Making Home Affordable

Program Performance Report Through September 2013

Report Highlights

More Than 1.8 Million Homeowner Assistance Actions Taken through Making Home 

Affordable

• More than 1.2 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 $547 each month – almost 40% of their median beforemodification payment – saving a total estimated $22.9 billion to date in monthly mortgage payments. 

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

have been granted an estimated $12.1 billion in principal reduction. Of all non-GSE loans eligible for 

principal reduction entering HAMP in September, 72% included a principal reduction feature.

• More than 225,000 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).

• Nearly 120,000 second lien modifications have been completed through the Second Lien 

Modification Program (2MP). 

Performance of Permanent HAMP Modifications has Improved Over Time

• Treasury recently published a blog with additional information and analysis on understanding HAMP 

re-default rates. 

• 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 

OCC attributes this success to HAMP’s design.

• 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 16.2% 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 41.7%.

• Performance of HAMP modifications has improved over time. For modifications seasoned 24 

months, 24.3% of modifications started in 2011 have disqualified, compared to 28.6% of 

modifications started in 2009.

• The majority of homeowners who disqualify from a HAMP permanent modification receive an 

alternative to foreclosure or resolve their delinquency.

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.

APPENDICES:

Terms, Methodology/Program Notes

End Notes

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/Homeowner 

Outreach

Disposition of Homeowners Not in 

HAMP

Inside:

SUMMARY RESULTS:

Making Home Affordable Program Activity

First Lien Modification Activity

Activity for 2MP, PRA, Treasury FHA-HAMP 

and UP

Home Affordable Foreclosure Alternatives 

Program (HAFA)

Performance of Permanent HAMP 

Modifications

First Lien Modification Characteristics 

HAMP Activity by State

HAMP Activity by MSA

 

2

3

4

5

6-8

9

10

11

12

13

14

15

16

17

18

 

19

20

21-22
Making Home Affordable

Program Performance Report Through September 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 1.8 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* 1,444,383 20,655

2MP Modifications Started 119,925 2,444

HAFA Transactions Completed 226,435 11,816

UP Forbearance Plans Started (through 

August 2013) 35,729 625

Cumulative Activity1 1,826,472 35,540

MHA Program Activity

1,277 1,299 1,324

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

1,791 1,826

800

1,000

1,200

1,400

1,600

1,800

2,000

Aug

2012

Sep Oct Nov Dec Jan

2013

Feb Mar Apr May June July Aug Sep

Cumulative MHA Activity (000s)

Cumulative Transactions Completed

* Program-to-Date Total Includes :

(a) 1,268,635 GSE and Non-GSE HAMP permanent modifications,

(b) 18,999 FHA- and RD-HAMP modifications, and

(c) 156,749 GSE Standard Modifications since October 2011 under the GSEs’ 

Servicer Alignment Initiative. 

See Appendix A1 for Terms and Methodology, A2 for Program Notes and A3 and A4 for 

additional information on servicer participants in Making Home Affordable programs. 
Making Home Affordable

Program Performance Report Through September 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, 12,421 trials have entered the 

HAMP system of record since the prior report; 10,417 were trials with a first payment recorded in September 2013. 

HAMP Permanent Modifications Started (Cumulative)

1,009 1,026 1,043 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

600

700

800

900

1,000

1,100

1,200

1,300

1,400

Apr

2012

May June July Aug Sep Oct Nov Dec Jan

2013

Feb Mar Apr May June July Aug Sep

All Permanent Modifications Started 

(000s)

1,843

1,862

1,880

1,895

1,912

1,927

1,944

1,961

1,975 1,987

2,001

2,018

2,036

2,054

2,069

2,085

2,099 2,109

0

50

100

1,700

1,750

1,800

1,850

1,900

1,950

2,000

2,050

2,100

2,150

Apr

2012

May June July Aug Sep Oct Nov Dec Jan

2013

Feb Mar Apr May June July Aug Sept

New Trials Started (000s)

All Trials Started (000s)

HAMP Activity Through September 2013 Total

Trial

Modifications

All Trials Started 2,109,130

 Tier 1 2,071,112

 Tier 2 38,018

Trials Reported Since Last Report2 12,421

Trial Modifications Canceled Since June 1, 2010* 75,051

Active Trials 59,795

Permanent 

Modifications

All Permanent Modifications Started 1,268,635

 Tier 1 1,247,113

 Tier 2 21,522

Permanent Modifications Reported Since 

Last Report 12,884

Permanent Modifications Disqualified 

(Cumulative)** 338,508

Active Permanent Modifications 909,220

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 

3.2 million homeowners who are currently 60+ days delinquent, an estimated 600,000 

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). 

* 780,700 cumulative including 705,649 that had trial start dates prior to June 1, 2010 when Treasury 

implemented a verified income requirement. ** Does not include 20,907 loans paid off.
Making Home Affordable: Summary Results

Program Performance Report Through September 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 35,729

UP Forbearance Plans With Some Payment Required 30,381

UP Forbearance Plans With No Payment Required 5,348

Unemployment Program (UP) Activity

See Appendix A1 for Terms and Methodology, A2 for Program Notes and A3 and A4 for 

additional information on servicer participants in Making Home Affordable programs. 

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

mortgages.

All Treasury FHA-HAMP Trial Modifications Started 34,248

All Treasury FHA-HAMP Permanent Modifications Started 18,914

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 eligible3 for principal reduction that started a trial in September 2013, 72% 

included a principal reduction feature, including 59% through the HAMP PRA program. 

HAMP 

Modifications 

with Earned 

Principal 

Reduction Under 

PRA4

HAMP 

Modifications 

with Upfront 

Principal 

Reduction 

Outside of PRA

Total HAMP 

Modifications 

with Principal 

Reduction

All Trial Modifications Started 150,532 47,601 198,133

Trials Reported Since Last Report 3,528 883 4,411

Active Trial Modifications 14,626 3,580 18,206

All Permanent Modifications Started 124,093 40,474 164,567

Permanent Modifications Reported 

Since Last Report 4,665 1,189 5,854

Active Permanent Modifications 104,771 34,703 139,474

Median Principal Amount Reduced for 

Active Permanent Modifications5 $72,686 $56,982 $67,637 

Median Principal Amount Reduced for 

Active Permanent Modifications (%)6 32.1% 18.0% 30.0%

Total Outstanding Principal Balance 

Reduced on Active Permanent 

Modifications5

$9,699,144,905 $2,399,123,683 $12,098,268,588 

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.

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) 119,925

Second Lien Modifications Involving Full Lien Extinguishments 30,747

Second Lien Modifications Disqualified* 8,747

Active Second Lien Modifications** 77,119

Active Second Lien Modifications Involving Partial Lien Extinguishments 9,403

Second Lien Extinguishment Details

Median Amount of Full Extinguishment $61,045 

Median Amount of Partial Extinguishment for Active Second Lien 

Modifications $9,940 

* Does not Include 3,312 loans paid off. 

** Includes 6,792 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: Summary Results

Program Performance Report Through September 2013

71 75 80 86 101 114 126 140 154 170 181 194

215 226

0

50

100

150

200

250

All Transactions Completed (000s)

Cumulative HAFA Transactions Completed

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. 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 required by investors) 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.

Combined Short Sale and Deed-In-Lieu Activity

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 MHA HAFA Activity by State

Non-GSE HAFA Debt Relief 

5

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 $341 million in subordinate liens has been released thus 

far. 

Characteristics of Non-GSE HAFA Activity

Investor Type Transactions 

Completed 

GSE 91,323

Portfolio 36,837

Private 98,275

Total 226,435

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

Non-GSE 

Activity GSE Activity Total

Short Sale 131,101 81,326 212,427

Deed-in-Lieu 4,011 9,997 14,008

Total Transactions Completed 135,112 91,323 226,435 Through HAFA, borrowers can be relieved of significant unpaid principal balances. 

Homeowners have been granted an estimated $18.8 billion in debt relief 7 since the 

beginning of the program.

Median Unpaid Principal Balance $287,068 

Median Debt Relief $130,808 

Median % Debt Relief 48%

Median Sales Price $168,000 

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

Program Performance Report Through September 2013

Performance of Permanent Modifications (As of August 31, 2013)

6

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, 24.3% of modifications started in 

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

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

• On a cumulative basis, the total number and rate of disqualifications will increase over time. 

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 September 2013

Performance of Permanent Modifications (As of August 31, 2013)

7

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 47,398 5.6% 1.6% 52,017 10.0% 6.0% 56,179 20.3% 15.7% 59,772 25.6% 22.5% 60,867 31.8% 28.6% 62,059 35.5% 33.1% 61,794 39.8% 37.3% 61,508 42.6% 40.9%

2010 416,306 4.5% 1.2% 465,703 10.4% 6.1% 504,575 19.1% 15.2% 510,508 26.0% 22.5% 520,787 30.7% 27.9% 518,266 35.0% 32.5% 446,951 38.9% 36.9% 165,694 42.4% 40.5%

2011 296,995 3.2% 1.0% 318,423 8.1% 4.9% 327,271 15.8% 12.5% 328,053 21.6% 18.7% 257,720 26.7% 24.3% 80,212 31.1% 28.9%

2012 180,286 2.8% 0.8% 186,315 6.9% 4.1% 145,919 13.4% 10.4% 50,278 18.4% 15.7%

Q1 2013 39,455 2.1% 0.6% 41,120 5.9% 3.4%

Q2 2013 31,627 2.6% 0.7%

ALL 1,012,067 3.7% 1.1% 1,063,578 8.9% 5.3% 1,033,944 17.3% 13.7% 948,611 24.1% 20.8% 839,374 29.6% 26.9% 660,537 34.6% 32.1% 508,745 39.0% 36.9% 227,202 42.5% 40.6%

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 August 31, 2013, as reported by servicers through September 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 313,134 disqualified loans that have aged 3, 6, 12, 18, 24, 30, 36 or 42 months through the August activity period as reported by servicers through September 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 44,594 OMRs, or 5% of total required OMR’s 

for payments due August 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 39.7%-40.5%.

• 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 September 2013

Performance of Permanent Modifications (As of August 31, 2013)

8

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 16.2% of 

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

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

of 41.7% 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 24.9% re-default rate in the subsequent 24 months, 

compared to 31.3% 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 22% re-default rate in the subsequent 24 months, compared to a 

rate of 11.4% 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: Summary Results

Program Performance Report Through September 2013

Homeowner Benefits and First Lien Modification Characteristics

9

Aggregate payment savings to homeowners who received HAMP first lien permanent modifications are estimated to total approximately $22.9 billion, program to 

date, compared with unmodified mortgage obligations. The median monthly savings for homeowners in active permanent first lien modifications is $547.10, 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% -15.1 pct pts

 Tier 2 30.7% 25.4% -7.2 pct pts

Back-End Debt-to-Income Ratio

 Tier 1 69.6% 51.2% -15.4 pct pts

 Tier 2 47.4% 38.9% -7.2 pct pts

Median Monthly Housing 

Payment

 Tier 1 $1,415.21 $796.44 ($552.63)

 Tier 2 $1,155.22 $757.06 ($360.44)

Modification Steps of Active Permanent Modifications

Modification Step Tier 1 Tier 2

Interest Rate Reduction 96.2% 79.2%

Term Extension 63.0% 71.9%

Principal Forbearance 33.6% 27.8%

• The primary hardship reasons for homeowners in active permanent modifications 

are:

 68.3% experienced loss of income (curtailment of income or unemployment)

 10.4% 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.8 

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.

 18% were previously evaluated for Tier 1 and did not meet eligibility 

requirements.

• The median gross monthly income of homeowners in the program is $3,850.00. 

• The median credit score of homeowners in the program is 575.
Making Home Affordable: Summary Results

Program Performance Report Through September 2013

10

Note: Includes active trial and permanent 

modifications from the official HAMP system of 

record.

Source: 2nd Quarter 

2013 National 

Delinquency Survey, 

Mortgage Bankers 

Association.

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 31 405 436 0.0% MT 70 1,031 1,101 0.1%

AL 470 4,964 5,434 0.6% NC 1,330 16,127 17,457 1.8%

AR 190 1,894 2,084 0.2% ND 12 134 146 0.0%

AZ 1,082 34,056 35,138 3.6% NE 106 1,180 1,286 0.1%

CA 11,191 237,146 248,337 25.6% NH 271 3,944 4,215 0.4%

CO 740 12,760 13,500 1.4% NJ 2,386 29,236 31,622 3.3%

CT 1,039 11,731 12,770 1.3% NM 238 3,079 3,317 0.3%

DC 123 1,564 1,687 0.2% NV 964 19,362 20,326 2.1%

DE 229 2,656 2,885 0.3% NY 4,277 46,516 50,793 5.2%

FL 7,671 111,106 118,777 12.3% OH 1,617 18,746 20,363 2.1%

GA 1,970 32,230 34,200 3.5% OK 239 2,099 2,338 0.2%

HI 235 3,544 3,779 0.4% OR 569 10,227 10,796 1.1%

IA 167 2,091 2,258 0.2% PA 1,978 18,843 20,821 2.1%

ID 172 3,344 3,516 0.4% RI 311 4,311 4,622 0.5%

IL 3,184 46,670 49,854 5.1% SC 707 8,184 8,891 0.9%

IN 795 8,353 9,148 0.9% SD 19 298 317 0.0%

KS 187 2,115 2,302 0.2% TN 880 8,936 9,816 1.0%

KY 374 3,267 3,641 0.4% TX 2,409 24,825 27,234 2.8%

LA 512 5,042 5,554 0.6% UT 338 7,875 8,213 0.8%

MA 1,725 21,523 23,248 2.4% VA 1,364 21,447 22,811 2.4%

MD 2,083 28,613 30,696 3.2% VT 80 795 875 0.1%

ME 230 2,492 2,722 0.3% WA 1,297 19,377 20,674 2.1%

MI 1,278 26,296 27,574 2.8% WI 702 8,357 9,059 0.9%

MN 685 13,847 14,532 1.5% WV 92 1,167 1,259 0.1%

MO 707 8,732 9,439 1.0% WY 30 410 440 0.0%

MS 283 3,080 3,363 0.3% Other* 156 3,193 3,349 0.3% 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

* Other includes Guam, Puerto Rico and the U.S. Virgin Islands.
Making Home Affordable: Summary Results

Program Performance Report Through September 2013

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

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

Metropolitan Statistical Area

Active Trials

Active Permanent

Modifications MSA Total Active

% of U.S. HAMP 

Activity

Median $ 

Payment 

Reduction9

Median % Payment 

Reduction9

Los Angeles-Long Beach-Santa Ana, CA 3,931 76,657 80,588 8.3% $870.79 41%

New York-Northern New Jersey-Long Island, NY-NJ-PA 5,133 61,410 66,543 6.9% $889.86 43%

Miami-Fort Lauderdale-Pompano Beach, FL 3,439 49,446 52,885 5.5% $583.16 45%

Chicago-Joliet-Naperville, IL-IN-WI 3,081 45,336 48,417 5.0% $570.74 44%

Riverside-San Bernardino-Ontario, CA 1,859 44,969 46,828 4.8% $690.44 41%

Washington-Arlington-Alexandria, DC-VA-MD-WV 1,779 30,272 32,051 3.3% $699.27 38%

Phoenix-Mesa-Glendale, AZ 721 27,047 27,768 2.9% $503.54 41%

Atlanta-Sandy Springs-Marietta, GA 1,483 25,981 27,464 2.8% $413.81 40%

San Francisco-Oakland-Fremont, CA 1,004 21,356 22,360 2.3% $930.18 40%

San Diego-Carlsbad-San Marcos, CA 778 17,361 18,139 1.9% $811.77 39%

Orlando-Kissimmee-Sanford, FL 983 15,992 16,975 1.8% $495.84 42%

Boston-Cambridge-Quincy, MA-NH 1,162 15,491 16,653 1.7% $686.97 39%

Las Vegas-Paradise, NV 797 15,759 16,556 1.7% $573.74 42%

Detroit-Warren-Livonia, MI 662 15,765 16,427 1.7% $422.98 42%

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 1,408 14,453 15,861 1.6% $450.51 36%

15 Metropolitan Areas With Highest HAMP Activity

11
Making Home Affordable: Summary Results

Program Performance Report Through September 2013

Servicer 

Trial Plan 

Offers 

Extended10 

All HAMP 

Trials 

Started11

HAMP 

Permanent 

Modifications

Started11

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. 582,295 250,251 113,118 5,478 1,594 76,886 24,791 41,849 15,724 82,364

CitiMortgage, Inc. 222,027 142,646 70,462 3,467 1,148 52,864 32,633 6,193 17,505 56,331

JPMorgan Chase Bank, 

N.A. 434,710 322,240 191,097 5,775 1,007 145,440 67,176 53,361 30,678 151,215

Nationstar Mortgage 

LLC 71,765 179,239 118,368 4,731 1,003 87,467 57,133 33,057 2,008 92,198

Ocwen Loan Servicing, 

LLC 293,354 333,007 233,129 14,501 1,082 160,409 39,066 119,517 16,327 174,910

OneWest Bank* 101,739 44,102 28,775 1,165 44 21,743 2 19,672 3,234 22,908

Select Portfolio 

Servicing, Inc. 86,776 91,745 52,239 5,257 1,191 30,129 458 30,851 4,077 35,386

Wells Fargo Bank, N.A. 275,927 305,007 179,733 8,957 771 135,690 55,701 28,135 60,811 144,647

Other Servicers 269,017 440,893 281,714 10,464 1,974 198,592 170,880 16,692 21,484 209,056

Total 2,337,610 2,109,130 1,268,635 59,795 9,814 909,220 447,840 349,327 171,848 969,015

HAMP Modification Activity by Servicer and Investor Type

12

*OneWest Bank recently sold mortgage servicing rights to Ocwen Loan Servicing, LLC. The transfer is expected to close in 

stages during the second half of 2013. Therefore, Ocwen Loan Servicing, LLC includes a portion of the loans previously 

reported under OneWest Bank. 

See Appendix A1 for Terms and Methodology, A2 for Program Notes and A3 and A4 for additional information on servicer 

participants in Making Home Affordable programs. 
Making Home Affordable: Servicer Results

Program Performance Report Through September 2013

13

Making Home Affordable Programs by Servicer

HAMP First Lien Modifications Principal Reduction Alternative 

(PRA)13

Second Lien 

Modification (2MP)

Home Affordable 

Foreclosure 

Alternatives (HAFA)14

Servicer Trials

Started11

Permanent 

Modifications 

Started11

Trials 

Started

Permanent 

Modifications 

Started

Second Lien 

Modifications 

Started

Non-GSE Transactions 

Completed

Bank of America, N.A. 250,251 113,118 9,887 8,317 36,644 42,572

CitiMortgage, Inc. 142,646 70,462 3,889 2,899 14,465 1,012

JPMorgan Chase Bank, N.A. 322,240 191,097 29,033 25,850 34,387 34,638

Nationstar Mortgage LLC 179,239 118,368 5,790 5,373 852 4,738

Ocwen Loan Servicing, LLC 333,007 233,129 54,061 41,717 N/A 12,445

OneWest Bank 44,102 28,775 7,859 6,967 3,833 5,429

Select Portfolio Servicing, Inc. 91,745 52,239 5,676 4,157 N/A 5,113

Wells Fargo Bank, N.A. 305,007 179,733 28,409 24,020 18,271 23,407

Other Servicers 440,893 281,714 5,928 4,793 11,473 5,758

Total 2,109,130 1,268,635 150,532 124,093 119,925 135,112

See Appendix A1 for Terms and Methodology, A2 for Program Notes and A3 and A4 for 

additional information on servicer participants in Making Home Affordable programs. 

N/A - Servicer does not participate in the program.
Making Home Affordable: Servicer Results

Program Performance Report Through September 2013

14

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

82% 82% 78%

70%

81%

66% 68%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Bank of America CitiMortgage JPMorgan Chase Nationstar Ocwen OneWest SPS Wells Fargo

Servicer 

Unable to 

Report 

Comprehensive 

Data

Right Party Contact Ratio HAMP Evaluations Complete Ratio

80%

94%

89%

87%

96%

90%

82%

Source: Survey of largest participating servicers as of August 31, 2013. 
Making Home Affordable: Servicer Results

Program Performance Report Through September 2013

Average Homeowner Delinquency at Trial Start

0

50

100

150

200

250

300

Bank of

America

CitiMortgage JPMorgan

Chase

Nationstar Ocwen OneWest SPS Wells Fargo

Days

15

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 2013

89%

88% 91%

79%

86%

94%

71%

92%

0%

25%

50%

75%

100%

Bank of

America

CitiMortgage JPMorgan

Chase

Nationstar Ocwen OneWest SPS Wells Fargo

Conversion Rate

Conversion Rate

16

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

a majority of 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 September 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 September 2013

0

5

10

15

20

25

30

35

Bank of America CitiMortgage JPMorgan Chase Nationstar Ocwen OneWest SPS Wells Fargo

Days

Q4 2012 Q1 2013 Q2 2013 Current Quarter

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 four quarters, all of the largest 

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

17

Servicer Time to Resolve Non-GSE Escalations: Average Resolution Time by Quarter in Which Escalations were Resolved15

Target: 30 Calendar Days16

Bank of 

America CitiMortgage JPMorgan 

Chase Nationstar Ocwen OneWest SPS Wells Fargo 

Resolved Cases17

GSE Cases 7,168 1,131 2,498 827 792 600 10 1,956

Non-GSE Cases 9,298 867 3,833 788 4,440 923 493 4,244

Total 16,466 1,998 6,331 1,615 5,232 1,523 503 6,200

Active Cases Total 98 21 23 53 56 16 30 43

Select Measures of Homeowners’ Experience with MHA

Selected Homeowner Outreach Measures Program to Date

Homeowner Outreach Events Hosted Nationally by Treasury and Partners (cumulative) 88

Homeowners Attending Treasury-Sponsored Events (cumulative) 75,501

Servicer Solicitation of Borrowers (cumulative)** 9,699,467

Page views on MakingHomeAffordable.gov (September 2013) 1,091,169

Page views on MakingHomeAffordable.gov (cumulative) 179,403,824

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

Homeowner’s HOPETM Hotline Volume* Program 

to Date September

Total Number of Calls Taken at 1-888-995-HOPE 4,031,751 45,085

Borrowers Referred for Free Housing Counseling Assistance 

Through the Homeowner’s HOPETM Hotline 2,216,166 25,107

Source: MHA Support Centers. 
Making Home Affordable: Servicer Results

Program Performance Report Through September 2013

Disposition Path of Homeowners Not in HAMP

Survey Data For Actions Completed Through August 201318 (Largest Servicers)

• HAMP guidance requires that 

servicers evaluate homeowners 

with eligible loans for HAMP, 

before considering other 

foreclosure alternatives.

• For those homeowners that do 

not qualify for HAMP or do not 

successfully complete the trial 

period, 58% receive an 

alternative modification or 

resolve 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.

• Less than a quarter of homeowners 

who have disqualified from HAMP have 

been referred to foreclosure.

Servicer 

Totals 34,101 13,566 39,417 25,433 62,231 6,390 20,350 39,553 241,041

Servicer 

Totals 451,822 239,303 718,595 200,627 482,809 145,902 81,041 405,102 2,725,201

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%

29%

4% 4%

15%

2%

2% 6%

11%

2%

4%

2% 3%

3%

5%

4%

25%

19% 36%

52%

18%

29%

12% 29% 28%

24%

30%

28%

5%

52% 29% 35% 26%

30%

16%

12%

14%

5%

7%

9% 10% 11%

11% 4%

6%

5%

4%

7%

8%

12%

8%

6%

26%

18%

12% 11%

18% 13% 19% 15%

0%

20%

40%

60%

80%

100%

Bank of America CitiMortgageJP Morgan Chase Nationstar Ocwen OneWest SPS Wells Fargo Top Servicers

% of Trials Cancelled and Not Approved

11% 9% 11%

48%

12% 13%

22%

7%

15%

4%

14% 4%

9%

4% 6%

6%

9%

9% 6%

11%

10%

20%

8%

9%

5%

6%

9%

28%

24% 36%

4%

52%

14%

34%

47%

36%

22% 16%

18%

9%

6%

21%

10% 10% 12%

6% 11%

10%

11%

11%

17%

14% 5%

10%

20% 15% 11% 7%

21%

9%

17% 12%

0%

20%

40%

60%

80%

100%

Bank of America CitiMortgageJP Morgan Chase Nationstar Ocwen OneWest SPS Wells Fargo Top Servicers

% of Permanent Modifications Disqualified

Action Pending: Homeowners who were not approved for a HAMP trial modification, trial loans that have been canceled or permanent 

modifications that have been disqualified, but no further action has yet been taken. 

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 September 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 Jan. 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.

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, 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:

GSE Standard Modification data is provided by Fannie Mae and Freddie 

Mac as of September 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 Second Quarter of 2013, since 4Q 

2008, the GSEs have completed more than 1.4 million permanent 

modifications, which includes their activity under MHA. Please visit 

www.FHFA.gov for the complete FHFA report. 

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 October 2013 edition of the Obama Administration’s 

Housing Scorecard, FHA has offered more than 2 million loss mitigation 

and early delinquency interventions through September 30, 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 non-participating 2MP servicers are 

reflected in “Other Servicers.”

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 September 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 Second Quarter of 2013, since 4Q 

2008 the GSEs have completed over 500,000 short sales and deed-inlieu of foreclosure actions, which includes their activity under MHA. 

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

UP Program Notes: 

Data is as reported by servicers via survey for UP participation through 

August 31, 2013.

Appendix A1: Terms, Methodology and General Program Notes

19
Making Home Affordable

Program Performance Report Through September 2013

SUMMARY 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. 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.

4. Includes some modifications with additional 

principal reduction outside of HAMP PRA.

5. Under HAMP PRA, principal reduction vests over a 

3-year period. The amounts noted reflect the 

entire amount that may be forgiven.

6. Principal amount reduced as a percentage of 

before-modification UPB, excluding capitalization.

7. 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.

8. Subject to investor restrictions. Effective February 

1, 2013, Supplemental Directive 12-09 expanded 

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

9. For active permanent modifications. Median % 

reflects percent of the median monthly payment 

before modification.

SERVICER RESULTS:

10. As reported in the monthly servicer survey of large 

SPA servicers through September 30, 2013. Figures 

do not reflect the impact of servicing transfers.

11. As reported into the HAMP system of record by 

servicers. Excludes FHA-HAMP modifications. 

Totals reflect impact of servicing transfers. 

Servicers may enter new trial modifications into 

the HAMP system of record at any time.

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. 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. 

14. Includes Non-GSE activity under the MHA program 

only. Servicer GSE program data not available.

15. 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.

16. Target of 30 calendar days includes an estimated 5 

days of processing by MHA Support Centers.

17. Resolved cases include all escalations resolved on 

or after February 1, 2011 through September 30, 

2013 and exclude those that did not require 

servicer actions.

18. Data is as reported by servicers for actions 

completed through August 31, 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 A2: End Notes

20
Making Home Affordable

Program Performance Report Through September 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

Franklin Savings

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. and GMAC Mortgage, LLC. 

4 Formerly National City Bank.

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

Appendix A3: Non-GSE Participants in HAMP

21
Making Home Affordable

Program Performance Report Through September 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 

Franklin Savings 

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. 

Appendix A4: Participants in Additional Making Home Affordable Programs

22