent $24.9 million to demolish and remove 2,009 properties under its blight elimination program.191 The remaining $51.2 million (7%) was spent on administrative expenses, and $41.5 million (5%) was held as cash-on-hand.192 Figures 4.48 and 4.49 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 March 31, 2016. PROGRAM THROUGH MARCH 31, 2016 0.1% 39.9% 5.6% 38.5% 15.9% Past-Due Payment ($178,208,521) Modification ($70,813,710) Unemployment ($171,795,126) Transition ($360,966) Blight Elimination ($24,909,843) Source: Ohio Homeowner Assistance LLC, Save the Dream Ohio: Quarterly Reports, Quarterly Performance Report Q1 2016, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). xxxix February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 On HHF states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 2016, HHF Ohio was allocated $97.6 million. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 4.48 HHF OHIO PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 3/31/2016 80,000 70,000 60,000 50,000 As of 3/31/2016: 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 Q4 2011 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 2012 Q2 2013 Q3 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Q1 2016 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 3/31/2016; Ohio Homeowner Assistance LLC, Quarterly Performance Reports Q4 2010 – Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. 207 208 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.49 HHF OHIO ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 RESCUE PAYMENT ASSISTANCE PROGRAM (PAST-DUE PAYMENT)–SEPTEMBER 2010 MORTGAGE PAYMENT ASSISTANCE PROGRAM (UNEMPLOYMENT)–SEPTEMBER 2010 As of 3/31/2016: 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 3/31/2016: 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 2011 Homeowner Applications 2015 2016 6,000 As of 3/31/2016: 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 3/31/2016: 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 2016 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 3/31/2016: 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 3/31/2016: 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 Q1 2010 2011 2012 2013 State Estimated Program Participation Homeowner Applications 2014 2015 Program Participation 2016 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 2010 2011 2012 2013 State Estimated Program Participation Homeowner Applications 2014 2015 Program Participation 2016 209 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 HHF OHIO ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 (CONTINUED) HOMEOWNER STABILIZATION ASSISTANCE PROGRAM (MODIFICATION)–MARCH 2013 NEIGHBORHOOD INITIATIVE PROGRAM (BLIGHT)– AUGUST 2013 6,000 1,000 750 5,000 As of 3/31/2016: Estimate: 450 (Peak: 900) Homeowner Applications: 626 Program Participation: 123 Homeowner Admission Rate: 20% 500 250 4,000 3,000 2,000 As of 3/31/2016: Blighted homes proposed to be demolished: 5,000 Actual blighted homes demolished: 2,009 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 2016 Program Participation Homeowner Applications SHORT REFINANCE PROGRAM (TRANSITION)– DECEMBER 2010 8,000 As of 3/31/2016: 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 3/31/2016; Ohio Homeowner Assistance LLC, Quarterly Performance Reports Q4 2010 - Q1 2016, no date. 210 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.50 Oregon’s HHF Programs OR HHF EXPENDITURES, BY PROGRAM CATEGORY As of March 31, 2016, Treasury obligated $256,468,242 in HHF funds to Oregon, however, on April 20, 2016, Treasury increased that amount by $58,110,108, bringing Oregon’s total allocation to $314,578,350.193,xl 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 March 31, 2016. As of that date, HHF Oregon had helped 11,785 individual homeowners. This is 42% of homeowners who applied. HHF Oregon has denied 8% (2,158) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 51% (14,391) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF Oregon faced wait times ranging from 135 to 162 days, depending on the program. For those homeowners receiving assistance, most received it through Oregon’s past due payment and unemployment programs.194 As of March 31, 2016, 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 June 30, 2016, was again accepting applications for select programs.195 As of June 30, 2016, the state’s HFA had drawn down 70% of its HHF funds.196 As of March 31, 2016, the most recent data available, HHF Oregon had spent $200.6 million (64%) to help homeowners, $35.8 million (11%) on administrative expenses, and held $15.9 million (5%) as cash-on-hand.197 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 cashon-hand. As of March 31, 2016, Oregon’s HFA reported having recovered $28.5 million in funds from homeowners who left the program before their HHF award was fully forgiven (lien release), including under those programs.198 Figures 4.51 and 4.52 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 March 31, 2016. PROGRAM THROUGH MARCH 31, 2016 7% 23% 70% Past-Due Payment ($14,398,225) Unemployment ($139,718,439) Modification ($46,476,795) Source: Oregon Affordable Housing Assistance Corporation, Oregon Homeownership Stabilization Initiative, Reporting, Quarterly Performance Reports Q1 2016, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). xl February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 On HHF states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 2016, HHF Oregon was allocated $36.4 million. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 4.51 HHF OREGON PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 3/31/2016 30,000 As of 3/31/2016: Estimate: 15,150 (Peak: 15,280) Homeowner Applications: 28,347 Homeowners Assisted: 11,785 Homeowner Admission Rate: 42% 25,000 20,000 15,000 10,000 5,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 Q4 2011 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 2012 Q2 2013 Q3 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Q1 2016 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 3/31/2016; Oregon Affordable Housing Assistance Corporation, Quarterly Performance Reports Q2 2011 - Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. 211 212 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.52 HHF OREGON ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 MORTGAGE PAYMENT ASSISTANCE PROGRAM (UNEMPLOYMENT)–SEPTEMBER 2010 30,000 24,000 LOAN PRESERVATION ASSISTANCE PROGRAM (PAST-DUE PAYMENT)–SEPTEMBER 2010 As of 3/31/2016: 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 3/31/2016: 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 Homeowner Applications 600 2012 2013 2014 2015 2016 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 3/31/2016: Estimate: 200 (Peak: 330) Homeowner Applications: 823 Program Participation: 207 Homeowner Admission Rate: 25% 300 250 200 150 400 100 200 50 0 As of 3/31/2016: Estimate: 50 (Peak: 50) Homeowner Applications: 289 Program Participation: 73 Homeowner Admission Rate: 25% 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 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 Homeowner Applications 2,000 1,500 2013 2014 2015 2016 Program Participation TRANSITION ASSISTANCE PROGRAM (TRANSITION)– SEPTEMBER 2010 3,000 As of 3/31/2016: Estimate: 0 (Peak: 2,600) Homeowner Applications: 0 Program Participation: 0 Homeowner Admission Rate: 0% 2,500 2012 Homeowner Applications LOAN MODIFICATION ASSISTANCE PROGRAM (MODIFICATION)–SEPTEMBER 2010 3,000 2011 State Estimated Program Participation Program Participation 2,000 1,500 Program Ended June 2013 1,000 500 As of 3/31/2016: Estimate: 0 (Peak: 2,515) Homeowner Applications: 0 Program Participation: 0 Homeowner Admission Rate: 0% 2,500 Program Ended December 2011 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 Q1 2010 2011 2012 2013 State Estimated Program Participation Homeowner Applications 2014 2015 Program Participation 2016 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 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 3/31/2016; Oregon Affordable Housing Assistance Corporation, Quarterly Performance Reports Q2 2011 - Q1 2016, no date. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Rhode Island’s HHF Program FIGURE 4.53 As of March 31, 2016, Treasury obligated $89,032,390 in HHF funds to Rhode Island, however, on April 20, 2016, Treasury increased that amount by $26,942,913, bringing Rhode Island’s total allocation to $115,975,303.199,xli 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 March 31, 2016. As of that date, HHF Rhode Island had helped 3,075 individual homeowners. This is 64% of homeowners who applied. HHF Rhode Island has denied 29% (1,425) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 7% (333) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF Rhode Island faced wait times ranging from 118 to 223 days, depending on the program. For those homeowners receiving assistance, most received it through Rhode Island’s past due payment and unemployment programs.200 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.201 As of March 31, 2016, the state’s HFA had drawn down $79.4 million, 68% of its $116 million HHF funds.202 As of March 31, 2016, the most recent data available, HHF Rhode Island had spent $64.7 million (56% of its obligated funds) to help homeowners.203 The remaining $8.7 million (8%) was spent on administrative expenses, and $7.2 million (6%) was held as cash-on-hand.204 Figures 4.54 and 4.55 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 March 31, 2016. RI HHF EXPENDITURES, BY PROGRAM CATEGORY xli On February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 2016, HHF Rhode Island was allocated $9.7 million. PROGRAM THROUGH MARCH 31, 2016 20.4% 0.5% 18.3% 60.7% Modification ($13,209,644) Transition ($340,227) Past-Due Payment ($11,867,564) Unemployment ($39,283,612) Homebuyer Assistance ($0) Source: Rhode Island Housing and Mortgage Finance Corporation, Hardest Hit Fund – Rhode Island, About HHFRI, Reports, Quarterly Performance Report Q1 2016, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). 213 214 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.54 HHF RHODE ISLAND PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 3/31/2016 15,000 As of 3/31/2016: 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 Q4 2011 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 2012 Q2 2013 Q3 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 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 3/31/2016; Rhode Island Housing and Mortgage Finance Corporation, Quarterly Performance Reports Q4 2010 – Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. Q1 2016 215 QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 4.55 HHF RHODE ISLAND ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 LOAN MODIFICATION ASSISTANCE PROGRAM (MODIFICATION)–SEPTEMBER 2010 3,500 TEMPORARY AND IMMEDIATE HOMEOWNER ASSISTANCE (PAST-DUE PAYMENT)– SEPTEMBER 2010 3,000 As of 3/31/2016: 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 3/31/2016: 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 Homeowner Applications 2013 2014 2015 2016 Program Participation MORTGAGE PAYMENT ASSISTANCE – UNEMPLOYMENT (UNEMPLOYMENT)– SEPTEMBER 2010 As of 3/31/2016: As of 3/31/2016: Estimate: 70 (Peak: 875) Homeowner Applications: 117 Program Participation: 65 Homeowner Admission Rate: 56% 750 2012 Homeowner Applications MOVING FORWARD ASSISTANCE (TRANSITION)– SEPTEMBER 2010 1,000 2011 State Estimated Program Participation Program Participation 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 Homeowner Applications 25 2013 2014 2015 2016 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 3/31/2016: Estimate: 32 (Peak: 100) Homeowner Applications: 42 Program Participation: 28 Homeowner Admission Rate: 67% 100 75 50 As of 3/31/2016: Estimate: 135 (Peak: 135) Homebuyer Applications: 46 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 Q1 2010 2011 2012 2013 State Estimated Program Participation Homeowner Applications 2014 2015 Program Participation 2016 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 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 3/31/2016; Rhode Island Housing and Mortgage Finance Corporation, Quarterly Performance Reports Q4 2010 - Q1 2016, no date. 216 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.56 South Carolina’s HHF Programs SC HHF EXPENDITURES, BY PROGRAM CATEGORY As of March 31, 2016, Treasury obligated $317,461,821 in HHF funds to South Carolina.205,xlii 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 March 31, 2016. As of that date, HHF South Carolina had helped 10,732 individual homeowners. This is 43% of homeowners who applied. HHF South Carolina has denied 35% (8,681) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 20% (5,102) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF South Carolina faced wait times ranging from 139 to 294 days, depending on the program. For those homeowners receiving assistance, most received it through South Carolina’s past due payment and unemployment programs.206 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 181 participants as of March 31, 2016. In addition to decreasing the number of homeowners it estimated helping, HHF South Carolina has shifted $35 million (11%) 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 166-167 of this Quarterly Report. As of March 31, 2016, the state’s HFA had drawn down $212.5 million (67%) of its HHF funds, and had spent $167.6 million (53% of its obligated funds) to help homeowners. As of March 31, 2016, HHF South Carolina had spent $461,345 to demolish 26 properties.207 The remaining $30.9 million (10%) was spent on administrative expenses, and $15.3 million (5%) was held as cash-on-hand.208 Figures 4.57 and 4.58 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 March 31, 2016. PROGRAM THROUGH MARCH 31, 2016 0.3% 48.4% 47.5% 0.9% 2.9% Past-Due Payment ($81,326,995) Modification ($4,919,351) Transition ($1,490,504) Unemployment ($79,892,623) Blight Elimination ($461,345) Source: SC Housing Corp., SC HELP, Reports, Quarterly Performance Reports Q1 2016, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). xlii February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF On states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 2016, HHF South Carolina was allocated $22 million. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 FIGURE 4.57 HHF SOUTH CAROLINA PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 3/31/2016 35,000 As of 3/31/2016: Estimate: 18,350 (Peak: 34,100) Homeowner Applications: 25,149 Homeowners Assisted: 10,732 Homeowner Admission Rate: 43% 30,000 25,000 20,000 15,000 10,000 5,000 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 Q4 2011 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 2012 Q2 2013 Q3 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 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 3/31/2016; SC Housing Corp., Quarterly Performance Reports Q1 2011 - Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. Q1 2016 217 218 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.58 HHF SOUTH CAROLINA ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 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 3/31/2016: Estimate: 6,000 (Peak: 14,000) Homeowner Applications: 18,117 Program Participation: 5,956 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 2,000 6,000 4,000 3,000 2015 2016 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 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 2016 2010 2011 2012 2013 State Estimated Program Participation Program Participation Homeowner Applications 2014 2015 2016 Program Participation Homeowner Applications SECOND MORTGAGE ASSISTANCE PROGRAM (SECOND-LIEN REDUCTION)–SEPTEMBER 2010 NEIGHBORHOOD INITIATIVE PROGRAM (BLIGHT)– JULY 2014 3,000 1500 750 2014 Program Participation As of 3/31/2016: Estimate: 300 (Peak: 6,000) Homeowner Applications: 355 Program Participation: 299 Homeowner Admission Rate: 84% 5,000 1,000 1000 2013 PROPERTY DISPOSITION ASSISTANCE PROGRAM (TRANSITION)–SEPTEMBER 2010 As of 3/31/2016: Estimate: 550 (Peak: 3,500) Homeowner Applications: 194 Program Participation: 181 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 1250 As of 3/31/2016: Estimate: 11,500 (Peak: 11,500) Homeowner Applications: 21,533 Program Participation: 10,191 Homeowner Admission Rate: 47% 20,000 2,500 As of 3/31/2016: Blighted homes proposed to be demolished: 1,300 Actual blighted homes demolished: 26 2,000 Program Ended August 2011 1,500 500 1,000 250 As of 3/31/2016: 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 2010 2011 2012 2013 State Estimated Program Participation Program Participation 2014 2015 2016 Program Participation Homeowner Applications Homeowner Applications HAMP ASSISTANCE PROGRAM (MODIFICATION)– SEPTEMBER 2010 6,000 5,000 4,000 3,000 As of 3/31/2016: 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 Q1 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 3/31/2016; SC Housing Corp., Quarterly Performance Reports Q1 2011 – Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Tennessee’s HHF Program FIGURE 4.59 As of March 31, 2016, Treasury obligated $269,260,804 in HHF funds to Tennessee, however, on April 20, 2016, Treasury increased that amount by $32,794,226, bringing Tennessee’s total allocation to $302,055,030.209,xliii 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 March 31, 2016. As of that date, HHF Tennessee had helped 7,355 individual homeowners. This is 79% of homeowners who applied. HHF Tennessee has denied 14% (1,300) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 7% (697) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Some homeowners may not be able to withstand delays. Homeowners receiving HHF assistance from HHF Tennessee faced wait times averaging 121 days. For those homeowners receiving assistance, most received it through Tennessee’s unemployment program.210 According to Treasury, as of September 30, 2014, HHF Tennessee stopped accepting new applications from struggling homeowners, except under select programs.211 In addition to decreasing the number of homeowners it estimated helping, HHF Tennessee shifted $10 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 169 of this Quarterly Report. As of March 31, 2016, the state’s HFA had drawn down $198.3 million (66%) of its HHF funds and spent $174.3 million (58%) to help homeowners.212 The remaining $19.3 million (6%) was spent on administrative expenses, and $6.4 million (2%) was held as cash-on-hand.213 Figures 4.60 and 4.61 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 March 31, 2016. TN HHF EXPENDITURES, BY PROGRAM CATEGORY xliii On February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 2016, HHF Tennessee was allocated $51.9 million. PROGRAM THROUGH MARCH 31, 2016 100% Unemployment ($174,275,732) Blight Elimination ($0) Source: Tennessee Housing Development Agency, Keep My Tennessee Home, Reports, Quarterly Performance Report Q1 2016, no date (may differ from cash disbursements reported on the state’s Quarterly Financial Report). 219 220 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.60 HHF TENNESSEE PROGRAM PERFORMANCE, ALL HHF PROGRAMS, AS OF 3/31/2016 15,000 12,000 9,000 As of 3/31/2016: 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 Q1 2012 State Estimated Program Participation Q2 Q3 Q4 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 2015 Q1 2016 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 3/31/2016; Tennessee Housing Development Agency, Quarterly Performance Reports Q1 2011 - Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. FIGURE 4.61 HHF TENNESSEE ACTUAL VS. ESTIMATED PROGRAM PERFORMANCE, BY PROGRAM, AS OF 3/31/2016 HARDEST HIT FUND PROGRAM (UNEMPLOYMENT)– SEPTMEBER 2010 HHF BLIGHT ELIMINATION PROGRAM (BLIGHT)– SEPTEMBER 2015 As of 3/31/2016: Estimate: 7,355 (Peak: 13,500) Homeowner Applications: 9,352 Program Participation: 7,355 Homeowner Admission Rate: 79% 20,000 15,000 500 400 300 10,000 As of 3/31/2016: 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 Q1 2010 2011 2012 2013 State Estimated Program Participation Homeowner Applications 2014 2015 Program Participation 2016 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 2010 2011 2012 2013 State Estimated Program Participation 2014 2015 2016 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 3/31/2016; Tennessee Housing Development Agency, Quarterly Performance Reports Q1 2011 - Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Washington, DC’s HHF Program As of March 31, 2016, Treasury obligated $25,621,800, in HHF funds to Washington, DC, however, on April 20, 2016, Treasury increased that amount by $3,123,331 bringing its total allocation to $28,745,131.214,xliv 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 March 31, 2016. As of that date, HHF DC had helped 707 individual homeowners.215 This is 81% of homeowners who applied. HHF Washington, DC. has denied 15% (133) of applying homeowners for any HHF assistance, and did not provide HHF assistance to an additional 3% (27) of homeowners because their application was withdrawn by either the state HFA or the homeowner. One reason why a homeowner may withdraw their application is because of lengthy wait times to receive an answer on their application. Homeowners receiving HHF assistance from DC faced wait times averaging 145 days. For those homeowners receiving assistance, most received it through Washington, DC’s unemployment program. According to Treasury, HHF DC had previously stopped accepting new homeowner applications after November 22, 2013, but, as of June 30, 2016, was again accepting applications for select programs.216 As of March 31, 2016, HHF DC had drawn down $18.2 million (63%) of its HHF funds and spent $13.8 million (48% of its obligated funds) to help individual homeowners.217 The remaining $3.5 million (12%) was spent on administrative expenses and $1.7 million (6%) was held as cash-on-hand.218 Figure 4.62 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 March 31, 2016. xliv On February 19, 2016, Treasury announced $2 billion in TARP funding would be transferred to HHF and distributed to 18 of 19 HHF states. As part of the first phase distiributing $1 billion dollars to the 18 HHF states, on February 19, 2016, HHF DC was allocated $4.9 million. 221 222 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.62 HHF WASHINGTON, DC PROGRAM PERFORMANCE, AS OF 3/31/2016 1,500 As of 3/31/2016: Estimate: 1,300 (Peak: 1,300) Homeowner Applications: 872 Homeowners Assisted: 707 Homeowner Admission Rate: 81% 1,200 900 600 300 0 Q1 Q2 Q3 Q4 Q1 2010 Q2 Q3 Q4 2011 State Estimated Program Participation Q1 Q2 Q3 Q4 Q1 2012 Q2 2013 Q3 Q4 Q1 Q2 2014 Q3 Q4 Q1 Q2 Q3 Q4 2015 Q1 2016 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 3/31/2016; District of Columbia’s Housing Finance Agency, Quarterly Performance Reports Q1 2011 - Q1 2016, no date; Treasury, HFA Aggregate Reports Q3 2012 – Q1 2016, no date. SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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.219 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 June 30, 2016, 23 institutions remained in CPP, 13 with outstanding principal investments; in 10 of them, Treasury holds only warrants to purchase stock. See Table 4.19 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 $224.1 million in CPP investments outstanding.220 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 June 30, 2016, 10 of the 13 banks with remaining principal investments had missed at least six dividends and interest payments, totaling $34.3 million, but Treasury has not exercised its right to appoint directors to their boards.221 223 224 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.19 REMAINING CPP BANKS, AS OF 6/30/2016 (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 Midwest 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 — 8,018,963 Village Bank and Trust Financial Corp. 14,738,000 — 31,189 2,026,475 Tidelands Bancshares, Inc. 14,448,000 14,448,000 571,821 5,454,120 ✓ Southeast One United Bank 12,063,000 12,063,000 — 5,458,508 ✓ Mid-Atlantic/Northeast Cecil Bancorp, Inc. 11,560,000 11,560,000 261,538 4,797,400 ✓ Mid-Atlantic/Northeast Broadway Financial Corporation 9,000,000 15,000,000 — — ✓ West Harbor Bankshares Corporation 6,800,000 6,800,000 — 2,516,000 ✓ Mid-Atlantic/Northeast Pacific International Bancorp/BBCN Bancorp, Inc. 6,500,000 — 19,276 — Citizens Commerce Bancshares, Inc. 6,300,000 6,300,000 — 2,884,613 ✓ Midwest Pinnacle Bank Holding Company, Inc. 4,389,000 4,389,000 267,455 1,786,080 ✓ Southeast Allied First Bancorp, Inc. 3,652,000 3,652,000 — 1,287,510 ✓ Midwest AB&T Financial Corporation 3,500,000 — 80,153 481,250 Southeast Treaty Oak Bancorp, Inc. 3,268,000 — 3,098,341 133,553 Southwest/South Central Institution Observer Status Region Southeast ✓ Southeast Southwest Mid-Atlantic/Northeast West Continued on next page SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 REMAINING CPP BANKS, AS OF 6/30/2016 (PRINCIPAL OR WARRANTS) (CONTINUED) Original Investment Outstanding Investment Warrants Remaining Missed Dividend Grand Mountain Bancshares, Inc. $3,076,000 $3,076,000 — $1,382,420 St. Johns Bancshares, Inc. 3,000,000 3,000,000 — — Midwest Saigon National Bank 1,549,000 1,549,000 — 763,353 West $1,988,160,000 $224,103,504 $9,780,000 $57,101,320 Institution Total Notes: Numbers may not total due to rounding. 10 remaining banks with remaining warrants. ✓ Treasury has assigned an observer to the Board of Directors. Sources: Treasury, Transactions Report, 7/5/2016; Treasury, Dividends and Interest Report, 7/11/2016. Observer Status ✓ Region Mountain West 225 226 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM FIGURE 4.63 STATUS OF CPP RECIPIENTS, AS OF 6/30/2016 3% 24% 37% 1% 5% 6% 4% 19% 2% Fully Repaid Principal (262) Remaining Principal Investment in CPP (13) Refinanced into SBLF (137) Refinanced into CDCI (28) Sold for less than par (41) 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, 7/8/2016. For a complete list of CPP recipients and institutions making dividend or interest payments, see Appendix C: “Transaction Detail.” As of June 30, 2016, Treasury has recovered $197.4 billion of the CPP principal.222 However, only 262 banks, or 37%, fully repaid CPP principal.223 Four CPP banks merged with other CPP banks; Treasury sold its investments in 41 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.224 Figure 4.63 shows the status of the 707 CPP recipients as of June 30, 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.225 As of June 30, 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.226 For a complete list of CPP share repurchases, see Appendix C: “Transaction Detail.” Dividends and Interest As of June 30, 2016, Treasury had received $12.1 billion in dividends on its CPP investments.227 However, as of that date, missed dividend and interest payments by 165 institutions, including banks that missed payments that are no longer in TARP, totaled approximately $517.8 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.228 Twelve banks have rejected Treasury’s requests to send an observer to the institutions’ board meetings.229 The banks had initial CPP investments of as much as $27 million, have missed as many as 30 quarterly dividend payments to Treasury, and have been overdue in dividend payments by as much as $4.1 million.230 Six of these banks have since been sold at a loss to Treasury at auction.231 Appendix E of this Quarterly Report, which is available on SIGTARP’s website, lists the banks that rejected Treasury observers. Appendix E of this Quarterly Report, which is available on SIGTARP’s website, lists CPP recipients that had unpaid dividend (or interest) payments as of June 30, 2016. CPP Recipients: Bankrupt or with Failed Subsidiary Banks As of June 30, 2016, 32 CPP participants had gone bankrupt or had a subsidiary bank fail, as indicated in Table 4.20.232 Treasury anticipates a total loss on its TARP investment in these institutions. SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 TABLE 4.20 CPP RECIPIENTS: BANKRUPT OR WITH FAILED SUBSIDIARY BANKS, AS OF 6/30/2016 Company Initial Invested Amount Investment Date Status ($ 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 227 228 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM CPP RECIPIENTS: BANKRUPT OR WITH FAILED SUBSIDIARY BANKS, AS OF 6/30/2016 ($ 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, 7/5/2016. SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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 June 30, 2016, see Appendix E of this Quarterly Report, which is available on SIGTARP’s website. CPP Preferred Stock Auctions Treasury auctioned its TARP investments in 190 CPP banks at a total loss of $1.1 billion ($809.7 million in principal and $258.6 million in missed dividends and interest).233 Treasury auctioned its TARP investment in 167 banks at a loss (in some, at a discount of up to 90%).234 Treasury forfeited the right to collect missed dividends and interest payments from 68 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 June 30, 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 4.64 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. 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. FIGURE 4.64 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, 7/8/2016. 229 230 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 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. 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.” 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.235 As of June 30, 2016, Treasury received $3.9 billion for warrants sold back to 174 CPP public institutions, $8.1 billion from the sale of CPP warrants. As of that same date, 409 privately held institutions, and the warrants of which had been immediately exercised, bought back the resulting additional preferred shares for a total of $192.3 million.236 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 June 30, 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. SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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.237 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.238 CDCI was open to certified, qualifying CDFIs or financial institutions that applied for CDFI status by April 30, 2010.239 According to Treasury, CPP-participating CDFIs that were in good standing could exchange their CPP investments for CDCI investments.240 CDCI closed to new investments on September 30, 2010.241 Treasury invested $570.1 million in 84 institutions under the program — 36 banks or bank holding companies and 48 credit unions.242 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 June 30, 2016, 55 institutions remained in CDCI. Twenty-seven 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.243 As of June 30, 2016, taxpayers were still owed $426.6 million related to CDCI.244 According to Treasury, it had realized losses of $6.7 million in the program that will never be recovered, leaving $419.9 million outstanding.245 According to Treasury, $143.5 million of the CDCI principal (or 25.2%) had been repaid as of June 30, 2016.246 As of June 30, 2016, Treasury had received approximately $58.9 million in dividends and interest from CDCI recipients.247 Tables 4.22 through 4.27 show banks and credit unions remaining in CDCI by region and state as of June 30, 2016. Table 4.21 lists the current status of all CDCI investments as of June 30, 2016. 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. 231 232 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.21 BANKS AND CREDIT UNIONS WITH CDCI PRINCIPAL REMAINING, BY REGION, AS OF 6/30/2016 Original Number of Participants Remaining Number of Participants Remaining Investment Remaining Number of Banks Remaining Number of Credit Unions Mid-Atlantic/Northeast 24 17 $64,720,000 4 13 Southeast 22 15 259,352,000 13 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 55 $419,867,600 24 31 Source: Treasury, Transactions Report, 7/5/2016. FIGURE 4.65 AMOUNT OF CDCI PRINCIPAL INVESTMENT REMAINING, BY REGION, AS OF 6/30/2016 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 $65 MILLION NH MA CT RI NJ DE MD NC TN MS AL TX VT MI IA NE UT MIDWEST $18 MILLION SC GA SOUTHEAST $259 MILLION LA FL SOUTHWEST/ SOUTH CENTRAL $53 MILLION WEST MOUNTAIN WEST/PLAINS MIDWEST MID-ATLANTIC/NORTHEAST SOUTHWEST/SOUTH CENTRAL SOUTHEAST PR 233 SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Mid-Atlantic/Northeast TABLE 4.22 BANKS AND CREDIT UNIONS WITH CDCI PRINCIPAL REMAINING, BY STATE, AS OF 6/30/2016 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 8,044,000 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 17 $64,720,000 4 13 Source: Treasury, Transactions Report, 7/5/2016. Southeast TABLE 4.23 BANKS AND CREDIT UNIONS WITH CDCI PRINCIPAL REMAINING, BY STATE, AS OF 6/30/2016 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 8 194,283,000 7 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 15 $259,352,000 13 2 Total Source: Treasury, Transactions Report, 7/5/2016. 234 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM West TABLE 4.24 BANKS AND CREDIT UNIONS WITH CDCI PRINCIPAL REMAINING, BY STATE, AS OF 6/30/2016 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, 7/5/2016. HI WEST Principal investment remaining in CDCI banks >$10 million $1 million-$10 million $1-$1 million $0 Southwest/South Central TABLE 4.25 BANKS AND CREDIT UNIONS WITH CDCI PRINCIPAL REMAINING, BY STATE, AS OF 6/30/2016 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, 7/5/2016. 235 SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Midwest TABLE 4.26 BANKS AND CREDIT UNIONS WITH CDCI PRINCIPAL REMAINING, BY STATE, AS OF 6/30/2016 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, 7/5/2016. >$10 million $1 million -$10 million $1-$1 million $0 Principal investment remaining in CDCI banks Mountain West/Plains TABLE 4.27 BANKS AND CREDIT UNIONS WITH CDCI PRINCIPAL REMAINING, BY STATE, AS OF 6/30/2016 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, 7/5/2016. KS >$10 million $1 million-$10 million $1-$1 million $0 236 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM TABLE 4.28 CDCI INVESTMENT SUMMARY, AS OF 6/30/2016 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 The First Bancshares, Inc. 5,000,000 54,600,000 18,980,000 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 Citizens Bancshares Corporation M&F Bancorp, Inc. Liberty Financial Services, Inc. Mission Valley Bancorp United Bancorporation of Alabama, Inc. IBC Bancorp, Inc. 7,462,000 14,000,000 4,379,000 11,735,000 11,841,000 11,735,000 5,645,000 5,689,000 11,334,000 5,500,000 4,836,000 10,336,000 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 4,520,000 Community Bank of the Bay 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 Tri-State Bank of Memphis Community First Guam Federal Credit Union $2,795,000 $2,795,000 2,650,000 Continued on next page SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 CDCI INVESTMENT SUMMARY, AS OF 6/30/2016 Amount from CPP Institution (CONTINUED) Additional Investment Total CDCI Investment Institutions Remaining in CDCI Shreveport Federal Credit Union $2,646,000 Pyramid Federal Credit Union 2,500,000 Alternatives Federal Credit Union 2,234,000 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 $269,364,000 $90,535,000 $428,566,000 Continued on next page 237 238 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM CDCI INVESTMENT SUMMARY, AS OF 6/30/2016 (CONTINUED) Amount from CPP Additional Investment Institution Institutions Fully Repaid First M&F Corporation $30,000,000 Total CDCI Investment $30,000,000 University Financial Corp, Inc. 11,926,000 Security Capital Corporation 17,910,000 17,910,000 9,734,000 9,734,000 PSB Financial Corporation $10,189,000 Freedom First Federal Credit Union 22,115,000 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 Virginia Community Capital, Inc. 1,915,000 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 14,000 Total $87,142,000 $10,189,000 $134,723,000 Bankrupt or with Failed Subsidiary Banks Premier Bancorp, Inc. Total Overall Total $6,784,000 $6,784,000 $363,290,000 $100,724,000 $6,784,000 $6,784,000 $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, 7/5/2016. SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 Missed Dividends As of June 30, 2016, three institutions still in CDCI had unpaid dividend or interest payments to Treasury totaling $288,225.248 As a result of a bankrupt institution that exited CDCI without remitting its interest payments, the total value of all missed payments equals $604,849. 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.249 As of June 30, 2016, Treasury had not appointed directors to the board of any CDCI institution.250 Treasury has sent observers to the board meetings of one institution, First Vernon Bancshares, Inc., Vernon, Alabama, however no observer is currently attending board meetings of this institution.251 Treasury has sent observers to the board meetings of three institutions Carver Bancorp, Inc., New York, NY; Tri-State Bank of Memphis, Memphis, TN; and First Vernon Bancshares, Inc., Vernon, Alabama. Observers are actively attending the board meetings of Carver Bancorp, Inc. and Tri-State Bank of Memphis, but not First Vernon Bancshares, Inc.252 Table 4.29 lists CDCI institutions that are not current on dividend or interest payments. TABLE 4.29 CDCI-RELATED MISSED DIVIDEND AND INTEREST PAYMENTS, AS OF 6/30/2016 Institution Dividend or Payment Type Number of Missed Payments Value of Missed Payments Tri-State Bank of Memphis Non-Cumulative 8 $111,800 Premier Bancorp, Inc.* Interest 6 316,624 First Vernon Bancshares, Inc. Cumulative 5 156,125 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, 7/11/2016. 20,300 $604,849 239 240 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 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.253 On January 29, 2015, the Federal Deposit Insurance Corporation (“FDIC”) issued a consent order to TriState Bank of Memphis, Memphis, Tennessee.254 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. 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.255 Participating credit unions and S corporations issued subordinated debt to Treasury in lieu of the preferred stock issued by other CDFI participants.256 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.257 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%.258 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.259 SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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.”260 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.261 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.262 AIG has repaid the amounts owed to both Treasury and FRBNY. Treasury’s investment in AIG ended on March 1, 2013.263 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.264 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.265 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.266 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. 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. 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. 241 242 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 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.”267 Both banks repaid TIP in December 2009.268 On March 3, 2010, Treasury auctioned the Bank of America warrants it received under TIP for $1.24 billion.269 On January 25, 2011, Treasury auctioned the Citigroup warrants it had received under TIP for $190.4 million.270 Asset Guarantee Program 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. 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.271 On December 23, 2009, Citigroup and Treasury terminated the AGP agreement. The Government suffered no loss.272 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.273 Treasury exchanged those transferred securities into Citigroup subordinated notes, which it then sold for $894 million.274 Treasury received an additional $12 million in proceeds from the $2.2 billion sale of the remaining Citigroup TRUPS.275 Treasury auctioned the Citigroup warrants for $67.2 million.276 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).277 SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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.”278 Treasury spent $79.7 billion in TARP funds on the auto bailout, which resulted in a $16.6 billion loss to taxpayers.279 TABLE 4.30 TARP AUTOMOTIVE PROGRAM INVESTMENTS AND PRINCIPAL REPAYMENTS AND RECOVERIES, AS OF 6/30/2016 ($ 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, 7/5/2016; Treasury, response to SIGTARP data call, 7/5/2016; Treasury, Monthly TARP Update, 7/1/2016. 243 244 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM For more information on Auto Industry Support Programs, see SIGTARP’s July 29, 2015 Quarterly Report, pages 330-336. 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 June 30, 2016.280 GM Taxpayers lost $11.2 billion on the $49.5 billion TARP AIFP investment in GM.281 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. Ally Financial, formerly known as GMAC Of the $17.2 billion TARP investment in Ally Financial, taxpayers lost $2.5 billion.282 Chrysler Of the $12 billion TARP AIFP investment in Chrysler (including Chrysler Financial), taxpayers suffered a $2.9 billion loss.283 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 2010.284 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.285 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. SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 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”).286 As of February 6, 2013, all TARP funding for TALF was either deobligated or recovered.287 Of the $71.1 billion in TALF loans, none defaulted and no loans remained outstanding as of June 30, 2016.288 Additionally, Treasury has received $671.1 million in income on the asset disposition facility it set up with the program through June 30, 2016.289 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.290 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.291 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.292 As of June 30, 2016, the entire PPIP portfolio had been liquidated, and all PPIP funds had been legally dissolved.293 All $18.6 billion in TARP funding that was drawn down was fully repaid by PPIP fund managers.294 Treasury also received approximately $3.5 billion in gross income payments and capital gains and warrants that it sold for $87 million.295 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. Equity: Investment that represents an ownership interest in a business. 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. Debt: Investment in a business that is required to be paid back to the investor, usually with interest. 245 246 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM SECT ION 5 TARP OPERATIONS AND ADMINISTRATION 248 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 TARP ADMINISTRATIVE AND PROGRAM OPERATING EXPENDITURES According to Treasury, as of June 30, 2016, it had spent $439.7 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.296 Much of the work on TARP is performed by private vendors rather than Government employees. Treasury reported that as of June 30, 2016, it employs 23 career civil servants, 45 term appointees, and 19 reimbursable detailees, for a total of 87 full-time employees.297 Between TARP’s inception in 2008 and June 30, 2016, Treasury had retained 102 private vendors — 21 financial agents and 81 contractors — to help administer TARP.298 According to Treasury, as of June 30, 2016, 25 private vendors were active — 4 financial agents and 21 contractors, some with multiple contracts.299 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 June 30, 2016, together they had about 417 people dedicated to working on their TARP contracts.300 According to Treasury, as of June 30, 2016 — the latest numbers available vary due to reporting cycles — at least another 81 people were working on other active OFS contracts, including financial agent and legal services contracts, for a total of approximately 498 private-sector employees working on TARP.301 Table 5.1 provides a summary of the expenditures and obligations for TARP administrative and programmatic operating costs through June 30, 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 June 30, 2016, excluding costs and obligations related to personnel services, travel, and transportation. 249 250 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 6/30/2016 Ending 6/30/2016 $154,505,319 $154,505,319 $154,505,319 $154,505,319 $2,799,357 $2,787,487 11,960 11,960 732,415 732,415 1,403 1,403 321,843,498 278,950,197 2,398,278 2,397,918 320,983 320,983 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 $328,108,605 $285,203,073 $482,613,925 $439,708,393 Programmatic $1,326,965,222 $1,279,863,043 Total Administrative and Programmatic $1,809,579,147 $1,719,571,436 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, 7/9/2016. FINANCIAL AGENTS EESA requires SIGTARP to provide biographical information for each person or entity hired to manage assets acquired through TARP.302 Treasury hired no new financial agents in the quarter ended June 30, 2016.303 ENDNOTES SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 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. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. Emergency Economic Stabilization Act of 2008, P.L. 110-343, 10/3/2008; Amendment text: S.Amdt.5687 – 110th Congress; www.congress.gov/ amendment/110th-congress/senate-amendment/5687/text, accessed 7/7/2016. Treasury, Hardest Hit Fund - Program Purpose and Overview website, no date, www.treasury.gov/initiatives/financial-stability/TARP-Programs/ housing/hhf/Pages/Program-Purpose-and-Overview.aspx, accessed 7/7/2016. SIGTARP, Quarterly Report to Congress, October 28, 2015, www.sigtarp.gov/Quarterly%20Reports/October_28_2015_Report_to_Congress.pdf, accessed 7/7/2016. 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Treasury, response to SIGTARP data call, 7/5/2016. Treasury, “Hardest Hit Fund, Archived Program Information, Participation Agreements and Initial Program Guidelines,” no date, www.treasury. gov/initiatives/financial-stability/TARP-Programs/housing/hhf/Pages/Archival-information.aspx, accessed 7/5/2016; SIGTARP analysis of HFA participation agreements and amendments. This estimate does not include homebuyers participating in the DPA program; SIGTARP analysis of HFA participation agreements and amendments. Treasury, responses to SIGTARP data calls, 7/5/2013, 10/3/2013, 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, 4/4/2016, and 7/5/2016; Treasury, “HFA Aggregate Quarterly Report Q1 2016,” no date, www.treasury.gov/ initiatives/financial-stability/reports/Documents/HFA%20Aggregate%20Q12016%20Report.pdf, accessed 7/5/2016; Spending 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. Treasury’s Q1 2016 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 7/5/2016. Treasury’s Q1 2016 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 7/5/2016. Treasury’s Q1 2016 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 7/5/2016. Treasury’s Q1 2016 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 7/5/2016. Treasury’s Q1 2016 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 7/5/2016. Treasury, Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 10/3/2013, 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, 4/4/2016, and 7/5/2016. Treasury, responses to SIGTARP data calls, 7/5/2013, 10/3/2013, 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, 4/4/2016, and 7/5/2016; Treasury, “HFA Aggregate Quarterly Report Q1 2016,” no date, www.treasury.gov/ initiatives/financial-stability/reports/Documents/HFA%20Aggregate%20Q12016%20Report.pdf, accessed 7/5/2016; Treasury, Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20Transactions%20 Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Spending 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. Florida Housing Finance Corporation, Eleventh and Thirteenth Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement, 4/21/2015 and 5/3/2016; Treasury, response to SIGTARP data call, 7/5/2016. Treasury’s Q1 2016 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 7/5/2016. Treasury, Action Memorandum for Deputy Assistant Secretary McArdle, 6/1/2016. See, e.g., Florida Housing Finance Corporation, Eleventh Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement, 4/21/2015. Trulia, Median Value of Owner-Occupied Housing Units, www.trulia.com/city/KY/, accessed 7/5/2016. Trulia, Median Value of Owner-Occupied Housing Units, www.trulia.com/city/RI/ & www.trulia.com/city/AZ/, accessed 7/5/2016; Arizona Department of Housing, “Pathway to Purchase Down Payment Assistance,” https://housing.az.gov/pathway-to-purchase, accessed 7/13/2016, Rhode Island Housing, “FirstHomes”, http://loans.rhodeislandhousing.org/FirstHomes/, accessed 7/13/2016. Kentucky Eighth Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement; Rhode Island Tenth Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement; Florida Twelfth Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement. Treasury, Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016. Alabama Housing Finance Authority, “Hardest Hit Alabama, Treasury Reports, 2016, 1st Quarter,” no date, www.hardesthitalabama.com/ resources/treasury_reporting.aspx, accessed 7/5/2016. Treasury, response to SIGTARP data call, 7/5/2016; Treasury, Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/ financial-stability/reports/Documents/Housing%20Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016. SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 122. 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, 4/4/2016, and 7/5/2016; Treasury, Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/ financial-stability/reports/Documents/Housing%20Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016. 123. Treasury, Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 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. 124. Treasury, Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 7/5/2016. 125. Arizona (Home) Foreclosure Prevention Funding Corporation, “Hardest Hit Fund Reporting, Hardest Hit Fund-1st Quarter 2016,” no date, www.azhousing.gov/ShowPage.aspx?ID=405&CID=11, accessed 7/5/2016; Treasury, response to SIGTARP data call, 7/5/2016. 126. Treasury, Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 127. 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, 4/4/2016, and 7/5/2016; Treasury, Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/ financial-stability/reports/Documents/Housing%20Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016. 128. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016 and 7/5/2016. 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. 129. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 7/5/2016. 130. CaHFA Mortgage Assistance Corporation, “Keep Your Home California, Reports & Statistics, Quarterly Reports, 2016, First Quarter (Period ending 3/31/16),” no date, keepyourhomecalifornia.org/quarterly-reports/, accessed 7/5/2016. 131. CA HFA Mortgage Assistance Corporation, Fifteenth Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement, 11/13/2014, www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/Documents/Redacted%20-%20CA%20-%20 15th%20Amendment%20to%20HPA.PDF, accessed 7/5/2016. 132. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 133. 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, 4/4/2016, and 7/5/2016; Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/ reports/Documents/Housing%20Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016. 134. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016; 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. 135. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 7/5/2016. 136. Florida Housing Finance Corporation, “Florida Hardest Hit Fund (HHF) Information, Quarterly Reports, HHF QTR Report ending 3/31/2016,” no date, apps.floridahousing.org/StandAlone/FHFC_ECM/ContentPage.aspx?PAGE=0277, accessed 7/5/2016. 137. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 138. 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, 4/4/2016, and 7/5/2016; Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/ reports/Documents/Housing%20Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016. 139. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 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. 140. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 7/5/2016. 141. GHFA Affordable Housing Inc., “HomeSafe Georgia, US Treasury Reports, March 2016 Report,” no date, www.dca.state.ga.us/housing/ homeownership/programs/treasuryReports.asp, accessed 7/5/2016. 142. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 255 256 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 143. 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, 4/4/2016, and 7/5/2016; Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/ reports/Documents/Housing%20Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016. 144. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 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. 145. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 7/5/2016. 146. Illinois Housing Development Authority, “Illinois Hardest Hit Program, Reporting, Illinois HHF First Quarter Performance Report 2016,” no date, www.illinoishardesthit.org/spv-7.aspx, accessed 7/5/2016. 147. 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, 4/4/2016, and 7/5/2016; Illinois Housing Development Authority, “Welcome to the Illinois Hardest Hit Program,” no date, www.illinoishardesthit.org/, accessed 7/5/2016. 148. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 149. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 150. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 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. 151. Illinois Quarterly Performance Report, no date, accessed 7/13/2016; Treasury, response to SIGTARP data call, 7/5/2016. 152. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 7/5/2016. 153. Indiana Housing and Community Development Authority, “Indiana’s Hardest Hit Fund, Quarterly Reports to the U.S. Treasury, Indiana’s Hardest Hit Fund Quarterly Report (Q1) 2016 as submitted to Treasury May 17, 2016,” no date, www.877gethope.org/reports/, accessed 7/5/2016. 154. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 155. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 156. 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, 4/4/2016, and 7/5/2016; Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/ reports/Documents/Housing%20Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016. 157. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 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. 158. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 7/5/2016. 159. Kentucky Housing Corporation, “American Recovery and Reinvestment Act and Troubled Asset Relief Program, Kentucky Unemployment Bridge Program, Unemployment Bridge Program 1st Quarter 2016 Report,” no date, kyhousing.org/Resources/Data-Library/Pages/ARRA-andTARP-Funding.aspx, accessed 7/5/2016; Treasury, response to SIGTARP data call, 7/5/2016; Kentucky Housing Corporation, 10th Amendment, www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/Documents/Redacted%2010th%20Amendment%20to%20HPA%20-%20 Kentucky.pdf, accessed 7/5/2016. 160. Treasury, responses to SIGTARP data calls, 7/5/2013 and 10/17/2013; Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/ initiatives/financial-stability/reports/Documents/Housing%20Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 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, 4/4/2016, and 7/5/2016; Treasury, “HFA Aggregate Quarterly Report Q1 2016,” no date, www.treasury.gov/initiatives/financial-stability/reports/ Documents/HFA%20Aggregate%20Q32015%20Report.pdf, accessed 7/5/2016; Kentucky Housing Corporation, “American Recovery and Reinvestment Act and Troubled Asset Relief Program, Kentucky Unemployment Bridge Program, Unemployment Bridge Program 1st Quarter 2016 Report,” no date, kyhousing.org/Resources/Data-Library/Pages/ARRA-and-TARP-Funding.aspx, accessed 7/5/2016; SIGTARP analysis of Kentucky Housing Corporation quarterly performance report. SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 161. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 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. 162. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 7/5/2016. 163. Michigan Homeowner Assistance Nonprofit Housing Corporation, “Hardest Hit U.S. Treasury Reports, Quarter End 3/31/2016,” no date, www. michigan.gov/mshda/0,4641,7-141-45866_62889_47905-250571--,00.html, accessed 7/5/2016. 164. Michigan Homeowner Assistance Nonprofit Housing Corporation, Eleventh, Twelfth and Thirteenth amendment, 10/29/2015, 4/1/2016 and 6/1/2016, accessed 7/5/2016; Treasury, response to SIGTARP data call, 7/5/2016. 165. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 166. 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, 4/4/2016, and 7/5/2016; Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financialstability/reports/Documents/Housing%20Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Michigan Homeowner Assistance Nonprofit Housing Corporation, “Hardest Hit U.S. Treasury Reports, Quarter End 3/31/2016,” no date, www.michigan.gov/ mshda/0,4641,7-141--250571--,00.html, accessed 7/5/2016. 167. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 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. 168. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 7/5/2016. 169. Mississippi Home Corporation, “Financial Disclosures, Hardest Hit Fund, HFA Performance Data Report, 1st Quarter 2016,” no date, www. mshomecorp.com/home/about-mhc/financial-disclosures/, accessed 7/5/2016. 170. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; 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, 4/4/2016, and 7/5/2016; Treasury, “HFA Aggregate Quarterly Report Q1 2016,” no date, www.treasury.gov/initiatives/financial-stability/reports/Pages/Housing-Finance-Agency-AggregateReport.aspx, accessed 7/5/2016; Mississippi Home Corporation, “Financial Disclosures, Hardest Hit Fund, HFA Performance Data Report, 1st Quarter 2016,” no date, www.mshomecorp.com/home/about-mhc/financial-disclosures/, accessed 7/5/2016; SIGTARP analysis of Mississippi Home Corporation quarterly performance report. 171. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 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. 172. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 7/5/2016. 173. Nevada Affordable Housing Assistance Corporation, “Nevada Hardest Hit Fund, US Treasury Reports,” no date, nevadahardesthitfund.nv.gov/ Resources.html, accessed 7/5/2016. 174. Nevada Affordable Housing Assistance Corporation, “Nevada Hardest Hit Fund, US Treasury Reports,” no date, nevadahardesthitfund.nv.gov/ Resources.html, accessed 7/5/2016; Nevada Affordable Housing Assistance Corporation, Eleventh Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement, www.treasury.gov/initiatives/financial-stability/TARP-Programs/housing/Documents/ Redacted%2011th%20Amendment%20to%20HPA%20-%20Nevada%20(2).pdf, accessed 7/5/2016; Nevada Affordable Housing Assistance 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 7/5/2016; Fourteenth Amendment to Agreement, accessed 7/5/2016. 175. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 176. 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, 4/4/2016, and 7/5/2016; Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/ reports/Documents/Housing%20Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016. 177. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 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. 257 258 SPECIAL INSPECTOR GENERAL I TROUBLED ASSET RELIEF PROGRAM 178. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 7/5/2016. 179. New Jersey Housing and Mortgage Finance Agency, “The New Jersey HomeKeeper Program, About the Program, Performance Reports, New Jersey First Quarter 2016 Performance Report,” no date, www.njhomesaver.com/spv-55.aspx, accessed 7/5/2016. 180. Treasury, responses to SIGTARP data calls, 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, 4/4/2016, and 7/5/2016; New Jersey Housing and Mortgage Finance Agency, “The New Jersey HomeKeeper Program,” no date, www. njhomesaver.com/, accessed 7/5/2016. 181. 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, 4/4/2016, and 7/5/2016; Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/ reports/Documents/Housing%20Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016. 182. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 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. 183. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 7/5/2016. 184. North Carolina Housing Finance Agency, “Hardest Hit Fund™ & Performance Reporting, Quarterly Reports, Quarter 1 – January – March 2016,” no date, www.ncforeclosureprevention.gov/hardest_hit_funds.aspx, accessed 7/5/2016. 185. 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, 4/4/2016, and 7/5/2016; Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/ reports/Documents/Housing%20Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016. 186. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 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. 187. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 7/5/2016. 188. Treasury, responses to SIGTARP data calls, 7/8/2014, and 7/5/2016. 189. Treasury, response to SIGTARP data call, 7/5/2016. 190. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 191. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; 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, 4/4/2016, and 7/5/2016; Ohio Homeowner Assistance LLC, “Save the Dream Ohio: Quarterly Reports, First Quarter 2016 Report” ohiohome.org/savethedream/quarterlyreports.aspx, accessed 7/5/2016; SIGTARP analysis of Ohio Homeowner Assistance LLC quarterly performance report. 192. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 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. 193. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 7/5/2016. 194. Oregon Affordable Housing Assistance Corporation, “Oregon Homeownership Stabilization Initiative, Reporting, OHSI Quarter 1 2016 Report (January – March 2016),” no date, www.oregonhomeownerhelp.org/en/reporting, accessed 7/5/2016. 195. Treasury, responses to SIGTARP data calls, 7/8/2014 and 7/5/2016. 196. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury, responses to SIGTARP data calls, 4/4/2016, and 7/5/2016. 197. 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, 4/4/2016, and 7/5/2016; Transactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/ reports/Documents/Housing%20Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016. 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. 198. Oregon Affordable Housing Assistance Corporation, fifteenth Amendment to Agreement, www.treasury.gov/initiatives/financial-stability/TARPPrograms/housing/Documents/(9461638)_(2)_Redacted%2015th%20Amendment%20to%20HPA%20-%20Oregon.pdf, accessed 7/5/2016; Treasury, response to SIGTARP data call, 7/5/2016. 199. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 7/5/2016. SIGTARP QUARTERLY REPORT TO CONGRESS I JULY 27, 2016 200. Rhode Island Housing and Mortgage Finance Corporation, “Hardest Hit Fund – Rhode Island, About HHFRI, REPORTS, Q1 2016,” no date, www.hhfri.org/HHFRI_Dynamic_Content.aspx?id=10737418256&ekmensel=c580fa7b_10737418238_10737418240_btnlink, accessed 7/5/2016. 201. 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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. 205. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 7/5/2016. 206. SC Housing Corp, “SC HELP, Reports, Quarter ending March 31, 2016,” no date, www.schelp.gov/Resources/Reports.aspx, accessed 7/5/2016. 207. 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Additionally, cash-on-hand may include lien recoveries and borrower remittances. 209. ransactions Report-Housing Programs, 6/28/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/Housing%20 T Transactions%20Report%20as%20of%2006.28.2016.pdf, accessed 7/5/2016; Treasury Press Release, “Treasury Announces Additional Investment in Hardest Hit Fund,” www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx, accessed 7/5/2016. 210. Tennessee Housing Development Agency, “Keep My Tennessee Home, Reports, First Quarter 2016 Report,” no date, www.keepmytnhome.org/ news-and-reports/, accessed 7/5/2016. 211. Treasury, responses to SIGTARP data calls, 10/6/2014 and 7/5/2016. 212. 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Treasury, Transactions Report, 7/5/2016, www.treasury.gov/initiatives/financial-stability/reports/Documents/07-05-16%20Transactions%20 Report%20as%20of%2006-30-16_INVESTMENT.pdf, accessed 7/5/2016. 295. Treasury, response to SIGTARP data call, 7/5/2016. 296. Treasury, response to SIGTARP data call, 7/8/2016. 297. Treasury, response to SIGTARP data call, 7/8/2016. 298. Treasury, response to SIGTARP data call, 7/8/2016. 299. Treasury, response to SIGTARP data call, 7/8/2016. 300. Fannie Mae, response to SIGTARP data call, 7/1/2016; Freddie Mac, response to SIGTARP data call, 7/11/2016. 301. Treasury, response to SIGTARP data call, 7/8/2016. 302. Emergency Economic Stabilization Act of 2008, P.L. 110-343, 10/3/2008. 303. Treasury, response to SIGTARP data call, 7/8/2016. GLOSSARY I APPENDIX A I JULY 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. Equity: Investment that represents an ownership interest in a business. 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. 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. 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. 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. 263 264 APPENDIX A I GLOSSARY I JULY 27, 2016 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 7/1/2016. 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 7/1/2016. FCIC, glossary, no date, www.fcic.gov/resource/glossary, accessed 7/1/2016. FDIC, “Credit Card Securitization Manual,” no date, www.fdic.gov/regulations/examinations/credit_ card_securitization/glossary.html, accessed 7/1/2016. FDIC, “FDIC Law, Regulations, Related Acts,” no date, www.fdic.gov/regulations/laws/ rules/2000-4600.html, accessed 7/1/2016. FRBNY, “TALF FAQ’s,” 7/21/2010, www.newyorkfed.org/markets/talf_faq.html, accessed 7/1/2016. 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 7/1/2016. 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Treasury, “TARP Standards for Compensation and Corporate Governance,” 6/10/2009, www. treasury.gov/press-center/press-releases/Pages/tg165.aspx, accessed 7/1/2016. 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 7/1/2016. U.S. Department of Housing and Urban Development, “Glossary,” no date, www.huduser.org/portal/ glossary/glossary_all.html, accessed 7/1/2016. ACRONYMS AND ABBREVIATIONS I APPENDIX B I JULY 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 BAC Auto Warranty Commitment Program Bank of America Corp. Bank of America Bank of America Corp. BOC Bank of the Commonwealth CDCI Community Development Capital Initiative CDFI Community Development Financial Institution CDOs Collateralized Debt Obligations CFPB Consumer Financial Protection Bureau Chrysler Chrysler Financial Citigroup CMBS Chrysler LLC Chrysler Financial Services Americas LLC Citigroup Inc. commercial mortgage-backed securities Countrywide Countrywide Financial Corporation 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 NHTSA NPV NYDFS OCC National Credit Union Administration National Highway Traffic Safety 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 PII personally identifiable information PPIF Public-Private Investment Fund DPA deferred prosecution agreement PPIP Public-Private Investment Program DOJ Department of Justice PRA Principal Reduction Alternative Emergency Economic Stabilization Act of 2008 PSA Pooling and Servicing Agreements EESA Fannie Mae Federal National Mortgage Association FDIC Federal Reserve FHA Fifth Third FIRREA Federal Deposit Insurance Corporation Federal Reserve Federal Housing Administration Fifth Third Bancorp Financial Institutions Reform, Recovery and Enforcement Act 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 RD Department of Agriculture Office of Rural Development RD-HAMP Department of Agriculture Office of Rural Development HAMP RICO Federal Racketeer-Influenced and Corrupt Organization Act RMA Request for Mortgage Assistance RMBS SEC SAGN SIGTARP residential mortgage-backed securities Securities and Exchange Commission Saigon National Bank Office of the Special Inspector General for the Troubled Asset Relief Program SPV special purpose vehicle Home Affordable Modification Program SSFI Systemically Significant Failing Institutions program HFA Housing Finance Agency TALF Term Asset-Backed Securities Loan Facility HHF Housing Finance Agency Hardest Hit Fund 265 266 APPENDIX B I ACRONYMS AND ABBREVIATIONS I JULY 27, 2016 TARP Troubled Asset Relief Program TBW TIP Taylor, Bean and Whitaker Mortgage Corporation Targeted Investment Program 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 VA HAMP WTC Home Affordable Unemployment Program Department of Veterans Affairs–Home Affordable Modification Program Wilmington Trust Company 11/16/2012 9/20/2012 9/19/2012 9/18/2012 3/27/2009 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 Alpine Banks of Colorado, Glenwood Springs, CO8,14 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 $70,000,000.00 $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 $73,129,160.69 $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 CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 TABLE C.1 $50,160,264.00 $6,559,920.24 $280,115.76 $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 ($570,003.00) ($90,025.20) ($25,000.00) ($7,324.33) ($42,675.67) ($64,026.11) ($1,506.21) ($50,000.00) Auction Fee4 61,600 8,056 344 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 $814.29 $814.29 $814.29 $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 ($11,439,736.00) ($1,496,079.76) ($63,884.24) ($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 $3,291,750.00 $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 $0.60 $28.63 $37.52 $26.29 $32.33 $0.35 $9.12 $32.39 $258.91 $22.73 $12.02 Stock Price as of Warrant Sales 6/30/2016 80,153 Current Outstanding Warrants Continued on next page $13,407,113.69 $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 JULY 27, 2016 267 9/30/2009 8/5/2009 12/19/2008 8/18/2011 7/10/2009 7/14/2011 3/13/2009 8/28/2013 7/31/2013 1/30/2009 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 1/9/2009 1/26/2011 5/29/2009 7/29/2009 6/17/2009 1/9/2009 9/15/2011 3/6/2009 9/22/2011 1/30/2009 $3,388,890,000.00 $2,492,000.00 $3,674,000.00 $1,800,000.00 American Express Company, New York, NY11 AmeriBank Holding Company/American Bank of Oklahoma, Collinsville, OK8,14,44 AMB Financial Corp., Munster, IN8,14,45 Bancorp Rhode Island, Inc., Providence, RI11 Bancorp Financial, Inc., Oak Brook, IL8,17,44 BancIndependent, Inc., Sheffield, AL8,44 Avidbank Holdings, Inc./Peninsula Bank Holding Co., Palo Alto, CA11 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 $30,000,000.00 $13,669,000.00 $21,100,000.00 $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 American State Bancshares, Inc., Great Bend, KS8,11,14 Ameris Bancorp, Moultrie, GA $6,000,000.00 American Premier Bancorp, Arcadia, CA8,11,14 $32,341,666.66 $15,595,736.93 $24,841,411.03 $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 Total Cash Back2 $30,000,000.00 $13,669,000.00 $21,100,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($25,000.00) ($48,000.00) ($725,868.00) Auction Fee4 30,000 13,669 21,100 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 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 $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 Average Price of Shares Disposed ($104,000,000.00) ($97,040.00) ($88,000.00) ($14,960.00) ($3,608,800.00) (Realized Loss) / (Write-off) $7,500.00 $292,500.00 Gain5 $1,400,000.00 $410,000.00 $1,055,000.00 $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 $14.65 $19.65 $17.15 $13.01 $25.11 $3.02 $29.70 $60.76 $12.60 Stock Price as of Warrant Sales 6/30/2016 Current Outstanding Warrants Continued on next page $941,666.66 $1,516,736.93 $2,686,411.03 $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 Dividend/Interest Paid to Treasury 268 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 6/12/2013 4/3/2012 11/21/2008 3/26/2013 1/11/2013 11/9/2012 2/13/2009 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 Banner Corporation/ Banner Bank, Walla Walla, WA BankGreenville Financial Corporation, Greenville, SC8,14 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 $124,000,000.00 $1,000,000.00 $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 $129,079,862.47 $1,100,653.50 $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 Total Cash Back2 $109,717,680.00 $900,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($1,645,765.20) ($16,000.00) ($9,000.00) ($25,000.00) ($25,000.00) ($15,670.63) ($9,329.37) ($84,509.62) Auction Fee4 124,000 1,000 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 Number of Shares Disposed $884.82 $900.00 $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 Average Price of Shares Disposed ($14,282,320.00) ($100,000.00) ($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 $134,201.00 $21,880.50 $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 $42.04 $41.97 $41.97 $36.83 $49.22 $6.35 $18.33 $13.27 $24.85 Stock Price as of Warrant Sales 6/30/2016 730,994 Current Outstanding Warrants Continued on next page $20,873,746.67 $203,773.00 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 269 2/10/2012 3/6/2009 1/11/2013 10/31/2012 10/29/2012 3/6/2009 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 6/12/2009 Blue River Bancshares, Inc., Shelbyville, IN8,64,97 Blue Ridge Bancshares, Inc., Independence, MO8,14 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 Berkshire Bancorp, Inc./Customers Bancorp, Inc., Phoenixville, PA8,11,14 $5,000,000.00 $12,000,000.00 $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 $529,105.00 $11,938,437.34 $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 $9,040,370.00 $19,630.00 $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 $7,263,316.66 $13,371,500.00 $2,315,853.14 $3,293,353,918.53 $20,037,514.11 $942,411.42 $1,200,000.00 $6,000,000.00 $10,800,000.00 $1,706,000.00 $3,133,640,000.00 $18,751,000.00 $795,000.00 6/27/2012 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 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 Total Cash Back2 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($90,600.00) ($91,000.00) ($62,329.60) Auction Fee4 11,974 26 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 Number of Shares Disposed $755.00 $755.00 $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 Average Price of Shares Disposed ($5,000,000.00) ($2,933,630.00) ($6,370.00) ($881,550.00) ($18,450.00) ($99,180.00) ($67,860.00) (Realized Loss) / (Write-off) Gain5 $541,793.34 $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 $0.02 $17.40 $18.12 $8.79 $26.89 $78.75 $13.01 $33.27 $33.22 Stock Price as of Warrant Sales 6/30/2016 Current Outstanding Warrants Continued on next page $529,105.00 $2,427,244.00 $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 Dividend/Interest Paid to Treasury 270 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 11/2/2011 3/13/2009 4/24/2013 1/9/2013 5/23/2012 4/24/2009 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 Butler Point, Inc., Catlin, IL8,11,14 Business Bancshares, Inc., Clayton, MO8,11,14 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 $607,000.00 $15,000,000.00 $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 $724,123.53 $18,707,708.84 $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 Total Cash Back2 $607,000.00 $6,500,000.00 $2,500,000.00 $6,000,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($25,000.00) ($104,500.00) ($61,787.30) ($201,147.00) ($431,964.75) ($212,630.18) Auction Fee4 607 6,500 2,500 6,000 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 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 $1,000.00 $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 Average Price of Shares Disposed ($27,550,000.00) ($2,462,350.20) ($414,215.00) ($72,767.50) (Realized Loss) / (Write-off) $117,023.40 $3,000.60 $592,730.46 $21,546.00 $154.44 Gain5 $30,000.00 $750,000.00 $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 $1.93 $33.38 $11.45 $15.00 $21.12 $8.27 Stock Price as of Warrant Sales 6/30/2016 Current Outstanding Warrants Continued on next page $87,123.53 $2,957,708.84 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 271 California Bank of Commerce, Lafayette, CA8,14,44 2/27/2009 Capital Commerce Bancorp, Inc., Milwaukee, WI8,128 4/10/2009 6/30/2011 11/21/2008 8/27/2010 1/16/2009 4/19/2013 2/13/2009 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 Cascade Financial Corporation, Everett, WA Carver Bancorp, Inc, New York, NY9,11,36 Carrollton Bancorp, Baltimore, MD11 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 Bank Corporation, Raleigh, NC39 1/28/2011 12/12/2008 12/30/2010 12/23/2008 $38,970,000.00 $18,980,000.00 $9,201,000.00 $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 CalWest Bancorp, Rancho Santa Margarita, CA8,130 1/23/2009 12/23/2015 Capital Bancorp, Inc., Rockville, MD8,11,14 $1,037,000.00 Calvert Financial Corporation, Ashland, MO8 2/17/2016 $3,300,000.00 1/23/2009 12/8/2010 California Oaks State Bank, Thousand Oaks, CA8,11,14 $4,000,000.00 $44,000,000.00 $4,640,000.00 $4,767,000.00 $20,000,000.00 1/23/2009 9/15/2011 3/4/2011 Cadence Financial Corporation, Starkville, MS125 Cache Valley Banking Company, Logan, UT8,14,18,44 C&F Financial Corporation, West Point, VA11 1/9/2009 7/14/2011 12/18/2009 12/23/2008 5/14/2014 4/11/2012 7/27/2011 1/9/2009 $17,678,900.00 $20,511,580.55 $11,388,958.51 $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 Total Cash Back2 $16,250,000.00 $18,980,000.00 $9,201,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($15,880.00) ($34,120.00) ($149,616.00) ($25,000.00) Auction Fee4 38,970 18,980 9,201 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 Number of Shares Disposed $416.99 $1,000.00 $1,000.00 $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 Average Price of Shares Disposed ($22,720,000.00) ($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 $213,594.16 $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 $5.22 $4.82 $5.90 $16.80 $69.31 $26.42 $0.39 Stock Price as of Warrant Sales 6/30/2016 749,619 167,504 Current Outstanding Warrants Continued on next page $1,428,900.00 $1,531,580.55 $1,974,364.35 $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 Dividend/Interest Paid to Treasury 272 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 $24,300,000.00 Cecil Bancorp, Inc., Elkton, MD $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) 7/6/2011 1/30/2009 8/29/2014 2/27/2009 10/19/2011 8/25/2011 12/5/2008 4/15/2009 3/31/2009 1/16/2009 10/28/2009 9/30/2009 11/21/2008 Central Bancshares, Inc., Houston, TX8,11,14 Central Bancorp, Inc., Garland, TX8,113 Central Bancorp, Inc., Somerville, MA45 Centra Financial Holdings, Inc., Morgantown, WV8,11,14 Centerstate Banks of Florida Inc., Davenport, FL12,16 $5,800,000.00 $22,500,000.00 $10,000,000.00 $15,000,000.00 $27,875,000.00 $6,859,176.83 $31,086,221.13 $13,886,111.11 $15,922,937.50 $29,283,302.58 $2,344,662.43 $65,855,083.33 $11,586,666.67 $4,672,098.50 $5,800,000.00 $22,500,000.00 $10,000,000.00 $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) $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 CBS Banc-Corp., Russellville, AL8,14 ($363.42) 3/27/2009 3/26/2013 $2,831,259.86 $1,268,825.60 $6,500,000.00 $129,000,000.00 $129,000,000.00 ($32,969.92) $4,982,141.86 $271,579.53 $7,448,071.47 $329,874,444.96 Auction Fee4 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 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 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 Total Cash Back2 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 5,800 22,500 10,000 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 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 $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 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) (Realized Loss) / (Write-off) Gain5 $290,000.00 $1,125,000.00 $2,525,000.00 $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 $22.02 $45.96 $36.70 $14.89 $15.19 $16.35 $0.33 $17.00 $28.33 Stock Price as of Warrant Sales 6/30/2016 261,538 523,076 Current Outstanding Warrants Continued on next page $769,176.83 $7,461,221.13 $1,361,111.11 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 273 $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 $3,000,000.00 9/1/2010 8/4/2010 1/16/2009 1/31/2011 12/10/2010 10/28/2008 12/10/2009 12/31/2008 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 Citizens & Northern Corporation, Wellsboro, PA11 Citigroup Inc., New York, NY19,30 CIT Group Inc., New York, NY23 Chicago Shore Corporation, Chicago, IL8 Chambers Bancshares, Inc., Danville, AR15 Century Financial Services Corporation, Santa Fe, NM14,15 $26,440,000.00 $25,000,000,000.00 $2,330,000,000.00 $7,000,000.00 $19,817,000.00 $10,000,000.00 $28,889,100.00 $32,839,267,986.46 $43,687,500.00 $8,981,348.81 $32,098,302.62 $13,186,960.25 $26,440,000.00 $25,000,000,000.00 $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 10/18/2013 $11,205,387.14 $5,333,059.60 $15,043,340.40 $8,211,450.00 $8,887,791.42 $6,739,821.89 $3,800,656.00 $8,077,516.47 $75,036,891.42 $12,704,145.10 $3,612,118.06 $25,797,528.80 9/25/2013 1/9/2009 $32,668,000.00 $7,500,000.00 Centrix Bank & Trust, Bedford, NH8,14,44 2/6/2009 7/28/2011 Centrue Financial Corporation, Ottawa, IL $6,056,000.00 Centric Financial Corporation, Harrisburg, PA8,17,44 7/14/2011 10/1/2013 12/18/2009 $11,385,000.00 $7,000,000.00 $135,000,000.00 $11,300,000.00 $7,225,000.00 $22,000,000.00 Central Virginia Bankshares, Inc., Powhatan, VA93 Central Valley Community Bancorp, Fresno, CA45 Central Pacific Financial Corp., Honolulu, HI40 Central Jersey Bancorp, Oakhurst, NJ11 Central Federal Corporation, Fairlawn, OH Central Community Corporation, Temple, TX8,14 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 12/10/2012 2/20/2009 Total Cash Back2 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($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 26,440 7,692,307,692 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 Number of Shares Disposed $1,000.00 $4.14 $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 Average Price of Shares Disposed ($2,330,000,000.00) ($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) $6,852,354,470.95 Gain5 $400,000.00 $54,621,848.84 $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 $19.88 $41.75 $31.03 $17.40 $38.20 $11.13 $21.77 $12.35 $1.35 Stock Price as of Warrant Sales 6/30/2016 508,320 Current Outstanding Warrants Continued on next page $2,049,100.00 $932,291,666.67 $43,687,500.00 $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 Dividend/Interest Paid to Treasury 274 APPENDIX C I TRANSACTION DETAIL I JULY 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 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 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 12/23/2008 CoastalSouth Bancshares, Inc., Hilton Head Island, SC8,17 Coastal Banking Company, Inc., Fernandina Beach, FL82 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,MI86 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 $16,015,000.00 $9,950,000.00 $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 $14,257,487.71 $11,166,897.79 $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 Total Cash Back2 $12,335,976.50 $397,550.00 $5,730,600.00 $3,772,645.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($127,335.27) ($95,032.45) ($25,000.00) ($25,000.00) ($128,073.75) Auction Fee4 15,515 500 6,000 3,950 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 Number of Shares Disposed $795.10 $795.10 $955.10 $955.10 $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 Average Price of Shares Disposed ($3,179,023.50) ($102,450.00) ($269,400.00) ($177,355.00) ($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) (Realized Loss) / (Write-off) Gain5 $25,990.47 $389,857.05 $225,647.45 $99,000.00 $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 $12.40 $57.56 $6.67 $13.80 $9.25 $6.50 $0.01 Stock Price as of Warrant Sales 6/30/2016 254,218 Current Outstanding Warrants Continued on next page $1,235,448.96 $1,434,037.79 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 275 2/11/2015 7/24/2009 9/29/2010 9/11/2009 7/18/2012 3/6/2009 12/19/2012 1/16/2009 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 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 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 $3,872,000.00 $52,000,000.00 $500,000.00 $2,550,000.00 $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 $5,197,157.57 $57,575,699.54 $616,741.75 $2,899,659.67 $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 Total Cash Back2 $3,872,000.00 $52,000,000.00 $500,000.00 $2,550,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($73,236.51) ($153,000.00) ($218,990.80) ($90,375.00) Auction Fee4 3,872 52,000 500 2,550 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 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 $1,000.00 $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 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) (Realized Loss) / (Write-off) Gain5 $116,000.00 $2,600,000.00 $25,000.00 $128,000.00 $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 $10.65 $15.86 $37.87 $29.92 $9.19 $20.22 $11.82 Stock Price as of Warrant Sales 6/30/2016 Current Outstanding Warrants Continued on next page $1,209,157.57 $3,193,250.19 $91,741.75 $221,659.67 $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 Dividend/Interest Paid to Treasury 276 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 7/6/2011 1/9/2009 9/12/2013 8/12/2013 11/13/2009 10/26/2011 8/11/2011 1/30/2009 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 Trust Financial Corporation, Ruston, LA8,14,44 Community Pride Bank Corporation, Ham Lake, MN15,17 Community Partners Bancorp, Middletown, NJ44 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 Community Bank Shares of Indiana, Inc., New Albany, IN44 Community Bank of the Bay, Oakland, CA9,11,36 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 1/16/2009 $24,000,000.00 $4,400,000.00 $9,000,000.00 $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 $28,459,100.00 $5,462,045.14 $10,598,750.00 $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 Total Cash Back2 $24,000,000.00 $4,400,000.00 $9,000,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($48,849.24) ($300.00) ($24,700.00) ($14,972.50) ($10,027.50) ($53,507.03) ($125,724.27) ($25,000.00) Auction Fee4 24,000 4,400,000 9,000 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 Number of Shares Disposed $1,000.00 $1.11 $1,000.00 $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 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) $484,924.00 Gain5 $1,200,000.00 $177,716.96 $460,000.00 $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 $9.50 $44.34 $47.78 $13.11 $5.00 $31.32 Stock Price as of Warrant Sales 6/30/2016 Current Outstanding Warrants Continued on next page $3,259,100.00 $448,253.42 $1,138,750.00 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 277 3/26/2013 2/8/2013 2/7/2013 12/4/2009 9/8/2011 5/15/2009 9/27/2011 2/27/2009 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 Delmar Bancorp, Delmar, MD8,14 Deerfield Financial Corporation, Deerfield, WI14,15,44 D.L. Evans Bancorp, Burley, ID8,14,44 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 $9,000,000.00 $2,639,000.00 $19,891,000.00 $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 $6,598,331.15 $3,283,338.96 $23,686,592.33 $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 Total Cash Back2 $215,462.72 $5,293,527.28 $2,639,000.00 $19,891,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($55,089.90) ($25,000.00) ($104,611.76) ($69,071.98) ($19,513.20) ($5,486.80) ($25,000.00) ($112,944.00) Auction Fee4 352 8,648 2,639,000 19,891 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 Number of Shares Disposed $612.11 $612.11 $1.00 $1,000.00 $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 Average Price of Shares Disposed ($136,537.28) ($3,354,472.72) ($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 Gain5 $311,943.55 $132,000.00 $995,000.00 $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 $17.45 $23.67 $11.90 $8.10 $11.82 Stock Price as of Warrant Sales 6/30/2016 514,693 Current Outstanding Warrants Continued on next page $832,487.50 $512,338.96 $2,800,592.33 $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 Dividend/Interest Paid to Treasury 278 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 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 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 Enterprise Financial Services Corp., St. Louis, MO11 Encore Bancshares Inc., Houston, TX45 Emclaire Financial Corp., Emlenton, PA44 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 $35,000,000.00 $34,000,000.00 $7,500,000.00 $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 DeSoto County Bank, Horn Lake, MS8,18 12/29/2009 9/24/2013 $1,173,000.00 2/13/2009 $42,801,933.33 $39,415,959.89 $8,545,904.67 $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 Total Cash Back2 $35,000,000.00 $34,000,000.00 $7,500,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($264,986.40) ($807,103.48) ($149,299.61) ($33,333.34) Auction Fee4 35,000 34,000 7,500 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 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 $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 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) (Realized Loss) / (Write-off) $2,092,611.00 $406,029.00 Gain5 $1,006,100.00 $637,071.00 $51,113.00 $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 $27.04 $25.00 $6.69 $32.48 $48.00 $28.52 $50.92 Stock Price as of Warrant Sales 6/30/2016 324,074 Current Outstanding Warrants Continued on next page $6,795,833.33 $4,778,888.89 $994,791.67 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 279 $47,294,527.29 $8,750,000.00 $4,000,000.00 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 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 Enterprises, Inc., Great Bend, KS14,15 Farmers Capital Bank Corporation, Frankfort, KY Farmers Bank, Windsor, VA8,11 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 $12,000,000.00 $30,000,000.00 $8,752,000.00 $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 $15,452,669.34 $27,105,349.50 $11,396,202.11 $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 $11,458,510.00 $96,290.00 $22,196,700.00 $5,689,000.00 $3,063,000.00 $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 8/8/2012 Exchange Bank, Santa Rosa, CA8,14 $8,750,000.00 $4,000,000.00 $481,387.50 Equity Bancshares, Inc., Wichita, KS8,44,73 Enterprise Financial Services Group, Inc., Allison Park, PA8,14,44 8/3/2012 12/19/2008 8/11/2011 1/30/2009 8/25/2011 6/12/2009 Total Cash Back2 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($115,548.00) ($332,950.50) ($25,000.00) ($135,788.63) ($25,000.00) ($161,500.00) ($76,757.21) ($376,357.50) Auction Fee4 11,900,000 100,000 30,000 5,689 3,063 442 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 Number of Shares Disposed $0.96 $0.96 $739.89 $1,000.00 $1,000.00 $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 Average Price of Shares Disposed ($441,490.00) ($3,710.00) ($7,803,300.00) ($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 $552,936.00 $37,387.14 $75,000.00 $438,000.00 ($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 $26.42 $13.01 $21.00 $6.75 Stock Price as of Warrant Sales 6/30/2016 Current Outstanding Warrants Continued on next page $3,423,094.20 $5,166,600.00 $2,206,202.11 $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 Dividend/Interest Paid to Treasury 280 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 $3,942,000.00 $7,289,000.00 $9,294,000.00 $21,042,000.00 $3,035,000.00 $700,000.00 $40,966,780.82 Financial Security Corporation, Basin, WY8,14,45 Financial Institutions, Inc., Warsaw, NY11 Fifth Third Bancorp, Cincinnati, OH11 Fidelity Southern Corporation, Atlanta, GA Financial Services of Winger, Inc., Winger, MN15,17,44 7/31/2009 9/1/2011 7/21/2011 2/13/2009 5/11/2011 3/30/2011 2/23/2011 12/23/2008 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 $3,742,000.00 $5,000,000.00 $37,515,000.00 $3,408,000,000.00 $48,200,000.00 $4,487,322.46 $5,914,597.33 $43,787,611.61 $4,043,972,602.67 $82,715,982.47 $3,742,000.00 $5,000,000.00 $25,010,000.00 $12,505,000.00 $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 8/7/2012 $26,737.80 $36,282,000.00 $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 $18,874,674.00 $650,000.00 $700,000.00 8/2/2012 Fidelity Financial Corporation, Wichita, KS8,14 $7,220,908.83 $10,634,864.33 $5,404,924.35 $8,441,836.26 $11,156,234.25 $19,836,630.66 $804,592.16 $830,173.67 $120,320.10 $6,657,000.00 Fidelity Bancorp, Inc./WesBanco, Inc., Pittsburgh, PA77 Fidelity Federal Bancorp, Evansville, IN8,17 $7,000,000.00 Fidelity Bancorp, Inc, Baton Rouge, LA11,15,44 FFW Corporation, Wabash, IN8,14 FCB Bancorp, Inc., Louisville, KY8,14,45 FC Holdings, Inc., Houston, TX8,14 FBHC Holding Company, Boulder, CO15,17 Farmers State Bankshares, Inc., Holton, KS8,14,45 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 12/29/2009 7/21/2011 3/20/2009 Total Cash Back2 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($651,133.80) ($323,366.95) ($70,490.97) ($65,812.38) ($188,746.74) Auction Fee4 3,742,000 5,000 5,002 2,501 136,320 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 Number of Shares Disposed $1.00 $1,000.00 $5,000.00 $5,000.00 $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 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) (Realized Loss) / (Write-off) $366,240.20 $25,857.10 Gain5 $112,000.00 $250,000.00 $2,079,962.50 $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 $29.07 $16.69 $16.04 Stock Price as of Warrant Sales 6/30/2016 Current Outstanding Warrants Continued on next page $633,322.46 $664,597.33 $4,192,649.11 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 281 $50,000,000.00 $3,422,000.00 $1,177,000.00 $17,000,000.00 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 8/24/2011 7/14/2011 12/19/2008 1/11/2013 12/20/2012 12/19/2012 12/11/2009 4/10/2009 11/23/2011 8/25/2011 3/6/2009 10/29/2013 First California Financial Group, Inc, Westlake Village, CA45 First Business Bank, National Association/ Bank of Southern California, N.A. San Diego, CA8,14,18 $25,000,000.00 $2,032,000.00 $2,211,000.00 $100,000,000.00 $28,810,847.55 $4,693,275.61 $112,410,898.89 $25,000,000.00 $2,510,399.84 $1,373,084.00 $100,000,000.00 $3,226,801.50 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 $3,675,000.00 $3,675,000.00 $12,171,950.00 $295,400,000.00 $11,941,222.22 $3,960,105.00 $9,050,516.50 8/8/2013 First Banks, Inc., Clayton, MO8 $10,000,000.00 $3,345,000.00 $7,350,000.00 $105,000.00 First Bankers Trustshares, Inc., Quincy, IL8,14,45 First Bank of Charleston, Inc., Charleston, WV8,14,45 First BancTrust Corporation, Paris, IL8,11,14 8/9/2013 12/31/2008 9/8/2011 1/16/2009 7/21/2011 2/6/2009 10/24/2012 1/18/2012 2/20/2009 $29,708,351.90 $8,514,153.00 $81,000,000.00 $65,000,000.00 $17,000,000.00 3/6/2015 $174,125,772.24 $74,518,906.44 $18,204,166.78 $35,000,000.00 $15,000,000.00 $2,395,742.20 $366,469.68 $690,723.49 $22,063,492.11 $400,000,000.00 First Bancorp, Troy, NC45 First BanCorp, San Juan, PR34,118,121 $65,000,000.00 First American International Corp., Brooklyn, NY9,11,36 $65,558,530.56 $3,003,674.75 $1,289,436.37 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 Total Cash Back2 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($33,333.33) ($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 25,000 2,743 1,500 100,000 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 Number of Shares Disposed $1,000.00 $915.20 $915.39 $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 Average Price of Shares Disposed ($232,600.16) ($126,916.00) ($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 $599,042.00 $90,461.65 $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 $37.15 $20.48 $24.50 $17.10 $2.92 $18.85 Stock Price as of Warrant Sales 6/30/2016 389,484 616,308 Current Outstanding Warrants Continued on next page $3,211,805.55 $752,663.45 $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 Dividend/Interest Paid to Treasury 282 APPENDIX C I TRANSACTION DETAIL I JULY 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 $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 ($143,550.00) ($167,326.81) ($315,070.56) ($151,238.48) 500 11,350 10,685 14,800 41,500 4,500 23,184 5,036 10,958 $652.50 $982.83 $725.72 $1,000.00 $1,000.00 $1,000.00 $906.00 $1,000.00 $920.11 Average Price of Shares Disposed ($173,750.00) ($194,879.50) ($2,930,732.52) ($2,179,296.00) ($875,434.62) (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 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 2/15/2012 2/6/2009 9/17/2010 9/11/2009 3/11/2015 6/19/2012 12/5/2008 $37,000,000.00 $7,500,000.00 First Defiance Financial Corp., Defiance, OH First Financial Holdings Inc., Charleston, SC First Financial Bancshares, Inc., Lawrence, KS15,17,44 First Financial Bancorp, Cincinnati, OH12,16 $65,000,000.00 $3,756,000.00 $80,000,000.00 $16,500,000.00 First Express of Nebraska, Inc., Gering, NE8,11,14 First Federal Bancshares of Arkansas, Inc., Harrison, AR $5,000,000.00 First Eagle Bancshares, Inc., Hanover Park, IL11,15,36 $68,141,972.19 $4,563,280.34 $87,644,066.10 $6,570,625.00 $6,074,313.00 $8,514,738.21 $53,610,300.92 $56,778,150.00 $3,756,000.00 $80,000,000.00 $6,000,000.00 $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 ($851,672.25) ($534,276.30) 4,676 65,000 3,756,000 80,000 16,500 5,000 7,500,000 37,000 16,824 $873.51 $1.00 $1,000.00 $363.64 $1,000.00 $1.00 $962.66 $652.50 $652.50 ($8,221,850.00) ($10,500,000.00) ($1,381,580.00) ($5,846,340.00) ($1,624,910.00) $1,400,000.00 $113,000.00 $2,966,288.32 $250,000.00 $375,000.00 $11,979,295.00 $209,563.20 $440,082.72 $18.18 $9.27 $38.41 $14.42 $19.84 $10.31 $6.67 Stock Price as of Warrant Sales 6/30/2016 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 Number of Shares Disposed $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 Auction Fee4 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 Total Cash Back2 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 469,312 250,947 Current Outstanding Warrants Continued on next page $10,815,494.44 $694,280.34 $4,677,777.78 $570,625.00 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 283 6/24/2009 5/27/2009 11/21/2008 8/4/2011 First Niagara Financial Group, Lockport, NY12,16 First NBC Bank Holding Company, New Orleans, LA8,14,44 3/20/2009 8/29/2012 First National Corporation, Strasburg, VA8,14 First Midwest Bancorp, Inc., Itasca, IL11 First Merchants Corporation, Muncie, IN33,44,45 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 3/13/2009 12/21/2011 11/23/2011 12/5/2008 11/23/2011 9/22/2011 2/20/2009 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 $184,011,000.00 $17,836,000.00 $13,900,000.00 $193,000,000.00 $116,000,000.00 $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 $191,464,618.00 $21,033,989.56 $15,329,326.44 $222,528,333.33 $131,383,055.11 $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 Total Cash Back2 $184,011,000.00 $17,836,000.00 $12,266,750.00 $193,000,000.00 $116,000,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($184,001.25) ($25,000.00) ($26,633.25) ($23,366.75) ($68,910.46) ($80,257.50) ($108,422.00) Auction Fee4 184,011 17,836 13,900 193,000 116,000 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 Number of Shares Disposed $1,000.00 $1,000.00 $882.50 $1,000.00 $1,000.00 $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 Average Price of Shares Disposed ($1,633,250.00) ($3,150,887.04) ($886,325.00) ($676,352.29) ($2,601.01) ($674,250.00) ($9,157,800.00) (Realized Loss) / (Write-off) $1,695,000.00 Gain5 $2,700,000.00 $892,000.00 $624,674.69 $900,000.00 $367,500.00 $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 $9.68 $8.91 $18.02 $23.57 $32.91 $13.10 $31.32 Stock Price as of Warrant Sales 6/30/2016 Current Outstanding Warrants Continued on next page $4,753,618.00 $2,305,989.56 $2,621,903.00 $28,628,333.33 $15,015,555.11 $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 Dividend/Interest Paid to Treasury 284 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 First Reliance Bancshares, Inc., Florence, SC8,14 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 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 1/30/2009 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 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 12/11/2009 4/9/2013 3/11/2013 3/6/2009 3/26/2013 2/8/2013 $6,000,000.00 $30,000,000.00 $4,900,000.00 $17,969,000.00 $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 2/20/2009 First Place Financial Corp., Warren, OH73,97 First PacTrust Bancorp, Inc., Chula Vista, CA11 First Northern Community Bancorp, Dixon, CA44 12/18/2009 10/29/2012 3/13/2009 1/5/2011 12/15/2010 11/21/2008 11/16/2011 9/15/2011 3/13/2009 $6,662,770.42 $40,183,721.33 $5,211,020.69 $15,304,180.50 $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 Total Cash Back2 $6,000,000.00 $22,200,000.00 $7,800,000.00 $4,900,000.00 $13,750,058.49 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($300,603.00) ($137,500.58) ($49,501.10) ($104,313.34) ($80,930.24) Auction Fee4 6,000 22,200 7,800 4,900 17,969,000 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 Number of Shares Disposed $1,000.00 $1,002.01 $1,002.01 $1,000.00 $0.77 $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 Average Price of Shares Disposed ($4,218,941.51) ($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) (Realized Loss) / (Write-off) $44,622.00 $15,678.00 Gain5 $245,000.00 $117,162.42 $245,000.00 $644,726.19 $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 $10.95 $0.06 $13.94 $4.40 $18.09 $17.50 $7.72 Stock Price as of Warrant Sales 6/30/2016 326,323 114,080 Current Outstanding Warrants Continued on next page $417,770.42 $10,306,861.91 $66,020.69 $1,046,896.40 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 285 $125,000,000.00 $31,053,330.00 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 Freeport Bancshares, Inc., Freeport, IL15 Franklin Bancorp, Inc., Washington, MO8,14 $3,000,000.00 $5,097,000.00 $3,240,000.00 $5,800,000.00 FPB Bancorp, Inc., Port St. Lucie, FL50,97 7/15/2011 12/5/2008 9/15/2011 FPB Financial Corp., Hammond, LA8,11,14 $3,100,000.00 Fortune Financial Corporation, Arnold, MO8,14,45 4/3/2009 4/20/2012 $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 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 $4,363,022.95 $4,336,183.67 $3,623,721.50 $273,888.89 $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 $200,000.00 $2,800,000.00 $2,629,302.50 $594,550.00 $2,240,000.00 $1,000,000.00 $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 $10,994,240.00 $62,000.00 $6,138,000.00 3/26/2013 $266,657,000.00 $125,000,000.00 $33,000,000.00 $21,142,314.80 $1,439,258.50 FirstMerit Corporation, Akron, OH11 Firstbank Corporation, Alma, MI First Western Financial, Inc., Denver, CO8,14,18 $8,559,000.00 $11,881,000.00 3/27/2013 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 Total Cash Back2 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($25,000.00) ($25,000.00) ($2,430,578.56) ($465,799.95) ($109,942.41) ($62,000.00) Auction Fee4 200,000 2,800,000 4,157 940 2,240 1,000 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 Number of Shares Disposed $1.01 $1.01 $632.50 $632.50 $1,000.00 $1,000.00 $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 Average Price of Shares Disposed ($1,527,697.50) ($345,450.00) ($5,800,000.00) ($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) (Realized Loss) / (Write-off) $1,302.00 $18,228.00 Gain5 $42,257.17 $84,514.33 $45,188.88 $126,798.62 $162,000.00 $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 $24.74 $29.01 $21.62 $21.46 $21.05 $22.42 Stock Price as of Warrant Sales 6/30/2016 2,408,203 Current Outstanding Warrants Continued on next page $1,241,721.45 $965,343.67 $221,721.50 $273,888.89 $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 Dividend/Interest Paid to Treasury 286 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 $1,968,000.00 $35,000,000.00 $3,076,000.00 Grand Mountain Bancshares, Inc., Granby, CO8 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 5/29/2009 Green Bankshares, Inc., Greeneville, TN Great Southern Bancorp, Springfield, MO45 Great River Holding Company, Baxter, MN15 GrandSouth Bancorporation, Greenville, SC8,14,18,44 $2,443,320.00 Grand Financial Corporation, Hattiesburg, MS15 9/25/2009 7/8/2015 $72,278,000.00 $58,000,000.00 $8,400,000.00 $6,319,000.00 $9,000,000.00 $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 Goldwater Bank, N.A., Scottsdale, AZ8,127 Goldmans Sachs Group, Inc. New York, NY11 Gold Canyon Bank, Gold Canyon, AZ8,17,91,97 $4,967,000.00 $4,500,000.00 Georgia Primary Bank, Atlanta, GA8 Germantown Capital Corporation, Inc., Germantown, TN8,14 $8,700,000.00 $6,000,000.00 Georgia Commerce Bancshares, Inc., Atlanta, GA8,11,14 Gateway Bancshares, Inc., Ringgold, GA8,14 $376,500,000.00 Frontier Bancshares, Inc., Austin, TX11,14,15 Fulton Financial Corporation, Lancaster, PA11 $3,000,000.00 Fresno First Bank, Fresno, CA8,14,44 Fremont Bancorporation, Fremont, CA11,14,15 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 2/16/2011 2/6/2009 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 $74,642,857.78 $72,274,419.56 $11,306,571.15 $17,625,917.08 $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 Total Cash Back2 $68,700,000.00 $58,000,000.00 $3,600,000.00 $4,800,000.00 $15,319,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($100,212.00) ($25,000.00) ($25,000.00) Auction Fee4 72,278 58,000 3,600,000 4,800,000 15,319 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 Number of Shares Disposed $950.50 $1,000.00 $1.19 $1.19 $1,000.00 $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 Average Price of Shares Disposed ($3,578,000.00) ($1,220,000.00) ($1,607,000.00) ($443,778.06) ($2,606.23) ($2,943,855.00) (Realized Loss) / (Write-off) $694,800.00 $926,400.00 Gain5 $6,436,364.00 $626,007.69 $450,000.00 $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 $37.13 $12.63 $156.98 $13.38 Stock Price as of Warrant Sales 6/30/2016 Current Outstanding Warrants Continued on next page $5,942,857.78 $7,838,055.56 $759,575.46 $1,856,917.08 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 287 $425,000.00 Haviland Bancshares, Inc., Haviland, KS8,11,14 3/13/2009 9/28/2011 9/15/2011 12/19/2008 7/17/2012 9/11/2009 4/11/2016 3/6/2009 6/12/2013 5/15/2013 5/9/2012 12/19/2008 12/29/2010 Heartland Financial USA, Inc., Dubuque, IA45 Heartland Bancshares, Inc., Franklin, IN8,17 HCSB Financial Corporation, Loris, SC131 $81,698,000.00 $7,000,000.00 $12,895,000.00 $30,255,000.00 $6,800,000.00 Harbor Bankshares Corporation, Baltimore, MD8,9 7/17/2009 4/14/2014 Hawthorne Bancshares, Inc., Lee’s Summit, MO11 $80,347,000.00 Hampton Roads Bankshares, Inc., Norfolk, VA38 12/31/2008 4/13/2011 $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 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 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 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 7/30/2010 9/25/2009 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 $94,686,087.22 $8,321,471.08 $1,219,652.00 $36,849,504.67 $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 Total Cash Back2 $81,698,000.00 $7,000,000.00 $128,950.00 $18,255,000.00 $12,000,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($116,100.00) Auction Fee4 81,698 7,000 12,895 18,255 12,000 425 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 Number of Shares Disposed $1,000.00 $1,000.00 $10.00 $1,000.00 $1,000.00 $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 Average Price of Shares Disposed ($12,766,050.00) ($77,067,235.46) ($7,500,000.00) ($386,750.00) ($3,250.00) ($825,000.00) (Realized Loss) / (Write-off) Gain5 $1,800,000.00 $248,000.00 $540,000.00 $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 $30.79 $0.16 $14.75 $1.77 $14.97 $10.45 Stock Price as of Warrant Sales 6/30/2016 757,633 Current Outstanding Warrants Continued on next page $11,188,087.22 $1,073,471.08 $1,090,702.00 $6,054,504.67 $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 Dividend/Interest Paid to Treasury 288 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 $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 $6,700,000.00 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 ($187,590.00) ($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 11/23/2011 8/25/2011 11/10/2010 12/19/2008 1/16/2013 12/19/2012 12/12/2008 1/11/2013 10/31/2012 9/18/2009 3/26/2013 1/11/2013 11/30/2012 11/28/2012 2/13/2009 8/28/2013 2/20/2009 7/27/2011 7/6/2011 Horizon Bancorp, Michigan City, IN11,45 HopFed Bancorp, Hopkinsville, KY11 HomeTown Bankshares Corporation, Roanoke, VA8,17 Hometown Bancshares, Inc., Corbin, KY8,14 Hometown Bancorp of Alabama, Inc., Oneonta, AL8 $25,000,000.00 $18,400,000.00 $10,000,000.00 $1,900,000.00 $3,250,000.00 $29,857,321.83 $22,354,145.89 $11,111,011.94 $2,229,801.03 $4,214,202.31 $57,480,555.56 $50,000,000.00 $18,750,000.00 $6,250,000.00 $18,400,000.00 $9,185,000.00 $1,183,339.50 $608,170.50 $3,250,000.00 ($91,850.00) ($7,084.89) ($17,915.11) 50,000 $1,000.00 ($36,829.50) ($6,252,325.00) 18,750 6,250 18,400 10,000 1,255 645 3,250 $1,000.00 $1,000.00 $1,000.00 $918.50 $942.90 $942.90 $1,000.00 ($815,000.00) ($71,660.50) $1,750,551.00 $256,257.00 $315,461.52 $70,095.00 $163,000.00 $1,300,000.00 $24.72 $11.45 $9.30 $40.95 $11.26 $7.24 $18.00 $7.79 $17.57 $10.01 $21.00 Stock Price as of Warrant Sales 6/30/2016 $3,686,388.00 1/16/2009 $50,000,000.00 $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 Average Price of Shares Disposed 5/28/2015 Home Bancshares, Inc., Conway, AR11 22,450 3,550 4,000 6,700 5,450 25,000 21,000 24,000 40,000 7,497 2,606 Number of Shares Disposed $1,843,194.00 $26,563,769.78 Auction Fee4 5/26/2015 3/26/2013 $16,197,675.00 2/8/2013 $26,000,000.00 $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 $2,561,325.00 $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 2/7/2013 12/23/2008 HMN Financial, Inc., Rochester, MN $4,000,000.00 Hilltop Community Bancorp, Inc., Summit, NJ8,11,14 4/21/2010 1/30/2009 Highlands Independent Bancshares, Inc., Sebring, FL8,111 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 Total Cash Back2 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 3,106,771 253,666 Current Outstanding Warrants Continued on next page $3,106,770.83 $3,697,888.89 $1,702,400.42 $393,196.03 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 289 $5,976,000.00 $6,907,223.22 IBC Bancorp, Inc., Chicago, IL9,15,36 Iberiabank Corporation, Lafayette, LA12,16 12/5/2008 IBT Bancorp, Inc., Irving, TX8,14 Independent Bank Corporation, Ionia, MI29 Independent Bank Corp., Rockland, MA11 Independence Bank, East Greenwich, RI8 Illinois State Bancorp, Inc., Chicago, IL8,14,18,44 Idaho Bancorp, Boise, ID8,108 Indiana Bank Corp., Dana, IN8,22,92,97 Indiana Community Bancorp, Columbus, IN11 Integra Bank Corporation, Evansville, IN22,52,97 Intermountain Community Bancorp, Sandpoint, ID115 4/24/2009 12/12/2008 2/27/2009 12/19/2008 10/31/2014 11/20/2013 7/29/2011 9/12/2012 4/9/2013 8/30/2013 12/12/2008 5/27/2009 4/22/2009 1/9/2009 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 ICB Financial, Ontario, CA8,14,44 IBW Financial Corporation, Washington, DC8,10,11 3/13/2009 6/12/2013 3/27/2009 5/20/2009 3/31/2009 9/10/2010 5/15/2009 4/25/2014 3/17/2014 3/14/2014 $27,000,000.00 $83,586,000.00 $21,500,000.00 $1,312,000.00 $72,000,000.00 $78,158,000.00 $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 $90,000,000.00 $4,205,000.00 $33,955,519.23 $1,950,340.00 $27,331,250.00 $165,139.00 $83,430,000.00 $81,476,093.61 $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 $27,000,000.00 $21,500,000.00 $72,000,000.00 $78,158,000.00 $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 ($58,631.13) ($14,912.00) 9/18/2009 IA Bancorp, Inc./ Indus American Bank, Iselin, NJ8,17 $1,337,166.22 $1,594,356,808.56 $10,940,554.65 $7,119,793.05 ($10,088.00) $1,552,000.00 $1,398,071,000.00 $5,000,000.00 $4,000,000.00 $5,983,000.00 3/26/2013 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 Auction Fee4 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 Total Cash Back2 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 27,000 21,500 72,000 78,158 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 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 $1,000.00 $1.00 $981.11 $981.11 $650.00 $1,000.00 $1,000.00 $1,000.00 Average Price of Shares Disposed ($83,586,000.00) ($1,312,000.00) ($6,900,000.00) ($60,561.34) ($52,325.30) ($543,200.00) (Realized Loss) / (Write-off) $2,426,000.00 Gain5 $10,635.00 $1,800,000.00 $2,200,000.00 $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 $29.92 $12.19 $14.55 $45.96 $17.15 $51.27 $9.54 $12.03 Stock Price as of Warrant Sales 6/30/2016 Current Outstanding Warrants Continued on next page $6,944,884.23 $1,950,340.00 $4,031,250.00 $165,139.00 $9,004,000.00 $1,118,093.61 $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 Dividend/Interest Paid to Treasury 290 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Liberty Bancshares, Inc., Jonesboro, AR8,14,45 1/23/2009 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 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 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 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 $57,500,000.00 $5,498,000.00 $5,830,000.00 $13,400,000.00 $3,000,000.00 $56,044,000.00 $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 $68,191,965.77 $355,079.00 $6,731,961.06 $14,527,390.33 $2,932,162.50 $60,517,713.33 $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 Total Cash Back2 $57,500,000.00 $5,830,000.00 $13,400,000.00 $2,370,930.00 $56,044,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($1,290.71) ($23,709.29) ($25,000.00) ($242,500.00) Auction Fee4 57,500 5,830 13,400 3,000 56,044 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 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 $790.31 $1,000.00 $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 Average Price of Shares Disposed ($5,498,000.00) ($629,070.00) ($692,000.00) ($4,000,000.00) ($750,000.00) (Realized Loss) / (Write-off) Gain5 $2,875,000.00 $292,000.00 $602,557.00 $104,375.00 $877,557.00 $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 $16.07 $45.78 $10.15 $11.81 $11.04 $11.25 $59.22 $41.97 $24.66 Stock Price as of Warrant Sales 6/30/2016 Current Outstanding Warrants Continued on next page $7,816,965.77 $355,079.00 $609,961.06 $524,833.33 $481,857.50 $3,596,156.33 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 291 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 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 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 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 $2,639,000.00 $1,700,000.00 $57,000,000.00 $4,500,000.00 $13,795,000.00 $3,370,000.00 $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 $17,280,000.00 Liberty Shares, Inc., Hinesville, GA8,133 2/20/2009 9/24/2010 Lincoln National Corporation, Radnor, PA11 $5,645,000.00 Liberty Financial Services, Inc., New Orleans, LA9,11,36 2/6/2009 1/14/2015 $6,500,000.00 $21,900,000.00 Liberty Bancshares, Inc., Fort Worth, TX8,17 Liberty Bancshares, Inc., Springfield, MO8,14,45 12/4/2009 8/18/2011 2/13/2009 $3,438,793.11 $1,829,711.12 $62,949,121.28 $5,263,187.50 $16,146,467.87 $3,773,495.65 $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 $4,999,560.00 $6,106,008.58 $8,447,271.11 $25,995,452.08 Total Cash Back2 $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 $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 $3,600,000.00 $5,645,000.00 $6,500,000.00 $21,900,000.00 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($25,000.00) ($796,099.05) ($25,000.00) ($158,084.85) ($25,000.00) ($328,846.12) Auction Fee4 2,639,000 1,700 57,000 4,500 6,885 3,455 3,455 3,370 11,000 230,000 370,000 11,735 15,000 1,147 1,925 25,223 950,000 480,000 5,645 6,500 21,900 Number of Shares Disposed $0.98 $1,000.00 $931.11 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,022.61 $958.09 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $621.25 $621.25 $869.17 $1,000.00 $7.50 $1,000.00 $1,000.00 $1,000.00 Average Price of Shares Disposed ($52,595.27) ($3,926,730.00) ($461,010.00) ($434,426.25) ($729,093.75) ($3,299,925.09) ($13,680,000.00) (Realized Loss) / (Write-off) $76,195.70 Gain5 $95,959.50 $11,385.02 $63,363.90 $1,512,177.00 $225,000.00 $690,000.00 $182,878.45 $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 $21.09 $10.25 $10.25 $111.00 $13.51 $39.20 Stock Price as of Warrant Sales 6/30/2016 407,542 Current Outstanding Warrants Continued on next page $770,043.86 $66,347.22 $9,159,773.33 $538,187.50 $1,661,467.87 $169,421.50 $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 Dividend/Interest Paid to Treasury 292 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Mercantile Capital Corp., Boston, MA8,14,44 Mercantile Bank Corporation, Grand Rapids, MI11 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 Merchants and Planters Bancshares, Inc., Toone, TN8,14,56 Merchants and Manufacturers Bank Corporation, Joliet, IL8,14,44 3/6/2009 6/19/2009 $6,335,000.00 4/25/2014 3/17/2014 $6,200,000.00 Meridian Bank, Devon, PA8,18 2/13/2009 $3,510,000.00 $1,881,000.00 $3,500,000.00 $21,000,000.00 $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 12/11/2009 9/8/2011 9/7/2011 8/4/2011 2/6/2009 7/3/2012 6/6/2012 4/4/2012 5/15/2009 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 $13,582,165.84 $4,110,668.47 $2,231,560.00 $4,150,815.03 $31,631,120.56 $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 Total Cash Back2 $10,328,152.35 $3,510,000.00 $1,881,000.00 $3,500,000.00 $10,500,000.00 $10,500,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($103,281.52) ($25,000.00) ($255,688.75) ($182,517.30) ($25,000.00) ($25,000.00) Auction Fee4 12,535 3,510 1,881 3,500 10,500 10,500 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 Number of Shares Disposed $823.95 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $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 Average Price of Shares Disposed ($2,206,847.65) ($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) (Realized Loss) / (Write-off) $432,661.80 Gain5 $262,399.50 $176,000.00 $94,000.00 $175,000.00 $7,465,100.00 $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 $22.42 $32.45 $91.00 Stock Price as of Warrant Sales 6/30/2016 Current Outstanding Warrants Continued on next page $3,094,895.51 $424,668.47 $256,560.00 $475,815.03 $3,166,020.56 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 293 Monadnock Bancorp, Inc., Peterborough, NH8,11,14 Monarch Community Bancorp, Inc., Coldwater, MI98 2/6/2009 11/15/2013 $6,785,000.00 $1,834,000.00 $5,500,000.00 $5,116,000.00 Millennium Bancorp, Inc., Edwards, CO8 Mission Community Bancorp, San Luis Obispo, CA9,11 $7,260,000.00 Mid-Wisconsin Financial Services, Inc., Medford, WI8,11,14 12/19/2008 12/28/2012 $16,000,000.00 $700,000.00 $84,784,000.00 $10,000,000.00 MidWestOne Financial Group, Inc., Iowa City, IA11 Midwest Regional Bancorp, Inc./ The Bank of Otterville, Festus, MO8,11,14 Midwest Banc Holdings, Inc., Melrose Park, IL22,27,97 $5,222,000.00 MidSouth Bancorp, Inc., Lafayette, LA44 Midtown Bank & Trust Company, Atlanta, GA8 $20,000,000.00 Midland States Bancorp, Inc., Effingham, IL8,11,14 Mission Valley Bancorp, Sun Valley, CA9,11,36 8/20/2010 $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 $10,189,000.00 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 12/23/2008 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 11/10/2009 2/13/2009 5/14/2010 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 $4,808,121.00 $2,339,348.60 $5,956,041.66 $5,875,583.89 $4,296,561.73 $12,844,226.31 $18,933,333.33 $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 Total Cash Back2 $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 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($25,000.00) ($33,333.34) ($662,289.75) ($69,307.70) Auction Fee4 2,272,601 1,834 5,500 5,116 7,260 10,000 16,000 700 5,222 20,000 10,189 22,000 10,000 4,388 71,526 45,000 7,671 29 Number of Shares Disposed $2.00 $1,000.00 $1,000.00 $1,000.00 $400.00 $1,000.00 $1,000.00 $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 Average Price of Shares Disposed ($2,239,798.00) ($4,356,000.00) ($84,784,000.00) ($2,088,800.00) ($252,344.76) ($47,807,458.05) ($847,350.00) ($766,332.90) ($2,897.10) (Realized Loss) / (Write-off) Gain5 $92,000.00 $500,000.00 $1,000,000.00 $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 $7.79 $38.85 $27.45 $14.85 $32.48 Stock Price as of Warrant Sales 6/30/2016 73,099 Current Outstanding Warrants Continued on next page $262,919.00 $413,348.60 $456,041.66 $759,583.89 $1,392,561.73 $2,344,226.31 $1,933,333.33 $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 Dividend/Interest Paid to Treasury 294 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 2/15/2012 8/25/2011 1/16/2009 4/24/2013 6/19/2009 12/10/2014 12/19/2008 6/28/2013 New Hampshire Thrift Bancshares, Inc., Newport, NH44 NEMO Bancshares Inc., Madison, MO11,14,15 NCAL Bancorp, Los Angeles, CA8,119 NC Bancorp, Inc./ Metropolitan Bank Group, Inc., Chicago, IL8,42 6/26/2009 12/29/2010 Nationwide Bankshares, Inc., West Point, NE11,14,15 National Penn Bancshares, Inc., Boyertown, PA11,16 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 12/11/2009 4/13/2011 3/16/2011 12/12/2008 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 $10,000,000.00 $2,330,000.00 $10,000,000.00 $6,880,000.00 $2,000,000.00 $150,000,000.00 $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 $12,041,266.67 $3,199,347.39 $5,211,027.78 $2,613,714.23 $2,276,190.00 $167,958,333.33 $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 Total Cash Back2 $10,000,000.00 $2,330,000.00 $3,900,000.00 $2,281,458.05 $2,000,000.00 $150,000,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($185,031.79) ($25,000.00) Auction Fee4 10,000 2,330,000 10,000 6,880 2,000,000 150,000 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 Number of Shares Disposed $1,000.00 $1.00 $390.00 $331.61 $1.00 $1,000.00 $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 Average Price of Shares Disposed ($6,100,000.00) ($4,598,541.95) ($5,349,003.06) ($811,817.50) ($3,400,000.00) ($33,000.00) (Realized Loss) / (Write-off) Gain5 $737,100.00 $117,000.00 $100,000.00 $1,000,000.00 $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 $13.98 $0.72 $10.64 $25.20 $25.01 $16.61 Stock Price as of Warrant Sales 6/30/2016 342,610 Current Outstanding Warrants Continued on next page $1,304,166.67 $752,347.39 $1,311,027.78 $176,190.00 $16,958,333.33 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 295 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 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 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 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 $7,000,000.00 $2,080,000.00 $38,263,000.00 $13,500,000.00 $7,700,000.00 $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 $7,438,888.89 $2,654,758.89 $40,521,918.61 $15,871,250.00 $8,592,336.00 $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 Total Cash Back2 $7,000,000.00 $2,080,000.00 $38,263,000.00 $13,500,000.00 $7,095,550.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($70,955.50) ($108,371.55) ($513,507.46) Auction Fee4 7,000 2,080 38,263 13,500 7,700 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 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 $1,000.00 $921.50 $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 Average Price of Shares Disposed ($604,450.00) ($11,187,150.00) ($967,375.50) ($53,878.50) (Realized Loss) / (Write-off) $272,935.00 $64,220.00 Gain5 $225,000.00 $104,000.00 $430,797.00 $560,000.00 $122,887.50 $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 $18.03 $6.00 $17.68 $9.27 $9.80 $20.40 $65.17 $0.61 $10.61 $10.93 Stock Price as of Warrant Sales 6/30/2016 163,830 584,084 Current Outstanding Warrants Continued on next page $213,888.89 $470,758.89 $1,828,121.61 $1,811,250.00 $1,444,854.00 $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 Dividend/Interest Paid to Treasury 296 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 $100,000,000.00 $2,816,000.00 $5,500,000.00 Omega Capital Corp., Lakewood, CO8,14 6/5/2009 4/24/2009 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 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 1/16/2009 7/28/2011 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 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 $23,200,000.00 $6,500,000.00 $4,060,000.00 $4,120,000.00 $11,600,000.00 $16,200,000.00 $180,634,000.00 $6,100,000.00 $3,216,000.00 OneFinancial Corporation, Little Rock, AR15,17,129,134 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 $22,020,064.10 $7,937,744.97 $2,991,670.80 $18,087.94 $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 $11,216,640.00 $4,048,506.00 $1,676,654.00 $6,500,000.00 $2,519,960.80 $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 Old Second Bancorp, Inc., Aurora, IL $31,423,238.49 $102,713,888.89 3/26/2013 $73,000,000.00 $100,000,000.00 $24,684,870.00 Old National Bancorp, Evansville, IN11 3/11/2013 1/16/2009 5/8/2009 3/31/2009 12/12/2008 Total Cash Back2 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($169,418.00) ($25,000.00) ($196,857.54) ($25,000.00) ($25,000.00) ($258,053.73) Auction Fee4 15,360 5,544 2,296 6,500 4,060 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 Number of Shares Disposed $730.25 $730.25 $730.25 $1,000.00 $620.68 $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 Average Price of Shares Disposed ($4,143,360.00) ($1,495,494.00) ($619,346.00) ($1,540,039.20) ($4,120,000.00) ($14,650,702.97) ($10.28) ($5,500,000.00) ($1,103,920.56) ($747,576.00) ($45,343,130.00) (Realized Loss) / (Write-off) $3,485,754.00 $225,353.30 $177,053.10 Gain5 $325,200.40 $482,779.69 $88,059.01 $109,487.50 $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 $90.00 $15.19 $9.99 $11.25 $7.17 $12.19 Stock Price as of Warrant Sales 6/30/2016 19,552 Current Outstanding Warrants Continued on next page $4,351,643.00 $387,222.50 $18,087.94 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 297 Parkvale Financial Corpoation/F.N.B. Corporation, Monroeville, PA60 Parke Bancorp, Inc., Sewell, NJ Park National Corporation, Newark, OH11 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 4/4/2012 1/11/2012 3/2/2011 1/6/2010 1/9/2009 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 Peapack-Gladstone Financial Corporation, Gladstone, NJ11 $25,054,000.00 $18,000,000.00 $39,000,000.00 $9,960,000.00 $28,685,000.00 $27,877,966.16 $21,325,250.00 $44,926,557.48 $11,745,689.33 $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 $23,384,401.44 $18,000,000.00 $18,000,000.00 $21,000,000.00 $9,960,000.00 $14,341,000.00 $7,172,000.00 $7,172,000.00 $2,440,000.00 $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 6/5/2013 $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 $500,000.00 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 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 Total Cash Back2 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($350,766.02) ($297,361.77) ($25,000.00) ($117,128.64) Auction Fee4 25,054 18,000 18,000 21,000 9,960 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 Number of Shares Disposed $933.36 $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 $1,000.00 $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 Average Price of Shares Disposed ($1,669,598.56) ($4,421,208.60) ($153,927.72) (Realized Loss) / (Write-off) $1,993,817.14 $1,704,360.00 $622,446.27 Gain5 $425,000.00 $900,000.00 $1,200,724.15 $498,000.00 $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 $18.60 $19.54 $16.90 $11.02 $12.03 $13.01 $13.25 Stock Price as of Warrant Sales 6/30/2016 342,564 438,906 Current Outstanding Warrants Continued on next page $4,419,330.74 $2,425,250.00 $4,725,833.33 $1,287,689.33 $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 Dividend/Interest Paid to Treasury 298 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 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 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 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 Popular, Inc., San Juan, PR20 Plumas Bancorp, Quincy, CA Plato Holdings Inc., Saint Paul, MN15,17 Plains Capital Corporation, Dallas, TX8,14,44 $9,500,000.00 $6,784,000.00 $2,800,000.00 $35,000,000.00 $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 PGB Holdings, Inc., Chicago, IL9,11,36 Pierce County Bancorp, Tacoma, WA8,46,97 $1,500,000.00 PFSB Bancorporation, Inc., Pigeon Falls, WI8,17,45 $12,325,000.00 $3,900,000.00 Peoples Bancshares of TN, Inc., Madisonville, TN8,14 PeoplesSouth Bancshares, Inc., Colquitt, GA8 $12,660,000.00 Peoples Bancorporation, Inc., Easley, SC8,14 $467,412.50 $7,444,215.12 $3,596,579.20 $8,233,333.33 $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 Total Cash Back2 $6,784,000.00 $2,800,000.00 $806,200.00 $2,693,800.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($25,000.00) ($50,000.00) ($130,376.73) ($25,000.00) ($25,000.00) Auction Fee4 6,784,000 2,800 8,062 26,938 935,000 11,949 2,380,000 120,000 87,631 71,250 23,750 3,000 1,500 12,325 3,900 12,660 Number of Shares Disposed $1.00 $1,187.61 $100.00 $100.00 $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 Average Price of Shares Disposed ($9,500,000.00) ($7,255,800.00) ($24,244,200.00) ($6,800,000.00) ($955,500.00) (Realized Loss) / (Write-off) $525,308.00 $1,088,673.39 $3,570.00 $180.00 Gain5 $164,018.20 $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 $1.21 $28.61 $8.81 $49.06 Stock Price as of Warrant Sales 6/30/2016 330,561 267,455 Current Outstanding Warrants Continued on next page $467,412.50 $660,215.12 $132,253.00 $4,783,333.33 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 299 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 8/11/2011 1/16/2009 9/29/2010 RCB Financial Corporation, Rome, GA8,17 Randolph Bank & Trust Company, Asheboro, NC8 QCR Holdings, Inc., Moline, IL44 Pulaski Financial Corp, Creve Coeur, MO Puget Sound Bank, Bellevue, WA8,14,44 PSB Financial Corporation, Many, LA8,11,14 2/27/2009 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 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 $8,900,000.00 $6,229,000.00 $38,237,000.00 $32,538,000.00 $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 $9,139,863.61 $7,190,593.33 $44,286,567.33 $35,195,847.13 $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 Total Cash Back2 $8,073,279.00 $6,229,000.00 $38,237,000.00 $28,893,744.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($80,732.79) ($433,406.16) ($91,498.68) ($78,563.80) ($200,497.20) Auction Fee4 8,900 6,229 38,237 32,538 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 Number of Shares Disposed $907.11 $1,000.00 $1,000.00 $888.00 $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 Average Price of Shares Disposed ($826,721.00) ($3,644,256.00) ($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) (Realized Loss) / (Write-off) $19,047,005.12 $71.62 $1,507,379.58 Gain5 $253,383.25 $311,000.00 $1,100,000.00 $1,100,000.00 $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 $23.85 $16.15 $18.45 $6.67 $38.60 $13.50 $21.37 $15.76 Stock Price as of Warrant Sales 6/30/2016 178,880 Current Outstanding Warrants Continued on next page $893,934.15 $650,593.33 $4,949,567.33 $5,635,509.29 $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 Dividend/Interest Paid to Treasury 300 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 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 7/5/2013 Salisbury Bancorp, Inc., Lakeville, CT44 Saigon National Bank, Westminster, CA8 S&T Bancorp, Indiana, PA11 Royal Bancshares of Pennsylvania, Inc., Narberth, PA Rogers Bancshares, Inc., Little Rock, AR8,95,97 1/30/2009 5/14/2014 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 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 $8,816,000.00 $1,549,000.00 $108,676,000.00 $30,407,000.00 $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 $10,100,960.44 $0.00 $124,916,099.34 $36,696,518.83 $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 $8,816,000.00 $108,676,000.00 $21,407,000.00 $9,000,000.00 $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 ($367,045.94) ($89,663.40) ($401,960.00) ($11,125.00) $1,140,525.00 $246,975.00 $12,700,000.00 $2,655,000.00 $7,970,737.50 $2,995,000.00 $3,800,000.00 3/26/2013 $1,718,159.50 $14,594,338.99 $3,135,328.00 $8,755,019.00 $3,570,810.92 $4,510,626.39 ($13,875.00) $1,500,000.00 $12,700,000.00 $2,655,000.00 $9,982,000.00 $2,995,000.00 $3,800,000.00 Auction Fee4 1/11/2013 11/9/2012 11/8/2012 2/13/2009 Regional Bankshares, Inc., Hartsville, SC8,14 Regents Bancshares, Inc., Vancouver, WA8,17,62 10/23/2009 1/26/2012 7/21/2011 Regent Capital Corporation/Regent Bank, Nowata, OK8,14,44 Regent Bancorp, Inc., Davie, FL8,114 Redwood Financial Inc., Redwood Falls, MN8,14,44 Redwood Capital Bancorp, Eureka, CA8,14,44 2/27/2009 10/17/2014 3/6/2009 8/18/2011 1/9/2009 7/21/2011 1/16/2009 Total Cash Back2 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 8,816 108,676 21,407 9,000 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 Number of Shares Disposed $1,000.00 $1,000.00 $1,207.11 $1,207.11 $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 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) (Realized Loss) / (Write-off) $4,433,603.77 $1,863,990.00 $196,000.00 Gain5 $205,000.00 $527,361.00 $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 $31.79 $0.14 $25.76 $2.13 $34.32 $1.59 $7.85 $35.34 $11.15 Stock Price as of Warrant Sales 6/30/2016 1,368,041 Current Outstanding Warrants Continued on next page $1,079,960.44 $15,712,738.34 $358,971.00 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 301 Santa Lucia Bancorp, Atascadero, CA Santa Clara Valley Bank, N.A., Santa Paula, CA8,14 Sandy Spring Bancorp, Inc., Olney, MD11,44 $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 $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 ($615,300.00) ($25,000.00) 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 9/22/2011 2/20/2009 7/31/2013 9/29/2010 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 Security State Bancshares, Inc., Charleston, MO8,14,44 Security Federal Corporation, Aiken, SC11,36 12/19/2008 9/29/2010 Security Capital Corporation, Batesville, MS8,11,14,36,111 Security California Bancorp, Riverside, CA8,14,44 6/26/2009 9/15/2011 1/9/2009 7/14/2011 1/9/2009 $1,700,000.00 $25,000,000.00 $23,393,000.00 $10,750,000.00 $12,500,000.00 $18,000,000.00 $17,388,000.00 $6,815,000.00 $1,994,587.59 $25,358,333.33 $26,915,463.85 $14,543,635.13 $14,888,679.86 $19,650,000.00 $19,063,111.00 $8,152,698.33 $1,700,000.00 $25,000,000.00 $23,367,267.70 $10,750,000.00 $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 ($233,672.68) ($125,346.08) ($10,095.03) $6,888,017.86 $1,983,756.24 3/26/2013 $5,803,000.00 $2,152,000.00 1/11/2013 12/11/2012 12/10/2012 Security Business Bancorp, San Diego, CA8,14,44 Security Bancshares of Pulaski County, Inc., Waynesville, MO8,14 2/13/2009 9/1/2011 $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 Auction Fee4 ($14,904.97) Seacoast Commerce Bank, Chula Vista, CA8,14,44 Seacoast Banking Corporation of Florida, Stuart, FL 12/23/2008 5/30/2012 4/3/2012 12/19/2008 6/24/2009 5/20/2009 1/16/2009 8/11/2011 SCBT Financial Corporation, Columbia, SC11 SBT Bancorp, Inc., Simsbury, CT8,14,44 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 Total Cash Back2 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 1,700,000 25,000 23,393 10,750,000 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 Number of Shares Disposed $1.00 $1,000.00 $998.90 $1.17 $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 Average Price of Shares Disposed ($25,732.30) ($584,041.00) ($77,462.28) ($8,980,000.00) ($1,200,000.00) ($434,971.00) (Realized Loss) / (Write-off) $1,784,607.50 Gain5 $85,000.00 $25,000.00 $720,368.55 $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 $136.12 $11.98 $5.05 $20.50 $19.50 $16.25 $15.79 $7.79 $18.15 $27.83 Stock Price as of Warrant Sales 6/30/2016 172,970 556,976 Current Outstanding Warrants Continued on next page $209,587.59 $333,333.33 $3,781,868.83 $1,414,005.16 $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 Dividend/Interest Paid to Treasury 302 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 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, CA8,32,97,132 Somerset Hills Bancorp, Bernardsville, NJ11 Signature Bank, New York, NY11 Southern Illinois Bancorp, Inc., Carmi, IL8,14,44 1/23/2009 2/22/2013 4/24/2009 3/13/2009 1/6/2014 10/21/2013 3/27/2009 9/22/2011 3/13/2009 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 $18,215,000.00 $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 $11,000,000.00 $12,900,000.00 $347,000,000.00 $3,070,000.00 $8,653,000.00 $7,414,000.00 $120,000,000.00 Standard Bancshares, Inc., Hickory Hills, IL8,14,74 $60,000,000.00 $3,000,000.00 Spirit BankCorp, Inc., Bristow, OK8 St. Johns Bancshares, Inc., St. Louis, MO8 $30,000,000.00 Sovereign Bancshares, Inc., Dallas, TX8,14,44 Southwest Bancorp, Inc., Stillwater, OK11 SouthFirst Bancshares, Inc., Sylacauga, AL8 Southern Missouri Bancorp, Inc., Poplar Bluff, MO44 Southern Heritage Bancshares, Inc., Cleveland, TN8,14,45 9/8/2011 5/15/2009 7/25/2012 7/3/2012 2/27/2009 10/1/2012 Southern First Bancshares, Inc., Greenville, SC Southern Community Financial Corp., Winston-Salem, NC 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 $75,757,163.03 $1,412,658.00 $11,803,691.75 $21,632,668.61 $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 $497,164.00 $7,816,685.55 $132,967,606.41 Total Cash Back2 $60,000,000.00 $9,000,000.00 $18,215,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($90,000.00) ($25,000.00) ($234,574.44) ($117,042.99) ($25,000.00) Auction Fee4 12,903,226 30,000 18,215 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 Number of Shares Disposed $4.65 $300.00 $1,000.00 $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 Average Price of Shares Disposed ($21,000,000.00) ($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) (Realized Loss) / (Write-off) $3,000,000.00 Gain5 $631,941.75 $911,000.00 $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 $15.05 $3.30 $24.02 $24.41 $30.85 $6.45 $7.85 $10.15 Stock Price as of Warrant Sales 6/30/2016 Current Outstanding Warrants Continued on next page $12,757,163.03 $1,412,658.00 $2,261,750.00 $2,506,668.61 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 303 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 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 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 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 State Bank of Bartley, Bartley, NE15,17,44 State Bancorp, Inc./Valley National Bancorp, Jericho, NY11,61 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 $89,310,000.00 $8,500,000.00 $15,000,000.00 $10,973,000.00 $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 $92,513,970.83 $9,930,625.00 $24,929,429.70 $2,652,816.96 $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 Total Cash Back2 $89,310,000.00 $8,500,000.00 $15,000,000.00 $107,935.66 $1,796,209.03 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($25,000.00) ($1,434,659.25) Auction Fee4 89,310 8,500 15,000,000 622 10,351 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 Number of Shares Disposed $1,000.00 $1,000.00 $1.00 $173.53 $173.53 $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 Average Price of Shares Disposed ($514,064.34) ($8,554,790.97) ($188,227,260.00) (Realized Loss) / (Write-off) Gain5 $2,100,000.00 $315,000.00 $750,000.00 $8,358.99 $130,704.17 $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 $20.71 $13.25 $5.78 $15.86 $15.93 $24.63 $58.52 Stock Price as of Warrant Sales 6/30/2016 Current Outstanding Warrants Continued on next page $1,103,970.83 $1,115,625.00 $9,179,429.70 $634,609.11 $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 Dividend/Interest Paid to Treasury 304 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 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 Tennessee Commerce Bancorp, Inc., Franklin, TN63,97 12/19/2008 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 Texas National Bancorporation, Jacksonville, TX8,11,14 Texas Capital Bancshares, Inc., Dallas, TX11 Tennessee Valley Financial Holdings, Inc., Oak Ridge, TN8,14 TCNB Financial Corp., Dayton, OH8,11,14 8/3/2011 12/23/2008 12/21/2009 4/22/2009 11/14/2008 12/13/2013 TCF Financial Corporation, Wayzata, MN11 TCB Holding Company, Texas Community Bank, The Woodlands, TX8,97,100 1/16/2009 9/8/2011 $3,981,000.00 $75,000,000.00 $3,000,000.00 $30,000,000.00 $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 Surrey Bancorp, Mount Airy, NC8,11,14 Susquehanna Bancshares, Inc, Lititz, PA11 $2,000,000.00 Superior Bancorp Inc., Birmingham, AL24,49,97 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 $69,000,000.00 $1,350,000,000.00 3/30/2011 $3,500,000,000.00 12/31/2008 SunTrust Banks, Inc., Atlanta, GA11 11/14/2008 $4,475,307.67 $82,777,816.21 $3,331,713.17 $3,233,333.33 $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 Total Cash Back2 $3,981,000.00 $75,000,000.00 $2,702,000.00 $298,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($25,000.00) ($1,404,890.26) Auction Fee4 3,981 75,000 2,702 298 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 Number of Shares Disposed $1,000.00 $1,000.00 $1,022.11 $1,022.11 $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 Average Price of Shares Disposed ($30,000,000.00) ($11,730,000.00) ($11,163,649.50) ($8,000,000.00) ($69,000,000.00) (Realized Loss) / (Write-off) $59,741.22 $6,588.78 Gain5 $199,000.00 $6,559,066.21 $124,922.63 $19,218.87 $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 $38.38 $12.26 $28.91 $102.05 $33.27 $11.70 $36.08 Stock Price as of Warrant Sales 6/30/2016 2,215,820 Current Outstanding Warrants Continued on next page $295,307.67 $1,218,750.00 $146,241.67 $3,233,333.33 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 305 9/1/2011 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 9/27/2010 3/31/2010 6/26/2009 12/19/2012 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 The Hartford Financial Services Group, Inc. Hartford CT11 The Freeport State Bank, Harper, KS8,11,14 2/6/2009 4/14/2010 The First State Bank of Mobeetie, Mobeetie, TX8,11,14 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 The Bank of Kentucky Financial Corporation, Crestview Hills, KY11 The Bank of Currituck, Moyock, NC8 The Bancorp, Inc., Wilmington, DE12,16 The ANB Corporation, Terrell, TX8,14,44 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 8/25/2011 8/7/2009 $5,450,000.00 $7,579,200,000.00 $7,500,000.00 $15,000,000.00 $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 $4,021,000.00 $45,220,000.00 $20,000,000.00 $6,474,752.14 $8,320,638,950.83 $9,232,652.17 $17,580,291.55 $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 Total Cash Back2 $5,450,000.00 $7,579,200,000.00 $7,359,000.00 $15,000,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($73,590.00) ($135,345.73) Auction Fee4 5,450 75,792 7,500 15,000 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 Number of Shares Disposed $1,000.00 $100,000.00 $981.20 $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 $652.30 $652.30 $1,000.00 $1,000.00 $433.44 $1,000.00 $1,000.00 Average Price of Shares Disposed ($141,000.00) ($6,171,327.30) ($1,043,100.00) ($2,278,150.00) (Realized Loss) / (Write-off) Gain5 $273,000.00 $320,372,284.16 $371,250.00 $750,000.00 $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 $84.57 $19.51 $18.01 $26.89 $1.61 $33.27 $5.72 Stock Price as of Warrant Sales 6/30/2016 276,078 Current Outstanding Warrants Continued on next page $751,752.14 $421,066,666.67 $1,575,992.17 $1,830,291.55 $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 Dividend/Interest Paid to Treasury 306 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 $5,677,000.00 $1,505,000.00 $541,000.00 $12,000,000.00 $37,000,000.00 Three Shores Bancorporation, Inc. (Seaside National Bank & Trust), Orlando, FL8,21 The Victory Bancorp, Inc., Limerick, PA8,18,21,44 The Queensborough Company, Louisville, GA8,14 $14,448,000.00 TIB Financial Corp, Naples, FL Tidelands Bancshares, Inc, Mount Pleasant, SC $244,225.00 $12,119,637.37 $3,877,691.40 $1,165,528.32 $2,046,000.00 $11,478,575.00 $18,857,818.52 $223,208.00 9/26/2012 2/27/2009 8/13/2010 4/3/2009 9/11/2012 8/10/2012 8/9/2012 8/7/2012 3/27/2009 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 $2,117,000.00 TriState Capital Holdings, Inc., Pittsburgh, PA8,11 Tri-State Bank of Memphis, Memphis, TN8,9,11 Trinity Capital Corporation, Los Alamos, NM8,14 Tri-County Financial Corporation, Waldorf, MD8,14,44 Triad Bancorp, Inc., Frontenac, MO8,14,44 Treaty Oak Bancorp, Inc., Austin, TX8 $23,000,000.00 $2,795,000.00 $35,539,000.00 $15,540,000.00 $3,700,000.00 $3,268,000.00 $76,458,000.00 Todd Bancshares, Inc., Hopkinsville, KY8 TowneBank, Portsmouth, VA45 $4,000,000.00 Titonka Bancshares, Inc, Titonka, IA8,11,14 $28,642,402.33 $2,985,215.11 $34,644,476.74 $18,653,115.75 $4,386,324.64 $2,412,702.03 $88,577,166.67 $5,210,672.22 $2,569,490.36 $23,000,000.00 $2,795,000.00 $16,984,909.75 $7,038,845.50 $2,639,379.50 $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 $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 3/8/2013 1/9/2009 Total Cash Back2 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($266,631.35) ($143,528.63) ($50,432.20) ($117,228.00) Auction Fee4 23,000 2,795 22,639 9,382 3,518 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 Number of Shares Disposed $1,000.00 $1,000.00 $750.25 $750.25 $750.25 $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 Average Price of Shares Disposed ($5,654,090.25) ($2,343,154.50) ($878,620.50) ($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) (Realized Loss) / (Write-off) Gain5 $1,150,000.00 $191,948.33 $1,300,776.05 $163,062.90 $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 $19.19 $12.64 $30.85 Stock Price as of Warrant Sales 6/30/2016 3,098,341 571,821 Current Outstanding Warrants Continued on next page $4,492,402.33 $190,215.11 $6,592,186.06 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 307 United Bancorporation of Alabama, Inc., Atmore, AL11,36 United Bancorp, Inc., Tecumseh, MI 6/10/2013 4/9/2013 3/28/2013 3/27/2013 3/26/2013 12/5/2008 7/3/2012 United Community Banks, Inc., Blairsville, GA United Bank Corporation, Barnesville, GA11,14,15 5/22/2009 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 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 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 Trustmark Corporation, Jackson, MS11 $180,000,000.00 $14,400,000.00 $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 12/22/2009 TriSummit Bank, Kingsport, TN8,14,18 4/3/2009 $210,367,527.00 $18,882,079.62 $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 Total Cash Back2 $159,145,525.00 $12,587,575.00 $1,516,900.00 $14,400,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($1,732,500.00) ($255,079.50) ($25,000.00) ($52,515.00) Auction Fee4 165,346 13,078 1,576 14,400,000 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 Number of Shares Disposed $962.50 $962.50 $962.50 $1.00 $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 Average Price of Shares Disposed ($6,200,475.00) ($490,425.00) ($59,100.00) ($3,594,700.00) ($5,380,950.00) ($298,737,000.00) ($38,497,856.24) ($1,750,500.00) (Realized Loss) / (Write-off) Gain5 $6,677.00 $720,000.00 $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 $18.47 $9.07 $24.63 $15.86 $40.59 $23.50 $23.03 Stock Price as of Warrant Sales 6/30/2016 Current Outstanding Warrants Continued on next page $38,843,350.00 $3,762,079.62 $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 Dividend/Interest Paid to Treasury 308 APPENDIX C I TRANSACTION DETAIL I JULY 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 1/31/2014 12/11/2012 12/12/2008 1/6/2014 11/19/2013 5/1/2009 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 $300,000,000.00 $1,300,000.00 $3,000,000.00 Valley National Bancorp, Wayne, NJ11 Valley Financial Group, Ltd., 1st State Bank, Saginaw, MI8,14,44 $71,000,000.00 Village Bank and Trust Financial Corp, Midlothian, VA Virginia Commerce Bancorp, Arlington, VA11 $14,738,000.00 Veritex Holdings, Inc. (Fidelity Resources Company), Dallas, TX8,41,44 $118,453,138.89 $6,933,870.05 $3,503,795.81 $318,400,781.94 $1,489,774.73 $71,000,000.00 $5,672,361.44 $3,000,000.00 $100,000,000.00 $125,000,000.00 $75,000,000.00 $1,300,000.00 $9,619,000.00 $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 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 $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 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 Total Cash Back2 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($56,723.61) ($25,000.00) ($94,060.89) Auction Fee4 71,000 14,738 3,000 100,000 125,000 75,000 1,300 9,619 1,600 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 Number of Shares Disposed $1,000.00 $384.88 $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 Average Price of Shares Disposed ($9,065,638.56) ($3,203,200.00) ($481,438.50) ($12,472.50) (Realized Loss) / (Write-off) Gain5 $33,263,000.00 $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 $36.70 $18.91 $9.54 $12.00 $15.70 $4.36 $1.76 $11.37 $20.35 Stock Price as of Warrant Sales 6/30/2016 31,189 488,847 Current Outstanding Warrants Continued on next page $14,190,138.89 $1,318,232.22 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 309 VIST Financial Corp., Wyomissing, PA Vision Bank - Texas, Richardson, TX8,11,14 Virginia Company Bank, Newport News, VA8,17 Washington Banking Company, Oak Harbor, WA11,16 $23,592,311.11 $457,333,286.51 $4,831,002.80 $13,475,000.00 8/31/2011 6/29/2011 12/31/2008 12/23/2009 9/9/2009 12/5/2008 5/26/2010 12/23/2009 10/28/2008 West Bancorporation, Inc., West Des Moines, IA11 WesBanco, Inc., Wheeling, WV11 Wells Fargo & Co., Minneapolis, MN11 $25,000,000,000.00 $27,281,347,113.95 $36,000,000.00 $75,000,000.00 $41,195,000.00 $78,804,166.67 $36,000,000.00 $75,000,000.00 $25,000,000,000.00 $200,000,000.00 6/8/2011 $100,000,000.00 12/29/2010 $100,000,000.00 10/13/2010 3/3/2010 11/21/2008 3/26/2013 $92,690.00 $400,000,000.00 $6,398,893.44 $200,000,000.00 $26,380,000.00 $290,119.70 Webster Financial Corporation, Waterbury, CT11 $5,625,000.00 $15,317,317.86 $220,749,985.18 $30,628,344.45 2/8/2013 Waukesha Bankshares, Inc., Waukesha, WI8,17 $6,842,000.00 $6,633,000.00 $200,000,000.00 $26,380,000.00 $22,000,000.00 2/7/2013 2/6/2013 6/26/2009 8/4/2011 10/30/2009 1/30/2009 3/15/2010 5/27/2009 3/2/2011 WashingtonFirst Bankshares, Inc., Reston, VA8,18,21,44 Washington Federal, Inc., Seattle, WA11 11/14/2008 1/12/2011 1/16/2009 12/16/2009 11/24/2009 12/19/2008 $5,000,000.00 $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 $4,000,000.00 $22,000,000.00 $14,731,826.23 $131,236,874.33 $30,710,646.33 $1,898,258.59 $3,694,442.50 4/23/2014 Wainwright Bank & Trust Company, Boston, MA11 $12,000,000.00 $110,000,000.00 $25,000,000.00 $1,500,000.00 $4,700,000.00 1/30/2013 4/4/2012 12/11/2009 9/15/2011 Wachusett Financial Services, Inc., Clinton, MA8,11,17 W.T.B. Financial Corporation, Spokane, WA8,14,45 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 Total Cash Back2 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 ($52,138.13) ($25,000.00) Auction Fee4 36,000 75,000 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 Number of Shares Disposed $1,000.00 $1,000.00 $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 Average Price of Shares Disposed ($22,880.30) ($7,310.00) ($380,997.20) ($1,623,379.86) ($207,646.14) (Realized Loss) / (Write-off) Gain5 $700,000.00 $950,000.00 $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 $18.23 $29.71 $48.36 $35.90 $22.65 $17.57 $64.00 Stock Price as of Warrant Sales 6/30/2016 Current Outstanding Warrants Continued on next page $4,495,000.00 $4,242,500.00 $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 Dividend/Interest Paid to Treasury 310 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 $52,625,000.00 $2,720,000.00 $250,000,000.00 Total 12/5/2012 9/26/2012 3/28/2012 11/14/2008 7/14/2011 4/24/2009 6/11/2013 6/10/2013 9/18/2012 Zions Bancorporation, Salt Lake City, UT11 York Traditions Bank, York, PA8,14,45 $1,661,027,529.62 $5,705,022.14 $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 $204,894,726,320.00 $226,656,475,578.43 $1,400,000,000.00 $4,871,000.00 $13,312,000.00 7/24/2009 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 1/16/2009 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 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 Western Reserve Bancorp, Inc, Medina, OH8,11,78 $4,567,000.00 11/8/2012 $6,855,000.00 Western Illinois Bancshares Inc., Monmouth, IL8,14,18 $7,290,000.00 $140,000,000.00 $83,726,000.00 12/23/2008 Western Community Bancshares, Inc., Palm Desert, CA8,117 Western Alliance Bancorporation, Las Vegas, NV44 Westamerica Bancorporation, San Rafael, CA11 12/29/2009 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 Total Cash Back2 ($662,235.84) ($722,364.96) ($24,999.99) ($879,700.42) ($178,619.28) ($107,235.41) Auction Fee4 $199,574,679,284.37 ($38,027,858.19) $700,000,000.00 $700,000,000.00 $4,871,000.00 $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 Capital Repayment / Disposition / Auction3,5 Investment Amount Transactions Date Institution (CONTINUED) CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 700,000 700,000 4,871 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 Number of Shares Disposed $1,000.00 $1,000.00 $1,000.00 $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 Average Price of Shares Disposed $979,755.00 $82,173.00 Gain5 ($5,095,943,531.92) $6,906,966,060.44 ($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) $8,065,534,497.60 $7,666,418.51 $244,000.00 $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 $24.21 $23.67 $32.52 $44.34 $10.30 $8.43 $33.38 $48.71 Stock Price as of Warrant Sales 6/30/2016 91,178 128,663 95,383 246,698 Current Outstanding Warrants Continued on next page $253,361,111.11 $590,022.14 $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 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 311 (CONTINUED) 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 To 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. 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 In 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. 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 As of the date of this report, this institution is in bankruptcy proceedings. 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 On to holders of CVRs were not met. 24 On 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. 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 On 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. 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 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 On dividends. 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. 35 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. On Since 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 As stock 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. Notes: Numbers may not total due to rounding. Data as of 6/30/2016. Numeric notes were taken verbatim from Treasury’s 7/5/2016, Transactions Report. All amounts and totals reflect cumulative receipts from inception through 6/30/2016. Sources: Treasury, Transactions Report, 7/5/2016; Treasury, Dividends and Interest Report, 7/11/2016. *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. CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 312 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 44 (CONTINUED) Continued on next page 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, As Center 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 On and 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 On dividends 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 In accrued 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 On issued to 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 On of 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 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 On was 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 On Reorganization 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 On common 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. CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 313 (CONTINUED) Sources: Treasury, Transactions Report, 7/5/2016; Dividends and Interest Report, 7/11/2016; Treasury, response SIGTARP data call, 7/11/2016; Yahoo! Finance, finance.yahoo.com, accessed 7/1/2016. 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 O 7/16/2014. 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 O 24, 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 O the 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, O plus (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 O purchasers 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 A of 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. O The 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 O dividends 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 O to purchasers pursuant to securities purchase agreements, each dated as of 12/23/2015, with the purchaser parties thereto. 131 n 2/29/2016, Treasury entered into an agreement with HCSB (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 4/11/2016. O 132 onoma Valley Bancorp was liquidated and dissolved pursuant to the provision of the California Corporations Code. As part of that liquidation and dissolution, UST received a distribution of $150,000 from Sonoma Valley Bancorp on 6/15/2016. S 133 n 6/30/2016, Treasury completed the exchange of its Liberty Shares, Inc. preferred stock and warrant-preferred stock for common stock pursuant to an exchange agreement of the same date with Liberty Shares, Inc. As part of that transaction, Treasury immediately sold the resulting Liberty Shares, Inc. common O stock to purchasers pursuant to securities purchase agreements, each dated as of 6/30/2016, with the purchaser parties thereto. 134 On 6/28/2016, the United States completed a settlement of several lawsuits related to Treasury’s investment in One Financial Corporation (OFC). As a result of that settlement, it received 344,227 shares of OFC common stock on 6/23/2016. CPP TRANSACTIONS DETAIL, AS OF 6/30/2016 314 APPENDIX C I TRANSACTION DETAIL I JULY 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 8/13/2010 9/17/2010 9/29/2010 2a 1 CFBanc Corporation, Washington, DC 9/17/2010 1 Carver Bancorp, Inc, New York, NY 8/27/2010 1, 3 Community Bancshares of Mississippi, Inc., Brandon, MS Citizens Bancshares Corporation, Atlanta, GA Carter Federal Credit Union, Springhill, LA 9/29/2010 6 Buffalo Cooperative Federal Credit Union, Buffalo, NY 9/24/2010 Butte Federal Credit Union/Self-Help Federal Credit Union, Biggs, CA Brooklyn Cooperative Federal Credit Union, Brooklyn, NY 9/30/2010 9/24/2010 Brewery Credit Union, Milwaukee, WI 9/24/2010 BankAsiana, Palisades Park, NJ 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 Bronx Palisades Park Ridgeland Okolona Bainbridge Lander Oak Brook Ithaca City MS GA DC NY LA CA NY NY WI TX NY NJ MS MS GA WY IL NY State CDCI PROGRAM TRANSACTION DETAIL, AS OF 6/30/2016 TABLE C.3 Sources: Treasury, Transactions Report, 7/5/2016. 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 6/30/2016. Numbered notes taken verbatim from 7/5/2016, 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 6/30/2016 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 $0 10/1/20136 2/6/20136 12/31/20146 10/3/20126 10/15/2014 11/18/20156 $2,500,000 $1,000,000 $1,096,000 $3,260,000 $502,000 $5,250,000 $3,297,000 $1,000,000 1/7/20156 3/13/20136 $2,372,000 9/10/20146 $3,800,000 $0 $0 $0 $0 $0 $0 $0 $1,000,000 $2,500,000 Amount 9/26/20126 Date Disposition Details Remaining Investment Amount Continued on next page $6,145,533 $1,354,759 $654,538 $446,507 $545,350 $85,389 $16,361 $33,750 $44,388 $263,698 $51,567 $315,583 $9,107,320 $250,975 $273,637 $100,278 $957,673 $252,070 Dividend/Interest Paid to Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 315 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 8/20/2010 2a 1 Liberty Financial Services, Inc., New Orleans, LA Lower East Side People’s Federal Credit Union/Union Settlement Federal Credit Union, New York, NY 9/24/2010 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 9/3/2010 IBC Bancorp, Inc., Chicago, IL 9/10/2010 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 6/30/2016 $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 $319,093 $3,489 $276,583 $437,489 $27,073 - $17,264 $351,292 $122,798 $39,492 $36,581 $31,933 $1,176,634 $1,346,265 $134,545 $1,278,853 $42,287 $484,934 $557,312 $71,701 $684,000 $1,423,922 $511,764 $11,256 $2,513,583 $10,714 $33,967 $68,397 $501,527 $557,014 $1,751,667 $70,167 $1,348,113 $267,878 $1,972,976 $1,412 $2,933 $907,631 $11,256 $788 $171,310 $315,821 $50,650 $299,008 $436,676 Dividend/Interest Paid to Treasury 316 APPENDIX C I TRANSACTION DETAIL I JULY 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 9/29/2010 7/30/2010 9/24/2010 9/29/2010 9/24/2010 6 1, 2, 7 6 6 6 Virginia Community Capital, Inc., Christiansburg, VA Vigo County Federal Credit Union, Terre Haute, IN UNO Federal Credit Union, New Orleans, LA Christiansburg Terre Haute New Orleans St. Paul New York UNITEHERE Federal Credit Union, (Workers United Federal Credit Union), New York, NY University Financial Corp, Inc., St. Paul, MN Atmore United Bancorporation of Alabama, Inc., Atmore, AL New York Fort Wayne New Orleans Memphis Ketchikan Olympia Bay Springs Hattiesburg Greenwood San Antonio Lakewood Arkadelphia Shreveport Aiken Batesville City 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 $0 $1,915,000 6 $220,757 $124,375 $43,754 $1,595,843 $2,822 $1,174,200 $0 $1,128 $47,841 $209,936 $180,533 $8,463 $1,220,226 $1,927,289 $1,772,750 $67,894 $192,357 $3,903,900 $297,822 $2,476,222 $1,884,560 Dividend/Interest Paid to Treasury Sources: Treasury, Transactions Report, 7/5/2016; Treasury, Dividends and Interest Report, 7/11/2016. 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. $419,867,600 TOTAL TREASURY COMMUNITY DEVELOPMENT INITIATIVE (CDCI) INVESTMENT AMOUNT 6/29/2016 $491,600 $245,800 12/23/20156 $737,400 $491,600 2/25/20156 $0 $0 $0 $4,222,000 $743,000 $22,115,000 $57,000 $3,700,000 $0 $0 $5,660,000 $8,660,000 9/4/20136 11/28/20126 3/20/20136 12/17/20146 $1,100,000 $5,660,000 5/27/2016 10/30/20136 $3,000,000 9/9/2015 3/23/20165 $9,250,000 Date Disposition Details Remaining Investment Amount $143,501,300 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 $1,915,000 $570,073,000 $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 $0 $0 $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 Total Purchase Amount $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 6/30/2016. Numbered notes are taken verbatim from Treasury’s 7/5/2016, Transactions Report. 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 6 The First Bancshares, Inc., Hattiesburg, MS 9/29/2010 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 1,7 Security Capital Corporation, Batesville, MS 9/29/2010 Note Name of Institution Purchase Date Seller CDCI PROGRAM TRANSACTION DETAIL, AS OF 6/30/2016 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 317 $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 Exchange for convertible preferred stock 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 Exchange for preferred and common stock in New GM Exchange for preferred and common stock in New GM 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 12/30/2009 Type $360,624,198 $4,000,000,000 $2,000,000,000 $13,400,000,000 $884,024,131 7 7 7 7 3 $2,667,000,000 27 $5,500,000,000 26 $3,000,000,000 General Motors Holdings LLC General Motors Company General Motors Company GMAC (Ally) 11, 12 10, 11, 25 10, 11, 24 27 3, 26, GMAC (Ally) 32, 38 GMAC (Ally) 21, 22 Note Debt Obligation Common Stock Preferred Stock Trust Preferred Securities Common Stock Convertible Preferred Stock Description $7,072,488,605 60.8% $2,100,000,000 $2,667,000,000 63.5% $5,937,500,000 $3,023,750,000 $181,141,750 Partial 12/24/2014 Disposition45 $1,761,495,577 $5,500,000,000 $1,637,839,844 $1,031,700,000 $3,822,724,832 $2,563,441,956 $1,208,249,982 $360,624,198 $1,000,000,000 Partial Disposition25 Partial Disposition33 Partial Disposition34 Partial Disposition35 Partial Disposition36 Partial Disposition37 Partial Disposition39 Partial Repayment 11/26/2010 12/21/2012 4/11/2013 6/12/2013 9/13/2013 11/20/2013 12/9/2013 7/10/2009 Partial 12/18/2009 Repayment $35,084,421 $11,743,303,903 Partial Disposition25 $2,139,406,778 11/18/2010 12/15/2010 Repayment $2,667,000,000 $1,277,036,382 10/16/2014 Disposition28 $245,492,605 Partial Disposition44 9/12/2014 3/2/2011 $218,680,700 Partial Disposition43 5/14/2014 Partial Disposition41 4/15/2014 Partial Disposition42 $2,375,000,000 Partial Disposition40 $5,925,000,000 Partial Repayment Repayment 3/31/2010 4/20/2010 $4,676,779,986 $1,000,000,000 Partial Repayment 1/21/2010 $0 $0 0% 11% 14% 16% 17% 37% $0 Remaining Investment Amount/ Equity % Common Stock 0.00% 2.24% 7.32% 13.80% 17.69% N/A $0 Debt $4,676,779,986 Obligation Debt $5,676,779,986 Obligation Debt $5,711,864,407 Obligation Debt $6,711,864,407 Obligation Common Stock Common Stock Common Stock Common Stock Common Stock 21.97% 32.04% Common Stock Common Stock 36.9% N/A N/A Common Stock Common Stock Common Stock Common Stock Common Stock Common Stock N/A Remaining Amount/ Investment Proceeds Description 1/23/2014 11/20/2013 Disposition38 Type Payment or Disposition1 Amount/ Equity % Date Treasury Investment After Exchange/Transfer/Other Amount Note Obligor $5,000,000,000 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 6/30/2016 TABLE C.4 Continued on next page $756,714,508 $3,679,893,757 Dividend/Interest Paid to Treasurya 318 APPENDIX C I TRANSACTION DETAIL I JULY 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 Exchange for preferred and common stock in New GM 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 N/A Remaining Investment Amount/ Equity % 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 Right to recover proceeds Right to recover proceeds N/A Additional Note $0 $0 Debt Obligation $1,369,197,029 w/ Additional Note Debt Obligation $1,413,554,739 w/ Additional Note Debt Obligation $1,464,690,823 w/ Additional Note Debt Obligation $1,496,500,945 w/ Additional Note N/A Right to recover proceeds Remaining Amount/ Investment Proceeds Description 3/31/2011 Type Payment or Disposition1 Amount/ Equity % Date Treasury Investment After Exchange/Transfer/Other Amount Note Obligor 7/10/2009 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 6/30/2016 Continued on next page $7,405,894 Dividend/Interest Paid to Treasurya TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 319 $1,888,153,580 $0 Debt Obligation w/ Additional Note Debt Obligation w/ Additional Note Old Chrysler Old Chrysler $280,130,642 Debt Obligation w/ Additional Note Chrysler Holding $6,642,000,000 Purchase 5/20/2009 $81,344,932,551 Total Initial Investment Amount Purchase Purchase 5/1/2009 5/27/2009 Purchase 4/29/2009 $0 Debt Obligation w/ Additional Note Chrysler Holding Debt Obligation w/ Additional New Chrysler Note, Zero Coupon Note, Equity Purchase 4/29/2009 $4,000,000,000 Debt Obligation w/ Additional Note 18 6/10/2009 17 16 4/30/2010 15 14 6/10/2009 Amount Note Date Chrysler Holding Description Issuance of equity in New Chrysler Completion of bankruptcy proceeding; transfer of collateral security to liquidation trust Transfer of debt to New Chrysler Type $500,000,000 19 $0 23 20 30 Common equity Debt obligation w/ additional note & zero coupon note Right to recover proceeds Debt obligation w/ additional note Description 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. Chrysler Group LLC Chrysler 19, 31 Group LLC Old Carco Liquidation Trust Chrysler Holding 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 $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 Repayment* - Zero Coupon Note 5/24/2011 $11,753,165,656 Total Treasury Investment Amount $403,000,000 $0 $0 N/A N/A N/A N/A N/A $64,038,073,315 N/A 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/ Equity % Total Payments Additional Proceeds* $560,000,000 $100,000,000 Repayment* - Additional Note 5/24/2011 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 Proceeds from sale of collateral 9/9/2010 5/10/2010 7/10/2009 5/14/2010 Type Payment or Disposition1 Amount/ Equity % Date Treasury Investment After Exchange/Transfer/Other Amount Note Obligor ($1,888,153,580) 23 Exchange/Transfer/Other Details (CONTINUED) Notes: Numbers may not total due to rounding. Data as of 6/30/2016. Numbered notes were taken verbatim from Treasury’s 7/5/2016, Transactions Report. Chrysler, Auburn Hills, MI Purchase 1/2/2009 Date Transaction Type Seller Initial Investment AIFP TRANSACTION DETAIL, AS OF 6/30/2016 Continued on next page $1,171,263,942 Dividend/Interest Paid to Treasurya 320 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 (CONTINUED) Sources: Treasury, Transactions Report, 7/5/2016; Treasury, Dividends and Interest Report, 7/11/2016. 1 Payment amount does not include accrued and unpaid interest on a debt obligation, which must be paid at the time of principal repayment. 2 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. 3 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 the purpose of this table, income (dividends and interest) are presented in aggregate for each AIFP participant. For b According to Treasury, the GM warrant was “Exchanged out of bankruptcy exit.” c This table includes AWCP transactions. AIFP TRANSACTION DETAIL, AS OF 6/30/2016 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 321 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 N/A N/A Pricing Mechanism $101,074,947 $413,076,735 ($500,000,000) 7/8/20093 Adjusted Total ($1,000,000,000) Adjustment Amount 7/8/20093 Adjustment Date 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 $100,000,000 $50,000,000 Debt Obligation w/ Additional Note Additional Note $56,541,893 $140,000,000 Amount Debt Obligation w/ Additional Note Remaining Investment Description None 7 Total Repayments $413,076,735 $44,533,054 Additional Note Repayment5 Payment $123,076,735 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 $28.049 $34.646 $36.509 $38.823 1/18/2013 – 4/17/20133 5/6/2013 – 9/13/20134 9/26/2013 – 11/20/20135 11/21/2013 – 12/9/20136 Proceeds2 $1,208,249,982 $9,232,256,614 Total Proceeds: $2,563,441,956 $3,822,724,832 $1,637,839,844 31,122,206 70,214,460 110,336,510 58,392,078 Number of Shares Source: Treasury, Transactions Report, 7/5/2016. 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 On 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 authority occurred on December 9, 2013. Notes: Numbers may not total due to rounding. Data as of 6/30/2016. Numbered notes were taken verbatim from Treasury’s 7/5/2016, Transactions Report. Pricing Mechanism1 Date AIFP GENERAL MOTORS COMPANY COMMON STOCK DISPOSITION DETAIL, AS OF 6/30/2016 TABLE C.6 Sources: Treasury, Transactions Report, 7/5/2016; Treasury, Dividends and Interest Report, 7/11/2016. 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 6/30/2016. Numbered notes were taken verbatim from Treasury’s 7/5/2016, Transactions Report. Initial Total Date Note Seller ASSP TRANSACTION DETAIL, AS OF 6/30/2016 TABLE C.5 322 APPENDIX C I TRANSACTION DETAIL I JULY 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 Final Disposition $1,427,190,941 $1,236,804,513 $190,386,428 Final Disposition Proceeds $13.27 $42.36 Stock Price Outstanding Warrant Shares $1,435,555,556 $1,568,888,889 Dividends/ Interest Paid to Treasury Market and Warrant Data 1/16/2009 12/23/2009 1 3 Transaction Type Guarantee Termination Institution Name Citigroup Inc., New York, NY Citigroup Inc., New York, NY $5,000,000,000 Termination ($5,000,000,000) Agreement Master Agreement Preferred Stock w/ Warrants Description Guarantee Limit Description Premium $4,034,000,000 Amount Amount 9/29/20104 2/4/20137 Exchange Trust preferred Subordinated securities for Note subordinated note Trust Preferred Securities Exchange Trust trust preferred Preferred securities for Securities w/ trust preferred Warrants securities Trust preferred securities received from the FDIC Exchange preferred Trust stock Preferred for trust Securities w/ preferred Warrants securities 6/9/20092 12/28/20126 $4,034,000,000 Type Description Date Exchange/Transfer/Other Details Disposition Warrant Auction Disposition Partial cancellation for early termination of guarantee Payment Type $894,000,000.00 $67,197,045 $2,246,000,000 ($1,800,000,000) Payment Amount Total Proceeds $3,207,197,045 2/8/20138 1/25/2011 9/30/20105 12/23/20093 Date None None Warrants $-— $-— $-— $42.39 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, 7/5/2016; Treasury, Dividends and Interest Report, 7/11/2016; Yahoo! Finance, finance.yahoo.com, accessed 7/1/2016. 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 Notes: Numbers may not total due to rounding. Data as of 6/30/2016. Numbered notes were taken verbatim from Treasury’s 7/5/2016, Transactions Report. Date Note Seller Initial Investment AGP TRANSACTION DETAIL, AS OF 6/30/2016 TABLE C.8 Sources: Treasury, Transactions Report, 7/5/2016; Treasury, Dividends and Interest Report, 7/11/2016; Yahoo! Finance, finance.yahoo.com, accessed 7/1/2016. 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 6/30/2016. Numbered notes were taken verbatim from Treasury’s 7/5/2016, Transactions Report. 1 12/31/2008 Date Note Institution Name Seller TIP TRANSACTION DETAIL, AS OF 6/30/2016 TABLE C.7 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 323 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, 7/5/2016; Treasury, Dividends and Interest Report, 7/11/2016. 3 2 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. On 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 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. 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 6/30/2016. Numbered notes were taken verbatim from Treasury’s 7/5/2016, Transactions Report, and Treasury’s 7/11/2016, Dividends and Interest Report. Date Note Seller TALF TRANSACTION DETAIL, AS OF 6/30/2016 TABLE C.9 324 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 4/17/2009 Date 1/14/2011 1/14/2011 1/14/2011 2, 3 Note 4 5 6 Transaction Type Warrants (Series F) 3/1/2013 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 D) 3/1/2013 $4,999,999,993 $750,000,002 $17,999,999,973 $2,699,999,965 $7,610,497,570 Partial Disposition Partial Disposition Partial Disposition Final Disposition 8/3/2012 8/6/2012 9/10/2012 9/11/2012 12/14/2012 $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 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 6/30/2016 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 $52.89 $52.89 Stock Price $641,275,676 $—- Dividends/ Interest Paid to Treasury Continued on next page 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 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 325 (CONTINUED) Floating Rate SBA 7a security due 2020 5/11/2010 Floating Rate SBA 7a security due 2025 7/14/2010 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 9/14/2010 Floating Rate SBA 7a security due 2020 Floating Rate SBA 7a security due 2024 8/31/2010 8/31/2010 Floating Rate SBA 7a security due 2019 Floating Rate SBA 7a security due 2020 8/17/2010 8/17/2010 Floating Rate SBA 7a security due 2034 Floating Rate SBA 7a security due 2020 7/29/2010 8/17/2010 Floating Rate SBA 7a security due 2034 Floating Rate SBA 7a security due 2020 7/14/2010 Floating Rate SBA 7a security due 2017 Floating Rate SBA 7a security due 2034 6/17/2010 7/14/2010 Floating Rate SBA 7a security due 2020 6/17/2010 7/29/2010 Floating Rate SBA 7a security due 2029 Floating Rate SBA 7a security due 2033 5/25/2010 5/25/2010 Floating Rate SBA 7a security due 2035 Floating Rate SBA 7a security due 2016 4/8/2010 Floating Rate SBA 7a security due 2033 Floating Rate SBA 7a security due 2034 4/8/2010 5/11/2010 Floating Rate SBA 7a security due 2022 3/19/2010 5/11/2010 Floating Rate SBA 7a security due 2025 Floating Rate SBA 7a security due 2022 3/19/2010 3/19/2010 Investment Description Purchase Date Purchase Details1 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 Coastal Securities Coastal Securities Coastal Securities Institution Name 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 6/30/2016 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 $8,716,265 $8,279,156 $4,377,249 Investment Amount2,3 $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 Sources: Treasury, Transactions Report, 7/5/2016; Treasury, Dividends and Interest Report, 7/11/2016; Yahoo! Finance, finance.yahoo.com, accessed 7/1/2016. 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. 14 On 9/14/2012, Treasury completed the sale of 636,923,075 shares of common stock at $32.50 per share On for total proceeds of $20,699,999,938, pursuant to an underwriting agreement executed on 9/10/2012. 14/ On 9/10/2012, Treasury executed an underwriting agreement to sell 553,846,153 shares of common stock at $32.50 per share for an aggregate amount equal to $17,999,999,973. On 9/11/2012, the underwriters exercised their option to purchase an additional 83,076,922 shares of common stock from Treasury at the same purchase price resulting in additional proceeds of $2,699,999,965. Treasury’s aggregate proceeds from the sale of common stock pursuant to the underwriting agreement equals $20,699,999,938. 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 6/30/2016. Numbered notes were taken verbatim from the Treasury’s 7/5/2016, Transactions Report, and Treasury’s 7/11/2016, Dividends and Interest Report. AIFP TRANSACTION DETAIL, AS OF 6/30/2016 326 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Floating Rate SBA 7a security due 2035 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, 7/5/2016; Treasury, Dividends and Interest Report, 7/11/2016. 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 6/30/2016. Numbered notes were taken verbatim from Treasury’s 7/5/2016, Transactions Report. Floating Rate SBA 7a security due 2034 Floating Rate SBA 7a security due 2034 9/28/2010 9/28/2010 Investment Description Purchase Date Purchase Details1 UCSB TRANSACTION DETAIL, AS OF 6/30/2016 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 327 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 Membership Interest Membership Interest Debt Obligation w/ Contingent Proceeds Transaction Investment State Type Description Note Date Seller $1,111,111,111 $1,111,111,111 $2,222,222,222 Commitment Amount PPIP TRANSACTION DETAIL, AS OF 6/30/2016 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 $856,000,000 $156,250,000 $200,000,000 Amount Final Commitment Amount7 Amount Date Preliminary Adjusted Commitment3 $34,000,000 Repayment Amount $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 Date Final Investment Amount9 Capital Repayment Details 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 Continued on next page $64,444 $69,399 $18,772 $1,056,751 $56,390,209 $48,922 $20,091,872 $1,223 $342,176 $502,302 Interest/ Distributions Paid to Proceeds Treasury 328 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Invesco Legacy Securities Master Wilmington Fund, L.P. 2,6,8 9/30/2009 City Institution Note Date Seller DE Purchase Debt Obligation w/ Contingent Proceeds Transaction Investment State Type Description $2,222,222,222 Date Repayment Amount $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 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 $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 $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 Repayment Amount Date Final Investment Amount9 Capital Repayment Details Debt Obligation w/ $4,888,718 $1,157,031,282 Contingent Proceeds Amount Final Commitment Amount7 Amount Date Preliminary Adjusted Commitment3 Par 3/22/2010 Pricing Mechanism (CONTINUED) Commitment Amount PPIP TRANSACTION DETAIL, AS OF 6/30/2016 Continued on next page Interest/ Distributions Paid to Proceeds Treasury TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 329 City Wilmington Wilmington Institution Wellington Management Legacy Securities PPIF Master Fund, LP Wellington Management Legacy Securities PPIF Master Fund, LP Note Date 10/1/2009 10/1/2009 2,6 1,6 Seller DE Purchase DE Purchase Membership Interest Debt Obligation w/ Contingent Proceeds Transaction Investment State Type Description $1,111,111,111 $2,222,222,222 Date Par 3/22/2010 $9,610,173 $284,468,750 2/14/2012 3/14/2012 $— Contingent Proceeds Debt Obligation w/ $284,468,750 Contingent Proceeds $341,479,690 1/24/2013 $— $341,479,690 $438,974,000 $152,499,238 $254,581,112 $436,447,818 $243,459,145 9/17/2012 1/15/2013 2/13/2013 3/13/2013 $— $243,459,145 $679,906,963 $934,488,075 $62,499,688 $1,086,987,313 $97,494,310 1/15/2013 $1,262,037,500 7/16/2010 $1,149,487,000 $1,149,487,000 7/16/2012 $630,000,000 12/21/2012 $800,000,000 $1,068,974,000 12/6/2012 $16,195,771 $1,611 $1,735 7/11/2013 Distribution5,11 $229,105,784 Continued on next page $2,802,754 $479,509,240 $69,932 4/17/2013 Distribution5,11 7/8/2013 5 Membership 3/13/2013 Distribution Interest10 7/11/2013 Distribution5,11 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 $305,000,000 $1,868,974,000 9/17/2012 Distribution5,14 6/4/2013 $469 Adjusted Distribution5,13 $40,556 Final 9/28/2012 Distribution5 $3,434,460 Interest/ Distributions Paid to Proceeds Treasury Distribution5 8/9/2012 3/29/2012 Distribution5 Description Distribution or Disposition Amount Description Date Investment After Capital Repayment $2,524,075,000 7/16/2010 $2,298,974,000 $2,298,974,000 6/26/2012 Repayment Amount Repayment Amount Date Final Investment Amount9 Capital Repayment Details Debt Obligation w/ $125,000,000 $2,173,974,000 Contingent Proceeds Amount Final Commitment Amount7 Amount Date Preliminary Adjusted Commitment3 Par 3/22/2010 Pricing Mechanism (CONTINUED) Commitment Amount PPIP TRANSACTION DETAIL, AS OF 6/30/2016 330 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 DE Purchase DE Purchase AllianceBernstein Legacy Wilmington Securities Master Fund, L.P. AllianceBernstein Legacy Wilmington Securities Master Fund, L.P. 10/2/2009 10/2/2009 2,6, 12 1,6 City Institution Membership Interest Debt Obligation w/ Contingent Proceeds Transaction Investment State Type Description Note Date Seller $1,111,111,111 $2,222,222,222 Date Par 3/22/2010 Repayment Amount $361,248,194 8/14/2012 $39,999,800 $1,009,550,894 5/14/2012 $68,749,656 $7,118,388 $1,049,550,694 4/14/2011 7/16/2012 $6,716,327 $1,056,669,083 3/14/2011 $292,454,480 $653,702,674 $722,452,330 $712,284 $1,063,385,410 2/14/2011 $287,098,565 Debt Obligation w/ Contingent Proceeds Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Contingent $— Proceeds $583,467,339 $44,043 $1,064,097,694 6/14/2012 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/ $855,967,339 Contingent Proceeds $1,244,437,500 7/16/2010 $1,150,423,500 $1,064,141,738 1/15/2010 $583,467,339 $17,500,000 $1,305,967,339 7/16/2012 8/22/2012 $120,000,000 $1,323,467,339 6/25/2012 $272,500,000 $44,200,000 $1,443,467,339 6/14/2012 8/14/2012 $500,000,000 $1,487,667,339 5/23/2012 $450,000,000 $30,000,000 $1,987,667,339 5/14/2012 7/27/2012 $80,000,000 $2,017,667,339 5/3/2012 Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds $88,087 $2,097,667,339 6/14/2011 $12,012,957 Distribution Refund Continued on next page -$460 $16,967 8/13/2013 12/21/2012 Distribution5,11 $252,376,156 Interest/ Distributions Paid to Proceeds Treasury 10/3/2012 Distribution5,11 Description Distribution or Disposition Amount Description Date Investment After Capital Repayment $2,488,875,000 7/16/2010 $2,300,847,000 $2,128,000,000 5/16/2011 Repayment Amount Date Final Investment Amount9 Capital Repayment Details Debt Obligation w/ $30,244,575 $2,097,755,425 Contingent Proceeds Amount Final Commitment Amount7 Amount Date Preliminary Adjusted Commitment3 Par 3/22/2010 Pricing Mechanism (CONTINUED) Commitment Amount PPIP TRANSACTION DETAIL, AS OF 6/30/2016 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 331 City Wilmington Wilmington Institution Blackrock PPIF, L.P. Blackrock PPIF, L.P. Note Date 10/2/2009 10/2/2009 2,6 1,6 Seller DE Purchase DE Purchase Membership Interest Debt Obligation w/ Contingent Proceeds Transaction Investment State Type Description $1,111,111,111 $2,222,222,222 Date Par 3/22/2010 $292,454,480 8/30/2012 $175,000,000 Repayment Amount Repayment Amount Date Final Investment Amount9 Capital Repayment Details $25,334,218 $794,459,374 9/28/2012 10/15/2012 10/18/2012 $90,269,076 $35,000,000 9/17/2012 $8,833,632 $10,055,653 $419,026,439 $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 Final Commitment Amount7 Amount Date Preliminary Adjusted Commitment3 Par 3/22/2010 Pricing Mechanism (CONTINUED) Commitment Amount PPIP TRANSACTION DETAIL, AS OF 6/30/2016 9/17/2012 10/15/2012 11/5/2012 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 $— $419,026,439 $429,082,092 $437,915,724 $— $1,433,088 $8,289,431 12/6/2013 Distribution5,11 $72,443,278 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 Debt Obligation w/ $794,459,374 Contingent Proceeds $819,793,592 $854,793,592 $856,460,945 $872,460,945 $878,000,000 $678,683 -$18,405 $25,909,972 12/21/2012 Distribution5,11 Distribution Refund $79,071,633 $106,300,357 9/19/2012 Distribution5,11 Membership $— 10/1/2012 Distribution5,11 Interest10 8/13/2013 $75,278,664 9/12/2012 Distribution5,11 Interest/ Distributions Paid to Proceeds Treasury 8/30/2012 Distribution5,11 Description Distribution or Disposition Amount Description Date Investment After Capital Repayment 332 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 1,6 DE Purchase AG GECC PPIF 10/30/2009 Master Fund, Wilmington DE Purchase L.P. Wilmington City AG GECC PPIF 10/30/2009 Master Fund, L.P. Institution Membership Interest Debt Obligation w/ Contingent Proceeds Transaction Investment State Type Description 2,6 Note Date Seller $1,111,111,111 $2,222,222,222 Date Par 3/22/2010 Repayment Amount $182,823,491 $201,075,230 1/15/2013 2/14/2013 $— $201,075,230 $383,898,721 $531,433,016 $99,462,003 $74,999,625 $18,749,906 $68,399,658 $124,999,375 $240,673,797 $45,764,825 3/14/2012 5/14/2012 7/16/2012 8/14/2012 9/17/2012 10/15/2012 11/15/2012 $357,250,417 $403,015,242 $643,689,039 $768,688,414 $837,088,072 $855,837,978 $930,837,603 $87,099,565 $1,030,299,606 $147,534,295 12/14/2012 $1,271,337,500 7/16/2010 $1,243,275,000 $1,117,399,170 2/14/2012 $274,590,324 11/15/2012 $250,000,000 $1,287,373,340 9/17/2012 $806,023,340 $136,800,000 $1,537,373,340 8/14/2012 $481,350,000 $37,500,000 $1,674,173,340 7/16/2012 10/15/2012 $150,000,000 $1,711,673,340 5/14/2012 Membership Interest10 Membership Interest10 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 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 $198,925,000 $1,861,673,340 3/14/2012 $17,118,005 $1,230,643 $1,052,497 Continued on next page Final Distribution5,11 9/30/2014 $41,556 5/29/2013 Distribution5,11 4/25/2013 Distribution5,11 $283,096,130 Interest/ Distributions Paid to Proceeds Treasury 4/19/2013 Distribution5,11 Description Distribution or Disposition Amount Description Date Investment After Capital Repayment $2,542,675,000 7/16/2010 $2,486,550,000 $2,234,798,340 2/14/2012 Repayment Amount Date Final Investment Amount9 Capital Repayment Details Debt Obligation w/ $174,200,000 $2,060,598,340 Contingent Proceeds Amount Final Commitment Amount7 Amount Date Preliminary Adjusted Commitment3 Par 3/22/2010 Pricing Mechanism (CONTINUED) Commitment Amount PPIP TRANSACTION DETAIL, AS OF 6/30/2016 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 333 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 Seller DE Purchase DE Purchase Membership Interest Debt Obligation w/ Contingent Proceeds Transaction Investment State Type Description $1,111,111,111 $2,222,222,222 Date Par 3/22/2010 $24,588,926 $30,470,429 $295,328,636 $6,862,425 12/14/2012 1/15/2013 2/14/2013 2/21/2013 $1,244,437,500 7/16/2010 $620,578,258 $— $6,862,425 $302,191,061 $332,661,491 $11,008,652 $160,493,230 $103,706,836 $20,637,410 $161,866,170 8/14/2012 8/23/2012 8/29/2012 9/17/2012 9/21/2012 $1,202,957 $151,006,173 8/9/2012 $3,521,835 $104,959,251 $72,640,245 $180,999,095 $620,578,258 3/14/2011 $618,750,000 7/31/2012 4/14/2011 8/14/2012 9/17/2012 9/28/2012 $49,225,244 $1,748,833 Final Distribution5,11 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 $257,254,875 $438,253,970 $510,894,215 $615,853,465 $619,375,301 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Contingent $— Proceeds $161,866,170 $182,503,579 $286,210,415 $446,703,645 $457,712,297 $608,718,470 $42,099,442 5/29/2013 Distribution5,11 Debt Obligation w/ Contingent Proceeds $105,620,441 Membership 4/19/2013 Distribution5,11 Interest10 4/25/2013 Distribution5,11 $6,789,287 $1,884 $1,544 1/28/2015 Distribution5,15 $161,505,775 Continued on next page $13,750 12/11/2013 Final Distribution5,11 11/2/2012 Distribution5,11 12/21/2012 Distribution5,11 $3,718,769 10/19/2012 Distribution5,11 9/30/2014 $20,999,895 $156,174,219 3/14/2013 Distribution5,11 $184,431,858 2/21/2013 Distribution5,11 Interest/ Distributions Paid to Proceeds Treasury 2/27/2013 Distribution5,11 Membership Interest10 Membership Interest10 Membership Interest10 Description Distribution or Disposition Amount Description Date Investment After Capital Repayment $13,531,530 $1,227,468,470 Repayment Amount Repayment Amount Date Final Investment Amount9 Capital Repayment Details $2,488,875,000 7/16/2010 $1,241,156,516 $1,241,000,000 5/13/2011 Amount Final Commitment Amount7 Amount Date Preliminary Adjusted Commitment3 Par 3/22/2010 Pricing Mechanism (CONTINUED) Commitment Amount PPIP TRANSACTION DETAIL, AS OF 6/30/2016 334 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 DE Purchase DE Purchase Marathon Legacy Securities 11/25/2009 Public-Private Wilmington Investment Partnership, L.P. 1,6 City Marathon Legacy Securities 11/25/2009 Public-Private Wilmington Investment Partnership, L.P. Institution Membership Interest Debt Obligation w/ Contingent Proceeds Transaction Investment State Type Description 2,6 Note Date Seller $1,111,111,111 $2,222,222,222 Date Par 3/22/2010 $1,244,437,500 7/16/2010 $2,488,875,000 7/16/2010 $474,550,000 $949,100,000 Amount Final Commitment Amount7 Amount Date Preliminary Adjusted Commitment3 Par 3/22/2010 Pricing Mechanism (CONTINUED) Commitment Amount PPIP TRANSACTION DETAIL, AS OF 6/30/2016 $122,255,550 10/19/2012 $149,000,000 $134,999,325 10/15/2012 $47,755,767 $62,456,214 $375,212,503 11/20/2012 12/14/2012 1/15/2013 1/24/2013 $74,499,628 $195,000,000 11/15/2012 $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 $949,000,000 9/17/2012 Repayment Amount Repayment Amount Date Final Investment Amount9 Capital Repayment Details 11/15/2012 12/14/2012 1/15/2013 1/30/2013 2/25/2013 3/25/2013 Membership Interest10 $7,143,340 5,15 $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 1/28/2015 $61,767 $75,372 Final Distribution5,11 Distribution $549,997 12/21/2012 Distribution5,11 12/11/2013 $148,749,256 11/2/2012 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 $77,496,170 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 Debt Obligation w/ Contingent Proceeds $147,464,888 10/19/2012 Distribution5,11 Interest/ Distributions Paid to Proceeds Treasury 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 $800,000,000 Membership $— Interest10 $122,255,550 Description Distribution or Disposition Amount Description Date Investment After Capital Repayment TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 335 City Wilmington Wilmington Institution Oaktree PPIP Fund, L.P. Note Date 12/18/2009 Oaktree PPIP 12/18/2009 Fund, L.P. 2,6 1,6 Seller DE Purchase DE Purchase Membership Interest Debt Obligation w/ Contingent Proceeds Transaction Investment State Type Description $1,111,111,111 $2,222,222,222 Date Par 3/22/2010 Repayment Amount $111,080,608 $89,099,906 $109,610,516 $311,134,469 12/14/2012 1/15/2013 4/12/2013 5/14/2013 $39,499,803 $223,080,187 11/15/2012 $39,387,753 $22,111,961 $32,496,972 $111,539,536 $55,540,026 $14,849,910 $18,268,328 $70,605,973 $119,769,362 $555,904,633 7/15/2011 $64,994,269 10/15/2012 $1,244,437,500 7/16/2010 $1,160,784,100 $44,224,144 9/17/2012 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 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 $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 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership Interest10 Membership $516,404,830 Interest10 $— $311,134,469 $420,744,985 $509,844,892 $620,925,500 $844,005,687 $908,999,956 Debt Obligation w/ Contingent Proceeds Debt Obligation w/ Contingent Proceeds $953,224,099 $78,775,901 3/14/2012 $1,375,007 $700,004 $293,751 6/14/2013 Distribution5,11 6/24/2013 Distribution5,11 6/26/2013 Distribution5,11 $13,475 Final Distribution5,11 12/12/2013 Continued on next page $1,024,380 Distribution5,11 7/9/2013 6/3/2013 $1,960,289 $444,393 $66,648,417 Interest/ Distributions Paid to Proceeds Treasury Distribution5,11 5/28/2013 Distribution5,11 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 Repayment Amount Date Final Investment Amount9 Capital Repayment Details Debt Obligation w/ $79,000,000 $1,032,000,000 Contingent Proceeds Amount Final Commitment Amount7 Amount Date Preliminary Adjusted Commitment3 Par 3/22/2010 Pricing Mechanism (CONTINUED) Commitment Amount PPIP TRANSACTION DETAIL, AS OF 6/30/2016 336 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Institution Initial Investment Amount City Commitment Amount $30,000,000,000 Transaction Investment State Type Description Pricing Mechanism (CONTINUED) $31,835,008 6/3/2013 Total Capital Repayment $18,625,147,938 Repayment Amount Repayment Amount Date Final Investment Amount9 Capital Repayment Details $— $27,999,860 $539,009 Final 12/12/2013 Distribution5,11 Total $2,645,169,622 Proceeds5 $40,974,795 Distribution5,11 7/9/2013 $11,749,941 $54,999,725 6/24/2013 Distribution5,11 Membership 6/26/2013 Distribution5,11 Interest10 $46,575,750 Distribution5,11 Interest/ Distributions Paid to Proceeds Treasury 6/14/2013 Distribution5,11 6/3/2013 Description Distribution or Disposition Amount Description Date Investment After Capital Repayment Sources: Treasury, Transactions Report, 7/5/2016; Treasury, Dividends and Interest Report, 7/11/2016. 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 made On, 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 $21,856,403,574 Amount Final Commitment Amount7 Amount Date Final Commitment Amount Date Preliminary Adjusted Commitment3 Notes: Numbers may not total due to rounding. Data as of 6/30/2016. Numbered notes were taken verbatim from Treasury’s 7/5/2016, Transactions Report. Note Date Seller PPIP TRANSACTION DETAIL, AS OF 6/30/2016 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 337 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 6/30/2016 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 $130,000 ($2,146) 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 9/16/2014 9/29/2014 $50,000 ($1) 3/14/2013 3/25/2013 ($11,842) $3,230,000 ($783,708) ($410,835) 3/28/2016 5/16/2016 5/31/2016 6/27/2016 3/23/2011 ($145,056) $45,056 ($496,519) 2/25/2016 9/30/2010 ($60,789) 4/28/2015 12/28/2015 ($66,521) 4/16/2015 $41,868 $50,000 3/26/2015 $312,942 $81,081 1/15/2015 9/28/2015 $40,000 12/29/2014 6/25/2015 $3,463,801 11/14/2014 $130,000 Adjustment Date $0 $145,056 $16,137,892 $16,548,727 $17,332,435 $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 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 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 $2,477,302 Borrower’s Incentives $0 $3,759,647 Lenders/ Investors Incentives $0 $705,486 Servicers Incentives TARP Incentive Payments Continued on next page $0 $6,942,435 Total TARP Incentive Payments 338 APPENDIX C I TRANSACTION DETAIL I JULY 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 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 6/30/2016 CAP Adjustment Amount ($3,800,000) ($165,135) ($400,000) ($164,461) ($616,326) $10,000 ($13,035) $40,840,000 ($8,732,825) ($5,217,732) 9/28/2015 10/15/2015 12/28/2015 2/25/2016 3/16/2016 3/28/2016 5/16/2016 5/31/2016 6/27/2016 ($3,238) 3/26/2015 8/14/2015 $110,000 2/13/2015 ($34,544) $70,000 1/15/2015 ($29,284) $1,832,887 12/29/2014 4/28/2015 ($1,152) 9/29/2014 6/25/2015 ($742) $7,600,000 8/14/2014 5/31/2016 6/27/2016 ($159) ($1,242) 3/28/2016 ($7,597) 2/25/2016 $116,295 ($3,595) ($2,660) ($2,691) 9/28/2015 ($11,347) 4/28/2015 6/25/2015 12/28/2015 $119,890 ($2,879) $31,285,155 $36,502,887 $45,235,712 $4,395,712 $4,408,747 $4,398,747 $5,015,073 $5,179,534 $5,579,534 $5,744,669 $9,544,669 $9,573,953 $9,608,497 $9,611,735 $9,501,735 $9,431,735 $7,598,848 $7,600,000 $103,895 $104,637 $105,879 $106,038 $113,635 $122,581 $133,928 $136,807 3/26/2015 $144,461 ($63) ($7,654) 9/29/2014 12/29/2014 $144,524 ($191) 7/29/2014 $144,715 ($96) $144,811 $144,819 $145,051 $145,052 $145,054 $145,055 $145,056 $100,000 $510,000 $230,000 $310,000 Adjusted CAP 6/26/2014 ($8) ($1) ($232) 3/25/2013 12/23/2013 3/26/2014 ($1) ($2) ($1) 6/29/2011 6/28/2012 $45,056 9/30/2010 9/27/2012 $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 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 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 Updated due to quarterly assessment and reallocation 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 $647,978 $18,449 Borrower’s Incentives $1,707,958 $12,610 Lenders/ Investors Incentives $206,683 $8,036 Servicers Incentives TARP Incentive Payments Continued on next page $2,562,619 $39,094 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 339 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 6/30/2016 CAP Adjustment Amount $60,000 ($742) 6/27/2016 2/2/2011 9/30/2010 ($145,056) $45,056 ($870,319) 1/6/2011 1/25/2012 ($1) 9/30/2010 ($1) $70,334 7/14/2010 ($13) ($570,000) 3/26/2010 3/30/2011 ($290,000) 1/22/2010 6/29/2011 $70,000 7/16/2014 ($159) ($1,242) 5/31/2016 2/25/2016 3/28/2016 ($2,660) ($7,597) 12/28/2015 ($2,691) ($3,595) 6/25/2015 9/28/2015 ($2,879) ($11,347) ($7,654) 12/29/2014 3/26/2015 ($63) 9/29/2014 4/28/2015 ($96) ($191) ($8) 3/26/2014 7/29/2014 ($232) 12/23/2013 6/26/2014 ($2) 6/28/2012 ($1) ($1) 6/29/2011 9/27/2012 ($1) 9/30/2010 3/25/2013 $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 $103,895 $104,637 $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 Updated due to quarterly assessment and reallocation 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 340 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Purchase Purchase Name of Institution American Financial Resources Inc., Parsippany, NJ Apex Bank (Bank of Camden), Knoxville, TN Date 9/30/2010 4/16/2015 Transaction Type $100,000 $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 6/30/2016 CAP Adjustment Amount ($8) ($96) ($191) 3/26/2014 6/26/2014 7/29/2014 ($63) ($232) 12/23/2013 $20,000 ($742) 6/27/2016 4/16/2015 ($159) ($1,242) 5/31/2016 ($7,597) 2/25/2016 3/28/2016 ($3,595) ($2,691) 4/28/2015 6/25/2015 ($2,660) ($11,347) 3/26/2015 9/28/2015 ($2,879) 12/29/2014 12/28/2015 ($7,654) 9/29/2014 ($2) 6/28/2012 ($1) ($1) 6/29/2011 9/27/2012 ($1) 9/30/2010 3/25/2013 $45,056 Adjustment Date $20,000 $103,895 $104,637 $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 Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 $1,000 $0 Borrower’s Incentives $2,702 $0 Lenders/ Investors Incentives $0 $0 Servicers Incentives TARP Incentive Payments Continued on next page $3,702 $0 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 341 Name of Institution Aurora Financial Group, Inc., Marlton, NJ Date 5/21/2010 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $10,000 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 6/30/2016 CAP Adjustment Amount ($149) ($1,166) ($697) 5/31/2016 6/27/2016 ($7,133) 2/25/2016 3/28/2016 ($3,375) ($2,498) ($2,527) 9/28/2015 ($10,654) 4/28/2015 6/25/2015 12/28/2015 ($2,703) 3/26/2015 ($207) 9/29/2014 ($3,496) ($625) 7/29/2014 ($210,000) ($315) 6/26/2014 3/16/2015 ($27) 3/26/2014 12/29/2014 ($1) ($759) 6/27/2013 12/23/2013 ($3) 3/25/2013 6/28/2012 ($5) ($2) 6/29/2011 ($1) $59,889 9/30/2010 9/27/2012 $250,111 5/26/2010 12/27/2012 $30,000 Adjustment Date $103,657 $104,354 $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 Adjusted CAP Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 Reason for Adjustment Adjustment Details $24,689 Borrower’s Incentives $0 Lenders/ Investors Incentives $27,844 Servicers Incentives TARP Incentive Payments Continued on next page $52,533 Total TARP Incentive Payments 342 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 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 6/30/2016 CAP Adjustment Amount ($8,454,269) ($342) ($374) $18,000,000 ($3,273) ($200,000) $100,000 ($500,000) ($1,768) ($90,000) ($134,230,000) ($166,976,849) $1 ($230,000) ($1) ($20,000) ($50,000) ($15) ($23,179,591) $4,440,000 9/30/2010 1/6/2011 3/30/2011 5/13/2011 6/29/2011 10/14/2011 3/15/2012 4/16/2012 6/28/2012 7/16/2012 8/16/2012 8/23/2012 9/27/2012 11/15/2012 3/25/2013 5/16/2013 6/14/2013 6/27/2013 7/9/2013 7/14/2010 ($5,500,000) $400,000 9/1/2010 $40,000 $2,719 9/24/2010 $9,150,000 ($76,870,000) $21,330,000 12/30/2009 3/26/2010 ($11,860,000) 6/17/2009 9/30/2009 7/14/2010 ($338,450,000) Adjustment Date 12/16/2013 12/29/2014 $42,719 $40,000 $0 $5,500,000 $85,863,519 $109,043,110 $109,043,125 $109,093,125 $109,113,125 $109,113,126 $109,343,126 $109,343,125 $276,319,974 $410,549,974 $410,639,974 $410,641,742 $411,141,742 $411,041,742 $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 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 $13,175 $41,236,850 Lenders/ Investors Incentives $1,000 $28,629,251 Servicers Incentives TARP Incentive Payments Continued on next page $24,175 $85,863,519 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 343 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 6/30/2016 CAP Adjustment Amount ($4) ($36) ($30) ($83) ($14) ($53) ($20) $460,000 ($7) ($12,339) $50,000 ($449) 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 1/16/2014 3/26/2014 $10,000 ($3) 9/30/2010 ($530,072) ($126,525) ($171,928) ($147,262) ($449,391) ($9,603) ($71,953) ($38,152) 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 5/31/2016 6/27/2016 $100,000 ($134,454) 3/26/2015 9/15/2011 ($3,515) ($354,804) 9/29/2014 12/29/2014 ($5,322) ($10,629) 6/26/2014 5/15/2014 7/29/2014 $20,000 4/16/2014 $765,945 Adjustment Date $100,000 $939,297 $977,449 $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 Updated due to quarterly assessment and reallocation 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 $227,399 Borrower’s Incentives $0 $142,013 Lenders/ Investors Incentives $0 $49,316 Servicers Incentives TARP Incentive Payments Continued on next page $0 $418,728 Total TARP Incentive Payments 344 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 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 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $1,864,000,000 $798,900,000 N/A N/A 7 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 6/30/2016 $800,390,000 ($829,370,000) ($366,750,000) $95,300,000 1/26/2010 3/26/2010 7/14/2010 9/30/2010 $222,941,084 $665,510,000 12/30/2009 ($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 9/30/2009 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 $512,166,202 $4,099,062 Borrower’s Incentives $876,244,027 $17,843,110 Lenders/ Investors Incentives $456,401,973 $9,075,439 Servicers Incentives TARP Incentive Payments Continued on next page $1,844,812,202 $31,017,611 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 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 6/30/2016 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) 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 $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 Transfer of cap due 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 346 APPENDIX C I TRANSACTION DETAIL I JULY 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 6/30/2016 Adjusted CAP ($6,533,419) ($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) $4,630,000 $2,090,000 ($111,487,799) $4,520,000 ($66,537,213) 9/29/2014 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 4/14/2016 5/16/2016 5/31/2016 6/16/2016 6/27/2016 $3,173,472,284 $3,240,009,497 $3,235,489,497 $3,346,977,296 $3,344,887,296 $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 $6,967,926,873 CAP Adjustment Amount 10/16/2014 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 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 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 JULY 27, 2016 347 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 6/30/2016 CAP Adjustment Amount $107,051,033 $107,050,956 $1,751,033 9/30/2010 ($610,000) ($48) ($40,000) 5/16/2013 6/27/2013 9/16/2013 ($721) ($170,000) ($328,286) 6/27/2016 $2,219,656 9/28/2015 ($750,000) $311,061 6/25/2015 6/16/2016 ($10,000) 5/14/2015 ($562,214) $189,139 4/28/2015 5/31/2016 ($330,000) 4/16/2015 ($74,514) ($7,703) 3/26/2015 3/28/2016 ($600,000) 3/16/2015 ($3,503,217) ($100,000) 1/15/2015 2/25/2016 $11,779,329 12/29/2014 ($30,000) ($250,000) 12/16/2014 $2,627,838 ($3,805) 9/29/2014 12/28/2015 ($440,000) 9/16/2014 11/16/2015 ($6,982) ($13,755) 7/29/2014 6/16/2014 6/26/2014 ($660,000) 3/26/2014 2/13/2014 ($14,953) ($142) 3/25/2013 12/23/2013 ($2,670,000) 2/14/2013 ($1,190,000) ($65) 12/27/2012 12/16/2013 $92,429,000 ($549) 9/27/2012 ($14) ($277) 6/28/2012 ($30,000) ($1,400,000) 3/15/2012 9/27/2013 ($773) 6/29/2011 11/14/2013 $92,429,014 ($88) 3/30/2011 $100,479,873 $100,808,159 $101,558,159 $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 $92,469,014 $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 ($77) ($9,900,000) 1/6/2011 3/16/2011 $105,300,000 $121,910,000 $23,880,000 ($16,610,000) $98,030,000 7/14/2010 1/22/2010 Adjusted CAP 3/26/2010 $4,370,000 Adjustment Date 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 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 $14,031,410 Borrower’s Incentives $38,970,762 Lenders/ Investors Incentives $14,185,655 Servicers Incentives TARP Incentive Payments Continued on next page $67,187,827 Total TARP Incentive Payments 348 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Purchase Purchase Purchase Purchase Name of Institution Bay Federal Credit Union, Capitola, CA Banner Bank, Walla Walla, WA Bay Gulf Credit Union, Tampa, FL Bayview Loan Servicing, LLC, Coral Gables, FL Date 9/16/2009 6/16/2016 12/9/2009 7/1/2009 Transaction Type $410,000 $0 $230,000 $44,260,000 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 6/30/2016 CAP Adjustment Amount $20,000 ($80,000) $34,540,000 $1,010,000 ($34,250,000) $600,000 ($15,252,303) ($70) ($86) $400,000 3/26/2010 5/7/2010 7/14/2010 9/30/2010 9/30/2010 1/6/2011 3/30/2011 4/13/2011 $1,810,000 ($508) $2,660,000 6/14/2012 6/28/2012 7/16/2012 $6,970,000 $30,000 5/16/2012 11/15/2012 $88,445,013 $200,000 4/16/2012 ($1,249) ($100,000) 3/15/2012 $160,000 $2,400,000 2/16/2012 9/27/2012 $900,000 1/13/2012 10/16/2012 $88,446,262 ($18,900,000) 10/14/2011 $95,575,013 $88,605,013 $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 $600,000 9/15/2011 $98,846,770 ($771) $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 $20,000 $0 $580,212 $580,220 6/29/2011 $100,000 $43,590,000 12/30/2009 5/13/2011 ($580,222) $23,850,000 9/30/2009 9/30/2010 10/15/2010 ($19,778) 7/14/2010 $440,000 1/22/2010 3/26/2010 $10,000 6/16/2016 ($8) ($580,212) 6/29/2011 1/25/2012 $580,221 ($1) ($1) 1/6/2011 3/30/2011 $580,222 ($1,419,778) 9/30/2010 $2,000,000 $2,120,000 $160,000 $1,960,000 ($120,000) 12/30/2009 $500,000 7/14/2010 $1,460,000 10/2/2009 Adjusted CAP 3/26/2010 $90,000 Adjustment Date Transfer of cap due 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 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 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 $65,201,670 $0 $0 $0 Borrower’s Incentives $110,527,069 $0 $0 $0 Lenders/ Investors Incentives $42,228,291 $0 $0 $0 Servicers Incentives TARP Incentive Payments Continued on next page $217,957,030 $0 $0 $0 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 349 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 6/30/2016 CAP Adjustment Amount $830,000 ($1,023) $1,490,000 2/14/2013 3/14/2013 3/25/2013 4/16/2013 $20,900,000 $260,000 ($131,553) $1,070,000 10/15/2013 11/14/2013 12/16/2013 12/23/2013 1/16/2014 $9,500,000 $430,000 ($3,540,000) 7/16/2015 8/14/2015 9/16/2015 $6,870,000 4/16/2015 ($180,754) $36,955,812 3/26/2015 $16,940,000 $39,430,000 3/16/2015 6/25/2015 $120,000 2/13/2015 6/16/2015 $330,000 1/15/2015 ($752,669) $81,111,129 12/29/2014 $5,890,000 $10,000 12/16/2014 5/14/2015 $6,070,000 11/14/2014 4/28/2015 ($680,000) 10/16/2014 $4,260,000 8/14/2014 $260,000 $13,360,843 7/29/2014 $13,718,841 $10,000 7/16/2014 9/29/2014 $18,557,651 6/26/2014 9/16/2014 $500,000 $2,600,000 6/16/2014 4/16/2014 5/15/2014 ($1,050) $5,270,000 3/26/2014 $2,570,000 $5,430,000 9/27/2013 $1,530,000 ($91) 9/16/2013 2/13/2014 $11,730,000 7/16/2013 3/14/2014 ($308) $21,430,000 6/27/2013 $660,000 $3,250,000 1/16/2013 $7,470,000 $90,000 12/27/2012 6/14/2013 ($298) 12/14/2012 5/16/2013 $13,590,000 Adjustment Date $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 $109,164,715 $109,165,013 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 Transfer of cap due 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 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 350 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Purchase Purchase Name of Institution BMO Harris Bank, NA, Chicago, IL Bramble Savings Bank, Cincinanati, OH Date 5/15/2014 8/20/2010 Transaction Type $0 $700,000 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 6/30/2016 Adjusted CAP ($3,150,000) $11,150,000 ($435,564) ($180,000) ($17,340,000) ($950,288) ($530,000) $38,851,352 $530,000 $7,000,000 $13,216,422 $120,000 $10,406,631 $30,000 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 4/14/2016 5/16/2016 5/31/2016 6/16/2016 6/27/2016 5/15/2014 $40,000 $16,640,000 ($2) 9/30/2010 1/6/2011 ($3) $1,040,667 4/16/2015 ($28) ($1,740,634) 3/30/2011 $20,000 11/14/2014 $12,163,584 9/28/2015 10/15/2015 6/29/2011 8/10/2011 $0 $1,740,634 $1,740,662 $1,740,665 $1,740,667 $90,000 $70,000 $30,000 $532,273,680 $521,867,049 $521,747,049 $508,530,627 $501,530,627 $501,000,627 $462,149,275 $462,679,275 $463,629,563 $480,969,563 $481,149,563 $481,585,127 $470,435,127 $473,585,127 $456,945,127 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 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 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 Reason for Adjustment Adjustment Details $0 $682 Borrower’s Incentives $0 $0 Lenders/ Investors Incentives $0 $744 Servicers Incentives TARP Incentive Payments Continued on next page $0 $1,426 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 351 Purchase Purchase Name of Institution Bridgelock Capital dba Peak Loan Servicing, Woodland Hills, CA Caliber Home Loans, Inc (Vericrest Financial, Inc.), Oklahoma City, OK Date 7/16/2013 9/15/2010 Transaction Type Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $0 $0 N/A N/A 3 3 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 6/30/2016 Adjusted CAP ($1,290) 3/26/2015 ($266) ($689) $720,000 ($114) $8,020,000 6/28/2012 9/27/2012 11/15/2012 12/27/2012 1/16/2013 ($2,500,000) $300,000 4/16/2012 2/13/2014 $900,000 1/13/2012 ($1,130,000) $4,100,000 12/15/2011 1/16/2014 $12,000,000 7/14/2011 ($135,776) ($227) 6/29/2011 12/23/2013 ($24) 3/30/2011 ($80) $10,200,000 3/16/2011 ($223) $3,000,000 2/16/2011 9/27/2013 ($2) 1/6/2011 6/27/2013 $450,556 9/30/2010 ($591) $1,000,000 9/15/2010 ($40,000) ($26,223) 6/27/2016 5/16/2013 $160,000 6/16/2016 3/25/2013 ($133) 2/25/2016 ($1,043) ($6,381) 12/28/2015 5/31/2016 ($2,234) 11/16/2015 3/28/2016 $10,000 ($20,000) 10/15/2015 ($5,225) ($3,430) 12/29/2014 9/28/2015 ($30,000) 12/16/2014 $10,000 $40,000 10/16/2014 $10,000 ($14) 9/29/2014 9/16/2015 ($43) 7/29/2014 8/14/2015 ($21) 6/26/2014 ($5,084) $40,000 6/16/2014 ($1,206) $30,000 4/16/2014 4/28/2015 $30,000 6/25/2015 $10,000 7/16/2013 12/16/2013 $36,882,564 $39,382,564 $40,512,564 $40,648,340 $40,648,420 $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 $26,650,303 $14,650,303 $14,650,530 $14,650,554 $4,450,554 $1,450,554 $1,450,556 $1,000,000 $237,673 $263,896 $103,896 $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 CAP Adjustment Amount Adjustment Date 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 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 Transfer of cap due to servicing transfer Updated due to quarterly assessment and reallocation 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 Reason for Adjustment Adjustment Details $1,647,169 $0 Borrower’s Incentives $4,300,941 $0 Lenders/ Investors Incentives $3,434,470 $0 Servicers Incentives TARP Incentive Payments Continued on next page $9,382,581 $0 Total TARP Incentive Payments 352 APPENDIX C I TRANSACTION DETAIL I JULY 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 6/30/2016 CAP Adjustment Amount $43,436,764 $4,160,000 $10,500,000 ($7,908,989) ($1,130,000) ($50,000) ($22,722,990) $3,010,000 ($507,342) ($280,000) $6,440,000 ($5,160,746) $1,600,000 ($3,196,570) 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 4/14/2016 5/16/2016 5/31/2016 6/16/2016 6/27/2016 $45,849,177 ($5,284,205) $12,370,000 9/28/2015 ($10,000) $7,260,000 8/14/2015 9/16/2015 10/15/2015 $51,133,382 $1,440,000 7/16/2015 $46,076,764 $42,972,540 $46,169,110 $44,569,110 $49,729,856 $43,289,856 $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 $43,873,382 $43,883,382 $42,443,382 ($30,000) ($3,633,382) $46,106,764 6/16/2015 $2,670,000 $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 Adjusted CAP 6/25/2015 ($14,815,120) $2,100,000 1/15/2015 5/14/2015 ($8,067,210) 12/29/2014 4/28/2015 $4,210,000 12/16/2014 ($20,000) $7,720,000 11/14/2014 ($3,781,724) $7,680,000 10/16/2014 4/16/2015 ($40,882) 9/29/2014 3/26/2015 ($120,725) 7/16/2014 7/29/2014 $80,000 $2,590,000 6/26/2014 $8,990,000 ($55,442) 3/26/2014 3/16/2015 ($4,697) 3/14/2014 2/13/2015 $90,000 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 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 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 JULY 27, 2016 353 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 6/30/2016 CAP Adjustment Amount $10,000 ($258) ($512) ($169) ($20,494) $110,000 6/16/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 1/15/2015 ($16,311) ($20) 3/14/2014 3/26/2014 ($96) ($191) 6/26/2014 7/29/2014 ($63) ($8) 9/30/2009 $74,520,000 ($75,610,000) $1,100,000 $3,763,685 3/26/2010 $57,980,000 $90,990,000 6/17/2009 12/30/2009 ($742) ($63,980,000) 6/27/2016 ($159) ($1,242) 5/31/2016 2/25/2016 3/28/2016 ($2,660) ($7,597) 12/28/2015 ($2,691) ($3,595) 6/25/2015 9/28/2015 ($2,879) ($11,347) 3/26/2015 12/29/2014 4/28/2015 ($7,654) 9/29/2014 ($232) 3/26/2014 ($1) 6/28/2012 12/23/2013 ($1) 6/29/2011 ($2) $45,056 ($1) ($49,636) 6/27/2016 9/30/2010 9/27/2012 ($83,089) 5/31/2016 3/25/2013 ($899) $360,000 ($43,047) 2/25/2016 4/14/2016 ($15,073) 12/28/2015 3/28/2016 ($15,247) ($20,367) 6/25/2015 4/28/2015 9/28/2015 ($64,289) 3/26/2015 $210,000 Adjustment Date 7/14/2010 8/13/2010 9/30/2010 $283,763,685 $280,000,000 $278,900,000 $354,510,000 $279,990,000 $222,010,000 $131,020,000 $103,895 $104,637 $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 $360,589 $410,225 $493,314 $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 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 Updated due to quarterly assessment and reallocation 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 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 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 $27,782,504 $0 $3,917 Borrower’s Incentives $46,817,170 $0 $3,569 Lenders/ Investors Incentives $30,240,342 $0 $3,800 Servicers Incentives TARP Incentive Payments Continued on next page $104,840,016 $0 $11,286 Total TARP Incentive Payments 354 APPENDIX C I TRANSACTION DETAIL I JULY 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 6/30/2016 CAP Adjustment Amount $50,000 ($30,084) $2,660,000 ($430,000) ($130,000) ($351,513) ($23,460,000) ($621,598) ($560,000) 3/26/2014 4/16/2014 5/15/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 $5,370,000 9/16/2013 3/14/2014 $270,000 7/16/2013 $280,000 ($1,522) 6/27/2013 2/13/2014 ($1,880,000) 6/14/2013 $120,000 $1,570,000 5/16/2013 1/16/2014 ($70,000) 4/16/2013 ($873,891) ($4,179) 3/25/2013 12/23/2013 ($30,000) 3/14/2013 $1,370,000 $4,960,000 2/14/2013 12/16/2013 ($10,000) 1/16/2013 $2,000,000 ($1,103) 12/27/2012 11/14/2013 $311,892,903 $2,040,000 12/14/2012 ($525) $1,500,000 11/15/2012 ($240,000) $2,880,000 10/16/2012 9/27/2013 ($6,632) 9/27/2012 10/15/2013 $311,893,428 ($30,000) 8/16/2012 $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 $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 ($2,520) $2,240,000 6/14/2012 $291,409,384 $290,559,384 $1,690,000 $850,000 5/16/2012 7/16/2012 $100,000 4/16/2012 $290,459,384 $289,359,384 6/28/2012 $1,100,000 2/16/2012 $288,359,384 $100,000 $1,000,000 9/15/2011 11/16/2011 $288,259,384 $1,800,000 8/16/2011 $286,459,384 $286,462,976 $286,463,360 ($384) 1/13/2011 $284,063,685 $284,063,360 ($3,592) $2,400,000 1/6/2011 6/29/2011 ($325) 12/15/2010 Adjusted CAP 3/30/2011 $300,000 Adjustment Date 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 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 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 355 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 6/30/2016 CAP Adjustment Amount $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 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 $8,550,000 ($6,799,869) ($380,000) ($3,862,673) 5/16/2016 5/31/2016 6/16/2016 6/27/2016 ($580,686) $10,000 11/14/2014 $6,440,000 ($19,600,000) 10/16/2014 4/14/2016 ($205,371) 9/16/2014 9/29/2014 3/28/2016 $8,810,000 Adjustment Date $224,175,500 $228,038,173 $228,418,173 $235,218,042 $226,668,042 $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 $280,690,446 $280,680,446 $300,280,446 $300,485,817 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 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 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 356 APPENDIX C I TRANSACTION DETAIL I JULY 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 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 6/30/2016 ($23,350,000) $7,846,346 ($46) ($55) ($452) ($309) ($807) ($131) ($475) ($175) 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 ($97,446) ($24,922) ($85,207) ($24,675) 2/25/2016 3/28/2016 5/31/2016 6/27/2016 $10,000 ($1,667,058) 12/28/2015 11/16/2015 ($20,000) $1,311,814 10/15/2015 ($31,427) $2,309,433 $3,297,369 4/28/2015 6/25/2015 ($307,107) 3/26/2015 9/28/2015 ($21,381) ($960,875) 9/29/2014 12/29/2014 ($35,874) ($69,315) 6/26/2014 3/26/2014 7/29/2014 ($3,201) 12/23/2013 ($62) $42,646,300 ($116,950,000) 3/26/2010 7/14/2010 9/27/2013 $42,646,346 $145,510,000 12/30/2009 $10,000 $46,213,962 $46,238,637 $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 Updated due to quarterly assessment and reallocation 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 $7,780,354 Borrower’s Incentives $0 $9,600,390 Lenders/ Investors Incentives $0 $6,100,545 Servicers Incentives TARP Incentive Payments Continued on next page $0 $23,481,289 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 357 Purchase Purchase Purchase Purchase Purchase Purchase Name of Institution Central Florida Educators Federal Credit Union, Lake Mary, FL 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 9/9/2009 9/23/2009 3/16/2016 9/24/2010 4/13/2009 6/14/2013 Transaction Type $1,250,000 $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 Financial Instrument for Home Loan Modifications N/A N/A N/A N/A N/A N/A 3 1 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 6/30/2016 CAP Adjustment Amount $10,000 $120,000 10/2/2009 12/30/2009 $20,000 ($4) 9/30/2010 ($3,552,000,000) 3/9/2011 $1,344 6/14/2013 $6,250 6/27/2013 $10,000 7/31/2009 ($2,756,052) 1/6/2011 $856,056 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 $160,000 $40,000 $1,860,750 $10,000 ($3,329) 6/27/2016 $1,864,079 $1,869,599 $1,870,910 $1,933,499 $1,929,635 $1,931,589 $1,900,763 $1,867,176 $1,867,716 $1,426,423 $1,358,164 $1,326,960 $1,239,915 $1,212,989 $1,177,551 $1,118,087 $1,082,121 3/26/2010 ($1,311) ($5,520) 3/28/2016 5/31/2016 $3,864 ($62,589) 2/25/2016 ($1,954) 9/28/2015 12/28/2015 $30,826 6/25/2015 ($2) 7/29/2014 $33,587 $68,259 6/26/2014 4/28/2015 $31,204 3/26/2014 ($540) $87,045 12/23/2013 3/26/2015 $1,426,400 $26,926 9/27/2013 ($21) $35,438 6/27/2013 $441,316 $59,464 3/25/2013 9/29/2014 $35,966 12/27/2012 12/29/2014 $1,426,421 $190,077 9/27/2012 $892,044 $870,327 $870,332 ($5) ($1) 3/30/2011 $870,333 $21,717 ($1) 1/6/2011 $870,334 6/29/2011 $270,334 9/30/2010 $600,000 $900,000 $780,000 $1,530,000 Adjusted CAP 6/28/2012 $120,000 ($300,000) 12/30/2009 7/14/2010 ($750,000) 10/2/2009 3/26/2010 $280,000 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 Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 $3,000 $0 $0 $10,000 $0 $290,464 Borrower’s Incentives $2,764 $0 $0 $0 $0 $360,420 Lenders/ Investors Incentives $2,000 $0 $0 $3,000 $0 $338,527 Servicers Incentives TARP Incentive Payments Continued on next page $7,764 $0 $0 $13,000 $0 $989,411 Total TARP Incentive Payments 358 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 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 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 6/30/2016 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) ($10,000) 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 2/13/2014 ($6,240,000) $5,500,000 9/30/2010 ($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) ($27,071,758) ($16,052,761) 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 5/31/2016 6/27/2016 3/26/2014 6/16/2014 ($181,765) 3/14/2014 $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 $611,554,693 $627,607,454 $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 Updated due to quarterly assessment and reallocation 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 $73,140,545 Borrower’s Incentives $240,629,225 Lenders/ Investors Incentives $91,168,632 Servicers Incentives TARP Incentive Payments Continued on next page $404,938,402 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 359 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 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 6/30/2016 ($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) 6/16/2010 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 ($230,000) 3/26/2010 $1,984,190,000 ($3,000,000) ($199,300,000) 12/30/2009 $2,089,600,000 $1,079,420,000 5/14/2010 ($105,410,000) 9/30/2009 Adjusted CAP 4/19/2010 ($991,580,000) $1,010,180,000 6/12/2009 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 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 $143,461,861 Borrower’s Incentives $358,135,236 Lenders/ Investors Incentives $141,618,275 Servicers Incentives TARP Incentive Payments Continued on next page $643,215,372 Total TARP Incentive Payments 360 APPENDIX C I TRANSACTION DETAIL I JULY 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 6/30/2016 ($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) $20,325,747 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 12/28/2015 CAP Adjustment Amount Adjustment Date $1,030,468,319 $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 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 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 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 361 Purchase Purchase Purchase Purchase Name of Institution Citizens Community Bank, Freeburg, IL Citizens First National Bank, Spring Valley, IL Citizens First Wholesale Mortgage Company, The Villages, FL ClearSpring Loan Services, Inc. (Vantium Capital, Inc. d/b/a Acqura Loan Services), Plano, TX Date 9/24/2010 12/16/2009 6/26/2009 9/2/2009 Transaction Type Financial Instrument for Home Loan Modifications $6,000,000 $30,000 $620,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications $800,000 N/A N/A N/A N/A 4 6 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 6/30/2016 CAP Adjustment Amount ($34,557,541) ($6,120,000) ($588,465) ($14,990,000) ($20,250,000) $13,423,899 ($16,740,000) $7,280,004 $360,445 2/16/2016 2/25/2016 3/16/2016 3/28/2016 4/14/2016 5/16/2016 5/31/2016 6/16/2016 6/27/2016 9/30/2010 ($2) ($250,000) 1/14/2016 ($30) ($11) ($4) ($6,733) ($237) ($90,000) 3/25/2013 6/27/2013 9/27/2013 12/23/2013 3/26/2014 5/15/2014 ($580,000) ($3,390,000) 12/30/2009 $410,000 $1,310,000 10/2/2009 ($730,000) $4,700,000 $117,764 $800,000 3/26/2010 $45,056 ($145,056) 2/17/2011 7/14/2010 9/30/2010 $70,000 3/26/2010 $590,000 ($8) 12/27/2012 12/30/2009 ($45) 9/27/2012 ($10,000) ($16) 6/28/2012 9/30/2009 ($24) 6/29/2011 ($2,840) ($3) 3/30/2011 ($1,353,853) ($2) 1/6/2011 7/1/2014 $95,612 9/30/2010 6/26/2014 ($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 ($440,000) Adjustment Date 7/14/2010 9/15/2010 9/30/2010 11/16/2010 $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 $957,236,216 $949,956,212 $966,696,212 $953,272,313 $973,522,313 $988,512,313 $989,100,778 $995,220,778 $1,029,778,319 $1,030,028,319 Adjusted 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 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 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 Reason for Adjustment Adjustment Details $248,671 $0 $27,230 $0 Borrower’s Incentives $545,625 $0 $67,847 $0 Lenders/ Investors Incentives $399,564 $0 $46,730 $0 Servicers Incentives TARP Incentive Payments Continued on next page $1,193,860 $0 $141,806 $0 Total TARP Incentive Payments 362 APPENDIX C I TRANSACTION DETAIL I JULY 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 6/30/2016 CAP Adjustment Amount ($970,000) ($370,000) ($898,229) 8/14/2015 9/16/2015 9/28/2015 ($51,728) ($230,000) $1,210,000 7/16/2014 7/29/2014 7/16/2015 ($23,438) 6/26/2014 ($735,363) $100,000 6/16/2014 6/25/2015 ($230,000) 5/15/2014 ($3,110,011) $80,000 4/16/2014 4/28/2015 ($1,989) ($789,030) ($40,000) 3/14/2014 3/26/2014 3/26/2015 ($90,000) 2/13/2014 ($2,097,962) ($57,271) 12/23/2013 12/29/2014 $40,000 12/16/2013 ($10,000) ($34) 9/27/2013 11/14/2014 ($290,000) 7/16/2013 ($17,168) ($95) 6/27/2013 $500,000 $10,000 6/14/2013 9/29/2014 $40,000 5/16/2013 10/16/2014 ($256) ($620,000) ($20,000) 3/14/2013 4/16/2013 ($770,000) 2/14/2013 3/25/2013 ($71) ($10,000) 7/16/2012 12/27/2012 $15,206,979 ($147) 6/28/2012 ($413) $100,000 10/14/2011 ($40,000) $100,000 9/15/2011 9/27/2012 $300,000 8/16/2011 11/15/2012 $15,207,392 ($189) $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 $15,217,392 $15,217,539 $15,117,539 $15,017,539 $14,717,539 $14,717,728 $14,417,728 $14,417,747 6/29/2011 2/16/2011 $12,617,747 ($19) $1,800,000 1/13/2011 $11,917,764 $11,917,747 $300,000 $700,000 1/6/2011 4/13/2011 ($17) 12/15/2010 Adjusted CAP 3/30/2011 $2,700,000 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 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 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 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 363 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 Date 3/16/2015 5/15/2014 12/4/2009 Transaction Type $0 $0 $380,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications N/A N/A N/A 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 6/30/2016 CAP Adjustment Amount ($11,344) ($240) ($1,896) 2/25/2016 3/28/2016 5/31/2016 ($1) 9/30/2010 6/29/2011 ($2) ($96) ($144,524) 8/26/2014 3/26/2014 ($191) ($8) 12/23/2013 7/29/2014 ($232) 3/25/2013 6/26/2014 ($1) 9/27/2012 ($1) $45,056 7/14/2010 6/28/2012 $520,000 ($810,000) 3/26/2010 ($1,164) ($1,841) 12/28/2015 $10,000 $35,609 12/29/2014 1/22/2010 ($47) 9/29/2014 6/27/2016 ($143) 7/29/2014 ($2,289) 3/28/2016 ($72) $10,000 3/16/2016 $160,000 ($96,994) 2/25/2016 6/26/2014 ($10,000) 2/16/2016 5/15/2014 ($35,915) 12/28/2015 ($17,915) $240,000 11/16/2015 ($10,702) $10,000 10/15/2015 5/31/2016 $70,000 3/16/2015 6/27/2016 ($291,214) 3/28/2016 6/27/2016 ($52,053) 3/16/2016 $290,000 $190,000 2/25/2016 6/16/2016 ($2,262,695) 1/14/2016 $70,000 ($20,000) 12/28/2015 ($422,197) ($774,973) 12/16/2015 5/31/2016 $10,000 10/15/2015 5/16/2016 $590,000 Adjustment Date $0 $144,524 $144,715 $144,811 $144,819 $145,051 $145,052 $145,054 $145,055 $145,056 $100,000 $910,000 $390,000 $178,862 $180,026 $181,922 $182,162 $193,506 $195,347 $159,738 $159,785 $159,928 $160,000 $156,185 $166,887 $184,802 $187,091 $177,091 $274,085 $284,085 $320,000 $80,000 $70,000 $3,051,202 $3,342,416 $3,052,416 $3,474,613 $3,404,613 $3,456,666 $3,266,666 $5,529,361 $5,549,361 $6,324,334 $6,314,334 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 due to quarterly assessment 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 Updated due to quarterly assessment and reallocation 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 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 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 Reason for Adjustment Adjustment Details $0 $22,583 $7,833 Borrower’s Incentives $0 $40,697 $30,964 Lenders/ Investors Incentives $0 $9,000 $4,000 Servicers Incentives TARP Incentive Payments Continued on next page $0 $72,280 $42,797 Total TARP Incentive Payments 364 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Purchase Purchase Purchase Purchase Purchase Name of Institution Community Credit Union of Florida, Rockledge, FL CU Mortgage Services, Inc., New Brighton, MN Desjardins Bank N.A., Hallandale Beach, FL Digital Federal Credit Union, Marlborough, MA Ditech Financial LLC (Green Tree Servicing LLC), Saint Paul, MN Date 9/30/2010 9/30/2010 12/16/2013 1/15/2010 4/24/2009 Transaction Type $0 $3,050,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications $156,000,000 $100,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications $2,000,000 N/A N/A N/A N/A N/A 3 6 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 6/30/2016 CAP Adjustment Amount 1/6/2011 ($5) ($4) 9/30/2010 ($8) ($96) ($191) 3/26/2014 6/26/2014 7/29/2014 ($63) ($232) 12/23/2013 ($7,597) 2/25/2016 ($15,240,000) $12,190,000 $10,000 $30,000 $146,695,090 $5,600,000 $10,185,090 $400,000 ($213) ($250) 9/30/2010 9/30/2010 10/15/2010 1/6/2011 3/30/2011 $147,094,627 $147,094,877 $147,095,090 $130,910,000 $136,510,000 $34,600,000 9/10/2010 $96,310,000 $94,110,000 $2,200,000 $210,000 7/16/2010 $93,900,000 $118,120,000 $105,040,000 $221,790,000 $91,010,000 $0 $15,240,000 $40,000 $30,000 $103,895 $104,637 $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 $12,632 $2,901,019 $2,901,055 $2,901,103 $2,901,108 $2,901,112 Adjusted CAP 8/13/2010 $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 12/16/2013 ($742) ($2,660) 6/27/2016 ($3,595) 9/28/2015 12/28/2015 ($159) ($2,691) 4/28/2015 6/25/2015 ($1,242) ($11,347) 3/26/2015 5/31/2016 ($2,879) 12/29/2014 3/28/2016 ($7,654) 9/29/2014 ($2) ($1) 6/28/2012 ($1) ($1) 6/29/2011 9/27/2012 $45,056 9/30/2010 3/25/2013 ($36) ($2,888,387) 9/14/2012 6/29/2011 6/28/2012 ($48) 3/30/2011 $901,112 Adjustment Date 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 Updated due to quarterly assessment and reallocation 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 Reason for Adjustment Adjustment Details $99,728,669 $0 $3,000 $0 $3,000 Borrower’s Incentives $62,759,874 $0 $11,883 $0 $4,632 Lenders/ Investors Incentives $22,856,558 $0 $1,000 $0 $5,000 Servicers Incentives TARP Incentive Payments Continued on next page $185,345,100 $0 $15,883 $0 $12,632 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 365 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 6/30/2016 ($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 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 $1,700,000 2/13/2014 6/26/2014 ($710,351) 12/23/2013 ($2,000,000) $21,280,000 12/16/2013 $12,810,000 ($320,000) 11/14/2013 6/16/2014 $3,610,000 10/15/2013 5/15/2014 ($388) ($22,400) $6,730,000 8/15/2013 9/27/2013 $2,280,000 $7,210,000 7/16/2013 4/16/2014 ($1,077) 6/27/2013 3/26/2014 $140,000 5/16/2013 $5,120,000 8/16/2012 ($3,023) $110,000 7/16/2012 3/25/2013 ($1,622) 6/28/2012 $10,210,000 $920,000 6/14/2012 2/14/2013 $3,260,000 5/16/2012 ($802) $100,000 3/15/2012 12/27/2012 $900,000 2/16/2012 $2,910,000 $400,000 11/16/2011 11/15/2012 $161,496,194 $200,000 ($4,509) $200,000 9/15/2011 10/14/2011 $8,810,000 $161,500,703 $1,900,000 7/14/2011 9/27/2012 $150,492,325 ($2,302) 6/29/2011 10/16/2012 $150,292,325 $100,000 $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 $156,380,703 $156,270,703 $156,272,325 $155,352,325 $152,092,325 $151,992,325 $151,092,325 $150,692,325 $148,392,325 $148,394,627 $148,294,627 $1,200,000 5/13/2011 6/16/2011 Adjusted CAP CAP Adjustment Amount Adjustment Date Transfer of cap due 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 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 366 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Name of Institution DuPage Credit Union, Naperville, FL Date 10/30/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $70,000 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 6/30/2016 CAP Adjustment Amount $3,840,000 4/28/2015 5/14/2015 ($117) ($240) ($1,879) ($1,123) 3/28/2016 5/31/2016 6/27/2016 ($1,672) ($11,493) ($2,259) 9/28/2015 2/25/2016 $73,328 4/28/2015 12/28/2015 ($377) ($142) 3/26/2015 9/29/2014 12/29/2014 ($39) 7/29/2014 ($59) ($5) 6/26/2014 ($145) 3/26/2014 ($1) 6/29/2011 12/23/2013 $45,056 9/30/2010 ($1) $10,000 7/14/2010 ($1) $10,000 3/26/2010 9/27/2012 $10,000 1/22/2010 3/25/2013 ($8,966,552) $3,860,000 4/14/2016 6/27/2016 ($1,385,279) 3/28/2016 ($5,780,000) $1,530,000 3/16/2016 6/16/2016 ($57,817,969) 2/25/2016 ($1,540,000) ($2,820,000) 2/16/2016 ($11,376,624) ($10,000) 1/14/2016 5/31/2016 ($491,522) 12/28/2015 5/16/2016 ($30,000) ($1,800,000) 9/28/2015 12/16/2015 $1,314,631 9/16/2015 11/16/2015 $160,000 ($730,000) 8/14/2015 $1,933,295 $406,883,574 4/16/2015 $6,480,000 ($1,440,000) 3/26/2015 6/25/2015 ($2,999,340) 3/16/2015 7/16/2015 ($1,400,000) Adjustment Date $198,831 $199,954 $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 $561,807,631 $570,774,183 $576,554,183 $587,930,807 $589,470,807 $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 $641,210,946 $639,277,651 $635,437,651 $228,554,077 $229,994,077 $232,993,417 Adjusted CAP Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 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 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 Reason for Adjustment Adjustment Details $45,571 Borrower’s Incentives $43,957 Lenders/ Investors Incentives $19,442 Servicers Incentives TARP Incentive Payments Continued on next page $108,970 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 367 Purchase Purchase Purchase Purchase Purchase Name of Institution Eastern Bank, Boston, MA Eaton National Bank & Trust Company, Eaton, OH EMC Mortgage Corporation, Lewisville, TX Everbank, Jacksonville, FL Farmers State Bank, West Salem, OH Date 3/16/2016 12/23/2009 7/31/2009 7/16/2013 7/17/2009 Transaction Type $0 $60,000 $707,380,000 $0 $170,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications N/A N/A N/A N/A N/A 3 8 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 6/30/2016 $20,000 CAP Adjustment Amount $50,000 3/26/2010 ($10,000) $502,430,000 ($134,560,000) ($392,140,000) ($630,000) $13,100,000 5/20/2011 9/30/2009 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 ($8,692) 5/13/2011 6/29/2011 7/14/2011 10/19/2011 7/16/2013 9/16/2014 8/14/2015 9/28/2015 ($10,008) ($925) 3/30/2011 $100,000 $50,000 12/30/2009 ($130,000) $45,056 ($145,056) 3/26/2010 ($2,792) ($90,000) 6/27/2016 9/30/2009 ($597) ($4,673) 5/31/2016 2/25/2016 3/28/2016 ($28,583) 12/28/2015 ($4,000,000) 3/16/2011 7/14/2010 9/30/2010 5/20/2011 $0 $145,056 $100,000 $230,000 $130,000 $80,000 $114,655 $117,447 $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 $0 $145,056 $200,000 $150,000 $20,000 Adjusted CAP 10/15/2010 ($8,006,457) ($145,056) 9/30/2010 9/30/2010 ($54,944) 7/14/2010 $90,000 3/16/2016 Adjustment Date 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 due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 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 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 Reason for Adjustment Adjustment Details $0 $4,917 $7,569,459 $0 $3,000 Borrower’s Incentives $0 $8,524 $11,592,937 $0 $0 Lenders/ Investors Incentives $0 $3,000 $16,279,383 $0 $3,000 Servicers Incentives TARP Incentive Payments Continued on next page $0 $16,440 $35,441,779 $0 $6,000 Total TARP Incentive Payments 368 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Name of Institution Fay Servicing, LLC, Chicago, IL Date 9/3/2010 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $3,100,000 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 6/30/2016 CAP Adjustment Amount ($61) $30,000 ($590,000) ($80,000) ($214) $200,000 12/27/2012 1/16/2013 2/14/2013 3/14/2013 3/25/2013 4/16/2013 $3,710,000 $1,810,000 10/16/2012 ($4,045) $70,000 $640,000 $15,780,000 ($69,560) ($290,000) ($138,184) $990,000 $2,890,000 ($38,150) 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 $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 9/16/2013 10/15/2013 $31,287,239 $20,000 $4,840,000 8/15/2013 $19,777,239 $72,892,870 $72,931,020 $70,041,020 $69,051,020 $69,189,204 $69,479,204 $69,548,764 $53,768,764 $53,128,764 $53,058,764 $53,062,809 $47,342,809 $41,452,809 $33,102,809 $33,187,185 $33,047,185 $32,007,185 $26,447,239 $26,427,239 ($86) $6,650,000 $19,777,325 7/16/2013 6/14/2013 $18,017,325 $14,307,325 $14,107,325 $14,107,539 $14,187,539 $14,777,539 $14,747,539 $14,747,600 $12,937,600 $12,937,894 $12,847,894 $12,797,894 $12,797,999 $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 Adjusted CAP 6/27/2013 $1,760,000 5/16/2013 ($294) 9/27/2012 4/16/2012 $90,000 $1,600,000 12/15/2011 8/16/2012 $1,700,000 11/16/2011 $50,000 $200,000 10/14/2011 7/16/2012 $100,000 9/15/2011 ($105) $700,000 6/29/2011 6/28/2012 ($143) 4/13/2011 $40,000 $400,000 3/30/2011 ($210,000) ($15) 1/6/2011 6/14/2012 ($12) 9/30/2010 5/16/2012 $5,168,169 Adjustment Date 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 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 Reason for Adjustment Adjustment Details $13,058,679 Borrower’s Incentives $21,811,820 Lenders/ Investors Incentives $5,706,491 Servicers Incentives TARP Incentive Payments Continued on next page $40,576,991 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 369 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 6/30/2016 CAP Adjustment Amount $80,000 $1,530,000 12/29/2014 1/15/2015 2/13/2015 ($603,048) $500,000 $100,000 ($9) $200,000 $100,000 $2,500,000 $1,510,000 6/27/2016 5/13/2011 6/16/2011 6/29/2011 7/14/2011 9/15/2011 11/16/2011 5/16/2012 $450,000 $3,050,000 6/16/2016 ($66) $250,000 $90,000 ($191) $140,000 $70,000 $40,000 ($34) 6/14/2012 $1,530,000 ($1,164,291) 5/16/2016 4/14/2016 5/31/2016 ($179,850) $1,110,000 3/28/2016 $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 8/14/2015 11/16/2015 $6,280,000 7/16/2015 10/15/2015 ($6,500,000) 6/25/2015 $1,750,000 ($179,814) 6/16/2015 $1,030,559 $530,000 5/14/2015 9/16/2015 $180,000 4/28/2015 9/28/2015 $630,000 ($118,190) 4/16/2015 ($770,000) ($328,884) 12/16/2014 $1,070,605 ($5,930,000) 11/14/2014 3/26/2015 $5,980,000 10/16/2014 3/16/2015 ($1,830,000) Adjustment Date 6/28/2012 7/16/2012 8/16/2012 9/27/2012 10/16/2012 11/15/2012 12/14/2012 12/27/2012 $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 $93,612,463 $94,215,511 $91,165,511 $92,329,802 $90,799,802 $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 $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 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 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 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 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 $76,326 Borrower’s Incentives $154,324 Lenders/ Investors Incentives $55,412 Servicers Incentives TARP Incentive Payments Continued on next page $286,062 Total TARP Incentive Payments 370 APPENDIX C I TRANSACTION DETAIL I JULY 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 6/30/2016 CAP Adjustment Amount ($53) $20,000 ($19) $260,000 $30,000 ($33,755) $110,000 $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 7/16/2013 9/27/2013 10/15/2013 11/14/2013 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 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 4/16/2013 6/27/2013 ($10,000) 3/25/2013 $40,000 ($135) 3/14/2013 $200,000 $360,000 2/14/2013 6/14/2013 $50,000 1/16/2013 5/16/2013 $40,000 Adjustment Date $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 $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 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 Transfer of cap due 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 Transfer of cap due 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 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 371 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 6/30/2016 CAP Adjustment Amount ($12) ($32) ($5) ($21) ($8) ($3) 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 ($4,716) ($16) 6/29/2011 ($1,276) ($130,634) ($49,137) ($187,406) ($45,604) ($60,938) ($41,224) ($126,974) ($2,655) ($25,640) ($15,317) 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 5/31/2016 6/27/2016 ($1,944) ($3,862) 6/26/2014 3/26/2014 7/29/2014 ($165) 12/23/2013 ($2) 1/22/2010 3/30/2011 $140,000 6/27/2016 ($1) ($290,202) 6/16/2016 1/6/2011 $80,000 5/31/2016 ($6,384,611) ($472,698) 5/16/2016 9/30/2010 $0 4/14/2016 $6,300,000 $350,000 3/28/2016 ($1,980,000) ($54,350) 3/16/2016 3/26/2010 $30,000 2/25/2016 7/14/2010 ($2,536,406) Adjustment Date $317,797 $333,114 $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 $2,186,547 $2,476,749 $2,396,749 $2,869,447 $2,869,447 $2,519,447 $2,573,797 $2,543,797 Adjusted CAP Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 Transfer of cap due 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 Reason for Adjustment Adjustment Details $17,949 Borrower’s Incentives $33,046 Lenders/ Investors Incentives $31,766 Servicers Incentives TARP Incentive Payments Continued on next page $82,761 Total TARP Incentive Payments 372 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 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 6/30/2016 CAP Adjustment Amount $2,304,333 $4,415 $495,986 $38,337 $16,222 $12,289 ($392,747) ($8,110) $20,000 ($61,251) ($33,414) 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 5/16/2016 5/31/2016 6/27/2016 $10,000 $33,199 9/29/2014 5/15/2014 ($35) $1,722 7/29/2014 ($18) 3/26/2014 6/26/2014 ($1) ($474) 6/27/2013 ($5) 3/25/2013 12/23/2013 ($5) ($1) 9/27/2012 ($3) 6/28/2012 12/27/2012 ($15) 6/29/2011 $8,123,112 ($2) ($2) 1/6/2011 3/30/2011 $8,123,114 $2,523,114 9/30/2010 $8,070,000 $10,000 $10,553,534 $10,586,948 $10,648,199 $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 $5,600,000 $2,460,000 $5,610,000 ($2,470,000) 12/30/2009 $4,930,000 3/26/2010 $680,000 9/30/2009 Adjusted CAP 7/14/2010 ($1,530,000) Adjustment Date 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 due to quarterly assessment 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 $2,322,739 Borrower’s Incentives $0 $2,943,322 Lenders/ Investors Incentives $0 $1,702,912 Servicers Incentives TARP Incentive Payments Continued on next page $5,917 $6,968,973 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 373 Purchase Purchase Purchase Name of Institution First Federal Bank of Florida, Lake City, FL First Federal Savings and Loan, Port Angeles, WA First Federal Savings and Loan Association of Lakewood, Lakewood, OH Date 9/30/2010 6/19/2009 12/16/2009 Transaction Type $3,460,000 $770,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications $100,000 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 6/30/2016 CAP Adjustment Amount ($8) ($96) ($191) 3/26/2014 6/26/2014 7/29/2014 ($63) ($232) 12/23/2013 6/27/2016 12/30/2009 $11,370,000 $103,895 ($742) $2,020,000 5/31/2016 4/21/2010 ($3,620,000) $160,000 5/26/2010 1/22/2010 ($14,160,000) 3/26/2010 $104,637 ($159) ($1,242) 3/28/2016 $113,635 $0 $3,620,000 $0 $14,160,000 $2,790,000 $105,879 $106,038 ($2,660) ($7,597) 2/25/2016 $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 12/28/2015 ($2,691) ($3,595) 6/25/2015 9/28/2015 ($2,879) ($11,347) 3/26/2015 12/29/2014 4/28/2015 ($7,654) 9/29/2014 ($2) 6/28/2012 ($1) ($1) 6/29/2011 9/27/2012 ($1) 9/30/2010 3/25/2013 $45,056 Adjustment Date 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 Updated due to quarterly assessment and reallocation 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 374 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Purchase Purchase Purchase Name of Institution First Financial Bank, N.A., Terre Haute, ID First Keystone Bank, Media, PA First Mortgage Company, LLC, Oklahoma City, OK Date 8/27/2010 11/25/2009 6/16/2014 Transaction Type $4,300,000 $1,280,000 $0 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications N/A N/A N/A 3 6 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 6/30/2016 CAP Adjustment Amount ($39,578) ($309,770) ($185,051) $50,000 $1,020,000 ($950,000) 3/28/2016 5/31/2016 6/27/2016 1/22/2010 3/26/2010 7/14/2010 ($2) ($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 $50,556 ($1,894,718) 2/25/2016 9/30/2010 ($663,462) 12/28/2015 7/29/2014 ($896,475) ($47,613) 6/26/2014 9/28/2015 ($23,972) 3/26/2014 $10,000 ($2,031) 12/23/2013 7/16/2015 ($57,776) 9/27/2013 ($669,754) ($34) 6/27/2013 6/25/2015 ($95) 3/25/2013 ($2,824,053) ($253) 12/27/2012 4/28/2015 ($67) 9/27/2012 ($716,488) ($396) 6/28/2012 3/26/2015 ($144) 6/29/2011 ($15,728) ($192) 3/30/2011 ($1,905,128) ($20) 1/6/2011 9/29/2014 ($17) 9/30/2010 12/29/2014 $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 $1,071,522 $1,256,573 $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 Updated due to quarterly assessment and reallocation 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 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 375 Purchase Purchase Purchase Purchase Purchase Name of Institution First Mortgage Corporation, Diamond Bar, CA First National Bank of Grant Park, Grant Park, IL First Safety Bank, Cincinnati, OH First State Bank, Mendota, IL Flagstar Capital Markets Corporation, Troy, MI Date 9/30/2010 1/13/2010 9/30/2010 4/14/2016 9/30/2010 Transaction Type $100,000 $140,000 $400,000 $0 $800,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications N/A N/A N/A N/A N/A 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 6/30/2016 CAP Adjustment Amount ($8) ($96) ($191) 3/26/2014 6/26/2014 7/29/2014 ($63) ($232) 12/23/2013 ($42) ($20,000) $150,000 2/25/2016 3/28/2016 5/16/2016 3/26/2010 $10,000 ($2,025) 2/16/2016 $180,222 1/26/2011 9/30/2010 ($1) ($290,111) 9/30/2010 $588 $1,160,445 $1,152,408 $0 ($14) ($37) ($6) ($24) ($9) ($3) ($5,463) ($192) ($2,267) ($1,152,408) $10,000 $10,000 $10,000 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 7/1/2014 4/16/2015 5/14/2015 1/14/2016 $30,000 $20,000 $10,000 $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 ($2) $1,160,443 ($18) 1/6/2011 3/30/2011 ($2) 9/30/2010 $30,588 $30,000 $0 $580,221 $580,222 $0 $290,111 $300,000 $290,000 $81,568 $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 6/29/2011 $360,445 5/31/2016 $30,000 3/23/2011 4/14/2016 ($580,221) 1/6/2011 ($9,889) 7/14/2010 ($2,660) ($10,000) 12/28/2015 ($2,691) ($3,595) 6/25/2015 9/28/2015 ($2,879) ($11,347) 3/26/2015 12/29/2014 4/28/2015 ($7,654) 9/29/2014 ($2) 6/28/2012 ($1) ($1) 6/29/2011 9/27/2012 ($1) 9/30/2010 3/25/2013 $45,056 Adjustment Date 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 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 portfolio data from servicer 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 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 $14,000 $0 $0 $3,917 Borrower’s Incentives $0 $0 $0 $0 $0 Lenders/ Investors Incentives $0 $6,000 $0 $0 $3,000 Servicers Incentives TARP Incentive Payments Continued on next page $7,000 $20,000 $0 $0 $6,917 Total TARP Incentive Payments 376 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 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 6/30/2016 CAP Adjustment Amount $20,000 ($37) ($73) ($25) $27,160 ($16) 3/26/2014 4/16/2014 6/26/2014 7/29/2014 9/29/2014 12/29/2014 3/26/2015 ($45,046) ($10,000) ($718) ($5,621) ($3,358) 2/25/2016 3/16/2016 3/28/2016 5/31/2016 6/27/2016 $117,629 $120,987 $126,608 $127,326 $137,326 $182,372 $196,908 ($20) ($14,536) 9/28/2015 12/28/2015 $196,928 ($15) 6/25/2015 $196,943 $197,007 $197,023 $169,863 $169,888 $169,961 $169,998 $149,998 $150,000 ($64) ($2) 2/13/2014 Adjusted CAP 4/28/2015 $150,000 Adjustment Date 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 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 $14,508 Lenders/ Investors Incentives $11,000 Servicers Incentives TARP Incentive Payments Continued on next page $36,508 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 377 Name of Institution Franklin Credit Management Corporation, Jersey City, NJ Date 9/11/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $27,510,000 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 6/30/2016 $9,573,670 $9,573,667 ($19,750,000) ($4,780,000) ($2,390,000) $2,973,670 12/30/2009 3/26/2010 7/14/2010 9/30/2010 ($42) ($15) ($25,724) $40,000 ($913) 6/27/2013 9/27/2013 12/23/2013 3/14/2014 3/26/2014 $5,197,102 $4,843,425 ($284,769) ($10,000) ($1,122,099) ($266,118) ($10,000) ($353,677) ($10,000) ($257,877) ($843,088) ($17,611) ($137,838) ($82,341) 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 5/31/2016 6/27/2016 $3,494,670 $3,577,011 $3,714,849 $3,732,460 $4,575,548 $4,833,425 $5,207,102 $5,473,220 $6,595,319 $6,605,319 $6,890,088 $7,647,284 ($7,073) ($757,196) 9/29/2014 $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 12/29/2014 ($10,778) ($110) 3/25/2013 ($21,410) ($29) 12/27/2012 6/26/2014 ($164) 9/27/2012 7/29/2014 ($58) 6/28/2012 $7,773,600 ($61) ($100,000) 6/29/2011 10/14/2011 $7,773,661 ($6) 3/30/2011 $7,773,667 ($3) ($1,800,000) 1/6/2011 2/16/2011 $6,600,000 $8,990,000 $13,770,000 $33,520,000 $6,010,000 10/2/2009 Adjusted CAP CAP Adjustment Amount Adjustment Date Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 $342,554 Borrower’s Incentives $658,318 Lenders/ Investors Incentives $743,024 Servicers Incentives TARP Incentive Payments Continued on next page $1,743,896 Total TARP Incentive Payments 378 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Purchase Purchase Purchase Purchase Purchase Name of Institution Franklin Savings, Cincinnati, OH 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 Date 9/30/2010 2/16/2016 1/13/2010 9/30/2010 5/14/2015 Transaction Type $260,000 $100,000 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications $0 $0 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications $1,700,000 N/A N/A N/A N/A N/A 3 6 3 6 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 6/30/2016 CAP Adjustment Amount ($1) ($19,778) 9/30/2010 ($8) ($96) ($191) 3/26/2014 6/26/2014 7/29/2014 ($63) ($232) 12/23/2013 $40,000 ($742) 6/27/2016 5/14/2015 ($159) ($1,242) 5/31/2016 2/25/2016 3/28/2016 ($2,660) ($7,597) 12/28/2015 ($2,691) ($3,595) 6/25/2015 9/28/2015 ($2,879) ($11,347) 3/26/2015 12/29/2014 4/28/2015 ($7,654) 9/29/2014 ($2) ($1) 6/28/2012 ($1) ($1) 6/29/2011 9/27/2012 $45,056 9/30/2010 3/25/2013 ($6) ($555,252) 6/29/2011 7/6/2012 ($8) 3/30/2011 6/28/2012 ($1) 1/6/2011 $480,000 ($140,000) 3/26/2010 7/14/2010 $10,000 ($2,446,075) 10/24/2013 2/16/2016 ($7) 12/27/2012 ($20) ($14) 9/27/2012 9/27/2013 ($83) 6/28/2012 6/27/2013 ($30) 6/29/2011 ($53) ($40) 3/30/2011 ($10,000) ($4) 1/6/2011 6/14/2013 ($4) 9/30/2010 3/25/2013 $765,945 Adjustment Date $40,000 $103,895 $104,637 $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 $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 Adjusted CAP 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 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 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 Reason for Adjustment Adjustment Details $1,000 $0 $3,833 $0 $1,750 Borrower’s Incentives $0 $0 $13,204 $0 $3,865 Lenders/ Investors Incentives $1,000 $0 $7,917 $0 $4,000 Servicers Incentives TARP Incentive Payments Continued on next page $2,000 $0 $24,954 $0 $9,615 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 379 Purchase Purchase Purchase Purchase Purchase Name of Institution GFA Federal Credit Union, Gardner, MA Glass City Federal Credit Union, Maumee, OH Glenview State Bank, Glenview, IL Golden Plains Credit Union, Garden City, KS Grafton Suburban Credit Union, North Grafton, MA Date 9/30/2010 9/23/2009 12/11/2009 12/16/2009 12/23/2009 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 $100,000 N/A N/A N/A N/A N/A 6 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 6/30/2016 CAP Adjustment Amount ($145,056) 9/30/2010 ($3) ($2) 6/29/2011 6/28/2012 ($1) ($34) ($406) ($807) ($267) ($275,124) $20,000 3/26/2014 6/26/2014 7/29/2014 9/29/2014 11/3/2014 1/22/2010 $1,250,000 ($979) 12/23/2013 1/22/2010 ($10,000) ($1) 9/30/2010 1/6/2011 ($725,265) ($74,722) 7/14/2010 1/25/2012 $760,000 3/26/2010 ($1) ($320,000) 1/22/2010 ($11) $20,000 2/17/2011 3/30/2011 ($290,111) 9/30/2010 6/29/2011 $90,111 7/14/2010 $30,000 $10,000 5/26/2010 3/26/2010 ($1,640,000) 3/26/2010 ($2) ($1) 6/27/2013 3/25/2013 9/27/2013 ($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 3/23/2011 $45,056 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 $0 $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 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 Termination of SPA Updated portfolio data from servicer Reason for Adjustment Adjustment Details $0 $0 $0 $4,000 $0 Borrower’s Incentives $0 $0 $0 $2,474 $0 Lenders/ Investors Incentives $0 $0 $0 $6,000 $0 Servicers Incentives TARP Incentive Payments Continued on next page $0 $0 $0 $12,474 $0 Total TARP Incentive Payments 380 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Name of Institution Great Lakes Credit Union, North Chicago, IL Date 10/14/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $570,000 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 6/30/2016 $580,206 $580,189 ($880,000) ($320,000) $180,222 ($1) ($1) ($8) ($6) ($17) ($3) ($11) ($4) 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 6/27/2013 ($1,485) ($7,883) 6/27/2016 ($71,077) 2/25/2016 ($11,620) ($20,061) 3/28/2016 ($23,268) 9/28/2015 12/28/2015 5/31/2016 ($85,402) ($19,002) 4/28/2015 6/25/2015 ($25,379) 3/26/2015 $574,325 ($607) ($64,898) 7/29/2014 9/29/2014 ($925) ($1,789) 6/26/2014 12/29/2014 $574,932 ($86) 3/26/2014 $244,250 $252,133 $263,753 $265,238 $336,315 $356,376 $379,644 $398,646 $484,048 $509,427 $576,721 $577,646 $577,732 $580,170 ($1) ($2,438) 9/27/2013 12/23/2013 $580,171 $580,175 $580,186 $580,212 $580,220 $580,221 $580,222 $400,000 $720,000 $1,600,000 $1,030,000 12/30/2009 Adjusted CAP CAP Adjustment Amount Adjustment Date Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 $32,754 Borrower’s Incentives $38,662 Lenders/ Investors Incentives $28,450 Servicers Incentives TARP Incentive Payments Continued on next page $99,866 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 381 Purchase Purchase Name of Institution Greater Nevada LLC dba Greater Nevada Mortgage, Carson City, NV Gregory Funding, LLC, Beaverton, OR Date 1/13/2010 7/14/2011 Transaction Type $770,000 $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 6/30/2016 ($7) 3/25/2013 ($43) $900,000 $100,000 ($9) $20,000 ($26) $50,000 $10,000 ($5) 1/13/2012 6/28/2012 8/16/2012 9/27/2012 10/16/2012 12/14/2012 12/27/2012 $130,000 $200,000 $200,000 7/14/2011 11/16/2011 ($20) $80,000 $420,000 ($10) ($4) $120,000 ($7,685) $10,000 5/16/2013 6/14/2013 6/27/2013 9/27/2013 11/14/2013 12/23/2013 3/14/2014 2/14/2013 3/25/2013 $120,000 1/16/2013 $1,036,580 ($47,567) $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 $1,067,819 $1,115,386 $1,120,511 $1,336,121 $1,346,394 ($31,239) 9/28/2015 $1,351,980 $1,352,737 5/31/2016 ($5,586) 6/25/2015 6/27/2016 ($757) 4/28/2015 $855,078 ($5,125) $497,659 3/26/2015 $856,850 3/28/2016 ($1,772) 12/29/2014 $866,963 $867,285 ($10,273) ($10,113) 9/29/2014 ($215,610) ($322) 7/29/2014 $868,260 2/25/2016 ($975) 6/26/2014 $868,751 $868,794 $870,298 $870,299 $870,301 $870,308 $870,324 $870,332 $870,333 $870,334 12/28/2015 ($491) 3/26/2014 ($1,504) ($2) 12/23/2013 ($10) 9/27/2012 12/27/2012 ($2) ($8) ($4) 6/29/2011 6/28/2012 ($1) ($1) 3/30/2011 6/27/2013 $870,310 ($1) 1/6/2011 9/27/2013 $870,320 $170,334 9/30/2010 $700,000 $9,450,000 $8,680,000 ($8,750,000) 7/14/2010 Adjusted CAP 3/26/2010 CAP Adjustment Amount Adjustment Date 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 Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 $993,882 $198,501 Borrower’s Incentives $1,035,141 $231,597 Lenders/ Investors Incentives $167,518 $127,019 Servicers Incentives TARP Incentive Payments Continued on next page $2,196,542 $557,117 Total TARP Incentive Payments 382 APPENDIX C I TRANSACTION DETAIL I JULY 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 6/30/2016 $550,000 ($469,266) $630,000 $740,000 ($2,389,111) $180,000 ($53,531) $750,000 $150,000 ($600,618) $560,000 ($358,730) 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 4/14/2016 5/16/2016 5/31/2016 6/16/2016 6/27/2016 ($41,229) 6/25/2015 $740,000 ($144,484) 4/28/2015 10/15/2015 ($37,405) 3/26/2015 ($408,264) $690,000 3/16/2015 $1,560,000 $60,000 1/15/2015 9/16/2015 ($122,632) 12/29/2014 9/28/2015 $260,000 12/16/2014 $40,000 $100,000 11/14/2014 $1,860,000 ($2,150) 9/29/2014 8/14/2015 $30,000 9/16/2014 7/16/2015 ($6,541) 6/26/2014 $90,000 ($3,396) 6/16/2014 7/29/2014 $30,000 4/16/2014 8/14/2014 ($274) $240,000 3/26/2014 CAP Adjustment Amount Adjustment Date $6,774,610 $7,133,340 $6,573,340 $7,173,958 $7,023,958 $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 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 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 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 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 JULY 27, 2016 383 Purchase Purchase Purchase Name of Institution Guaranty Bank, Saint Paul, MN Harleysville National Bank & Trust Company, Harleysville, PA Hartford Savings Bank, Hartford, WI Date 9/30/2010 10/28/2009 12/11/2009 Transaction Type $1,070,000 $100,000 $630,000 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 Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 6/30/2016 CAP Adjustment Amount ($1,070,000) ($742) 6/27/2016 ($2) ($2) ($18) ($14) ($37) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 ($24) ($4,502) ($1,487) ($180,152) ($67,752) ($898,515) 12/29/2014 3/26/2015 4/2/2015 ($2,267) 6/26/2014 7/29/2014 ($192) 3/26/2014 9/29/2014 ($3) ($5,463) 9/27/2013 6/27/2013 12/23/2013 ($9) 3/25/2013 ($6) $60,445 9/30/2010 12/27/2012 $800,000 ($360,000) 7/14/2010 1/22/2010 3/26/2010 $30,000 4/21/2010 ($159) ($1,242) 5/31/2016 2/25/2016 3/28/2016 ($2,660) ($7,597) 12/28/2015 ($2,691) ($3,595) 6/25/2015 9/28/2015 ($2,879) ($11,347) ($7,654) 12/29/2014 3/26/2015 ($63) 9/29/2014 4/28/2015 ($96) ($191) ($8) 3/26/2014 7/29/2014 ($232) 12/23/2013 6/26/2014 ($2) 6/28/2012 ($1) ($1) 6/29/2011 9/27/2012 ($1) 9/30/2010 3/25/2013 $45,056 Adjustment Date $0 $898,515 $966,267 $1,146,419 $1,147,906 $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 $1,100,000 $1,460,000 $660,000 $0 $103,895 $104,637 $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 due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment 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 due to quarterly assessment and reallocation 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 384 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Purchase Purchase Purchase Name of Institution Heartland Bank & Trust Company, Bloomington, IL Hillsdale County National Bank, Hillsdale, MI Home Financing Center, Inc, Coral Gables, FL Date 5/15/2014 11/18/2009 11/25/2009 Transaction Type $0 $1,670,000 $230,000 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 6/30/2016 CAP Adjustment Amount ($24) ($131) 12/29/2014 3/26/2015 4/28/2015 ($33) ($6) ($21) ($8) 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 ($3,907) ($30,583) ($18,270) 3/28/2016 5/31/2016 6/27/2016 ($230,000) ($179,660) 2/25/2016 4/21/2010 ($44,706) ($33,425) 6/25/2015 ($34,106) ($152,138) 4/28/2015 9/28/2015 ($55,020) 3/26/2015 12/28/2015 ($1,311) ($144,011) 9/29/2014 12/29/2014 ($1,996) ($3,965) 6/26/2014 7/29/2014 ($169) ($12) 6/29/2011 3/26/2014 ($16) 3/30/2011 ($3) ($2) 1/6/2011 ($4,797) ($1) 9/30/2010 9/27/2013 $160,445 7/14/2010 12/23/2013 $330,000 ($1,080,000) 3/26/2010 ($1,111) $80,000 6/27/2016 1/22/2010 ($238) ($1,860) 5/31/2016 2/25/2016 3/28/2016 ($1,938) ($11,380) 12/28/2015 ($131) $80,001 9/29/2014 9/28/2015 ($1) 6/26/2014 ($56) $20,556 5/15/2014 6/25/2015 $90,000 Adjustment Date $0 $452,279 $470,549 $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 $173,687 $174,798 $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 Updated due to quarterly assessment and reallocation 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 Updated due to quarterly assessment and reallocation 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 $100,550 $28,439 Borrower’s Incentives $0 $61,159 $40,315 Lenders/ Investors Incentives $0 $67,400 $7,626 Servicers Incentives TARP Incentive Payments Continued on next page $0 $229,109 $76,379 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 385 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 N/A N/A 3 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 6/30/2016 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 $40,000 ($4) ($120,000) ($2) ($2,620) ($92) ($1,088) 5/16/2013 6/27/2013 7/16/2013 9/27/2013 12/23/2013 3/26/2014 6/26/2014 ($15,131) $10,000 $330,000 ($123,685) 6/16/2016 6/27/2016 ($14,867) 3/28/2016 ($124,921) $430,000 3/16/2016 5/31/2016 ($189,556) 2/25/2016 5/16/2016 $30,000 ($64,113) 9/28/2015 12/28/2015 ($76,282) 8/14/2015 12/16/2015 $20,000 $350,000 7/16/2015 $70,000 ($22,485) 6/25/2015 4/28/2015 6/16/2015 ($59,638) 3/26/2015 ($40,233) $200,000 4/16/2013 12/29/2014 ($9) 3/25/2013 ($332) $510,000 2/14/2013 9/29/2014 ($155,061,221) 10/19/2011 ($2,161) ($2,625) 6/29/2011 ($290,000) ($400,000) 5/13/2011 7/29/2014 ($278) 3/30/2011 9/16/2014 ($400,000) 3/16/2011 $842,781 $966,466 $636,466 $761,387 $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 ($233) ($1,900,000) 1/6/2011 2/16/2011 $164,073,590 ($314,900,000) 12/15/2010 $478,973,590 $556,100,000 $549,400,000 $622,410,000 $639,850,000 $494,030,000 $447,300,000 ($77,126,410) $46,730,000 6/12/2009 Adjusted CAP 9/30/2010 $128,300,000 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 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 $21,510 $169,858 Borrower’s Incentives $33,072 $2,440,768 Lenders/ Investors Incentives $16,594 $3,698,607 Servicers Incentives TARP Incentive Payments Continued on next page $71,176 $6,309,233 Total TARP Incentive Payments 386 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Purchase Purchase Name of Institution HomEq Servicing, North Highlands, CA HomeStar Bank & Financial Services, Manteno, IL Date 8/5/2009 12/11/2009 Transaction Type $674,000,000 $310,000 Financial Instrument for Home Loan Modifications N/A N/A 6 13 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 6/30/2016 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) ($12,728) ($20,000) ($2,148) ($8,137) ($3,071) ($1,101) ($10,000) ($1,858,220) ($360,860,500) $20,000 $820,000 ($350,000) 8/16/2012 9/27/2012 12/14/2012 12/27/2012 3/25/2013 6/27/2013 9/27/2013 11/14/2013 12/23/2013 2/27/2014 1/22/2010 3/26/2010 7/14/2010 ($1) ($1) ($13) ($10) ($856,986) 1/6/2011 $70,334 ($430,000) 6/28/2012 9/30/2010 ($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 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 387 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 N/A 14 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 6/30/2016 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 388 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Purchase Purchase Name of Institution Horicon Bank, Horicon, WI Horizon Bank, NA, Michigan City, IN Date 9/2/2009 12/16/2009 Transaction Type $560,000 $700,000 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 6/30/2016 CAP Adjustment Amount ($1,110,000) $100,000 ($9,889) ($3) 5/12/2010 7/14/2010 9/30/2010 9/30/2010 6/29/2011 ($2) 6/27/2013 ($1) 3/25/2013 ($2) ($2) ($23) ($17) ($1,450,512) 1/6/2011 $850,556 $1,740,000 ($1,870,000) 3/26/2010 7/14/2010 9/30/2010 ($3,131) $30,000 6/27/2016 1/22/2010 ($670) ($5,241) ($32,056) 2/25/2016 5/31/2016 ($11,225) 3/28/2016 ($15,167) 9/28/2015 12/28/2015 ($12,146) 3/26/2015 ($47,875) ($32,297) 12/29/2014 ($11,354) ($267) 9/29/2014 4/28/2015 ($807) 7/29/2014 6/25/2015 ($34) ($406) 6/26/2014 12/23/2013 3/26/2014 ($979) 9/27/2013 ($1) ($4) 12/27/2012 ($2) $1,260,000 3/26/2010 ($7) ($1,680,000) 12/30/2009 6/28/2012 $1,040,000 10/2/2009 9/27/2012 $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 $116,436 $119,567 $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 Updated due to quarterly assessment and reallocation 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 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 389 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 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $870,000 $4,230,000 N/A N/A 6 6 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 6/30/2016 CAP Adjustment Amount ($1,560,000) 3/26/2010 7/14/2010 $5,852,780 ($1,470,000) 1/22/2010 ($10,000) $250,000 ($10,000) 9/30/2009 12/30/2009 3/26/2010 $170,334 ($1) ($12) ($9) ($821,722) 3/30/2011 6/28/2012 9/14/2012 1/6/2011 6/29/2011 ($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 $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 390 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Name of Institution IC Federal Credit Union, Fitchburg, MA Date 10/23/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $760,000 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 6/30/2016 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 ($11,558) ($3,173) ($374,717) ($140,949) ($534,653) ($128,282) ($172,975) ($128,015) ($381,987) ($8,288) ($64,892) ($39,707) 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 5/31/2016 6/27/2016 ($4,837) ($9,607) 6/26/2014 3/26/2014 7/29/2014 ($410) 12/23/2013 ($7) ($770,000) 7/14/2010 9/27/2013 ($760,000) $2,630,000 5/12/2010 1/22/2010 3/26/2010 $40,000 Adjustment Date $461,646 $501,353 $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 Updated due to quarterly assessment and reallocation 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 $42,333 Borrower’s Incentives $67,575 Lenders/ Investors Incentives $42,200 Servicers Incentives TARP Incentive Payments Continued on next page $152,108 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 391 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 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 6/30/2016 CAP Adjustment Amount ($226) ($18,852) ($7,136) $259,548 ($35) ($1,297) 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 ($923) ($9,729) ($5,812) 3/28/2016 5/31/2016 6/27/2016 ($6,174) ($626) 7/29/2014 ($36,778) ($314) 6/26/2014 2/25/2016 ($26) 3/26/2014 12/28/2015 ($1) ($747) 6/27/2013 ($3) 3/25/2013 12/23/2013 ($6) ($1) 9/27/2012 12/27/2012 ($3) ($2) ($9,889) 9/30/2010 6/29/2011 $150,000 7/14/2010 6/28/2012 $14,480,000 ($24,200,000) 5/26/2010 1/22/2010 3/26/2010 $440,000 Adjustment Date $460,968 $466,780 $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 Updated due to quarterly assessment and reallocation 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 $125,181 Borrower’s Incentives $35,821 Lenders/ Investors Incentives $33,025 Servicers Incentives TARP Incentive Payments Continued on next page $194,028 Total TARP Incentive Payments 392 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 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 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 6/30/2016 $535,152 $535,137 ($364,833) $100,000 ($1) ($1) ($7) ($6) ($15) ($3) ($10) ($4) 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 ($7,166) ($73,376) 2/25/2016 6/27/2016 ($25,693) ($1,533) ($34,717) 9/28/2015 12/28/2015 ($11,996) ($25,989) 6/25/2015 3/28/2016 ($109,586) 4/28/2015 5/31/2016 ($27,803) 3/26/2015 $529,410 ($610) ($73,927) 9/29/2014 7/29/2014 12/29/2014 $530,020 ($930) ($1,848) 6/26/2014 $137,624 $144,790 $156,786 $158,319 $231,695 $257,388 $292,105 $318,094 $427,680 $455,483 $531,868 $532,798 ($79) 3/26/2014 $532,877 ($2,242) $535,119 $535,120 $535,124 $535,134 $535,158 $535,165 $535,166 $535,167 $600,000 12/23/2013 ($1) $435,167 $200,000 9/30/2010 9/27/2013 $800,000 $370,000 7/14/2010 $230,000 ($730,000) 3/26/2010 Adjusted CAP CAP Adjustment Amount Adjustment Date Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 393 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 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 6/30/2016 ($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) ($2,226,283) ($837,269) ($9,967,882) 4/2/2015 ($28,014) 6/26/2014 3/26/2015 ($2,373) 3/26/2014 12/29/2014 ($67,516) 12/23/2013 ($55,640) ($60,000) 11/14/2013 ($18,379) ($40) 7/16/2013 9/27/2013 7/29/2014 ($10,000) 6/27/2013 9/29/2014 ($112) 3/25/2013 ($78) $12,474,782 $100,000 9/30/2010 12/27/2012 $15,600,000 ($12,660,000) 7/14/2010 $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 394 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 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 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 6/30/2016 $1,006,580,000 ($1,934,230,000) $72,400,000 $215,625,536 ($3,636) 3/26/2010 7/14/2010 9/30/2010 9/30/2010 1/6/2011 ($3,999) ($200,000) $122,700,000 ($34,606) $600,000 ($400,000) ($100,000) $200,000 $519,211,309 ($2,800,000) ($100,000) 3/30/2011 ($100,000) $1,178,180,000 12/30/2009 3/16/2011 ($5,519) ($14,850,000) 6/27/2016 9/30/2009 ($1,180) ($9,240) 3/28/2016 5/31/2016 ($56,514) 2/25/2016 $221,220 ($26,739) ($19,789) 9/28/2015 ($84,403) ($20,017) 4/28/2015 6/25/2015 12/28/2015 $247,959 ($21,414) 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 $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 $128,978 $134,497 $143,737 $144,917 $201,431 $267,976 $352,379 $373,793 3/26/2015 $430,732 ($470) ($56,939) 9/29/2014 12/29/2014 $431,202 ($1,423) 7/29/2014 $432,625 $433,341 $433,402 ($716) ($61) $435,129 $435,130 $435,133 $435,141 $435,159 $435,165 $435,166 6/26/2014 ($1,727) 3/26/2014 ($8) 3/25/2013 12/23/2013 ($2) ($3) ($12) 9/27/2012 12/27/2012 ($1) ($6) ($4) 6/29/2011 6/28/2012 6/27/2013 $435,143 ($1) 3/30/2011 9/27/2013 $435,155 ($1) 1/6/2011 $435,167 $135,167 9/30/2010 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 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 Updated due to quarterly assessment and reallocation 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 $579,834,951 $19,431 Borrower’s Incentives $1,385,233,016 $0 Lenders/ Investors Incentives $510,992,287 $17,124 Servicers Incentives TARP Incentive Payments Continued on next page $2,476,060,254 $36,555 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 395 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 6/30/2016 ($100,000) ($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) 2/16/2012 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 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 CAP Adjustment Amount Adjustment Date $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 $3,862,294,604 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 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 396 APPENDIX C I TRANSACTION DETAIL I JULY 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 6/30/2016 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) ($10,440,000) ($6,730,000) ($9,933,223) ($12,340,000) ($2,835,363) 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 4/14/2016 5/16/2016 5/31/2016 6/16/2016 6/27/2016 $3,943,497,685 $3,946,333,048 $3,958,673,048 $3,968,606,271 $3,975,336,271 $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 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 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 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 397 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 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 6/30/2016 CAP Adjustment Amount ($10,000) $130,000 ($50,000) ($20,000) ($155) $2,240,000 2/14/2013 4/16/2013 5/16/2013 6/14/2013 7/16/2013 12/23/2013 3/14/2014 ($296,094) ($100,000) ($20,000) 12/29/2014 1/15/2015 2/13/2015 ($20,000) ($647,986) $170,000 ($260,000) $460,000 ($546,139) $50,000 ($1,600,422) ($1,350,000) $42,705 ($50,000) 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 4/14/2016 $77,867 ($160,000) 8/14/2015 6/27/2016 ($30,000) 7/16/2015 ($50,000) ($505,871) 6/25/2015 $285,059 ($240,000) 6/16/2015 5/16/2016 $3,367,858 ($430,000) 5/14/2015 5/31/2016 $4,015,844 ($2,372,693) 4/28/2015 $596,928 $519,061 $234,002 $284,002 $334,002 $291,297 $1,641,297 $3,241,719 $3,191,719 $3,737,858 $3,277,858 $3,537,858 $4,035,844 $4,195,844 $4,225,844 $4,731,715 $4,971,715 $5,401,715 $7,774,408 $6,360,000 4/16/2015 $1,414,408 $1,506,995 $1,526,995 $1,626,995 $1,923,089 ($92,587) ($50,000) 12/16/2014 $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 3/26/2015 ($2,954) ($340,000) 9/29/2014 11/14/2014 ($8,932) ($40,000) 7/29/2014 9/16/2014 ($373) ($10,000) 1/16/2013 ($4,497) ($10,000) 12/14/2012 6/26/2014 $70,000 11/15/2012 3/26/2014 $30,000 Adjustment Date 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 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 $28,482 Borrower’s Incentives $29,186 Lenders/ Investors Incentives $30,839 Servicers Incentives TARP Incentive Payments Continued on next page $88,507 Total TARP Incentive Payments 398 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 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 N/A N/A N/A 3 6 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 6/30/2016 CAP Adjustment Amount ($807) ($267) ($26,057) ($9,806) ($17,748) ($4,963) ($6,649) ($4,972) ($23,766) 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 $50,000 3/26/2010 $35,167 9/16/2014 $20,000 $40,000 ($4) ($424,504) 6/28/2012 8/23/2012 6/16/2014 ($1) ($6) 3/30/2011 1/6/2011 6/29/2011 ($1) 9/30/2010 ($30,000) $130,000 12/30/2009 7/14/2010 ($2,382) $150,000 6/27/2016 9/30/2009 ($342) ($406) 6/26/2014 ($3,960) ($34) 3/26/2014 5/31/2016 ($979) 12/23/2013 3/28/2016 ($2) ($1) 6/27/2013 3/25/2013 9/27/2013 ($1) ($4) 12/27/2012 ($2) ($7) ($3) 6/29/2011 6/28/2012 $90,111 9/30/2010 9/27/2012 $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 $186,953 $189,335 $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 Updated due to quarterly assessment and reallocation 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 $24,712 Borrower’s Incentives $232 $3,651 $19,484 Lenders/ Investors Incentives $1,000 $4,000 $28,196 Servicers Incentives TARP Incentive Payments Continued on next page $2,149 $10,651 $72,392 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 399 Name of Institution LenderLive Network, Inc, Glendale, CO Date 1/16/2014 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 6/30/2016 CAP Adjustment Amount ($2) $20,000 $80,000 ($236) $140,000 ($1,069) $60,000 ($438) ($30,607) ($11,543) 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 ($45,568) $10,000 1/16/2014 ($27,179) 3/28/2016 6/27/2016 ($5,780) 3/16/2016 ($70,000) $20,000 2/25/2016 ($45,497) ($251,560) 2/16/2016 4/14/2016 $360,000 12/28/2015 5/31/2016 $10,000 ($13,791) 11/16/2015 $10,000 ($16,383) 9/28/2015 6/25/2015 7/16/2015 ($10,869) 4/28/2015 $100,000 Adjustment Date $279,478 $306,657 $352,154 $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 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 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 $38,500 Borrower’s Incentives $69,770 Lenders/ Investors Incentives $8,000 Servicers Incentives TARP Incentive Payments Continued on next page $116,270 Total TARP Incentive Payments 400 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Purchase Purchase Name of Institution Liberty Bank and Trust Co, New Orleans, LA Liberty Savings Bank, FSB, Wilmington OH Date 9/30/2010 12/16/2014 Transaction Type $1,000,000 $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 6/30/2016 CAP Adjustment Amount ($2) ($23) ($17) ($48) ($8) ($30) ($11) ($4) ($6,958) ($245) 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 ($2,887) ($2) 9/30/2010 ($80,659) ($107,746) ($79,741) ($227,724) ($4,757) ($37,231) ($22,241) 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 5/31/2016 6/27/2016 $10,000 $588,459 ($340,104) 4/28/2015 12/16/2014 $696,205 ($86,288) 3/26/2015 $10,000 $216,765 $239,006 $276,237 $280,994 $508,718 $776,864 $1,116,968 $1,203,256 $1,432,693 ($1,894) ($229,437) $1,434,587 9/29/2014 7/29/2014 $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 Adjusted CAP 12/29/2014 ($5,734) 6/26/2014 $450,556 Adjustment Date 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 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 JULY 27, 2016 401 Name of Institution Litton Loan Servicing, LP, Houston, TX Date 8/12/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $774,900,000 N/A 12 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 6/30/2016 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 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 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 Reason for Adjustment Adjustment Details $13,441,220 Borrower’s Incentives $35,353,126 Lenders/ Investors Incentives $27,530,414 Servicers Incentives TARP Incentive Payments Continued on next page $76,324,760 Total TARP Incentive Payments 402 APPENDIX C I TRANSACTION DETAIL I JULY 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 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 6/30/2016 CAP Adjustment Amount ($35) ($26) ($70) ($12) ($45) ($17) ($6) ($9,932) ($346) 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 $1,294,139 $1,182,955 ($116,051) ($350,852) ($83,233) ($111,184) ($82,285) ($266,057) ($5,558) ($47,268) ($27,327) 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 5/31/2016 6/27/2016 $754,460 $781,787 $829,055 $834,613 $1,100,670 $1,377,372 $1,728,224 $1,844,275 $2,150,450 ($2,682) ($306,175) 9/29/2014 $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 12/29/2014 ($4,087) ($4) 3/30/2011 ($8,119) ($3) 1/6/2011 6/26/2014 $75,834 9/30/2010 7/29/2014 $50,000 $1,310,000 7/14/2010 1/22/2010 3/26/2010 $40,000 Adjustment Date Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 $157,484 Borrower’s Incentives $65,556 Lenders/ Investors Incentives $66,088 Servicers Incentives TARP Incentive Payments Continued on next page $289,127 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 403 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 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 6/30/2016 CAP Adjustment Amount $140,000 $230,716 $688,320 $2,310,000 6/16/2014 6/26/2014 7/29/2014 8/14/2014 $1,180,000 ($2,303,668) ($44,805) 2/16/2016 2/25/2016 3/28/2016 $1,299,823 ($112,429) 12/28/2015 6/27/2016 $20,000 12/16/2015 $10,000 $830,000 9/28/2015 11/16/2015 $448,012 $4,943,712 6/25/2015 5/31/2016 $24,561,405 ($253,976) $2,727,797 4/28/2015 5/16/2016 $19,617,693 $3,793,179 3/26/2015 $7,433,965 $25,888,338 $24,588,515 $24,140,503 $24,130,503 $24,175,308 $26,478,976 $25,298,976 $25,411,405 $25,391,405 $16,889,896 $17,143,872 $13,350,693 $60,000 $5,916,728 12/29/2014 $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 11/14/2014 $20,000 $80,000 5/15/2014 $1,468,864 $20,000 4/16/2014 9/29/2014 $125,146 3/26/2014 9/16/2014 $1,280,000 ($7) 6/27/2013 2/13/2014 ($20) 3/25/2013 ($3) ($5) 12/27/2012 ($4,381) ($30) 9/27/2012 9/27/2013 ($11) 6/28/2012 12/23/2013 ($1) ($11) 1/6/2011 3/30/2011 ($1) 9/30/2010 6/29/2011 $315,389 Adjustment Date 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 Transfer of cap due 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 $1,797,396 Borrower’s Incentives $1,332 Lenders/ Investors Incentives $1,858,053 Servicers Incentives TARP Incentive Payments Continued on next page $3,656,781 Total TARP Incentive Payments 404 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Purchase Purchase Purchase Name of Institution Magna Bank, Germantown, TN Mainstreet Credit Union, Lexena, KS Marix Servicing, LLC, Phoenix, AZ Date 9/30/2010 9/30/2010 11/25/2009 Transaction Type $1,400,000 $500,000 $20,360,000 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 6/30/2016 CAP Adjustment Amount ($3) ($33) ($25) ($68) ($11) ($44) ($16) ($6) ($9,947) ($350) 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 ($4,127) ($3) 9/30/2010 ($325,557) ($6,800) 2/25/2016 3/28/2016 ($1) $100,000 $300,000 ($1,500,000) 7/14/2011 8/16/2011 1/13/2012 3/16/2011 ($154) $5,700,000 1/6/2011 6/29/2011 ($1) 9/30/2010 $900,000 $1,357,168 9/30/2010 $300,000 $200,000 8/13/2010 6/16/2011 $800,000 7/14/2010 5/13/2011 ($1,160,000) 6/16/2010 ($6) $1,030,000 3/26/2010 $7,300,000 ($17,880,000) 1/22/2010 3/30/2011 $950,000 3/9/2011 4/13/2011 ($725,277) 1/6/2011 $225,278 ($113,998) 12/28/2015 9/30/2010 ($154,035) 9/28/2015 ($53,226) ($115,312) 6/25/2015 ($31,796) ($486,219) 4/28/2015 5/31/2016 ($123,358) 3/26/2015 6/27/2016 ($2,708) ($328,007) 9/29/2014 7/29/2014 12/29/2014 ($8,198) 6/26/2014 $630,778 Adjustment Date $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 $0 $725,277 $725,278 $266,931 $298,727 $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 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 Termination of SPA Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 $352,196 $0 $0 Borrower’s Incentives $970,197 $0 $0 Lenders/ Investors Incentives $839,633 $0 $0 Servicers Incentives TARP Incentive Payments Continued on next page $2,162,025 $0 $0 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 405 Purchase Purchase Name of Institution Marsh Associates, Inc., Charlotte NC Members Mortgage Company, Inc, Woburn, MA Date 9/30/2010 10/28/2009 Transaction Type $100,000 $510,000 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 6/30/2016 ($61) ($10,000) 3/25/2013 4/16/2013 ($161,522) ($215,764) ($159,682) ($544,595) ($11,376) 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 ($60,000) 10/15/2013 ($510,000) ($1) 3/25/2013 4/21/2010 ($1) ($1) 6/28/2012 9/27/2012 ($1) ($681,066) 4/28/2015 $45,056 ($172,793) 3/26/2015 9/30/2010 ($459,453) 12/29/2014 6/29/2011 ($3,793) ($89,037) ($11,483) 7/29/2014 9/29/2014 ($53,189) ($5,781) 6/26/2014 5/31/2016 ($490) 3/26/2014 6/27/2016 ($8) ($13,934) 9/27/2013 7/16/2013 12/23/2013 ($23) ($20,000) 6/27/2013 ($30,000) ($490,000) 3/14/2013 ($10,000) ($100,000) 2/14/2013 5/16/2013 ($15) 12/27/2012 6/14/2013 $170,000 11/15/2012 $6,916,866 ($103) ($90,000) 8/16/2012 ($1,020,000) ($38) 6/28/2012 9/27/2012 ($8,350,000) 6/14/2012 10/16/2012 $6,916,969 ($1,300,000) 4/16/2012 $0 $85,052 $145,052 $145,053 $145,054 $145,055 $145,056 $2,822,801 $2,875,990 $2,965,027 $2,976,403 $3,520,998 $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 $7,006,969 $7,007,007 $15,357,007 $16,657,007 ($2,100,000) 2/16/2012 Adjusted CAP CAP Adjustment Amount Adjustment Date 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 Updated due to quarterly assessment and reallocation 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 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 Reason for Adjustment Adjustment Details $0 $9,688 Borrower’s Incentives $0 $0 Lenders/ Investors Incentives $0 $10,649 Servicers Incentives TARP Incentive Payments Continued on next page $0 $20,337 Total TARP Incentive Payments 406 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Purchase Purchase Name of Institution Metropolitan National Bank, Little Rock, AR Mid America Mortgage, Inc. (Schmidt Mortgage Company), Rocky River, OH Date 9/11/2009 9/30/2010 Transaction Type Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $100,000 $280,000 N/A 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 6/30/2016 CAP Adjustment Amount 12/30/2009 $100,000 $620,000 10/2/2009 ($159) ($1,242) ($742) 5/31/2016 6/27/2016 2/25/2016 3/28/2016 ($2,660) ($7,597) 12/28/2015 ($2,691) ($3,595) 6/25/2015 9/28/2015 ($2,879) 12/29/2014 ($11,347) ($7,654) 9/29/2014 3/26/2015 ($63) 7/29/2014 4/28/2015 ($96) ($191) 6/26/2014 ($8) 6/28/2012 ($232) ($1) 6/29/2011 3/26/2014 ($1) 9/30/2010 12/23/2013 $45,056 1/26/2011 ($2) ($435,166) 1/6/2011 ($1) ($1) 9/30/2010 9/27/2012 $35,167 7/14/2010 3/25/2013 ($670,000) 3/26/2010 $70,000 Adjustment Date $103,895 $104,637 $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 Adjusted CAP Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 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 JULY 27, 2016 407 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 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 6/30/2016 CAP Adjustment Amount ($679,405) $27,080,000 $8,250,000 4/28/2015 5/14/2015 6/16/2015 ($19,778) 7/14/2010 9/30/2010 ($1) $300,000 6/27/2016 ($1) ($8) ($580,212) 1/6/2011 ($15,808) $6,140,240 5/31/2016 $3,320,000 ($240,368) 3/26/2015 4/14/2016 $75,614,324 12/29/2014 ($80,000) ($9,245) 9/29/2014 3/28/2016 $30,892,185 7/29/2014 ($8,220,532) ($95,352) 6/26/2014 2/25/2016 ($8,934) 3/26/2014 $12,428,293 ($280,061) 12/23/2013 12/28/2015 ($199) 9/27/2013 $2,100,000 ($593) 6/27/2013 12/16/2015 ($1,729) 3/25/2013 $34,217,510 ($507) 12/27/2012 9/28/2015 ($3,170) 9/27/2012 ($87,379) ($263,550,000) 7/27/2012 $13,920,000 $294,540,000 7/16/2012 8/14/2015 ($797) 6/28/2012 6/25/2015 ($139) ($1,223) 1/6/2011 6/29/2011 ($125) 9/30/2010 3/30/2011 $49,915,806 Adjustment Date 3/30/2011 6/29/2011 7/14/2011 $0 $580,212 $580,220 $580,221 $580,222 $600,000 $328,642,792 $322,502,552 $322,518,360 $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 $154,905,162 $124,012,977 $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 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 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 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 $36,696,431 Borrower’s Incentives $0 $3,130,409 Lenders/ Investors Incentives $0 $38,382,414 Servicers Incentives TARP Incentive Payments Continued on next page $0 $78,209,254 Total TARP Incentive Payments 408 APPENDIX C I TRANSACTION DETAIL I JULY 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 6/30/2016 ($4) 6/27/2013 ($1,691) ($13,238) ($7,908) 3/28/2016 5/31/2016 6/27/2016 ($80,972) 2/25/2016 $273,682 ($38,312) ($28,353) ($28,680) 6/25/2015 9/28/2015 ($120,932) 4/28/2015 12/28/2015 $311,994 ($30,682) $141,520 $149,428 $162,666 $164,357 $245,329 $340,674 $461,606 $492,288 3/26/2015 $573,870 ($673) ($81,582) 9/29/2014 12/29/2014 $574,543 ($2,039) 7/29/2014 $576,582 ($1,027) $577,609 $577,696 $580,170 $580,171 $580,175 $580,186 $580,212 $580,220 $580,221 6/26/2014 ($87) ($11) 3/25/2013 3/26/2014 ($3) ($1) ($17) 9/27/2012 12/27/2012 ($2,474) ($8) ($6) 6/29/2011 6/28/2012 9/27/2013 $580,189 ($1) 3/30/2011 12/23/2013 $580,206 ($1) 1/6/2011 $580,222 $180,222 9/30/2010 Adjusted CAP CAP Adjustment Amount Adjustment Date Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 JULY 27, 2016 409 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 N/A N/A 5 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 6/30/2016 CAP Adjustment Amount $125,278 ($1) 9/30/2010 3/30/2011 ($5) ($149) 12/23/2013 ($34) ($20,077,503) 3/30/2011 5/26/2011 $54,105,702 ($37) ($29,400,000) 1/6/2011 3/16/2011 $54,105,739 ($8,194,261) $4,628,165 $24,705,668 $24,705,702 $62,300,000 $84,880,000 $66,520,000 9/30/2010 12/30/2009 $42,010,000 $18,360,000 $24,510,000 9/30/2009 $982,339 ($22,580,000) $18,530,000 6/27/2016 $991,179 $985,645 7/14/2010 ($3,306) 5/31/2016 $991,886 $1,025,609 $1,003,395 $988,102 $990,138 $992,968 $993,848 $772,690 $772,697 $772,716 $772,780 $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 ($707) ($5,534) 3/28/2016 ($33,723) 2/25/2016 4/28/2015 $22,214 ($2,830) 3/26/2015 12/28/2015 ($880) 12/29/2014 ($2,036) $221,158 9/29/2014 $15,293 ($7) 7/29/2014 6/25/2015 ($19) 6/26/2014 9/28/2015 ($64) 3/26/2014 ($1) $47,663 9/27/2012 3/25/2013 ($4) ($180,000) 3/26/2010 7/14/2010 ($1) ($6,340,000) 12/30/2009 6/29/2011 $6,750,000 9/30/2009 6/28/2012 ($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 Updated due to quarterly assessment and reallocation 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 $162,358 Borrower’s Incentives $2,305,003 $297,563 Lenders/ Investors Incentives $1,977,321 $141,981 Servicers Incentives TARP Incentive Payments Continued on next page $4,628,165 $601,902 Total TARP Incentive Payments 410 APPENDIX C I TRANSACTION DETAIL I JULY 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 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 6/30/2016 CAP Adjustment Amount ($1,379,506) ($322,597) ($416,164) ($295,000) ($988,991) ($20,369) ($148,441) ($84,458) ($2,900,000) 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 5/31/2016 6/27/2016 12/30/2009 ($260,000) 3/9/2011 $6,042 9/30/2009 $80,250,000 6/12/2009 $67,250,000 ($85,900,000) $100,000 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) ($376,129) 3/26/2010 ($1,009,361) ($35,751) 12/23/2013 3/26/2015 ($21) 9/27/2013 12/29/2014 ($60) 6/27/2013 ($9,490) ($162) 3/25/2013 ($28,986) ($43) 12/27/2012 7/29/2014 ($256) 9/27/2012 9/29/2014 ($94) 6/28/2012 ($1,246) ($129) 6/29/2011 ($14,660) ($14) 3/26/2014 $8,558,268 ($12) 1/6/2011 3/30/2011 6/26/2014 $8,558,280 $2,658,280 9/30/2010 3/26/2010 7/14/2010 8/13/2010 $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 $3,426,340 $3,510,798 $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 $5,900,000 $11,630,000 $2,800,000 $8,830,000 ($5,730,000) 12/30/2009 $5,990,000 3/26/2010 $2,840,000 9/30/2009 Adjusted CAP 7/14/2010 $1,780,000 Adjustment Date 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 Updated due to quarterly assessment and reallocation 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 $258,469,583 $9,917 $0 $439,113 Borrower’s Incentives $420,157,858 $0 $0 $505,970 Lenders/ Investors Incentives $161,795,481 $2,917 $0 $502,021 Servicers Incentives TARP Incentive Payments Continued on next page $840,422,922 $12,833 $0 $1,447,104 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 411 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 6/30/2016 $350,101,486 $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 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 $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 $316,300,000 $2,900,000 9/30/2010 Adjusted CAP CAP Adjustment Amount 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 Transfer of cap due 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 Updated portfolio data from servicer/additional program initial cap Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 412 APPENDIX C I TRANSACTION DETAIL I JULY 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 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 6/30/2016 ($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) ($120,000) $1,360,000 ($9,332,357) ($190,000) ($1,088,825) $10,000 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 4/14/2016 5/16/2016 5/31/2016 6/16/2016 6/27/2016 12/16/2013 $10,000 $4,250,000 8/14/2014 5/15/2014 ($917,451) $47,000,000 7/29/2014 CAP Adjustment Amount Adjustment Date $20,000 $10,000 $2,083,959,356 $2,085,048,181 $2,085,238,181 $2,094,570,538 $2,093,210,538 $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 $1,149,334,396 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 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 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 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 JULY 27, 2016 413 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 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 6/30/2016 CAP Adjustment Amount ($44,880,000) $1,071,505 ($23) ($26) ($238) ($145) ($374) ($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) ($38,160) ($18,454) Adjustment Date 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 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 5/31/2016 6/27/2016 $17,201,697 $17,220,151 $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 Updated due to quarterly assessment and reallocation 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 $1,879,485 Borrower’s Incentives $3,579,626 Lenders/ Investors Incentives $2,166,089 Servicers Incentives TARP Incentive Payments Continued on next page $7,625,200 Total TARP Incentive Payments 414 APPENDIX C I TRANSACTION DETAIL I JULY 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 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 6/30/2016 $13,130,000 $5,720,000 ($2,857,812) 6/16/2015 6/25/2015 $4,050,000 ($7,677,850) $4,570,000 ($4,563,638) 6/16/2016 6/27/2016 $7,800,000 4/14/2016 5/16/2016 ($758,592) 3/28/2016 5/31/2016 $19,990,000 $3,030,000 1/14/2016 3/16/2016 ($2,856,501) 12/28/2015 $4,770,000 $1,410,000 12/16/2015 ($13,405,332) ($300,000) 11/16/2015 2/16/2016 $680,000 10/15/2015 2/25/2016 $1,280,000 ($3,708,330) 9/16/2015 8/14/2015 9/28/2015 ($2,810,000) 7/16/2015 $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 $83,913,005 $88,476,643 $83,906,643 $91,584,493 $87,534,493 $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 $67,174,918 $70,883,248 $69,603,248 $72,413,248 $59,283,248 $62,141,060 $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 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 Transfer of cap due 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 $5,141,593 Borrower’s Incentives $9,735,963 Lenders/ Investors Incentives $2,594,384 Servicers Incentives TARP Incentive Payments Continued on next page $17,471,940 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 415 Purchase Purchase Name of Institution New York Community Bank (AmTrust Bank), Cleveland, OH NJ Housing & Mortgage Finance, Trenton, NJ Date 4/13/2011 3/16/2015 Transaction Type $0 $0 Financial Instrument for Home Loan Modifications N/A N/A 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 6/30/2016 ($9) $200,000 ($7) ($19) ($3) ($12) ($5) $150,000 ($2) ($3,454) ($121) ($1,433) ($2,846) ($940) ($93,451) ($38,280) ($150,882) ($36,528) ($48,795) ($36,112) ($114,666) ($2,395) ($18,747) $40,000 ($10,639) $210,000 $52,082 ($20,260) ($4,820) 6/29/2011 8/16/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 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 12/28/2015 2/25/2016 3/28/2016 5/31/2016 6/16/2016 6/27/2016 3/16/2015 3/26/2015 4/28/2015 6/25/2015 ($6,306) $799,965 $300,000 6/16/2011 ($4,751) ($20,231) ($423) ($3,307) ($1,976) 9/28/2015 $799,984 $100,000 5/13/2011 12/28/2015 2/25/2016 3/28/2016 5/31/2016 6/27/2016 $200,008 $201,984 $205,291 $205,714 $225,945 $230,696 $237,002 $241,822 $262,082 $210,000 $430,654 $441,293 $401,293 $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 $799,991 $599,991 $600,000 $300,000 $200,000 $200,000 4/13/2011 Adjusted CAP CAP Adjustment Amount Adjustment Date Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 Updated due to quarterly assessment and reallocation 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 $62,612 $81,475 Borrower’s Incentives $0 $93,368 Lenders/ Investors Incentives $32,888 $44,757 Servicers Incentives TARP Incentive Payments Continued on next page $95,501 $219,600 Total TARP Incentive Payments 416 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Purchase Purchase Name of Institution Oakland Municipal Credit Union, Oakland, CA Ocwen Loan Servicing LLC, West Palm Beach, FL Date 8/5/2009 4/16/2009 Transaction Type $140,000 $659,000,000 Financial Instrument for Home Loan Modifications N/A N/A 6 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 6/30/2016 CAP Adjustment Amount $170,000 12/30/2009 3/26/2010 ($74,722) ($6,308) $10,080,000 $8,390,000 ($10,733) $14,560,000 $13,240,000 $2,080,000 ($1,015) $410,000 $960,000 $83,880,000 ($1,877) $157,237,929 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 4/9/2013 $400,000 2/16/2012 6/28/2012 $194,800,000 1/13/2012 $354,290,000 ($100,000) 10/14/2011 6/14/2012 ($10,044) 6/29/2011 $100,000 ($1,114) 3/30/2011 $123,530,000 $900,000 2/16/2011 5/16/2012 ($1,020) 1/6/2011 3/15/2012 $3,742,740 $100,000 9/15/2010 $170,800,000 $23,710,000 7/16/2010 9/30/2010 ($191,610,000) 7/14/2010 10/15/2010 $46,860,000 $156,050,000 $277,640,000 12/30/2009 6/16/2010 $102,580,000 9/30/2009 3/26/2010 ($515,201) ($105,620,000) 6/12/2009 ($7) 6/29/2011 7/22/2011 ($1) ($200,000) 3/30/2011 1/6/2011 4/13/2011 ($1) 9/30/2010 ($10,000) $210,000 9/30/2009 7/14/2010 $290,000 Adjustment Date $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 $1,835,613,521 $1,835,624,254 $1,827,234,254 $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 $1,143,251,720 $1,143,252,740 $972,452,740 $968,710,000 $968,610,000 $944,900,000 $1,136,510,000 $980,460,000 $933,600,000 $655,960,000 $553,380,000 $10,068 $525,269 $525,276 $725,276 $725,277 $725,278 $800,000 $810,000 $640,000 $430,000 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 Transfer of cap due 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 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 Reason for Adjustment Adjustment Details $630,830,434 $0 Borrower’s Incentives $1,853,332,958 $3,568 Lenders/ Investors Incentives $509,036,711 $6,500 Servicers Incentives TARP Incentive Payments Continued on next page $2,993,200,103 $10,068 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 417 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 6/30/2016 CAP Adjustment Amount $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 $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 Adjustment Date 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 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 $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 $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 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 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 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 Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 418 APPENDIX C I TRANSACTION DETAIL I JULY 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 N/A 16 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 6/30/2016 $1,301,400,000 $1,518,398,139 $30,000 ($168,638,885) $161,526,035 ($21,390,000) ($5,796,239) ($460,000) ($44,490,000) $78,956,346 ($870,000) $84,587,240 $384,650,000 $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) 2/16/2016 2/25/2016 3/4/2016 3/16/2016 3/28/2016 4/14/2016 5/16/2016 5/31/2016 6/16/2016 6/27/2016 6/12/2009 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 $1,498,984,819 $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 $6,291,769,478 $6,207,182,238 $6,208,052,238 $6,129,095,892 $6,173,585,892 $6,174,045,892 $6,179,842,131 $6,201,232,131 $6,039,706,096 $6,208,344,981 $6,208,314,981 ($350,000) 1/14/2016 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 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 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 merger/acquisition Reallocation due to MHA program deobligation Transfer of cap due to servicing transfer Transfer of cap due to servicing transfer 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 JULY 27, 2016 419 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 6/30/2016 $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) ($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) 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 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 CAP Adjustment Amount Adjustment Date $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 $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 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 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 Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 420 APPENDIX C I TRANSACTION DETAIL I JULY 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 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 6/30/2016 CAP Adjustment Amount ($12) ($115) ($86) ($236) ($40) ($149) ($56) 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 6/27/2013 ($20) $6,817,603 ($10) 1/6/2011 3/30/2011 ($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) ($178,458) ($106,634) 3/26/2014 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 5/31/2016 6/27/2016 12/23/2013 6/26/2014 ($33,979) 9/27/2013 $6,817,613 $1,817,613 9/30/2010 $945,053 $1,051,687 $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 $5,000,000 $18,540,000 $13,280,000 $5,260,000 ($13,540,000) 12/30/2009 $2,530,000 7/14/2010 $2,730,000 10/2/2009 Adjusted CAP 3/26/2010 $460,000 Adjustment Date Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 $45,711 Borrower’s Incentives $57,889 Lenders/ Investors Incentives $63,006 Servicers Incentives TARP Incentive Payments Continued on next page $166,606 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 421 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 $760,000 Financial Instrument for Home Loan Modifications N/A N/A 6 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 6/30/2016 CAP Adjustment Amount ($1) ($12) ($10) ($816,373) 3/30/2011 6/29/2011 6/28/2012 9/14/2012 ($1) 1/6/2011 $70,334 7/14/2010 9/30/2010 $140,000 ($140,000) 3/26/2010 ($9,753) 3/28/2016 $40,000 ($466,555) 2/25/2016 1/22/2010 ($150,962) 12/28/2015 ($69,927) ($224,207) 9/28/2015 ($42,745) ($167,093) 6/25/2015 5/31/2016 ($704,893) 4/28/2015 6/27/2016 ($183,056) ($15,739) 12/23/2013 ($498,170) ($9) 9/27/2013 3/26/2015 ($26) 6/27/2013 12/29/2014 ($69) 3/25/2013 ($4,292) ($18) 12/27/2012 ($12,989) ($107) 9/27/2012 7/29/2014 ($38) 6/28/2012 9/29/2014 ($52) 6/29/2011 ($554) ($6) 3/30/2011 ($6,538) ($5) 1/6/2011 6/26/2014 ($6,673,610) 9/30/2010 3/26/2014 $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 $1,068,587 $1,111,332 $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 Updated due to quarterly assessment and reallocation 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 $136,918 Borrower’s Incentives $23,937 $220,889 Lenders/ Investors Incentives $19,000 $117,929 Servicers Incentives TARP Incentive Payments Continued on next page $53,937 $475,736 Total TARP Incentive Payments 422 APPENDIX C I TRANSACTION DETAIL I JULY 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 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 6/30/2016 CAP Adjustment Amount ($6) ($58) ($43) ($119) ($20) ($76) ($29) ($10) ($17,421) ($612) 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 $2,710,000 ($18,020,000) $6,680,000 $2,600,000 ($100,000) 6/16/2010 7/14/2010 7/16/2010 8/13/2010 9/15/2010 $200,000 $23,200,000 3/26/2010 $4,100,000 1/6/2011 1/13/2011 ($94) ($100,000) $5,800,000 3/30/2011 4/13/2011 5/13/2011 ($100,000) ($72) 12/15/2010 $4,000,000 ($100,000) 11/16/2010 3/16/2011 $1,400,000 9/30/2010 2/16/2011 ($1,423,197) 9/30/2010 $30,800,000 12/30/2009 ($11,998) 3/28/2016 ($1,200,000) ($574,396) 2/25/2016 9/30/2009 ($198,838) 12/28/2015 ($93,018) ($265,281) 9/28/2015 ($55,567) ($197,512) 6/25/2015 5/31/2016 ($828,966) 4/28/2015 6/27/2016 ($211,377) 3/26/2015 $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 $436,220 $491,787 $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 ($4,742) ($563,436) 9/29/2014 12/29/2014 $3,441,351 ($14,356) 7/29/2014 $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 ($7,228) ($5) 9/30/2010 Adjusted CAP 6/26/2014 $2,181,334 Adjustment Date Transfer of cap due 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 Updated due to quarterly assessment and reallocation 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 $11,737,404 $8,417 Borrower’s Incentives $39,925,969 $17,761 Lenders/ Investors Incentives $14,364,084 $33,307 Servicers Incentives TARP Incentive Payments Continued on next page $66,027,457 $59,485 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 423 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 6/30/2016 CAP Adjustment Amount $300,000 $900,000 $800,000 $200,000 $1,900,000 9/15/2011 10/14/2011 11/16/2011 12/15/2011 1/13/2012 3/15/2012 ($3,370,000) $3,380,000 $2,364,052 6/25/2015 $2,467,104 3/26/2015 6/16/2015 $20,000 2/13/2015 5/14/2015 $16,799,847 12/29/2014 $3,210,000 $20,000 11/14/2014 $1,404,045 ($25,090,000) 10/16/2014 4/16/2015 ($7,217) 9/29/2014 4/28/2015 $150,000 $3,708,381 7/29/2014 ($2,610,000) $10,000 9/16/2014 $5,959,201 6/26/2014 7/16/2014 8/14/2014 ($10,000) $2,017,426 3/26/2014 $2,360,000 ($2,390,000) 3/14/2014 6/16/2014 $5,130,000 2/13/2014 5/15/2014 $4,450,000 $15,826,215 12/23/2013 ($7) 9/27/2013 10/15/2013 ($128) 2/14/2013 $2,440,000 $2,980,000 12/27/2012 6/14/2013 ($154) 12/14/2012 6/27/2013 $3,860,000 10/16/2012 ($506) $1,800,000 9/27/2012 $2,160,000 ($974) 8/16/2012 4/16/2013 $890,000 7/16/2012 3/25/2013 ($340) $2,930,000 6/28/2012 $200,000 $2,800,000 7/14/2011 $1,340,000 $2,500,000 6/29/2011 6/14/2012 ($812) 6/16/2011 4/16/2012 $600,000 Adjustment Date $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 $67,255,825 $67,256,637 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 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 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 424 APPENDIX C I TRANSACTION DETAIL I JULY 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 N/A N/A 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 6/30/2016 ($16,870,000) ($126,953) $1,300,000 ($15) ($42) $140,000 ($8) ($30) ($11) $5,850,000 6/16/2016 6/27/2016 9/15/2011 6/28/2012 9/27/2012 10/16/2012 12/27/2012 3/25/2013 6/27/2013 7/16/2013 ($1,601,860) ($382,420) ($10,000) ($512,596) ($387,831) ($1,134,993) ($23,709) ($185,561) ($111,846) 4/28/2015 6/25/2015 8/14/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 5/31/2016 6/27/2016 7/16/2014 $20,000 $10,000 $3,210,281 ($406,380) 3/26/2015 11/14/2013 $3,722,877 ($1,078,208) 12/29/2014 $30,000 $10,000 $1,366,341 $1,478,187 $1,663,748 $1,687,457 $2,822,450 $3,732,877 $4,115,297 $5,717,157 $6,123,537 $7,201,745 ($9,436) 9/29/2014 $7,211,181 ($28,561) $7,239,742 $7,254,113 $7,255,329 $1,439,894 $1,439,905 $1,439,935 $1,439,943 $1,299,943 $1,299,985 $1,300,000 $126,065,545 $126,192,498 $143,062,498 $141,088,531 $141,098,531 $141,068,531 $141,193,792 $141,173,792 $146,604,247 $142,525,577 7/29/2014 ($14,371) $1,973,967 5/31/2016 6/26/2014 ($10,000) 5/16/2016 ($1,216) $30,000 4/14/2016 3/26/2014 $7,289,874 ($125,261) 3/28/2016 ($20) $20,000 3/16/2016 ($34,545) ($5,430,455) 2/25/2016 9/27/2013 $4,078,670 12/23/2013 $7,289,894 $6,612,807 9/28/2015 12/28/2015 $135,912,770 $131,502,770 $450,000 $4,410,000 8/14/2015 Adjusted CAP 7/16/2015 CAP Adjustment Amount Adjustment Date 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 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 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 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 Reason for Adjustment Adjustment Details $9,917 $184,835 Borrower’s Incentives $0 $145,337 Lenders/ Investors Incentives $3,000 $73,118 Servicers Incentives TARP Incentive Payments Continued on next page $12,917 $403,290 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 425 Purchase Purchase Name of Institution PNC Bank, National Association, Pittsburgh, PA PNC Bank, National Association (successor to National City Bank), Miamisburg, OH Date 7/17/2009 6/26/2009 Transaction Type Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $294,980,000 $54,470,000 N/A 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 6/30/2016 CAP Adjustment Amount ($19,002,914) ($4,501,445) ($5,972,171) ($4,421,272) ($12,807,238) ($268,339) ($2,078,999) ($1,239,369) $315,170,000 $90,280,000 ($18,690,000) 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 3/28/2016 5/31/2016 6/27/2016 9/30/2009 12/30/2009 3/26/2010 $80,600,000 $71,230,004 ($828) $200,000 ($100,000) ($981) 9/30/2010 ($272,640,000) ($4,826,204) 3/26/2015 7/14/2010 ($12,871,888) 12/29/2014 ($656) 6/27/2013 ($106,405) $60,000 4/9/2013 9/29/2014 ($1,740) 3/25/2013 ($322,480) ($460) 12/27/2012 ($162,401) ($2,745) 9/27/2012 7/29/2014 ($1,003) 6/28/2012 6/26/2014 ($300,000) 10/14/2011 ($13,845) ($1,382) 6/29/2011 3/26/2014 $81,027,701 ($100,000) 5/13/2011 ($234) ($147) 3/30/2011 ($394,926) ($123) 1/6/2011 9/27/2013 $23,076,191 9/30/2010 12/23/2013 $81,027,935 $35,500,000 9/30/2010 9/30/2010 1/6/2011 2/16/2011 3/16/2011 3/30/2011 $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 $12,037,805 $13,277,174 $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 $81,028,591 $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 $2,470,000 $37,510,000 ($17,180,000) 12/30/2009 $18,230,000 3/26/2010 $19,280,000 9/30/2009 Adjusted CAP 7/14/2010 ($36,240,000) Adjustment Date 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 Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 $18,774,304 $397,688 Borrower’s Incentives $19,730,865 $2,185,314 Lenders/ Investors Incentives $11,886,060 $782,750 Servicers Incentives TARP Incentive Payments Continued on next page $50,391,230 $3,365,751 Total TARP Incentive Payments 426 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Name of Institution PrimeWest Mortgage Corporation, Lubbock, TX Date 3/15/2012 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 6/30/2016 CAP Adjustment Amount ($25,425,688) ($33,194,831) ($30,000) ($2,810,000) ($24,862,414) ($75,905,149) ($1,587,446) $30,000 ($11,526,843) ($810,000) ($7,133,429) 6/25/2015 9/28/2015 10/15/2015 11/16/2015 12/28/2015 2/25/2016 3/28/2016 4/14/2016 5/31/2016 6/16/2016 6/27/2016 $100,000 ($109,179,651) 4/28/2015 3/15/2012 ($30,405,344) 3/26/2015 3/14/2014 ($840,000) $7,680,000 12/23/2013 3/16/2015 ($2,622,925) 9/27/2013 ($81,896,499) ($1,565) 6/27/2013 12/29/2014 ($4,393) 3/25/2013 ($1,380,000) ($11,713) 12/27/2012 11/14/2014 ($3,105) 9/27/2012 $10,000 ($18,467) 6/28/2012 10/16/2014 ($6,771) 6/14/2012 ($704,516) ($10,000) 3/15/2012 9/29/2014 $200,000 2/16/2012 ($940,000) ($100,000) 1/13/2012 8/14/2014 $200,000 11/16/2011 ($2,140,858) ($300,000) 10/14/2011 7/29/2014 $300,000 6/29/2011 ($92,836) ($9,197) 6/16/2011 ($1,090,169) ($200,000) 5/13/2011 6/26/2014 ($200,000) 4/13/2011 3/26/2014 ($2,300,000) Adjustment Date $100,000 $151,704,386 $158,837,815 $159,647,815 $171,174,658 $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 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 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 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 JULY 27, 2016 427 Name of Institution Purdue Federal Credit Union (Purdue Employees Federal Credit Union), West Lafayette, IN Date 7/29/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $1,090,000 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 6/30/2016 CAP Adjustment Amount ($17) ($3) ($11) ($4) 9/27/2012 12/27/2012 3/25/2013 6/27/2013 ($28,680) 6/25/2015 ($1,691) ($13,238) ($7,908) 3/28/2016 5/31/2016 6/27/2016 ($80,972) ($120,932) 4/28/2015 2/25/2016 ($30,682) 3/26/2015 ($38,312) ($81,582) 12/29/2014 ($28,353) ($673) 7/29/2014 9/29/2014 9/28/2015 ($2,039) 6/26/2014 12/28/2015 ($87) ($1,027) 3/26/2014 ($1) ($8) ($6) 6/29/2011 6/28/2012 ($2,474) ($1) 3/30/2011 9/27/2013 $580,189 ($1) 1/6/2011 12/23/2013 $580,206 $180,222 9/30/2010 $141,520 $149,428 $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 $580,212 $580,220 $580,221 $580,222 $400,000 $4,360,000 $2,070,000 $2,290,000 ($3,960,000) 12/30/2009 $1,030,000 3/26/2010 $1,260,000 9/30/2009 Adjusted CAP 7/14/2010 ($60,000) Adjustment Date Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 $5,000 Borrower’s Incentives $3,976 Lenders/ Investors Incentives $4,000 Servicers Incentives TARP Incentive Payments Continued on next page $12,976 Total TARP Incentive Payments 428 APPENDIX C I TRANSACTION DETAIL I JULY 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 6/30/2016 CAP Adjustment Amount 6/29/2011 ($159) ($1,242) ($742) 5/31/2016 6/27/2016 ($7,597) 2/25/2016 3/28/2016 ($3,595) ($2,660) ($2,691) 9/28/2015 ($11,347) 4/28/2015 6/25/2015 12/28/2015 ($7,654) ($2,879) 3/26/2015 ($63) 9/29/2014 12/29/2014 ($96) ($191) 7/29/2014 ($8) 3/26/2014 6/26/2014 ($1) ($232) 3/25/2013 12/23/2013 ($1) ($1) 9/30/2010 ($2) $45,056 7/14/2010 6/28/2012 $90,000 3/26/2010 9/27/2012 ($10,000) Adjustment Date $103,895 $104,637 $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 Updated due to quarterly assessment and reallocation 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 JULY 27, 2016 429 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 N/A N/A N/A 9 3 6 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 6/30/2016 CAP Adjustment Amount $100,000 $100,000 $800,000 ($559) $300,000 $200,000 $100,000 $100,000 $330,000 ($428) ($1,184) ($1,910,000) ($980,000) ($187) ($707) ($240,000) ($268) $10,000 ($96) ($20,000) ($162,518) ($31,540,186) $10,000 $10,000 4/13/2011 5/13/2011 6/16/2011 6/29/2011 7/14/2011 8/16/2011 9/15/2011 1/13/2012 6/14/2012 6/28/2012 9/27/2012 10/16/2012 11/15/2012 12/27/2012 3/25/2013 4/16/2013 6/27/2013 7/16/2013 9/27/2013 11/14/2013 12/23/2013 2/27/2014 12/14/2012 8/15/2013 $30,000 ($58) $45,056 $34,944 $40,000 1/15/2015 9/30/2010 1/6/2011 3/30/2011 $50,000 $10,000 5/15/2014 ($200,000) ($10,000) ($60,000) 6/29/2011 $10,000 3/14/2014 $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 3/15/2012 6/14/2012 4/9/2013 $23,690,000 $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 $35,489,401 $35,490,585 $35,491,013 $35,161,013 $35,061,013 $34,961,013 $34,761,013 $34,461,013 $34,461,572 $33,661,572 $33,561,572 $33,461,572 $33,461,630 $32,061,630 $20,800,000 $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 430 APPENDIX C I TRANSACTION DETAIL I JULY 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 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 6/30/2016 CAP Adjustment Amount $420,000 $8,060,000 ($313) $2,160,000 5/16/2012 6/14/2012 6/28/2012 7/16/2012 $3,190,000 ($260,000) ($713) $1,330,000 $100,000 $20,000 ($264) $6,080,000 ($2,130,000) ($101) $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) 2/14/2013 ($178) $2,800,000 11/16/2011 12/27/2012 ($1,900,000) 9/15/2011 $20,000 ($329) 6/29/2011 11/15/2012 $42,825,330 $100,000 4/13/2011 ($911) ($37) 3/30/2011 $5,690,000 ($34) 1/6/2011 9/27/2012 $586,954 9/30/2010 10/16/2012 $42,826,241 $400,000 9/30/2010 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 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 $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 $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 ($1,390,000) $45,460,000 ($13,870,000) 12/30/2009 $17,540,000 7/14/2010 $27,920,000 9/30/2009 Adjusted CAP 3/26/2010 ($1,860,000) Adjustment Date 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 $6,562,211 Borrower’s Incentives $10,869,991 Lenders/ Investors Incentives $4,629,986 Servicers Incentives TARP Incentive Payments Continued on next page $22,062,188 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 431 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 6/30/2016 CAP Adjustment Amount ($999,808) $290,000 ($120,000) ($250,000) ($660,712) ($3,250,000) ($3,134,539) ($2,070,000) ($86,358) ($8,730,000) ($350,000) ($80,165) $20,000 ($46,949) 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 4/14/2016 5/16/2016 5/31/2016 6/16/2016 6/27/2016 ($40,000) 7/16/2015 $10,000 ($936,320) 6/25/2015 ($300,000) $350,000 6/16/2015 9/16/2015 $570,000 8/14/2015 ($4,012,710) 2/13/2015 5/14/2015 $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 $28,372,196 $28,419,145 $28,399,145 $28,479,310 $28,829,310 $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 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 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 432 APPENDIX C I TRANSACTION DETAIL I JULY 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 N/A 3, 15 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 6/30/2016 CAP Adjustment Amount ($219) $620,000 $990,000 ($96) $5,780,000 ($50) $880,000 5/16/2013 6/14/2013 6/27/2013 7/16/2013 9/27/2013 10/15/2013 $6,610,000 $18,624,873 $1,390,000 3/14/2013 3/25/2013 ($197,950) ($56,740,004) $488,713 ($800,680) 7/29/2014 9/16/2014 9/29/2014 11/3/2014 ($96,715) $1,310,000 6/26/2014 7/16/2014 $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 $8,690,000 2/14/2013 $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 $9,845,238 $1,155,238 $1,145,238 $1,145,239 ($1) 9/27/2012 $940,000 $1,145,242 $10,000 ($3) 6/28/2012 1/16/2013 $205,242 6/14/2012 Adjusted CAP 12/27/2012 $940,000 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 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 JULY 27, 2016 433 Purchase Purchase Purchase Purchase Name of Institution RG Mortgage Corporation, San Juan, PR Rockland Trust Company, Rockland, MA Roebling Bank, Roebling, NJ RoundPoint Mortgage Servicing Corporation, Charlotte , NC Date 6/17/2009 6/16/2016 1/13/2010 8/28/2009 Transaction Type $240,000 Financial Instrument for Home Loan Modifications $570,000 $0 Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications $57,000,000 N/A N/A N/A N/A 3 6 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 6/30/2016 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 ($812) ($306) ($110) ($185,423) ($6,518) ($77,004) ($152,943) ($50,520) ($30,000) ($35,740,763) 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 10/16/2014 11/3/2014 $40,000 ($214) 9/27/2012 7/14/2010 $2,110,000 $8,300,000 $5,301,172 ($22) ($400,000) ($25) ($232) ($174) ($479) ($350,000) ($82) 9/30/2010 1/6/2011 3/16/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 11/15/2012 12/27/2012 ($310,000) 12/30/2009 3/26/2010 $130,000 10/2/2009 7/14/2010 $0 ($870,333) 3/23/2011 $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 $870,333 $870,334 $900,000 $850,000 $40,000 $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 1/6/2011 ($29,666) $50,000 3/26/2010 9/30/2010 $610,000 6/16/2016 ($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 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 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 due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation Updated due to quarterly 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 $494,229 $0 $0 $164,853 Borrower’s Incentives $1,046,621 $0 $0 $227,582 Lenders/ Investors Incentives $656,620 $0 $0 $401,334 Servicers Incentives TARP Incentive Payments Continued on next page $2,197,471 $0 $0 $793,769 Total TARP Incentive Payments 434 APPENDIX C I TRANSACTION DETAIL I JULY 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 6/30/2016 $640,000 ($40) $190,000 ($67,286) $520,000 $10,000 ($30,000) 7/16/2013 9/16/2013 9/27/2013 12/16/2013 12/23/2013 1/16/2014 2/13/2014 3/14/2014 $10,000 ($732,290) $50,000 $10,000 ($2,314,829) $200,000 ($55,575) 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 ($271,492) ($1,064,251) 9/28/2015 6/27/2016 $20,000 8/14/2015 ($10,000) ($822,251) 6/25/2015 6/16/2016 ($50,000) 5/14/2015 $20,000 ($3,450,733) 4/28/2015 ($455,300) ($891,303) 3/26/2015 5/31/2016 ($2,352,678) 12/29/2014 5/16/2016 $530,000 ($19,992) 9/29/2014 ($120,000) $360,000 8/14/2014 12/16/2014 ($59,055) 7/29/2014 10/16/2014 ($28,873) $480,000 6/26/2014 7/16/2014 ($2,463) $30,000 6/27/2013 ($20,000) ($108) 6/14/2013 4/16/2014 $20,000 4/16/2013 3/26/2014 ($308) $80,000 3/25/2013 CAP Adjustment Amount Adjustment Date $5,701,331 $5,972,823 $5,982,823 $6,438,123 $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 $15,429,850 $15,349,850 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 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 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 JULY 27, 2016 435 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 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 6/30/2016 CAP Adjustment Amount $50,000 ($2,090) $4,440,000 $60,000 $380,000 ($35,305) $270,000 ($69,974) 3/14/2014 3/26/2014 4/16/2014 5/15/2014 6/16/2014 6/26/2014 7/16/2014 7/29/2014 ($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 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 $4,040,000 $10,000 1/16/2014 $1,670,000 ($60,644) 12/23/2013 8/14/2014 $1,330,000 12/16/2013 9/16/2014 $19,140,000 11/14/2013 $13,149,823 ($26) $10,000 9/27/2013 10/15/2013 $13,149,849 $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 $6,319,902 $5,979,902 $5,979,979 $2,570,000 3/14/2013 $3,999,979 9/16/2013 $1,980,000 2/14/2013 $3,399,979 ($53) $600,000 1/16/2013 $2,409,979 $2,740,000 $990,000 12/27/2012 $2,409,984 6/14/2013 ($5) 11/15/2012 $2,179,984 6/27/2013 $230,000 10/16/2012 $909,984 $909,997 $1,520,000 $1,270,000 9/27/2012 5/16/2013 ($13) 8/16/2012 $799,997 ($77) $110,000 6/28/2012 $800,000 $200,000 $340,000 ($3) 4/16/2012 4/16/2013 $600,000 12/15/2011 Adjusted CAP 3/25/2013 $200,000 Adjustment Date Transfer of cap due 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 Transfer of cap due 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 Reason for Adjustment Adjustment Details $14,016,748 Borrower’s Incentives $15,124,100 Lenders/ Investors Incentives $3,314,045 Servicers Incentives TARP Incentive Payments Continued on next page $32,454,892 Total TARP Incentive Payments 436 APPENDIX C I TRANSACTION DETAIL I JULY 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 6/30/2016 ($1,805,648) $5,500,000 3/16/2016 6/27/2016 ($9,768,061) 2/25/2016 $5,480,000 $2,170,000 2/16/2016 6/16/2016 $250,000 1/14/2016 ($2,271,991) ($2,075,474) 12/28/2015 5/31/2016 $350,000 12/16/2015 ($1,740,000) $100,000 11/16/2015 5/16/2016 ($1,260,000) ($347,014) ($3,202,247) 9/28/2015 10/15/2015 ($1,040,000) $5,300,000 9/16/2015 4/14/2016 $85,882,245 $10,390,000 8/14/2015 3/28/2016 $89,084,492 $2,050,000 7/16/2015 $79,424,057 $81,229,705 $75,749,705 $78,021,696 $79,761,696 $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 $83,784,492 $73,394,492 $71,344,492 ($1,665,379) 6/25/2015 Adjusted CAP 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 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 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 JULY 27, 2016 437 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 N/A 10 Note (CONTINUED) Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism HAMP TRANSACTION DETAIL, AS OF 6/30/2016 CAP Adjustment Amount $503,320,000 $619,542,668 ($513,660,000) ($22,980,000) $1,800,000 $9,800,000 $116,222,668 $100,000 $8,900,000 ($556) $2,300,000 $700,000 ($654) $2,100,000 7/14/2010 7/16/2010 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 ($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) 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 $633,035,314 ($700,000) $17,500,000 9/15/2011 12/15/2011 $633,735,314 ($100,000) 8/16/2011 $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 $633,835,314 7/14/2011 $633,635,314 ($6,144) $200,000 6/29/2011 $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 $632,040,000 ($156,050,000) $355,710,000 9/30/2009 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 438 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 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 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 6/30/2016 ($44) ($7) ($28) ($11) 9/27/2012 12/27/2012 3/25/2013 6/27/2013 ($4) ($16) 6/28/2012 ($210,262) ($4,392) ($35,674) ($21,311) 2/25/2016 3/28/2016 5/31/2016 6/27/2016 ($71,460) 6/25/2015 ($95,514) ($301,210) 4/28/2015 ($70,705) ($76,420) 3/26/2015 9/28/2015 ($201,817) 12/29/2014 12/28/2015 ($5,285) ($1,746) 7/29/2014 9/29/2014 ($225) ($2,661) 6/26/2014 12/23/2013 3/26/2014 ($6,411) 9/27/2013 ($22) 6/29/2011 $1,450,554 ($2) $1,150,556 9/30/2010 ($2) ($140,000) 7/14/2010 1/6/2011 ($980,000) 3/26/2010 3/30/2011 $1,450,556 $940,000 12/30/2009 $345,327 $366,638 $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 $300,000 $440,000 $1,420,000 $480,000 $90,000 10/2/2009 Adjusted CAP CAP Adjustment Amount Adjustment Date Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 $50,667 Borrower’s Incentives $81,609 Lenders/ Investors Incentives $39,500 Servicers Incentives TARP Incentive Payments Continued on next page $171,775 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 439 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 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 6/30/2016 CAP Adjustment Amount ($11) ($41) ($16) ($6) ($9,679) ($344) ($4,087) 12/27/2012 3/25/2013 6/27/2013 9/27/2013 12/23/2013 3/26/2014 6/26/2014 ($8,126) ($63) 9/27/2012 ($290,000) $131,340,000 ($355,530,000) $128,690,000 12/30/2009 3/26/2010 7/14/2010 $4,000,000 $121,910,000 9/30/2009 ($700,000) $64,400,000 ($639) ($2,300,000) $100,000 12/15/2010 1/6/2011 1/13/2011 2/16/2011 9/30/2010 11/16/2010 $59,807,784 9/30/2010 ($145,055) $284,590,000 ($1) 9/30/2010 6/29/2011 6/12/2009 ($54,944) 7/14/2010 4/11/2012 ($70,000) 3/26/2010 $20,000 ($6,237) 3/28/2016 12/30/2009 ($298,593) 2/25/2016 $100,000 ($65,988) 10/2/2009 ($87,785) 9/28/2015 12/28/2015 ($48,817) ($63,179) 6/25/2015 ($29,163) ($260,119) 4/28/2015 5/31/2016 ($65,464) 3/26/2015 6/27/2016 $30,000 ($163,461) 12/29/2014 9/29/2014 10/16/2014 ($2,690) 7/29/2014 ($5) ($23) 1/6/2011 6/29/2011 ($4) 12/15/2010 6/28/2012 $4,300,000 Adjustment Date $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 $3,216,099 $3,245,262 $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 $4,277,595 $4,285,721 $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 Transfer of cap due 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 Updated due to quarterly assessment and reallocation 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 $271,172,000 $0 $1,355,278 Borrower’s Incentives $420,390,876 $0 $831,258 Lenders/ Investors Incentives $217,440,044 $0 $417,009 Servicers Incentives TARP Incentive Payments Continued on next page $909,002,920 $0 $2,603,545 Total TARP Incentive Payments 440 APPENDIX C I TRANSACTION DETAIL I JULY 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 6/30/2016 CAP Adjustment Amount ($100,000) ($6,805) ($100,000) ($200,000) ($100,000) ($100,000) $200,000 $24,800,000 $1,900,000 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 ($5,176) $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 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 $80,000 $400,000 5/13/2011 $8,710,000 ($100,000) 4/13/2011 6/14/2012 ($735) 3/16/2011 3/30/2011 5/16/2012 $3,600,000 Adjustment Date $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 $815,907,145 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 Transfer of cap due 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 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 JULY 27, 2016 441 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 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 6/30/2016 ($1,023,387) $12,690,000 ($1,968,183) ($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) $940,000 $10,880,000 $119,002,590 $38,730,000 $19,191,131 $3,680,000 $3,300,000 $3,043,831 $1,400,000 ($17) $2,100,000 ($24) $2,900,000 ($200,000) ($273) 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 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 4/14/2016 5/16/2016 5/31/2016 6/16/2016 6/27/2016 6/16/2010 8/13/2010 9/30/2010 10/15/2010 1/6/2011 3/16/2011 3/30/2011 4/13/2011 6/16/2011 6/29/2011 CAP Adjustment Amount Adjustment Date $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 $1,979,441,118 $1,960,249,987 $1,921,519,987 $1,802,517,397 $1,791,637,397 $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 $1,406,911,724 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 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 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 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 Reason for Adjustment Adjustment Details $2,544,272 Borrower’s Incentives $1,607,349 Lenders/ Investors Incentives $2,616,626 Servicers Incentives TARP Incentive Payments Continued on next page $6,768,247 Total TARP Incentive Payments 442 APPENDIX C I TRANSACTION DETAIL I JULY 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 6/30/2016 $1,150,000 $90,000 ($3,752,790) ($10,000) $1,250,000 ($11,934,020) 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 $7,610,000 8/14/2015 $3,760,000 ($1,996,581) 6/25/2015 10/15/2015 $30,000 6/16/2015 $370,000 ($8,202,554) 4/28/2015 ($4,239,474) $2,860,000 4/16/2015 9/28/2015 ($1,844,353) 3/26/2015 9/16/2015 $20,000 3/16/2015 ($52,910) 9/29/2014 $10,000 $11,650,000 9/16/2014 1/15/2015 $2,480,000 8/14/2014 $30,000 ($142,594) 7/29/2014 ($4,478,535) $23,490,000 7/16/2014 12/29/2014 ($36,971) 6/26/2014 12/16/2014 $30,000 5/16/2013 4/16/2014 ($30,000) 3/25/2013 ($3,125) ($384) 3/14/2013 3/26/2014 $90,000 12/27/2012 $10,000 ($102) 11/15/2012 3/14/2014 $70,000 9/27/2012 ($88,613) ($600) 8/16/2012 12/23/2013 $480,000 7/16/2012 ($52) $40,000 6/28/2012 9/27/2013 ($218) 6/14/2012 ($146) ($300,000) 5/16/2012 $170,000 $10,000 4/16/2012 7/16/2013 $200,000 11/16/2011 6/27/2013 $100,000 $1,100,000 10/14/2011 CAP Adjustment Amount Adjustment Date $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 $17,333,517 $17,633,517 $17,623,517 $17,423,517 $16,323,517 Adjusted CAP 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 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 JULY 27, 2016 443 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 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 6/30/2016 CAP Adjustment Amount $200,000 $100,000 ($153) $100,000 $100,000 $1,100,000 $650,000 ($136) ($347) 4/13/2011 5/13/2011 6/29/2011 9/15/2011 11/16/2011 4/16/2012 6/14/2012 6/28/2012 9/27/2012 $30,000 ($59) $20,000 $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) 1/16/2013 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 3/14/2014 12/14/2012 12/27/2012 ($10,000) 11/15/2012 $250,000 ($16) 3/30/2011 10/16/2012 $600,000 12/30/2009 3/16/2011 ($3,090,000) 10/2/2009 ($12) $960,000 6/27/2016 $323,114 ($1,004,539) 6/16/2016 1/6/2011 ($80,000) 5/31/2016 9/30/2010 ($1,623,427) 5/16/2016 $230,000 ($220,000) 4/14/2016 $5,310,000 ($740,000) 3/28/2016 7/14/2010 ($226,478) 3/16/2016 3/26/2010 ($220,000) Adjustment Date $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 $32,095,051 $33,099,590 $33,179,590 $34,803,017 $35,023,017 $35,763,017 $35,989,495 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 Transfer of cap due 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 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 $354,373 Borrower’s Incentives $405,197 Lenders/ Investors Incentives $237,873 Servicers Incentives TARP Incentive Payments Continued on next page $997,443 Total TARP Incentive Payments 444 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 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 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 6/30/2016 ($60,000) ($427,170) $330,000 $80,000 $140,000 ($561,929) $40,000 $580,000 $230,000 ($486,283) $1,080,000 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 $640,000 ($516,588) ($25,510,000) $520,000 5/31/2016 6/16/2016 6/27/2016 9/30/2009 12/30/2009 $230,000 $850,000 ($850,000) $100,000 4/19/2010 $4,330,000 ($767,027) 5/16/2016 3/26/2010 $840,000 $1,780,000 4/14/2016 ($54,203) $160,000 5/14/2015 3/28/2016 ($1,823,241) 4/28/2015 $330,000 ($20,000) 4/16/2015 3/16/2016 ($563,340) 3/26/2015 $500,000 ($1,970,000) 3/16/2015 ($2,321,321) ($70,000) 2/13/2015 2/25/2016 ($280,000) 1/15/2015 2/16/2016 ($10,000) ($1,446,220) 12/29/2014 9/29/2014 12/16/2014 $70,000 ($13,236) 9/16/2014 ($39,741) 6/26/2014 ($40,000) ($20,009) 6/16/2014 7/29/2014 $30,000 4/16/2014 8/14/2014 ($1,697) $100,000 3/26/2014 CAP Adjustment Amount Adjustment Date 5/19/2010 7/14/2010 9/15/2010 $9,400,000 $9,300,000 $10,150,000 $9,300,000 $9,070,000 $4,740,000 $4,220,000 $7,760,646 $8,277,234 $7,637,234 $8,404,261 $6,624,261 $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 $12,421,204 $12,351,204 $12,391,204 $12,430,945 $12,450,954 $12,420,954 $12,320,954 Adjusted 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 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 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 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 $11,386,903 Borrower’s Incentives $11,045,218 Lenders/ Investors Incentives $4,022,901 Servicers Incentives TARP Incentive Payments Continued on next page $26,455,023 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 445 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 6/30/2016 9/16/2013 ($239,727) $10,000 $2,600,000 8/15/2013 12/23/2013 $2,030,000 7/16/2013 $9,960,000 ($359) 12/16/2013 $1,620,000 6/14/2013 6/27/2013 $30,000 ($60,000) 5/16/2013 11/14/2013 $55,531,008 $410,000 4/16/2013 ($135) ($960) $270,000 $1,920,000 3/14/2013 3/25/2013 9/27/2013 $1,790,000 2/14/2013 10/15/2013 $55,531,143 $210,000 1/16/2013 $65,551,281 $65,791,008 $55,831,008 $55,801,008 $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 ($239) $1,560,000 6/14/2012 $38,774,438 12/27/2012 ($1,080,000) 5/16/2012 $39,054,438 $39,854,438 $1,160,000 $800,000 12/14/2012 $1,100,000 3/15/2012 4/16/2012 $37,954,438 $1,340,000 $1,300,000 2/16/2012 $36,654,438 11/15/2012 $100,000 1/13/2012 $36,554,438 $2,100,000 $200,000 12/15/2011 $36,354,438 10/16/2012 $600,000 11/16/2011 $35,754,438 ($1,272) $4,000,000 10/14/2011 $31,754,438 9/27/2012 ($600,000) 9/15/2011 $32,354,438 ($465) $700,000 8/16/2011 $31,654,438 $70,000 ($534) 6/29/2011 $31,654,972 $31,554,972 8/16/2012 $100,000 $30,554,972 $29,054,972 $29,055,024 $26,855,024 $26,755,024 $26,455,024 $26,455,064 6/28/2012 $1,000,000 $2,200,000 3/16/2011 5/13/2011 $100,000 2/16/2011 6/16/2011 $300,000 1/13/2011 ($52) ($40) 1/6/2011 $1,500,000 $100,000 12/15/2010 4/13/2011 $100,000 3/30/2011 $26,255,064 $16,755,064 9/30/2010 10/15/2010 $26,355,064 $9,500,000 $100,000 9/30/2010 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 Transfer of cap due 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 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 Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 446 APPENDIX C I TRANSACTION DETAIL I JULY 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 6/30/2016 $4,050,000 $420,000 ($73,587) $7,390,000 ($390,000) $4,990,000 ($8,713,039) ($50,000) $11,850,000 $11,660,000 ($4,671,888) $590,000 ($18,231,781) $2,100,000 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 ($4,760,843) $100,000 $570,000 ($14,691,799) $6,270,000 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 ($500,000) ($3,185,286) $660,000 ($2,064,146) 5/16/2016 5/31/2016 6/16/2016 6/27/2016 ($334,912) $500,000 11/16/2015 $5,270,000 $3,700,000 10/15/2015 4/14/2016 $1,040,000 9/28/2015 3/28/2016 ($430,000) ($6,107,608) 9/16/2015 $2,240,000 ($205,396) 7/29/2014 8/14/2015 ($103,723) 6/26/2014 $60,000 $920,000 6/16/2014 7/16/2015 ($460,000) 5/15/2014 $2,820,000 $60,000 4/16/2014 ($4,782,922) ($8,837) 3/26/2014 6/16/2015 ($130,000) 3/14/2014 6/25/2015 $2,090,000 $2,450,000 1/16/2014 2/13/2014 CAP Adjustment Amount Adjustment Date $67,455,514 $69,519,660 $68,859,660 $72,044,946 $72,544,946 $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 $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 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 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 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 JULY 27, 2016 447 Purchase Purchase Name of Institution ShoreBank, Chicago, IL Silver State Schools Credit Union, Las Vegas, NV Date 7/17/2009 12/9/2009 Transaction Type $1,410,000 $1,880,000 Financial Instrument for Home Loan Modifications N/A N/A 6 6 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 6/30/2016 CAP Adjustment Amount ($4) 1/22/2010 $2,175,725 ($57) ($10) ($37) ($15) ($1,889,819) 9/27/2012 12/27/2012 3/25/2013 6/27/2013 7/9/2013 $285,844 $2,175,663 $2,175,678 $2,175,715 $2,175,782 ($21) 6/28/2012 $2,175,803 $2,175,829 ($26) ($3) $2,175,832 $2,175,834 $1,900,000 $3,080,000 $1,970,000 $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 Adjusted CAP 6/29/2011 3/30/2011 ($2) $90,000 4/9/2013 1/6/2011 ($2,324,244) 3/25/2013 $275,834 ($50) 12/27/2012 9/30/2010 ($13) 9/27/2012 $1,110,000 ($79) 6/28/2012 ($1,180,000) ($29) 6/29/2011 3/26/2010 ($38) 4/13/2011 7/14/2010 ($1,100,000) 3/30/2011 ($3) $471,446 9/30/2010 1/6/2011 ($20,000) ($240,000) 12/30/2009 3/26/2010 $1,260,000 9/30/2009 7/14/2010 $890,000 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 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 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 Reason for Adjustment Adjustment Details $40,356 $49,915 Borrower’s Incentives $176,299 $153,906 Lenders/ Investors Incentives $69,189 $143,165 Servicers Incentives TARP Incentive Payments Continued on next page $285,844 $346,986 Total TARP Incentive Payments 448 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Purchase Purchase Purchase Name of Institution SN Servicing Corporation, Baton Rouge, LA Sound Community Bank, Seattle, WA Specialized Loan Servicing LLC, Highlands Ranch, CO Date 10/15/2013 12/16/2009 1/13/2010 Transaction Type $0 $440,000 $64,150,000 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 6/30/2016 CAP Adjustment Amount ($13,406) $90,000 ($18,475) 12/16/2014 12/29/2014 1/15/2015 3/26/2015 $20,000 $20,000 1/22/2010 $25,630,000 $23,934,174 $3,000,000 $4,860,000 $3,630,000 $330,000 $700,000 $200,000 ($1,695,826) $200,000 ($32) $1,500,000 5/14/2010 6/16/2010 7/14/2010 7/16/2010 8/13/2010 9/15/2010 9/30/2010 11/16/2010 1/6/2011 1/13/2011 $0 $25,634,142 $24,134,142 $24,134,174 $25,430,000 $24,730,000 $24,400,000 $20,770,000 $15,910,000 $12,910,000 ($1,500,000) ($51,240,000) 9/8/2010 3/26/2010 $1,500,000 ($390,000) 7/14/2010 $1,890,000 $460,000 $3,681,752 $1,430,000 ($499,359) 6/27/2016 $4,181,111 $5,007,393 $4,617,393 $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 Adjusted CAP 3/26/2010 ($826,282) $1,170,000 3/16/2016 5/31/2016 ($2,295,159) 2/25/2016 $390,000 ($80,000) 2/16/2016 5/16/2016 $330,000 1/14/2016 ($76,689) ($716,235) 12/28/2015 $840,000 $990,000 11/16/2015 3/28/2016 $2,820,000 10/15/2015 4/14/2016 $160,000 ($260,437) 9/28/2015 8/14/2015 9/16/2015 $20,000 7/16/2015 $80,000 $60,000 11/14/2014 ($158,664) $20,000 10/16/2014 6/25/2015 $160,000 9/29/2014 6/16/2015 ($180) 7/29/2014 ($72,818) ($544) 7/16/2014 $1,310,000 $170,000 12/16/2013 4/28/2015 $10,000 10/15/2013 5/14/2015 $60,000 Adjustment Date 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 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 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 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 Reason for Adjustment Adjustment Details $39,056,853 $0 $64,340 Borrower’s Incentives $64,605,860 $0 $127,229 Lenders/ Investors Incentives $36,187,527 $0 $59,635 Servicers Incentives TARP Incentive Payments Continued on next page $139,850,240 $0 $251,204 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 449 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 6/30/2016 CAP Adjustment Amount $100,000 $77,600,000 $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 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 ($985) ($3,720,000) ($180,000) ($346) $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) 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 $3,670,000 $100,000 2/16/2012 6/14/2013 $1,600,000 1/13/2012 ($1,250,000) ($1,700,000) 12/15/2011 5/16/2013 $300,000 10/14/2011 ($750,000) $300,000 9/15/2011 4/16/2013 $100,000 8/16/2011 ($2,584) ($332) 6/29/2011 3/25/2013 $300,000 6/16/2011 $6,650,000 $100,000 5/13/2011 ($1,450,000) $1,000,000 4/13/2011 2/14/2013 ($36) 3/16/2011 3/30/2011 3/14/2013 $7,100,000 Adjustment Date $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 $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 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 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 Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 450 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 Name of Institution Spirit of Alaska Federal Credit Union, Fairbanks, AK Date 12/9/2009 Purchase Transaction Type Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $360,000 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 6/30/2016 CAP Adjustment Amount ($27,454) $540,000 $52,945,861 ($520,000) $12,630,000 $11,890,000 $1,352,322 9/16/2014 9/29/2014 11/14/2014 12/29/2014 1/15/2015 2/13/2015 3/16/2015 3/26/2015 $970,000 ($210,000) $6,558,413 $25,010,000 $2,470,000 ($13,592,686) $1,040,000 ($174,419) ($390,000) ($8,920,000) $9,566,276 ($2,510,000) $3,970,965 $10,000 $850,000 ($120,000) 11/16/2015 12/16/2015 12/28/2015 1/14/2016 2/16/2016 2/25/2016 3/16/2016 3/28/2016 4/14/2016 5/16/2016 5/31/2016 6/16/2016 6/27/2016 1/22/2010 3/26/2010 7/14/2010 $100,000 $3,450,000 10/15/2015 $105,500 ($2) ($1,305,498) 9/30/2010 ($390,000) $1,710,000 8/14/2015 $10,523,228 $14,500,000 7/16/2015 9/28/2015 $18,792,626 6/25/2015 9/16/2015 $7,170,000 $18,070,000 5/14/2015 6/16/2015 $1,050,000 ($4,270,000) 8/14/2014 $4,448,221 $230,000 7/29/2014 4/16/2015 ($115,275) 7/16/2014 4/28/2015 $16,450,000 Adjustment Date 9/30/2010 1/6/2011 2/17/2011 $0 $1,305,498 $1,305,500 $1,200,000 $1,100,000 $1,220,000 $370,000 $346,563,664 $342,592,699 $345,102,699 $335,536,423 $344,456,423 $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 Adjusted 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 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 Transfer of cap due 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 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 JULY 27, 2016 451 Purchase Purchase Name of Institution Stanford Federal Credit Union, Palo Alto, CA Statebridge Company, LLC, Denver, CO Date 8/28/2009 12/15/2010 Transaction Type Financial Instrument for Home Loan Modifications Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans $300,000 $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 6/30/2016 CAP Adjustment Amount 12/30/2009 $5,000,000 $4,999,993 ($1,209,889) ($290,111) $5,000,000 9/30/2010 3/23/2011 12/15/2010 ($100) $170,000 ($30,000) ($80,000) ($17) $50,000 $1,240,000 $90,000 ($90) ($10,000) 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 ($34) ($40) 6/28/2012 ($770) ($8,978) $150,000 ($18,319) $330,000 $510,000 ($7,084) $1,310,000 $5,780,000 ($2,009,472) ($20,000) ($759,640) ($2,994,140) 3/26/2014 6/26/2014 7/16/2014 7/29/2014 8/14/2014 9/16/2014 9/29/2014 10/16/2014 12/16/2014 12/29/2014 3/16/2015 3/26/2015 4/28/2015 $60,000 ($30,000) 3/14/2014 ($20,000) 1/16/2014 2/13/2014 $60,000 ($21,773) 12/23/2013 9/27/2013 11/14/2013 ($13) 6/27/2013 $200,000 3/15/2012 $5,599,899 ($85) ($2,500,000) 6/29/2011 ($9) 3/30/2011 11/16/2011 $5,599,984 $100,000 3/16/2011 $7,039,429 $10,033,569 $10,793,209 $10,813,209 $12,822,681 $7,042,681 $5,732,681 $5,739,765 $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 $5,599,993 $5,499,993 ($7) $500,000 1/6/2011 2/16/2011 $0 $290,111 $1,500,000 ($1,900,000) 7/14/2010 $3,400,000 $3,050,000 $370,000 $350,000 $2,680,000 10/2/2009 Adjusted CAP 3/26/2010 $70,000 Adjustment Date 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 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 Reason for Adjustment Adjustment Details $178,450 $0 Borrower’s Incentives $307,894 $0 Lenders/ Investors Incentives $141,739 $0 Servicers Incentives TARP Incentive Payments Continued on next page $628,083 $0 Total TARP Incentive Payments 452 APPENDIX C I TRANSACTION DETAIL I JULY 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 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 6/30/2016 ($362,288) $100,000 ($740,000) ($710,000) $550,556 ($1) ($1) 5/31/2016 6/27/2016 1/22/2010 3/26/2010 7/14/2010 9/30/2010 1/6/2011 3/30/2011 ($130,663) ($2,930) ($590,000) ($18,881) $554,145 ($15,623) 2/25/2016 3/28/2016 5/16/2016 5/31/2016 6/16/2016 6/27/2016 $2,612,666 ($11,773) ($11,798) 9/28/2015 ($4,285) ($6,530) 4/28/2015 6/25/2015 12/28/2015 $2,624,439 ($1,034) $2,396,916 $2,412,539 $1,858,394 $1,877,275 $2,467,275 $2,470,205 $2,600,868 $2,630,969 $2,635,254 $2,636,288 3/26/2015 $2,054,406 $24,565 $581,882 9/29/2014 12/29/2014 $2,029,841 $22,184 7/29/2014 $2,007,657 $1,885,350 $122,307 $12,095 $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 $4,024,269 $4,386,557 $5,019,923 $4,939,923 $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 Adjusted CAP 6/26/2014 3/26/2014 ($35) ($633,366) 5/16/2016 12/23/2013 $80,000 4/14/2016 $13,786 $300,000 3/28/2016 9/27/2013 ($72,124) 3/16/2016 $84,191 $980,000 2/25/2016 6/27/2013 ($2,359,857) 12/28/2015 $235,175 ($816,550) 12/16/2015 3/25/2013 $550,000 11/16/2015 $58,688 $40,000 10/15/2015 12/27/2012 $680,000 9/28/2015 ($11) ($969,232) 9/16/2015 $30,907 $90,000 8/14/2015 9/27/2012 $160,000 6/25/2015 6/29/2011 $30,000 ($711,743) 6/16/2015 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 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 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 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 $385,881 Borrower’s Incentives $663,662 Lenders/ Investors Incentives $404,197 Servicers Incentives TARP Incentive Payments Continued on next page $1,453,740 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 453 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 $880,000 $100,000 $0 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 Financial Instrument for Home Loan Modifications Investment Description Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 6/30/2016 CAP Adjustment Amount ($8) ($96) ($191) 3/26/2014 6/26/2014 7/29/2014 ($63) ($232) 12/23/2013 ($4) ($40) ($30) ($2,465,867) 1/6/2011 3/30/2011 6/29/2011 6/28/2012 8/10/2012 $100,000 ($4) 9/30/2010 1/13/2012 ($742) $1,585,945 6/27/2016 ($159) ($1,242) 5/31/2016 2/25/2016 3/28/2016 ($2,660) ($7,597) 12/28/2015 ($2,691) ($3,595) 6/25/2015 9/28/2015 ($2,879) ($11,347) 3/26/2015 12/29/2014 4/28/2015 ($7,654) 9/29/2014 ($2) 6/28/2012 ($1) ($1) 6/29/2011 9/27/2012 ($1) 9/30/2010 3/25/2013 $45,056 Adjustment Date $100,000 $0 $2,465,867 $2,465,897 $2,465,937 $2,465,941 $2,465,945 $103,895 $104,637 $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 Updated due to quarterly assessment and reallocation 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 454 APPENDIX C I TRANSACTION DETAIL I JULY 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 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 6/30/2016 $10,000 ($670) $20,000 $90,000 $50,000 ($38) $60,000 ($486) $70,000 ($989) $30,000 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 7/29/2014 8/14/2014 ($358) $229,999 ($1) 6/27/2013 ($14,985) $2,040,000 $250,500 $140,000 $4,517 ($184,936) ($161,110) 12/28/2015 1/14/2016 2/25/2016 3/16/2016 3/28/2016 5/31/2016 6/27/2016 ($20,000) ($20,248) 8/14/2015 9/28/2015 ($42,369) ($14,001) 4/28/2015 6/25/2015 ($20,000) ($10,741) 2/13/2015 12/29/2014 3/26/2015 ($28,730) 9/29/2014 $219,999 $120,000 6/14/2013 $2,465,355 $2,626,465 $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 Updated due to quarterly assessment and reallocation 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 $439,104 Borrower’s Incentives $435,766 Lenders/ Investors Incentives $217,353 Servicers Incentives TARP Incentive Payments Continued on next page $1,092,223 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 455 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 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 6/30/2016 $1,160,422 $1,160,399 ($720,000) ($430,000) $60,445 ($1) ($1) ($12) ($9) ($23) ($4) ($13) ($5) ($2) 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 6/27/2013 9/27/2013 ($2,635) 3/28/2016 $10,000 12/8/2010 6/16/2011 $100,000 ($150,000) ($145,056) 9/30/2010 4/21/2010 $45,056 7/14/2010 ($20,000) ($126,159) 2/25/2016 3/26/2010 ($33,352) ($22,713) ($42,234) 9/28/2015 12/28/2015 ($13,568) ($30,757) 6/25/2015 5/31/2016 ($123,650) 4/28/2015 6/27/2016 ($32,953) 3/26/2015 $1,153,193 ($784) ($82,551) 9/29/2014 12/29/2014 $1,153,977 ($1,195) ($2,373) 6/26/2014 7/29/2014 $100,000 $0 $0 $145,056 $100,000 $90,000 $642,621 $656,189 $678,902 $681,537 $807,696 $841,048 $883,282 $914,039 $1,037,689 $1,070,642 $1,156,350 $1,157,545 ($101) 3/26/2014 $1,157,646 ($2,729) 12/23/2013 $1,160,375 $1,160,377 $1,160,382 $1,160,395 $1,160,431 $1,160,443 $1,160,444 $1,160,445 $1,100,000 $1,530,000 $2,250,000 $2,180,000 12/30/2009 Adjusted CAP CAP Adjustment Amount Adjustment Date 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 Updated due to quarterly assessment and reallocation 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 $102,333 Borrower’s Incentives $18,316 $0 $258,118 Lenders/ Investors Incentives $8,436 $0 $81,817 Servicers Incentives TARP Incentive Payments Continued on next page $56,068 $0 $442,268 Total TARP Incentive Payments 456 APPENDIX C I TRANSACTION DETAIL I JULY 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 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 6/30/2016 CAP Adjustment Amount $1,125,205 ($5,668) 12/29/2014 3/26/2015 ($4,496) ($36,694) ($22,867) 3/28/2016 5/31/2016 6/27/2016 $20,000 ($214,916) 2/25/2016 10/16/2014 ($6,050) ($13,076) 9/28/2015 12/28/2015 ($7,804) $20,590 9/29/2014 ($7,282) ($16) 7/29/2014 4/28/2015 ($302) 6/26/2014 6/25/2015 ($84) ($8) 3/25/2013 ($2,412) ($2) 3/26/2014 ($14) 9/27/2012 12/27/2012 12/23/2013 ($9) 6/28/2012 ($4) ($35) 6/29/2011 ($1) ($4) 3/30/2011 6/27/2013 $4,206,546 ($4) 1/6/2011 9/27/2013 $4,206,560 $606,612 9/30/2010 $20,000 $5,030,659 $5,053,526 $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 $4,206,569 $4,206,604 $4,206,608 $4,206,612 $3,600,000 $6,490,000 $40,000 ($2,890,000) $6,450,000 7/14/2010 1/22/2010 Adjusted CAP 3/26/2010 $290,000 Adjustment Date 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 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 $785,537 Borrower’s Incentives $0 $1,608,120 Lenders/ Investors Incentives $0 $759,787 Servicers Incentives TARP Incentive Payments Continued on next page $0 $3,153,444 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 457 Purchase Purchase Name of Institution U.S. Bank National Association, Owensboro, KY Umpqua Bank, Tigard, OR Date 9/9/2009 5/16/2016 Transaction Type $114,220,000 $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 6/30/2016 CAP Adjustment Amount ($160) ($172) ($1,431) ($746) ($1,926) ($308) ($1,135) ($418) ($139) ($212,077) ($6,391) 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 $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) ($90,000) ($100,000) ($1,039,451) ($60,000) ($258,661) $590,000 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 4/14/2016 5/16/2016 5/31/2016 6/16/2016 6/27/2016 5/16/2016 ($5,854) $262,349,198 $26,402,243 12/29/2014 ($554,145) 5/31/2016 $260,181,033 ($39,094) 9/29/2014 6/16/2016 $30,001 $584,146 $590,000 $250,114,310 $250,372,971 $250,432,971 $251,472,422 $251,572,422 $251,662,422 $251,871,044 $252,051,044 $263,341,892 $262,339,198 $258,181,469 $258,161,469 $207,453,290 $207,115,696 $180,713,453 $180,752,547 ($125,785) 7/29/2014 $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 ($71,209) $36,574,444 9/30/2010 $144,600,000 $230,380,000 $188,550,000 $139,140,000 Adjusted CAP 6/26/2014 $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 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 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 $23,833 $42,289,072 Borrower’s Incentives $6,168 $53,188,578 Lenders/ Investors Incentives $0 $32,965,243 Servicers Incentives TARP Incentive Payments Continued on next page $30,001 $128,442,893 Total TARP Incentive Payments 458 APPENDIX C I TRANSACTION DETAIL I JULY 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 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 6/30/2016 ($1,682) ($14,408) ($8,607) 3/28/2016 5/31/2016 6/27/2016 ($58,322) ($5,521) 2/25/2016 ($20,140) 4/28/2015 6/25/2015 ($14,152) ($39,949) 3/26/2015 ($10,474) ($106,224) 12/29/2014 9/28/2015 ($877) 12/28/2015 ($2,655) 7/29/2014 9/29/2014 ($5) 6/27/2013 ($1,337) ($14) 3/25/2013 6/26/2014 ($4) ($113) ($22) 9/27/2012 12/27/2012 3/26/2014 ($8) 6/28/2012 ($2) ($11) 6/29/2011 ($3,221) ($1) 3/30/2011 9/27/2013 $725,235 ($1) 1/6/2011 12/23/2013 $725,257 $25,278 9/30/2010 $437,528 $446,135 $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 $725,265 $725,276 $725,277 $725,278 $700,000 $160,000 3/26/2010 Adjusted CAP CAP Adjustment Amount Adjustment Date Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 $117,917 Borrower’s Incentives $2,652 Lenders/ Investors Incentives $6,600 Servicers Incentives TARP Incentive Payments Continued on next page $127,169 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 459 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 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 6/30/2016 CAP Adjustment Amount $580,211 $580,200 $180,222 ($1) ($1) ($5) ($4) ($11) ($2) ($7) 9/30/2010 1/6/2011 3/30/2011 6/29/2011 6/28/2012 9/27/2012 12/27/2012 3/25/2013 9/30/2010 ($1) ($2,702) $270,334 6/27/2016 ($870,333) 1/6/2011 ($578) ($4,523) 5/31/2016 ($27,664) 2/25/2016 3/28/2016 ($5,546) ($4,104) ($2,461) 9/28/2015 ($10,375) 4/28/2015 6/25/2015 12/28/2015 ($12,708) 3/26/2015 $576,432 ($403) 7/29/2014 ($33,790) ($613) ($1,217) 6/26/2014 9/29/2014 ($52) 3/26/2014 12/29/2014 $576,835 ($1,471) 12/23/2013 2/17/2011 $580,189 $0 $870,333 $870,334 $471,981 $474,683 $479,206 $479,784 $507,448 $511,552 $517,098 $519,559 $529,934 $542,642 $578,052 $578,665 $578,717 $580,188 ($2) ($1) 6/27/2013 9/27/2013 $580,191 $580,198 $580,215 $580,220 $580,221 $580,222 $400,000 $830,000 $400,000 ($430,000) $430,000 7/14/2010 1/22/2010 Adjusted CAP 3/26/2010 $20,000 Adjustment Date Termination of SPA Updated due to quarterly assessment and reallocation Updated portfolio data from servicer Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 $168,901 Borrower’s Incentives $0 $98,565 Lenders/ Investors Incentives $0 $66,578 Servicers Incentives TARP Incentive Payments Continued on next page $0 $334,044 Total TARP Incentive Payments 460 APPENDIX C I TRANSACTION DETAIL I JULY 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 N/A N/A N/A N/A 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 6/30/2016 ($498) ($12,100) ($5,115) ($23,199) ($5,527) ($9,641) ($7,135) ($60,672) 9/29/2014 12/29/2014 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 $400,000 ($5) 6/27/2013 ($721,876) ($14) 3/25/2013 4/23/2014 ($4) ($113) ($22) 9/27/2012 12/27/2012 3/26/2014 $725,210 ($8) 6/28/2012 ($2) ($11) 6/29/2011 ($3,221) ($1) 3/30/2011 9/27/2013 ($1) 1/6/2011 12/23/2013 $725,212 $25,278 9/30/2010 $0 $721,876 $721,989 $725,217 $725,231 $725,235 $725,257 $725,265 $725,276 $725,277 $725,278 $700,000 $400,000 7/14/2010 $60,000 $50,000 $10,000 $50,000 12/16/2013 5/16/2013 $725,277 ($1) ($725,277) 1/6/2011 2/17/2011 $0 $725,278 $25,278 9/30/2010 $700,000 $1,030,000 ($330,000) 3/26/2010 $630,000 $1,188,238 $1,194,164 $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 $1,333,268 $1,233,268 7/14/2010 ($5,926) $30,000 6/27/2016 1/22/2010 ($1,267) ($1,463) 7/29/2014 ($9,920) ($735) 6/26/2014 3/28/2016 ($62) 5/31/2016 ($1,744) 3/26/2014 ($7) 3/25/2013 12/23/2013 ($2) ($3) ($10) 9/27/2012 12/27/2012 ($1) ($3) 6/28/2012 6/27/2013 $1,333,255 $100,000 11/16/2011 9/27/2013 $1,333,265 $233,268 6/29/2011 $1,000,000 $1,000,000 4/13/2011 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 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 Updated due to quarterly assessment and reallocation 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 $344,704 Borrower’s Incentives $0 $1,606 $0 $392,374 Lenders/ Investors Incentives $0 $0 $0 $135,919 Servicers Incentives TARP Incentive Payments Continued on next page $0 $1,606 $0 $872,997 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 461 7/1/2009 Purchase Purchase Purchase Purchase 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 4/14/2010 12/16/2014 2/13/2015 4/13/2009 Purchase Wachovia Mortgage, FSB, Des Moines, IA 7/29/2009 4/14/2016 Purchase Wachovia Bank, N.A., Charlotte , NC WALLICK AND VOLK, Cheyenne, WY Purchase Name of Institution Date Transaction Type $85,020,000 $634,010,000 $0 $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 Financial Instrument for Home Loan Modifications N/A N/A N/A N/A N/A N/A N/A 3 3 3 2 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 6/30/2016 CAP Adjustment Amount 12/30/2009 $9,820,000 $26,160,000 9/30/2009 ($8,413,225) $723,880,000 9/30/2010 12/3/2010 9/30/2009 $692,640,000 ($28,686,775) 7/14/2010 3/12/2010 ($5) ($6) ($3,000,000) ($9) 9/30/2010 1/6/2011 3/30/2011 4/13/2011 6/29/2011 ($7) ($4,352,173) 9/15/2010 $20,000 $6,250 $344,000,000 9/30/2010 3/19/2010 ($287,348,828) $668,108,890 3/12/2010 9/30/2010 $54,767 2/17/2010 $683,130,000 $2,050,236,344 12/30/2009 ($2,038,220,000) $1,213,310,000 9/30/2009 7/14/2010 $65,070,000 6/17/2009 3/26/2010 ($462,990,000) 2/13/2015 12/29/2014 $10,000 ($644,937) 2/27/2014 12/16/2014 ($2) ($2,822) 9/27/2013 ($5) 6/27/2013 12/23/2013 ($3) ($12) 3/25/2013 9/27/2012 12/27/2012 ($19) 6/28/2012 ($150,000) $1,600,000 7/14/2010 $30,000 ($54,767) 2/17/2010 4/14/2016 ($2,050,236,344) 12/30/2009 ($46,200,000) 3/26/2010 ($37,700,000) Adjustment Date $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 $2,410,010,000 $20,000 $16,250 $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 $30,000 $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 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 Transfer of cap due to servicing transfer 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 $645,218,883 $0 $10,000 $0 $5,000 $0 $0 Borrower’s Incentives $1,238,300,813 $0 $0 $0 $8,331 $76,890 $0 Lenders/ Investors Incentives $547,659,126 $0 $3,000 $0 $3,000 $162,000 $0 Servicers Incentives TARP Incentive Payments Continued on next page $2,431,178,822 $0 $13,000 $0 $16,331 $238,890 $0 Total TARP Incentive Payments 462 APPENDIX C I TRANSACTION DETAIL I JULY 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 6/30/2016 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) ($170,000) 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 2/13/2014 $5,077,741,322 $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 Transfer of cap due 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 JULY 27, 2016 463 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 6/30/2016 ($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) ($60,000) ($3,580,000) ($8,187,730) ($3,520,000) ($1,375,486) 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 4/14/2016 5/16/2016 5/31/2016 6/16/2016 6/27/2016 CAP Adjustment Amount Adjustment Date $4,503,343,498 $4,504,718,984 $4,508,238,984 $4,516,426,714 $4,520,006,714 $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 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 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 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 Reason for Adjustment Adjustment Details Borrower’s Incentives Lenders/ Investors Incentives Servicers Incentives TARP Incentive Payments Continued on next page Total TARP Incentive Payments 464 APPENDIX C I TRANSACTION DETAIL I JULY 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 N/A N/A 3 3, 6 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 6/30/2016 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 $372,177 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 9/27/2012 ($192) $16,490,000 9/30/2009 $465,893 ($24) ($2,291) 9/29/2014 12/29/2014 3/26/2015 4/28/2015 ($782) ($3,084) ($732) ($977) ($1,754) ($11,517) 3/26/2015 4/28/2015 6/25/2015 9/28/2015 12/28/2015 2/25/2016 ($1,876) ($2,081) 12/29/2014 6/27/2016 ($79) 9/29/2014 ($401) ($240) 7/29/2014 ($3,141) ($121) 6/26/2014 5/31/2016 ($10) 3/26/2014 3/28/2016 ($1) ($290) ($1) 9/27/2012 3/25/2013 $17,687 6/29/2011 12/23/2013 ($12,612) $200,000 6/27/2016 4/13/2011 ($2,337) ($19,537) 3/28/2016 2/25/2016 5/31/2016 ($5,747) ($97,095) 12/28/2015 ($2,058) ($76) 7/29/2014 ($5,008) ($207) 6/26/2014 6/25/2015 ($102) 3/26/2014 9/28/2015 ($8) 12/23/2013 $330,000 Adjustment Date $190,600 $192,476 $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 $217,685 $217,686 $217,687 $200,000 $2,359,653 $2,372,265 $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 $2,040,862 $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 Updated due to quarterly assessment and reallocation Updated due to quarterly assessment and reallocation 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 Updated due to quarterly assessment and reallocation 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 $687,676 Borrower’s Incentives $74,554 $934,522 Lenders/ Investors Incentives $22,917 $312,225 Servicers Incentives TARP Incentive Payments Continued on next page $128,638 $1,934,423 Total TARP Incentive Payments TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 465 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 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 6/30/2016 CAP Adjustment Amount ($286,510,000) ($1,880,000) 5/14/2010 $19,540,000 ($210,000) ($100,000) $68,565,782 ($247) ($294) ($2,779) ($162,895,068) 6/16/2010 $52,270,000 12/30/2009 ($10,280,000) $119,700,000 9/30/2009 4/19/2010 ($249,670,000) 6/12/2009 3/26/2010 ($742) $87,130,000 6/27/2016 ($159) ($1,242) 5/31/2016 2/25/2016 3/28/2016 ($2,660) ($7,597) 12/28/2015 ($2,691) ($3,595) 6/25/2015 9/28/2015 ($2,879) ($11,347) ($7,654) 12/29/2014 3/26/2015 ($63) 9/29/2014 4/28/2015 ($96) ($191) ($8) 3/26/2014 7/29/2014 ($232) 12/23/2013 6/26/2014 ($2) 6/28/2012 ($1) ($1) 6/29/2011 9/27/2012 ($1) 9/30/2010 3/25/2013 $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 $103,895 $104,637 $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 Updated due to quarterly assessment and reallocation 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 466 APPENDIX C I TRANSACTION DETAIL I JULY 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 N/A Cap of Incentive Payments on Behalf of Borrowers and to Servicers & Lenders/Investors Pricing (Cap) * Mechanism Note (CONTINUED) CAP Adjustment Amount ($2) 6/27/2013 $3,950,353,798 Total CAP $27,781,923,798 Total CAP Adjustments ($4,031) ($48,871) 2/25/2016 6/27/2016 ($9,568) ($1,021) ($11,549) 9/28/2015 12/28/2015 ($6,747) ($8,455) 3/28/2016 ($50,158) 4/28/2015 6/25/2015 5/31/2016 ($12,544) 3/26/2015 $432,078 ($333) ($33,311) 9/29/2014 7/29/2014 12/29/2014 $432,411 ($507) ($1,008) 6/26/2014 $245,823 $249,854 $256,601 $257,622 $306,493 $316,061 $327,610 $336,065 $386,223 $398,767 $433,419 $433,926 ($43) 3/26/2014 $433,969 ($1,174) $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 12/23/2013 ($1) 3/25/2013 9/27/2013 ($1) ($5) 12/27/2012 ($3) ($4) 6/29/2011 ($7) ($1) 1/6/2011 6/28/2012 $235,167 9/30/2010 9/27/2012 $1,360,000 ($1,810,000) 12/30/2009 3/26/2010 $350,000 10/2/2009 7/14/2010 $60,000 Adjustment Date $3,729,310,091 $37,412 Borrower’s Incentives $7,785,409,319 $39,363 Lenders/ Investors Incentives $3,254,251,458 $51,573 Servicers Incentives TARP Incentive Payments $14,768,970,868 $128,348 Total TARP Incentive Payments Source: Treasury, Transactions Report-Housing Programs, 6/28/2016. * 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 On 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. 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 02/01/2011. 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 Updated due to quarterly assessment and reallocation 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 6/30/2016. Numbered notes are taken verbatim from Treasury’s 6/28/2016, Transactions Report-Housing Programs. Name of Institution Date Servicer Modifying Borrowers’ Loans HAMP TRANSACTION DETAIL, AS OF 6/30/2016 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 467 6/23/2010 8/3/2010 8/3/2010 9/29/2010 4/1/2016 6/1/2016 3 4 6 9/23/2010 9/29/2010 Kentucky Housing Corporation, Frankfort, KY Alabama Housing Finance Authority, Montgomery, AL Purchase Purchase Financial Instrument for HHF Program 9/23/2010 3 Financial Instrument for HHF Program 5/3/2016 5 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 9/29/2010 3 Financial Instrument for HHF Program 9/23/2010 2 Purchase Financial Instrument for HHF Program 8/3/2010 SC Housing Corp, Columbia, SC Financial Instrument for HHF Program 6/1/2016 6 Financial Instrument for HHF Program 9/29/2010 3 Financial Instrument for HHF Program 9/23/2010 Financial Instrument for HHF Program 2 Purchase Financial Instrument for HHF Program 6/28/2016 7 Rhode Island Housing and Mortgage Finance Corporation, Providence, RI Financial Instrument for HHF Program 4/1/2016 4 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 Oregon Affordable Housing Assistance Corporation, Salem, OR Financial Instrument for HHF Program 6/28/2016 7 Financial Instrument for HHF Program 9/29/2010 3 Financial Instrument for HHF Program 9/23/2010 Financial Instrument for HHF Program 2 Purchase Financial Instrument for HHF Program 6/1/2016 6 Ohio Homeowner Assistance LLC, Columbus, OH Financial Instrument for HHF Program 4/1/2016 4 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 $188,106,491 Financial Instrument for HHF Program 6/1/2016 - $55,588,050 - $60,672,471 - - $138,000,000 - - $43,000,000 - - $88,000,000 - - $172,000,000 - - $159,000,000 $27,955,713 $30,148,245 $93,313,825 - $101,848,874 - $22,030,274 $98,659,200 $58,772,347 - $36,623,730 $22,780,803 $13,570,770 - $58,110,108 $36,425,456 $82,748,571 $49,294,215 - $191,906,968 $249,666,235 $148,728,864 - $145,709,333 $78,016,445 $202,907,565 $120,874,221 $74,491,816 $215,644,179 6 Financial Instrument for HHF Program - 4/1/2016 Financial Instrument for HHF Program 4 Purchase 9/29/2010 $128,461,559 3 - - $28,282,519 $142,666,006 - $77,896,538 $400,974,381 $238,864,755 - $169,769,247 $213,489,977 $799,477,026 $476,257,070 - $8,885,641 $57,169,659 $34,056,581 - Additional Investment Amount 9/23/2010 $154,500,000 - $125,100,000 - - $418,000,000 - - $699,600,000 - - $102,800,000 Initial Investment Amount 2 Michigan Homeowner Assistance Nonprofit Housing Corporation, Lansing, MI Financial Instrument for HHF Program 6/23/2010 Financial Instrument for HHF Program Financial Instrument for HHF Program 5/3/2016 5 Financial Instrument for HHF Program 9/29/2010 3 Purchase Financial Instrument for HHF Program 6/23/2010 Arizona (Home) Foreclosure Prevention Funding Corporation, Phoenix, AZ Financial Instrument for HHF Program 5/3/2016 5 Financial Instrument for HHF Program 9/29/2010 3 Financial Instrument for HHF Program 9/23/2010 Financial Instrument for HHF Program 2 Purchase Financial Instrument for HHF Program 6/1/2016 6 Florida Housing Finance Corporation, Tallahassee, FL Financial Instrument for HHF Program 4/1/2016 4 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 6/28/2016 7 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 6/30/2016 TABLE C.14 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 N/A N/A N/A N/A N/A N/A Pricing Mechanism Continued on next page $207,005,833 $162,521,345 $317,461,821 $115,975,303 $314,578,350 $762,302,067 $706,507,564 $761,204,045 $296,048,525 $1,135,735,674 $2,358,593,320 $202,911,881 Investment Amount1 468 APPENDIX C I TRANSACTION DETAIL I JULY 27, 2016 4/1/2016 6/28/2016 4 7 Tennessee Housing Development Agency, Nashville, TN Purchase Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program 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 $125,000,000 $125,000,000 Total Investment Amount $1,025,000,000 $8,117,000,000 Investment Amount Total Investment Amount $32,794,226 $51,945,211 $136,187,333 - $8,047,933 $12,970,520 - $114,585,818 $188,347,507 - $269,474,060 $279,250,831 - $33,454,975 $28,565,323 $138,931,280 - $30,880,575 $212,604,832 - $23,063,338 $19,340,040 $63,851,373 - Additional Investment Amount ($900,000,000) ($7,092,000,000) - Investment Adjustments 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 N/A N/A N/A Pricing Mechanism $9,600,000,000 $302,055,030 $28,745,131 $415,133,962 $715,077,617 $283,714,437 $370,136,394 $144,291,701 Investment Amount1 Source: Treasury, Transactions Report-Housing Programs, 6/28/2016. 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. Notes: Numbers may be affected by rounding. Data as of 6/30/2016. Numbered notes are taken verbatim from Treasury’s 6/28/2016, Transactions Report-Housing Programs. Date Note FHA SHORT REFINANCE PROGRAM, AS OF 6/30/2016 TABLE C.15 Source: Treasury, Transactions Report-Housing Programs, 6/28/2016. Initial Investment Amount 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 4 4/1/2016, Treasury provided additonal investment to this HFA and substituted its investment for an amended and restated Financial Instrument. On 5 5/3/2016, Treasury provided additonal investment to this HFA and substituted its investment for an amended and restated Financial Instrument. On 6 6/1/2016, Treasury provided additonal investment to this HFA and substituted its investment for an amended and restated Financial Instrument. On 7 6/28/2016, Treasury provided additonal investment to this HFA and substituted its investment for an amended and restated Financial Instrument. On 3 2 1 - $81,128,260 - $7,726,678 - $112,200,637 - $166,352,726 - $82,762,859 - $126,650,987 - $38,036,950 Initial Investment Amount (CONTINUED) Notes: Numbers may be affected by rounding. Data as of 6/30/2016. Numbered notes are taken verbatim from Treasury’s 6/28/2016, Transactions Report-Housing Programs. 9/29/2010 Financial Instrument for HHF Program 9/23/2010 3 Financial Instrument for HHF Program 6/1/2016 6 Financial Instrument for HHF Program 9/29/2010 3 Purchase Financial Instrument for HHF Program 9/23/2010 District of Columbia Housing Finance Agency, Washington, DC Financial Instrument for HHF Program 6/28/2016 7 Financial Instrument for HHF Program 9/29/2010 3 Purchase Financial Instrument for HHF Program 9/23/2010 New Jersey Housing and Mortgage Finance Agency, Trenton, NJ Financial Instrument for HHF Program 6/1/2016 6 Financial Instrument for HHF Program 9/29/2010 3 Purchase Financial Instrument for HHF Program 9/23/2010 Illinois Housing Development Authority, Chicago, IL Financial Instrument for HHF Program 6/28/2016 7 Financial Instrument for HHF Program 4/1/2016 4 Financial Instrument for HHF Program 9/29/2010 3 Purchase Financial Instrument for HHF Program 9/23/2010 Indiana Housing and Community Development Authority, Indianapolis, IN Financial Instrument for HHF Program 5/3/2016 5 Financial Instrument for HHF Program 9/29/2010 3 Purchase Financial Instrument for HHF Program 9/23/2010 GHFA Affordable Housing, Inc., Atlanta, GA Financial Instrument for HHF Program 6/28/2016 7 Financial Instrument for HHF Program Financial Instrument for HHF Program Financial Instrument for HHF Program Investment Description 5/3/2016 Purchase Transaction Type 5 Mississippi Home Corporation, Jackson, MS Name of Institution 9/29/2010 9/23/2010 Date 3 Note Seller HARDEST HIT FUND (HHF) PROGRAM TRANSACTION DETAIL, AS OF 6/30/2016 TRANSACTION DETAIL I APPENDIX C I JULY 27, 2016 469 470 APPENDIX D I MHA SUPPLEMENTAL DATA I JULY 27, 2016 TABLE D.1 BREAKDOWN OF TARP EXPENDITURES, AS OF 6/30/2016 ($ MILLIONS) MHA TARP Expenditures HAMP HAMP First Lien Modification Incentives Servicer Incentive Payment $815.7 Servicer Current Borrower Incentive Payment Annual Servicer Incentive Payment $17.1 $1,596.6 Investor Current Borrower Incentive Payment $76.2 Investor Monthly Reduction Cost Share $3,878.3 Annual Borrower Incentive Payment $1,950.8 Borrower Sixth Year Bonus Payment $935.5a Tier 2 Incentive Payments $469.9 Streamline HAMP Incentive Payments $2.2 HAMP First Lien Modification Incentives Total $9,742.3 PRA $2,199.3 HPDP UP $383.1 $—b HAMP Program Incentives Total $12,324.7 HAFA Incentives Servicer Incentive Payment $319.7 Investor Reimbursement $274.0 Borrower Relocation $621.8 HAFA Incentives Total $1,215.5 Second-Lien Modification Program Incentives 2MP Servicer Incentive Payment $77.3 2MP Annual Servicer Incentive Payment $57.7 2MP Annual Borrower Incentive Payment $67.8 2MP Investor Cost Share $340.1 2MP Investor Incentive $379.0 Second-Lien Modification Program Incentives Total $921.9 Treasury/FHA-HAMP Incentives MHA SUPPLEMENTAL DATA Annual Servicer Incentive Payment $153.2 Annual Borrower Incentive Payment $150.2 Borrower Sixth Year Bonus Payment Treasury/FHA-HAMP Incentives Total RD-HAMP FHA2LP MHA Incentives Total HHF Disbursements (Drawdowns by State HFAs) FHA Short Refinance (Loss-Coverage) Total Expenditures $—c $306.3 $—d $— $14,769.0 $6,563.8 $20.6 $21,353.4 Notes: Numbers may not total due to rounding. a Includes $365.2 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 $2,820,000 through June 30, 2016. d RD-HAMP expenditures equal $580,078 as of June 30, 2016. Source: Source: Treasury, responses to SIGTARP data calls, 7/5/2016, and 7/21/2016. MHA SUPPLEMENTAL DATA I APPENDIX D I JULY 27, 2016 TABLE D.2 TARP INCENTIVE PAYMENTS BY 10 SERVICERS, HAMP ONLY, AS OF 6/30/2016 ($ MILLIONS) Incentive Payments to Borrowers Incentive Payments to Investors Incentive Payments to Servicers Total Incentive Payments Ocwen Loan Servicing, LLCa $666.9 $2,121.0 $674.7 $3,462.7 JPMorgan Chase Bank, NAb 456.4 1,155.2 417.6 2,029.3 Wells Fargo Bank, N.A. 457.9 1,093.5 417.9 1,969.3 325.5 659.5 330.8 1,315.8 e 241.3 407.0 167.0 815.3 Select Portfolio Servicing, Inc. 204.0 387.1 185.8 776.9 CitiMortgage Inc d Bank of America, N.A.c Nationstar Mortgage LLC 127.9 245.6 120.0 493.5 CIT Bank, N.A.f 56.4 205.4 78.9 340.7 Bayview Loan Servicing LLC 44.6 98.4 29.1 172.0 Ditech Financial LLC 95.2 21.6 16.0 132.7 Other Servicers Total 210.3 398.0 208.3 816.6 $2,886.3 $6,792.3 $2,646.1 $12,324.7 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, June 2016. 471 472 APPENDIX D I MHA SUPPLEMENTAL DATA I JULY 27, 2016 TABLE D.3 HAMP TIER 1 PERMANENT MODIFICATIONS WITH SCHEDULED PAYMENT INCREASES BY YEAR, AS OF 5/31/2016 Year Modified Total Active Permanent Modifications Permanent Modifications with Scheduled Payment Increases Interest Ratea Median Increase Monthly Paymenta 2010 $719 5.00% 6.50% 2.98% $989 176,346 After Modification 2.00% 5.00% $756 6.38% $1,455 After Modification 2.00% $805 2.75% After All Increases 2013 2.00% $793 3.88% 6.00% $962 48,805 After Modification 2.00% 3.50% 6.13% $1,322 After Modification 2.00% $764 2.00% $740 3.88% 5.88% $901 After Modification 2.00% 3.75% 6.38% $154 $1,427 After Modification 2.00% $774 After All Increases 691,733 $193 $1,232 Before Modification 841,429 11,071 After Modification 1.75% $968 $151 $1,279 After All Increases All Years 17,435 6.00% After All Increases 2016 4.25% Before Modification 32,943 2.25% $944 After All Increases 50,052 $159 $778 1.50% Before Modification 2015 $232 $1,413 Before Modification 68,930 75,720 After Modification $249 $1,463 1.63% $1,049 After All Increases 2014 110,381 6.25% After All Increases 99,006 4.63% Before Modification 132,563 2.50% $1,019 Before Modification 2012 $258 $1,450 Before Modification 196,544 224,924 2.00% Median After All Increases 2011 241,038 After Modification Median Increase $1,416 After All Increases 22,918 6.62% Before Modification 24,486 Median Before Modification 2009 Modification Status $735 4.50% 1.75% 2.25% $888 $997 $145 $206 Notes: a Analysis of HAMP permanent modifications with scheduled interest rate and payment increases excludes 55,064 HAMP permanent modifications with incomplete records. Source: SIGTARP analysis of Treasury HAMP data. HAMP Permanent Modifications Started in 2010 HAMP Permanent Modifications Started in 2011 HAMP Permanent Modifications Started in 2012 24,486 24,485 24,479 2015 2016 2017 5,394 17,929 20,001 21,426 5.3% 5.0% 4.0% 3.0% 0.3% 1.0% 1.0% 1.0% $1,009 $975 $901 $812 $19 $90 $94 $91 240,772 240,961 241,026 241,035 26,453 165,247 185,922 200,305 5.1% 5.0% 4.0% 3.0% $942 $854 0.1% $1,000 0.9% $1,006 1.0% 1.0% $16 $77 $96 $94 196,537 195,957 196,273 196,460 156,054 101 117,252 141,976 3.0% 5.1% 4.6% 4.0% 1.0% $906 $998 0.1% $972 0.6% $1,044 1.0% $98 $10 $58 $100 132,491 131,885 132,140 132,361 93,315 HAMP Permanent Modifications Started in 2014 HAMP Permanent Modifications Started in 2015 3.0% 1.0% $892 $856 $953 0.1% $1,110 0.1% 0.8% HAMP Permanent Modifications Started in 2016 5.1% 4.1% 3.9% $95 $24 $14 $71 110,217 109,562 2021 31 20,280 66,254 74,493 5.8% 4.4% 3.5% 3.0% 0.6% 0.4% 0.5% 1.0% $1,600 $988 $924 $873 $58 $34 $57 $92 68,682 68,119 68,338 68,523 47,666 19 36,100 43,343 3.0% 4.4% 4.3% 4.0% 1.0% 0.4% 0.3% 1.0% $857 $893 $968 $946 $90 $38 $25 $94 49,501 49,666 49,799 1,359 29,063 32,475 4.1% 3.9% 3.0% 0.1% 0.9% 1.0% $905 $906 $830 $88 $13 $76 3.8% 3.0% 4.0% 9,643 10,935 19 17,238 17,294 17,193 0.5% 0.8% 1.0% $561 $894 $822 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 55,064 permanent modifications with incomplete records. 2023 2022 110,064 109,846 2019 2020 2018 2017 2016 2015 2014 $22 $70 $85 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 13 2,194 82,348 HAMP PERMANENT MODIFICATIONS WITH SCHEDULED PAYMENT INCREASES, ANNUAL, AS OF 5/31/2016 (CONTINUED) 2023 2022 2021 2020 2019 2018 24,486 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 a Median Increase Median Increase Modifications a Median Increase Median Increase Modifications a Median Increase Median Increase Modifications Increase Modifications Increases Increases Increasesa Median Increase Median Increase Increases HAMP Permanent Modifications Started in 2009 HAMP PERMANENT MODIFICATIONS WITH SCHEDULED PAYMENT INCREASES, ANNUAL, AS OF 5/31/2016 TABLE D.4 MHA SUPPLEMENTAL DATA I APPENDIX D I JULY 27, 2016 473 474 APPENDIX D I MHA SUPPLEMENTAL DATA I JULY 27, 2016 TABLE D.5 HAMP TIER 1 PERMANENT MODIFICATIONS WITH SCHEDULED PAYMENT INCREASES, AS OF 5/31/2016 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 4,349 2,941 68% $100 $926 369 278 75% 172 756 29,038 24,639 85% 191 1,058 Arkansas 1,720 1,258 73% 100 746 California 216,053 188,290 87% 310 1,788 Colorado 10,538 8,529 81% 179 1,128 Connecticut 11,422 9,102 80% 198 1,265 2,503 1,955 78% 167 814 Florida 110,524 90,387 82% 170 1,336 Georgia 29,076 22,752 78% 138 1,049 Guam 10 7 70% 65 167 Hawaii 3,396 2,820 83% 377 1,258 Idaho 2,889 2,349 81% 163 879 Illinois 43,716 36,146 83% 178 1,556 Indiana 7,345 5,228 71% 95 1,108 Iowa 1,712 1,272 74% 94 667 Kansas 1,819 1,357 75% 110 999 Kentucky 2,946 2,138 73% 96 804 Louisiana 4,498 3,180 71% 102 924 Maine 2,263 1,796 79% 143 709 Maryland 26,867 21,750 81% 250 1,378 Massachusetts 19,820 16,512 83% 237 1,215 Michigan 22,584 18,134 80% 125 1,301 Minnesota 11,839 9,983 84% 176 1,218 Mississippi 2,706 1,746 65% 91 800 Missouri 7,414 5,450 74% 109 894 Montana 857 695 81% 168 1,009 1,002 735 73% 91 673 17,393 14,880 86% 217 1,114 3,498 2,884 82% 179 852 New Jersey 29,291 24,649 84% 236 1,347 New Mexico 2,871 2,250 78% 143 970 State Alabama Alaska Arizona Delaware Nebraska Nevada New Hampshire Continued on next page MHA SUPPLEMENTAL DATA I APPENDIX D I JULY 27, 2016 HAMP TIER 1 PERMANENT MODIFICATIONS WITH SCHEDULED PAYMENT INCREASES, AS OF 5/31/2016 (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 49,543 42,066 85% $298 $1,586 North Carolina 14,424 10,922 76% 118 986 112 84 75% 108 461 16,905 12,752 75% 100 1,002 Oklahoma 1,807 1,243 69% 87 667 Oregon 9,316 7,781 84% 197 1,682 Pennsylvania 17,915 13,396 75% 130 1,014 Puerto Rico 3,066 2,789 91% 95 987 Rhode Island 4,117 3,388 82% 193 888 South Carolina 7,499 5,544 74% 121 1,094 245 194 79% 126 822 7,849 5,406 69% 100 1,082 Texas 22,004 15,469 70% 99 1,138 Utah 6,429 5,379 84% 206 1,157 750 588 78% 153 871 10 8 80% 166 229 Virginia 19,131 15,609 82% 235 1,425 Washington 17,991 15,135 84% 228 1,095 District of Columbia 1,419 1,196 84% 265 1,002 West Virginia 1,027 812 79% 128 586 Wisconsin 7,218 5,647 78% 125 979 324 233 72% 165 869 841,429 691,733 82% $206 $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 55,064 HAMP permanent modifications with incomplete records. Source: SIGTARP analysis of Treasury HAMP data. 475 476 APPENDIX D I MHA SUPPLEMENTAL DATA I JULY 27, 2016 TABLE D.6 HAMP TIER 1 PERMANENT MODIFICATION REDEFAULT ACTIVITY, AS OF 6/30/2016 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 16,431 787,402 13,849 284,094 35% Total 787,402 284,094 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 3,869 653,893 9,018 219,248 32% Total 653,893 219,248 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 20,300 1,441,295 22,867 503,342 34% Total 1,441,295 503,342 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 June 30, 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 – June 2016,” accessed 7/20/2016; 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. MHA SUPPLEMENTAL DATA I APPENDIX D I JULY 27, 2016 TABLE D.7 ADDITIONAL MAKING HOME AFFORDABLE (“MHA”) HOUSING SUPPORT PROGRAMS, AS OF 6/30/2016 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) — 215,553b 156,507b $2.2 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. — 229,844b 133,273b 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. 158,789 80,756 0.92 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. 121,327 85,233 0.31 7/30/2009c Continued on next page 477 478 APPENDIX D I MHA SUPPLEMENTAL DATA I JULY 27, 2016 ADDITIONAL MAKING HOME AFFORDABLE (“MHA”) HOUSING SUPPORT PROGRAMS, AS OF 6/30/2016 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. — 242 165 —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. — 746 532 —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 June 30, 2016, $580,078 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, 4/4/2016, and 7/5/2016; Treasury, Treasury, “2MP Program Inventory – Program Type by Payor – June 2016,“ accessed 7/20/2016; Treasury, “FHA & RD HAMP Trial Starts – Program Summary – June 2016,” accessed 7/20/2016; 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, 4/11/2016, and 7/14/2016; 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. 392,129 114,227 90,938 50,795 41,519 3,570 2011 2012 2013 2014 2015 2016 510,491 170,075 2010 81,478 35,719 22,114 10,594 (7,588) 2011 2012 2013 2014 2015 2016 902,620 138,072 2010 308,147 195,705 126,657 72,909 52,113 (4,018) 2010 2011 2012 2013 2014 2015 2016 Total 563,828 2009 Total 287,839 2009 Total 275,989 2009 2,217,961 2,217,961 2,221,979 2,169,866 2,096,957 1,970,300 1,774,595 1,466,448 902,620 1,078,719 1,078,719 1,086,307 1,075,713 1,053,599 1,017,880 936,402 798,330 510,491 1,139,242 1,139,242 1,135,672 1,094,153 1,043,358 952,420 838,193 668,118 392,129 Cumulative (21,748) 3,567 3,624 6,655 10,876 27,452 686,058 48,451 (10,660) 2,690 1,742 4,446 4,814 10,654 383,448 24,731 (11,088) 877 1,882 2,209 6,062 16,798 302,610 23,720 Annual 764,935 764,935 786,683 783,116 779,492 772,837 761,961 734,509 48,451 421,865 421,865 432,525 429,835 428,093 423,647 418,833 408,179 24,731 343,070 343,070 354,158 353,281 351,399 349,190 343,128 326,330 23,720 Cumulative Trials Cancelleda 11,731 11,731 14,301 23,282 40,193 62,111 79,307 152,289 787,231 2,961 3,758 7,694 13,551 25,775 36,391 77,396 442,455 8,770 10,543 15,588 26,642 36,336 42,916 74,893 344,776 Annual Trials Active 20,300 57,527 86,196 141,920 202,025 353,677 512,712 66,938 3,869 11,840 26,229 43,497 87,280 168,423 269,450 43,305 16,431 45,687 59,967 98,423 114,745 185,254 243,262 23,633 Annual 1,441,295 1,441,295 1,420,995 1,363,468 1,277,272 1,135,352 933,327 579,650 66,938 653,893 653,893 650,024 638,184 611,955 568,458 481,178 312,755 43,305 787,402 787,402 770,971 725,284 665,317 566,894 452,149 266,895 23,633 Cumulative Trials Converted to Permanent 22,867 52,975 68,428 83,403 108,089 110,367 56,745 468 9,018 20,533 27,122 33,990 49,229 51,287 27,730 339 13,849 32,442 41,306 49,413 58,860 59,080 29,015 129 Annual 503,342 503,342 480,475 427,500 359,072 275,669 167,580 57,213 468 219,248 219,248 210,230 189,697 162,575 128,585 79,356 28,069 339 284,094 284,094 270,245 237,803 196,497 147,084 88,224 29,144 129 Cumulative Permanents Redefaulted 24,507 32,466 16,539 14,113 6,769 2,101 802 5 (49,727) 20,945 10,905 10,592 5,271 1,442 569 3 7,852 11,521 5,634 3,521 1,498 659 233 2 Annual 97,302 97,302 72,795 40,329 23,790 9,677 2,908 807 5 66,382 0 49,727 28,782 17,877 7,285 2,014 572 3 30,920 30,920 23,068 11,547 5,913 2,392 894 235 2 Cumulative Permanents Paid Offb (29,260) (31,861) 1,225 44,403 87,168 241,209 455,165 66,465 (22,335) (31,064) (11,799) (1,085) 32,780 115,694 241,151 42,963 (6,925) (797) 13,024 45,488 54,388 125,515 214,014 23,502 Annual 834,514 834,514 863,774 895,635 894,410 850,007 762,839 521,630 66,465 366,305 366,305 388,640 419,704 431,503 432,588 399,808 284,114 42,963 468,209 468,209 475,134 475,931 462,907 417,419 363,031 237,516 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 - June 2016,” accessed 7/20/2016; 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 June 30, 2016. a A s a result of Treasury’s recent data quality initiatives, it identified a population of loans that were erroneously duplicated in the MHA system of record. This quarter those records were remediated this past reporting cycle, resulting in a net decrease of trial starts and trials cancelled. b Analysis excludes 6,216 HAMP modifications withdrawn. Total GSE TARP Annual Trials Starteda ANNUAL AND CUMULATIVE HAMP TIER 1 MODIFICATION ACTIVITY, AS OF 6/30/2016 TABLE D.6 MHA SUPPLEMENTAL DATA I APPENDIX D I JULY 27, 2016 479 480 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 TABLE E.1 CPP-RELATED DIVIDEND RATE INCREASES, AS OF 6/30/2016 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 5,454,120 23 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 5,458,508 29 Cecil Bancorp, Inc. Elkton, MD 12/23/2008 11,560,000 4,797,400 26 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 2,884,613 27 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 22 763,353 30 6,959,475 18 481,250 11 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 CPP-RELATED DIVIDEND RATE INCREASES, AS OF 6/30/2016 481 (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 6,797,520 23 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 1,786,080 24 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 1,287,510 20 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 482 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 CPP-RELATED DIVIDEND RATE INCREASES, AS OF 6/30/2016 Institutiona Location Investment Date U.S. Century Bank Miami, FL Chambers Bancshares, Inc.d Danville, AR OneFinancial Corporatione Little Rock, AR Suburban Illinois Bancorp, Inc.f Elmhurst, IL Wichita, KS Baxter, MN Baltimore, MD 7/17/2009 Covenant Financial Corporation Clarksdale, MS Minneapolis, MN Chicago, IL Kingman, AZ Granby, CO 5/29/2009 SouthFirst Bancshares, Inc. Sylacauga, AL Little Rock, AR 9/18/2009 Hattiesburg, MS 24 3,076,000 1,382,420 28 472,365 6 299,255 11 9/25/2009 Fort Worth, TX 14 2,516,000 5/15/2009 Iselin, NJ 2,466,660 6,800,000 6/12/2009 Riverside Bancshares, Inc.i 17 7/24/2009 Grand Mountain Bancshares, Inc. 8,018,964 7/31/2009 Community Bancshares, Inc. $17,300,000 6/19/2009 Chicago Shore Corporation 21 6/5/2009 Duke Financial Group, Inc. $15,378,590 Outstanding Capital Amount 7/17/2009 Harbor Bankshares Corporation Number of Missed Dividend Paymentsb 5/15/2009 Great River Holding Companyg Value of Missed Dividend/Interest Paymentsb 6/19/2009 Equity Bancshares, Inc. (First Community Bancshares, Inc.) (CONTINUED) 12/4/2009 h 8/7/2009 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). CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 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 30 763,353 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, 7/11/2016. 483 484 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 TABLE E.3 CPP-RELATED MISSED DIVIDEND AND INTEREST PAYMENTS, AS OF 6/30/2016 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 30 $763,353 $763,353 Interest 29 5,458,508 5,458,508 Grand Mountain Bancshares, Inc. Cumulative 28 1,382,420 1,382,420 Citizens Commerce Bancshares, Inc. Cumulative 27 2,884,613 2,884,613 Cecil Bancorp, Inc. Cumulative 26 4,797,400 4,797,400 Harbor Bankshares Corporation** Cumulative 24 2,686,000 2,516,000 Pinnacle Bank Holding Company Cumulative 24 1,786,080 1,786,080 Tidelands Bancshares, Inc Cumulative 23 5,454,120 5,454,120 Allied First Bancorp, Inc. Cumulative 20 1,287,510 1,287,510 OneFinancial Corporation*,** Non-Cumulative 17 8,018,964 8,018,964 Non-Cumulative 23 $1,059,242 $1,059,242 City National Bancshares Corporation Cumulative 22 2,973,285 2,973,285 Liberty Shares, Inc. Cumulative 23 6,797,520 6,797,520 Goldwater Bank, N.A. Non-Cumulative 22 923,640 923,640 HCSB Financial Corporation Cumulative 21 4,287,588 4,287,588 CalWest Bancorp***** Cumulative 21 1,658,213 1,658,213 Prairie Star Bancshares, Inc. Cumulative 21 913,150 913,150 United American Bank Non-Cumulative 21 2,482,702 2,482,702 Exchanges, Sales, Recapitalizations, and Failed Banks Lone Star Bank***** ***** **,***** ***** ***** U.S. Century Bank Non-Cumulative 21 15,378,590 15,378,590 Rising Sun Bancorp**** 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 Premier Service Bank***** Non-Cumulative 18 4,000,000 977,972 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 **** ***** ***** ***** **** ***** Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 CPP-RELATED MISSED DIVIDEND AND INTEREST PAYMENTS, AS OF 6/30/2016 Dividend or Payment Type Number of Missed Payments US Metro Bank**,***** Non-Cumulative Syringa Bancorp Cumulative Company **** Observers Assigned to Board of Directors2 485 (CONTINUED) Value of Missed Payments3 Value of Unpaid Amounts3,4,5 17 $891,540 $891,540 17 1,853,000 1,853,000 Market Bancorporation, Inc. Cumulative 16 449,080 449,080 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 ***** Bridgeview Bancorp, Inc. ***** Madison Financial Corporation 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 Cumulative 14 2,864,575 2,864,575 Dickinson Financial Corporation II Cumulative 14 27,859,720 27,859,720 ***** ***** 1st FS Corporation ***** ***** FC Holdings, Inc. Cumulative 14 4,013,730 4,013,730 Ridgestone Financial Services, Inc.***** Cumulative 14 2,079,175 2,079,175 Fidelity Federal Bancorp***** Cumulative 14 1,229,924 1,229,924 Premierwest Bancorp Cumulative 14 7,245,000 7,245,000 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 Citizens Bancshares Co. (MO) Cumulative 12 4,086,000 4,086,000 Northwest Bancorporation, Inc.***** Cumulative 12 1,716,750 1,716,750 ***** ***** *,**,***** **** Continued on next page 486 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 CPP-RELATED MISSED DIVIDEND AND INTEREST PAYMENTS, AS OF 6/30/2016 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 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 Atlantic Bancshares, Inc. 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 Commonwealth Business Bank***** Non-Cumulative 10 1,049,250 1,049,250 Community 1st Bank***** Non-Cumulative 10 2,550,000 323,994 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 SouthCrest Financial Group, Inc. Cumulative 9 1,581,863 1,581,863 Citizens Bancorp**** 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 **** ***** ***** ***** *,***** ***** ***** ***** *,**,***** ***** **** ***** *,**,***** Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 CPP-RELATED MISSED DIVIDEND AND INTEREST PAYMENTS, AS OF 6/30/2016 Dividend or Payment Type Company Number of Missed Payments Observers Assigned to Board of Directors2 487 (CONTINUED) Value of Missed Payments3 Value of Unpaid Amounts3,4,5 $1,055,520 $1,055,520 RCB Financial Corporation***** Cumulative 9 Central Federal Corporation Cumulative 8 722,500 722,500 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 Coloeast Bankshares, Inc.***** Cumulative 8 1,090,000 1,090,000 Randolph Band & Trust Company***** Non-Cumulative 8 6,229,000 678,880 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 1,754,475 1,754,475 ***** * Severn Bancorp, Inc. Cumulative 6 ***** Coastal Banking Company, Inc. Cumulative 6 995,000 746,250 First Reliance Bancshares, Inc.***** Cumulative 6 1,254,720 1,254,720 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 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 Federal Bancshares of Arkansas, Inc.***** Cumulative 5 1,031,250 1,031,250 Flagstar Bancorp, Inc.***** Cumulative 5 16,666,063 *** 16,666,063 Continued on next page 488 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 CPP-RELATED MISSED DIVIDEND AND INTEREST PAYMENTS, AS OF 6/30/2016 Dividend or Payment Type Number of Missed Payments Non-Cumulative Northwest Commercial Bank CB Holding Corp.**** Observers Assigned to Board of Directors2 (CONTINUED) **** Value of Unpaid Amounts3,4,5 5 $494,063 $494,063 5 135,750 135,750 Cumulative GulfSouth Private Bank**** Value of Missed Payments3 Non-Cumulative Company 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. Cumulative 4 4,017,350 4,017,350 Pierce County Bancorp**** Cumulative 4 370,600 370,600 Cumulative 4 200,000 200,000 Sterling Financial Corporation (WA) Cumulative 4 18,937,500 18,937,500 TIB Financial Corp*****,7 Cumulative 4 1,850,000 1,850,000 Community Bank of the Bay 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 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.*****,7 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 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 ***** ***,9 Santa Lucia Bancorp ***** ***,9 6 **** **** **** ***** First Alliance Bancshares, Inc. ***** **** ***** Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 CPP-RELATED MISSED DIVIDEND AND INTEREST PAYMENTS, AS OF 6/30/2016 Dividend or Payment Type Company Number of Missed Payments Observers Assigned to Board of Directors2 489 (CONTINUED) Value of Missed Payments3 Value of Unpaid Amounts3,4,5 FBHC Holding Company*,***** Interest 2 $123,127 $123,127 CIT Group Inc. Cumulative 2 29,125,000 29,125,000 Ojai Community Bank***** Non-Cumulative 2 56,680 56,680 UCBH Holdings, Inc. Cumulative 1 3,734,213 3,734,213 Exchange Bank***** Non-Cumulative 1 585,875 585,875 Non-Cumulative 1 51,775 51,775 $543,373,004 $517,758,232 ****,8 **** Tifton Banking Company **** Total Notes: Numbers may not total due to rounding. Approximately $43.3 million of the $517.8 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 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. 7 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. 8 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. 9 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, 7/11/2016; Treasury, response to SIGTARP data call, 7/5/2016. 490 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 TABLE E.4 REALIZED LOSSES AND WRITE-OFFS IN CPP, AS OF 6/30/2016 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 23 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 CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 REALIZED LOSSES AND WRITE-OFFS IN CPP, AS OF 6/30/2016 Institution Marquette National Corporation Park Bancorporation, 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 Premier Financial Bancorp, Inc. 22 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 49 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 491 492 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 REALIZED LOSSES AND WRITE-OFFS IN CPP, AS OF 6/30/2016 ($ 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 181 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 CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 REALIZED LOSSES AND WRITE-OFFS IN CPP, AS OF 6/30/2016 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. 8 0.5 2/8/2013 Sale of preferred stock at a loss First Priority Financial Corp. 9 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 7 5 6/28/2013 Sale of preferred stock at a loss Metropolitan Bank Group, Inc. NC Bancorp, Inc. 72 48 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 493 494 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 REALIZED LOSSES AND WRITE-OFFS IN CPP, AS OF 6/30/2016 Institution Anchor Bancorp Wisconsin, Inc. TARP Investment Loss ($ MILLIONS) (CONTINUED) Date Description $110 $104 9/27/2013 Sale of common stock at a loss Centrue Financial Corporation 33 22 10/18/2013 Sale of preferred stock at a loss ColoEast Bankshares, Inc. 10 1 8 0.4 7/17/2013 Sale of preferred stock at a loss 11 0.2 7/22/2013 Sale of preferred stock at a loss Commonwealth Business Bank Crosstown Holding Company Desoto County Bank First Banks, Inc. First Intercontinental Bank 7/22/2013 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 3 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 CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 REALIZED LOSSES AND WRITE-OFFS IN CPP, AS OF 6/30/2016 Institution Bank of the Carolinas Corporation Regent Bancorp, Inc. Highlands Independent Bancshares, Inc. Lone Star Bank ($ 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 Porter Bancorp, Inc.(PBI) Louisville, KY 35 32 12/3/2014 Sale of preferred stock at a loss NCAL Bancorp 10 6 12/10/2014 Sale of preferred stock at a loss First Bancorp (PR) 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 13 13 4/11/2016 Sale of preferred stock at a loss 17 14 6/30/2016 Sale of common stock at a loss HCSB Financial Corporation Liberty Shares, Inc. Total CPP Realized Losses $1,709 Write-Offs CIT Group Inc. Pacific Coast National Bancorp South Financial Group, Inc.a $2,330 $2,330 4 4 347 217 TIB Financial Corpa 37 25 UCBH Holdings Inc. 299 299 85 85 Midwest Banc Holdings, Inc. 12/10/2009 Bankruptcy 2/11/2010 Bankruptcy 9/30/2010 Sale of preferred stock at a loss 9/30/2010 Sale of preferred stock at a loss 11/6/2009 Bankruptcy 5/14/2010 Bankruptcy Sonoma Valley Bancorp 9 9 8/20/2010 Bankruptcy Pierce County Bancorp 7 7 11/5/2010 Bankruptcy Tifton Banking Company 4 4 11/12/2010 Bankruptcy Legacy Bancorp, Inc. 5 5 3/11/2011 Bankruptcy Superior Bancorp Inc. 69 69 4/15/2011 Bankruptcy 6 6 7/15/2011 Bankruptcy FPB Bancorp, Inc. 6 6 7/15/2011 Bankruptcy Integra Bank Corporation One Georgia Bank 84 84 7/29/2011 Bankruptcy Citizens Bancorp 10 10 9/23/2011 Bankruptcy CB Holding Corp. Tennessee Commerce Bancorp, Inc. 4 4 30 30 10/14/2011 Bankruptcy 1/27/2012 Bankruptcy Blue River Bancshares, Inc. 5 5 2/10/2012 Bankruptcy Fort Lee Federal Savings Bank, FSB 1 1 4/20/2012 Bankruptcy Gregg Bancshares, Inc. 1 1 7/13/2012 Bankruptcy Continued on next page 495 496 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 REALIZED LOSSES AND WRITE-OFFS IN CPP, AS OF 6/30/2016 Institution Premier Bank Holding Company TARP Investment Loss ($ MILLIONS) (CONTINUED) Date Description $10 $10 8/14/2012 Bankruptcy GulfSouth Private Bank 8 8 10/19/2012 Bankruptcy Investors Financial Corporation of Pettis County, Inc. 4 4 10/19/2012 Bankruptcy First Place Financial Corp. 73 73 10/29/2012 Bankruptcy Princeton National Bancorp, Inc. 25 25 11/2/2012 Bankruptcy 2 2 Gold Canyon Bank Indiana Bank Corp. 4/5/2013 Bankruptcy 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 7 7 4/24/2014 Bankruptcy Rising SunBancorp 6 6 12/5/2014 Sale of common stock at a loss Western Community Bancshares, Inc. 7 7 Total CPP Write-Offs Total of CPP Realized Losses and Write-Offs 12/10/2014 Sale of preferred stock at a loss $3,386 $5,096 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, 7/5/2016; Treasury, response to SIGTARP data call, 7/8/2016. CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 TABLE E.5 TREASURY RESTRUCTURINGS, RECAPITALIZATIONS, EXCHANGES, & SALES, AS OF 6/30/2016 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 2/6/2009 52.0 Sold at loss in auction 3/13/2009 51.5 Sold at loss in auction 12/19/2008 50.0 Sold at loss in auction Community Bancshares of MS CommunityOne Bancorp/FNB United Corp. Seacoast Banking Corporation of Florida 7/24/2009 49.3 Sold at loss in auction Fidelity Southern Corporation Yadkin Valley Financial 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 Cascade Financial Corporation 11/21/2008 39.0 Sold at loss in auction Bridgeview Bancorp, Inc. Cadence Financial Corporation Exchange Bank Reliance Bancshares, 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 Continued on next page 497 498 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 TREASURY RESTRUCTURINGS, RECAPITALIZATIONS, EXCHANGES, & SALES, AS OF 6/30/2016 Investment Date Original Investments Spirit Bank Corp. Inc. 3/27/2009 $30.0 Sold at loss in auction First United Corporation 1/30/2009 30.0 Sold at loss in auction Farmers Capital Bank Corporation 1/9/2009 30.0 Sold at loss in auction Colony Bankcorp, Inc. 1/9/2009 28.0 Sold at loss in auction HMN Financial, Inc 12/23/2008 26.0 Sold at loss in auction Patriot Bancshares, Inc. 12/19/2008 26.0 Sold at loss in auction LNB Bancorp Inc. 12/12/2008 25.2 Sold at loss in auction Peoples Bancorp of North Carolina, Inc. 12/23/2008 25.1 Sold at loss in auction 5/29/2009 25.0 Sold at loss in auction 12/23/2008 25.0 Sold at loss in auction Company Citizens Bancshares Co. Intervest Bancshares Corporation Combined Investments ($ MILLIONS) (CONTINUED) Investment Status 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 2/6/2009 20.4 Sold at loss in auction First Western Financial, Inc. 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 First Western Financial, Inc. 2/6/2009 20.4 Sold at loss in auction 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 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 TREASURY RESTRUCTURINGS, RECAPITALIZATIONS, EXCHANGES, & SALES, AS OF 6/30/2016 Company Timberland Bancorp Inc. Parke Bancorp Inc. Pacific City Financial Corporation Carolina Bank Holdings, Inc. Combined Investments ($ MILLIONS) (CONTINUED) Investment Date Original Investments 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 1/9/2009 16.0 Sold at loss in auction Investment Status 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 First Reliance Bancshares, Inc. 3/6/2009 15.3 Sold at loss in auction Village Bank and Trust Financial Corp 5/1/2009 14.7 Sold at loss in auction 3/13/2009 13.9 Sold at loss in auction 4/3/2009 12.7 Sold at loss in auction 2/13/2009 12.5 Sold at loss in auction First National Corporation Community First Bancshares, Inc. Meridian Bank 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 1/30/2009 11.9 Sold at auction The Queensborough Company Plumas Bancorp First Community Corporation 11/21/2008 11.4 Sold at loss in auction Western Illinois Bancshares, Inc. 12/23/2008 11.4 Sold at loss in auction First Capital Bancorp, Inc. 4/3/2009 11.0 Sold at loss in auction 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 Presidio Bank Crosstown Holding Company 1/23/2009 10.7 Sold at loss in auction 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 12/18/2009 9.2 Sold at loss in auction 12/4/2009 9.0 Sold at loss in auction First Priority Financial Corp. Delmar Bancorp RCB Financial Corporation 6/19/2009 8.9 Sold at loss in auction United American Bank 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 First Freedom Bancshares, Inc. BancStar, Inc. Continued on next page 499 500 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 TREASURY RESTRUCTURINGS, RECAPITALIZATIONS, EXCHANGES, & SALES, AS OF 6/30/2016 Investment Date Original Investments Great River Holding Company 7/17/2009 $8.4 Sold at loss in auction F & M Bancshares, Inc. 11/6/2009 8.1 Sold at loss in auction Company Combined Investments ($ MILLIONS) (CONTINUED) Investment Status 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 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 1/30/2009 7.5 Sold at loss in auction The Little Bank, Incorporated Country Bank Shares, Inc. 12/23/2009 7.5 Sold at loss in auction FFW Corporation 12/19/2008 7.3 Sold at loss in auction TriSummit Bank Chicago Shore Corporation Fidelity Federal Bancorp Alarion Financial Services, Inc. 4/3/2009 7.0 Sold at loss in auction 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 Corp. 5/22/2009 6.3 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 First Southwest Bancorporation, Inc. 3/6/2009 5.5 Sold at loss in auction Valley Community Bank 1/9/2009 5.5 Sold at loss in auction Midtown Bank & Trust Company 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 Georgia Primary Bank 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 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 12/23/2008 4.0 Sold at loss in auction Pacific Commerce Bank Carolina Trust Bank Capital Pacific Bancorp 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 Bancshares of TN, Inc. 3/20/2009 3.9 Sold at loss in auction Pathway Bancorp 3/27/2009 3.7 Sold at auction Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 TREASURY RESTRUCTURINGS, RECAPITALIZATIONS, EXCHANGES, & SALES, AS OF 6/30/2016 Company Investment Date Original Investments AB&T Financial Corporation 1/23/2009 $3.5 Sold at loss in auction First Alliance Bancshares, Inc. 6/26/2009 3.4 Sold at loss in auction Madison Financial Corporation 3/13/2009 3.4 Sold at auction 1/9/2009 3.3 Sold at loss in auction Congaree Bancshares, Inc. Combined Investments ($ MILLIONS) (CONTINUED) Investment Status Mountain Valley Bancshares, Inc. 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 Freeport Bancshares, Inc. 2/6/2009 3.0 Sold at 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 6/12/2009 2.8 Sold at loss in auction Prairie Star Bancshares, Inc. Southfirst Bancshares Desoto County Bank 2/13/2009 2.7 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 Manhattan Bancshares, Inc. 6/19/2009 2.6 Sold at loss in auction 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 Atlantic Bancshares, Inc. 12/29/2009 2.0 Sold at auction 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 Hyperion Bank Regional Bankshares Inc. 2/13/2009 1.5 Sold at loss in auction First Advantage Bancshares, Inc. 5/22/2009 1.2 Sold at loss in auction Continued on next page 501 502 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 TREASURY RESTRUCTURINGS, RECAPITALIZATIONS, EXCHANGES, & SALES, AS OF 6/30/2016 Company Investment Date Original Investments Combined Investments ($ MILLIONS) (CONTINUED) Investment Status BankGreenville Financial Corp. 2/13/2009 $1.0 Sold at loss in auction 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 12/5/2008 $347.0 Sold Whitney Holding Corporation 12/19/2008 300.0 Sold Green Bankshares 12/23/2008 72.3 Sold Sold at Loss South Financial Group, Inc. U.S. Century PremierWest Bancorp Capital Bank Corporation TIB Financial Corp. First Security Group, Inc. 8/7/2009 50.2 Sold 2/13/2009 41.4 Sold 12/12/2008 41.3 Sold 12/5/2008 37.0 Sold 1/9/2009 33.0 Sold Florida Bank Group, Inc. 7/24/2009 20.5 Sold Liberty Shares, Inc. 2/20/2009 17.3 Sold 3/6/2009 16.5 Sold 11/14/2008 16.4 Sold 6/19/2009 15.0 Sold First Federal Bankshares of Arkansas, Inc. 1st Financial Services Corporation Suburban Illinois Bancorp, Inc. First Community Bancshares, Inc. 5/15/2009 14.8 Sold Bank of the Carolinas Corporation 4/17/2009 13.2 Sold HCSB Financial Corporation 3/6/2009 12.9 Sold SouthCrest Financial Group, Inc. 7/17/2009 12.9 Sold Central Virginia Bankshares 1/30/2009 11.4 Sold First Community Bank Corporation of America 12/23/2008 11.0 Sold NCAL Bancorp 12/19/2008 10.0 Sold 4/10/2009 9.4 Sold 12/23/2008 7.4 Sold 4/3/2009 7.3 Sold City National Bancshares Corporation First Sound Bank Millennium Bancorp, Inc. Central Federal Corporation 12/5/2008 7.2 Sold Community Financial Shares, Inc. 5/15/2009 7.0 Sold Monarch Community Bancorp, Inc. 2/6/2009 6.8 Sold Highlands Independent Bancshares, Inc. 3/6/2009 6.7 Sold Bank of Currituck 2/6/2009 4.0 Sold Santa Lucia Bancorp 12/19/2008 4.0 Sold Naples Bancorp, Inc. 3/27/2009 4.0 Sold Treaty Oak Bancorp, Inc. 1/16/2009 3.3 Sold Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 TREASURY RESTRUCTURINGS, RECAPITALIZATIONS, EXCHANGES, & SALES, AS OF 6/30/2016 ($ MILLIONS) (CONTINUED) Investment Date Original Investments 12/29/2009 $3.0 Sold 1/30/2009 2.6 Sold Citigroup Inc. 10/28/2008 $25,000.0 Exchanged for common stock/warrants and sold Provident Bankshares 11/14/2008 151.5 M&T Bank Corporation 12/23/2008 600.0 Wilmington Trust Corporation Company FBHC Holding Company Goldwater Bank, NA Combined Investments 503 Investment Status Exchanges $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 12/12/2008 330.0 Popular, Inc. 12/5/2008 935.0 Exchanged for trust preferred securities First BanCorp 1/6/2009 400.0 Exchanged for mandatorily convertible preferred stock Sterling Financial Corporation Pacific Capital Bancorp Central Pacific Financial Corp. 12/5/2008 303.0 Exchanged for common stock, Sold 11/21/2008 180.6 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 First Merchants 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 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 Crescent Financial Bancshares, Inc. 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, 7/5/2016. 504 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 TABLE E.6 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 6/30/2016 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 $3,450,000 $31,550,000 90% 13 $6,737,500 $38,287,500 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 10,345,500 27,654,500 73% 15 7,766,250 35,420,750 Spirit Bank Corp. Inc. 11/19/2013 30,000,000 8,910,000 21,090,000 70% 12 4,905,000 25,995,000 Community First Inc. 4/14/2014 17,806,000 5,297,196 12,508,804 70% 12 2,911,200 15,420,004 7/2/2014 1,700,000 502,000 1,198,000 70% 7 162,138 1,360,138 Centrue Financial Corporation 10/21/2013 32,668,000 10,631,697 22,036,303 67% 18 6,959,475 28,995,778 Georgia Primary Bank 2/10/2014 4,500,000 1,531,145 2,968,855 66% 18 1,113,163 4,082,018 Bank of George 10/21/2013 2,672,000 930,240 1,741,760 65% 10 364,150 2,105,910 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 295,400,000 104,684,930 190,715,070 65% 17 64,543,063 255,258,132 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 5,615,638 9,122,362 62% 11 2,026,475 11,148,837 Valley Community Bank 10/21/2013 5,500,000 2,271,800 3,228,200 59% 10 749,375 3,977,575 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 3,108,200 2,113,800 40% 15 1,067,213 3,181,013 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 Pacific Commerce Bank 2/10/2014 4,060,000 2,494,961 1,565,039 39% 13 695,771 2,260,810 Maryland Financial Bank Old Second Bancorp, Inc.a 0% Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 6/30/2016 Institution Auction Date Investment Net Proceeds 505 (CONTINUED) Number of Missed Dividends Missed Dividends Total Loss from Auction Sales and Missed Dividends 23 Percentage of Shares Discount Repurchased Auction Loss Percentage by Institution $1,059,242 $2,247,762 Lone Star Bank 12/4/2014 $3,072,000 $1,883,480 $1,188,520 39% Franklin Bancorp, Inc. 11/9/2012 5,097,000 3,198,853 1,898,148 37% 1,898,148 Hyperion Bank 12/20/2012 1,552,000 983,800 568,200 37% 568,200 Citizens Bank & Trust Company 6/29/2015 2,400,000 1,535,312 864,688 36% First Community Financial Partners, Inc.b 9/12/2012 22,000,000 14,211,450 7,788,550 35% 12/11/2012 20,749,000 13,399,227 7,349,773 35% 2 565,390 7,915,163 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 10,327,021 5,021,979 33% 6 1,254,720 6,276,699 Security Bancshares of Pulaski County, Inc. 12/11/2012 2,152,000 1,465,497 686,503 32% First Alliance Bancshares, Inc. 12/20/2012 3,422,000 2,370,742 1,051,258 31% Marquette National Corporation 7/27/2012 35,500,000 25,313,186 10,186,814 29% HMN Financial, Inc. 1/29/2013 26,000,000 18,571,410 7,428,590 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 Park Bancorporation, Inc. 7/27/2012 23,200,000 16,772,382 6,427,618 28% Diamond Bancorp, Inc. 7/27/2012 20,445,000 14,780,662 5,664,338 28% Community West Bancshares 12/11/2012 15,600,000 11,181,456 4,418,544 28% Farmers Capital Bank Corporation 6/13/2012 30,000,000 21,863,750 8,136,251 27% 8,136,251 Trinity Capital Corporation 7/27/2012 35,539,000 26,396,503 9,142,497 26% 9,142,497 National Bancshares, Inc. 2/7/2013 24,664,000 18,318,148 6,345,852 26% Commonwealth Bancshares, Inc. 7/27/2012 20,400,000 15,147,000 5,253,000 26% Alliance Financial Services, Inc. 1/29/2013 12,000,000 8,912,495 3,087,505 26% TriSummit Bank 11/30/2012 7,002,000 5,198,985 1,803,015 26% The Baraboo Bancorporation, Inc. 5 163,500 1,028,188 7,788,550 686,503 2 93,245 31% 1,144,503 10,186,814 8 2,600,000 30% 10,028,590 6,427,618 5,664,338 3 9 585,000 3,024,383 26% 5,003,544 9,370,235 5,253,000 12 3,020,400 6,107,905 1,803,015 Continued on next page 506 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 6/30/2016 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 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% 12 $4,522,611 8,879,053 Colony Bankcorp, Inc. 1/29/2013 28,000,000 21,680,089 6,319,911 23% 4 1,400,000 7,719,911 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% DeSoto County Bank 9/25/2013 2,681,000 2,163,563 517,437 19% Alpine Banks of Colorado 9/12/2012 70,000,000 56,430,297 13,569,703 19% 13,569,703 Seacoast Banking Corporation of Florida 3/28/2012 50,000,000 40,404,700 9,595,300 19% 9,595,300 Ridgestone Financial Services, Inc. 2/7/2013 10,900,000 8,876,677 2,023,323 19% First Trust Corporation CenterBank 8 79% 1,687,900 5,096,709 - 0 517,437 14 2,079,175 4,102,498 10/31/2012 2,250,000 1,831,250 418,750 19% 418,750 United Bancorp, Inc. 6/13/2012 20,600,000 16,750,221 3,849,780 19% 3,849,780 Meridian Bank 3/17/2014 12,535,000 10,224,871 2,310,129 18% KS Bancorp, Inc. 11/30/2012 4,000,000 3,283,000 717,000 18% 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 7/27/2012 20,440,000 17,022,298 3,417,702 17% 3,417,702 First Western Financial, Inc.c - 0 2,310,129 717,000 35% 599,021 Bank of Commerce 11/30/2012 3,000,000 2,477,000 523,000 17% Presidio Bank 12/11/2012 10,800,000 9,058,369 1,741,631 16% Carolina Trust Bank 11/30/2012 4,000,000 3,362,000 638,000 16% 3 150,000 788,000 3/1/2013 2,900,000 2,440,029 459,971 16% 12 474,150 934,121 11/9/2012 16,641,000 14,209,334 2,431,666 15% Santa Clara Valley Bank, N.A. Timberland Bancorp, Inc. 3 122,625 645,625 1,741,631 2,431,666 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 6/30/2016 Institution Auction Date Investment Net Proceeds 507 (CONTINUED) Number of Missed Dividends Missed Dividends Total Loss from Auction Sales and Missed Dividends 6 Percentage of Shares Discount Repurchased Auction Loss Percentage by Institution $222,360 $623,509 Worthington Financial Holdings, Inc. 6/24/2013 $2,720,000 $2,318,851 $401,149 15% LNB Bancorp Inc. 6/13/2012 25,223,000 21,594,229 3,628,771 14% 3,628,771 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 Exchange Bank 7/27/2012 43,000,000 37,259,393 5,740,608 13% Banner Corporation 3/28/2012 124,000,000 108,071,915 15,928,085 13% 15,928,085 Pulaski Financial Corp 6/27/2012 32,538,000 28,460,338 4,077,662 13% 4,077,662 First National Corporation 8/23/2012 13,900,000 12,082,749 1,817,251 13% 1,817,251 First Priority Financial Corp. 1/29/2013 9,175,000 8,012,094 1,162,906 13% 1,162,906 BankGreenville Financial Corporation 11/9/2012 1,000,000 875,000 125,000 13% 125,000 12/11/2012 1,177,000 1,032,193 144,807 12% 144,807 Taylor Capital Group 6/13/2012 104,823,000 92,254,460 12,568,540 12% 12,568,540 Yadkin Valley Financial Corporationd 9/12/2012 49,312,000 43,486,820 5,825,180 12% 5,825,180 Fidelity Financial Corporation 7/27/2012 36,282,000 32,013,328 4,268,672 12% 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 Premier Financial Bancorp, Inc. 7/27/2012 22,252,000 19,849,222 2,402,778 11% FC Holdings, Inc. 2/7/2013 21,042,000 18,685,927 2,356,073 11% Market Street Bancshares, Inc. 7/27/2012 20,300,000 18,069,213 2,230,787 11% 89% 2,230,787 Southern First Bancshares, Inc. 6/27/2012 17,299,000 15,403,722 1,895,278 11% 6% 1,895,278 Clover Community Bankshares, Inc. First Advantage Bancshares, Inc. 47% 1 585,875 58% 6,326,483 4,268,672 46% 2,402,778 14 4,013,730 6,369,803 Continued on next page 508 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 6/30/2016 Institution Auction Date Investment Net Proceeds (CONTINUED) Number of Missed Dividends Missed Dividends Total Loss from Auction Sales and Missed Dividends 8 Percentage of Shares Discount Repurchased Auction Loss Percentage by Institution $1,090,000 $2,142,875 ColoEast Bankshares, Inc. 7/22/2013 $10,000,000 $8,947,125 $1,052,875 11% Metro City Bank 10/31/2012 7,700,000 6,861,462 838,538 11% FFW Corporation 11/30/2012 7,289,000 6,515,426 773,574 11% First Southwest Bancorporation, Inc. 3/15/2013 5,500,000 4,900,609 599,391 11% 13 974,188 1,573,579 RCB Financial Corporation 9/25/2013 8,900,000 7,992,546 907,454 10% 9 1,055,520 1,962,974 Flagstar Bancorp, Inc. 3/15/2013 266,657,000 240,627,277 26,029,723 10% 5 16,666,063 42,695,786 WSFS Financial Corporation 3/28/2012 52,625,000 47,435,299 5,189,701 10% CBS Banc-Corp. 7/27/2012 24,300,000 21,776,396 2,523,604 10% SouthCrest Financial Group, Inc. 3/1/2013 12,900,000 11,587,256 1,312,744 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 Bank of Southern California, N.A. 12/20/2012 4,243,000 3,850,151 392,849 9% 30% 392,849 Regional Bankshares, Inc. 11/9/2012 1,500,000 1,362,500 137,500 9% 47% 137,500 BNC Bancorp 8/23/2012 31,260,000 28,365,685 2,894,315 9% First Capital Bancorp, Inc. 6/13/2012 10,958,000 9,931,327 1,026,673 9% HomeTown Bankshares Corporation 10/31/2012 10,000,000 9,093,150 906,850 9% 906,850 Country Bank Shares, Inc. 11/30/2012 7,525,000 6,838,126 686,874 9% 686,874 Germantown Capital Corporation, Inc. 10/31/2012 4,967,000 4,495,616 471,384 9% 6/24/2013 442,000 400,425 41,575 9% 41,575 10/31/2012 7,700,000 7,024,595 675,406 9% 675,406 11/9/2012 8,700,000 7,945,493 754,508 9% Farmers & Merchants Financial Corporation Oak Ridge Financial Services, Inc. First Freedom Bancshares, Inc. 15% 838,538 773,574 5,189,701 95% 2,523,604 9 1,581,863 2,894,607 2,894,315 50% 25% 69% 1,026,673 471,384 754,508 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 6/30/2016 Institution Auction Date Investment Net Proceeds 509 (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 Sound Banking Company 11/9/2012 $3,070,000 $2,807,413 $262,587 9% MainSource Financial Group, Inc. 3/28/2012 57,000,000 52,277,171 4,722,829 8% Ameris Bancorp 6/13/2012 52,000,000 47,665,332 4,334,668 8% Peoples Bancorp of North Carolina, Inc. 6/27/2012 25,054,000 23,033,635 2,020,365 8% Central Community Corporation 12/11/2012 22,000,000 20,172,636 1,827,364 8% 1,827,364 1/29/2013 5,625,000 5,161,674 463,326 8% 463,326 11/30/2012 4,397,000 4,066,752 330,248 8% 35% 330,248 Wilshire Bancorp, Inc. 3/28/2012 62,158,000 57,766,994 4,391,006 7% 97% 4,391,006 Firstbank Corporation 6/27/2012 33,000,000 30,587,530 2,412,470 7% 48% 2,412,470 2/7/2013 16,000,000 14,811,984 1,188,016 7% Western Illinois Bancshares, Inc. 11/9/2012 11,422,000 10,616,305 805,695 7% F & M Bancshares, Inc. 1/29/2013 8,144,000 7,598,963 545,037 7% 545,037 Community Business Bank 11/30/2012 3,976,000 3,692,560 283,440 7% 283,440 Hometown Bancshares, Inc. 11/30/2012 1,900,000 1,766,510 133,490 7% 39% 133,490 Community Bancshares of Mississippi, Inc. 11/30/2012 1,050,000 977,750 72,250 7% 52% 72,250 Capital Pacific Bancorp 11/9/2012 4,000,000 3,728,440 271,560 7% 271,560 Metropolitan Capital Bancorp, Inc. 6/29/2015 4,388,000 4,102,322 285,678 7% 285,678 F & M Financial Corporation (NC) 9/12/2012 17,000,000 15,988,500 1,011,500 6% Mackinac Financial Corporation 8/23/2012 11,000,000 10,380,905 619,095 6% 619,095 Universal Bancorp 8/12/2013 9,900,000 9,312,028 587,972 6% 587,972 Commonwealth Business Bank 7/22/2013 7,701,000 7,250,414 450,586 6% 100% 12/20/2012 2,600,000 2,445,000 155,000 6% 54% Waukesha Bankshares, Inc. CBB Bancorp Carolina Bank Holdings, Inc. Community Investors Bancorp, Inc. $262,587 37% 4,722,829 4,334,668 50% 2,020,365 1,188,016 89% 805,695 84% 1,011,500 10 $1,049,250 1,499,836 155,000 Continued on next page 510 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 6/30/2016 Institution Auction Date Investment Net Proceeds United Community Banks, Inc. 3/15/2013 $180,000,000 $171,517,500 First Defiance Financial Corp. 6/13/2012 37,000,000 Farmers Enterprises, Inc. 11/9/2012 Coastal Banking Company, Inc. (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 $8,482,500 5% 35,084,144 1,915,856 5% 45% 1,915,856 12,000,000 11,439,252 560,748 5% 99% 560,748 3/1/2013 9,950,000 9,408,213 541,787 5% AmFirst Financial Services, Inc. 3/15/2013 5,000,000 4,752,000 248,000 5% 248,000 Alliance Bancshares, Inc. 3/15/2013 2,986,000 2,831,437 154,563 5% 154,563 F&C Bancorp, Inc. 11/9/2012 2,993,000 2,844,599 148,401 5% 148,401 Intervest Bancshares Corporation 6/24/2013 25,000,000 24,007,500 992,500 4% 25% 992,500 Biscayne Bancshares, Inc. 1/29/2013 6,400,000 6,170,630 229,370 4% 53% 229,370 10/21/2013 21,750,000 21,050,387 699,613 3% NewBridge Bancorp 4/29/2013 52,372,000 50,837,239 1,534,761 3% MetroCorp Bancshares, Inc. 6/27/2012 45,000,000 43,490,360 1,509,640 3% The Queensborough Company 3/1/2013 12,000,000 11,605,572 394,428 3% First Community Corporation 8/23/2012 11,350,000 10,987,794 362,206 3% Crosstown Holding Company 7/22/2013 10,650,000 10,356,564 293,436 3% BancStar, Inc. Blue Valley Ban Corp $8,482,500 6 18 $746,250 4,893,750 1,288,037 5,593,363 1,534,761 97% 1,509,640 11 1,798,500 33% 2,192,928 362,206 293,436 4/29/2013 8,600,000 8,366,452 233,548 3% 12% 233,548 The Little Bank, Incorporated 10/31/2012 7,500,000 7,285,410 214,590 3% 63% 214,590 Alarion Financial Services, Inc. 7/22/2013 6,514,000 6,338,584 175,416 3% Guaranty Federal Bancshares, Inc.e 4/29/2013 17,000,000 16,493,900 506,100 3% Manhattan Bancshares, Inc. 12/11/2012 2,639,000 2,561,405 77,595 3% IA Bancorp, Inc. 3/17/2014 5,976,000 5,804,482 171,518 3% 6 472,365 643,883 SouthFirst Bancshares, Inc. 6/29/2015 2,760,000 2,697,050 62,950 2% 14 609,270 672,220 Community First Bancshares, Inc. 2/10/2014 12,725,000 12,446,703 278,297 2% 6 532,560 707,976 506,100 96% 77,595 278,297 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 6/30/2016 Institution Auction Date Investment Net Proceeds 511 (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 Century Financial Services Corporation 12/20/2012 $10,000,000 $9,751,500 $248,500 2% Mountain Valley Bancshares, Inc. 7/22/2013 3,300,000 3,242,000 58,000 2% Chicago Shore Corporation 3/17/2014 7,000,000 6,867,630 132,370 2% Severn Bancorp, Inc. 9/25/2013 23,393,000 23,133,595 259,405 1% 6 $1,754,475 2,013,880 Plato Holdings Inc. 4/29/2013 2,500,000 2,478,750 21,250 1% 4 207,266 228,516 BNCCORP, Inc. 3/17/2014 20,093,000 19,913,553 179,447 1% 0 179,447 First United Corporation 12/4/2014 30,000,000 29,759,697 240,303 1% 0 240,303 Oregon Bancorp, Inc. 10/21/2013 3,216,000 3,191,000 25,000 1% Reliance Bancshares, Inc. 9/25/2013 40,000,000 39,794,040 205,960 1% Freeport Bancshares, Inc. 4/14/2014 3,000,000 2,994,530 5,470 0% Tennessee Valley Financial Holdings, Inc 4/29/2013 3,000,000 3,041,330 (41,330) (1%) 13 531,375 490,045 Madison Financial Corporation 11/19/2013 3,370,000 3,421,196 (51,196) (2%) 15 688,913 637,717 Northwest Bancorporation, Inc. 3/1/2013 10,500,000 10,728,783 (228,783) (2%) 12 1,716,750 1,487,967 Brogan Bankshares, Inc. 4/29/2013 2,400,000 2,495,024 (95,024) (4%) 7 352,380 257,356 Fidelity Federal Bancorp 7/22/2013 6,657,000 6,978,606 (321,606) (5%) 14 1,229,924 908,318 7/2/2014 16,800,000 17,683,309 (883,309) (5%) 14 3,204,600 2,321,291 Plumas Bancorp 4/29/2013 11,949,000 12,907,297 (958,297) (8%) 12 1,792,350 834,053 Eastern Virginia Bankshares, Inc. 10/21/2013 24,000,000 26,233,654 (2,233,654) (9%) 11 3,300,000 1,066,346 Community Pride Bank Corporation 8/12/2013 4,400,000 4,836,075 (436,075) (10%) 9 803,286 367,211 3/1/2013 5,586,000 6,116,943 (530,943) (10%) 11 1,288,716 757,773 Patriot Bancshares, Inc. 4/14/2014 26,038,000 29,438,815 (3,400,815) (13%) 13 4,612,010 1,211,195 Omega Capital Corp. 7/22/2013 2,816,000 3,193,406 (377,406) (13%) 15 575,588 198,181 White River Bancshares Company Boscobel Bancorp, Inc. $248,500 91% 58,000 132,370 78% 25,000 11 5,995,000 78% 58% 6,200,960 5,470 Continued on next page 512 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 INVESTMENTS IN CPP BANKS SOLD AT A LOSS AT AUCTION, AS OF 6/30/2016 Auction Date Institution 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 Atlantic Bancshares, Inc. 2/10/2014 $2,000,000 $2,275,000 ($275,000) (14%) 11 $299,255 $24,255 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 Prairie Star Bancshares, Inc. 6/29/2015 2,800,000 3,300,308 (500,308) (18%) 21 913,150 412,842 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 19,488,896 (3,288,896) (20%) 18 3,973,050 684,154 CSRA Bank Corp. 6/29/2015 2,400,000 2,888,000 (488,000) (20%) 19 717,300 229,300 Premier Financial Corp. 7/22/2013 6,349,000 7,777,816 (1,428,816) (23%) 12 1,597,857 169,041 Pacific City Financial Corporation Total Auction Losses Total Missed Dividends 38% 53% 60% $809,738,281 $258,620,369 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 $12 million investment remaining. Sources: Treasury, Transactions Report, 7/5/2016; SNL Financial LLC data. CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 TABLE E.7 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 6/30/2016 Repurchase Date Number of Warrants Repurchased Institution Amount of Repurchase ($ Thousands) 4/15/2009 Centra Financial Holdings, Inc. 750 $750,000.0 4/22/2009 First ULB Corp. 245 245,000.0 5/8/2009 Old National Bancorp 813,008 1,200,000.0 5/20/2009 Iberiabank Corporation 138,490 1,200,000.0 5/27/2009 First Manitowoc Bancorp, Inc. 600 600,000.0 5/27/2009 FirstMerit Corporation 952,260 5,025,000.0 5/27/2009 Independent Bank Corp. 481,664 2,200,000.0 1,620,545 2,100,000.0 173,069 900,000.0 5/27/2009 Sun Bancorp, Inc. 6/17/2009 Alliance Financial Corporation 6/24/2009 Berkshire Hills Bancorp, Inc. 226,330 1,040,000.0 6/24/2009 First Niagara Financial Group 953,096 2,700,000.0 6/24/2009 SCBT Financial Corporation 303,083 1,400,000.0 6/24/2009 Somerset Hills Bancorp 163,065 275,000.0 6/30/2009 HF Financial Corp. 302,419 650,000.0 7/8/2009 State Street Corporation 7/15/2009 U.S. Bancorp g 2,788,104 60,000,000.0 32,679,102 139,000,000.0 7/22/2009 BB&T Corp. 13,902,573 67,010,401.9 7/22/2009 Goldman Sachs Group, Inc. 12,205,045 1,100,000,000.0 7/29/2009 American Express Company 24,264,129 340,000,000.0 8/5/2009 Bank of New York Mellon 14,516,129 136,000,000.0 8/12/2009 Morgan Stanley 65,245,759 950,000,000.0 8/26/2009 Northern Trust Corporation 3,824,624 87,000,000.0 9/2/2009 Old Line Bancshares, Inc. 141,892 225,000.0 9/30/2009 Bancorp Rhode Island, Inc. 192,967 1,400,000.0 10/14/2009 Manhattan Bancorp 29,480 63,363.9 10/28/2009 Centerstate Banks of Florida Inc. 125,413 212,000.0 10/28/2009 CVB Financial Corp. 834,761 1,307,000.0 11/10/2009 Midwest Regional Bancorp, Inc./The Bank of Otterville 11/18/2009 1st United Bancorp, Inc. 35 35,000.0 500 500,000.0 11/24/2009 Bank of The Ozarks, Inc. 379,811 2,650,000.0 12/16/2009 LSB Corporation 209,497 560,000.0 12/16/2009 Wainwright Bank & Trust Company 390,071 568,700.0 12/23/2009 Midland States Bancorp, Inc. 12/23/2009 Union First Market Bankshares Corporation 509 509,000.0 211,318 450,000.0 12/23/2009 Wesbanco, Inc. 439,282 950,000.0 12/30/2009 Flushing Financial Corporation 375,806 900,000.0 1,647,931 10,000,000.0 190,427 430,797.0 12/30/2009 Trustmark Corporation 2/3/2010 OceanFirst Financial Corp. 2/10/2010 Monarch Financial Holdings, Inc. 3/31/2010 Umpqua Holdings Corp. 132,353 260,000.0 1,110,898 4,500,000.0 Continued on next page 513 514 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 6/30/2016 (CONTINUED) Number of Warrants Repurchased Amount of Repurchase ($ Thousands) 1,128,668 $18,500,000.0 199,203 1,488,046.4 Repurchase Date Institution 4/7/2010 City National Corporation 4/7/2010 First Litchfield Financial Corporation 4/14/2010 The First State Bank of Mobeetie 37 37,000.0 4/21/2010 Hilltop Community Bancorp, Inc. 200 200,000.0 5/19/2010 Texas National Bancorporation Inc. 199 199,000.0 6/16/2010 First Southern Bancorp, Inc. 545 545,000.0 6/16/2010 FPB Financial Corp. 162 162,000.0 6/16/2010 SVB Financial Group 7/7/2010 Discover Financial Services 354,058 7/14/2010 Green City Bancshares, Inc. 7/28/2010 Bar Harbor Bankshares 6,820,000.0 20,500,413 172,000,000.0 33 33,000.0 52,455 250,000.0 9/1/2010 Citizens & Northern Corporation 194,794 400,000.0 9/1/2010 Columbia Banking System, Inc. 398,023 3,301,647.0 9/8/2010 Fulton Financial Corporation 5,509,756 10,800,000.0 9/8/2010 The Bancorp, Inc. 980,203 4,753,984.6 9/17/2010 First Eagle Bancshares, Inc.a,b 375,000 375,000.0 9/24/2010 First Choice Bank 110 110,000.0 9/29/2010 BancPlus Corporationb 2,400 2,400,000.0 9/29/2010 Community Bancshares of Mississippi, Inc./Community Bank of Mississippib 2,600 2,600,000.0 9/29/2010 First Vernon Bancshares, Inc.b 245 245,000.0 9/29/2010 Lafayette Bancorp, Inc.b 100 100,000.0 9/29/2010 PSB Financial Corporation 464 464,000.0 9/29/2010 Security Capital Corporationb 522 522,000.0 9/29/2010 State Capital Corp. 750 750,000.0 9/30/2010 South Financial Group, Inc./ Carolina First Bank 10,106,796 400,000.0 9/30/2010 TIB Financial Corp 1,106,389 40,000.0 150,000 150,000.0 292 292,000.0 268,621 319,659.0 165 165,000.0 85,000 85,000.0 21 21,000.0 100,000 100,000.0 b b f 10/6/2010 Frontier Bancshares, Inc 11/24/2010 Leader Bancorp, Inc. 12/1/2010 Central Jersey Bancorp 12/8/2010 California Oaks State Bank 12/15/2010 Signature Bancshares, Inc. 12/29/2010 Haviland Bancshares, Inc. 12/29/2010 Nationwide Bankshares, Inc. 12/29/2010 Surrey Bancorp 100 100,000.0 12/30/2010 Capital Bancorp, Inc. 235 235,000.0 a a 1/5/2011 First PacTrust Bancorp, Inc. 1/19/2011 Huntington Bancshares 1/19/2011 Susquehanna Bancshares, Inc. 1/26/2011 American Premier Bancorp 1/26/2011 East West Bancorp, Inc. 280,795 1,003,227.0 23,562,994 49,100,000.0 3,028,264 5,269,179.4 90 90,000.0 1,517,555 14,500,000.0 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 6/30/2016 (CONTINUED) Number of Warrants Repurchased Repurchase Date Institution 2/16/2011 Georgia Commerce Bancshares, Inc. Amount of Repurchase ($ Thousands) 435 $435,000.0 2/23/2011 Sandy Spring Bancorp, Inc. 651,547 4,450,000.0 3/2/2011 Washington Banking Company 246,082 1,625,000.0 3/9/2011 1st Source Corporation 837,947 3,750,000.0 3/9/2011 First Horizon National Corporation 14,842,321 79,700,000.0 3/16/2011 Fifth Third Bancorp 43,617,747 280,025,936.0 3/16/2011 Stockmens Financial Corporation 778 778,000.0 4/13/2011 Hamilton State Bancshares, Inc. 35 350,000.0 4/13/2011 National Penn Bancshares, Inc. 735,294 1,000,000.0 4/20/2011 Bridge Capital Holdings 396,412 1,395,000.0 35,244,361 70,000,000.0 378,175 2,079,962.5 4/20/2011 Keycorp 5/11/2011 Financial Institutions, Inc. 5/18/2011 Sterling Bancorp 6/3/2011 Whitney Holding Corporation 6/29/2011 516,817 State Bankshares, Inc. 945,775.0 2,631,579 6,900,000.0 250 2,500,000.0 13,815,789 3,250,000.0 290 290,000.0 7/5/2011 Marshall & Ilsley Corporation 7/6/2011 Central Bancshares, Inc. 7/6/2011 Community Trust Financial Corporation 1,200 1,200,000.0 7/14/2011 BancIndependent, Incorporated 1,055 1,055,000.0 7/14/2011 BOH Holdings, Inc. 500 500,000.0 7/14/2011 Cache Valley Banking Company 238 238,000.0 7/14/2011 Centric Financial Corporation 182 182,000.0 7/14/2011 Security Business Bancorp 290 290,000.0 7/14/2011 York Traditions Bank 244 244,000.0 7/20/2011 Morrill Bancshares, Inc. 650 650,000.0 7/21/2011 Adbanc, Inc. 636 636,000.0 7/21/2011 Catskill Hudson Bancorp, Inc. 263 263,000.0 7/21/2011 Farmers State Bankshares, Inc. 4 40,000.0 7/21/2011 Financial Security Corporation 250 250,000.0 7/21/2011 First Bank of Charleston, Inc. 167 167,000.0 7/21/2011 Liberty Bancshares, Inc. (AR) 2,875 2,875,000.0 7/21/2011 Medallion Bankc 645 645,000.0 7/21/2011 Redwood Capital Bancorp 190 190,000.0 7/21/2011 Regent Capital Corporation, Inc./Regent Bank 133 133,000.0 7/27/2011 Home Bancshares, Inc. 158,472 1,300,000.0 198,675 1,000,000.0 4 40,000.0 d 7/27/2011 MidWestOne Financial Group, Inc. 7/28/2011 Banner County Ban Corporation 7/28/2011 Birmingham Bloomfield Bancshares, Inc. 82 82,000.0 7/28/2011 Centrix Bank & Trust 375 375,000.0 7/28/2011 Citizens Community Bank 150 150,000.0 7/28/2011 Pacific Coast Bankers' Bancshares 580 580,000.0 Continued on next page 515 516 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 6/30/2016 (CONTINUED) Number of Warrants Repurchased Amount of Repurchase ($ Thousands) Peoples Bancorp (WA) 900 $900,000.0 8/3/2011 TCNB Financial Corp 100 100,000.0 8/4/2011 BNC Financial Group, Inc. 240 240,000.0 8/4/2011 First NBC Bank Holding Company 892 892,000.0 8/4/2011 Mercantile Capital Corporation 175 175,000.0 8/4/2011 Washingtonfirst Bankshares, Inc. 332 332,000.0 8/11/2011 Equity Bancshares, Inc. 438 438,000.0 8/11/2011 Heritage Bankshares, Inc. 303 303,000.0 8/11/2011 Monument Bank 237 237,000.0 8/11/2011 Puget Sound Bank 225 225,000.0 8/11/2011 SBT Bancorp, Inc. 200 200,000.0 8/11/2011 UBT Bancshares, Inc.e 45 450,000.0 138,037 450,000.0 410 410,000.0 1,000 1,000,000.0 Repurchase Date Institution 8/3/2011 8/17/2011 Heritage Financial Corporation 8/18/2011 Bancorp Financial, Inc. 8/18/2011 Community First Bancshares, Inc. (TN) 8/18/2011 Gulfstream Bancshares, Inc. 375 375,000.0 8/18/2011 Katahdin Bankshares Corp. 522 522,000.0 8/18/2011 Liberty Bancshares, Inc. (Mo) 1,095 1,095,000.0 8/18/2011 Magna Bank 690 690,000.0 8/18/2011 Mcleod Bancshares, Inc. 30 300,000.0 8/18/2011 Redwood Financial, Inc. 150 150,000.0 8/18/2011 The Landrum Company 8/24/2011 First California Financial Group, Inc. 8/25/2011 Enterprise Financial Services Group, Inc. 8/25/2011 PFSB Bancorporation, Inc./Pigeon Falls State Bank 8/25/2011 Southern Illinois Bancorp, Inc. 8/25/2011 The ANB Corporation 8/25/2011 Veritex Holdings, Inc. (Fidelity Resources Company) 8/31/2011 SV Financial, Inc. 8/31/2011 West Bancorporation, Inc. 9/1/2011 1st Enterprise Bank 9/1/2011 Bern Bancshares, Inc. 9/1/2011 Financial Services of Winger, Inc. 9/1/2011 9/1/2011 9/1/2011 Seacoast Commerce Bank 9/1/2011 Steele Street Bank Corporation 9/1/2011 The Private Bank of California 9/1/2011 Two Rivers Financial Group, Inc. 9/7/2011 Merchants & Planters Bancshares, Inc. 9/8/2011 BankFirst Capital Corporation e 750 750,000.0 599,042 599,042.0 200 200,000.0 71 71,000.0 250 250,000.0 1,000 1,000,000.0 150 150,000.0 200 200,000.0 474,100 700,000.0 220 220,000.0 5 50,000.0 112,000 112,000.0 Nicolet Bankshares, Inc. 748 748,000.0 Penn Liberty Financial Corp. 498 498,000.0 90 90,000.0 331,000 331,000.0 273 273,000.0 60 600,000.0 94 94,000.0 775 775,000.0 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 6/30/2016 (CONTINUED) Number of Warrants Repurchased Amount of Repurchase ($ Thousands) Cardinal Bancorp II, Inc. 313,000 $313,000.0 Repurchase Date Institution 9/8/2011 9/8/2011 Deerfield Financial Corporation 132,000 132,000.0 9/8/2011 First Bankers Trustshares, Inc. 500 500,000.0 9/8/2011 Grand Capital Corporation 200 200,000.0 9/8/2011 GrandSouth Bancorporation 450 450,000.0 9/8/2011 Merchants and Manufacturers Bank Corporation 176 176,000.0 9/8/2011 Southern Heritage Bancshares, Inc. 243 243,000.0 9/8/2011 TCB Corporation/County Bank 292,000 292,000.0 9/14/2011 Summit State Bank 239,212 315,000.0 9/15/2011 AmeriBank Holding Company, Inc./American Bank of Oklahoma 125 125,000.0 9/15/2011 Avenue Financial Holdings 370 370,000.0 9/15/2011 Brotherhood Bancshares, Inc. 550 550,000.0 9/15/2011 California Bank of Commerce 200 200,000.0 9/15/2011 First Menasha Bancshares, Inc. 240 240,000.0 9/15/2011 First Resource Bank 130 130,000.0 9/15/2011 First Texas BHC, Inc. 677 677,000.0 9/15/2011 FNB Bancorp 600 600,000.0 9/15/2011 Fortune Financial Corporation 155 155,000.0 9/15/2011 Guaranty Bancorp, Inc. 346 346,000.0 9/15/2011 Moneytree Corporation 476 476,000.0 9/15/2011 Northway Financial, Inc. 500 500,000.0 9/15/2011 Providence Bank 175 175,000.0 9/15/2011 Security California Bancorp 341 341,000.0 9/15/2011 Sword Financial Corporation 682,000 682,000.0 9/15/2011 United Financial Banking Companies, Inc. 9/15/2011 W.T.B. Financial Corporation 283 283,000.0 5,500 5,500,000.0 9/21/2011 DNB Financial Corporation 186,311 458,000.0 9/21/2011 Great Southern Bancorp 909,091 6,436,364.0 9/22/2011 AMB Financial Corporation 184 184,000.0 9/22/2011 Columbine Capital Corp. 113 113,000.0 9/22/2011 FCB Bancorp, Inc. 465 465,000.0 9/22/2011 First Colebrook Bancorp, Inc. 225 225,000.0 9/22/2011 First Financial Bancshares, Inc. 113,000 113,000.0 9/22/2011 First Guaranty Bancshares, Inc. 103 1,030,000.0 9/22/2011 Florida Business Bancgroup, Inc. 475 475,000.0 9/22/2011 Highlands Bancorp, Inc. 155 155,000.0 9/22/2011 Howard Bancorp, Inc. 299 299,000.0 9/22/2011 Illinois State Bancorp, Inc. 406 406,000.0 9/22/2011 Security State Bancshares, Inc. 625 625,000.0 9/22/2011 Sovereign Bancshares, Inc. 911 911,000.0 9/22/2011 State Bank of Bartley, The 51,000 51,000.0 Continued on next page 517 518 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 6/30/2016 (CONTINUED) Number of Warrants Repurchased Amount of Repurchase ($ Thousands) 61 $61,000.0 Triad Bancorp, Inc. 185 185,000.0 Tri-County Financial Corporation 777 777,000.0 9/22/2011 Union Bank & Trust Company 160 160,000.0 9/22/2011 Valley Financial Group, Ltd. 65 65,000.0 9/27/2011 D.L. Evans Bancorp 995 995,000.0 9/27/2011 Plains Capital Corporation 4,382 4,382,000.0 9/28/2011 Central Valley Community Bancorp 79,067 185,016.8 Repurchase Date Institution 9/22/2011 The Victory Bancorp, Inc. 9/22/2011 9/22/2011 9/28/2011 Codorus Valley Bancorp, Inc. 263,859 526,604.0 9/28/2011 Heartland Financial USA, Inc. 609,687 1,800,000.0 9/28/2011 MutualFirst Financial, Inc. 625,135 900,194.0 9/28/2011 Oak Valley Bancorp 350,346 560,000.0 10/5/2011 OSB Financial Services, Inc.a 305,000 305,000.0 10/19/2011 Central Bancorp, Inc. (MA) 234,742 2,525,000.0 10/19/2011 Community Bank Shares of Indiana, Inc. 386,270 1,100,869.5 10/19/2011 MS Financial, Inc. 386 386,000.0 10/19/2011 Pascack Bancorp, Inc. 188 188,000.0 405,405 125,000.0 29 29,000.0 10/26/2011 Bank of Commerce Holdings 10/26/2011 Colonial American Bank 10/26/2011 Community Partners Bancorp 311,972 460,000.0 10/26/2011 Stewardship Financial Corporation 133,475 107,398.0 11/2/2011 American State Bancshares, Inc. 11/2/2011 Ameriserv Financial, Inc. 11/2/2011 Butler Point, Inc. 11/2/2011 Salisbury Bancorp, Inc. 11/9/2011 Citizens South Banking Corporation 300 300,000.0 1,312,500 825,000.0 30 30,000.0 57,671 205,000.0 450,314 225,157.0 11/16/2011 First Northern Community Bancorp 352,977 375,000.0 11/16/2011 QCR Holdings, Inc. 521,888 1,100,000.0 11/16/2011 Shore Bancshares, Inc. 172,970 25,000.0 12/7/2011 Center Bancorp, Inc. 86,705 245,000.0 12/7/2011 Emclaire Financial Corp. 12/21/2011 First Midwest Bancorp, Inc. 12/28/2011 Berkshire Bancorp, Inc./Customers Bancorp, Inc. 1/11/2012 North Central Bancshares, Inc. 1/18/2012 Stearns Financial Services, Inc.a 1/26/2012 Regents Bancshares, Inc. 2/1/2012 Pathfinder Bancorp, Inc. 2/15/2012 First Express of Nebraska, Inc. 2/15/2012 New Hampshire Thrift Bancshares, Inc. 50,111 51,113.0 1,305,230 900,000.0 145 145,000.0 99,157 600,000.0 1,245,000 1,245,000.0 381 381,000.0 154,354 537,633.0 250 250,000.0 184,275 737,100.0 2/15/2012 Peoples Bancorp (OH) 313,505 1,200,724.2 2/29/2012 Lakeland Bancorp, Inc. 997,050 2,800,000.0 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 6/30/2016 (CONTINUED) Number of Warrants Repurchased Amount of Repurchase ($ Thousands) Mainline Bancorp, Inc.f 225 $225,000.0 3/21/2012 Valley Commerce Bancorp 385 385,000.0 3/28/2012 Northern State Bank/First Commerce Bank 67 67,000.0 150,296 110,000.0 106 106,000.0 300 300,000.0 175,742 792,783.0 633 633,000.0 Repurchase Date Institution 3/9/2012 4/4/2012 Peapack-Gladstone Financial Corporation 4/4/2012 Titonka Bancshares, Inc. 4/13/2012 Gateway Bancshares, Inc. 4/19/2012 The Connecticut Bank And Trust Company 4/24/2012 Peoples Bancorporation, Inc. f 5/2/2012 MB Financial Inc. 506,024 1,518,072.0 5/2/2012 Park National Corporation 227,376 2,842,400.0 5/2/2012 Regions Financial Corporation 48,253,677 45,000,000.0 5/30/2012 Seacoast Banking Corporation of Florida 589,623 55,000.0 6/20/2012 Wilshire Bancorp, Inc. 949,460 760,000.0 6/27/2012 Beach Business Bank 300 300,000.0 7/3/2012 Mercantile Bank Corporation 616,438 7,465,100.0 7/3/2012 United Bank Corporation 720,000 720,000.0 7/17/2012 Heartland Bancshares, Inc. 248 248,000.0 7/18/2012 Community Bancshares of Kansas, Inc. 7/18/2012 Farmers Capital Bank Corporation a 25 25,000.0 223,992 75,000.0 7/18/2012 Firstbank Corporation 578,947 1,946,670.0 7/18/2012 LNB Bancorp, Inc. 561,343 860,326.0 7/18/2012 Pinnacle Financial Partners, Inc. 7/18/2012 Taylor Capital Group 267,455 7/18/2012 United Bancorp, Inc. 9,839,273.0 311,492 7/25/2012 Fremont Bancorporation 1,750,000 1,750,000.0 7/25/2012 Southern First Bancshares, Inc. 399,970 1,100,000.0 a 755,000.0 1,462,647 38,000.0 8/1/2012 VIST Financial Corp. 367,984 1,189,813.0 8/7/2012 CBS Banc-Corp. 315 287,213.9 8/7/2012 Fidelity Financial Corporation 179 170,227.9 8/7/2012 Marquette National Corporation 175 142,974.6 8/7/2012 Park Bancorporation, Inc. 114 88,059.0 8/7/2012 Trinity Capital Corporation 175 163,062.9 8/8/2012 Exchange Bank 2,000 1,910,898.0 8/8/2012 Fidelity Financial Corporation 176 167,374.9 8/8/2012 First Community Financial Partners, Inc. 108 70,727.6 8/8/2012 Nara Bancorp, Inc./BBCN Bancorp, Inc. 521,266 2,189,317.2 8/8/2012 Peoples Bancorp of North Carolina, Inc. 357,234 425,000.0 778,421 1,100,000.0 756 689,313.2 8/8/2012 Pulaski Financial Corp. 8/9/2012 CBS Banc-Corp. 8/9/2012 Commonwealth Bancshares, Inc. 900,000 792,990.0 8/9/2012 Diamond Bancorp, Inc.a 902,000 688,041.1 a Continued on next page 519 520 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 6/30/2016 (CONTINUED) Number of Warrants Repurchased Amount of Repurchase ($ Thousands) 126 $120,386.6 1,273 1,210,615.4 672 440,082.7 380 311,681.7 895,000 727,225.5 Repurchase Date Institution 8/9/2012 Exchange Bank 8/9/2012 Fidelity Financial Corporation 8/9/2012 First Community Financial Partners, Inc. 8/9/2012 First Western Financial, Inc. 8/9/2012 Market Street Bancshares, Inc.a 8/9/2012 Marquette National Corporation 1,291 1,054,743.8 8/9/2012 Park Bancorporation, Inc. 625 482,779.7 8/9/2012 Trinity Capital Corporation 1,396 1,300,776.1 8/10/2012 CBS Banc-Corp. 144 131,297.8 8/10/2012 Commonwealth Bancshares, Inc.a 120,000 105,732.0 120,000 91,535.4 24 22,930.8 8/10/2012 Diamond Bancorp, Inc. 8/10/2012 Exchange Bank 8/10/2012 Fidelity Financial Corporation 186 176,884.9 8/10/2012 First Community Financial Partners, Inc. 320 209,563.2 8/10/2012 First Western Financial, Inc. 48 39,370.3 8/10/2012 a Market Street Bancshares, Inc. 120,000 97,505.1 8/10/2012 Marquette National Corporation 309 252,452.2 8/10/2012 Park Bancorporation, Inc. 421 325,200.4 8/10/2012 Trinity Capital Corporation 206 191,948.3 698,554 2,670,000.0 695 624,674.7 8/22/2012 Ameris Bancorp 8/29/2012 First National Corporation 9/5/2012 First Citizens Banc Corp 469,312 563,174.0 9/12/2012 Blackridge Financial, Inc. 250 250,000.0 9/12/2012 Indiana Community Bancorp 188,707 1,800,000.0 9/12/2012 WSFS Financial Corporation 175,105 1,800,000.0 9/18/2012 F & M Financial Corporation (NC) 150 136,813.1 543,337 939,920.0 112 96,465.6 9/19/2012 BNC Bancorp 9/19/2012 F&M Financial Corporation (TN) 9/19/2012 Sterling Financial Corporation 9/20/2012 Alpine Banks of Colorado 97,541 825,000.0 3,500 3,291,750.0 9/20/2012 9/21/2012 F & M Financial Corporation (NC) 700 638,460.9 F&M Financial Corporation (TN) 750 645,975.0 9/26/2012 Tristate Capital Holdings, Inc. 1,150 1,150,000.0 10/24/2012 10/31/2012 First BancTrust Corporation 368 368,000.0 Blackhawk Bancorp, Inc. 500 470,250.0 10/31/2012 Blue Ridge Bancshares, Inc. 600 541,793.3 10/31/2012 Congaree Bancshares, Inc. 164 106,364.0 10/31/2012 First Gothenburg Bancshares, Inc. 379 362,118.9 10/31/2012 Germantown Capital Corporation 248 214,595.3 10/31/2012 Hometown Bankshares Corporation 374 315,461.5 10/31/2012 Peoples Bancshares of TN, Inc. 195 122,225.0 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 6/30/2016 (CONTINUED) Number of Warrants Repurchased Amount of Repurchase ($ Thousands) 375 $371,250.0 Repurchase Date Institution 10/31/2012 The Little Bank, Incorporated 11/1/2012 Centerbank 11/1/2012 First Community Corporation 11/1/2012 Fresno First Bank 98 98,000.0 11/1/2012 LCB Financial 300 300,000.0 11/1/2012 Metro City Bank 385 369,948.0 11/9/2012 Bankgreenville Financial Corporation 11/9/2012 Capital Pacific Bancorp 11/9/2012 Farmers Enterprises, Inc.a 38,000 37,387.1 11/9/2012 First Freedom Bancshares, Inc. 261 256,118.8 11/9/2012 Franklin Bancorp, Inc. 188 126,798.6 11/9/2012 Regional Bankshares, Inc. 75 50,000.0 11/9/2012 Three Shores Bancorporation, Inc. 284 282,284.6 11/9/2012 Western Illinois Bancshares, Inc. 343 335,417.1 11/13/2012 F&C Bancorp. Inc. 150,000 125,000.0 562,000 552,936.0 67 45,188.9 113 11/13/2012 Farmers Enterprises, Inc. Franklin Bancorp, Inc. 11/13/2012 Sound Banking Company 11/14/2012 PrivateBancorp, Inc. 11/28/2012 First South Bancorp, Inc.a 11/29/2012 CBB Bancorp 11/29/2012 11/29/2012 297,500.0 50 21,880.5 200 a 11/13/2012 84,057.4 195,915 169,042.0 154 124,412.3 645,013 1,225,000.0 2,500,000 2,500,000.0 132 115,861.3 Clover Community Bankshares, Inc. 150 114,021.5 Country Bank Shares, Inc. 376 372,240.0 11/29/2012 Layton Park Financial Group, Inc. 150 104,375.0 11/29/2012 TriSummit Bank 138 124,665.8 11/30/2012 Bank of Commerce 150 100,100.0 11/30/2012 Community Business Bank 199 167,035.0 11/30/2012 Community Holding Company of Florida, Inc./Community Bancshares of Mississippi, Inc. 5 25,000.0 11/30/2012 Corning Savings And Loan Association 32 3,960.0 11/30/2012 FFW Corporation 364 358,558.2 11/30/2012 Hometown Bancshares, Inc. 95 70,095.0 11/30/2012 KS Bancorp, Inc 11/30/2012 Pacific Capital Bancorp 11/30/2012 200 140,400.0 15,120 393,120.8 Western Reserve Bancorp, Inc. 235 235,000.0 12/5/2012 Moscow Bancshares, Inc. 311 311,000.0 12/10/2012 First Advantage Bancshares, Inc. 6 2,979.5 14,000 11,385.0 97 83,086.1 12/10/2012 Manhattan Bancshares, Inc. 12/10/2012 Presidio Bank 12/10/2012 The Baraboo Bancorporation, Inc. 12/11/2012 Central Community Corporation a 487 403,161.9 1,100 1,058,725.8 Continued on next page 521 522 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 6/30/2016 (CONTINUED) Number of Warrants Repurchased Amount of Repurchase ($ Thousands) First Advantage Bancshares, Inc. 53 $26,318.8 12/11/2012 First American Bank Corporation 2,500,000 2,500,000.0 12/11/2012 Foresight Financial Group, Inc. 750 750,000.0 12/11/2012 HPK Financial Corporation 12/11/2012 Manhattan Bancshares, Inc.a 12/11/2012 Repurchase Date Institution 12/11/2012 a 344 344,000.0 118,000 95,959.5 Presidio Bank 228 195,295.2 12/11/2012 Security Bancshares of Pulaski County, Inc. 108 69,186.8 12/11/2012 The Baraboo Bancorporation, Inc. 550 455,316.4 12/19/2012 Century Financial Services Corporation 200,000 198,635.6 12/19/2012 Community 1st Bank 128 128,000.0 12/19/2012 First Business Bank, National Association/Bank of Southern California, N.A. 111 90,461.7 398,734 1,300,000.0 15 15,000.0 12/19/2012 Mackinac Financial Corporation 12/19/2012 The Freeport State Bank 12/20/2012 Bank Financial Services, Inc. 12/20/2012 Century Financial Services Corporationa 12/20/2012 50 23,500.0 300,000 297,953.4 Community Investors Bancorp, Inc. 130 105,000.0 12/20/2012 First Alliance Bancshares, Inc. 171 94,701.7 12/20/2012 Hyperion Bank 78 25,700.0 12/21/2012 Community Financial Shares, Inc. 349 157,050.0 12/28/2012 Monadnock Bancorp, Inc. 92 92,000.0 12/28/2012 Northeast Bancorp 1/9/2013 Enterprise Financial Services Corp. 1/9/2013 Northwest Commercial Bank 1/16/2013 HopFed Bancorp 1/23/2013 Mid Penn Bancorp, Inc./Mid Penn Bank 67,958 95,000.0 324,074 1,006,100.0 100 100,000.0 253,666 256,257.0 73,099 58,479.2 2/6/2013 First Capital Bancorp, Inc. 417,648 266,041.8 2/6/2013 Oak Ridge Financial Services, Inc. 163,830 122,887.5 2/6/2013 Waukesha Bankshares, Inc.a 2/7/2013 Alliance Financial Services, Inc. 2/7/2013 Biscayne Bancshares, Inc.a 64,000 64,159.0 2/7/2013 Citizens Bancshares Co. 500 258,018.8 2/7/2013 Delmar Bancorp 450 311,943.6 2/7/2013 Dickinson Financial Corporation II 5 3,372.2 2/7/2013 F & M Bancshares, Inc. 230 222,007.5 2/7/2013 First Priority Financial Corp. 49 48,083.6 2/7/2013 Waukesha Bankshares, Inc. 150 147,194.7 140,000 140,347.8 750 387,028.1 7,298 4,922,044.9 180 176,633.6 2/8/2013 Biscayne Bancshares, Inc. 2/8/2013 Citizens Bancshares Co. 2/8/2013 Dickinson Financial Corporation II 2/8/2013 First Priority Financial Corp. 19 18,644.7 600,000 504,900.0 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 6/30/2016 (CONTINUED) Number of Warrants Repurchased Repurchase Date BancTrust Financial Group, Inc. 2/19/2013 National Bancshares, Inc. 2/20/2013 730,994 Institution 2/15/2013 FC Holdings, Inc. Amount of Repurchase ($ Thousands) $15,000.0 500 2/20/2013 Ridgestone Financial Services, Inc. a 644,726.2 733 First Trust Corporation National Bancshares, Inc. 994,613.4 898,000 2/20/2013 2/20/2013 342,842.0 1,052 502,606.3 545 476,206.8 3/8/2013 Boscobel Bancorp, Inc. 179,000 232,180.5 3/8/2013 Coastalsouth Banchares, Inc. 450 389,857.1 3/8/2013 Santa Clara Valley Bank, N.A 145 98,251.5 3/8/2013 The Queensborough Company 5 4,806.5 100,000 129,709.8 30 25,990.5 3/11/2013 Boscobel Bancorp, Inc. 3/11/2013 Coastalsouth Banchares, Inc. 3/11/2013 First Reliance Bancshares, Inc. 767 624,632.5 3/11/2013 Northwest Bancorporation, Inc. 525 587,634.6 3/11/2013 SouthCrest Financial Group, Inc. 645 588,264.2 3/11/2013 The Queensborough Company 595 571,967.6 3/26/2013 Stonebridge Financial Corp. 516 130,704.2 3/27/2013 Alliance Bancshares, Inc. 3/27/2013 Fidelity Bancorp, Inc. (LA)a 3/27/2013 First Southwest Bancorporation, Inc. 3/27/2013 Stonebridge Financial Corp. 3/28/2013 Alliance Bancshares, Inc. 3/28/2013 AmFirst Financial Services, Inca 3/28/2013 First Southwest Bancorporation, Inc. a 4/10/2013 Coastal Banking Company, Inc. 4/19/2013 BCSB Bancorp, Inc. 101 94,153.7 197,000 197,000.0 225 206,048.2 33 8,359.0 48 44,746.3 250,000 259,875.0 50 45,788.5 60,000 99,000.0 183,465 1,442,000.0 4/19/2013 Carolina Bank Holdings, Inc. 357,675 1,800,000.0 4/19/2013 Carrollton Bancorp 205,379 213,594.2 4/24/2013 Business Bancshares, Inc. 750 750,000.0 4/24/2013 Green Circle Investments, Inc. 120 120,000.0 4/24/2013 NEMO Bancshares, Inc. 117,000 117,000.0 4/26/2013 Mid-Wisconsin Financial Services, Inc. 500 500,000.0 4/26/2013 Tennessee Valley Financial Holdings, Inc. 20 19,218.9 4/29/2013 Bancstar, Inc. 430 426,338.6 4/29/2013 Brogan Bankshares, Inc.a 120,000 125,135.6 4/29/2013 Plato Holdings Inc. 107,000 90,582.5 4/29/2013 Tennessee Valley Financial Holdings, Inc. 130 124,922.6 a a 5/15/2013 Guaranty Federal Bancshares, Inc. 5/15/2013 Newbridge Bancorp 459,459 2,003,250.0 2,567,255 7,778,782.7 5/15/2013 River Valley Bancorporation, Inc.a 750,000 750,000.0 5/15/2013 TowneBank 554,330 1,500,000.0 Continued on next page 523 524 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 6/30/2016 Repurchase Date Institution 5/22/2013 First Financial Holdings Inc. (CONTINUED) Number of Warrants Repurchased Amount of Repurchase ($ Thousands) 241,696 $1,400,000.0 5/22/2013 Plumas Bancorp 237,712 234,500.0 5/29/2013 Southwest Bancorp, Inc. 703,753 2,287,197.0 276,078 2,150,648.6 185 185,000.0 5/29/2013 The Bank of Kentucky Financial Corporation 6/5/2013 Patterson Bancshares, Inc. 6/12/2013 Coastal Banking Company, Inc. 145,579 225,647.5 287,134 540,000.0 115 115,000.0 6/12/2013 Hawthorn Bancshares, Inc. 6/12/2013 IBT Bancorp, Inc. 6/24/2013 Farmers & Merchants Financial Corporation 6/24/2013 Pathway Bancorp 6/24/2013 Security State Bank Holding Companya 6/24/2013 Worthington Financial Holdings, Inc. 7/10/2013 Vision Bank - Texas 75 75,000.0 7/17/2013 Commonwealth Business Bank 385 362,427.9 7/22/2013 Alarion Financial Services, Inc. 326 337,363.4 7/22/2013 Coloeast Bankshares, Inc. 50 494,381.3 7/22/2013 Crosstown Holding Company 533 531,210.7 7/22/2013 Fidelity Federal Bancorp 200 242,302.5 7/22/2013 Mountain Valley Bancshares, Inc. 165 140,034.7 7/22/2013 Omega Capital Corp. 7/22/2013 Premier Financial Corp.a 22 -2,835.0 186 226,565.0 538,000 720,368.6 136 90,940.0 141 159,886.3 317,000 478,590.8 7/24/2013 New York Private Bank & Trust Corporation 13,364 13,364,000.0 7/31/2013 Security Federal Corporation 137,966 50,000.0 8/7/2013 Heritage Oaks Bancorp 611,650 1,575,000.0 8/9/2013 First Banks, Inc. 8/12/2013 Community Pride Bank Corporationa 4,299 2,430,181.7 132,000 177,717.0 8/12/2013 First Banks, Inc. 10,471 5,919,151.6 8/12/2013 First Intercontinental Bank 320 139,320.0 8/12/2013 Universal Bancorp 495 476,573.6 8/12/2013 Virginia Company Bank 143 63,481.3 81,670 190,781.1 163 163,000.0 764,778 2,707,314.0 8/28/2013 Avidbank Holding, Inc./Peninsula Bank Holding Co. 8/28/2013 Hometown Bancorp of Alabama, Inc. 8/28/2013 Unity Bancorp, Inc. 8/30/2013 BNB Financial Services Corporation 8/30/2013 First M&F Corporation 9/18/2013 PeoplesSouth Bancshares, Inc. 9/24/2013 Desoto County Bank 9/25/2013 9/25/2013 375 375,000.0 513,113 4,089,510.6 616 616,000.0 59 40,563.3 Ojai Community Bank 104 104,000.0 RCB Financial Corporation 268 253,383.3 9/25/2013 Reliance Bancshares, Inc. 2,000 2,199,799.8 9/25/2013 Todd Bancshares, Inc. 200 200,000.0 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 6/30/2016 Repurchase Date (CONTINUED) Number of Warrants Repurchased Institution 9/30/2013 Randolph Bank & Trust Company 10/1/2013 Commerce National Bank 10/2/2013 10/16/2013 10/16/2013 Uwharrie Capital Corp 10/18/2013 Oregon Bancorp, Inc. 10/21/2013 Bank of George 10/21/2013 Oregon Bancorp, Inc. 10/21/2013 Spirit BankCorp, Inc. 10/21/2013 Valley Community Bank 11/13/2013 Valley Financial Corporation 11/19/2013 Bridgeview Bancorp, Inc. 11/19/2013 Madison Financial Corporation 11/19/2013 Amount of Repurchase ($ Thousands) 311 $311,000.0 87,209 566,858.5 Union Financial Corporation 65 65,000.0 Independence Bank 53 53,000.0 500 500,000.0 11 9,459.1 134 23,709.0 150 128,988.1 1,500 631,941.8 275 45,815.3 344,742 1,547,891.6 1,900 709,155.8 169 182,878.5 Midtown Bank & Trust Company 261 136,833.1 11/19/2013 Pacific City Financial Corporation 810 1,156,636.5 11/20/2013 CedarStone Bank 178 178,000.0 1,846,374 13,107,778.3 302,623 2,920,000.0 12/9/2013 Cathay General Bancorp 12/18/2013 Stellarone Corporation 12/31/2013 Farmers Bank, Windsor, Virginia 438 438,000.0 1/31/2014 Premier Service Bank 200 200,000.0 1/31/2014 Virginia Commerce Bancorp, Inc. 2,696,203 33,263,000.0 2/7/2014 Atlantic Bancshares, Inc. 88 95,031.0 2/7/2014 Community First Bancshares, Inc. (AR) 86 85,157.9 2/10/2014 Atlantic Bancshares, Inc. 10 10,799.0 2/10/2014 Community First Bancshares, Inc. (AR) 550 544,614.3 2/10/2014 Georgia Primary Bank 225 45,312.5 2/10/2014 Pacific Commerce Bank 203 109,487.5 3/14/2014 BNCCORP, Inc. 30 29,737.1 3/17/2014 BNCCORP, Inc. 975 966,456.6 3/17/2014 Chicago Shore Corporation 350 347,193.0 3/17/2014 IA Bancorp, Inc/Indus American Bank 179 186,513.5 3/17/2014 Meridian Bank 310 262,399.5 3/19/2014 Kirksville Bancorp, Inc. 24 24,000.0 4/1/2014 Alaska Pacific Bancshares, Inc. 175,772 2,370,908.3 4/2/2014 Duke Financial Group, Inc.a 600,000 600,000.0 4/11/2014 Community First, Inc. 140 72,314.6 4/11/2014 Freeport Bancshares, Inc. 4/11/2014 Patriot Bancshares, Inc. 4/14/2014 Community First, Inc. 4/14/2014 Freeport Bancshares, Inc. 4/14/2014 Great River Holding Company 100,000 84,514.3 802 a 1,035,834.3 750 a 387,399.4 50,000 42,257.2 420,000 626,007.7 Continued on next page 525 526 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 6/30/2016 (CONTINUED) Number of Warrants Repurchased Amount of Repurchase ($ Thousands) Patriot Bancshares, Inc. 500 $645,782.0 4/23/2014 Wachusett Financial Services, Inc. 478 478,000.0 4/24/2014 Bankers' Bank of The West Bancorp, Inc. 632 632,000.0 4/30/2014 Covenant Financial Corporation 250 250,000.0 5/14/2014 C&F Financial Corporation 167,504 2,303,180.0 5/14/2014 Riverside Bancshares, Inc.a 55,000 55,000.0 Repurchase Date Institution 4/14/2014 6/4/2014 Community Bankers Trust Corporation 780,000 780,000.0 6/11/2014 Crescent Financial Bancshares, Inc. (Crescent Financial Corporation)/VantageSouth Bancshares, Inc. 833,705 1,681,000.0 6/11/2014 ECB Bancorp, Inc./Crescent Financial Bancshares, Inc./ VantageSouth Bancshares, Inc. 514,693 871,000.0 6/25/2014 Private Bancorporation, Inc. 248 248,000.0 7/1/2014 BCB Holding Company, Inc. 85 85,000.0 7/1/2014 Marine Bank & Trust Company 111 55,870.0 7/2/2014 Marine Bank & Trust Company 7/2/2014 Market Bancorporation, Inc. 7/2/2014 Maryland Financial Bank 85 1,775.0 7/2/2014 United American Bank 435 138,607.9 7/2/2014 White River Bancshares Company 840 1,002,535.4 7/3/2014 Marine Bank & Trust Company 1 503.3 7/16/2014 First Community Bancshares, Inc./Equity Bancshares, Inc. 740 740,000.0 7/23/2014 Greer Bancshares Incorporated 7/23/2014 Popular, Inc. 8/29/2014 Central Bancorp, Inc. (TX) 1,125 1,125,000.0 9/3/2014 Intervest Bancshares Corporation 691,882 2,892,066.0 508,320 2,000.0 65,323 10,635.0 38 19,126.7 103 108,471.5 500 500,000.0 2,093,284 3,000,000.0 10/15/2014 Centrue Financial Corporation 10/31/2014 Intermountain Community Bancorp 11/19/2014 Crazy Woman Creek Bancorp Incorporated 155 155,000.0 12/4/2014 Lone Star Bank 154 67,401.5 1/7/2015 Blue Valley Ban Corp 130,977 3,056.0 1/14/2015 Liberty Bancshares, Inc. (TX) 196 196,000.0 2/11/2015 Community Bancshares, Inc. 116 116,000.0 3/11/2015 First Defiance Financial Corp. 550,595 11,979,295.0 3/17/2015 U.S. Century Bank 2,512 586,953.9 4/1/2015 Chambers Bancshares, Inc. 991,000 991,000.0 4/15/2015 Citizens First Corporation 254,218 1,705,802.8 5/6/2015 Fidelity Bancorp, Inc. (PA)/Wesbanco, Inc. 101,321 2,246,531.0 5/6/2015 Premier Financial Bancorp, Inc. 636,378 5,675,000.0 5/6/2015 The Elmira Savings Bank, FSB 151,030 1,486,292.1 5/13/2015 Citizens Republic Bancorp, Inc./Firstmerit Corporation 2,571,998 12,150,120.4 5/13/2015 Eastern Virginia Bankshares, Inc. 384,041 115,000.0 5/13/2015 Southern Missouri Bancorp, Inc. 231,891 2,700,000.0 Continued on next page CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 CPP WARRANT SALES AND REPURCHASES (PUBLIC AND PRIVATE), AS OF 6/30/2016 Repurchase Date Institution 5/13/2015 The First Bancshares, Inc. (CONTINUED) Number of Warrants Repurchased Amount of Repurchase ($ Thousands) 54,705 $302,410.0 5/13/2015 United Bancorporation of Alabama, Inc. 111,258 10,125.0 6/29/2015 Citizens Bank & Trust Company, Established 1945 120 53,015.6 6/29/2015 CSRA Bank Corp. 120 141,815.6 6/29/2015 Metropolitan Capital Bancorp, Inc. 102 84,445.9 6/29/2015 Prairie Star Bancshares, Inc. 140 164,018.2 6/29/2015 SouthFirst Bancshares, Inc. 138 140,617.9 7/1/2015 First Financial Service Corporation/Your Community Bankshares, Inc. 215,983 2,500.0 7/8/2015 Grand Financial Corporationa 122,000 122,000.0 7/15/2015 Farmers & Merchants Bancshares, Inc. 7/16/2015 Suburban Illinois Bancorp, Inc.a 8/28/2015 Patapsco Bancorp, Inc. 2/17/2016 Calvert Financial Corporation 3/23/2016 US Metro Bank Total 550 550,000.0 750,000 750,000.0 300 300,000.0 52 52,000.0 143 143,000.0 489,043,269 $4,104,194,132.2 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 T reasury 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. d T reasury 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 $3.0 million which corresponds to the 150,000 warrants repurchased. e The liquidation preference is at 10,000 per share as opposed to the typical 1,000 per share. f Warrant sales to third parties. g State Street Corporation reduced its original amount of warrants issued through a qualified equity offering. Sources: Treasury, Transactions Report, 7/5/2016; Treasury, responses to SIGTARP data call, 7/11/2016. 527 528 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 TABLE E.8 PUBLIC TREASURY WARRANT AUCTIONS, AS OF 6/30/2016 Auction Date 3/3/2010 Number of Warrants Offered Bank of America B Auction (CPP) a Net Warrant Proceeds to Treasury ($ Millions) $7.00 $8.35 $1,236.8 121,792,790 1.50 2.55 305.9 88,401,697 Bank of America A Auction (TIP)a Selling Price 150,375,940 Company Minimum Bid Price 8.00 10.75 936.1 12/10/2009 JPMorgan Chase 5/20/2010 Wells Fargo and Company 110,261,688 6.50 7.70 840.4 9/21/2010 Hartford Financial Service Group, Inc. 52,093,973 10.50 13.70 706.3 4/29/2010 PNC Financial Services Group, Inc. 16,885,192 15.00 19.20 320.4 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 16.60 213.7 5/6/2010 Comerica Inc. 11,479,592 15.00 16.00 181.1 12/3/2009 Capital One 12,657,960 7.50 11.75 146.5 11/29/2012 M&T Bank Corporation 1,218,522 23.50 26.50 31.8 2/8/2011 Wintrust Financial Corporation 1,643,295 13.50 15.80 25.6 6/2/2011 Webster Financial Corporation 3,282,276 5.50 6.30 20.4 SunTrust A Auction 6,008,902 2.00 2.70 16.2 11,891,280 1.05 1.20 14.2 1,707,456 5.00 9.15 15.4 b 9/22/2011 SunTrust B Auction b 3/9/2010 Washington Federal, Inc. 3/10/2010 Signature Bank 595,829 16.00 19.00 11.2 12/15/2009 TCF Financial 3,199,988 1.50 3.00 9.4 12/5/2012 Zions Bancorporation 5,789,909 0.90 1.35 7.7 3/11/2010 Texas Capital Bancshares, Inc. 758,086 6.50 8.85 6.6 2/1/2011 Boston Private Financial Holdings, Inc. 2,887,500 1.40 2.20 6.2 5/18/2010 Valley National Bancorp 2,532,542 1.70 2.20 5.4 11/30/2011 Associated Banc-Corpc 3,983,308 0.50 0.90 3.4 6/2/2010 First Financial Bancorp 6/9/2010 Sterling Bancshares Inc. Total 465,117 4.00 6.70 3.0 2,615,557 0.85 1.15 2.9 1,090,695,026 $5,378.3 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 7/1/2016; Valley National Bancorp, “Final Prospectus Supplement,” 5/18/2010, www.sec.gov/Archives/edgar/data/714310/000119312510123896/d424b5.htm, accessed 7/1/2016; Comerica Incorporated, “Final Prospectus Supplement,” 5/6/2010, www.sec.gov/Archives/edgar/data/28412/000119312510112107/d424b5.htm, accessed 7/1/2016; Wells Fargo and Company, “Definitive Prospectus Supplement,” 5/20/2010, www.sec.gov/Archives/edgar/data/72971/000119312510126208/d424b5.htm, accessed 7/1/2016; First Financial Bancorp, “Prospectus Supplement,” 6/2/2010, www.sec.gov/Archives/edgar/data/708955/000114420410031630/v187278_424b5.htm, accessed 7/1/2016; Sterling Bancshares, Inc., “Prospectus Supplement,” 6/9/2010, www.sec.gov/Archives/edgar/data/891098/000119312510136584/dfwp.htm, accessed 7/1/2016; 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 7/1/2016; Texas Capital Bancshares, Inc., “Prospectus Supplement,” 3/11/2010, www.sec.gov/Archives/edgar/data/1077428/000095012310023800/d71405ae424b5.htm, accessed 7/1/2016; Bank of America, “Form 8-K,” 3/3/2010, www.sec.gov/Archives/edgar/ data/70858/000119312510051260/d8k.htm, accessed 7/1/2016; Bank of America, “Prospectus Supplement,” 3/1/2010, www.sec.gov/Archives/edgar/data/70858/000119312510045775/ d424b2.htm, accessed 7/1/2016; Washington Federal, Inc., “Prospectus Supplement,” 3/9/2010, www.sec.gov/Archives/edgar/data/936528/000119312510052062/d424b5.htm, accessed 7/1/2016; TCF Financial, “Prospectus Supplement,” 12/16/2009, www.sec.gov/Archives/edgar/data/814184/000104746909010786/a2195869z424b5.htm, accessed 7/1/2016; JPMorgan Chase, “Prospectus Supplement,” 12/11/2009, www.sec.gov/Archives/edgar/data/19617/000119312509251466/d424b5.htm, accessed 7/1/2016; Capital One Financial, “Prospectus Supplement,” 12/3/2009, www.sec.gov/Archives/edgar/data/927628/000119312509247252/d424b5.htm, accessed 7/1/2016; 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 7/1/2016; 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 7/1/2016; Lincoln National Corporation, Prospectus Supplement to Prospectus filed with SEC 3/10/2009, www.sec.gov/Archives/edgar/data/59558/000119312510211941/ d424b5.htm, accessed 7/1/2016; Lincoln National Corporation, 8-K, 9/22/2010, www.sec.gov/Archives/edgar/data/59558/000119312510214540/d8k.htm, accessed 7/1/2016; 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 7/1/2016; Citigroup, Prospectus, 1/24/2011, www.sec.gov/Archives/edgar/data/831001/000095012311004665/y89177b7e424b7.htm, accessed 7/1/2016; Citigroup, Prospectus, 1/24/2011, www.sec.gov/Archives/edgar/data/831001/000095012311004665/y89177b7e424b7.htm, accessed 7/1/2016; Boston Private Financial Holdings, Inc., Prospectus, 1/28/2011, www.sec.gov/Archives/edgar/data/821127/000119312511021392/d424b5.htm, accessed 7/1/2016; Boston Private Financial Holdings, Inc. 8-K, 2/7/2011, www.sec. gov/Archives/edgar/data/821127/000144530511000189/tarpwarrant020711.htm, accessed 7/1/2016; Wintrust Financial Corporation, Prospectus, 2/8/2011, www.sec.gov/Archives/edgar/ data/1015328/000095012311011007/c62806b5e424b5.htm, accessed 7/1/2016; 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 7/1/2016; Treasury, Citigroup Preliminary Prospectus – CPP Warrants, 1/24/2011, www.sec.gov/Archives/edgar/data/831001/000095012311004666/y89178b7e424b7.htm, accessed 7/1/2016; Citigroup, Preliminary Prospectus – TIP & AGP Warrants, 1/24/2011, www.sec.gov/Archives/edgar/data/831001/000095012311004665/y89177b7e424b7.htm, accessed 7/1/2016; 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 7/1/2016; “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 7/1/2016; 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 7/1/2016; 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 7/1/2016. CPP SUPPLEMENTAL DATA I APPENDIX E I JULY 27, 2016 TABLE E.9 PRIVATE TREASURY WARRANT AUCTIONS AS OF 6/30/2016 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 529 530 APPENDIX E I CPP SUPPLEMENTAL DATA I JULY 27, 2016 PRIVATE TREASURY WARRANT AUCTIONS AS OF 6/30/2016 (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 7/1/2016; “Treasury Completes Auction to Sell Warrants Positions,” 6/6/2013, www.treasury.gov/press-center/press-releases/Pages/jl1972.aspx, accessed 7/1/2016; “Treasury Completes Auction to Sell Warrant Positions,” 5/21/2015, www.treasury.gov/press-center/press-releases/Pages/jl10058.aspx, accessed 7/1/2016. 531 APPENDIX F I OFS SERVICE CONTRACTS I JULY 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 62,507,635 61,931,335 10/16/2008 PricewaterhouseCoopers LLP Internal control services Contract 33,505,992 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 Squire, Sanders & Dempsey LLP Legal services for the Capital Purchase Program Contract 2,687,999 2,687,999 10/29/2008 Hughes Hubbard & Reed LLP Legal services for the Capital Purchase Program Contract 2,835,357 2,835,357 10/31/2008 Lindholm & Associates, Inc. Human resources services Contract 614,963 614,963 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 Thacher Proffitt & Wood LLP4 Admin action to correct system issue Contract — — 12/10/2008 Sonnenschein Nath & Rosenthal LLP4 Legal services for the purchase of asset-backed securities Contract 102,769 102,769 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 Whitaker Brothers Business Machines Inc Paper Shredder Contract 3,213 3,213 1/27/2009 Cadwalader Wickersham & Taft LLP Bankruptcy Legal Services Contract 409,955 409,955 1/30/2009 Sonnenschein Nath & Rosenthal LLP4 Legal services related to auto industry loans Contract 2,702,441 2,702,441 Continued on next page OFS SERVICE CONTRACTS I APPENDIX F I JULY 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 Freddie Mac Homeownership Preservation Program Financial Agent 398,601,303 387,903,772 2/18/2009 Fannie Mae Homeownership Preservation Program Financial Agent 586,935,037 569,546,042 2/20/2009 Office of Thrift Supervision Detailees Interagency Agreement 189,533 189,533 2/20/2009 Venable LLP Capital Assistance Program (II) Legal Services Contract 1,394,724 1,394,724 2/20/2009 Simpson Thacher & Bartlett LLP Capital Assistance Program (I) Contract 1,530,023 1,530,023 2/20/2009 Financial Clerk U.S. Senate Congressional Oversight Panel Interagency Agreement 3,394,348 3,394,348 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 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 Haynes and Boone LLP Auto Investment Legal Services Contract 345,746 345,746 3/30/2009 Sonnenschein Nath & Rosenthal LLP4 Auto Investment Legal Services Contract 1,834,193 1,834,193 3/30/2009 Cadwalader Wickersham & Taft LLP Auto Investment Legal Services Contract 17,392,786 17,392,786 3/31/2009 FI Consulting Inc. Credit Reform Modeling and Analysis Contract 4,627,761 4,058,275 Continued on next page 532 533 APPENDIX F I OFS SERVICE CONTRACTS I JULY 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 4,099,923 4,099,923 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 Piedmont Investment Advisors, LLC Asset Management Services Financial Agent 12,896,927 12,896,927 4/21/2009 FSI Group, LLC Asset Management Services Financial Agent 27,438,003 27,438,003 4/21/2009 AllianceBernstein L.P. Asset Management Services Financial Agent 52,918,637 52,603,149 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 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 7/30/2009 Cadwalader Wickersham & Taft LLP Restructuring Legal Services Contract 1,278,696 1,278,696 Continued on next page 534 OFS SERVICE CONTRACTS I APPENDIX F I JULY 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 $54,679 $54,679 Detailees Interagency Agreement 140,889 140,889 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 Nna Incorporated Newspaper Delivery Contract 8,220 8,220 9/30/2009 ImmixTechnology, Inc. Professional Services Contract 18,000 — 9/30/2009 ImmixTechnology, Inc. eDiscovery Contract 210,184 — 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 Raymond James & Associates Inc. (f/k/a Howe Barnes Hoefer & Arnett, Inc.) Asset Management Services Financial Agent 432,068 432,068 12/22/2009 Avondale Investments, LLC Asset Management Services Financial Agent 772,657 772,657 12/22/2009 Hughes Hubbard & Reed LLP Document Production Services and Litigation Support Contract 2,053,503 1,202,402 12/22/2009 Bell Rock Capital, LLC Asset Management Services Financial Agent 2,815,292 2,815,292 12/22/2009 Lombardia Capital Partners, LLC Asset Management Services Financial Agent 3,217,866 3,217,866 12/22/2009 KBW Asset Management, Inc. Asset Management Services Financial Agent 4,937,433 4,937,433 12/22/2009 Paradigm Asset Management Co., LLC Asset Management Services Financial Agent 5,027,999 5,027,999 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 2/16/2010 Internal Revenue Service (IRS) Detailees Interagency Agreement 52,742 52,742 3 3 Continued on next page 535 APPENDIX F I OFS SERVICE CONTRACTS I JULY 27, 2016 OFS SERVICE CONTRACTS (CONTINUED) Date Vendor Purpose 2/16/2010 The MITRE Corporation FNMA IR2 assessment — OFS task order on Treasury MITRE Contract 2/18/2010 Department of the Treasury ARC 3/8/2010 QualX Corporation 3/12/2010 Department of the Treasury Departmental Offices 3/22/2010 Type of Transaction Obligated Value Expended Value Contract $730,192 $730,192 Administrative Resource Center Interagency Agreement 1,221,140 1,221,140 FOIA Support Services Contract 549,518 549,518 Administrative Support Interagency Agreement 671,731 671,731 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 17,941,006 4/23/2010 RDA Corporation Data and Document Management Consulting Services Contract 11,661,725 11,661,725 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 Regis & Associates, PC Program Compliance Support Services Contract 1,933,726 1,217,418 7/21/2010 Navigant Consulting, Inc. Program Compliance Support Services Contract 7,813,240 4,409,369 7/22/2010 PricewaterhouseCoopers LLP Program Compliance Support Services Contract — — 7/22/2010 Schiff Hardin LLP Housing Legal Services Contract 97,526 97,526 7/22/2010 Ernst & Young LLP Program Compliance Support Services Contract 9,992,449 8,439,642 7/27/2010 West Publishing Corporation Subscription Service for 4 users Contract 6,664 6,664 8/6/2010 Love and Long, LLP Omnibus procurement for legal services Contract — — Continued on next page 536 OFS SERVICE CONTRACTS I APPENDIX F I JULY 27, 2016 OFS SERVICE CONTRACTS (CONTINUED) Date Vendor Purpose 8/6/2010 Orrick, Herrington & Sutcliffe LLP Omnibus procurement for legal services 8/6/2010 Perkins Coie LLP 8/6/2010 Type of Transaction Obligated Value Expended Value Contract $— $— Omnibus procurement for legal services Contract — — Seyfarth Shaw LLP Omnibus procurement for legal services Contract — — 8/6/2010 Venable LLP Omnibus procurement for legal services Contract 1,150 960 8/6/2010 Sullivan Cove Reign Enterprises Jv Omnibus procurement for legal services Contract 50,000 50,000 8/6/2010 Fox, Swibel, Levin & Carroll, LLP Omnibus procurement for legal services Contract 150,412 150,412 8/6/2010 Shulman, Rogers, Gandal, Pordy & Ecker, PA Omnibus procurement for legal services Contract 213,347 213,347 8/6/2010 Alston & Bird LLP Omnibus procurement for legal services Contract 232,482 232,482 8/6/2010 Haynes and Boone LLP Omnibus procurement for legal services Contract 450,000 116,522 8/6/2010 Hughes Hubbard & Reed LLP Omnibus procurement for legal services Contract 3,196,109 1,467,647 8/6/2010 Cadwalader Wickersham & Taft LLP Omnibus procurement for legal services Contract 7,124,142 4,163,835 8/6/2010 Paul, Weiss, Rifkind, Wharton & Garrison LLP Omnibus procurement for legal services Contract 12,348,709 7,539,954 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 4,841,427 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 Department of the Treasury Departmental Offices Administrative Services Interagency Agreement 660,601 660,601 10/1/2010 Financial Clerk U.S. Senate Congressional Oversight Panel Interagency Agreement 5,200,000 2,777,752 10/8/2010 Management Concepts, Inc. Training Course — 11107705 Contract 995 995 Continued on next page 537 APPENDIX F I OFS SERVICE CONTRACTS I JULY 27, 2016 OFS SERVICE CONTRACTS (CONTINUED) Date Vendor Purpose Type of Transaction 10/8/2010 Management Concepts, Inc. Training Course — CON 217 10/8/2010 Management Concepts, Inc. Training Course — CON 216 10/8/2010 Management Concepts, Inc. 10/8/2010 Management Concepts, Inc. 10/8/2010 10/8/2010 Obligated Value Expended Value Contract $1,025 $1,025 Contract 1,025 1,025 Training Course — CON 217 Contract 1,025 1,025 Training Course — Analytic Boot Contract 1,500 1,500 Management Concepts, Inc. Training Course — CON 218 Contract 2,214 2,214 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 Lani Eko & Company, CPAs, LLC Financial Services Omnibus Contract 50,000 — Continued on next page 538 OFS SERVICE CONTRACTS I APPENDIX F I JULY 27, 2016 OFS SERVICE CONTRACTS (CONTINUED) Date Vendor Purpose Type of Transaction 4/27/2011 Ernst & Young LLP Financial Services Omnibus 4/27/2011 MorganFranklin Consulting, LLC Financial Services Omnibus 4/27/2011 Oculus Group LLC 4/27/2011 FI Consulting Inc. 4/27/2011 4/28/2011 Obligated Value Expended Value Contract $697,189 $684,001 Contract $1,772,714 $837,540 Financial Services Omnibus Contract 3,568,873 3,346,406 Financial Services Omnibus Contract 5,833,209 5,388,336 ASR Analytics LLC Financial Services Omnibus Contract 9,505,231 4,992,961 KPMG LLP Financial Services Omnibus Contract — — 4/28/2011 Office of Personnel Management (OPM) - Western Management Development Center Frontline Leadership Training for OFS Managers Interagency Agreement 21,300 — 4/28/2011 Booz Allen Hamilton Inc. Financial Services Omnibus Contract 2,460,434 1,791,793 5/31/2011 West Publishing Corporation Five (5) user subscriptions to CLEAR by West Government Solutions Contract 7,515 7,515 5/31/2011 Reed Elsevier PLC (dba LexisNexis) Accurint subscriptions by LexisNexis for 5 users Contract 10,260 10,260 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 Knowledge Mosaic Inc. Renewing TD010-F-249 SEC filings Subscription Service Contract 4,200 4,200 9/29/2011 Department of the Interior Administrative Services Interagency Agreement 78,000 78,000 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 11/29/2011 Houlihan Lokey, Inc. Transaction Structuring Services Financial Agent 16,175,000 16,100,000 12/20/2011 The Allison Group, LLC Pre-Program and Discovery Process Team Building Contract 19,065 19,065 Continued on next page 539 APPENDIX F I OFS SERVICE CONTRACTS I JULY 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 E-Launch Multimedia, Inc. Subscription Service Contract — — 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 4/2/2012 Cartridge Technologies, Inc. Maintenance Agreement for Canon ImageRunner Contract 31,383 26,153 5/2/2012 Cartridge Technologies, Inc. Maintenance Agreement for Canon ImageRunner Contract 39,229 31,383 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 Continued on next page 540 OFS SERVICE CONTRACTS I APPENDIX F I JULY 27, 2016 OFS SERVICE CONTRACTS (CONTINUED) Type of Transaction Date Vendor Purpose Obligated Value Expended Value 11/19/2012 Government Accountability Office Oversight services Interagency Agreement $5,400,000 $4,252,930 12/13/2012 Association of Govt Accountants CEAR Program Application Contract 5,000 5,000 12/19/2012 Department of the Treasury Departmental Offices Administrative support services for FY 2013 Interagency Agreement 12,884,241 10,810,636 1/1/2013 Lazard Fréres & Co. LLC Transaction Structuring Services Financial Agent 2,708,333 2,708,333 1/1/2013 Lazard Fréres & Co. LLC Transaction Structuring Services Financial Agent 6,060,484 6,060,484 2/13/2013 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 35,045 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 9/26/2013 SNL Financial LC Financial Data Subscription Services — Information Technology Contract 662,000 662,000 11/22/2013 Internal Revenue Service (IRS) Legal Services Interagency Agreement 107,185 107,185 11/22/2013 Department of the Treasury Departmental Offices Administrative Support Interagency Agreement 9,453,973 8,093,305 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 35,402 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 2,513,242 Continued on next page 541 APPENDIX F I OFS SERVICE CONTRACTS I JULY 27, 2016 OFS SERVICE CONTRACTS (CONTINUED) Date Vendor Purpose 3/24/2014 The Mercer Group, Inc. On-line Subscription Service Executive Compensation Data 4/14/2014 Bloomberg Finance L.P. 6/13/2014 Type of Transaction Obligated Value Expended Value Contract $4,472 $4,472 Online Data Repository for AntiFraud Unit Contract 5,700 5,700 The Winvale Group, LLC Administrative Support Contract 438,731 361,155 10/1/2014 Internal Revenue Service Office of Procurement Administrative Support Interagency Agreement 142,262 142,262 10/29/2014 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 6,625,257 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 3,052,227 1,736,564 9/17/2015 Department of the Treasury ARC Support services for compliance with DO and other federal requirements Interagency Agreement 547,114 410,336 10/1/2015 Government Accountability Office IAA — GAO required by P.L. 110343 to conduct certain activities related to TARP Interagency Agreement 600,000 471,134 10/1/2015 Government Accountability Office IAA — GAO required by P.L. 110343 to conduct certain activities related to TARP Interagency Agreement 1,112,488 254,576 11/2/2015 Department of the Treasury Departmental Offices Administrative Support Interagency Agreement 1,939,620 1,451,150 11/23/2015 Department of the Treasury Departmental Offices Administrative Support Interagency Agreement 8,054,733 3,782,253 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 637,314 135,904 1/20/2016 Department of the Interior Administrative Services IAA 25,000 25,000 Hewlett-Packard (HP) Support Services for the Transaction Processing System and the Accounting Sub-Ledger for OFS Contract 1,255,753 250,510 3/18/2016 Continued on next page OFS SERVICE CONTRACTS I APPENDIX F I JULY 27, 2016 OFS SERVICE CONTRACTS (CONTINUED) Type of Transaction Date Vendor Purpose 4/22/2016 RDA Corporation Operation and Maintenance of the OFS SharePoint and Nintex software within the Enterprise Contract Management (ECM) Contract 5/9/2016 Department of the Interior Adminstrative Support IAA 5/20/2016 Paul, Weiss, Rifkind, Wharton & Garrison LLP Legal Services Contract Total Obligated Value Expended Value $1,440,750 $147,900 25,000 25,000 808,365 15,700 $1,667,825,446 $1,574,007,995 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, 7/19/2016. 542 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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