Making Home Affordable

Program Performance Report Through August 2011

Report Highlights Inside:

More Than 816,000 Homeowners Granted Permanent Modifications

• Program to date, homeowners in permanent modifications have realized 

aggregate savings in monthly mortgage payments of nearly $8.3 billion. 

Homeowners in active first lien permanent modifications save a median of $525 

per month – more than one-third of the median before-modification payment.

• Seventy-six percent of eligible homeowners entering a HAMP trial modification 

since June 1, 2010 received a permanent modification, with an average trial period 

of 3.5 months. 

Outreach to Struggling Homeowners Continues

• Treasury and HUD recently launched a nationwide Foreclosure Prevention Public 

Service Advertisement (PSA) campaign to increase awareness of the Making Home 

Affordable program among eligible homeowners.

• This campaign, combined with free outreach events in local communities across 

the country, aims to connect struggling homeowners with their mortgage servicers 

and HUD-approved housing counselors to discuss options to avoid foreclosure. 

SUMMARY RESULTS:

First Lien Modification Activity

Waterfall of Eligible Borrowers/

First Lien Modification Characteristics

Activity for HAFA, PRA and UP

Second Lien and FHA-HAMP Activity

HAMP Activity by State

HAMP Activity by MSA/

Homeowner Outreach

Aged Trials

2

3

4

5

6

7

8

SERVICER RESULTS:

Modification Activity by Servicer

Trial Length

Conversion Rate

Disposition of Homeowners Not in

HAMP

Homeowner Experience

Modifications by Investor Type

9

10

11

12-13

14

15

APPENDICES:

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

Program Performance Report Through August 2011

HAMP Activity: First Lien Modifications

Total

HAMP Eligibility 

(As of July 31, 2011)

Eligible Delinquent Loans1 2,564,766

Eligible Delinquent Borrowers2 992,968

Trial

Modifications

Trial Plan Offers Extended (Cumulative)3 1,902,606

All Trials Started 1,688,038

Trials Reported Since July 2011 Report4 26,577

Trial Modifications Canceled (Cumulative) 765,345

Active Trials 105,860

Permanent 

Modifications

All Permanent Modifications Started 816,833

Permanent Modifications Reported Since 

July 2011 Report 25,434

Permanent Modifications Canceled 

(Cumulative)5 125,864

Active Permanent Modifications 690,969

1 Estimated eligible 60+ day delinquent loans as reported by servicers as of July 31, 2011, include conventional loans: 

 in foreclosure and bankruptcy.

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

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

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

 originated on or before January 1, 2009.

Estimated eligible 60+ day delinquent loans exclude: 

 FHA and VA loans.

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

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

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

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

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

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

market analytics. 3 As reported in the weekly servicer survey of large SPA servicers through Sept. 1, 2011. 

4 Servicers may enter new trial modifications into the HAMP system of record at anytime. 5 A permanent modification is canceled when the borrower has missed three consecutive monthly payments. Includes 

1,989 loans paid off.

HAMP is designed to lower monthly mortgage payments to help struggling 

homeowners stay in their homes and prevent avoidable foreclosure. 

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

2

HAMP Trials Started

955

1,050

1,138

1,208

1,257 1,2831,305 1,330 1,353 1,385 1,415 1,446 1,481 1,512

1,545 1,578 1,609 1,634 1,656 1,675 1,688

0

100

200

300

600

900

1,200

1,500

1,800

Dec 2009 Mar 2010 June Sep Dec Mar 2011 June

New Trials Started (000s)

All Trials Started (000s)

Cumulative Trial Starts (Left Axis)

Monthly Trial Starts (Right Axis)

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

time. For example, 26,577 trials have entered the HAMP system of record since the prior report; 13,257 were trials with 

a first payment recorded in August 2011. 

Permanent Modifications Started (Cumulative)

67

117

170

231

299

347

398

435

468

496

520

550

580

608 634

670

699

731

763

791 817

0

100

200

300

400

500

600

700

800

900

Dec 2009 Mar 2010 June Sep Dec Mar 2011 June

All Permanent Modifications Started (000s)

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

Program Performance Report Through August 2011

• The primary hardship reasons for homeowners in active permanent 

modifications are:

• 61.5% experienced loss of income (curtailment of income or 

unemployment)

• 11.2% reported excessive obligation

• 2.9% reported an illness of the principal borrower

Homeowner Benefits and First Lien Modification Characteristics

Loan Characteristic

Before 

Modification

After 

Modification

Median 

Decrease

Front-End Debt-to-Income Ratio1 45.2% 31.0% -14.3 pct pts

Back-End Debt-to-Income Ratio2 78.3% 61.4% -14.7 pct pts

Median Monthly Housing 

Payment3 $1,427.50 $831.61 -$525.46

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

fees) to monthly gross income. 

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

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

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

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

3 Principal and interest payment. 

Select Median Characteristics of Active Permanent Modifications

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

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

and in imminent default. 

3

• Aggregate savings to homeowners who received HAMP first lien 

permanent modifications are estimated to total nearly $8.3 billion,

program to date, compared with unmodified mortgage obligations.

• The median monthly savings for borrowers in active permanent first 

lien modifications is $525.46, or 37% of the median monthly 

payment before modification. 

• Active permanent modifications feature the following modification steps:

• 98.9% feature interest rate reductions

• 59.6% offer term extension

• 30.9% include principal forbearance

Waterfall of Estimated Eligible Homeowners

For the First Lien Modification Program

4.1

3.4

2.9

2.6

2.6

1.8

1.6

1.0

1.0

4.6

0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

5

Loans (Millions)

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

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

who are currently 60+ days delinquent, 1.0 million homeowners are eligible for HAMP. 

As this represents a point-in-time snapshot of the delinquency population and 

estimated HAMP eligibility, we expect that as homeowners become seriously 

delinquent between now and the end of 2012, some of those homeowners will be 

eligible for HAMP.

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

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

Servicer Origination Loans and And Other Borrowers

Loans Exclusions**

Originated

After 1/1/2009

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

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

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

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

Sources: Fannie Mae; monthly survey of participating servicers for July 31, 2011. Total 60+ day delinquency 

figure derived from 2nd Quarter 2011 MBA National Delinquency Survey. Excluded loans are as reported by 

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

HAMP-Eligible 

60+ Day 

Delinquent 

Loans (GSE and 

SPA Servicers) HAMP 

Estimated 

Eligible 60+ 

Day 

Delinquent 

Borrowers
Making Home Affordable: Summary Results

Program Performance Report Through August 2011

The Home Affordable Foreclosure Alternatives Program (HAFA) offers incentives for 

homeowners looking to exit their homes through a short sale or deed-in-lieu of 

foreclosure. HAFA has established important homeowner protections and an industry 

standard for streamlined transactions. In 22% of HAFA agreements started, the 

homeowner began a HAMP trial modification but later requested a HAFA agreement 

or was disqualified from HAMP. 

4

All HAFA Agreements Started1 28,953

HAFA Agreements Active 9,958

HAFA Transactions Completed 15,954

Completed Transactions – Short Sale 15,531

Completed Transactions – Deed-in-Lieu 423

Home Affordable Foreclosure Alternatives (HAFA) Activity HAFA Activity by Servicer

Servicer

Agreements

Started1

Agreements 

Completed

Bank of America, NA2 2,929 1,978

J.P. Morgan Chase Bank NA3 11,683 6,454

Litton Loan Servicing LP 1,267 634

Select Portfolio Servicing, Inc. 1,593 764

Wells Fargo Bank, NA4 7,760 4,225

All Other Servicers 3,721 1,899

Total 28,953 15,954

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

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

Transactions Canceled.

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

Corporation.

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

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

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

evaluate the benefit of principal reduction for mortgages with a loan-to-value ratio of 

115% or greater when evaluating a homeowner for a HAMP first lien modification. 

While servicers are required to evaluate homeowners for PRA, they are not required to 

reduce principal as part of the modification. PRA may be a feature of a HAMP trial or 

permanent modification. 

All PRA Trial Modifications Started 35,001

PRA Trial Modifications Active 22,149

All PRA Permanent Modifications Started 10,781

PRA Permanent Modifications Active 10,544

Median Principal Amount Reduced for Active Permanent 

Modifications $67,857

Median Principal Amount Reduced for Active Permanent 

Modifications (%)2 30.5%

Principal Reduction Alternative (PRA) Activity

2 PRA amount as a percentage of before-modification UPB, excluding capitalization. 

The Treasury Unemployment Program (UP) provides a temporary 

forbearance to homeowners who are unemployed. Under Treasury 

guidelines, unemployed homeowners must be considered for a minimum of 

12 months’ forbearance. 

All UP Forbearance Plans Started (Through July 2011) 13,993

UP Forbearance Plans With Some Payment Required 11,364

UP Forbearance Plans With No Payment Required 2,629

Unemployment Program (UP) Activity

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

deed-in-lieu transaction. A short sale requires a third-party purchaser and cooperation of junior lienholders and mortgage 

insurers to complete the transaction. All HAFA Agreements Started include HAFA Agreements Active, HAFA 

Transactions Completed, and HAFA Transactions Canceled.

Note: Data is as reported by servicers via survey for UP participation through July 31, 2011. 

See Appendix A2 for servicer participants in additional Making Home Affordable programs. 
Making Home Affordable: Summary Results

Program Performance Report Through August 2011

5

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

a first lien permanent modification who have an eligible second lien with a 

participating servicer. This assistance can result in a modification of the second lien 

and even full or partial extinguishment of the second lien. 2MP requires that the 

first lien modification be permanent and active and that the second lien have an 

unpaid balance of more than $5,000 and a monthly payment of $100 or greater.

All Second Lien Modifications Started (Cumulative)1 40,654

Second Lien Modifications Involving Full Lien 

Extinguishments 3,642

Second Lien Modifications Disqualified2 548

Active Second Lien Modifications 36,464

Second Lien Modification Program (2MP) Activity 

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

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

which are primarily due to servicer data corrections.

2 Includes 58 loans paid off. 

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

extension and principal forbearance or forgiveness.

Of the Active Second Lien Modifications:

Second Lien Partially Extinguished 1,433

Second Lien Loan Modifications3 35,031 Second Lien Modification Activity by Servicer

Servicer

Second Lien 

Modifications 

Started

Full 

Extinguishments DQ1

Active Partial 

Extinguishment/

Modifications

Bank of America, NA2 17,009 1,606 268 15,135

CitiMortgage, Inc 5,368 893 50 4,425

GMAC Mortgage, LLC 2,405 434 3 1,968

J.P. Morgan Chase Bank 

NA3 5,662 0 95 5,567

Wells Fargo Bank, NA4 8,196 232 119 7,845

Other SPA Servicers 2,014 477 13 1,524

Total 40,654 3,642 548 36,464

Second Lien Modifications Started (Cumulative)

671 989 1,450 2,116 3,942 5,634

9,637

21,358

25,051

27,941

31,966

35,166

38,57240,654

0

10,000

20,000

30,000

40,000

50,000

Aug 

2010

Sep Oct Nov Dec Jan 

2011

Feb Mar Apr May June July Aug Sep

Second Lien Extinguishment Details

Average Amount of Full Extinguishment $68,042

Average Amount of Partial Extinguishment $6,560

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

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

Corporation.

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

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

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

August 2011 data, though the effective date may occur in September. Number of modifications is net of 

cancellations, which are primarily due to servicer data corrections.

The Treasury FHA-HAMP Program provides assistance to eligible homeowners 

with FHA-insured mortgages.

All Treasury FHA-HAMP Trial Modifications Started 6,148

Treasury FHA-HAMP Permanent Modifications Started 4,254

Treasury FHA-HAMP Modification Activity
Making Home Affordable: Summary Results

Program Performance Report Through August 2011

6

Note: Includes active trial and permanent 

modifications from the official HAMP system of 

record.

Source: 2nd Quarter 2011 

National Delinquency 

Survey, Mortgage 

Bankers Association.

State

Active 

Trials

Permanent 

Modifications

State 

Total1

% of 

U.S. 

HAMP 

Activity State

Active 

Trials

Permanent 

Modifications

State 

Total1

% of 

U.S. 

HAMP 

Activity

AK 64 292 356 0.0% MT 120 794 914 0.1%

AL 601 3,930 4,531 0.6% NC 1,727 12,580 14,307 1.8%

AR 235 1,533 1,768 0.2% ND 15 115 130 0.0%

AZ 3,505 31,163 34,668 4.4% NE 121 960 1,081 0.1%

CA 26,533 168,639 195,172 24.5% NH 447 3,176 3,623 0.5%

CO 1,257 9,581 10,838 1.4% NJ 3,441 22,231 25,672 3.2%

CT 1,287 8,654 9,941 1.2% NM 354 2,253 2,607 0.3%

DC 161 1,167 1,328 0.2% NV 2,489 17,470 19,959 2.5%

DE 320 2,139 2,459 0.3% NY 5,462 32,018 37,480 4.7%

FL 14,170 81,722 95,892 12.0% OH 2,485 15,062 17,547 2.2%

GA 3,862 25,049 28,911 3.6% OK 270 1,594 1,864 0.2%

HI 397 2,638 3,035 0.4% OR 1,099 7,557 8,656 1.1%

IA 238 1,781 2,019 0.3% PA 2,121 14,293 16,414 2.1%

ID 395 2,653 3,048 0.4% RI 478 3,652 4,130 0.5%

IL 5,589 36,899 42,488 5.3% SC 947 6,505 7,452 0.9%

IN 1,035 6,646 7,681 1.0% SD 27 265 292 0.0%

KS 259 1,655 1,914 0.2% TN 1,127 7,101 8,228 1.0%

KY 410 2,616 3,026 0.4% TX 3,065 18,085 21,150 2.7%

LA 704 3,772 4,476 0.6% UT 808 6,575 7,383 0.9%

MA 2,368 17,111 19,479 2.4% VA 2,107 16,773 18,880 2.4%

MD 3,124 22,169 25,293 3.2% VT 102 583 685 0.1%

ME 336 1,891 2,227 0.3% WA 2,256 13,776 16,032 2.0%

MI 3,279 22,246 25,525 3.2% WI 1,017 6,697 7,714 1.0%

MN 1,402 11,902 13,304 1.7% WV 134 1,009 1,143 0.1%

MO 1,085 7,118 8,203 1.0% WY 49 356 405 0.1%

MS 394 2,587 2,981 0.4% Other2 582 1,936 2,518 0.3%

1 Total reflects active trials and active permanent modifications.

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

60+ Day Delinquency Rate

5.0% and lower 10.01% - 15.0% 20.01%

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

HAMP Modifications

5,000 and lower 20,001 – 35,000

5,001 – 10,000 35,001 and higher

10,001 – 20,000 

HAMP Activity by State Modification Activity by State

Mortgage Delinquency Rates by State
Making Home Affordable: Summary Results

Program Performance Report Through August 2011

Homeowner Outreach Events Hosted Nationally by 

Treasury and Partners (cumulative) 58

Homeowners Attending Treasury-Sponsored Events 

(cumulative) 58,238

Servicer Solicitation of Borrowers (cumulative)1 7,771,792

Page views on MakingHomeAffordable.gov

(August 2011) 1,951,749

Page views on MakingHomeAffordable.gov (cumulative) 124,865,252

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

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

Program to 

Date August

Total Number of Calls Taken at 

1-888-995-HOPE 2,469,590 67,579

Borrowers Receiving Free Housing 

Counseling Assistance Through the 

Homeowner’s HOPETM Hotline

1,174,326 31,572

Selected Homeowner Outreach Measures

Call Center Volume

Source: Homeowner’s HOPETM Hotline.

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

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

7

Metropolitan Statistical Area

Active

Trials

Permanent

Modifications

Total MSA 

HAMP 

Activity

% of U.S. 

HAMP 

Activity

Los Angeles-Long Beach-Santa Ana, 

CA 8,253 50,391 58,644 7.4%

New York-Northern New JerseyLong Island, NY-NJ-PA 6,974 43,180 50,154 6.3%

Chicago-Joliet-Naperville, IL-IN-WI 5,396 35,742 41,138 5.2%

Riverside-San Bernardino-Ontario, 

CA 5,028 36,079 41,107 5.2%

Miami-Fort Lauderdale-Pompano 

Beach, FL 6,229 33,330 39,559 5.0%

Phoenix-Mesa-Glendale, AZ 2,720 25,401 28,121 3.5%

Washington-Arlington-Alexandria, 

DC-VA-MD-WV 3,000 23,688 26,688 3.3%

Atlanta-Sandy Springs-Marietta, GA 3,066 20,220 23,286 2.9%

Las Vegas-Paradise, NV 2,076 14,327 16,403 2.1%

San Francisco-Oakland-Fremont, CA 2,455 13,645 16,100 2.0%

Detroit-Warren-Livonia, MI 2,009 13,466 15,475 1.9%

Orlando-Kissimmee-Sanford, FL MSA 2,060 12,720 14,780 1.9%

San Diego-Carlsbad-San Marcos, CA 1,836 12,129 13,965 1.8%

Boston-Cambridge-Quincy, MA-NH 1,671 12,288 13,959 1.8%

Sacramento-Arden-Arcade-Roseville, 

CA 1,823 11,738 13,561 1.7%

15 Metropolitan Areas With Highest HAMP Activity

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

Program Performance Report Through August 2011

Aged Trials1

190,412

165,543

117,574

94,269

76,502

69,418

49,229

39,753 36,184 32,017 26,362 25,390 23,552 23,014 23,061 27,345

0

50,000

100,000

150,000

200,000

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

Trials Lasting 6 Months or Longer At End of Month

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

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

canceled. 

The number of active trials lasting 6 months or longer is about 27,300.

Program guidance directs servicers to cancel or convert trial modifications after three 

or four monthly payments, depending on circumstances.

8
Making Home Affordable: Servicer Results

Program Performance Report Through August 2011

1 Estimated eligible 60+ day delinquent borrowers as reported by 

servicers as of July 31, 2011, include those in conventional loans: 

 in foreclosure and bankruptcy.

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

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

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

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

 originated on or before January 1, 2009.

Estimated eligible 60+ day delinquent borrowers exclude: 

 Those in FHA and VA loans.

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

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

default.

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

negative NPV test.

 Owners of vacant properties or properties otherwise excluded.

 HAMP Trials and Permanent Modifications disqualified from 

HAMP.

 Unemployed borrowers.

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

through Sept. 1, 2011. 3 As reported into the HAMP system of record by servicers. Excludes 

FHA-HAMP modifications. Subject to adjustment based on servicer 

reconciliation of historic loan files. Totals reflect impact of servicing 

transfers. In cases where servicing transfers exceed new trial 

modifications reported, negative numbers are not presented. 

Servicers may enter new trial modifications into the HAMP system of 

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

permanent modifications by the servicer and are pending reporting 

to the HAMP system of record plus some portion which may be 

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

Loans Servicing LP, Home Loan Services and Wilshire Credit 

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

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

cap amount, that have signed participation agreements with 

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

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

Freddie Mac. Includes GSE loans transferred from SPA servicers.

As of 

July 31, 2011 Cumulative As of Aug. 31, 2011

Servicer 

Estimated 

Eligible 60+ 

Day Delinquent

Borrowers1 

Trial Plan 

Offers 

Extended2

All HAMP 

Trials 

Started3

All HAMP 

Permanent 

Modifications

Started3

Trial 

Modifications 

Reported Since 

July 2011

Report3

Active Trial 

Modifications3

Active Trial 

Modifications 

Lasting 6

Months or 

Longer4

Active 

Permanent 

Modifications3

American Home Mortgage Servicing 

Inc. 39,365 39,025 35,128 27,637 832 2,805 353 23,190

Bank of America, NA5 238,376 497,451 409,975 160,660 3,438 28,763 12,049 136,195

CitiMortgage, Inc. 68,815 185,249 131,906 55,057 903 4,910 2,101 47,832

GMAC Mortgage, LLC 27,875 77,361 63,734 46,533 837 2,868 55 39,052

J.P. Morgan Chase Bank, NA6 159,928 326,434 272,122 119,091 10,934 24,530 5,798 97,354

Litton Loan Servicing LP 32,867 43,696 37,926 12,162 58 2,578 417 9,519

Ocwen Loan Servicing, LLC 36,601 50,037 47,302 36,563 763 2,974 518 27,988

OneWest Bank 33,730 72,123 55,317 30,465 790 4,161 235 26,778

Select Portfolio Servicing 3,248 68,366 42,266 23,119 134 680 28 18,948

Wells Fargo Bank, NA7 126,035 327,369 241,039 110,431 4,170 12,574 1,550 96,046

Other SPA Servicers8 93,030 215,495 216,386 110,823 1,961 8,566 1,345 94,907

Other GSE Servicers9 133,098 NA 134,937 84,292 1,757 10,451 2,896 73,160

Total 992,968 1,902,606 1,688,038 816,833 26,577 105,860 27,345 690,969

HAMP Modification Activity by Servicer

9
Making Home Affordable: Servicer Results

Program Performance Report Through August 2011

Length of Trial Upon Conversion1

1 For all permanent modifications started. Note: Per program guidelines, effective June 1, 2010 all trials must be started using verified income. Prior to June 1, 2010, some servicers 

initiated trials using stated income information. 

3.0

3.3

3.5 3.3

4.6

3.0 3.0

3.6

3.2 3.5 3.3 3.3

0

1

2

3

4

5

6

7

8

9

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

Months

Trials Started Before 6/1/10 Trials Started On/After 6/1/10 Before 6/1/10 Average (5.3) On/After 6/1/10 Average (3.5)

The average length of the trial period for those converted to a permanent 

HAMP modification has decreased from 5.3 months for trials started prior to 

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

10
Making Home Affordable: Servicer Results

Program Performance Report Through August 2011

86%

65%

77%

82%

69%

61%

81%

78%

89%

85%

81% 82%

0%

20%

40%

60%

80%

100%

Am. Home 

Servicing

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

Servicers

Other SPA 

Servicers

Conversion Rate

Average of Trials Started Before 6/1/10 (42%) Average of Trials Started On/After 6/1/10 (76%)

Of Trials Started Before 6/1/10:

42% Converted to Permanent Modification

0.4% Pending Processing or Decision

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

76% Converted to Permanent Modification

14% Pending Processing or Decision

Conversion Rate1

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

Chart depicts conversion rates as measured against trials eligible to convert – those three months in trial, or four months if the borrower was at risk of imminent default at trial 

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

population.

Following the implementation of verified income 

documentation in June 2010, rates of converting trial 

modifications into permanent modifications have 

substantially risen.

11
Making Home Affordable: Servicer Results

Program Performance Report Through August 2011

Disposition Path 

Homeowners in Canceled HAMP Trial Modifications

Survey Data Through July 2011 (10 Largest Servicers)

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

Servicer

Action 

Pending1

Action Not 

Allowed –

Bankruptcy 

in Process

Borrower

Current

Alternative 

Modification

Payment 

Plan2 Loan Payoff

Short Sale/

Deed-inLieuForeclosure 

Starts

Foreclosure

Completions

Total

(As of July 

2011)

American Home 

Mortgage Servicing Inc. 250 75 195 2,595 40 151 298 685 126 4,415

Bank of America, NA3 36,319 8,121 29,821 73,289 2,140 3,941 15,770 31,168 14,490 215,059

CitiMortgage Inc. 16,779 3,640 5,536 28,830 987 1,449 1,729 9,428 2,047 70,425

GMAC Mortgage, LLC 1,763 403 1,051 5,688 193 443 1,003 1,735 1,620 13,899

JP Morgan Chase Bank 

NA4 6,851 813 4,362 55,162 498 6,150 7,036 23,879 12,179 116,930

Litton Loan Servicing LP 558 587 1,839 13,535 204 184 1,401 618 984 19,910

Ocwen Loan Servicing, 

LLC 626 131 452 2,964 459 38 362 2,027 633 7,692

OneWest Bank 471 644 693 10,396 230 41 1,144 3,332 3,674 20,625

Select Portfolio 

Servicing 1,337 503 1,347 5,471 339 384 1,311 1,812 3,136 15,640

Wells Fargo Bank NA5 1,549 784 12,651 56,414 1,202 16,470 3,096 16,134 9,968 118,268

TOTAL 

(These 10 Largest

Servicers)

66,503

11.0%

15,701

2.6%

57,947

9.6%

254,344

42.2%

6,292

1.0%

29,251

4.9%

33,150

5.5%

90,818

15.1%

48,857

8.1%

602,863

100.0%

Note: Data is as reported by servicers for actions completed through July 31, 2011. Survey data is not subject to the same data quality checks as data uploaded into the HAMP system of record. 1 Trial loans that have been canceled, but no further action has yet been taken. 2 An arrangement with the borrower and servicer that does not involve a formal loan modification. 

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

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

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

The most common causes of 

trial cancellations from all 

servicers are:

• Insufficient documentation

• Trial plan payment default 

• Ineligible borrower: 

first lien housing expense is 

already below 31% of 

household income

12
Making Home Affordable: Servicer Results

Program Performance Report Through August 2011

Disposition Path 

Homeowners Not Accepted for HAMP Trial Modifications

Survey Data Through July 2011 (10 Largest Servicers)

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

Servicer

Action 

Pending1

Action Not 

Allowed –

Bankruptcy 

in Process

Borrower

Current

Alternative 

Modification

Payment 

Plan2 Loan Payoff

Short Sale/

Deed-inLieuForeclosure 

Starts

Foreclosure

Completions

Total

(As of July 

2011)

American Home 

Mortgage Servicing Inc. 1,922 1,222 9,588 34,508 952 1,119 1,991 7,579 1,469 60,350

Bank of America, NA3 74,975 15,410 124,754 87,834 8,318 7,419 34,810 82,394 32,094 468,008

CitiMortgage Inc. 36,918 9,175 6,407 24,964 4,822 15,956 1,464 7,025 7,184 113,915

GMAC Mortgage, LLC 23,247 5,636 34,248 35,580 2,748 3,926 7,863 16,402 12,912 142,562

JP Morgan Chase Bank 

NA4 88,399 6,234 84,410 132,712 1,987 57,689 26,166 70,452 21,303 489,352

Litton Loan Servicing LP 2,592 3,088 11,146 20,446 852 818 5,046 2,779 4,336 51,103

Ocwen Loan Servicing, 

LLC 6,032 1,409 29,052 31,126 4,519 127 402 4,279 2,065 79,011

OneWest Bank 5,068 3,017 24,548 17,344 1,755 1,345 4,188 12,359 9,635 79,259

Select Portfolio 

Servicing 2,696 429 2,888 4,257 403 255 1,067 1,854 1,564 15,413

Wells Fargo Bank NA5 19,530 4,619 54,683 42,889 1,995 20,590 14,815 23,060 14,161 196,342

TOTAL 

(These 10 Largest 

Servicers)

261,379

15.4%

50,239

3.0%

381,724

22.5%

431,660

25.5%

28,351

1.7%

109,244

6.4%

97,812

5.8%

228,183

13.5%

106,723

6.3%

1,695,315

100.0%

Note: Data is as reported by servicers for actions completed through July 31, 2011. Survey data is not subject to the same data quality checks as data uploaded into the HAMP system of record. 1 Homeowners who were not approved for a HAMP trial modification, but no further action has yet been taken. 2 An arrangement with the borrower and servicer that does not involve a formal loan modification. 

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

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

Note: Excludes loans removed from servicing portfolios. 

The most common causes of 

trials not accepted from all 

servicers are:

• Insufficient documentation

• Ineligible borrower: 

first lien housing expense is 

already below 31% of 

household income

• Ineligible mortgage

13
Making Home Affordable: Servicer Results

Program Performance Report Through August 2011

0

10

20

30

40

50

60

70

80

90

Am. Home 

Servicing

Bank of 

America

CitiMortgage GMAC JP Morgan 

Chase

Litton Ocwen OneWest SPS Wells Fargo

Seconds

Program to date, there have been 1,216,117 calls to the Homeowner’s 

HOPETM Hotline regarding a specific SPA servicer, of which 6.7% included 

complaints. Below shows specific complaint rates.

Source: Homeowner’s HOPETM Hotline.

Note: Complaint rate is the share of a specific servicer’s call volume that are complaints (e.g., for all calls about OneWest, 10.1% 

included complaints.)

Homeowner Experience (10 Largest Servicers)

Average Speed to Answer Homeowner Calls (July)

Average Speed to Answer Calls 

to Homeowner’s HOPETM Hotline 

for July: 53 Seconds

Call Abandon Rate (July)

0%

2%

4%

6%

8%

10%

12%

Am. Home 

Servicing

Bank of 

America

CitiMortgage GMAC JP Morgan 

Chase

Litton Ocwen OneWest SPS Wells Fargo

Homeowner’s HOPETM Hotline Average Call 

Abandon Rate for July: 7.5%

Source: Survey data through July 31, 2011, from servicers on call volume to loss mitigation lines; Homeowner’s 

HOPETM Hotline.

Source: Survey data through July 31, 2011, from servicers on call volume to loss mitigation lines; Homeowner’s 

HOPETM Hotline.

Servicer Time to Resolve Third-Party Escalations 

(Cases Reported Feb. 1, 2011 – Aug. 31, 2011)

0

10

20

30

40

50

60

Am. Home 

Servicing

Bank of 

America

CitiMortgage GMAC JP Morgan 

Chase

Litton Ocwen OneWest SPS Wells Fargo

Resolved

Cases 530 7,442 838 484 3,180 275 573 692 120 1,897

Post-2/1/11 Calendar Days

Target: 30 Calendar Days

Source: MHA Support Centers. Escalations resolved on or after Feb. 1, 2011. Investor denial 

cases, cases involving bankruptcy and those that did not require servicer actions are not included 

in calculation of servicer time to resolve escalations. Target of 30 calendar days, effective Feb. 1, 

2011, includes an estimated 5 days of processing by MHA Support Centers. 

Servicer Complaint Rate to Homeowner’s HOPETM Hotline

(Program to Date, Through August)

3%

4%

5%

6%

7%

8%

9%

10%

11%

Am. Home 

Servicing

Bank of 

America

CitiMortgage GMAC JP Morgan 

Chase

Litton Ocwen OneWest SPS Wells Fargo

% of Calls for Specific 

Servicer

Complaints

(PTD): 2,330 28,366 6,540 3,225 16,465 1,652 2,324 258 637 10,520

Program to Date Average: 6.7% 

14
Making Home Affordable: Servicer Results

Program Performance Report Through August 2011

Servicer GSE Private Portfolio

Total Active 

Modifications

American Home Mortgage Servicing Inc. 1,287 24,707 1 25,995

Bank of America, NA1 95,933 59,256 9,769 164,958

CitiMortgage, Inc. 31,224 4,711 16,807 52,742

GMAC Mortgage, LLC 24,598 5,807 11,515 41,920

JP Morgan Chase NA2 55,647 44,812 21,425 121,884

Litton Loan Servicing LP 85 12,003 9 12,097

Ocwen Loan Servicing, LLC 7,157 23,697 108 30,962

OneWest Bank 14,372 14,138 2,429 30,939

Select Portfolio Servicing 518 16,548 2,562 19,628

Wells Fargo Bank, NA 3 50,188 15,670 42,762 108,620

Other HAMP Servicers 137,171 34,110 15,803 187,084

Total 418,180 255,459 123,190 796,829

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

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

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

Note: Figures reflect active trials and active permanent modifications.

Modifications by Investor Type (Large Servicers)

15
Making Home Affordable

Program Performance Report Through August 2011

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

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

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

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

Allstate Mortgage Loans & 

Investments, Inc.

American Eagle Federal Credit Union

American Home Mortgage Servicing, 

Inc

AMS Servicing, LLC

Aurora Loan Services, LLC

Bank of America, N.A.1

Bank United

Bay Federal Credit Union

Bayview Loan Servicing, LLC

Carrington Mortgage Services, LLC

CCO Mortgage

Central Florida Educators Federal 

Credit Union

CitiMortgage, Inc.

Citizens 1st National Bank

Community Bank & Trust Company

Community Credit Union of Florida

CUC Mortgage Corporation

DuPage Credit Union

Fay Servicing, LLC

Fidelity Homestead Savings Bank

First Bank

First Financial Bank, N.A.

Franklin Credit Management 

Corporation

Franklin Savings

Fresno County Federal Credit Union

Glass City Federal Credit Union

GMAC Mortgage, LLC

Grafton Suburban Credit Union

Great Lakes Credit Union

Greater Nevada Mortgage Services

Green Tree Servicing LLC

Hartford Savings Bank

Hillsdale County National Bank

HomEq Servicing

HomeStar Bank & Financial Services

Horicon Bank

Horizon Bank, NA

IBM Southeast Employees' Federal 

Credit Union

IC Federal Credit Union

Idaho Housing and Finance 

Association

iServe Residential Lending LLC

iServe Servicing Inc.

J.P.Morgan Chase Bank, NA2

Lake City Bank

Lake National Bank

Liberty Bank and Trust Co. 

Litton Loan Servicing

Los Alamos National Bank

Magna Bank

Marix Servicing, LLC

Midland Mortgage Company

Midwest Community Bank

Mission Federal Credit Union

Mortgage Center, LLC

Nationstar Mortgage LLC

Navy Federal Credit Union

Ocwen Loan Servicing, LLC

OneWest Bank

ORNL Federal Credit Union

Park View Federal Savings Bank

Pathfinder Bank

PennyMac Loan Services, LLC

PNC Bank, National Association

PNC Mortgage3

Purdue Employees Federal Credit 

Union

QLending, Inc.

Quantum Servicing Corporation

Residential Credit Solutions

RG Mortgage Corporation

RoundPoint Mortgage Servicing 

Corporation

Saxon Mortgage Services, Inc.

Schools Financial Credit Union

SEFCU

Select Portfolio Servicing

Servis One Inc., dba BSI Financial 

Services, Inc.

ShoreBank

Silver State Schools Credit Union

Specialized Loan Servicing, LLC

Sterling Savings Bank

Suburban Mortgage Company of New 

Mexico

Technology Credit Union

The Golden 1 Credit Union

U.S. Bank National Association

United Bank

United Bank Mortgage Corporation

Vantium Capital, Inc.

Vist Financial Corp.

Wealthbridge Mortgage Corp. 

Wells Fargo Bank, NA4

Yadkin Valley Bank

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

LP, Home Loan Services and Wilshire Credit Corporation.

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

3 Formerly National City Bank.

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

Mortgage, FSB. 

Appendix A1: Non-GSE Participants in HAMP

16
Making Home Affordable

Program Performance Report Through August 2011

Second Lien Modification Program (2MP)

Bank of America, NA1

Bayview Loan Servicing, LLC 

CitiMortgage, Inc.

Community Credit Union of Florida

GMAC Mortgage, LLC 

Green Tree Servicing LLC 

iServe Residential Lending, LLC 

iServe Servicing, Inc. 

J.P.Morgan Chase Bank, NA2

Nationstar Mortgage LLC

OneWest Bank

PennyMac Loan Services, LLC

PNC Bank, National Association

PNC Mortgage 3

Residential Credit Solutions 

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

Wells Fargo Bank, NA 4

FHA First Lien Program (Treasury FHA-HAMP)

Amarillo National Bank

American Financial Resources Inc. 

Aurora Financial Group, Inc. 

Aurora Loan Services, LLC 

Banco Popular de Puerto Rico 

Bank of America, NA1

Capital International Financial, Inc. 

CitiMortgage, Inc. 

CU Mortgage Services, Inc. 

First Federal Bank of Florida 

First Mortgage Corporation 

Franklin Savings 

Gateway Mortgage Group, LLC 

GMAC Mortgage, LLC. 

Green Tree Servicing LLC 

Guaranty Bank 

iServe Residential Lending, LLC 

iServe Servicing, Inc. 

James B. Nutter & Company 

J.P.Morgan Chase Bank,NA2

M&T Bank 

Marix Servicing, LLC 

Marsh Associates, Inc. 

Midland Mortgage Company 

Nationstar Mortgage LLC 

Ocwen Loan Servicing, LLC 

PennyMac Loan Services, LLC 

PNC Mortgage 3

RBC Bank (USA) 

Residential Credit Solutions 

Saxon Mortgage Services, Inc. 

Schmidt Mortgage Company 

Select Portfolio Servicing 

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

Stockman Bank of Montana 

Wells Fargo Bank, NA 4

Weststar Mortgage, Inc. 

FHA Second Lien Program (FHA 2LP)

Bank of America, NA1

Bayview Loan Servicing, LLC 

CitiMortgage, Inc. 

Flagstar Capital Markets Corporation 

GMAC Mortgage, LLC. 

Green Tree Servicing LLC

J.P.Morgan Chase Bank, NA2

Nationstar Mortgage LLC 

PNC Bank, National Association 

PNC Mortgage 3

Residential Credit Solutions 

Saxon Mortgage Services, Inc. 

Select Portfolio Servicing 

Wells Fargo Bank, NA 4

Rural Housing Service Modification Program 

(RD-HAMP)

Banco Popular de Puerto Rico

Bank of America, N.A. 1

Horicon Bank 

J.P.Morgan Chase Bank, NA 2

Magna Bank 

Marix Servicing, LLC 

Midland Mortgage Company 

Nationstar Mortgage LLC 

Wells Fargo Bank, NA 4

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

Loan Services and Wilshire Credit Corporation.

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

3 Formerly National City Bank.

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

Appendix A2: Participants in Additional Making Home Affordable Programs

17