Making Home Affordable

Program Performance Report Through September 2012

APPENDICES:

Participants in MHA Programs

SERVICER RESULTS:

First Lien Modification Activity 

First Lien, PRA, 2MP, and HAFA Activity

Outreach to 60+ Day Delinquent 

Homeowners

Average Delinquency at Trial Start

Conversion Rate

Time to Resolve Escalations

Disposition of Homeowners Not in 

HAMP

 19-20

Inside:

SUMMARY RESULTS:

Making Home Affordable Program Activity

First Lien Modification Activity

Activity for PRA, 2MP, Treasury FHA-HAMP 

and UP

Home Affordable Foreclosures Alternative 

(HAFA)

Performance of Permanent Modifications 

First Lien Modification 

Characteristics/Modifications by Investor 

Type

HAMP Activity by State

HAMP Activity by MSA/Homeowner Outreach

 

2

3

4

5

6-7

8

9

10

 

11

12

13

14

15

16

17-18

Report Highlights

Approximately 1.3 Million Homeowner Assistance Actions Taken 

through Making Home Affordable

• Nearly 1.1 million homeowners have received a permanent modification through the Home 

Affordable Modification Program (HAMP). These homeowners have reduced their first lien 

mortgage payments by a median of approximately $541 each month – more than one-third 

of their median before-modification payment – saving a total estimated $15.6 billion to date 

in monthly mortgage payments. 

• Nearly 97,000 second lien modifications have been started through the Second Lien 

Modification Program (2MP), and over 75,000 homeowners have exited their homes 

through a short sale or deed-in-lieu of foreclosure with assistance from the Home 

Affordable Foreclosure Alternatives Program (HAFA).

• 86% of eligible homeowners entering a HAMP trial modification since June 1, 2010 have 

received a permanent modification with an average trial period of 3.5 months.

• Homeowners currently in HAMP permanent modifications with some form of principal 

reduction have been granted an estimated $7.6 billion in principal reduction. 75% of 

eligible non-GSE borrowers entering HAMP in September received some form of principal 

reduction with their modification.

Permanent Modifications Continue to Perform Well Over Time

• After six months in the program, more than 94% of homeowners remain in permanent 

modifications and 9.4% of homeowners are 60+ days delinquent.

• Payment reduction is strongly correlated with permanent modification sustainability. For 

modifications seasoned 24 months, only 17.1% of modifications with a monthly payment 

reduction greater than 50% have been disqualified from the program due to missing three 

payments, compared to a disqualification rate of 43.8% where the payment had been cut by 

20% or less.

• HAMP modifications continue to exhibit lower delinquency and re-default rates than 

industry modifications as reported by the Office of the Comptroller of the Currency.

Note: This report reflects program activity for the Making Home Affordable Program. Unless specified, this report does not yet 

include activity relating to HAMP Tier 2, in order to allow adequate time to fully implement Tier 2 reporting into the HAMP 

system of record. Tier 2 activity will be reported in the coming months. For information and quarterly updates about the 

Hardest Hit Fund, please visit the website for the Hardest Hit Fund or the TARP Monthly Report to Congress.
Making Home Affordable

Program Performance Report Through September 2012

Program Purpose

• Home Affordable Modification 

Program (HAMP)

Provides eligible borrowers the opportunity to lower 

their first lien mortgage payment to affordable and 

sustainable levels through a uniform loan 

modification process.

• Principal Reduction 

Alternative (PRA)

Provides principal forgiveness on eligible 

underwater loans that are modified under HAMP. 

• Second Lien Modification 

Program (2MP)

Provides modifications and extinguishments on 

second liens when there has been a first lien HAMP 

modification on the same property.

• Home Affordable Foreclosure 

Alternatives (HAFA)

Provides transition alternatives to foreclosure in the 

form of a short sale or deed-in-lieu of foreclosure.

• FHA-HAMP and RD-HAMP 

modification programs

Provides first lien modifications for distressed 

borrowers in loans guaranteed through the Federal 

Housing Administration and Rural Housing Service.

• Unemployment Program 

(UP)

Provides temporary forbearance of mortgage 

principal to enable unemployed borrowers to look for 

a new job without fear of foreclosure.

The Making Home Affordable Program was launched in March 2009 with the Home 

Affordable Modification Program (HAMP) which provides assistance to struggling 

homeowners by lowering monthly first lien mortgage payments to an affordable level. 

Additional programs were subsequently rolled out to expand the program reach.

Making Home Affordable Program Activity

2

Source: HAMP system of record for HAMP, 2MP, HAFA, FHA-HAMP, and RD-HAMP. UP participation is reported via servicer survey through August 31, 2012. 

1 Cumulative activity includes HAMP permanent modifications started, 2MP modifications started, HAFA transactions completed, FHA-HAMP and RD-HAMP permanent modifications started, and UP forbearance plans started. This does not include trial 

modifications that have cancelled or not yet converted to permanent modification and HAFA agreements started but not yet completed.

In total, the MHA program has completed approximately 1.3 million first and second lien permanent modifications, HAFA transactions, and UP forbearance plans.

Program-to-Date Reported Since 

Prior Period

HAMP Permanent 

Modifications Started 1,090,596 13,849

2MP Modifications 

Started 96,922 3,057

HAFA Transactions 

Completed 75,423 4,020

FHA-HAMP and RD-HAMP 

Permanent Modifications 

Started

9,100 408

UP Forbearance Plans 

Started (through August 

2012) 

27,031 834

Cumulative MHA 

Activity1 1,299,072 22,168

0

10

20

30

40

50

60

0

200

400

600

800

1,000

1,200

1,400

Aug 2011

Sep

Oct

Nov

Dec

Jan 2012

Feb

Mar

Apr

May

June

July

Aug

Sep

Monthly MHA Activity (000s)

Cumulative MHA Activity (000s)

Cumulative (Left Axis)

Monthly (Right Axis)
Making Home Affordable: Summary Results

Program Performance Report Through September 2012

HAMP is designed to lower monthly mortgage payments to help struggling 

homeowners stay in their homes and prevent avoidable foreclosure. 

HAMP (First Lien) Modifications

Total

HAMP Eligibility 

(As of August 31, 

2012)

Eligible Delinquent Loans1 2,160,174

Eligible Delinquent Borrowers2 722,726

Trial

Modifications

Trial Plan Offers Extended (Cumulative)3 2,248,907

All Trials Started 1,927,625

Trials Reported Since August 2012 Report4 15,186

Trial Modifications Cancelled Since June 1, 20105 60,742

Active Trials 64,342

Permanent 

Modifications

All Permanent Modifications Started 1,090,596

Permanent Modifications Reported Since 

August 2012 Report 13,849

Permanent Modifications Cancelled (Cumulative)6 255,961

Active Permanent Modifications 834,635

1 Estimated eligible 60+ day delinquent loans as reported by servicers as of August 31, 2012, 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 monthly servicer survey of large SPA servicers through September 30, 2012. Some servicers have 

begun to include trial plans offered under the HAMP Tier 2 eligibility requirements. 4 Servicers may enter new trial modifications into the HAMP system of record at anytime. 5 772,687 cumulative including 711,945 that had trial start dates prior to June 1, 2010 when Treasury implemented a 

verified income requirement. 6 A permanent modification is canceled when the borrower has missed three consecutive monthly payments. Includes 

7,195 loans paid off.

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

3

HAMP (First Lien) Trials Started

1,608

1,636

1,661

1,684

1,706

1,727 1,744

1,762

1,781 1,796

1,813

1,834 1,852

1,870

1,887

1,901 1,917 1,928

0

50

100

1,400

1,500

1,600

1,700

1,800

1,900

2,000

Apr

2011

May June July Aug Sep Oct Nov Dec Jan

2012

Feb Mar Apr May June July Aug Sep

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, 15,186 trials have entered the HAMP system of record since the prior report; 10,868 were trials 

with a first payment recorded in September 2012. 

HAMP Permanent Modifications Started (Cumulative)

699 731 763 791 817

857 883 910 933 951 974 994 1,009 1,026 1,043 1,060

1,077 1,091

400

500

600

700

800

900

1,000

1,100

1,200

Apr

2011

May June July Aug Sep Oct Nov Dec Jan

2012

Feb Mar Apr May June July Aug Sep

All Permanent Modifications Started (000s)

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

Program Performance Report Through September 2012

Servicers of non-GSE loans are required to evaluate the benefit of principal reduction under the HAMP Principal Reduction 

Alternative (PRA) for mortgages with a loan-to-value (LTV) ratio greater than 115% when evaluating a homeowner for a HAMP 

first lien modification. While servicers are required to evaluate homeowners for principal reduction, they are not required to 

reduce principal as part of the modification. The MHA Program allows servicers to provide principal reduction on HAMP 

modifications in two ways: 

• Under HAMP PRA, principal is reduced to lower the LTV, the investor is eligible to receive an incentive on the amount of 

principal reduced, and the reduction vests over a 3-year period.

• Servicers can also offer principal reduction to homeowners on a HAMP modification outside the requirements of HAMP 

PRA. If they do, the investor receives no incentive payment for the principal reduction and the principal reduction can be 

recognized immediately. 

The terms of the $25 billion settlement of mortgage servicing deficiencies between the five largest mortgage servicers, the 

Federal government, and 49 state attorneys general, have recently caused servicers to increase use of non-PRA principal 

reductions. Of all non-GSE loans eligible1 for principal reduction that started a trial in September 2012, 75% included a principal 

reduction feature, including 63% through the HAMP PRA program. 

4

Note: Data is as reported by servicers via survey for UP participation through August 31, 2012. 

HAMP Principal Reduction Activity

The Treasury MHA Unemployment Program (UP) provides a temporary forbearance to homeowners 

who are unemployed. Under Treasury guidelines, unemployed homeowners must be considered for 

a minimum of 12 months’ forbearance. 

All UP Forbearance Plans Started (through August 2012) 27,031

UP Forbearance Plans With Some Payment Required 23,307

UP Forbearance Plans With No Payment Required 3,724

Unemployment Program (UP) Activity

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

All Treasury FHA-HAMP Trial Modifications Started 15,227

All Treasury FHA-HAMP Permanent Modifications Started 9,089

Treasury FHA-HAMP Modification Activity

See Appendix A1 and A2 for additional information on servicer participants in Making Home 

Affordable programs. 

The Second Lien Modification Program (2MP) provides assistance to homeowners in a first lien 

HAMP permanent modification who have an eligible second lien with a participating HAMP servicer. 

This assistance can result in a modification of the second lien and even full or partial extinguishment 

of the second lien. 2MP modifications and partial extinguishments require that the first lien HAMP 

modification be permanent and active and that the second lien have an unpaid balance of $5,000 or 

more and a monthly payment of at least $100.

All Second Lien Modifications Started (Cumulative)1 96,922

Second Lien Modifications Involving Full Lien Extinguishments 23,656

Second Lien Modifications Disqualified2 5,548

Active Second Lien Modifications3 67,718

Second Lien Modification Program (2MP) Activity 

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

September 2012 data, though the effective date may occur in October 2012. Number of modifications is net of 

cancellations, which are primarily due to servicer data corrections.

2 Includes 518 loans paid off. 

3 Includes 4,076 loans in active non-payment status whereby the 1MP has disqualified from HAMP. As a result, 

the servicer is no longer required to report payment activity on the 2MP modification.

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

extension and principal forbearance or forgiveness.

Second Lien Extinguishment Details

Median Amount of Full Extinguishment $62,032 

Median Amount of Partial Extinguishment for Active Second Lien 

Modifications $9,000 

Of the Active Second Lien Modifications:

Second Lien Partially Extinguished 5,275 

Second Lien Loan Modifications4 62,443 

HAMP Modifications 

with Principal 

Reduction Under PRA2

Other HAMP 

Modifications with 

Principal Reduction 

Outside of PRA

Total HAMP 

Modifications with 

Principal Reduction

All Trial Modifications Started 100,724 32,019 132,743

Trials Reported Since August 2012 Report 3,865 1,144 5,009

Active Trial Modifications 14,897 3,864 18,761

All Permanent Modifications Started 77,655 25,165 102,820

Permanent Modifications Reported Since 

August 2012 Report 3,070 1,484 4,554

Active Permanent Modifications 68,805 22,046 90,851

Median Principal Amount Reduced for Active 

Permanent Modifications3 $71,293 $53,876 $65,019 

Median Principal Amount Reduced for Active 

Permanent Modifications (%)4 31.7% 18.0% 27.7%

Total Outstanding Principal Balance Reduced 

on Active Permanent Modifications 3 $6,172,725,381 $1,377,812,504 $7,550,537,884 

1 Eligible loans include those receiving evaluation under HAMP PRA guidelines plus loans that did not require an evaluation but 

received principal reduction on their modification.

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

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

forgiven.

4 Principal reduction amount as a percentage of before-modification UPB, excluding capitalization.
Making Home Affordable: Summary Results

Program Performance Report Through September 2012

7.1 8.5 10.8 12.9 16.0 18.6 20.7 24.4 27.7 31.4 35.8 40.3 44.7 50.7 56.8 60.6

71.4 75.4

0

20

40

60

80

All Transactions Completed (000s)

Home Affordable Foreclosure Alternatives (HAFA)

The Home Affordable Foreclosure Alternatives Program (HAFA) offers incentives and a streamlined process for homeowners looking to exit their homes through a 

short sale or deed-in-lieu of foreclosure. HAFA has established important homeowner protections and an industry standard for streamlined transactions.

HAFA Activity

• In HAFA transactions, homeowners:

• Follow a streamlined process for short sales and deeds-in-lieu transactions 

that requires no verification of income and allows for pre-approved short sale 

terms;

• Receive a waiver of deficiency once the transaction is completed that releases 

the homeowner from remaining mortgage debt;

• Receive at least $3,000 in relocation assistance at closing.3

• In 19% of HAFA transactions completed, the homeowner began a HAMP trial 

modification but later requested a HAFA agreement or was disqualified from HAMP.

All HAFA Agreements Started1 102,317

HAFA Agreements Active 11,667

HAFA Transactions Canceled 15,227

HAFA Transactions Completed 75,423

Completed Transactions – Short Sale 73,536

Completed Transactions – Deed-in-Lieu2 1,887

1 Servicer agreement with homeowner for terms of potential short sale, which lasts at least 120 days; or agreement 

for a deed-in-lieu transaction. A short sale requires a third-party purchaser and cooperation of junior lien holders and 

mortgage insurers to complete the transaction.

2 Servicers typically require that the borrower make a good faith effort to list and market the property before the 

servicer will agree to accept a deed-in-lieu.

Top Three States by HAFA Activity:

HAFA -

% of Transactions 

Completed

HAMP -

% of Active

Modifications

• California 42% 25%

• Florida 16% 12%

• Arizona 7% 4%

See page 12 for detail of HAFA Activity by Servicer.

HAFA Activity by Investor Type

SPA servicers must consider for a short sale or deed-in-lieu of foreclosure through 

the HAFA program any homeowner who: 1) requests HAFA or 2) was denied for 

HAMP. However, individual investors can impose additional eligibility requirements. 

Both Treasury and the GSEs recently announced program changes that result in 

closer alignment of their short sale programs.

Investor Type Agreements Started1 Transactions Completed 

GSE 6,897 5,055

Private 68,358 50,561

Portfolio 27,062 19,807

Total 102,317 75,423

HAFA Activity by State

3 Relocation assistance is limited to transactions where the property is occupied by the homeowner or a tenant at the time the 

agreement is executed. In cases where the property is occupied by a tenant, the assistance is paid to the tenant.

Characteristics

5
Making Home Affordable: Summary Results

Program Performance Report Through September 2012

Performance of Permanent Modifications (As of August 31, 2012)

• For permanent loans aged at least 3 months as of August 31, 2012, as reported by servicers through September 17, 2012. 

• The table stratifies the data by the quarter in which the permanent modification became effective and provides two separate performance metrics: 

• 60+ days delinquent: All loans that have missed two or more consecutive monthly payments, including 90+ days delinquent loans.

• 90+ days delinquent: All loans that have missed three or more consecutive monthly payments.

• Loan payment status is not reported by servicers after program disqualification (90+ days delinquent). Therefore, 90+ days delinquent loans are included in each of the 60+ days delinquent and 90+ days delinquent 

metrics for all future reporting periods, even though some loans may have cured or paid off following program disqualification.

• This table reflects a total of 216,633 disqualified loans that have aged 3, 6, 12, 18, 24 or 30 months through the August activity period as reported by servicers through September 17, 2012. 

• Servicers are required to report monthly payment information on HAMP modifications in the form of an Official Monthly Report (OMR). Servicers did not submit 9,389 OMRs, or 1.1% of total required OMR’s for 

payments due August 1, 2012. If a servicer does not report an OMR for a loan in a given month, the performance of that loan is not included in the table for that month. This table reflects improved servicer OMR 

reporting as the modification ages, causing the total loan count for each quarter in months 6 and beyond to be higher than the count in month 3. Reported loan counts may shift from prior reports due to servicer data 

corrections. If one were to assume all unreported OMRs reflect either a current payment status or the maximum number of missed payments based on the most recently submitted OMR, the re-default rate for 

permanent modifications that have aged 30 months may range between 32.8%-33.2%.

• Once a loan is paid off, it is no longer reflected in future periods. 

• This table will be published quarterly. Beyond 6 months, performance is noted in 6-month increments.

This table shows the performance of permanent HAMP modifications at 3, 6, 12, 18, 24 and 30 months of age and includes modifications 

that have aged at least 3, 6, 12, 18, 24 or 30 months, as applicable. For example: 

Of loans that became permanent in the 4th quarter of 2010, 8.6% were 60+ days delinquent at 6 months’ seasoning.

6

Modification 

Became 

Permanent 

in: 

Delinquency: Months After Conversion to Permanent Modification 

3 6 12 18 24 30

# 

60+ 90+ 

# 

60+ 90+ 

# 

60+ 90+ 

#

60+ 90+

#

60+ 90+ # 60+ 90+

Days Days Days Days Days Days Days Days Days Days Days Days

Q3 2009 3,569 9.4% 3.1% 4,415 14.7% 9.6% 4,660 25.2% 20.5% 4,997 31.9% 28.5% 5,107 36.6% 33.3% 5,168 40.9% 38.3%

Q4 2009 44,215 5.3% 1.4% 48,041 9.6% 5.6% 52,026 19.8% 15.2% 55,355 25.0% 21.9% 56,369 31.2% 28.1% 57,530 34.9% 32.6%

Q1 2010 125,215 3.7% 0.9% 151,631 9.7% 5.3% 163,582 20.2% 15.9% 168,858 26.0% 22.4% 170,985 32.0% 28.9% 170,965 35.7% 33.2%

Q2 2010 149,494 5.0% 1.4% 159,045 11.8% 7.0% 176,145 19.4% 15.9% 173,443 27.7% 24.0% 182,039 31.2% 28.8%

Q3 2010 86,797 4.7% 1.4% 96,664 10.7% 6.6% 105,074 17.9% 14.1% 107,288 25.1% 21.7% 107,442 29.4% 26.7%

Q4 2010 58,300 4.3% 1.4% 62,760 8.6% 5.4% 65,367 18.1% 14.1% 67,073 23.8% 21.0%

Q1 2011 71,559 2.6% 0.8% 76,423 7.7% 4.5% 80,432 16.8% 13.3% 82,223 22.1% 19.1%

Q2 2011 80,749 3.4% 1.0% 89,910 8.9% 5.3% 93,677 16.1% 13.1%

Q3 2011 81,616 3.6% 1.1% 86,770 8.7% 5.4% 87,778 15.5% 12.3%

Q4 2011 65,493 3.2% 1.1% 68,057 6.8% 4.3%

Q1 2012 49,757 2.4% 0.7% 51,204 6.6% 3.9%

Q2 2012 44,249 2.8% 0.8%

ALL 861,013 3.9% 1.1% 894,920 9.4% 5.6% 828,741 18.3% 14.5% 659,237 25.6% 22.1% 521,942 31.1% 28.3% 233,663 35.6% 33.2%
Making Home Affordable: Summary Results

Program Performance Report Through September 2012

Performance of Permanent Modifications by Homeowner Payment Reduction (As of August 31, 2012)

Note: For permanent loans aged at least 3 months as of August 31, 2012, as reported by servicers through September 17, 2012. See previous page for technical notes.

0%

10%

20%

30%

40%

50%

60%

3 6 12 18 24 30

60+ Day Delinquency Rate

Months After Conversion to Permanent Modification

60+ Day Delinquency Rate by Payment Reduction

Decreased by 20% or less

Decreased above 20% up to

and including 30%

Decreased above 30% up to

and including 40%

Decreased above 40% up to

and including 50%

Decreased by more than

50%

Program Average

This chart and the table that follows show the performance of permanent HAMP modifications at 3, 6, 12, 18, 24 and 30 months of age as related to homeowner 

payment reduction. For example: Of loans that featured a payment reduction between 40% and 50%, 7.2% were 60+ days delinquent at 6 months’ seasoning. 

7

Decrease 

From BeforeModification 

Principal + 

Interest 

Payment: 

Delinquency: Months After Conversion to Permanent Modification

3 6 12 18 24 30

# 60+ 

Days

90+ 

Days # 60+ Days

90+ 

Days # 60+ Days

90+ 

Days # 60+Days

90+

Days # 60+Days

90+

Days # 60+Days

90+

Days

≤20% 

Decrease 171,492 6.7% 2.1% 178,549 16.0% 9.9% 165,856 29.5% 24.1% 128,530 39.6% 35.2% 100,615 47.0% 43.8% 43,478 52.2% 49.6%

(20%-30%] 

Decrease 133,469 4.8% 1.4% 139,191 11.6% 6.9% 129,780 22.3% 17.9% 103,301 31.2% 27.3% 81,079 38.0% 34.8% 36,295 43.3% 40.6%

(30%-40%] 

Decrease 150,544 3.7% 1.1% 156,680 9.1% 5.4% 145,765 18.3% 14.5% 116,665 26.0% 22.5% 92,271 32.0% 29.0% 42,160 36.8% 34.3%

(40%-50%] 

Decrease 156,704 2.9% 0.8% 163,087 7.2% 4.2% 151,585 14.8% 11.5% 121,048 21.3% 18.1% 95,550 26.7% 24.0% 43,302 31.5% 29.1%

>50% 

Decrease 248,804 2.2% 0.6% 257,413 5.1% 2.8% 235,755 10.4% 7.9% 189,693 15.4% 12.8% 152,427 19.3% 17.1% 68,428 22.8% 20.7%

ALL 861,013 3.9% 1.1% 894,920 9.4% 5.6% 828,741 18.3% 14.5% 659,237 25.6% 22.1% 521,942 31.1% 28.3% 233,663 35.6% 33.2%
Making Home Affordable: Summary Results

Program Performance Report Through September 2012

• The primary hardship reasons for homeowners in active permanent 

modifications are:

• 67.6% experienced loss of income (curtailment of income or 

unemployment)

• 11.0% reported excessive obligation

• 3.4% 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 45.5% 31.0% -14.7 pct pts

Back-End Debt-to-Income Ratio2 71.7% 53.5% -15.0 pct pts

Median Monthly Housing Payment3 $1,425.57 $815.85 -$541.02

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, 80% of homeowners were at least 60 

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

current and in imminent default. 

8

• Aggregate payment savings to homeowners who received HAMP 

first lien permanent modifications are estimated to total 

approximately $15.6 billion, program to date, compared with 

unmodified mortgage obligations.

• The median monthly savings for borrowers in active permanent 

first lien modifications is $541.02, or 38% of the median monthly 

payment before modification. 

• Active permanent modifications feature the following modification steps:

• 97.2% feature interest rate reductions

• 60.6% offer term extension

• 31.8% include principal forbearance

Modifications by Investor Type (Large Servicers)

Servicer GSE Private Portfolio

Total Active 

Modifications

Bank of America, N.A. 70,178 54,771 10,852 135,801

CitiMortgage, Inc. 32,880 5,615 17,043 55,538

GMAC Mortgage, LLC 25,434 6,240 12,745 44,419

Homeward Residential 1,761 27,727 0 29,488

JPMorgan Chase N.A. 69,826 56,531 27,082 153,439

Ocwen Loan Servicing, LLC 13,567 59,663 1,445 74,675

OneWest Bank 15,696 17,958 2,972 36,626

Select Portfolio Servicing 515 22,810 2,928 26,253

Wells Fargo Bank, N.A. 56,388 19,340 52,934 128,662

Other HAMP Servicers 170,133 26,416 17,527 214,076

Total 456,378 297,071 145,528 898,977

Note: Figures reflect active trials and active permanent modifications.
Making Home Affordable: Summary Results

Program Performance Report Through September 2012

9

Note: Includes active trial and permanent 

modifications from the official HAMP system of 

record.

Source: 2nd Quarter 2012 

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 45 369 414 0.0% MT 71 954 1,025 0.1%

AL 404 4,553 4,957 0.6% NC 1,244 14,781 16,025 1.8%

AR 131 1,772 1,903 0.2% ND 10 122 132 0.0%

AZ 1,625 33,771 35,396 3.9% NE 98 1,104 1,202 0.1%

CA 14,815 214,142 228,957 25.5% NH 301 3,683 3,984 0.4%

CO 860 11,664 12,524 1.4% NJ 2,432 26,789 29,221 3.3%

CT 994 10,526 11,520 1.3% NM 276 2,717 2,993 0.3%

DC 119 1,430 1,549 0.2% NV 1,117 19,075 20,192 2.2%

DE 200 2,438 2,638 0.3% NY 4,511 41,016 45,527 5.1%

FL 8,091 100,939 109,030 12.1% OH 1,494 17,375 18,869 2.1%

GA 2,332 30,019 32,351 3.6% OK 182 1,904 2,086 0.2%

HI 287 3,186 3,473 0.4% OR 754 9,197 9,951 1.1%

IA 137 1,986 2,123 0.2% PA 1,571 16,772 18,343 2.0%

ID 201 3,183 3,384 0.4% RI 292 4,033 4,325 0.5%

IL 3,251 43,508 46,759 5.2% SC 588 7,548 8,136 0.9%

IN 599 7,730 8,329 0.9% SD 25 292 317 0.0%

KS 178 1,923 2,101 0.2% TN 737 8,266 9,003 1.0%

KY 272 2,994 3,266 0.4% TX 2,074 22,124 24,198 2.7%

LA 424 4,578 5,002 0.6% UT 387 7,655 8,042 0.9%

MA 1,788 19,970 21,758 2.4% VA 1,440 19,729 21,169 2.4%

MD 2,015 26,351 28,366 3.2% VT 69 697 766 0.1%

ME 211 2,284 2,495 0.3% WA 1,463 17,330 18,793 2.1%

MI 1,505 25,560 27,065 3.0% WI 640 7,794 8,434 0.9%

MN 845 13,291 14,136 1.6% WV 96 1,099 1,195 0.1%

MO 733 8,099 8,832 1.0% WY 28 401 429 0.0%

MS 214 2,881 3,095 0.3% Other2 166 3,031 3,197 0.4%

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 September 2012

Homeowner Outreach Events Hosted Nationally by Treasury 

and Partners (cumulative) 77

Homeowners Attending Treasury-Sponsored Events 

(cumulative) 69,020

Servicer Solicitation of Borrowers (cumulative)1 8,710,979

Page views on MakingHomeAffordable.gov

(September 2012) 1,962,223

Page views on MakingHomeAffordable.gov (cumulative) 157,896,706

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 September

Total Number of Calls Taken at 

1-888-995-HOPE 3,390,350 59,654

Borrowers Referred for Free Housing 

Counseling Assistance Through the 

Homeowner’s HOPETM Hotline

1,632,689 31,291

Selected Homeowner Outreach Measures

Homeowner’s HOPETM Hotline Volume

Source: Homeowner’s HOPETM Hotline. Numbers reflect calls that resulted in customer records.

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

http://www.treasury.gov/initiatives/financial-stability/results/MHA-Reports/ 10

Metropolitan Statistical Area

Active

Trials

Permanent

Modifications

Total MSA 

HAMP 

Activity

% of U.S. 

HAMP 

Activity

Los Angeles-Long Beach-Santa Ana, 

CA 5,018 67,275 72,293 8.0%

New York-Northern New JerseyLong Island, NY-NJ-PA 5,578 54,738 60,316 6.7%

Miami-Fort Lauderdale-Pompano 

Beach, FL 3,721 43,858 47,579 5.3%

Chicago-Joliet-Naperville, IL-IN-WI 

3,124 42,261 45,385 5.0%

Riverside-San Bernardino-Ontario, 

CA 2,465 42,434 44,899 5.0%

Washington-Arlington-Alexandria, 

DC-VA-MD-WV 1,886 28,063 29,949 3.3%

Phoenix-Mesa-Glendale, AZ 1,143 27,049 28,192 3.1%

Atlanta-Sandy Springs-Marietta, GA 1,872 24,267 26,139 2.9%

San Francisco-Oakland-Fremont, CA 1,473 18,622 20,095 2.2%

San Diego-Carlsbad-San Marcos, CA 1,056 15,660 16,716 1.9%

Las Vegas-Paradise, NV 913 15,650 16,563 1.8%

Detroit-Warren-Livonia, MI 924 15,469 16,393 1.8%

Orlando-Kissimmee-Sanford, FL 1,047 14,995 16,042 1.8%

Boston-Cambridge-Quincy, MA-NH 1,246 14,376 15,622 1.7%

Sacramento-Arden-Arcade-Roseville, 

CA 970 14,160 15,130 1.7%

15 Metropolitan Areas With Highest HAMP Activity

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

Program Performance Report Through September 2012

As of 

August 31, 2012 Cumulative As of September 30, 2012

Servicer 

Estimated 

Eligible 60+ Day 

Delinquent

Borrowers1 

Trial Plan 

Offers 

Extended2 

All HAMP 

Trials 

Started3

All HAMP 

Permanent 

Modifications

Started3

Active Trial 

Modifications3

Active Trial 

Modifications 

Lasting 6 Months 

or Longer4

Active 

Permanent 

Modifications3

Bank of America, N.A. 127,353 550,159 355,271 167,279 14,085 5,027 121,716

CitiMortgage, Inc. 47,226 211,109 140,650 65,732 3,398 904 52,140

GMAC Mortgage, LLC 23,901 110,264 74,116 56,864 1,881 39 42,538

Homeward Residential 26,154 53,919 44,958 37,235 1,901 192 27,587

JPMorgan Chase Bank, N.A. 86,298 408,530 326,686 181,206 12,070 625 141,369

Ocwen Loan Servicing, LLC 72,583 106,143 158,258 95,863 7,229 889 67,446

OneWest Bank 18,897 96,266 64,501 42,219 1,891 126 34,735

Select Portfolio Servicing 17,937 73,780 59,206 34,288 1,246 200 25,007

Wells Fargo Bank, N.A. 87,561 356,030 276,152 147,959 10,991 1,207 117,671

Other Servicers 214,816 282,707 427,827 261,951 9,650 1,093 204,426

Total 722,726 2,248,907 1,927,625 1,090,596 64,342 10,302 834,635

HAMP Modification Activity by Servicer

11

1 Estimated eligible 60+ day delinquent borrowers based on survey 

information as submitted by servicers as of August 31, 2012, include those 

in conventional loans: 

 in foreclosure and bankruptcy.

 with a current unpaid principal balance less than $729,750 on a oneunit property, $934,200 on a two-unit property, $1,129,250 on a threeunit 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 exclude: 

 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 monthly servicer survey of large SPA servicers through 

September 30, 2012. Servicers began accepting HAMP Tier 2 

modification requests as of June 1, 2012 and some servicers have 

begun to include trial plans offered under the HAMP Tier 2 eligibility 

requirements. 3 As reported into the HAMP system of record by servicers. Excludes FHAHAMP 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 or cancelled by the servicer, but not reported 

as such to the HAMP system of record.

See Appendix A1 and A2 for additional information on servicer participants in Making Home Affordable programs. 
Making Home Affordable: Servicer Results

Program Performance Report Through September 2012

12

Making Home Affordable Programs by Servicer1

1 MHA Program Effective Dates:

 HAMP First Lien: April 6, 2009

 PRA: October 1, 2010

 2MP: August 13, 2009

 HAFA: April 5, 2010

2 While both GSE and non-GSE loans are eligible for HAMP, at the present time due to 

GSE policy, servicers can only offer PRA on non-GSE modifications under HAMP. 

Servicer volume can vary based on the investor composition of the servicer’s portfolio 

and respective policy with regards to PRA. See page 8 for additional servicer detail on 

HAMP activity by investor type.

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 Number of second lien modifications started is net of cancellations, which are primarily 

due to servicer data corrections.

5 Servicer agreement with homeowner for terms of potential short sale, which lasts at 

least 120 days; or agreement for a deed-in-lieu transaction. A short sale requires a thirdparty purchaser and cooperation of junior lienholders and mortgage insurers to 

complete the transaction. 

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

HAMP First Lien Modifications Principal Reduction Alternative 

(PRA)2

Second Lien 

Modification 

(2MP)

Home Affordable Foreclosure 

Alternatives (HAFA)

Servicer Trials

Started3

Permanent 

Modifications 

Started3

Trials 

Started3

Permanent 

Modifications 

Started3

Second Lien 

Modifications 

Started4

Agreements 

Started5

Agreements 

Completed

Bank of America, N.A. 355,271 167,279 13,826 11,448 32,441 25,320 23,987

CitiMortgage, Inc. 140,650 65,732 2,363 1,828 11,871 732 498

GMAC Mortgage, LLC 74,116 56,864 2,659 1,884 4,571 3,957 2,859

Homeward Residential 44,958 37,235 0 0 N/A 1,268 657

JPMorgan Chase Bank, N.A. 326,686 181,206 25,497 19,210 26,849 37,482 25,655

Ocwen Loan Servicing, LLC 158,258 95,863 25,372 17,906 N/A 3,174 1,564

OneWest Bank 64,501 42,219 5,768 4,873 3,036 4,099 2,167

Select Portfolio Servicing 59,206 34,288 2,196 1,957 N/A 3,010 2,360

Wells Fargo Bank, N.A. 276,152 147,959 20,189 16,187 14,203 17,189 10,802

Other Servicers 427,827 261,951 2,854 2,362 3,951 6,086 4,874

Total 1,927,625 1,090,596 100,724 77,655 96,922 102,317 75,423

See Appendix A1 and A2 for additional information on servicer participants in Making Home Affordable programs. 
Making Home Affordable: Servicer Results

Program Performance Report Through September 2012

13

1 Homeowners with HAMP eligible loans, which include conventional loans that were originated on or before 1/1/2009; excludes loans with current unpaid principal balances greater than current conforming loan limits, FHA and VA loans, loans 

where investor pooling and servicing agreements preclude modification, and manufactured housing loans with title/chattel issues that exclude them from HAMP. Treasury has expanded HAMP's eligibility criteria to include a "Tier 2" evaluation 

designed to provide help for borrowers with a financial hardship whose debt-to-income ratio is below 31 percent, who have properties occupied by a tenant or who have vacant properties that the borrower intends to rent. Servicers began 

accepting HAMP Tier 2 modification requests as of 6/1/2012 and some servicers have begun to include HAMP Tier 2 eligible loans in the outreach survey data shown here. 2 Right Party Contact (RPC) is achieved when a servicer has successfully communicated directly with the homeowner obligated under the mortgage about resolution of their delinquency in accordance with program guidelines. The RPC ratio reflects 

the share of homeowners with which the servicer has established RPC as a percent of HAMP eligible loans, excluding homeowners where RPC or HAMP evaluation is no longer needed. 3 HAMP evaluations complete ratio reflects the share of homeowners who have been evaluated for HAMP as a percent of HAMP eligible loans, excluding homeowners where RPC or HAMP evaluation is no longer needed. Evaluated homeowners 

include those offered a trial plan, those that are denied or did not accept a trial plan and homeowners that failed to submit a complete HAMP evaluation package by program-specified timelines.

Source: Survey of 9 largest participating servicers as of August 31, 2012.

13

Servicer Outreach to 60+ Day Delinquent Homeowners: Cumulative Servicer Results, September 2011 – August 2012

Per program guidance, servicers are directed to establish Right Party Contact (RPC) with homeowners of delinquent HAMP eligible 

loans1 and then evaluate the homeowners' eligibility for HAMP. There is a range of performance results across top program servicers 

with respect to making RPC and completing the evaluations.

73%

90% 87% 90%

79%

69%

77%

40%

69%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Bank of America CitiMortgage GMAC Homeward

Residential

JPMorgan Chase Ocwen OneWest SPS Wells Fargo

Right Party Contact Ratio2 HAMP Evaluations Complete Ratio3

92% 92% 92%

97%

83%

80%

95%

90%

54%
Making Home Affordable: Servicer Results

Program Performance Report Through September 2012

Average Homeowner Delinquency at Trial Start1

1 For all permanent modifications started, the average number of days delinquent as of the trial plan start date. Delinquency is calculated as the number of days between the 

homeowner's last paid installment before the trial plan and the first payment due date of the trial plan.

0

50

100

150

200

250

300

Bank of America CitiMortgage GMAC Homeward

Residential

JPMorgan Chase Ocwen OneWest SPS Wells Fargo

Days

14

Servicers are instructed to follow a series of steps in order to evaluate homeowners for HAMP, including:

• Identifying and soliciting the homeowners in the early stages of delinquency; 

• Making reasonable efforts to establish right party contact with the homeowners; 

• Gathering required documentation once contact is established in order to evaluate the homeowners for a HAMP trial; and, 

• Communicating decisions to the homeowners.

Effective 10/1/11, a new servicer compensation structure exists to encourage servicers to work with struggling homeowners in the early stages of delinquency with the 

highest incentives paid for permanent modifications completed when the homeowner is 120 days delinquent or less at the trial start.

Maximum servicer incentive is paid for 

converting a permanent modification 

that was 120 days delinquent or less at 

trial start.
Making Home Affordable: Servicer Results

Program Performance Report Through September 2012

83%

87% 86%

89% 88%

80%

90%

83%

89%

0%

20%

40%

60%

80%

100%

Bank of America CitiMortgage GMAC Homeward

Residential

JPMorgan Chase Ocwen OneWest SPS Wells Fargo

Conversion Rate

Conversion Rate1

15

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

86% Converted to Permanent Modification

4% Pending Processing or Decision

Per program guidelines, effective June 1, 2010, all trials must be started using verified income documentation. Of eligible trials started on or after June 1, 2010, 

86% have converted to permanent modification with an average trial length of 3.5 months. Prior to June 1, 2010, some servicers initiated trials using stated income 

information. Of trials started prior to June 1, 2010, 44% have converted to permanent modification. 

1 Chart depicts conversion rates 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.
Making Home Affordable: Servicer Results

Program Performance Report Through September 2012

0

5

10

15

20

25

30

35

40

45

50

Bank of America CitiMortgage GMAC Homeward

Residential

JPMorgan Chase Ocwen OneWest SPS Wells Fargo

Days

Q4 2011 Q1 2012 Q2 2012 Q3 2012

16

1 Non-GSE escalations only; excludes cases escalated to the MHA Support Centers but not yet escalated to servicers. Average resolution time calculation excludes cases referred to servicers prior to February 1, 2011, 'Investor denial' cases referred to 

servicers between February 1, 2011 and November 1, 2011, cases involving bankruptcy, and cases that did not require servicer actions. 2 Target of 30 calendar days includes an estimated 5 days of processing by MHA Support Centers.

3 Resolved cases include all escalations resolved on or after February 1, 2011 through September 30, 2012 and exclude those that did not require servicer actions.

Source: MHA Support Centers. 

Servicer Time to Resolve Non-GSE Escalations: Average Resolution Time by Quarter in Which Escalations were Resolved1

Servicers are required to resolve borrower inquiries and disputes that are escalated by the MHA Support Centers. Escalated cases include allegations 

that the servicer did not properly assess the homeowner according to program guidelines, inappropriately denied the homeowner for applicable 

MHA program(s), or initiated or continued inappropriate foreclosure actions. Effective February 1, 2011, the servicers are directed to review and 

resolve non-GSE escalated cases within 30 calendar days from receipt of the case by the escalating party. Over the last two quarters, all of the nine 

largest servicers’ non-GSE resolved cases have an average resolution time below the 30 day target.

Target: 30 Calendar Days2

Bank of 

America CitiMortgage GMAC Homeward Residential

JPMorgan 

Chase Ocwen OneWest SPS Wells Fargo 

Resolved Cases3

GSE Cases 6,574 953 389 42 2,108 219 512 7 1,641

Non-GSE Cases 7,897 678 589 1,109 3,333 1,763 699 265 3,211

Total 14,471 1,631 978 1,151 5,441 1,982 1,211 272 4,852

Active Cases Total 219 34 12 28 88 43 16 3 183
Making Home Affordable: Servicer Results

Program Performance Report Through September 2012

Disposition Path 

Homeowners in Canceled HAMP Trial Modifications

Survey Data Through August 2012 (Largest Servicers)

Status of Homeowners Whose HAMP Trial Modification Was Canceled:

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 

August

2012)

Bank of America, N.A. 6,613 5,397 15,241 66,649 1,678 6,410 21,824 18,379 31,046 173,237

CitiMortgage Inc. 1,804 6,357 6,451 27,193 1,928 3,216 6,119 4,695 11,223 68,986

GMAC Mortgage, LLC 316 307 1,090 6,944 10 694 1,441 1,619 2,419 14,840

Homeward Residential 178 103 440 2,655 54 627 428 710 147 5,342

JPMorgan Chase Bank, 

N.A. 4,138 3,557 21,784 40,863 1,343 2,216 14,718 13,801 13,929 116,349

Ocwen Loan Services, LLC 2,000 1,917 3,507 21,738 2,039 499 864 7,003 3,391 42,958

OneWest Bank 165 262 482 12,095 42 112 1,257 1,464 4,374 20,253

Select Portfolio Servicing 773 270 1,078 5,730 247 340 1,627 895 4,197 15,157

Wells Fargo Bank, N.A. 1,093 4,587 9,551 41,605 695 7,928 8,431 15,902 26,433 116,225

TOTAL 

(These Largest

Servicers)

17,080 22,757 59,624 225,472 8,036 22,042 56,709 64,468 97,159 573,347

3.0% 4.0% 10.4% 39.3% 1.4% 3.8% 9.9% 11.2% 16.9% 100%

Note: Data is as reported by servicers for actions completed through August 31, 2012. 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. 

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

17 See Appendix A1 and A2 for additional information on servicer participants in Making Home Affordable programs. 
Making Home Affordable: Servicer Results

Program Performance Report Through September 2012

Disposition Path 

Homeowners Not Accepted for HAMP Trial Modifications

Survey Data Through August 2012 (Largest Servicers)

Status of Homeowners Not Accepted for a HAMP Trial Modification:

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 

August 

2012)

Bank of America, N.A. 23,918 15,198 94,594 167,469 9,280 20,666 49,773 54,463 59,828 495,189

CitiMortgage Inc. 9,894 16,514 24,003 61,959 8,381 6,110 21,036 16,413 23,655 187,965

GMAC Mortgage, LLC 7,276 4,462 40,142 51,487 644 10,501 14,438 14,815 18,455 162,220

Homeward Residential 2,561 1,956 17,230 45,074 1,587 5,839 3,918 9,555 1,911 89,631

JPMorgan Chase Bank, 

N.A. 19,301 16,644 140,214 139,658 8,171 61,277 66,737 52,652 35,644 540,298

Ocwen Loan Services, LLC 13,037 7,147 26,778 103,862 10,661 4,804 5,488 19,597 14,061 205,435

OneWest Bank 3,663 2,454 31,176 42,032 926 3,868 6,839 9,205 13,139 113,302

Select Portfolio Servicing 1,863 432 3,104 6,723 381 442 2,362 1,283 2,920 19,510

Wells Fargo Bank, N.A. 14,227 9,833 59,330 46,637 1,594 17,886 32,971 28,916 33,611 245,005

TOTAL 

(These Largest 

Servicers)

95,740 74,640 436,571 664,901 41,625 131,393 203,562 206,899 203,224 2,058,555

4.7% 3.6% 21.2% 32.3% 2.0% 6.4% 9.9% 10.1% 9.9% 100.0%

Note: Data is as reported by servicers for actions completed through August 31, 2012. 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. 

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

• Offer not accepted by 

borrower/request 

withdrawn

18 See Appendix A1 and A2 for additional information on servicer participants in Making Home Affordable programs. 
Making Home Affordable

Program Performance Report Through September 2012

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

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

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

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

Allstate Mortgage Loans & 

Investments, Inc.

AMS Servicing, LLC

Aurora Loan Services, LLC

Bank of America, N.A.1

Bank United

Bayview Loan Servicing, LLC

Carrington Mortgage Services, LLC

CCO Mortgage

Central Florida Educators Federal 

Credit Union

CitiMortgage, Inc.

Citizens 1st National Bank

Community Bank & Trust Company

CUC Mortgage Corporation

DuPage Credit Union

Fay Servicing, LLC

Fidelity Homestead Savings Bank

First Bank

First Financial Bank, N.A.

Franklin Credit Management 

Corporation

Franklin Savings

Glass City Federal Credit Union

GMAC Mortgage, LLC

Great Lakes Credit Union

Greater Nevada Mortgage Services

Green Tree Servicing LLC

Hartford Savings Bank

Hillsdale County National Bank

HomEq Servicing

Homeward Residential2

Horicon Bank

IC Federal Credit Union

Idaho Housing and Finance Association

iServe Residential Lending LLC

iServe Servicing Inc.

JPMorgan Chase Bank, N.A.3

Lake City Bank

Liberty Bank and Trust Co. 

Los Alamos National Bank

Magna Bank

Marix Servicing, LLC

Midland Mortgage Company

Midwest Community Bank

Mission Federal Credit Union

Mortgage Center, LLC

Nationstar Mortgage, LLC

Navy Federal Credit Union

Ocwen Loan Servicing, LLC4

OneWest Bank

ORNL Federal Credit Union

Pathfinder Bank

PennyMac Loan Services, LLC

PNC Bank, National Association

PNC Mortgage5

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

Select Portfolio Servicing

Servis One Inc., dba BSI Financial 

Services, Inc.

ShoreBank

Silver State Schools Credit Union

Specialized Loan Servicing, LLC

Sterling Savings Bank

Technology Credit Union

The Golden 1 Credit Union

U.S. Bank National Association

United Bank

United Bank Mortgage Corporation

Vantium Capital, Inc.

Vist Financial Corp.

Wealthbridge Mortgage Corp. 

Wells Fargo Bank, N.A.6

Yadkin Valley Bank

1 Bank of America, N.A. includes all loans previously reported under BAC Home Loans 

Servicing LP, Home Loan Services and Wilshire Credit Corporation. 2 Formerly American Home Mortgage Servicing, Inc.

3 JPMorgan Chase Bank, N.A. includes all loans previously reported under EMC Mortgage 

Corporation. 

4 Ocwen Loan Servicing, LLC includes Litton Loan Servicing LP. 5 Formerly National City Bank.

6 Wells Fargo Bank, N.A. includes all loans previously reported under Wachovia Mortgage, FSB. 

Appendix A1: Non-GSE Participants in HAMP

19
Making Home Affordable

Program Performance Report Through September 2012

Second Lien Modification Program (2MP)

Bank of America, N.A.1

Bayview Loan Servicing, LLC 

CitiMortgage, Inc.

GMAC Mortgage, LLC 

Green Tree Servicing LLC 

iServe Residential Lending, LLC 

iServe Servicing, Inc. 

JPMorgan Chase Bank, N.A.2

Nationstar Mortgage LLC

OneWest Bank

PennyMac Loan Services, LLC

PNC Bank, National Association

PNC Mortgage 3

Residential Credit Solutions 

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

Wells Fargo Bank, N.A. 4

FHA First Lien Program (Treasury FHA-HAMP)

Amarillo National Bank

American Financial Resources Inc. 

Aurora Financial Group, Inc. 

Aurora Loan Services, LLC 

Banco Popular de Puerto Rico 

Bank of America, N.A.1

Capital International Financial, Inc. 

CitiMortgage, Inc. 

CU Mortgage Services, Inc. 

First Federal Bank of Florida 

First Mortgage Corporation 

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 

JPMorgan Chase Bank, N.A.2

M&T Bank 

Marix Servicing, LLC 

Marsh Associates, Inc. 

Midland Mortgage Company 

Nationstar Mortgage ,LLC 

Ocwen Loan Servicing, LLC 5

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, N.A.4

Weststar Mortgage, Inc. 

FHA Second Lien Program (FHA 2LP)

Bank of America, N.A.1

Bayview Loan Servicing, LLC 

CitiMortgage, Inc. 

Flagstar Capital Markets Corporation 

GMAC Mortgage, LLC

Green Tree Servicing, LLC

JPMorgan Chase Bank, N.A.2

Nationstar Mortgage LLC 

PNC Bank, National Association 

PNC Mortgage 3

Residential Credit Solutions 

Saxon Mortgage Services, Inc. 

Select Portfolio Servicing 

Wells Fargo Bank, N.A. 4

Rural Housing Service Modification Program 

(RD-HAMP)

Banco Popular de Puerto Rico

Bank of America, N.A.1

Horicon Bank 

JPMorgan Chase Bank, N.A.2

Magna Bank 

Marix Servicing, LLC 

Midland Mortgage Company 

Nationstar Mortgage LLC 

Wells Fargo Bank, N.A.4

1 Bank of America, N.A. includes all loans previously reported under BAC Home Loans Servicing 

LP, Home Loan Services and Wilshire Credit Corporation.

2 JPMorgan Chase Bank, N.A. includes all loans previously reported under EMC Mortgage 

Corporation. 

3 Formerly National City Bank.

4 Wells Fargo Bank, N.A. includes all loans previously reported under Wachovia Mortgage FSB. 5 Ocwen Loan Servicing, LLC includes Litton Loan Servicing LP

Appendix A2: Participants in Additional Making Home Affordable Programs

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