Making Home Affordable Program

Servicer Performance Report Through July 2010

HA

Ch

MoSeDisCa

Dis

of 

for 

SeHoHAHA

MoLis

DeCo

In

Report HighlightsNearly 37,000 New Permanent Modifications in July• Homeowners in permanent modifications are experiencing a median payment reduction of 

36%, more than $500 per month.

• Homeowners in permanent modifications are guaranteed lower payments for five years, 

then fixed terms at current rates for the life of the loan. 

• Trial modification starts were lower, as expected, as servicers transition to upfront 

verification of documentation.

Servicers Continue to Work Through Aged Trial Population• As servicers continue to review aged trials, the number of active trials initiated at least six 

months ago has decreased from 166,000 to 118,000. Two servicers account for half of the 

aged trials that have yet to be decisioned. Homeowners are not subject to foreclosure sale while decisions are being made. 

• As servicers work through this population, they are making extensive efforts to obtain 

documentation. Servicers indicate that the remaining decisions on aged trial modifications 

should be made in August. 

• The most common causes of cancellations include insufficient documentation, missed trial 

payments, or mortgage payments already less than 31% of the homeowner’s income.

• Servicers reported that more than half of homeowners in canceled trials receive alternative 

modifications, become current, or pay off the loan completely.

• As a result of the requirement that servicers verify borrower eligibility through documentation 

prior to initiating trials on or after June 1, cancellation activity for new trials is expected to gradually decline. However, the number of new cancellations is expected to exceed the 

number of new permanent modifications for the next few months as servicers clear their backlog of aged trials.

New Outreach Initiatives Launched to Educate Homeowners• Treasury and HUD partnered with the Ad Council in a public service advertising campaign 

featuring homeowners who received HAMP modifications.

• The advertisements, launched in late July, are being distributed to more than 33,000 media 

outlets nationwide. The advertisements are available in English and Spanish.
Making Home Affordable Program

Servicer Performance Report Through July 2010

HAMP Activity: All Servicers

Total

HAMP Eligibility

Eligible Delinquent Loans1 3,076,060

Eligible Delinquent Borrowers2 1,456,363

TrialModifications

Trial Plan Offers Extended3 1,553,925

All Trials Started 1,307,489

Trials Reported Since June 2010 Report4 24,577

Trial Modifications Canceled (Cumulative) 616,839

Active Trials 255,934

Permanent Modifications

All Permanent Modifications Started 434,716

Permanent Modifications Begun SinceJune 2010 Report 36,695Permanent Modifications Canceled

(Cumulative)5 12,912

Active Permanent Modifications 421,804

1 Estimated eligible 60+ day delinquent loans as reported by servicers as of June 30, 2010, 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.

For servicers enrolling after May 1, 2010 that did not participate in the 60+ day delinquency survey, the delinquency

count is from the servicer registration form. 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, manufactured housing loans with title/chattel issues that exclude them from

HAMP, and loans where the investor pooling and servicing agreements preclude modification. Exclusions for DTI

and NPV results are estimated using market analytics. 3 As reported in the weekly servicer survey through July 29, 2010. 4 Servicers may enter new trial modifications into the HAMP system of record anytime before the loan convertsto a

permanent modification. 5 A permanent modification is canceled when the borrower has missed three or more consecutive monthly payments.

Includes 272 loans paid off.

HAMP Trials 

Permanent Modific

55,121

164,800

284,443

429,460

564,328

0

200,000400,000600,000800,000

1,000,0001,200,0001,400,000

May

and

Prior

June July Aug Sep 

4,742 15,649 31,424

66,938

0

100,000200,000300,000400,000500,000

Sep and

Earlier

Oct Nov Dec 

Source: HAMP system of record. Note: Servicers may enter new trial modifications in

permanent modification.

Source: HAMP system of record.
Making Home Affordable Program

Servicer Performance Report Through July 2010

• Aggregate reductions in monthly mortgage payments for borrowers in active trial and permanent modifications total more than $3.1 billion.• The median savings for borrowers in permanent modifications is $513.09, or 36% of the median payment before modification. 

Interest Rate Reduction 100%Term Extension 56.8%Principal Forbearance 29.3%

2.9%

11.2

0% 2

Illness of Principal

Borrower

Excessive

Obligation

Loss of Income

Loan Characteristic

Before 

Modification

After 

Modification

Median 

Decrease

Front-End Debt-to-Income Ratio1 44.8% 31.0% ‐13.8 pct pts

Back-End Debt-to-Income Ratio2 79.7% 63.5% ‐14.4 pct ptsMedian Monthly Payment3 $1,426.13 $839.16 ‐$513.09

1 Includes borrowers who are employed b

those who have lost their jobs.Note: Does not include 17.3% of permane

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. 

1

Modification Characteristics

Loan Statu

Permanent Modifications by Modification Step

Select Median Characteristics of Permanent Modifications

Predominant Hardship R

In De

at T

Sta

76.

Note: For all trial modifications started. “At Risk of Default” includes borrowers those in imminent default. “In Default” rNote: Data on the performance modifications, included in the Juwill be published quarterly. 
Making Home Affordable Program

Servicer Performance Report Through July 2010

90%

81% 80%

70% 68%

66% 63% 60

0%

25%50%75%

100%

Trial Length atConversion(months):

3.1 3.0 4.7 3.0 4.2 3.3 3.1 3

Servicer 

Estimated 

Eligible 60+ Day

Delinquent

Borrowers1 

Trial Plan 

Offers 

Extended2

All HAMP Trials 

Started3

Active Trial 

Modifications3

Permanent 

Modifications3

American Home Mortgage Servicing Inc 48,122 25,862 21,894 9,992 10,761

Aurora Loan Services, LLC 35,216 47,768 44,243 4,434 13,823

Bank of America, NA4 416,879 408,019 312,318 84,741 76,330

Carrington Mortgage ServicesLLC 3,529 3,743 3,110 751 2,109

CitiMortgage, Inc. 127,618 158,499 148,274 20,458 44,276

GMAC Mortgage, Inc. 16,570 58,817 48,203 2,777 29,636

Green Tree Servicing LLC 5,949 7,431 6,432 1,686 2,800

HomEq Servicing 14,564 7,048 6,107 1,419 4,403J.P. Morgan Chase Bank, NA5 215,640 263,553 208,270 37,586 58,489

Litton Loan Servicing LP 47,451 37,194 34,808 2,783 8,447Nationstar Mortgage LLC 17,677 26,188 22,763 3,885 9,170Ocwen Financial Corp. Inc. 31,440 26,269 28,144 5,991 17,403

OneWest Bank 42,697 61,249 44,635 15,141 17,334

PNC Mortgage6 17,742 22,128 18,036 1,915 3,009

Saxon Mortgage Services, Inc. 24,211 45,202 34,774 3,206 10,815

Select Portfolio Servicing 17,392 61,988 38,011 2,516 15,808

US Bank NA 12,421 13,873 11,630 1,946 7,128Wachovia Mortgage, FSB7 27,571 16,606 14,388 8,650 5,539

Wells Fargo Bank, NA8 156,332 247,638 177,267 22,338 46,732

Other SPA servicers9 11,592 14,850 13,719 3,754 7,153

Other GSE Servicers10 165,750 NA 70,463 19,965 30,639Total 1,456,363 1,553,925 1,307,489 255,934 421,804

1 Estimated eligible 60+ day delinquent borrowers as reported by 

servicers as of June 30, 2010, include those in conventional loans: 

 in foreclosure and bankruptcy. with a current unpaid principal balance less than $729,750 on a 

one-unit property, $934,200 on a two-unit property, $1,129,250 on a three-unit property and $1,403,400 on a four-unit property.

 on a property that was owner-occupied at origination. originated prior to January 1, 2009.

Estimated eligible 60+ day delinquent borrowers excludes: 

 Those in FHA and VA loans. Those in loans that are current or less than 60 days delinquent, 

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

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

negative NPV test,

 Owners of vacant properties or properties otherwise excluded.Exclusions for DTI and NPV are estimated using market analytics.

For servicers enrolling after May 1, 2010 that did not participate in the 60+ 

day delinquency survey, the delinquency count is from the servicer registration form. 2 As reported in the weekly servicer survey through July 29, 2010.

3 Active trial and permanent modifications as reported into the HAMP 

system of record by servicers. Subject to adjustment based on servicer reconciliation of historic loan files. 

4 Bank of America, NA includes Bank of America, NA, BAC Home Loans 

Servicing LP, Home Loan Services and Wilshire Credit Corporation.

5 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation.6 Formerly National City Bank.7 Wachovia Mortgage, FSB consists of Pick-a-Payment loans.8 Wells Fargo Bank, NA includes a portion of the loans previously 

included in Wachovia Mortgage, FSB. 

9 Other SPA servicers are entities with less than 5,000 estimated eligible 

60+ day delinquent borrowers as of March 31, 2010, that have signed participation agreements with Treasury and Fannie Mae. A full list of participating servicers is in Appendix A.

10 Includes servicers of loans owned or guaranteed by Fannie Mae and 

Freddie Mac. Includes GSE loans transferred from SPA servicers.

Aged Trials1 

68% 66%65% 63%

57%

52% 49% 4

0%

20%40%60%80%

HAMP Modification Activity by Servicer Co

1 Active trials initiated at least six months ago. 

1 As measured against trials eligible to convert – those three months 2 Per program guidelines, all servicers must be using verified income 

income information.•Other SPA and Other GSE servicers represent a mix of verified and stPermanent modifications transferred among servicers are credited to 

1moM
Making Home Affordable Program

Servicer Performance Report Through July 2010

Disposition Path 

Homeowners in Canceled HAMP Trial Modifications

Through June 2010 (8 Largest Servicers) 1

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

Servicer

Action

Pending2

Action Not

Allowed –

Bankruptcy

in Process

Borrower

Current

Alternative

Modification

Payment

Plan3 Loan Payoff

Short Sale/

Deed in

Lieu

Foreclosure

Starts

Foreclosure

Completions

American HomeMortgage Servicing Inc. 137 15 59 373 10 164 17 68 3 

Bank of America, NA4 75,276 2,383 3,868 26,307 812 555 1,400 3,564 824 

CitiMortgage Inc. 18,992 7,019 8,414 33,948 1,197 260 1,146 5,953 573 GMAC Mortgage Inc. 2,119 287 1,026 6,455 132 394 341 1,196 392 

JP Morgan Chase Bank

NA5 12,503 300 1,033 44,086 71 1,141 1,313 11,977 2,062 

Litton Loan Servicing LP 3,099 386 1,439 12,893 313 85 697 2,313 342 

OneWest Bank 2,017 243 223 4,626 50 9 440 1,032 622 

Wells Fargo Bank NA6 9,251 512 8,212 57,469 669 2,069 4,019 14,128 2,658 

TOTAL(These 8 Servicers)

123,394

30.1%

11,145

2.7%

24,274

5.9%

186,157

45.4%

3,254

0.8%

4,677

1.1%

9,373

2.3%

40,231

9.8%

7,476

1.8%

Note: Data is as reported by servicers for actions completed through June 30, 2010. 1 As defined by cap amount.2 Trial loans that have been canceled, but no further action has yet been taken. 3 An arrangement with the borrower and servicer that does not involve a formal loan modification. 4 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation.5 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation.6 Wells Fargo Bank, NA includes a portion of the loans previously included in Wachovia Mortgage, FSB. Excludes Wachovia Mortgage FSB Pick-a-Payment Loans. 

Note: Excludes cancellations pending data corrections.
Making Home Affordable Program

Servicer Performance Report Through July 2010

Disposition Path 

Homeowners Not Accepted for HAMP Trial Modificatio

Through June 2010 (8 Largest Servicers) 1

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

Servicer

Action

Pending2

Action Not

Allowed –

Bankruptcy

in Process

Borrower

Current

Alternative

Modification

Payment

Plan3 Loan Payoff

Short Sale/

Deed in

Lieu

Foreclosure

Starts

Foreclosure

Completions

American HomeMortgage Servicing Inc. 1,198 253 1,992 13,962 381 225 1,038 2,236 18 

Bank of America, NA4 26,130 2,307 2,358 8,759 784 307 9,388 16,686 2,310 

CitiMortgage Inc. 17,111 6,920 3,975 35,202 5,583 10,597 1,849 10,640 4,265 

GMAC Mortgage Inc. 19,832 3,256 19,348 26,945 2,891 3,374 2,654 12,573 3,549 

JP Morgan Chase Bank

NA5 25,382 1,441 68,448 52,007 241 6,155 2,247 8,928 1,374 

Litton Loan Servicing LP 7,573 3,144 6,618 9,608 1,093 280 2,943 7,085 1,908 OneWest Bank 8,363 1,433 5,440 4,465 480 127 2,534 4,012 4,115 

Wells Fargo Bank NA6 13,253 1,054 20,497 40,239 1,706 2,665 3,470 12,673 4,931 

TOTAL(These 8 Servicers)

118,842

19.2%

19,808

3.2%

128,676

20.8%

191,187

30.9%

13,159

2.1%

23,730

3.8%

26,123

4.2%

74,833

12.1%

22,470

3.6%

Note: Data is as reported by servicers for actions completed through June 30, 2010. 1 As defined by cap amount.2 Homeowners who were not approved for a HAMP trial modification, but no further action has yet been taken. 3 An arrangement with the borrower and servicer that does not involve a formal loan modification. 4 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation.5 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation.6 Wells Fargo Bank, NA includes a portion of the loans previously included in Wachovia Mortgage, FSB. Excludes Wachovia Mortgage FSB Pick-a-Payment Loans. 
Making Home Affordable Program

Servicer Performance Report Through July 2010

Homeowner Outreach Events Hosted Nationally by Treasury and Partners (cumulative) 42Homeowners Attending Treasury-Sponsored Events (cumulative) 43,973Servicer Solicitation of Borrowers (cumulative)1 5,511,941

Page views on MakingHomeAffordable.gov

(July 2010) 2,836,592Page views on MakingHomeAffordable.gov (cumulative) 92,804,552

Percentage to Goal of 3-4 Million Modification Offers by 20122 39-52%

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. 2 In 2009, Treasury set a goal of offering help to 3-4 million borrowers through the end of 2012.

Total Number of Calls Taken at HOPE (since program inceptionBorrowers Receiving Free HouThrough the Homeowner’s HOP

Selected Homeowner Outreach Measures Call 

Source: Homeowner’s HOPETM Hotline.

Location of Events Hosted by Treasury and Partners

Note: From program launch through July 2010. Some markets have been visited more than once.

Miami, FLSacramento, CANorth Las Vegas, NVPhoenix, AZChicago, ILPrince William County, VAPrince George's County, MDBoston, MATampa, FLStockton, CAPhiladelphia, PACincinnati, OHSan Diego, CARiverside, CAAtlanta, GASt Louis, MODallas/Ft Worth, TXJacksonville, FLOrlando/Kissimmee, FLLos Angeles, CAFt Myers, FLEvent Locations (Listed 
Making Home Affordable Program

Servicer Performance Report Through July 2010

2%3%4%5%6%7%

JP Morgan

Chase NA

Litton OneWest 

% of Calls for Specific Servicer

That Are Complaints

Source: Homeowner’s HOPETM Hotline.

Note: Complaint rate is the share of a specific servi

6.0% included complaints.) The HOPETM Hotline im

The result of this procedural change is an increase 

escalated prior to identifying the servicer involved.

Homeowner Experience (8 Largest Servicers)*

Average Speed to Answer Homeowner Calls (June)

0

102030405060708090

100

Bank of

America NA

OneWest GMAC JP Morgan

Chase NA

Litton Am. Home

Servicing

Wells Fargo CitiMortgage

Seconds

Homeowner’s HOPETM

Hotline Average for June: 

2.7 Seconds

Call Abandon Rate (June)

0%1%2%3%4%5%6%7%

Bank of

America

Litton JP Morgan

Chase NA

GMAC Am. Home

Servicing

OneWest Wells Fargo CitiMortgage

Homeowner’s HOPETM

Hotline Average for June: 

1.5%

Source: Survey data through June 30, 2010, from servicers on call volume to loss mitigation lines.

Source: Survey data through June 30, 2010, from servicers on call volume to loss mitigation lines.

Program to date, there have been Hotline regarding a specific SPA sBelow shows specific complaint ra

Servicer Time to Resolve (Program to Date, Throu

0

1020304050

JP Morgan

Chase NA

Bank of

America NA

OneWest 

Resolved: 937 1,350 252 

Cases (PTD)

Calendar Days

Source: HAMP Solutions Center. Target of 25 calen

*As defined by cap amount. processing by HAMP Solutions Center.

Servicer Complaint Rate to H

(Program to Date, Through J
Making Home Affordable Program

Servicer Performance Report Through July 2010

Note: Includes active trial and permanemodifications from the official HAMP syrecord.

Source: Mortgage Bankers Association. Data is as of 1stQuarter 2010 and is latest available.

State

Active

Trials

Permanent 

Modifications Total

% of 

Total State

Active

Trials

Permanent 

Modifications Total

% of 

Total 

AK 115 178 293 0.0% MT 328 456 784 0.1%

AL 1,645 2,545 4,190 0.6% NC 4,709 8,109 12,818 1.9%AR 588 1,053 1,641 0.2% ND 49 78 127 0.0%AZ 11,784 22,213 33,997 5.0% NE 327 591 918 0.1%

CA 60,066 94,356 154,422 22.8% NH 1,114 2,019 3,133 0.5%

CO 3,329 6,124 9,453 1.4% NJ 8,421 13,793 22,214 3.3%CT 3,156 5,505 8,661 1.3% NM 879 1,340 2,219 0.3%

DC 463 699 1,162 0.2% NV 7,043 11,288 18,331 2.7%

DE 749 1,383 2,132 0.3% NY 12,774 17,613 30,387 4.5%

FL 31,206 50,687 81,893 12.1% OH 5,561 9,559 15,120 2.2%

GA 9,285 15,521 24,806 3.7% OK 680 1,005 1,685 0.2%

HI 984 1,562 2,546 0.4% OR 2,747 4,700 7,447 1.1%

IA 682 1,090 1,772 0.3% PA 5,410 8,855 14,265 2.1%

ID 972 1,612 2,584 0.4% RI 1,175 2,229 3,404 0.5%

IL 13,223 22,627 35,850 5.3% SC 2,338 4,190 6,528 1.0%

IN 2,434 4,279 6,713 1.0% SD 122 153 275 0.0%KS 643 1,039 1,682 0.2% TN 2,552 4,529 7,081 1.0%KY 1,001 1,639 2,640 0.4% TX 8,213 10,563 18,776 2.8%LA 1,417 2,120 3,537 0.5% UT 2,299 3,922 6,221 0.9%

MA 5,849 10,637 16,486 2.4% VA 6,122 10,660 16,782 2.5%

MD 8,066 14,184 22,250 3.3% VT 182 359 541 0.1%

ME 676 1,186 1,862 0.3% WA 4,919 8,296 13,215 1.9%

MI 8,117 14,525 22,642 3.3% WI 2,406 4,284 6,690 1.0%MN 3,947 8,360 12,307 1.8% WV 344 682 1,026 0.2%

MO 2,790 4,728 7,518 1.1% WY 141 209 350 0.1%MS 861 1,622 2,483 0.4% Other* 1,031 848 1,879 0.3%

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

60+ 

HAMP Activity by State Modific

Mortgage D
Making Home Affordable Program

Servicer Performance Report Through July 2010

Servicer 

Bank of America, NA1 

JP Morgan Chase NA2 

Wells Fargo Bank, NA 3 CitiMortgage, Inc. 

OneWest Bank GMAC Mortgage, Inc. 

Ocwen Financial Corporation, In

American Home Mortgage Servicing Inc Select Portfolio Servicing Aurora Loan Services, LLC 

Wachovia Mortgage, FSB4 

Saxon Mortgage Services Inc. 

Nationstar Mortgage LLC 

Litton Loan Servicing LP 

US Bank NA HomEq Servicing PNC Mortgage5 

Green Tree Servicing LLC 

Carrington Mortgage Services LLRemainder of HAMP Servicers 

Total 

1 Bank of America, NA includes Bank of America

Wilshire Credit Corporation.

2 J.P. Morgan Chase Bank, NA includes EMC Mo3 Wells Fargo Bank, NA includes a portion of the 4 Wachovia Mortgage, FSB consists of Wachovia 5 Formerly National City Bank.Note: Figures reflect active trials and perm

Metropolitan Statistical Area

Active

Trials

Permanent

Modifications

Total 

HAMP 

Activity

% of All 

HAMP 

Activity

Los Angeles-Long Beach-Santa Ana, CA 17,904 26,713 44,617 6.6%New York-Northern New JerseyLong Island, NY-NJ-PA 16,678 24,615 41,293 6.1%Riverside-San Bernardino-Ontario, CA 12,691 22,478 35,169 5.2%Chicago-Naperville-Joliet, IL-IN-WI 12,734 21,842 34,576 5.1%

Miami-Fort Lauderdale-Pompano Beach, FL 12,786 18,923 31,709 4.7%Phoenix-Mesa-Scottsdale, AZ 9,735 18,409 28,144 4.2%

Washington-Arlington-Alexandria, DC-VA-MD-WV 8,542 15,035 23,577 3.5%

Atlanta-Sandy Springs-Marietta, GA 7,510 12,621 20,131 3.0%Las Vegas-Paradise, NV 5,866 9,242 15,108 2.2%

Detroit-Warren-Livonia, MI 5,059 8,797 13,856 2.0%

Orlando-Kissimmee, FL 4,898 8,448 13,346 2.0%

Boston-Cambridge-Quincy, MA-NH 4,148 7,570 11,718 1.7%

Sacramento-Arden-ArcadeRoseville, CA 4,045 7,194 11,239 1.7%

San Francisco-Oakland-Fremont,CA 4,912 6,327 11,239 1.7%

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 4,143 7,023 11,166 1.6%

A complete list of HAMP activity for all MSAs is available athttp://www.financialstability.gov/docs/MSA%20Data%20July%202010.pdf

15 Metropolitan Areas With Highest HAMP Activity Modifications by In
Making Home Affordable Program

Servicer Performance Report Through July 2010

Allstate Mortgage Loans

& Investments, Inc.

American Eagle Federal Credit Union

American Home Mortgage Servicing, Inc

AMS Servicing, LLCAurora Loan Services, LLCBank of America, N.A.1

Bank UnitedBay Federal Credit Union

Bay Gulf Credit Union

Bayview Loan Servicing, LLC

Carrington Mortgage Services, LLC

CCO MortgageCentral Florida Educators Federal Credit Union

Central Jersey Federal Credit Union

Chase Home Finance, LLC

CitiMortgage, Inc.

Citizens 1st National Bank

Citizens First Wholesale Mortgage Company

Community Bank

& Trust Company

CUC Mortgage Corporation

DuPage Credit Union

Eaton National Bank

& Trust Co

Farmers State BankFidelity Homestead Savings Bank

First BankFirst Keystone Bank

First National Bank of Grant Park

Franklin Credit Management Corporation

Fresno County Federal Credit UnionGlass City Federal Credit Union

GMAC Mortgage, Inc.

Golden Plains Credit Union

Grafton Suburban Credit UnionGreat Lakes Credit UnionGreater Nevada Mortgage Services

Green Tree Servicing LLCHartford Savings BankHillsdale County National BankHomEq ServicingHomeStar Bank

& Financial Services

Horicon BankHorizon Bank, NA

IberiabankIBM Southeast Employees' Federal Credit Union

IC Federal Credit Union

Idaho Housing and Finance Association

iServe Residential Lending LLCiServe Servicing Inc.

J.P.Morgan Chase Bank, NA2

Lake City BankLake National Bank

Litton Loan Servicing

Los Alamos National Bank

Marix Servicing, LLCMetropolitan National BankMidwest Bank

& Trust Co.

Mission Federal Credit UnionMorEquity, Inc.Mortgage Center, LLCMortgage Clearing Corporation

National City Bank

Nationstar Mortgage LLCNavy Federal Credit UnionOakland Municipal Credit Union

Ocwen Financial Corporation, Inc.

OneWest BankORNL Federal Credit UnionPark View Federal Savings BankPennyMac Loan Services, LLCPNC Bank, National Association

PurduQLenQuan

ResidRG MRoebRounSaxon 

SchooSEFCUSelec

Servis ShoreSilver 

Sound 

Speci

Spirit StanfSterli

TechnTempThe G

U.S. B

Unite

Unite

Urban VantiVerity 

Vist FWells 

WealtWesc

Yadki

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

LP, Home Loan Services and Wilshire Credit Corporation. 2 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation. 

3 Wells Fargo Bank, NA includes Wachovia Mortgage FSB and Wachovia Bank NA. Appendix A: Non-GSE Participants in HAMP
Making Home Affordable Program

Servicer Performance Report Through July 2010

Note: Servicer‐specific compliance data will be reported

quarterly.Description of Compliance Activities

Freddie Mac, serving as Compliance Agent for Treasury’s

Home Affordable Modification Program (HAMP), has

created a separate division known as Making Home

Affordable ‐ Compliance (MHA‐C). Using a risk‐basedapproach, MHA‐C conducts a number of different types of

compliance activities to assess servicer compliance with

HAMP guidelines, as described below.

On Site Reviews: Readiness

& Governance – A review

performed by MHA‐C to assess the servicer’s preparedness

for complying with new/future HAMP requirements, or to

research a trend or potential implementation risk. Reviews

are performed as needed, determined by frequency of new

program additions.NPV – A review conducted by MHA‐C to determine the

servicer’s adherence to the HAMP NPV guidelines. For

those servicers that have elected to recode the NPV model

into their own systems (recoders), the testing process is

designed to ensure the servicer’s NPV model is accurately

calculating NPV and that the model usage is consistent with

directives. At a minimum, recoders are subject to quarterly

off‐site testing and semi‐annual for on‐site reviews. For

servicers using the Treasury NPV Web Portal, reviews of

data submissions are performed on a monthly basis.

On Site Reviews: Implementation – A review conducted by

MHA‐C covering the servicer’s overall execution of the

HAMP program. Areas covered include, among other

things, solicitation, eligibility, underwriting, document

management, payment processing, reporting, and

governance. Reviews are performed at a minimum for

larger servicers on a semi‐annual schedule and for smaller

servicers on an annual schedule.

Loan File Review – A review performed by MHA‐C of a

servicer’s non‐performing loan portfolio primarily to assess

completeness of relevant documentation and appropriate

loan modification decisioning. This includes reviews of

loans which have successfully converted to a permanent

modification to ensure they meet the HAMP guidelines, as

well as loans that have not been offered HAMP

modifications to ensure that the exclusion was appropriate

(“Second Look”). Larger servicers are on an alternating

permanent modifications and Second Look monthly loan

file review cycle. These Loan File reviews consist of a

statistical sample (typically 100‐ 150 loan files per larger

servicer). Smaller servicers are also statistically sampled on

a quarterly or semi‐annual cycle.

Incentive Payments – A review performed by MHA‐C to

determine the accuracy and validity of borrower and

investor incentive payments, and to assess whether

borrower payments are appropriately allocated to

borrowers’ loan principal in accordance with HAMP

guidelines. They are performed at a minimum annually on

the top 21 servicers.

Areas of Compliance Focus

Based on the results of MHA‐C’s reviews to date and

anticipated risks to the program, HAMP compliance efforts

will remain focused on the following general areas:

Borrower Solicitation – Servicers are required to solicit

eligible borrowers without delay and not conduct

foreclosure proceedings until such borrowers are

appropriately considered for HAMP. It is critical that

servicers not take actions that would lead to borrowers

becoming displaced from their home without being given

proper consideration for a loan modification or other

foreclosure alternative. Servicers should ensure that their

operating protocols identify all populations of eligible

borrowers. Servicers should ensure that their operating

procedures meet or exceed the minimum requirements of

Supplemental Directive 10‐02 related to borrower

solicitation and contact.

Underwriting Documentation – Servicers must retain a

complete and consistent set of documentation for all loans

considered for HAMP, including evidence supporting

borrower income. In addition, appropriate documentation

must support all decisions (e.g., denials, permanent

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Appendix B: Description of Compliance Activities