Making Home Affordable

Program Performance Report Through May 2011

Report Highlights Inside:

More Than 730,000 Permanent Modifications Started

• The six-month rate of new trial modifications has consistently been about 30,000 

per month for nearly a year, even as the overall population of eligible delinquent 

homeowners continues to decline. Homeowners who enter a trial modification 

now have a high likelihood of securing a permanent modification and realizing 

long-term success in the program.

• Of homeowners who have begun trial modifications since June 1, 2010, 71% were 

granted permanent modifications with an average time to convert of 3.5 months –

a higher conversion rate and shorter time to convert than earlier in the program. 

At the same time, the number of trials lasting six months or longer continues to 

decrease.

• More than 32,000 new permanent modifications were reported in May, as 

homeowners continue to successfully complete the trial modification period.

• Homeowners receiving permanent modifications have realized aggregate savings 

in monthly mortgage payments of more than $6.8 billion, program to date. 

Inside: Expanded Reporting on Additional MHA Programs 

• Treasury is committed to transparency in reporting on all aspects of Making Home 

Affordable programs.

• New this month: summary data on the Principal Reduction Alternative (PRA). 

While servicers are not required to reduce principal under PRA, homeowners who 

qualify see significant benefits, with the median amount of principal reduced for 

active permanent modifications exceeding $69,000. 

• This month also features expanded detail on the Second Lien Modification and 

Home Affordable Foreclosure Alternative programs.

SUMMARY RESULTS:

First Lien Modification Activity

Second Lien Modification Activity

Additional MHA Program Activity

Waterfall of Eligible Borrowers/

Characteristics of First Lien Modifications

HAMP Activity by State

HAMP Activity by MSA/

Homeowner Outreach

Aged Trials

2

3

4

5

6

7

8

SERVICER RESULTS:

Modification Activity by Servicer

Trial Length

Conversion Rate

Disposition of Homeowners Not in 

HAMP

Homeowner Experience

Modifications by Investor Type

9

10

11

12-13

14

15

APPENDICES:

Participants in MHA Programs 16-17
Making Home Affordable: Summary Results

Program Performance Report Through May 2011

HAMP Activity: First Lien Modifications

Total

HAMP Eligibility 

(As of Apr. 30, 2011)

Eligible Delinquent Loans1 2,636,033 

Eligible Delinquent Borrowers2 1,050,403

Trial

Modifications

Trial Plan Offers Extended (Cumulative)3 1,849,627

All Trials Started 1,614,723

Trials Reported Since April 2011 Report4 26,689

Trial Modifications Canceled (Cumulative) 756,521

Active Trials 126,751

Permanent 

Modifications

All Permanent Modifications Started 731,451

Permanent Modifications Reported Since 

April 2011 Report 32,398

Permanent Modifications Canceled 

(Cumulative)5 97,992

Active Permanent Modifications 633,459

1 Estimated eligible 60+ day delinquent loans as reported by servicers as of April 30, 2011, include conventional loans: 

 in foreclosure and bankruptcy.

 with a current unpaid principal balance less than $729,750 on a one-unit property, $934,200 on a two-unit property, 

$1,129,250 on a three-unit property and $1,403,400 on a four-unit property.

 on a property that was owner-occupied at origination.

 originated on or before January 1, 2009.

Estimated eligible 60+ day delinquent loans exclude: 

 FHA and VA loans.

 loans that are current or less than 60 days delinquent, which may be eligible for HAMP if a borrower is in imminent 

default. 2 The estimated eligible 60+ day delinquent borrowers are those in HAMP-eligible loans, minus estimated exclusions of 

loans on vacant properties, loans with borrower debt-to-income ratio below 31%, loans that fail the NPV test, 

properties no longer owner-occupied, unemployed borrowers, manufactured housing loans with title/chattel issues 

that exclude them from HAMP, loans where the investor pooling and servicing agreements preclude modification, and 

trial and permanent modifications disqualified from HAMP. Exclusions for DTI and NPV results are estimated using 

market analytics. 3 As reported in the weekly servicer survey of large SPA servicers through June 2, 2011. 4 Servicers may enter new trial modifications into the HAMP system of record at anytime. 5 A permanent modification is canceled when the borrower has missed three consecutive monthly payments. Includes 

1,382 loans paid off.

HAMP is designed to lower monthly mortgage payments to help struggling 

homeowners stay in their homes and prevent avoidable foreclosure. 

Note: Unless specified, exhibits in this report refer to HAMP first lien modification activity. 

2

HAMP Trials Started

955

1,049

1,137

1,208

1,256 1,283 1,305 1,329 1,353 1,384 1,414 1,445 1,479 1,509

1,541 1,571 1,598 1,615

0

100

200

300

300

600

900

1,200

1,500

1,800

Dec '09Jan '10 Feb Mar Apr May June July Aug Sep Oct Nov Dec Jan '11 Feb Mar Apr May

New Trials Started (000s)

All Trials Started (000s)

Cumulative Trial Starts (Left Axis)

Monthly Trial Starts (Right Axis)

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

time. For example, 26,689 trials have entered the HAMP system of record since the prior report; of those, 16,317 were 

trials with a first payment recorded in May 2011. 

Permanent Modifications Started (Cumulative)

67

117

170

231

299

347

398

435

468

496

520

550

580

608 634

670

699

731

0

100

200

300

400

500

600

700

800

Dec '09 Jan '10 Feb Mar Apr May June July Aug Sep Oct Nov Dec Jan '11 Feb Mar Apr May

All Permanent Modifications Started (000s)

Source: HAMP system of record.
Making Home Affordable: Summary Results

Program Performance Report Through May 2011

3

The Second Lien Modification Program (2MP) provides assistance to 

homeowners in a first lien permanent modification who have an 

eligible second lien with a participating servicer.

All Second Lien Modifications Started (Cumulative)1 28,817

Second Lien Modifications Involving Full Lien 

Extinguishments 1,524

Second Lien Modifications Disqualified2 188

Active Second Lien Modifications 27,105

Second Lien Modification Program (2MP) Activity 

1 Includes second lien modifications reported into HAMP system of record through the end of cycle for May 

2011 data, though the effective date may occur in June. Number of modifications is net of cancellations, which 

are primarily due to servicer data corrections.

2 Includes 32 loans paid off. 

3 Second lien modifications follow a series of steps and may include capitalization, interest rate reduction, term 

extension and principal forbearance or forgiveness.

See Appendix A2 for servicer participants in additional Making Home 

Affordable programs. 

Of the Active Second Lien Modifications:

Second Lien Partially Extinguished 1,168

Second Lien Loan Modifications3 25,937

Second Lien Modification Activity by Servicer

Servicer

Second Lien 

Modifications 

Started Full Ext. DQ1

Active Partial Ext./

Terms Modified

Bank of America, NA2 12,315 1,341 80 10,894

CitiMortgage, Inc 4,003 0 9 3,994

GMAC Mortgage, LLC 624 0 0 624

J.P. Morgan Chase Bank 

NA3 4,549 0 55 4,494

Wells Fargo Bank, NA4 6,604 106 41 6,457

Other SPA Servicers 722 77 3 642

Total 28,817 1,524 188 27,105

Second Lien Modifications Started (Cumulative)

672 990 1,444 2,106 3,928 5,526

9,414

20,851

24,375

26,933

28,817

0

10,000

20,000

30,000

40,000

Aug 

2010

Sep Oct Nov Dec Jan 

2011

Feb Mar Apr May June

Second Lien Extinguishment Details

Average Amount of Full Extinguishment $65,268

Average Amount of Partial Extinguishment $6,073

Note: Number of modifications started is net of cancellations, which are primarily due to servicer data corrections. 1 Includes second liens paid off.

2 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit 

Corporation.

3 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation.

4 Wells Fargo Bank, NA includes Wachovia Mortgage, FSB. 

Note: Includes second lien modifications reported into HAMP system of record through the end of cycle for 

May 2011 data, though the effective date may occur in June. Number of modifications is net of cancellations, 

which are primarily due to servicer data corrections.
Making Home Affordable: Summary Results

Program Performance Report Through May 2011

The Home Affordable Foreclosure Alternatives Program (HAFA) offers 

incentives for homeowners looking to exit their homes through a short sale 

or deed-in-lieu of foreclosure. HAFA has established important homeowner 

protections and an industry standard for streamlined transactions.

4

All HAFA Agreements Started1 17,781

HAFA Agreements Active 7,652

HAFA Transactions Completed 8,541

Completed Transactions – Short Sale 8,309

Completed Transactions – Deed-in-Lieu 232

Home Affordable Foreclosure Alternatives (HAFA) Activity

HAFA Activity by Servicer

Servicer

Agreements

Started1

Agreements 

Completed

Bank of America, NA2 2,524 1,630

J.P. Morgan Chase Bank NA3 6,120 2,686

Litton Loan Servicing LP 1,044 424

Select Portfolio Servicing, Inc. 1,057 471

Wells Fargo Bank, NA4 5,328 2,478

All Other Servicers 1,708 852

Total 17,781 8,541

1 Servicer agreement with homeowner for terms of potential short sale, which lasts at least 120 days; or agreement for a deedin-lieu transaction. A short sale requires a third-party purchaser and cooperation of junior lienholders and mortgage insurers to 

complete the transaction. All HAFA Agreements Started include HAFA Transactions Active, HAFA Transactions Completed, and 

HAFA Transactions canceled.

2 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit 

Corporation.

3 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation.

4Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage, FSB.

The Treasury FHA-HAMP Program provides assistance to eligible 

homeowners with FHA-insured mortgages.

All Treasury FHA-HAMP Trial Modifications Started 4,952

Treasury FHA-HAMP Permanent Modifications Started 3,314

Treasury FHA-HAMP Modification Activity

The Principal Reduction Alternative (PRA) requires servicers of non-GSE loans 

to evaluate the benefit of principal reduction for mortgages with a loan-tovalue ratio of 115% or greater when evaluating a homeowner for a HAMP first 

lien modification. While servicers are required to evaluate homeowners for 

PRA, they are not required to reduce principal as part of the modification. PRA 

may be a feature of a HAMP trial or permanent modification. 

PRA Trial Modifications Started (cumulative) 21,299

PRA Trial Modifications Active 16,017

PRA Permanent Modifications Started 4,938

PRA Permanent Modifications Active 4,911

Median Principal Amount Reduced for Active Permanent 

Modifications $69,532

Median Principal Amount Reduced for Active Permanent 

Modifications (%)1 32.2%

Principal Reduction Alternative (PRA) Activity

1 Derived as the ratio of PRA amount to before-modification UPB, excluding capitalization. 
Making Home Affordable: Summary Results

Program Performance Report Through May 2011

• The primary hardship reasons for homeowners in active permanent 

modifications are:

• 61.0% experienced loss of income (curtailment of income or 

unemployment)

• 11.3% reported excessive obligation

• 2.8% reported an illness of the principal borrower

Homeowner Benefits and First Lien Modification Characteristics

Loan Characteristic

Before 

Modification

After 

Modification

Median 

Decrease

Front-End Debt-to-Income Ratio1 45.2% 31.0% -14.2 pct pts

Back-End Debt-to-Income Ratio2 79.0% 62.3% -14.7 pct pts

Median Monthly Housing 

Payment3 $1,429.47 $833.10 -$525.58

1 Ratio of housing expenses (principal, interest, taxes, insurance and homeowners association and/or condo 

fees) to monthly gross income. 

2 Ratio of total monthly debt payments (including mortgage principal and interest, taxes, insurance, homeowners 

association and/or condo fees, plus payments on installment debts, junior liens, alimony, car lease payments and 

investment property payments) to monthly gross income. Borrowers who have a back-end debt-to-income ratio of 

greater than 55% are required to seek housing counseling under program guidelines.

3 Principal and interest payment. 

Select Median Characteristics of Active Permanent Modifications

• Of trial modifications started, 79% of homeowners were at least 60 

days delinquent at trial start. The rest were up to 59 days delinquent 

or current and in imminent default. 

5

• Aggregate savings to homeowners who received HAMP first lien 

permanent modifications are estimated to total more than $6.8 

billion, program to date, compared with unmodified mortgage 

obligations.

• The median monthly savings for borrowers in active permanent 

first lien modifications is $525.58, or 37% of the median monthly 

payment before modification. 

• Active permanent modifications feature the following modification steps:

• 100% feature interest rate reductions

• 59.6% offer term extension

• 30.6% include principal forbearance

Waterfall of Estimated Eligible Homeowners

For the First Lien Modification Program

4.1

3.4

2.9

2.6

2.6

1.9

1.7

1.05

1.05

4.6

0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

5

Loans (Millions)

Not all 60+ day delinquent loans are eligible for HAMP. Other characteristics may preclude 

homeowner eligibility. Based on the estimates, of the 4.6 million homeowners who are 

currently 60+ days delinquent, 1.05 million homeowners are eligible for HAMP. As this 

represents a point-in-time snapshot of the delinquency population and estimated HAMP 

eligibility, we expect that more homeowners will become seriously delinquent between 

now and the end of 2012, and some of those homeowners will be eligible for HAMP.

1st Lien, Less: Non- Less: Less: Non- Less: Jumbo HAMP- Less: DTI Less: Less: Estimated

60+ Days Participating FHA or Owner- Non- Eligible Less Than Negative Vacant HAMPDelinquent HAMP VA Occupied at Conforming Loans 31% NPV Properties Eligible

Servicer Origination Loans and And Other Borrowers

Loans Exclusions**

Originated

After 1/1/2009

** Other exclusions include: no longer owner-occupied; unemployed borrowers; investor’s pooling and 

servicing agreement precludes modification; manufactured housing loans with titling/chattel issues that 

exclude them from HAMP; and trial and permanent modifications disqualified from HAMP.

Note: Chart refers only to borrowers eligible for the first lien modification program.

Sources: Fannie Mae; monthly survey of participating servicers for April 30, 2011. Total 60+ day 

delinquency figure derived from 1st Quarter 2011 MBA National Delinquency Survey. Excluded loans are as 

reported by large servicers by survey who have signed a servicer participation agreement for HAMP.

HAMP-Eligible 

60+ Day 

Delinquent 

Loans (GSE and 

SPA Servicers) HAMP 

Estimated 

Eligible 60+ 

Day 

Delinquent 

Borrowers
Making Home Affordable: Summary Results

Program Performance Report Through May 2011

6

Note: Includes active trial and permanent 

modifications from the official HAMP system of 

record.

Source: 1st Quarter 2011 

National Delinquency 

Survey, Mortgage 

Bankers Association.

State

Active 

Trials

Permanent 

Modifications

State 

Total1

% of 

U.S. 

HAMP 

Activity State

Active 

Trials

Permanent 

Modifications

State 

Total1

% of 

U.S. 

HAMP 

Activity

AK 50 273 323 0.0% MT 164 699 863 0.1%

AL 816 3,640 4,456 0.6% NC 2,229 11,564 13,793 1.8%

AR 291 1,362 1,653 0.2% ND 21 106 127 0.0%

AZ 4,521 29,439 33,960 4.5% NE 204 860 1,064 0.1%

CA 30,200 152,500 182,700 24.0% NH 560 2,932 3,492 0.5%

CO 1,520 8,801 10,321 1.4% NJ 4,070 20,387 24,457 3.2%

CT 1,554 7,976 9,530 1.3% NM 472 2,018 2,490 0.3%

DC 193 1,082 1,275 0.2% NV 3,073 16,263 19,336 2.5%

DE 392 1,969 2,361 0.3% NY 6,436 28,725 35,161 4.6%

FL 16,500 75,032 91,532 12.0% OH 2,905 14,131 17,036 2.2%

GA 4,828 22,956 27,784 3.7% OK 333 1,451 1,784 0.2%

HI 485 2,434 2,919 0.4% OR 1,352 6,909 8,261 1.1%

IA 355 1,607 1,962 0.3% PA 2,679 13,165 15,844 2.1%

ID 494 2,411 2,905 0.4% RI 597 3,348 3,945 0.5%

IL 6,583 34,109 40,692 5.4% SC 1,179 5,991 7,170 0.9%

IN 1,273 6,164 7,437 1.0% SD 37 252 289 0.0%

KS 318 1,514 1,832 0.2% TN 1,427 6,453 7,880 1.0%

KY 493 2,392 2,885 0.4% TX 3,739 16,413 20,152 2.7%

LA 873 3,385 4,258 0.6% UT 1,112 5,974 7,086 0.9%

MA 2,846 15,920 18,766 2.5% VA 2,729 15,478 18,207 2.4%

MD 3,829 20,371 24,200 3.2% VT 112 526 638 0.1%

ME 386 1,738 2,124 0.3% WA 2,695 12,465 15,160 2.0%

MI 3,882 20,869 24,751 3.3% WI 1,287 6,208 7,495 1.0%

MN 1,802 11,201 13,003 1.7% WV 157 958 1,115 0.1%

MO 1,404 6,597 8,001 1.1% WY 55 328 383 0.1%

MS 473 2,433 2,906 0.4% Other2 766 1,680 2,446 0.3%

1 Total reflects active trials and active permanent modifications.

2 Includes Guam, Puerto Rico and the U.S. Virgin Islands.

60+ Day Delinquency Rate

5.0% and lower 10.01% - 15.0% 20.01%

5.01% - 10.0% 15.01% - 20.0% and higher

HAMP Modifications

5,000 and lower 20,001 – 35,000

5,001 – 10,000 35,001 and higher

10,001 – 20,000 

HAMP Activity by State Modification Activity by State

Mortgage Delinquency Rates by State
Making Home Affordable: Summary Results

Program Performance Report Through May 2011

Homeowner Outreach Events Hosted Nationally by 

Treasury and Partners (cumulative) 53

Homeowners Attending Treasury-Sponsored Events 

(cumulative) 52,817

Servicer Solicitation of Borrowers (cumulative)1 7,389,461

Page views on MakingHomeAffordable.gov

(May 2011) 1,840,200

Page views on MakingHomeAffordable.gov (cumulative) 119,448,002

1 Source: Survey data provided by SPA servicers. Servicers are encouraged by HAMP to solicit information from 

borrowers 60+ days delinquent, regardless of eligibility for a HAMP modification. 

Program to 

Date May

Total Number of Calls Taken at 

1-888-995-HOPE 2,267,618 62,980

Borrowers Receiving Free Housing 

Counseling Assistance Through the 

Homeowner’s HOPETM Hotline

1,083,924 30,239

Selected Homeowner Outreach Measures

Call Center Volume

Source: Homeowner’s HOPETM Hotline.

A complete list of HAMP activity for all metropolitan areas is available at

http://www.treasury.gov/initiatives/financial-stability/results/MHA-Reports/

7

Metropolitan Statistical Area

Active

Trials

Permanent

Modifications

Total MSA 

HAMP 

Activity

% of U.S. 

HAMP 

Activity

Los Angeles-Long Beach-Santa Ana, 

CA 9,058 44,747 53,805 7.1%

New York-Northern New Jersey-Long 

Island, NY-NJ-PA 8,186 38,965 47,151 6.2%

Chicago-Joliet-Naperville, IL-IN-WI 6,363 32,985 39,348 5.2%

Riverside-San Bernardino-Ontario, 

CA 5,967 33,371 39,338 5.2%

Miami-Fort Lauderdale-Pompano 

Beach, FL 6,975 30,197 37,172 4.9%

Phoenix-Mesa-Glendale, AZ 3,509 24,153 27,662 3.6%

Washington-Arlington-Alexandria, 

DC-VA-MD-WV 3,678 21,845 25,523 3.4%

Atlanta-Sandy Springs-Marietta, GA 3,853 18,536 22,389 2.9%

Las Vegas-Paradise, NV 2,589 13,338 15,927 2.1%

Detroit-Warren-Livonia, MI 2,366 12,630 14,996 2.0%

San Francisco-Oakland-Fremont, CA 2,692 12,021 14,713 1.9%

Orlando-Kissimmee-Sanford, FL 

MSA 2,417 11,857 14,274 1.9%

Boston-Cambridge-Quincy, MA-NH 2,021 11,410 13,431 1.8%

San Diego-Carlsbad-San Marcos, CA 2,129 10,916 13,045 1.7%

Sacramento-Arden-Arcade-Roseville, 

CA 2,203 10,765 12,968 1.7%

15 Metropolitan Areas With Highest HAMP Activity

Note: Total reflects active trials and active permanent modifications.
Making Home Affordable: Summary Results

Program Performance Report Through May 2011

Aged Trials1

190,412

165,543

117,574

94,269

76,502

69,418

49,229

39,753 36,184 32,017 26,362 25,390 23,552

0

50,000

100,000

150,000

200,000

May 2010 June July Aug Sept Oct Nov Dec Jan 2011 Feb March April May 

Trials Lasting 6 Months or Longer At End of Month

1 Active trials initiated at least six months ago. See page 9 for number of aged trials by servicer. These figures include trial modifications that have been 

converted to permanent modifications by the servicer and are pending reporting to the HAMP system of record plus some portion which may be 

canceled. 

The number of active trials lasting 6 months or longer has fallen below 23,600.

Program guidance directs servicers to cancel or convert trial modifications after 

three or four monthly payments, depending on circumstances.

8
Making Home Affordable: Servicer Results

Program Performance Report Through May 2011

As of 

April 30, 2011 Cumulative As of May 31, 2011

Servicer 

Estimated 

Eligible 60+ 

Day Delinquent

Borrowers1 

Trial Plan 

Offers 

Extended2

All HAMP 

Trials 

Started3

All HAMP 

Permanent 

Modifications

Started3

Trial 

Modifications 

Reported Since 

April 2011

Report3

Active Trial 

Modifications3

Active Trial 

Modifications 

Lasting 6

Months or 

Longer4

Active 

Permanent 

Modifications3

American Home Mortgage 

Servicing Inc. 40,563 36,390 32,854 25,728 648 2,677 591 22,373

Bank of America, NA5 269,399 500,154 394,634 138,300 8,326 41,069 8,926 119,142

CitiMortgage, Inc. 69,605 178,215 130,947 51,831 509 5,705 1,718 45,976

GMAC Mortgage, LLC 29,268 73,261 61,226 43,843 657 3,453 57 37,928

J.P. Morgan Chase Bank, NA6 162,719 312,113 251,419 100,951 3,733 23,052 2,652 83,774

Litton Loan Servicing LP 35,385 42,106 37,271 11,543 425 2,475 210 9,410

Ocwen Loan Servicing, LLC 40,406 47,873 44,879 34,032 734 4,268 1,197 27,112

OneWest Bank 31,630 69,843 52,406 28,042 905 3,555 258 25,062

Select Portfolio Servicing 5,318 67,730 41,729 22,205 249 1,007 90 18,857

Wells Fargo Bank, NA7 130,035 316,603 230,733 99,046 4,031 13,565 1,654 88,269

Other SPA Servicers8 99,293 205,339 209,366 101,326 3,697 11,668 1,899 89,184

Other GSE Servicers9 136,782 NA 127,259 74,604 2,775 14,257 4,300 66,372

Total 1,050,403 1,849,627 1,614,723 731,451 26,689 126,751 23,552 633,459

1 Estimated eligible 60+ day delinquent borrowers as reported by 

servicers as of April 30, 2011, include those in conventional loans: 

 in foreclosure and bankruptcy.

 with a current unpaid principal balance less than $729,750 on a 

one-unit property, $934,200 on a two-unit property, $1,129,250 on 

a three-unit property and $1,403,400 on a four-unit property.

 on a property that was owner-occupied at origination.

 originated on or before January 1, 2009.

Estimated eligible 60+ day delinquent borrowers excludes: 

 Those in FHA and VA loans.

 Those in loans that are current or less than 60 days delinquent, 

which may be eligible for HAMP if a borrower is in imminent 

default.

 Those borrowers with debt-to-income ratios less than 31% or a 

negative NPV test.

 Owners of vacant properties or properties otherwise excluded.

 HAMP Trials and Permanent Modifications disqualified from 

HAMP.

 Unemployed borrowers.

Exclusions for DTI and NPV are estimated using market analytics. 2 As reported in the weekly servicer survey of large SPA servicers 

through June 2, 2011. 3 As reported into the HAMP system of record by servicers. Excludes 

FHA-HAMP modifications. Subject to adjustment based on servicer 

reconciliation of historic loan files. Totals reflect impact of servicing 

transfers. Servicers may enter new trial modifications into the HAMP 

system of record at any time. 4 These figures include trial modifications that have been converted to 

permanent modifications by the servicer and are pending reporting 

to the HAMP system of record.

5 Bank of America, NA includes Bank of America, NA, BAC Home 

Loans Servicing LP, Home Loan Services and Wilshire Credit 

Corporation. 6 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation. 7 Wells Fargo Bank, NA includes all loans previously reported under 

Wachovia Mortgage, FSB. 8 Other SPA servicers are entities excluding the 10 largest servicers, by 

cap amount, that have signed participation agreements with 

Treasury and Fannie Mae. A full list of participating servicers is in 

Appendix A. 9 Includes servicers of loans owned or guaranteed by Fannie Mae and 

Freddie Mac. Includes GSE loans transferred from SPA servicers.

HAMP Modification Activity by Servicer

9
Making Home Affordable: Servicer Results

Program Performance Report Through May 2011

Length of Trial Upon Conversion1

1 For all permanent modifications started.

Note: Per program guidelines, effective June 1, 2010 all trials must be started using verified income. Prior to June 1, some servicers initiated trials using stated income information. 

3.0

3.3 3.5 3.3

4.7

3.0 3.0

3.7

3.2

3.5 3.3

3.2

0

1

2

3

4

5

6

7

8

9

Am. Home Servicing Bank of America CitiMortgage GMAC JP Morgan Chase Litton Ocwen OneWest SPS Wells Fargo Other GSE servicers Other SPA Servicers

Months

Trials Started Before 6/1/10 Trials Started On/After 6/1/10 Before 6/1/10 Average (5.2) On/After 6/1/10 Average (3.5)

The average months to convert an eligible trial modification into a permanent 

HAMP modification has decreased from 5.2 months for trials started prior to 

June 1, 2010, to 3.5 months for trials started June 1, 2010 or later.

10
Making Home Affordable: Servicer Results

Program Performance Report Through May 2011

84%

55%

71%

83%

63%

76%

78%

74%

87%

83%

76%

78%

0%

20%

40%

60%

80%

100%

Am. Home 

Servicing

Bank of America CitiMortgage GMAC JPMorgan Chase Litton Ocwen OneWest SPS Wells Fargo Other GSE

Servicers

Other SPA 

Servicers

Conversion Rate

Average of Trials Started Before 6/1/10 (42%) Average of Trials Started On/After 6/1/10 (71%)

Of Trials Started Before 6/1/10:

42% Converted to Permanent Modification

1% Pending Processing or Decision

Of Eligible Trials Started On/After 6/1/10:

71% Converted to Permanent Modification

20% Pending Processing or Decision

Conversion Rate1

Note: Per program guidelines, effective June 1, 2010 all trials must be started using verified income. Prior to June 1, some servicers initiated trials using stated income information. 

1 As measured against trials eligible to convert – those three months in trial, or four months if the borrower was at risk of imminent default at trial modification start. Permanent 

modifications transferred among servicers are credited to the originating servicer. Trial modifications transferred are reflected in the current servicer’s population.

Following the implementation of verified income 

documentation in June 2010, rates of converting trial 

modifications into permanent modifications have 

substantially risen.

11
Making Home Affordable: Servicer Results

Program Performance Report Through May 2011

Disposition Path 

Homeowners in Canceled HAMP Trial Modifications

Survey Data Through April 2011 (10 Largest Servicers)

Homeowners Whose HAMP Trial Modification Was Canceled Who Are in the Process of:

Servicer

Action 

Pending1

Action Not 

Allowed –

Bankruptcy 

in Process

Borrower

Current

Alternative 

Modification

Payment 

Plan2 Loan Payoff

Short Sale/

Deed-inLieuForeclosure 

Starts

Foreclosure

Completions

Total

(As of April 

2011)

American Home 

Mortgage Servicing Inc. 404 68 178 2,387 34 96 252 562 90 4,071

Bank of America, NA3 41,677 7,197 29,759 69,523 1,960 3,520 14,021 32,692 8,992 209,341

CitiMortgage Inc. 17,144 3,719 5,657 29,459 1,009 1,480 1,767 9,634 2,091 71,960

GMAC Mortgage, LLC 1,542 417 1,092 5,945 172 378 902 1,671 1,418 13,537

JP Morgan Chase Bank 

NA4 8,049 799 4,186 57,264 512 4,935 6,375 23,172 10,980 116,272

Litton Loan Servicing LP 1,694 577 1,910 13,398 260 159 1,265 1,458 857 21,578

Ocwen Loan Servicing, 

LLC 419 113 394 2,582 401 34 315 1,774 554 6,586

OneWest Bank 509 849 623 10,515 348 33 1,021 3,560 3,341 20,799

Select Portfolio 

Servicing 1,386 511 1,472 5,682 403 1,037 609 1,920 2,701 15,721

Wells Fargo Bank NA5 1,639 790 13,245 57,416 1,380 11,584 3,771 16,875 11,172 117,872

TOTAL 

(These 10 Largest

Servicers)

74,463

12.5%

15,040

2.5%

58,516

9.8%

254,171

42.5%

6,479

1.1%

23,256

3.9%

30,298

5.1%

93,318

15.6%

42,196

7.1%

597,737

100.0%

Note: Data is as reported by servicers for actions completed through April 30, 2011. Survey data is not subject to the same data quality checks as data uploaded into the HAMP system of record. 1 Trial loans that have been canceled, but no further action has yet been taken. 2 An arrangement with the borrower and servicer that does not involve a formal loan modification. 

3 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. 4 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation.

5 Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage, FSB.

Note: Excludes cancellations pending data corrections and loans otherwise removed from servicing portfolios. 

The most common causes of 

trial cancellations from all 

servicers are:

• Insufficient documentation

• Trial plan payment default 

• Ineligible borrower: 

first lien housing expense is 

already below 31% of 

household income

12
Making Home Affordable: Servicer Results

Program Performance Report Through May 2011

Disposition Path 

Homeowners Not Accepted for HAMP Trial Modifications

Survey Data Through April 2011 (10 Largest Servicers)

Homeowners Not Accepted for a HAMP Trial Modification Who Are in the Process of:

Servicer

Action 

Pending1

Action Not 

Allowed –

Bankruptcy 

in Process

Borrower

Current

Alternative 

Modification

Payment 

Plan2 Loan Payoff

Short Sale/

Deed-inLieuForeclosure 

Starts

Foreclosure

Completions

Total

(As of April 

2011)

American Home 

Mortgage Servicing Inc. 1,727 939 7,522 29,059 787 641 1,599 6,100 1,039 49,413

Bank of America, NA3 53,563 10,228 102,453 55,854 4,888 4,570 25,906 64,799 23,496 345,757

CitiMortgage Inc. 22,408 8,079 22,541 26,572 5,302 13,971 1,809 7,364 6,165 114,211

GMAC Mortgage, LLC 24,117 6,900 37,531 42,407 3,545 3,451 8,112 20,226 13,507 159,796

JP Morgan Chase Bank 

NA4 81,936 4,838 87,336 124,452 1,676 42,741 20,519 56,416 16,446 436,360

Litton Loan Servicing LP 6,053 3,177 10,109 20,173 963 687 4,389 5,858 3,873 55,282

Ocwen Loan Servicing, 

LLC 8,237 2,030 19,098 33,000 7,474 1,592 5,375 16,844 6,337 99,987

OneWest Bank 5,145 3,315 24,093 13,872 2,241 1,081 3,435 12,793 7,904 73,879

Select Portfolio 

Servicing 2,266 345 2,689 3,630 371 479 468 1,625 1,198 13,071

Wells Fargo Bank NA5 14,904 3,806 50,024 42,968 2,492 13,765 12,342 21,586 13,890 175,777

TOTAL 

(These 10 Largest 

Servicers)

220,356

14.5%

43,657

2.9%

363,396

23.9%

391,987

25.7%

29,739

2.0%

82,978

5.4%

83,954

5.5%

213,611

14.0%

93,855

6.2%

1,523,533

100.0%

Note: Data is as reported by servicers for actions completed through April 30, 2011. Survey data is not subject to the same data quality checks as data uploaded into the HAMP system of record. 1 Homeowners who were not approved for a HAMP trial modification, but no further action has yet been taken. 2 An arrangement with the borrower and servicer that does not involve a formal loan modification. 

3 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. 4 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation.

5 Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage, FSB.

Note: Excludes loans removed from servicing portfolios. 

The most common causes of 

trials not accepted from all 

servicers are:

• Insufficient documentation

• Ineligible borrower: 

first lien housing expense is 

already below 31% of 

household income

• Ineligible mortgage

13
Making Home Affordable: Servicer Results

Program Performance Report Through May 2011

Program to date, there have been 1,116,574 calls to the Homeowner’s 

HOPETM Hotline regarding a specific SPA servicer, of which 6.6% included 

complaints. Below shows specific complaint rates.

Source: Homeowner’s HOPETM Hotline.

Note: Complaint rate is the share of a specific servicer’s call volume that are complaints (e.g., for all calls about OneWest, 10.2% 

included complaints.)

Homeowner Experience (10 Largest Servicers)

Average Speed to Answer Homeowner Calls (April)

0

5

10

15

20

25

30

35

40

Am. Home 

Servicing

Bank of 

America

CitiMortgage GMAC JP Morgan 

Chase

Litton Ocwen OneWest SPS Wells Fargo

Seconds

Average Speed to Answer 

Calls to Homeowner’s 

HOPETM Hotline for April: 

1.3 Seconds

Call Abandon Rate (April)

0%

1%

2%

3%

Am. Home 

Servicing

Bank of 

America

CitiMortgage GMAC JP Morgan 

Chase

Litton Ocwen OneWest SPS Wells Fargo

Homeowner’s HOPETM Hotline Average 

Call Abandon Rate for April: 0.7%

Source: Survey data through April 30, 2011, from servicers on call volume to loss mitigation lines; Homeowner’s 

HOPETM Hotline.

Source: Survey data through April 30, 2011, from servicers on call volume to loss mitigation lines; Homeowner’s 

HOPETM Hotline.

Servicer Time to Resolve Third-Party Escalations 

(Program to Date, Through May)

0

10

20

30

40

50

60

Am. Home 

Servicing

Bank of 

America

CitiMortgage GMAC JP Morgan 

Chase

Litton Ocwen OneWest SPS Wells Fargo

Resolved: 463 6,279 1,245 844 3,531 588 633 891 199 3,045

Cases (PTD) Calendar Days

Target: 30 Calendar Days

Source: HAMP Solutions Center. Target of 30 calendar days, effective Feb. 1, 2011, includes 

an estimated 5 days of processing by HAMP Solutions Center.

Servicer Complaint Rate to Homeowner’s HOPETM Hotline

(Program to Date, Through May)

Calls to 

Servicer: 

3%

4%

5%

6%

7%

8%

9%

10%

11%

Am. Home 

Servicing

Bank of 

America

CitiMortgage GMAC JP Morgan 

Chase

Litton Ocwen OneWest SPS Wells Fargo

% of Calls for Specific 

Servicer

Complaints

(PTD): 2,036 25,127 6,127 2,916 14,775 1,542 2,083 235 584 9,620

Program to Date Average: 6.6% 

14
Making Home Affordable: Servicer Results

Program Performance Report Through May 2011

Servicer GSE Private Portfolio

Total Active 

Modifications

American Home Mortgage Servicing Inc. 1,295 23,753 2 25,050

Bank of America, NA1 94,330 56,563 9,318 160,211

CitiMortgage, Inc. 30,300 4,578 16,803 51,681

GMAC Mortgage, LLC 24,132 5,763 11,486 41,381

JP Morgan Chase NA2 48,987 39,080 18,759 106,826

Litton Loan Servicing LP 87 11,787 11 11,885

Ocwen Loan Servicing, LLC 7,207 24,045 128 31,380

OneWest Bank 13,527 12,866 2,224 28,617

Select Portfolio Servicing 513 16,807 2,544 19,864

Wells Fargo Bank, NA 3 49,568 14,313 37,953 101,834

Other HAMP Servicers 133,094 33,773 14,614 181,481

Total 403,040 243,328 113,842 760,210

1 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and 

Wilshire Credit Corporation. 2 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation.

3 Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage, FSB.

Note: Figures reflect active trials and active permanent modifications.

Modifications by Investor Type (Large Servicers)

15
Making Home Affordable

Program Performance Report Through May 2011

Servicers participating in the HAMP First Lien Modification Program may also offer additional support for homeowners, including Home Affordable Foreclosure 

Alternatives (HAFA), a forbearance for unemployed borrowers through the Unemployment Program (UP), and Principal Reduction Alternative (PRA). 

Effective October 3, 2010, the ability to make new financial commitments under the Troubled Asset Relief Program (TARP) terminated, and consequently no 

new Servicer Participation Agreements may be executed. In addition, effective June 25, 2010, no new housing programs may be created under TARP. 

Allstate Mortgage Loans & Investments, 

Inc.

American Eagle Federal Credit Union

American Home Mortgage Servicing, Inc

AMS Servicing, LLC

Aurora Loan Services, LLC

Bank of America, N.A.1

Bank United

Bay Federal Credit Union

Bayview Loan Servicing, LLC

Bramble Savings Bank

Carrington Mortgage Services, LLC

CCO Mortgage

Central Florida Educators Federal Credit 

Union

CitiMortgage, Inc.

Citizens 1st National Bank

Community Bank & Trust Company

Community Credit Union of Florida

CUC Mortgage Corporation

DuPage Credit Union

Fay Servicing, LLC

Fidelity Homestead Savings Bank

First Bank

First Financial Bank, N.A.

First Keystone Bank

Franklin Credit Management 

Corporation

Franklin Savings

Fresno County Federal Credit Union

Glass City Federal Credit Union

GMAC Mortgage, LLC

Grafton Suburban Credit Union

Great Lakes Credit Union

Greater Nevada Mortgage Services

Green Tree Servicing LLC

Hartford Savings Bank

Hillsdale County National Bank

HomEq Servicing

HomeStar Bank & Financial Services

Horicon Bank

Horizon Bank, NA

Iberiabank

IBM Southeast Employees' Federal 

Credit Union

IC Federal Credit Union

Idaho Housing and Finance Association

iServe Residential Lending LLC

iServe Servicing Inc.

J.P.Morgan Chase Bank, NA2

Lake City Bank

Lake National Bank

Liberty Bank and Trust Co. 

Litton Loan Servicing

Los Alamos National Bank

Magna Bank

Marix Servicing, LLC

Midland Mortgage Company

Midwest Bank & Trust Co. 

Midwest Community Bank

Mission Federal Credit Union

Mortgage Center, LLC

Nationstar Mortgage LLC

Navy Federal Credit Union

Oakland Municipal Credit Union

Ocwen Loan Servicing, LLC

OneWest Bank

ORNL Federal Credit Union

Park View Federal Savings Bank

Pathfinder Bank

PennyMac Loan Services, LLC

PNC Bank, National Association

PNC Mortgage3

Purdue Employees Federal Credit Union

QLending, Inc.

Quantum Servicing Corporation

Residential Credit Solutions

RG Mortgage Corporation

RoundPoint Mortgage Servicing 

Corporation

Saxon Mortgage Services, Inc.

Schools Financial Credit Union

SEFCU

Select Portfolio Servicing

Servis One Inc., dba BSI Financial 

Services, Inc.

ShoreBank

Silver State Schools Credit Union

Specialized Loan Servicing, LLC

Sterling Savings Bank

Suburban Mortgage Company of New 

Mexico

Technology Credit Union

The Golden 1 Credit Union

U.S. Bank National Association

United Bank

United Bank Mortgage Corporation

Vantium Capital, Inc.

Vist Financial Corp.

Wealthbridge Mortgage Corp. 

Wells Fargo Bank, NA4

Wescom Central Credit Union

Yadkin Valley Bank

1 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing 

LP, Home Loan Services and Wilshire Credit Corporation.

2 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation. 

3 Formerly National City Bank.

4 Wells Fargo Bank, NA includes all loans previously reported under Wachovia 

Mortgage, FSB. 

Appendix A1: Non-GSE Participants in HAMP

16
Making Home Affordable

Program Performance Report Through May 2011

Second Lien Modification Program (2MP)

Bank of America, NA1

Bayview Loan Servicing, LLC 

CitiMortgage, Inc.

Community Credit Union of Florida

GMAC Mortgage, LLC 

Green Tree Servicing LLC 

iServe Residential Lending, LLC 

iServe Servicing, Inc. 

J.P.Morgan Chase Bank, NA2

Nationstar Mortgage LLC

OneWest Bank

PennyMac Loan Services, LLC

PNC Bank, National Association

PNC Mortgage 3

Residential Credit Solutions 

Servis One Inc., dba BSI Financial Services, Inc. 

Wells Fargo Bank, NA 4

FHA First Lien Program (Treasury FHA-HAMP)

Amarillo National Bank

American Financial Resources Inc. 

Aurora Financial Group, Inc. 

Aurora Loan Services, LLC 

Banco Popular de Puerto Rico 

Bank of America, NA1

Capital International Financial, Inc. 

CitiMortgage, Inc. 

CU Mortgage Services, Inc. 

First Federal Bank of Florida 

First Mortgage Corporation 

Franklin Savings 

Gateway Mortgage Group, LLC 

GMAC Mortgage, LLC. 

Green Tree Servicing LLC 

Guaranty Bank 

iServe Residential Lending, LLC 

iServe Servicing, Inc. 

James B. Nutter & Company 

J.P.Morgan Chase Bank,NA2

M&T Bank 

Marix Servicing, LLC 

Marsh Associates, Inc. 

Midland Mortgage Company 

Nationstar Mortgage LLC 

Ocwen Loan Servicing, LLC 

PennyMac Loan Services, LLC 

PNC Mortgage 3

RBC Bank (USA) 

Residential Credit Solutions 

Saxon Mortgage Services, Inc. 

Schmidt Mortgage Company 

Select Portfolio Servicing 

Servis One Inc., dba BSI Financial Services, Inc. 

Stockman Bank of Montana 

Wells Fargo Bank, NA 4

Weststar Mortgage, Inc. 

FHA Second Lien Program (FHA 2LP)

Bank of America, NA1

Bayview Loan Servicing, LLC 

CitiMortgage, Inc. 

Flagstar Capital Markets Corporation 

GMAC Mortgage, LLC. 

Green Tree Servicing LLC

J.P.Morgan Chase Bank, NA2

Nationstar Mortgage LLC 

PNC Bank, National Association 

PNC Mortgage 3

Residential Credit Solutions 

Saxon Mortgage Services, Inc. 

Select Portfolio Servicing 

Wells Fargo Bank, NA 4

Rural Housing Service Modification Program 

(RD-HAMP)

Banco Popular de Puerto Rico

Bank of America, N.A. 1

Horicon Bank 

J.P.Morgan Chase Bank, NA 2

Magna Bank 

Marix Servicing, LLC 

Midland Mortgage Company 

Nationstar Mortgage LLC 

Wells Fargo Bank, NA 4

1 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home 

Loan Services and Wilshire Credit Corporation.

2 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation. 

3 Formerly National City Bank.

4 Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage FSB. 

Appendix A2: Participants in Additional Making Home Affordable Programs

17