Making Home Affordable

Program Performance Report Through December 2013

Report Highlights

More Than 1.9 Million Homeowner Assistance Actions Taken through 

Making Home Affordable • More than 1.3 million homeowners have received a permanent modification through the Home 

Affordable Modification Program (HAMP). Homeowners have reduced their first lien mortgage 

payments by a median of approximately $546 each month – almost 40% of their median beforemodification payment – saving a total estimated $24.8 billion to date in monthly mortgage 

payments. 

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

have been granted an estimated $13 billion in principal reduction. Of all non-Government 

Sponsored Enterprise (GSE) loans eligible for principal reduction entering HAMP in December, 

59% included a principal reduction feature.

• Nearly 126,000 second lien modifications have been started through the Second Lien 

Modification Program (2MP). 

This Month’s Feature : The Home Affordable Foreclosure Alternatives Program 

• More than 258,000 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). 

• Non-GSE homeowners have been granted an estimated $20.3 billion in debt relief through 

HAFA since the beginning of the program. 

Quarterly Update on the Performance of Permanent HAMP Modifications 

• Performance of HAMP modifications continues to improve over time. For modifications 

seasoned 24 months, 23.6% of modifications started in 2011 have disqualified, compared to 

28.6% of modifications started in 2009.

• Program data supports that the longer a homeowner remains in HAMP, the more likely he or 

she is to keep up with their mortgage payments and avoid foreclosure. 

• Payment reduction is a strong driver of permanent modification sustainability. For example, of 

modifications seasoned 24 months, only 15.9% with a monthly payment reduction greater than 

50% have been disqualified due to missing three payments. By contrast, those modifications 

with a payment reduction of 20% or less had a disqualification rate of 41.2%.

Note: 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.

Inside:

SUMMARY AND PROGRAM RESULTS:

Making Home Affordable Program 

Summary

2

HAMP Summary 3

PRA, Treasury FHA-HAMP and UP Summary 4

HAFA and 2MP Summary 5

Featured Program Results: HAFA 6

Performance of Permanent HAMP 

Modifications

7-9

HAMP Modification Characteristics 10

HAMP Activity by State and MSA 11

Homeowner Outreach 12

SERVICER RESULTS:

HAMP, PRA, 2MP, and HAFA Activity 13

HAMP Modification Activity 14

Outreach to 60+ Day Delinquent 

Homeowners 15

Average Delinquency at Trial Start 16

Conversion Rate 17

Disposition of Homeowners Not in HAMP 18

APPENDICES:

Terms and Methodology 19

Program Notes 20

End Notes 21

Participants in MHA Programs 22-23
Making Home Affordable: Summary Results

Program Performance Report Through December 2013

Program Purpose

MHA First Lien 

Modifications

The 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. 

Effective June 2012, HAMP's eligibility requirements were 

expanded to include a "Tier 2" evaluation for non-GSE 

loans that is modeled after the GSE Standard Modification 

and includes properties that are currently occupied by a 

tenant as well as vacant properties the borrower intends 

to rent. FHA-HAMP and RD-HAMP provide first lien 

modifications for distressed borrowers in loans 

guaranteed through the Federal Housing Administration 

and Rural Housing Service.

Second Lien 

Modification Program 

(2MP)

Provides modifications and extinguishments on second 

liens when there has been an eligible first lien 

modification on the same property.

Home Affordable 

Foreclosure 

Alternatives (HAFA)

Provides transition alternatives to foreclosure in the form 

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

November 2012, the GSEs jointly streamlined their short 

sale and deed-in-lieu of foreclosure programs. The GSE 

Standard HAFA program is closely aligned with Treasury’s 

MHA HAFA program. A short sale requires a third-party 

purchaser and cooperation of junior lienholders and 

mortgage insurers to complete the transaction.

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. GSE Standard Modification and GSE Standard HAFA data provided by Fannie Mae and Freddie Mac.

In total, the MHA program has completed more than 1.9 million first and second lien permanent modifications, HAFA transactions, and UP forbearance plans.

Program-to-Date Reported Since Prior 

Period

MHA First Lien Permanent Modifications 

Started* 1,512,740 20,986

2MP Modifications Started 125,515 1,801

HAFA Transactions Completed 258,444 10,820

UP Forbearance Plans Started (through 

November 2013) 37,873 682

Cumulative Activity1 1,934,572 34,289

MHA Program Activity

1,434 1,475 1,515 1,550 1,588 1,624 1,665 1,703 1,740

1,791 1,826 1,864 1,900 1,935

800

1,000

1,200

1,400

1,600

1,800

2,000

Nov Dec Jan

2013

Feb Mar Apr May June July Aug Sep Oct Nov Dec

Cumulative MHA Activity (000s)

Cumulative Transactions Completed

*Program-to-Date Total Includes :

• 1,311,558 GSE and Non-GSE HAMP permanent modifications

• 25,710 FHA- and RD-HAMP modifications

• 175,472 GSE Standard Modifications since October 2011 under the GSEs’ Servicer 

Alignment Initiative

See Appendix for Terms and Methodology, Program Notes, End Notes and additional 

information on servicer participants in Making Home Affordable programs. 
Making Home Affordable: Summary Results

Program Performance Report Through December 2013

Cumulative Trial Starts (Left Axis)

Monthly Trial Starts (Right Axis)

HAMP (First Lien) Modifications

3

HAMP Trials Started

Servicers may enter new trial modifications into the HAMP system of record at any time. For example, 13,942 trials 

have entered the HAMP system of record since the prior report; 10,188 were trials with a first payment recorded in 

December 2013. 

HAMP Permanent Modifications Started (Cumulative)

1,060 1,077 1,091 1,107 1,122 1,136 1,151 1,167 1,179 1,191 1,206 1,223 1,237 1,256 1,269 1,285 1,298 1,312

600

700

800

900

1,000

1,100

1,200

1,300

1,400

July

2012

Aug Sep Oct Nov Dec Jan

2013

Feb Mar Apr May June July Aug Sep Oct Nov Dec

All Permanent Modifications Started 

(000s)

1,893

1,911 1,925

1,943

1,959 1,9731,985

2,000

2,017

2,035

2,055

2,071

2,087

2,103

2,115

2,128

2,142 2,152

0

5

10

15

20

25

30

35

40

45

50

1,750

1,800

1,850

1,900

1,950

2,000

2,050

2,100

2,150

2,200

July

2012

Aug Sep Oct Nov Dec Jan

2013

Feb Mar Apr May June July Aug Sept Oct Nov Dec

New Trials Started (000s)

All Trials Started (000s)

HAMP Activity Through December 2013 Total

Trial

Modifications

All Trials Started 2,151,713

 Tier 1 2,096,957

 Tier 2 54,756

Trials Reported Since Last Report2 13,942

Active Trials 57,996

Trial Modifications Cancelled since Verified Income 

Requirement* 78,431

Permanent Modifications

All Permanent Modifications Started 1,311,558

 Tier 1 1,277,272

 Tier 2 34,286

Permanent Modifications Reported Since Last Report 13,544

Permanent Modifications Disqualified (Cumulative)** 360,882

Active Permanent Modifications 926,792

Estimated Eligible Loans and Borrowers

Under the original HAMP program, launched in March 2009, now referred to as “Tier 1,” eligible 

loans include conventional loans more than 60 days delinquent (unless the borrower is in 

imminent default), that originated on or before January 1, 2009 with a current unpaid principal 

balance below the maximum conforming loan limit and were owner-occupied at origination.

Homeowners who have HAMP-eligible loans may qualify for Tier 1 if they meet additional criteria 

including, but not limited to requiring: a debt-to-income ratio greater than 31%, occupancy, 

employment, and pooling and servicing agreement eligibility. Based on current estimates, of the 

3.1 million homeowners who are currently 60+ days delinquent, an estimated 500,000 

homeowners are potentially eligible for HAMP Tier 1.

On January 27, 2012, Treasury announced an expansion of the eligibility for HAMP to reduce 

additional foreclosures and help stabilize neighborhoods. The eligibility was expanded for non-GSE 

loans to (1) allow for more flexible debt-to-income criteria and (2) include properties that are 

currently occupied by a tenant, as well as vacant properties which the borrower intends to rent. 

This expanded HAMP criteria, referred to as HAMP “Tier 2,” became effective on June 1, 2012 

(although not all servicers began offering Tier 2 modifications on that date). 

* When Treasury first launched HAMP in the spring of 2009, servicers were not required to verify a borrower’s 

income prior to commencing a trial modification. This was the policy because of the severity of the crisis, the 

number of homeowners already in default, and the fact that servicers had not yet built the systems to fully 

implement the program. However, this resulted in many trials being cancelled once income was verified. 

Treasury required all servicers to verify a borrower’s income as of June 10, 2010, which substantially lowered trial 

cancelations. Prior to that date, 703,728 trials were cancelled, for a cumulative of 782,159. ** Does not include 23,884 loans paid off.
Making Home Affordable: Summary Results

Program Performance Report Through December 2013

4

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 37,873

UP Forbearance Plans With Some Payment Required 32,290

UP Forbearance Plans With No Payment Required 5,583

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 44,573

All Treasury FHA-HAMP Permanent Modifications Started 25,636

Treasury FHA-HAMP Modification Activity

HAMP Principal Reduction Activity

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. 

Of all non-GSE loans eligible for principal reduction that started a trial in December 2013, 59% included a principal reduction feature, including 50% through the HAMP PRA program. 

HAMP Modifications 

with Earned Principal 

Reduction Under PRA3

HAMP Modifications 

with Upfront Principal 

Reduction Outside of 

PRA

Total HAMP 

Modifications with 

Principal Reduction

All Trial Modifications Started 161,405 49,847 211,252

Trials Reported Since Last Report 3,472 551 4,023

Active Trial Modifications 13,543 3,059 16,602

All Permanent Modifications Started 135,188 43,166 178,354

Permanent Modifications Reported Since Last Report 4,220 717 4,937

Active Permanent Modifications 112,602 36,510 149,112

Median Principal Amount Reduced for Active Permanent Modifications4 $72,492 $56,918 $67,607 

Median Principal Amount Reduced for Active Permanent Modifications (%)5 32.3% 18.0% 30.3%

Total Outstanding Principal Balance Reduced on Active Permanent Modifications4 $10,447,786,930 $2,528,458,037 $12,976,244,967 
Making Home Affordable: Summary Results

Program Performance Report Through December 2013

5

Second Lien Modification Program (2MP) Activity 

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 HAMP 

servicer. This assistance can result in a modification of the second lien and even full or partial extinguishment of the second lien. Second lien modifications follow a series of steps 

and may include capitalization, interest rate reduction, term extension and principal forbearance or forgiveness. Effective September 2013, Treasury expanded the 2MP program 

eligibility to include second liens with a qualifying first lien modified under the GSEs’ Standard Modification program. 

2MP modifications and partial extinguishments require that the qualifying first lien 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)* 125,515

Second Lien Modifications Involving Full Lien Extinguishments 32,444

Second Lien Modifications Disqualified** 9,597

Active Second Lien Modifications*** 79,891

Active Second Lien Modifications Involving Partial Lien 

Extinguishments 10,018

Second Lien Extinguishment Details

Median Amount of Full Extinguishment $60,592 

Median Amount of Partial Extinguishment for Active Second Lien 

Modifications $9,906 

Home Affordable Foreclosure Alternatives (HAFA) Activity

Non-GSE Activity GSE Activity Total

Short Sale 142,426 96,807 239,233

Deed-in-Lieu 4,534 14,677 19,211

Total Transactions Completed 146,960 111,484 258,444

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. Effective November 2012, the GSEs 

revised their short sale and deed-in-lieu programs. The GSE Standard HAFA program is closely aligned with Treasury’s MHA HAFA program. In HAFA transactions, homeowners:

• Follow a streamlined process for short sales and deed-in-lieu transactions that requires no verification of income (unless as required by investors) and allows for preapproved 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.

* Includes 1,123 loans that have a qualifying first lien GSE Standard Modification.

**Does not include 3,583 loans paid off. 

*** Includes 7,387 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.
Making Home Affordable: Program Results

Program Performance Report Through December 2013

86

101

114 126

140

154

170 181

194

215 226 238 248 258

0

50

100

150

200

250

300

Nov Dec Jan-13 Feb Mar Apr May June July Aug Sep Oct Nov Dec

All Transactions Completed (000s)

Cumulative HAFA Transactions Completed

Featured Program Results: The Home Affordable Foreclosure Alternatives (HAFA) Program

In 16% of HAFA transactions completed, the homeowner began a HAMP trial 

modification but later requested a HAFA agreement or was disqualified from 

HAMP.

Top Three States by HAFA Activity:

% of HAFA Transactions 

Completed

• California 40%

• Florida 16%

• Arizona 6%

Non-GSE HAFA Activity by State

Non-GSE HAFA Debt Relief 

6

In addition to satisfying the primary mortgage debt, as part of a HAFA short sale or 

deed-in-lieu the borrower must be fully released from liability for subordinate liens. 

• Forty-three percent of the HAFA transactions completed included release of a 

homeowner’s subordinate liens. 

• Approximately $370 million in subordinate liens has been released thus far.

Characteristics of Non-GSE HAFA Activity

Investor Type Transactions Completed 

GSE 111,484

Portfolio 40,495

Private 106,465

Total 258,444

SPA servicers must consider all borrowers denied for HAMP for a short sale or 

deed-in-lieu of foreclosure through the HAFA program. However, individual 

investors can impose additional eligibility requirements.

HAFA Activity by Investor Type

Through HAFA, borrowers can be relieved of significant unpaid principal balances. 

Homeowners have been granted an estimated $20.3 billion in debt relief since the 

beginning of the program.

Median Unpaid Principal Balance before HAFA $285,032 

Median Sales Price $167,000 

Median Debt Relief $129,324 

Median Debt Relief as % of UPB 48%

Source: HAMP system of record and data provided by Fannie Mae and Freddie Mac.
Making Home Affordable: Program Results

Program Performance Report Through December 2013

Quarterly Update on the Performance of Permanent Modifications (As of November 30, 2013)

7

The longer a homeowner remains in HAMP without defaulting, the less likely they are to default on their mortgage in the future:

• Performance of HAMP modifications has improved over time. For modifications seasoned 24 months, 23.6% of modifications started in 

2011 have disqualified, compared to 28.6% of modifications started in 2009.

• For more information, Treasury published a blog with additional research and analysis on understanding HAMP re-default rates. 

Conditional Re-default Rate by Modification Year

0%

1%

2%

3%

4%

5%

6%

3 6 9 12 15 18 21 24 27 30 33 36 39 42

3-Month Re-default Rate

Months After Conversion to Permanent Modification

2009

2010

2011

2012

Compared with other non-HAMP modifications, HAMP modifications continue to exhibit lower delinquency and re-default rates than industry 

modifications as reported in the latest report by the Office of the Comptroller of the Currency.

The majority of homeowners who disqualify from HAMP receive another foreclosure prevention option. Less than a quarter of homeowners 

who have been disqualified from HAMP have been referred to foreclosure. See page 18.

Note: A modification's inclusion in the 3-month re-default rate calculation is conditional on the modification being active at the start of the 3-month period being measured.
Making Home Affordable: Summary Results

Program Performance Report Through December 2013

Quarterly Update on the Performance of Permanent Modifications (As of November 30, 2013)

8

Mod. 

Effective 

in: 

Delinquency: Months After Conversion to Permanent Modification 

3 6 12 18 24 30 36 42

# 60+ Days 90+ Days # 60+ Days 90+ Days # 60+ Days 90+ Days # 60+ Days 90+ Days # 60+ Days 90+ Days # 60+ Days 90+ Days # 60+ Days 90+ Days # 60+ Days 90+ Days

2009 47,368 5.6% 1.6% 51,970 10.0% 6.0% 56,132 20.3% 15.7% 59,707 25.6% 22.5% 60,808 31.8% 28.6% 62,000 35.5% 33.1% 61,741 39.8% 37.3% 61,454 42.6% 40.9%

2010 415,340 4.4% 1.2% 464,500 10.4% 6.1% 503,684 19.1% 15.2% 509,920 26.0% 22.5% 520,319 30.7% 27.9% 517,909 35.0% 32.5% 512,598 38.5% 36.5% 341,275 42.1% 40.3%

2011 296,549 3.2% 1.0% 317,993 8.1% 4.9% 326,962 15.8% 12.5% 327,839 21.6% 18.7% 325,268 26.0% 23.6% 172,319 30.9% 28.7%

2012 180,130 2.8% 0.8% 186,129 6.9% 4.1% 188,367 13.1% 10.2% 95,062 18.6% 15.8%

Q1 2013 39,278 2.1% 0.6% 40,920 6.0% 3.4%

Q2 2013 31,585 2.6% 0.7% 33,052 6.4% 3.7%

Q3 2013 31,984 2.8% 0.9%

ALL 1,042,234 3.7% 1.1% 1,094,564 8.8% 5.2% 1,075,145 17.1% 13.5% 992,528 23.8% 20.6% 906,395 29.1% 26.4% 752,228 34.1% 31.7% 574,339 38.7% 36.6% 402,729 42.2% 40.4%

This table shows the performance of permanent HAMP modifications at 3, 6, 12, 18, 24, 30, 36 and 42 months of age and includes modifications that 

have aged at least 3, 6, 12, 18, 24, 30, 36 or 42 months, as applicable. For example: Of loans that became permanent in 2010, 10.4% were 60+ days 

delinquent at 6 months’ seasoning. 

• For permanent loans aged at least 3 months as of November 30, 2013, as reported by servicers through December 17, 2013. 

• 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 332,270 disqualified loans that have aged 3, 6, 12, 18, 24, 30, 36 or 42 months through the November activity period as reported by servicers through December 17, 2013. 

• Servicers are required to report monthly payment information on HAMP modifications in the form of an Official Monthly Report (OMR). Servicers did not submit 33,132 OMRs, or 3.6% of total required 

OMR’s for payments due November 1, 2013. 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 42 months may range between 39.5%-40.0%.

• 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.
Making Home Affordable: Summary Results

Program Performance Report Through December 2013

Quarterly Update on the Performance of Permanent Modifications (As of November 30, 2013)

9

The most significant factors driving HAMP modification performance are the amount of the reduction in the monthly payment, the length of the borrower’s 

delinquency at the start of the modification trial period, and the borrower’s credit score at the time of modification. 

Performance by Credit Score at the Time of Modification

Performance by Monthly Payment Reduction Performance by Delinquency at Trial Start

Payment reduction is strongly correlated with permanent modification 

sustainability. For modifications seasoned 24 months, only 15.9% of 

modifications with a monthly payment reduction greater than 50% have been 

disqualified due to missing three payments, compared to a disqualification rate 

of 41.2% where the payment had been cut by 20% or less.

Borrowers who were 31 to 90 days delinquent at the start of the HAMP trial 

period experienced a 24.4% re-default rate in the subsequent 24 months, 

compared to 30.7% for borrowers whose delinquency was between 121 and 

210 days at trial start.

Borrowers with credit scores between 580-619 at the time of modification 

experienced a 21.5% re-default rate in the subsequent 24 months, compared to 

a rate of 11.2% for borrowers whose credit scores were above 660.

Performance by Investor

Modifications of private label security loans have the highest delinquency rates, 

followed by modifications of portfolio loans and GSE loans.

0%

10%

20%

30%

40%

50%

60%

12 18 24 30 36 42

90+ Day Delinquency Rate

Months After Conversion to Permanent Modification

<=20% 20%-30% 30%-40% 40%-50% >50%

0%

10%

20%

30%

40%

50%

60%

12 18 24 30 36 42

90+ Day Delinquency Rate

Months After Conversion to Permanent Modification

<= 30 Days 31 - 90 Days 91 - 120 Days

121 - 210 Days > 210 Days

0%

10%

20%

30%

40%

50%

60%

12 18 24 30 36 42

90+ Day Delinquency Rate

Months After Conversion to Permanent Modification

< 580 580 - 619 620 - 660 > 660

0%

10%

20%

30%

40%

50%

60%

12 18 24 30 36 42

90+ Day Delinquency Rate

Months After Conversion to Permanent Modification

GSE Portfolio Private
Making Home Affordable: Program Results

Program Performance Report Through December 2013

HAMP Homeowner Benefits and First Lien Modification Characteristics

10

Aggregate payment savings to homeowners who received HAMP first lien permanent modifications are estimated to total approximately $24.8 billion, program to 

date, compared with unmodified mortgage obligations. The median monthly savings for homeowners in active permanent first lien modifications is $545.60, or 39% 

of the median monthly payment before modification. 

• Of all HAMP 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. 

• Of the Tier 2 trial modifications started, 7% were for non owner-occupied 

properties. 

Select Median Characteristics of Active Permanent Modifications

Loan Characteristic Before 

Modification

After 

Modification

Median 

Decrease

Front-End Debt-to-Income Ratio

 Tier 1 45.6% 31.0% -15.2 pct pts

 Tier 2 29.6% 23.3% -6.9 pct pts

Back-End Debt-to-Income Ratio

 Tier 1 69.3% 50.9% -15.4 pct pts

 Tier 2 46.2% 38.0% -6.9 pct pts

Median Monthly Housing Payment

 Tier 1 $1,413.25 $792.98 ($554.74)

 Tier 2 $1,127.92 $738.01 ($353.51)

Modification Steps of Active Permanent Modifications

Modification Step Tier 1 Tier 2

Interest Rate Reduction 96.1% 77.7%

Term Extension 63.5% 70.9%

Principal Forbearance 33.9% 29.2%

• The primary hardship reasons for homeowners in active permanent modifications 

are:

 68.5% experienced loss of income (curtailment of income or unemployment)

 10.3% reported excessive obligation

 3.5% reported an illness of the principal borrower

HAMP modifications follow a series of waterfall steps. The modification steps include 

interest rate adjustment, term extension and principal forbearance.

• Under Tier 1, servicers apply the modification steps in sequence until the 

homeowner’s post-modification front-end debt-to-income (DTI) ratio is 31%. The 

impact of each modification step can vary to achieve the target of 31%. 

• Under Tier 2, servicers apply consistent modification terms resulting in the 

homeowner’s post-modification DTI falling within an allowable target range.6 

Active permanent modifications reflect the following modification steps:

Homeowner Characteristics

• Tier 2 provides another modification opportunity for struggling homeowners who 

did not qualify for Tier 1 or received a Tier 1 trial or permanent modification but lost 

good standing. Of the Tier 2 trial modifications started:

 25% were previously in a Tier 1 trial or permanent modification.

 16% were previously evaluated for Tier 1 and did not meet eligibility 

requirements.

• The median gross monthly income of homeowners in the program is $3,862. 

• The median credit score of homeowners in the program is 576.
Making Home Affordable: Program Results

Program Performance Report Through December 2013

11

State

Active 

Trials

Active

Permanent 

Modifications

State 

Total

Active

% of U.S. 

HAMP 

Activity State

Active 

Trials

Active 

Permanent 

Modifications

State 

Total

Active

% of U.S. 

HAMP 

Activity

AK 25 420 445 0.0% MT 53 1,063 1,116 0.1%

AL 507 5,100 5,607 0.6% NC 1,309 16,470 17,779 1.8%

AR 193 1,945 2,138 0.2% ND 10 141 151 0.0%

AZ 987 34,068 35,055 3.6% NE 116 1,215 1,331 0.1%

CA 9,843 240,788 250,631 25.5% NH 258 4,021 4,279 0.4%

CO 635 12,948 13,583 1.4% NJ 2,563 29,857 32,420 3.3%

CT 1,049 12,084 13,133 1.3% NM 230 3,152 3,382 0.3%

DC 98 1,599 1,697 0.2% NV 975 19,518 20,493 2.1%

DE 190 2,741 2,931 0.3% NY 4,210 47,818 52,028 5.3%

FL 7,529 113,982 121,511 12.3% OH 1,675 19,180 20,855 2.1%

GA 1,995 32,626 34,621 3.5% OK 242 2,166 2,408 0.2%

HI 228 3,612 3,840 0.4% OR 512 10,434 10,946 1.1%

IA 177 2,114 2,291 0.2% PA 2,104 19,486 21,590 2.2%

ID 155 3,389 3,544 0.4% RI 328 4,390 4,718 0.5%

IL 3,039 47,507 50,546 5.1% SC 680 8,427 9,107 0.9%

IN 840 8,579 9,419 1.0% SD 26 301 327 0.0%

KS 179 2,142 2,321 0.2% TN 939 9,192 10,131 1.0%

KY 350 3,392 3,742 0.4% TX 2,429 25,638 28,067 2.9%

LA 541 5,221 5,762 0.6% UT 301 7,949 8,250 0.8%

MA 1,610 21,906 23,516 2.4% VA 1,233 21,837 23,070 2.3%

MD 2,174 29,236 31,410 3.2% VT 83 821 904 0.1%

ME 205 2,560 2,765 0.3% WA 1,180 19,822 21,002 2.1%

MI 1,302 26,563 27,865 2.8% WI 713 8,500 9,213 0.9%

MN 621 13,953 14,574 1.5% WV 83 1,214 1,297 0.1%

MO 786 8,873 9,659 1.0% WY 26 423 449 0.0%

MS 294 3,172 3,466 0.4% Other* 166 3,237 3,403 0.3%

HAMP Activity by State

* Other includes Guam, Puerto Rico and the U.S. Virgin Islands.

Metropolitan Statistical Area

Active 

Trials

Active 

Permanent

Mods

MSA Total 

Active

% of U.S. 

HAMP 

Activity

Median $ 

Payment 

Reduction 7

Median % 

Payment 

Reduction 7

Los Angeles-Long BeachSanta Ana, CA 3,416 78,099 81,515 8.3% $866.76 41%

New York-Northern New 

Jersey-Long Island, NY-NJ-PA 5,168 62,932 68,100 6.9% $889.20 43%

Miami-Fort LauderdalePompano Beach, FL 3,408 50,882 54,290 5.5% $579.88 45%

Chicago-Joliet-Naperville, ILIN-WI 2,917 46,183 49,100 5.0% $568.83 44%

Riverside-San BernardinoOntario, CA 1,674 45,362 47,036 4.8% $688.63 41%

Washington-ArlingtonAlexandria, DC-VA-MD-WV 1,770 30,778 32,548 3.3% $699.04 39%

Atlanta-Sandy SpringsMarietta, GA 1,487 26,274 27,761 2.8% $414.69 41%

Phoenix-Mesa-Glendale, AZ 644 26,977 27,621 2.8% $502.98 41%

San Francisco-OaklandFremont, CA 840 21,706 22,546 2.3% $925.78 40%

San Diego-Carlsbad-San 

Marcos, CA 705 17,589 18,294 1.9% $809.29 39%

Orlando-Kissimmee-Sanford, 

FL 927 16,335 17,262 1.8% $494.51 42%

Boston-Cambridge-Quincy, 

MA-NH 1,051 15,781 16,832 1.7% $685.70 39%

Las Vegas-Paradise, NV 782 15,883 16,665 1.7% $572.57 42%

Detroit-Warren-Livonia, MI 702 15,892 16,594 1.7% $425.05 42%

Philadelphia-CamdenWilmington, PA-NJ-DE-MD 1,406 14,882 16,288 1.7% $450.37 37%

15 Metropolitan Areas With Highest HAMP Activity

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

http://www.treasury.gov/initiatives/financial-stability/results/MHA-Reports/
Making Home Affordable: Program Results

Program Performance Report Through December 2013

12

Reaching Out to Homeowners

See page 11 for additional detail of activity by state and metropolitan statistical area.

90 Treasury-sponsored 

Outreach Events, through 

December 2013, covering 57

cities, giving more than 76,000

homeowners the opportunity 

to meet face-to-face with their 

mortgage company and HUDapproved housing counselors. 

In addition, Treasury has 

partnered with the Ad Council 

on three different public service 

advertising campaigns featured 

in both English and Spanish, 

encouraging struggling 

homeowners nationwide to 

reach out for help with their 

mortgages.

OVER 

9.9

MILLION

OVER 

4.1

MILLION

OVER

182 

MILLION

NEARLY

2.3

MILLION

Homeowners 

referred to free 

housing counseling 

from a HUDapproved housing 

expert.

Page views on 

MakingHome

Affordable.gov.

Calls taken 

at the 

Homeowner’s 

HOPE Hotline.

Solicitations of 

homeowners by 

participating 

mortgage 

servicers.

1

Number of Homeowner Events per State

2 3 or more

Total HAMP Modifications Active

5,000 and lower

5,001-10,000

10,000-20,000

20,001-30,000

30,001 and higher

5

3

3

3 4

3

3

16

15

6

6
Making Home Affordable: Servicer Results

Program Performance Report Through December 2013

13

Making Home Affordable Programs by Servicer

HAMP First Lien Modifications Principal Reduction Alternative 

(PRA)9

Second Lien 

Modification (2MP)

Home Affordable 

Foreclosure 

Alternatives (HAFA)10

Servicer Trials

Started8

Permanent 

Modifications 

Started8

Trials 

Started

Permanent 

Modifications 

Started

Second Lien 

Modifications 

Started

Non-GSE Transactions 

Completed

Bank of America, N.A. 245,197 111,837 9,689 8,184 35,302 44,641

CitiMortgage, Inc. 138,686 68,009 4,099 3,186 15,190 1,069

JPMorgan Chase Bank, N.A. 322,946 193,501 29,182 26,324 36,123 35,307

Nationstar Mortgage LLC 186,468 123,260 6,289 5,918 2,871 5,655

Ocwen Loan Servicing, LLC 370,289 264,043 66,505 53,328 N/A 13,877

Select Portfolio Servicing, Inc. 97,168 56,429 6,145 4,639 N/A 7,011

Wells Fargo Bank, N.A. 310,867 186,418 29,883 25,609 19,531 25,800

Other Servicers 480,092 308,061 9,613 8,000 16,498 13,600

Total 2,151,713 1,311,558 161,405 135,188 125,515 146,960

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

See Appendix for Terms and Methodology, Program Notes, End Notes and additional information on servicer participants in Making Home Affordable programs. 
Making Home Affordable: Servicer Results

Program Performance Report Through December 2013

Servicer 

Trial Plan 

Offers 

Extended11 

All HAMP 

Trials 

Started8

HAMP 

Permanent 

Modifications

Started8

Active Trial 

Modifications12

Active Trial 

Modifications 

Lasting 6 

Months or 

Longer12

Active 

Permanent 

Modifications

Total Active Modifications

GSE Private Portfolio Total

Bank of America, N.A. 585,708 245,197 111,837 5,343 1,174 75,546 23,847 41,092 15,950 80,889

CitiMortgage, Inc. 224,082 138,686 68,009 2,739 801 49,378 32,187 6,128 13,802 52,117

JPMorgan Chase Bank, 

N.A. 437,892 322,946 193,501 4,167 804 145,702 66,592 52,553 30,724 149,869

Nationstar Mortgage 

LLC 78,988 186,468 123,260 6,893 1,199 89,880 57,421 37,196 2,156 96,773

Ocwen Loan Servicing, 

LLC 302,528 370,289 264,043 14,386 2,153 182,015 39,017 141,942 15,442 196,401

Select Portfolio 

Servicing, Inc. 91,029 97,168 56,429 5,578 2,202 31,984 453 32,842 4,267 37,562

Wells Fargo Bank, N.A. 282,729 310,867 186,418 8,281 809 138,681 55,854 29,442 61,666 146,962

Other Servicers 379,868 480,092 308,061 10,609 1,818 213,606 169,683 22,386 32,146 224,215

Total 2,382,824 2,151,713 1,311,558 57,996 10,960 926,792 445,054 363,581 176,153 984,788

HAMP Modification Activity by Servicer and Investor Type

14
Making Home Affordable: Servicer Results

Program Performance Report Through December 2013

15

Servicer Outreach to HAMP Eligible 60+ Day Delinquent Homeowners: Cumulative Servicer Results, December 2012 – November 2013

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

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.

81% 85%

78%

59%

79%

59%

65%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Bank of America CitiMortgage JPMorgan Chase Nationstar Ocwen SPS Wells Fargo

62%

Right Party Contact Ratio HAMP Evaluations Complete Ratio

88%

91% 93%

87% 90%

83%

Source: Survey of largest participating servicers as of November 30, 2013. 
Making Home Affordable: Servicer Results

Program Performance Report Through December 2013

HAMP Average Homeowner Delinquency at Trial Start

0

50

100

150

200

250

300

Bank of America CitiMortgage JPMorgan Chase Nationstar Ocwen SPS Wells Fargo

Days Delinquent

16

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 October 1, 2011, 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 December 2013

90%

89% 91%

81%

85%

74%

92%

0%

25%

50%

75%

100%

Bank of America CitiMortgage JPMorgan Chase Nationstar Ocwen SPS Wells Fargo

Conversion Rate

HAMP Conversion Rate

17

Per program guidelines, effective June 1, 2010, all trials must be started using verified income documentation. Servicers have converted 

most eligible trials to permanent modifications. 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 modifications. 

Of eligible trials started on or after June 1, 2010, 88% have converted to permanent modifications* as of December 2013.

For trials started on or after June 1, 2010 the average length of a trial is 3.5 months. 

* With another 3% pending processing or decision.
Making Home Affordable: Servicer Results

Program Performance Report Through December 2013

Disposition Path of Homeowners Not in HAMP

Survey Data For Actions Completed Through November 201313 (Largest Servicers)

• HAMP guidance requires that 

servicers evaluate homeowners 

with eligible loans for HAMP, 

before considering other 

foreclosure alternatives.

• For those homeowners that did 

not qualify for HAMP or did not 

successfully complete the trial 

period, 58% received an 

alternative modification or 

resolved their delinquency.

18

• HAMP guidance requires that a servicer 

work with a delinquent homeowner in 

a permanent modification to cure the 

delinquency. 

• In the event the homeowner cannot 

bring a delinquent HAMP modification 

current without additional assistance, 

the servicer is prevented from 

commencing foreclosure proceedings 

until the borrower is evaluated for any 

other loss mitigation action.

• The majority of homeowners who 

disqualify from a HAMP permanent 

modification receive an alternative to 

foreclosure or resolve their 

delinquency.

• Of the homeowners who have 

disqualified from HAMP, less than a 

quarter have been referred to 

foreclosure. 

Servicer 

Totals 32,771 14,008 37,577 27,788 69,627 22,268 41,944 245,983

Servicer 

Totals 423,404 235,792 718,251 214,161 528,324 91,841 422,313 2,634,086

Status of Homeowners Not Accepted 

for a HAMP Trial or Those Whose 

HAMP Trial was Cancelled

Status of Homeowners Whose HAMP 

Permanent Modification Disqualified

3% 4% 4%

30%

5%

16%

2% 2% 6%

11%

2%

5%

2%

3%

5%

4%

25%

19% 36%

40%

18%

12%

30% 28%

22%

29%

27%

15%

50% 35% 27% 30%

17%

13%

14%

6%

7%

10% 11%

12%

3%

5%

4%

4%

7%

11%

7%

5%

28%

19%

12% 10% 12%

18% 15%

0%

20%

40%

60%

80%

100%

Bank of America CitiMortgage JPMorgan Chase Nationstar Ocwen SPS Wells Fargo Top Servicers

% of Trials Cancelled and Not Approved

9% 8% 11%

47%

13%

23%

6%

16%

4%

13% 3%

9%

4%

6%

9%

9% 6%

12%

10%

13%

13%

6%

6%

10%

26%

23% 37%

10%

45% 33%

47%

35%

23%

18%

19%

10%

6%

10% 10% 12% 7%

10%

7%

10%

12% 13%

4%

9%

22% 16% 13% 7% 10%

18% 12%

0%

20%

40%

60%

80%

100%

Bank of America CitiMortgage JPMorgan Chase Nationstar Ocwen SPS Wells Fargo Top Servicers

% of Permanent Modifications Disqualified

Action Pending: Includes homeowners who were not approved for a HAMP trial modification, trial loans that have been cancelled or permanent 

modifications that have been disqualified, but further action has yet to be taken at this time. 

Payment Plan: An arrangement with the borrower and servicer that does not involve a formal loan modification. 

Foreclosure 

Completions

Foreclosure 

Starts

Short Sale/

Deed in Lieu

Alternative 

Modification/

Payment Plan

Borrower 

Current/

Loan Payoff

Action Not 

Allowed –

Bankruptcy in 

Process

Action Pending
Making Home Affordable

Program Performance Report Through December 2013

HAMP Terms and Methodology:

Average Delinquency at Trial Start:

For all permanent modifications started, the average 

number of days delinquent as of the trial plan start 

date. Delinquency is calculated as the number of days 

between the homeowner's last paid installment before 

the trial plan and the first payment due date of the trial 

plan.

Back-End Debt-to-Income Ratio:

Ratio of total monthly debt payments (including 

mortgage principal and interest, taxes, insurance, 

homeowners association and/or condo fees, plus 

payments on installment debts, junior liens, alimony, 

car lease payments and investment property payments) 

to monthly gross income. Homeowners who have a 

back-end debt-to-income ratio of greater than 55% are 

required to seek housing counseling under program 

guidelines.

Conversion Rate:

Ratio of permanent modifications to trials eligible to 

convert, defined as 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. 

Disqualification:

A permanent modification disqualifies from HAMP 

when the borrower has missed the equivalent of three 

full monthly payments. Once disqualified, the borrower 

is no longer eligible to receive HAMP incentives. 

However, the terms of the permanent modification 

remain the same, and the servicer will continue to work 

with the borrower to cure the delinquency or identify 

other loss mitigation options.

Eligible Loans:

Homeowners with HAMP eligible loans, which include 

conventional loans that were originated on or before 

January 1, 2009; excludes loans with current unpaid 

principal balances greater than current conforming loan 

limits-current unpaid principal balance must be no 

greater than: $729,750 for a single-unit property, 2 

units: $934,200, 3 Units: $1,129,250, 4 Units: 

$1,403,400; FHA and VA loans; loans where investor 

pooling and servicing agreements preclude 

modification; and manufactured housing loans with 

title/chattel issues that exclude them from HAMP. 

Evaluation Complete: 

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.

Front-End Debt-to-Income Ratio:

Ratio of housing expenses (principal, interest, taxes, 

insurance and homeowners association and/or condo 

fees) to monthly gross income. 

Median Monthly Housing Payment:

Principal and interest payment. Before modification 

payment is homeowner’s current payment at time of 

evaluation.

RPC: 

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. 

Total Active:

Reflects active HAMP trials and permanent 

modifications.

Trial Plan Offers Extended:

Includes all HAMP mortgage modification requests 

approved where trial plan offers were sent to the 

borrowers, including multiple offers made on a loan. All 

Trial Plan Offers Extended do not become HAMP Trials 

Started because some borrowers do not accept the trial 

or fail to make the first trial payment.

Appendix A1: Terms and Methodology

19
Making Home Affordable

Program Performance Report Through December 2013

20

General MHA Program Notes:

• MHA Program Effective Dates:

HAMP First Lien: April 6, 2009

PRA: October 1, 2010

2MP: August 13, 2009

HAFA: April 5, 2010

• 1MP, PRA, Treasury FHA-HAMP, RD-HAMP, 2MP, 

and HAFA Program Metrics: Data includes activity 

reported into the HAMP system of record through 

the end of cycle for the current reporting month, 

though the effective date may occur in the following 

month.

MHA First Lien Program Notes:

• MHA First Lien Permanent Modifications Started 

includes: HAMP Tier 1, HAMP Tier 2, GSE Standard 

Modifications and both Treasury FHA- and RDHAMP. HAMP Tier 1 includes both GSE and Non-GSE 

modifications. The GSEs do no participate in HAMP 

Tier 2, however the GSE Standard Modification is 

similar to HAMP Tier 2. FHA-HAMP and RD-HAMP 

are similar to HAMP Tier 1. 

• GSE Standard Modification data is provided by 

Fannie Mae and Freddie Mac as of December 2013. 

The GSEs undertake other foreclosure prevention 

activities beyond their participation in MHA which is 

not reflected in this report. Per the Federal Housing 

Finance Agency’s Foreclosure Prevention Report for 

the Third Quarter of 2013, since 4Q 2008, the GSEs 

have completed nearly 1.5 million permanent 

modifications, which includes their activity under 

MHA. Please visit www.FHFA.gov for the complete 

FHFA report. 

Treasury FHA-HAMP Program Notes: 

• The FHA undertakes other foreclosure prevention 

activities beyond their participation in MHA which is 

not reflected in this report. As reported in the 

January 2014 edition of the Obama Administration’s 

Housing Scorecard, FHA has offered close to 2.2 

million loss mitigation and early delinquency 

interventions through December 31, 2013 since 

April 1, 2009, which includes their activity under 

MHA.

2MP Program Notes:

• Number of modifications started is net of 

cancellations, which are primarily due to servicer 

data corrections.

• 2MP loans previously reported under top servicers 

that were transferred to or acquired by nonparticipating 2MP servicers are reflected in “Other 

Servicers.”

• Borrowers with an active 1MP permanent 

modification who have also received a 2MP 

modification realize a higher monthly payment 

reduction on their first lien compared to the overall 

population of 1MP borrowers as the median first 

lien unpaid principal balance is higher.

HAFA Program Notes:

• Unless otherwise noted, HAFA Transactions 

Completed includes GSE activity under the MHA 

program in addition to the GSE Standard HAFA 

program implemented in November 2012. GSE 

Standard HAFA data provided by Fannie Mae and 

Freddie Mac as of December 2013. It does not 

include other GSE short sale and deed-in-lieu 

activity outside the HAFA program. Per the Federal 

Housing Finance Agency’s Foreclosure Prevention 

Report for the Third Quarter of 2013, since 4Q 2008 

the GSEs have completed over 530,000 short sales 

and deed-in-lieu of foreclosure actions, which 

includes their activity under MHA. Please visit 

www.FHFA.gov for the complete FHFA report. 

• The debt relief represents the obligation relieved by 

the short sale or deed-in-lieu transaction and is 

calculated as the unpaid principal balance and 

allowable transactions costs less the property sales 

price. The allowable transaction costs may include 

release of any subordinate lien, borrower relocation 

assistance, sales commission, and closing costs for 

taxes, title, and attorney fees.

PRA Program Notes:

• Eligible loans include those receiving evaluation 

under HAMP PRA guidelines plus loans that did not 

require an evaluation but received principal 

reduction on their modification.

UP Program Notes: 

• Data is as reported by servicers via survey for UP 

participation through November 30, 2013.

Appendix A2: General Program Notes
Making Home Affordable

Program Performance Report Through December 2013

SUMMARY AND PROGRAM RESULTS:

1. This does not include trial modifications that have 

cancelled or not yet converted to permanent 

modifications, or HAFA transactions started but 

not yet completed.

2. Servicers may enter new trial modifications into 

the HAMP system of record at any time.

3. Includes some modifications with additional 

principal reduction outside of HAMP PRA.

4. Under HAMP PRA, principal reduction vests over a 3-year period. The amounts noted reflect the 

entire amount that may be forgiven.

5. Principal amount reduced as a percentage of 

before-modification UPB, excluding capitalization.

6. Subject to investor restrictions. Effective February 

1, 2013, Supplemental Directive 12-09 expanded 

the acceptable DTI range for Tier 2 to 10-55%.

7. For active permanent modifications. Median % 

reflects percent of the median monthly payment 

before modification.

SERVICER RESULTS:

8. As reported into the HAMP system of record by 

servicers. Excludes Treasury FHA-HAMP 

modifications. Totals reflect impact of servicing 

transfers. Servicers may enter new trial 

modifications into the HAMP system of record at 

any time.

9. While both GSE and non-GSE loans are eligible for 

HAMP, at the present time due to GSE policy, 

servicers can only offer PRA on non-GSE 

modifications under HAMP. Servicer volume can 

vary based on the investor composition of the 

servicer’s portfolio and respective policy with 

regards to PRA. 

10. Includes Non-GSE activity under the MHA program 

only. Servicer GSE program data not available.

11. As reported in the monthly servicer survey of large 

SPA servicers through December 31, 2013. Figures 

do not reflect the impact of servicing transfers.

12. These figures include trial modifications that have 

been converted to permanent modifications, but 

not reported as such in the HAMP system of 

record. Additionally, servicers may process 

cancellations of permanent modifications for 

reasons, including but not limited to, data 

corrections, loan repurchase agreements, etc. This 

process requires reverting the impacted 

permanent modifications to trials in the HAMP 

system of record with re-boarding of some of 

these permanent modifications in subsequent 

reporting periods. Prior to being re-boarded as 

permanent modifications, these modifications are 

reported as Active Trials. These modifications may 

be 6 months or more beyond their first trial 

payment due date resulting in their classification 

as an Aged Trials. As a result, fluctuations are 

expected in this population.

13. Data is as reported by servicers for actions 

completed through November 30, 2013 and 

reflects the status of homeowners as of that date; 

a homeowner's status may change over time. 

Survey data is not subject to the same data quality 

checks as data uploaded into the HAMP system of 

record. Excludes cancellations and 

disqualifications pending data corrections and 

loans otherwise removed from servicing 

portfolios.

Appendix A3: End Notes

21
Making Home Affordable

Program Performance Report Through December 2013

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

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

Glass City Federal Credit Union

Great Lakes Credit Union

Greater Nevada Mortgage Services

Green Tree Servicing LLC

Hartford Savings Bank

Hillsdale County National Bank

HomEq Servicing

Horicon Bank

IC Federal Credit Union

Idaho Housing and Finance Association

iServe Residential Lending LLC

iServe Servicing Inc.

JPMorgan Chase Bank, N.A.2

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, LLC3

OneWest Bank

ORNL Federal Credit Union

Pathfinder Bank

PennyMac Loan Services, LLC

PNC Bank, National Association

PNC Mortgage4

Purdue Employees Federal Credit 

Union

QLending, Inc.

Quantum Servicing Corporation

Residential Credit Solutions

RG Mortgage Corporation

RoundPoint Mortgage Servicing 

Corporation

Schools Financial Credit Union

Select Portfolio Servicing, Inc.

Servis One Inc., dba BSI Financial 

Services, Inc.

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.5

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 JPMorgan Chase Bank, N.A. includes all loans previously reported under EMC Mortgage Corporation. 3 Ocwen Loan Servicing, LLC includes loans previously reported under Litton Loan Servicing LP, 

Homeward Residential, Inc., GMAC Mortgage, LLC and also reflects recent acquisitions from OneWest

Bank.

4 Formerly National City Bank.

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

Appendix A4: Non-GSE Participants in HAMP

22
Making Home Affordable

Program Performance Report Through December 2013

Second Lien Modification Program (2MP)

Bank of America, N.A.1

Bayview Loan Servicing, LLC 

CitiMortgage, Inc.

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. 

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 

Gateway Mortgage Group, 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, LLC5

PennyMac Loan Services, LLC 

PNC Mortgage3

Residential Credit Solutions 

Schmidt Mortgage Company 

Select Portfolio Servicing, Inc.

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 

Green Tree Servicing, LLC

JPMorgan Chase Bank, N.A.2

Nationstar Mortgage LLC 

PNC Bank, National Association 

PNC Mortgage 3

Residential Credit Solutions 

Select Portfolio Servicing, Inc.

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 loans previously reported under Litton Loan Servicing LP and GMAC 

Mortgage, LLC and also reflects recent acquisitions from OneWest Bank.

Appendix A5: Participants in Additional Making Home Affordable Programs

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