Making Home Affordable

Program Performance Report Through April 2011

Report Highlights Inside:

Nearly 700,000 Permanent Modifications Started 

• Homeowners receiving permanent modifications have realized aggregate savings 

in monthly mortgage payments of more than $6.3 billion, program to date. 

• Nearly 29,000 new permanent modifications reported in April, in line with the sixmonth average. 

• Borrowers in active permanent modifications save a median of $526, or 37% of 

their before-modification monthly housing payment. 

• Servicers reported over 29,000 new trial modifications, in line with the average 

for the past six months. 

• Of trial modifications started since June 2010, 70% have been converted to 

permanent modifications. 

• Of trial modifications started since June 2010 that became permanent 

modifications, the average length of a trial modification was 3.5 months, down 

from 5.2 months for trials started before June 2010. 

New This Month: Servicer Assessments

• The Obama Administration sets a new industry benchmark for disclosure on 

assistance to homeowners with the release of detailed Servicer Assessments. 

Beginning with this report, Treasury is publishing quarterly assessments of 

performance by the 10 largest program participants. 

• Going forward, Treasury hopes these assessments will also set the standard for 

transparency about mortgage servicer efforts to assist homeowners.

• For the first quarter of 2011, four servicers have been determined to need 

substantial improvement. Treasury is withholding financial incentives from three 

servicers.

SUMMARY RESULTS:

Snapshot of MHA Programs

Characteristics of First Lien 

Modifications

HAMP Activity by State

HAMP Activity by MSA/

Homeowner Outreach

Aged Trials

2

3

4

5

6

SERVICER RESULTS:

Modification Activity by Servicer

Trial Length

Conversion Rate

Disposition of Homeowners Not in 

HAMP

Homeowner Experience

Modifications by Investor Type

7

8

9

10-11

12

13

APPENDICES:

Participants in MHA Programs 38-39

SERVICER ASSESSMENT RESULTS:

Overview

Servicer Results

Description of Metrics

14-16

17-36

37
Making Home Affordable: Summary Results

Program Performance Report Through April 2011

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.

The Treasury FHA-HAMP Program provides assistance to eligible 

homeowners with FHA-insured mortgages.

All Second Lien Modifications Started 25,478

HAMP Activity: First Lien Modifications

Total

HAMP Eligibility 

(As of Mar. 31, 2011)

Eligible Delinquent Loans1 2,684,832 

Eligible Delinquent Borrowers2 1,095,151

Trial

Modifications

Trial Plan Offers Extended (Cumulative)3 1,819,480

All Trials Started 1,588,034

Trials Reported Since March 2011 Report4 29,011

Trial Modifications Canceled (Cumulative) 753,041

Active Trials 135,940

Permanent 

Modifications

All Permanent Modifications Started 699,053

Permanent Modifications Reported Since 

March 2011 Report 28,867

Permanent Modifications Canceled 

(Cumulative)5 90,438

Active Permanent Modifications 608,615

1 Estimated eligible 60+ day delinquent loans as reported by servicers as of March 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, and loans where the investor pooling and servicing agreements preclude modification. 

Exclusions for DTI and NPV results are estimated using market analytics. Effective March 2011, estimate excludes 

borrowers disqualified from active HAMP trial and permanent modifications. 3 As reported in the weekly servicer survey of large SPA servicers through April 28, 2011. Bank of America has restated 

number of trial offers extended from previous month. 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 

1,242 loans paid off.

Second Lien Modification Program (2MP) Activity 

All Treasury FHA-HAMP Trial Modifications Started 4,261

Treasury FHA-HAMP Permanent Modifications Started 2,739

HAMP is designed to lower monthly mortgage payments to help struggling 

homeowners stay in their homes and prevent avoidable foreclosure. 

Treasury FHA-HAMP Modification Activity

All HAFA Agreements Started1 14,893

HAFA Transactions Completed 7,113

Home Affordable Foreclosure Alternatives (HAFA) Activity

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.

Note: Number of modifications is net of cancellations, which are primarily due to servicer data corrections.

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 Transactions Completed.

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

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

2
Making Home Affordable: Summary Results

Program Performance Report Through April 2011

• The primary hardship reasons for homeowners in active permanent 

modifications are:

• 60.7% experienced loss of income (curtailment of income or 

unemployment)

• 11.4% reported excessive obligation

• 2.8% reported an illness of the principal borrower

Homeowner Benefits and Modification Characteristics

Loan Characteristic

Before 

Modification

After 

Modification

Median 

Decrease

Front-End Debt-to-Income Ratio1 45.3% 31.0% -14.3 pct pts

Back-End Debt-to-Income Ratio2 78.9% 62.1% -14.7 pct pts

Median Monthly Housing 

Payment3 $1,430.35 $832.98 -$526.06

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

HAMP Trials Started

955

1,050

1,137

1,208

1,256 1,282 1,304 1,329 1,352 1,383 1,413 1,444 1,478 1,507

1,539 1,568 1,588

0

50

100

150

200

400

800

1,200

1,600

Dec '09 Jan '10 Feb Mar Apr May June July Aug Sep Oct Nov Dec Jan '11 Feb Mar Apr

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, 29,011 trials have entered the HAMP system of record since the prior report; of those, 20,531 were 

trials with a first payment recorded in April 2011. 

Permanent Modifications Started (Cumulative)

67

117

170

231

299

347

398

435

468

496

520

550

580

608 634

670

699

0

100

200

300

400

500

600

700

Dec '09Jan '10 Feb Mar Apr May June July Aug Sep Oct Nov Dec Jan '11 Feb Mar Apr

All Permanent Modifications Started (000s)

Source: HAMP system of record.

• 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 more than $6.3 

billion, program to date, compared with unmodified mortgage 

obligations.

• The median monthly savings for borrowers in active permanent 

first lien modifications is $526.06, or 37% of the median monthly 

payment before modification. 

• Active permanent modifications feature the following modification steps:

• 100% feature interest rate reductions

• 59.5% offer term extension

• 30.5% include principal forbearance
Making Home Affordable: Summary Results

Program Performance Report Through April 2011

4

Note: Includes active trial and permanent 

modifications from the official HAMP system of 

record.

Source: 1st 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 51 261 312 0.0% MT 172 665 837 0.1%

AL 869 3,496 4,365 0.6% NC 2,330 11,190 13,520 1.8%

AR 305 1,319 1,624 0.2% ND 20 104 124 0.0%

AZ 4,947 28,638 33,585 4.5% NE 208 826 1,034 0.1%

CA 32,860 145,599 178,459 24.0% NH 585 2,826 3,411 0.5%

CO 1,619 8,464 10,083 1.4% NJ 4,361 19,591 23,952 3.2%

CT 1,592 7,703 9,295 1.2% NM 478 1,936 2,414 0.3%

DC 207 1,046 1,253 0.2% NV 3,411 15,676 19,087 2.6%

DE 434 1,884 2,318 0.3% NY 6,737 27,513 34,250 4.6%

FL 17,711 71,953 89,664 12.0% OH 3,080 13,626 16,706 2.2%

GA 5,130 22,155 27,285 3.7% OK 368 1,395 1,763 0.2%

HI 513 2,335 2,848 0.4% OR 1,445 6,628 8,073 1.1%

IA 364 1,545 1,909 0.3% PA 2,826 12,675 15,501 2.1%

ID 528 2,307 2,835 0.4% RI 673 3,203 3,876 0.5%

IL 7,155 32,779 39,934 5.4% SC 1,270 5,758 7,028 0.9%

IN 1,346 5,957 7,303 1.0% SD 43 237 280 0.0%

KS 357 1,438 1,795 0.2% TN 1,486 6,235 7,721 1.0%

KY 542 2,305 2,847 0.4% TX 4,080 15,637 19,717 2.6%

LA 919 3,217 4,136 0.6% UT 1,155 5,750 6,905 0.9%

MA 3,078 15,303 18,381 2.5% VA 2,908 14,932 17,840 2.4%

MD 4,049 19,674 23,723 3.2% VT 115 498 613 0.1%

ME 398 1,678 2,076 0.3% WA 2,852 11,889 14,741 2.0%

MI 4,110 20,217 24,327 3.3% WI 1,370 5,985 7,355 1.0%

MN 1,966 10,889 12,855 1.7% WV 172 929 1,101 0.1%

MO 1,445 6,415 7,860 1.1% WY 54 317 371 0.0%

MS 500 2,368 2,868 0.4% Other2 746 1,649 2,395 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 April 2011

Homeowner Outreach Events Hosted Nationally by 

Treasury and Partners (cumulative) 53

Homeowners Attending Treasury-Sponsored Events 

(cumulative) 52,817

Servicer Solicitation of Borrowers (cumulative)1 7,341,705

Page views on MakingHomeAffordable.gov

(April 2011) 2,181,472

Page views on MakingHomeAffordable.gov (cumulative) 117,607,802

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. 

Note: Bank of America, NA, has restated solicitation numbers from previous month.

Program to 

Date April

Total Number of Calls Taken at 

1-888-995-HOPE 2,204,638 68,217

Borrowers Receiving Free Housing 

Counseling Assistance Through the 

Homeowner’s HOPETM Hotline

1,053,685 32,915

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/

5

Metropolitan Statistical Area

Active

Trials

Permanent

Modifications

Total MSA 

HAMP 

Activity

% of U.S. 

HAMP 

Activity

Los Angeles-Long Beach-Santa Ana, 

CA 9,838 42,493 52,331 7.0%

New York-Northern New Jersey-Long 

Island, NY-NJ-PA 8,600 37,374 45,974 6.2%

Riverside-San Bernardino-Ontario, 

CA 6,619 32,109 38,728 5.2%

Chicago-Joliet-Naperville, IL-IN-WI 

MSA 6,870 31,724 38,594 5.2%

Miami-Fort Lauderdale-Pompano 

Beach, FL 7,511 28,766 36,277 4.9%

Phoenix-Mesa-Glendale, AZ MSA 3,879 23,536 27,415 3.7%

Washington-Arlington-Alexandria, 

DC-VA-MD-WV 3,944 21,125 25,069 3.4%

Atlanta-Sandy Springs-Marietta, GA 4,109 17,891 22,000 3.0%

Las Vegas-Paradise, NV 2,873 12,852 15,725 2.1%

Detroit-Warren-Livonia, MI 2,488 12,244 14,732 2.0%

San Francisco-Oakland-Fremont, CA 2,870 11,390 14,260 1.9%

Orlando-Kissimmee-Sanford, FL 

MSA 2,601 11,419 14,020 1.9%

Boston-Cambridge-Quincy, MA-NH 2,169 10,963 13,132 1.8%

San Diego-Carlsbad-San Marcos, CA 2,304 10,411 12,715 1.7%

Sacramento-Arden-Arcade-Roseville, 

CA 2,336 10,336 12,672 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 April 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

0

50,000

100,000

150,000

200,000

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

Trials Lasting 6 Months or Longer At End of Month

1 Active trials initiated at least six months ago. See page 7 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 has fallen to below 25,400.

Program guidance directs servicers to cancel or convert trial modifications after 

three or four monthly payments, depending on circumstances.

6
Making Home Affordable: Servicer Results

Program Performance Report Through April 2011

As of 

March 31, 2011 Cumulative As of April 30, 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 

March 2011

Report3

Active Trial 

Modifications3

Active Trial 

Modifications 

Lasting 6

Months or 

Longer4

Active 

Permanent 

Modifications3

American Home Mortgage 

Servicing Inc. 42,190 35,443 32,206 24,739 609 3,183 812 21,709

Bank of America, NA5 283,445 488,979 386,308 127,554 7,724 45,809 9,695 109,827

CitiMortgage, Inc. 71,845 176,545 130,438 50,980 893 5,811 1,544 45,459

GMAC Mortgage, LLC 30,381 72,901 60,569 43,051 1,092 3,512 82 37,580

J.P. Morgan Chase Bank, NA6 160,406 306,693 247,686 95,440 5,843 25,454 2,463 79,516

Litton Loan Servicing LP 36,369 41,701 36,846 11,187 735 2,297 166 9,205

Ocwen Loan Servicing, LLC 36,243 47,219 44,145 33,075 903 4,484 1,016 26,632

OneWest Bank 32,490 68,564 51,501 27,284 968 3,353 254 24,482

Select Portfolio Servicing 8,251 67,381 41,480 21,636 283 1,283 99 18,492

Wells Fargo Bank, NA7 137,218 311,911 226,702 96,086 3,650 12,816 1,790 86,235

Other SPA Servicers8 102,039 202,143 205,669 97,459 3,376 11,825 2,247 86,383

Other GSE Servicers9 154,274 NA 124,484 70,562 2,935 16,113 5,222 63,095

Total 1,095,151 1,819,480 1,588,034 699,053 29,011 135,940 25,390 608,615

1 Estimated eligible 60+ day delinquent borrowers as reported by 

servicers as of March 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 excludes: 

 Those in FHA and VA loans.

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

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

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

negative NPV test.

 Owners of vacant properties or properties otherwise excluded.

 HAMP Trials and Permanent Modifications disqualified from HAMP 

(exclusion effective March 2011).

 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 April 28, 2011. Bank of America has restated number of trial 

offers extended from previous month. 3 As reported into the HAMP system of record by servicers. Excludes 

FHA-HAMP modifications. Subject to adjustment based on servicer 

reconciliation of historic loan files. Totals reflect impact of servicing 

transfers. Servicers may enter new trial modifications into the HAMP 

system of record at any time. 4 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.

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. 

New trials reported since March includes the impact of consolidating 

some servicers that were itemized in the March report. 9 Includes servicers of loans owned or guaranteed by Fannie Mae and 

Freddie Mac. Includes GSE loans transferred from SPA servicers.

HAMP Modification Activity by Servicer

7
Making Home Affordable: Servicer Results

Program Performance Report Through April 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, some servicers initiated trials using stated income information. 

3.0

3.3 3.5 3.3

4.8

3.0 3.0

3.7

3.2

3.5 3.3 3.2

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 (5.2) On/After 6/1/10 Average (3.5)

Servicers are directed 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 April 2011

81%

51%

72%

81%

59%

76% 77%

72%

85% 84%

72%

75%

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 (70%)

Of Trials Started Before 6/1/10:

42% Converted to Permanent Modification

1% Pending Processing or Decision

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

70% Converted to Permanent Modification

22% Pending Processing or Decision

Conversion Rate1

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

1 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 risen.

9
Making Home Affordable: Servicer Results

Program Performance Report Through April 2011

Disposition Path 

Homeowners in Canceled HAMP Trial Modifications

Survey Data Through March 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 

March 

2011)

American Home 

Mortgage Servicing Inc. 431 64 165 2,237 31 115 223 546 67 3,879

Bank of America, NA3 43,395 6,408 29,114 71,745 475 3,347 14,661 31,844 7,076 208,065

CitiMortgage Inc. 17,140 3,718 5,656 29,450 1,008 1,480 1,767 9,631 2,091 71,941

GMAC Mortgage, LLC 1,640 440 1,113 5,941 217 364 863 1,676 1,326 13,580

JP Morgan Chase Bank 

NA4 8,230 803 4,185 58,227 531 4,475 6,045 22,964 10,529 115,989

Litton Loan Servicing LP 1,853 577 1,869 13,454 273 157 1,211 1,502 804 21,700

Ocwen Loan Servicing, 

LLC 387 108 377 2,474 383 32 301 1,698 530 6,290

OneWest Bank 612 859 645 10,148 369 26 993 3,998 3,131 20,781

Select Portfolio 

Servicing 1,428 520 1,485 5,657 414 959 631 2,098 2,551 15,743

Wells Fargo Bank NA5 1,823 760 13,481 58,539 983 10,376 4,353 17,222 11,142 118,679

TOTAL 

(These 10 Largest

Servicers)

76,939

12.9%

14,257

2.4%

58,090

9.7%

257,872

43.2%

4,684

0.8%

21,331

3.6%

31,048

5.2%

93,179

15.6%

39,247

6.6%

596,647

100.0%

Note: Data is as reported by servicers for actions completed through March 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

10
Making Home Affordable: Servicer Results

Program Performance Report Through April 2011

Disposition Path 

Homeowners Not Accepted for HAMP Trial Modifications

Survey Data Through March 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 

March 

2011)

American Home 

Mortgage Servicing Inc. 1,319 758 6,136 24,488 680 725 1,337 5,126 830 41,399

Bank of America, NA3 37,259 6,919 69,968 66,672 1,460 3,777 29,543 54,897 19,218 289,713

CitiMortgage Inc. 22,016 8,079 23,181 27,441 5,504 13,085 1,859 7,759 5,787 114,711

GMAC Mortgage, LLC 23,436 6,650 36,764 41,115 4,234 3,140 7,422 20,572 12,393 155,726

JP Morgan Chase Bank 

NA4 77,269 4,542 88,997 118,608 1,583 38,996 17,731 51,057 15,017 413,800

Litton Loan Servicing LP 6,312 3,270 9,685 20,051 1,022 650 4,129 5,889 3,727 54,735

Ocwen Loan Servicing, 

LLC 8,000 1,972 18,551 32,056 7,260 1,547 5,222 16,362 6,156 97,126

OneWest Bank 5,290 3,187 25,228 11,709 2,310 975 3,270 13,569 7,291 72,829

Select Portfolio 

Servicing 2,405 331 2,676 3,497 371 417 444 1,638 1,095 12,874

Wells Fargo Bank NA5 14,320 4,229 44,548 56,702 1,910 13,053 12,038 17,768 13,941 178,509

TOTAL 

(These 10 Largest 

Servicers)

197,626

13.8%

39,937

2.8%

325,734

22.8%

402,339

28.1%

26,334

1.8%

76,365

5.3%

82,995

5.8%

194,637

13.6%

85,455

6.0%

1,431,422

100.0%

Note: Data is as reported by servicers for actions completed through March 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

11
Making Home Affordable: Servicer Results

Program Performance Report Through April 2011

Program to date, there have been 1,084,223 calls to the Homeowner’s 

HOPETM Hotline regarding a specific SPA servicer, of which 6.6% 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, 10.4% 

included complaints.)

Homeowner Experience (10 Largest Servicers)

Average Speed to Answer Homeowner Calls (March)

0

5

10

15

20

25

30

35

40

Am. Home 

Servicing

Bank of 

America

CitiMortgage GMAC JP Morgan 

Chase

Litton Ocwen OneWest SPS Wells Fargo

Seconds

Average Speed to Answer 

Calls to Homeowner’s 

HOPETM Hotline for March: 

13.3 Seconds

Call Abandon Rate (March)

0%

1%

2%

3%

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 March: 2.1%

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

HOPETM Hotline.

Source: Survey data through March 31, 2011, from servicers on call volume to loss mitigation lines; 

Homeowner’s HOPETM Hotline.

Servicer Time to Resolve Third-Party Escalations 

(Program to Date, Through April)

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: 436 5,535 1,118 785 3,259 557 577 791 183 2,836

Cases (PTD) Calendar Days

Target: 30 Calendar Days

Source: HAMP Solutions Center. Target of 30 calendar days, effective Feb. 1, 2011, includes 

an estimated 5 days of processing by HAMP Solutions Center.

Servicer Complaint Rate to Homeowner’s HOPETM Hotline

(Program to Date, Through April)

Calls to 

Servicer: 

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): 1,969 24,033 6,015 2,820 14,325 1,504 2,026 233 566 9,373

Program to Date Average: 6.6% 

12
Making Home Affordable: Servicer Results

Program Performance Report Through April 2011

Servicer GSE Private Portfolio

Total Active 

Modifications

American Home Mortgage Servicing Inc. 1,299 23,590 3 24,892

Bank of America, NA1 91,283 55,510 8,843 155,636

CitiMortgage, Inc. 30,013 4,517 16,740 51,270

GMAC Mortgage, LLC 23,800 6,042 11,250 41,092

JP Morgan Chase NA2 48,123 38,574 18,273 104,970

Litton Loan Servicing LP 87 11,404 11 11,502

Ocwen Loan Servicing, LLC 7,145 23,835 136 31,116

OneWest Bank 13,279 12,423 2,133 27,835

Select Portfolio Servicing 510 16,750 2,515 19,775

Wells Fargo Bank, NA 3 48,380 14,029 36,642 99,051

Other HAMP Servicers 130,388 32,942 14,086 177,416

Total 394,307 239,616 110,632 744,555

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)

13
MHA Servicer Assessment 

Overview

Background

Since the Making Home Affordable Program’s (MHA) inception in the spring 

of 2009, Treasury has monitored the performance of participating mortgage 

servicers. Treasury has been publicly reporting information about servicer 

performance through two types of data: compliance data, which reflects 

servicer compliance with specific MHA guidelines; and program results data, 

which reflects how timely and effectively servicers assist eligible 

homeowners and report program activity. 

When MHA began, most servicers did not have the staff, procedures, or 

systems in place to respond to the volume of homeowners struggling to pay 

their mortgages, or to respond to the housing crisis generally. Very few 

mortgage modifications were even occurring. Treasury sought to get 

servicers to join MHA and to improve their operations quickly, so as to 

implement a national mortgage modification program. 

Through ongoing compliance reviews, Treasury has required participating 

servicers to take specific actions to improve their servicing processes. While 

the servicers have improved their performance, they still have more progress 

to make. Toward that end, Treasury is publishing servicer assessments for 

each of the 10 largest servicers participating in MHA. Not only will the 

assessments provide more transparency to the public about servicer 

performance in the program, but the assessments are also intended to 

encourage servicers to correct identified instances of non-compliance. 

Servicer participation in MHA is voluntary, based on a contract with Treasury. 

Although Treasury does not regulate these institutions and does not have the 

authority to impose fines or penalties, Treasury can, pursuant to the 

contract, take certain remedial actions against servicers not in compliance 

with MHA guidelines. Such remedial actions include requiring servicers to 

correct identified instances of non-compliance, as noted above. In addition, 

Treasury can implement financial remedies such as withholding incentive 

payments owed to servicers. Such incentive payments, which are the only 

payments Treasury makes for the benefit of servicers under the program, 

include payments for every successful permanent modification under the 

Home Affordable Modification Program, and payments for completed short 

sale/deed-in-lieu pursuant to the Home Affordable Foreclosure Alternative 

Program.

It is important to note that Treasury’s compliance work related to MHA 

applies only to those servicers that have agreed to participate in MHA for 

mortgage loans that are not owned or guaranteed by Fannie Mae or Freddie 

Mac (Government Sponsored Enterprises, or GSEs). Treasury cannot and 

does not perform compliance reviews of (1) mortgage loans or activities that 

fall outside of MHA, (2) GSE loans or (3) those loans insured through the 

Federal Housing Administration. For each servicer, the loans that are eligible 

for MHA represent only a portion of that servicer’s overall mortgage 

servicing operation.

Treasury’s foremost goal is to assist struggling homeowners who may be 

eligible for MHA. These servicer assessments set a new benchmark for 

providing detailed information about how mortgage servicers are performing 

against key metrics. But, in addition to this direct effect, MHA has had an 

important indirect effect on the market as well. MHA has established 

standards that have improved mortgage modifications across the industry, 

and has led to important changes in the way mortgage servicers assist 

struggling homeowners generally. These changes include standards for how 

mortgage modifications should be designed so that they are sustainable, 

standards for communications with homeowners so that the process is as 

efficient and as understandable as possible, and a variety of standards for 

protecting homeowners, such as prohibitions on “dual tracking” –

simultaneously evaluating a homeowner for a modification while proceeding 

to foreclose. Going forward, Treasury hopes these assessments will also set 

the standard for transparency about mortgage servicer efforts to assist 

homeowners.

Below are general descriptions of the data, the evaluation process, and the 

consequences for servicers needing improvement.

(Continued on next page)

14
MHA Servicer Assessment 

Overview

The Performance Data: Compliance and Program Results

Freddie Mac, acting as Treasury’s compliance agent for MHA, has created a 

separate division known as Making Home Affordable–Compliance (MHA-C) to 

evaluate servicer performance through audits of program compliance. MHA-C 

tests and evaluates a range of servicer activities for compliance with MHA 

guidelines. Once MHA-C’s reviews are complete, MHA-C shares its results 

with the servicers and identifies areas that need remediation. Each 

compliance activity tested falls into one of three overall compliance categories 

– Identifying and Contacting Homeowners, Homeowner Evaluation and 

Assistance, and Program Management, Reporting and Governance. The 

compliance results shared with the servicers are then used to generate the 

servicer assessments. 

The assessments highlight particular compliance activities tested by MHA-C 

that had significant impact on homeowners and include for those highlighted 

activities a one-star, two-star, or three-star rating for the most recent 

evaluations. One star means the servicer did not meet Treasury’s benchmark 

required for that particular activity, and the servicer needs substantial 

improvement in its performance of that activity. Two stars mean the servicer 

did not meet Treasury’s benchmark required for that particular activity, and 

the servicer needs moderate improvement in its performance of that activity. 

Three stars mean the servicer met Treasury’s benchmark required for that 

particular activity, but the servicer may nonetheless need minor improvement 

in its performance of that activity.

Although the compliance reviews emphasize objective measurements and 

observed facts, compliance reviews still involve a certain level of judgment. 

Compliance reviews are also retrospective in nature – looking backward, not 

forward, which means that activities identified as needing improvement in a 

given quarter may already be under remediation by the servicer. In addition, 

not every compliance activity is evaluated every quarter, which means that a 

rating from one quarter might carry forward to the subsequent quarter’s 

assessment if that activity was not retested in that subsequent quarter. 

Finally, the compliance reviews use “sampling” as a testing methodology. 

Sampling, an industry-accepted auditing technique, looks at a subset of a 

particular population of activity transactions, rather than the entirety of the 

population of activity transactions, to extrapolate a servicer’s overall 

performance in that particular activity. 

In addition to the ratings for compliance data, the assessments also include 

program results metrics. Fannie Mae, acting as Treasury’s program 

administrator for MHA, collects servicer data used to measure program 

results. These metrics are key indicators of how timely and effectively 

servicers assist eligible homeowners under MHA guidelines and report 

program data. Although the servicers are not given an overall rating for this 

data, the results metrics nonetheless compare a servicer’s performance for a 

given quarter against the “best” and “worst” performing servicer of the 10 

largest servicers participating in the program. The results metrics provide a 

snapshot of how each of those servicers compares in specific areas under 

MHA. 

The Determination Process: Results of the Data

Treasury reviews the compliance data and ratings, the program results 

metrics, and other relevant factors affecting servicer performance in 

determining whether a servicer needs substantial improvement, moderate 

improvement, or minor improvement to its performance under MHA 

guidelines. The assessments summarize the significant factors impacting those 

decisions. Based on those assessments, Treasury takes remedial action against 

servicers. Page 16 summarizes the overall level of improvement needed for 

each servicer. 

Consequences for Servicers

For servicers in need of substantial improvement, Treasury will, absent 

extenuating circumstances, withhold financial incentives owed to those 

servicers until they make certain identified improvements. In certain cases, 

particularly where there is a failure to correct identified problems within a 

reasonable time, Treasury may also permanently reduce the financial 

incentives. Servicers in need of moderate improvement will be subject to 

withholding in the future if they fail to make certain identified improvements. 

All withholdings apply only to incentives owed to servicers for their 

participation in MHA; these withholdings do not apply to incentives paid to 

servicers for the benefit of homeowners or investors. 

Additional Information

See the “Metrics Description” on page 37 for a description of each of the 

compliance and results metrics presented in the assessments. For more 

information on the assessments, please visit: www.FinancialStability.gov. 15
MHA Servicer Assessment 

Overview

Servicer Assessment Results

The following table details the results of the Servicer Assessments, based on compliance and program results:

Improvement Needed Servicer Name

Substantial

Bank of America, NA

J.P. Morgan Chase Bank, NA

Ocwen Loan Servicing, LLC

Wells Fargo Bank, NA

Moderate

American Home Mortgage Servicing, Inc.

CitiMortgage, Inc.

GMAC Mortgage, LLC

Litton Loan Servicing LP

OneWest Bank

Select Portfolio Servicing

Beginning this month, Treasury will withhold servicer incentives owed to three of the four servicers requiring substantial improvement

until those servicers make certain identified improvements.1

For those servicers requiring moderate improvement, Treasury is not withholding servicer incentives for this quarter. However, those 

servicers that fail to improve those areas identified will be subject to servicer incentive withholding in the future.

No servicer has been identified as needing only minor improvement for this quarter.

Please refer to the following MHA Servicer Assessment pages for further detail on the First Quarter 2011 servicer assessment results.

1 Treasury will not withhold servicer incentives owed to Ocwen Loan Servicing, LLC for this quarter. Because Ocwen’s compliance results for the first 

quarter 2011 were substantially and negatively affected by its acquisition of a large servicing portfolio during the compliance testing period, Treasury 

determined that withholding servicer incentives was not warranted for this quarter. Treasury will withhold servicer incentives from Ocwen if future 

compliance results do not indicate improvements. 16
MHA Servicer Assessment: 

Compliance Results

American Home Mortgage Servicing Inc. 

17

Overview 

 These metrics reflect the results of compliance reviews of the servicer's adherence to MHA Program Requirements. 

 Quantitative results reflect percentages of tests that did not have a desired outcome.

 Servicers are rated qualitatively on the effectiveness of their internal controls in the three Performance Categories as well as for each quantitative result.

Performance Category Metric Benchmark Servicer Result Rating



< 4% 1.0% 



< 10% 5.3% 



 - 1



< 5% 14.0% 



 - 1



< 5% 4.0% 



 - 1

1 - Rating carried forward from prior quarter

Result

 Met benchmark; minor improvement may be indicated 

 Did not meet benchmark; moderate improvement needed 

 Did not meet benchmark; substantial improvement needed



First Quarter 2011

 Identifying and Contacting Homeowners

Assesses whether the servicer identifies and communicates 

appropriately with potentially eligible MHA homeowners.

Second Look % Disagree

Percentage of loans reviewed where MHA-C did not concur with the servicer's 

MHA determination

Second Look % Unable to Determine

Percentage of loans reviewed where MHA-C was not able to conclude on the 

servicer's MHA determination

Internal Controls for Identifying and Contacting Homeowners

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

American Home Mortgage Servicing Inc. has areas requiring moderate improvement.

After considering all relevant factors, American Home Mortgage Servicing Inc. servicer 

incentives will not be withheld at this time.

Withholding may commence next quarter if American Home Mortgage Servicing Inc. fails to 

demonstrate improvement in the next assessment.

 Rating Legend

 Homeowner Evaluation and Assistance

Assesses whether servicer correctly evaluates homeowners' 

eligibility for MHA programs, communicates decisions in a 

timely manner, and accurately executes appropriate MHA 

activities.

Income Calculation Error %

Percentage of loans for which MHA-C's income calculation differs from the 

servicer's by more than 5%

Internal Controls for Homeowner Evaluation and Assistance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

 Program Management, Reporting, and Governance

Assesses whether the servicer has effective program 

management, governance processes, and timely and correct 

submission of program reports and program information.

Incentive Payment Data Errors

Average percentage of difference in calculated incentives resulting from data 

discrepancies between servicer files and the MHA system of record

Internal Controls for Program Management, Reporting, and 

Governance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines
MHA Servicer Assessment: 

Program Results

Conversion Rate for Trials Started 

On or After 6/1/2010

Average Calendar Days to Resolve 

Escalated Cases

Note: the best and worst performance reflect the best and worst result of the largest 10 servicers for the period. See appendix for descriptions of the metrics.

Missing Modification Status Reports (%)

Aged Trials as a Percentage

of Active Trials

29%

27%

2%

49%

31%

2%

0% 20% 40% 60%

Worst 

Servicer

Performance

American Home 

Mortgage 

Servicing Inc.

Best

Servicer

Performance

54%

78%

84%

26%

59%

78%

0% 50% 100%

Worst 

Servicer

Performance

American Home 

Mortgage 

Servicing Inc.

Best

Servicer

Performance

58

41

19

46

38

24

0 20 40 60 80

Worst 

Servicer

Performance

American Home 

Mortgage 

Servicing Inc.

Best

Servicer

Performance

3.9%

0.6%

0.0%

19.1%

0.1%

0.0%

0% 10% 20% 30%

Worst 

Servicer

Performance

American Home 

Mortgage 

Servicing Inc.

Best

Servicer

Performance

Results as of:

Dec. 2010

March 2011

American Home Mortgage Servicing Inc. 

18
MHA Servicer Assessment: 

Compliance Results

Bank of America, NA 

19

Overview 

 These metrics reflect the results of compliance reviews of the servicer's adherence to MHA Program Requirements. 

 Quantitative results reflect percentages of tests that did not have a desired outcome.

 Servicers are rated qualitatively on the effectiveness of their internal controls in the three Performance Categories as well as for each quantitative result.

Performance Category Metric Benchmark Servicer Result Rating



< 4% 1.5% 



< 10% 18.8% 



 - 



< 5% 22.0% 1



 - 



< 5% 11.5% 1



 - 

1 - Rating carried forward from prior quarter

Result

 Met benchmark; minor improvement may be indicated 

 Did not meet benchmark; moderate improvement needed 

 Did not meet benchmark; substantial improvement needed



First Quarter 2011

Incentive Payment Data Errors

Average percentage of difference in calculated incentives resulting from data 

discrepancies between servicer files and the MHA system of record

Internal Controls for Program Management, Reporting, and 

Governance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

 Identifying and Contacting Homeowners

Assesses whether the servicer identifies and communicates 

appropriately with potentially eligible MHA homeowners.

Second Look % Disagree

Percentage of loans reviewed where MHA-C did not concur with the servicer's 

MHA determination

Second Look % Unable to Determine

Percentage of loans reviewed where MHA-C was not able to conclude on the 

servicer's MHA determination

Internal Controls for Identifying and Contacting Homeowners

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

 Homeowner Evaluation and Assistance

Assesses whether servicer correctly evaluates homeowners' 

eligibility for MHA programs, communicates decisions in a 

timely manner, and accurately executes appropriate MHA 

activities.

Income Calculation Error %

Percentage of loans for which MHA-C's income calculation differs from the 

servicer's by more than 5%

Internal Controls for Homeowner Evaluation and Assistance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

 Program Management, Reporting, and Governance

Assesses whether the servicer has effective program 

management, governance processes, and timely and correct 

submission of program reports and program information.

 Rating Legend

Bank of America, NA has areas requiring substantial improvement.

After considering all relevant factors, Bank of America, NA servicer incentives will be withheld 

at this time.

Permanent reductions of incentives may commence in subsequent quarters if Bank of America, 

NA fails to demonstrate improvement. 
MHA Servicer Assessment: 

Program Results

Results as of:

Dec. 2010

March 2011

Conversion Rate for Trials Started 

On or After 6/1/2010

Average Calendar Days to Resolve 

Escalated Cases

Aged Trials as a Percentage

of Active Trials

Missing Modification Status Reports (%)

Note: the best and worst performance reflect the best and worst result of the largest 10 servicers for the period. See appendix for descriptions of the metrics.

3.9%

3.9%

0.0%

19.1%

19.1%

0.0%

0% 10% 20% 30%

Worst

Servicer

Performance

Bank of 

America, NA

Best

Servicer

Performance

29%

22%

2%

49%

28%

2%

0% 20% 40% 60%

Worst

Servicer

Performance

Bank of 

America, NA

Best

Servicer

Performance

54%

54%

84%

26%

26%

78%

0% 50% 100%

Worst

Servicer

Performance

Bank of 

America, NA

Best

Servicer

Performance

58

58

19

46

46

24

0 20 40 60 80

Worst

Servicer

Performance

Bank of 

America, NA

Best

Servicer

Performance

Bank of America, NA 

20
MHA Servicer Assessment: 

Compliance Results

CitiMortgage, Inc. 

21

Overview 

 These metrics reflect the results of compliance reviews of the servicer's adherence to MHA Program Requirements. 

 Quantitative results reflect percentages of tests that did not have a desired outcome.

 Servicers are rated qualitatively on the effectiveness of their internal controls in the three Performance Categories as well as for each quantitative result.

Performance Category Metric Benchmark Servicer Result Rating



< 4% 2.0% 



< 10% 13.3% 



 - 



< 5% 10.0% 



 - 



< 5% 9.3% 



 - 

Result

 Met benchmark; minor improvement may be indicated 

 Did not meet benchmark; moderate improvement needed 

 Did not meet benchmark; substantial improvement needed



 Rating Legend

CitiMortgage, Inc. has areas requiring moderate improvement.

After considering all relevant factors, CitiMortgage, Inc. servicer incentives will not be withheld 

at this time.

Withholding may commence next quarter if CitiMortgage, Inc. fails to demonstrate improvement 

in the next assessment.

 Homeowner Evaluation and Assistance

Assesses whether servicer correctly evaluates homeowners' 

eligibility for MHA programs, communicates decisions in a 

timely manner, and accurately executes appropriate MHA 

activities.

Income Calculation Error %

Percentage of loans for which MHA-C's income calculation differs from the 

servicer's by more than 5%

Internal Controls for Homeowner Evaluation and Assistance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

 Program Management, Reporting, and Governance

Assesses whether the servicer has effective program 

management, governance processes, and timely and correct 

submission of program reports and program information.

Incentive Payment Data Errors

Average percentage of difference in calculated incentives resulting from data 

discrepancies between servicer files and the MHA system of record

Internal Controls for Program Management, Reporting, and 

Governance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

First Quarter 2011

 Identifying and Contacting Homeowners

Assesses whether the servicer identifies and communicates 

appropriately with potentially eligible MHA homeowners.

Second Look % Disagree

Percentage of loans reviewed where MHA-C did not concur with the servicer's 

MHA determination

Second Look % Unable to Determine

Percentage of loans reviewed where MHA-C was not able to conclude on the 

servicer's MHA determination

Internal Controls for Identifying and Contacting Homeowners

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines
MHA Servicer Assessment: 

Program Results

Conversion Rate for Trials Started 

On or After 6/1/2010

Average Calendar Days to Resolve 

Escalated Cases

Note: the best and worst performance reflect the best and worst result of the largest 10 servicers for the period. See appendix for descriptions of the metrics.

Missing Modification Status Reports (%)

Aged Trials as a Percentage

of Active Trials

29%

29%

2%

49%

49%

2%

0% 20% 40% 60%

Worst 

Servicer

Performance

CitiMortgage, Inc.

Best 

Servicer

Performance

54%

73%

84%

26%

70%

78%

0% 20% 40% 60% 80% 100%

Worst 

Servicer

Performance

CitiMortgage, Inc.

Best 

Servicer

Performance

58

40

19

46

35

24

0 20 40 60 80

Worst 

Servicer

Performance

CitiMortgage, Inc.

Best 

Servicer

Performance

3.9%

1.0%

0.0%

19.1%

3.2%

0.0%

0% 5% 10% 15% 20% 25%

Worst 

Servicer

Performance

CitiMortgage, Inc.

Best 

Servicer

Performance

Results as of:

Dec. 2010

March 2011

CitiMortgage, Inc. 

22
MHA Servicer Assessment: 

Compliance Results

GMAC Mortgage, LLC

23

Overview 

 These metrics reflect the results of compliance reviews of the servicer's adherence to MHA Program Requirements. 

 Quantitative results reflect percentages of tests that did not have a desired outcome.

 Servicers are rated qualitatively on the effectiveness of their internal controls in the three Performance Categories as well as for each quantitative result.

Performance Category Metric Benchmark Servicer Result Rating



< 4% 4.7% 



< 10% 8.3% 



 - 1



< 5% 6.0% 



 - 1



< 5% 7.6% 



 - 1

1 - Rating carried forward from prior quarter

Result

 Met benchmark; minor improvement may be indicated 

 Did not meet benchmark; moderate improvement needed 

 Did not meet benchmark; substantial improvement needed



 Rating Legend

GMAC Mortgage, LLC has areas requiring moderate improvement.

After considering all relevant factors, GMAC Mortgage, LLC servicer incentives will not be 

withheld at this time.

Withholding may commence next quarter if GMAC Mortgage, LLC fails to demonstrate 

improvement in the next assessment.

 Homeowner Evaluation and Assistance

Assesses whether servicer correctly evaluates homeowners' 

eligibility for MHA programs, communicates decisions in a 

timely manner, and accurately executes appropriate MHA 

activities.

Income Calculation Error %

Percentage of loans for which MHA-C's income calculation differs from the 

servicer's by more than 5%

Internal Controls for Homeowner Evaluation and Assistance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

 Program Management, Reporting, and Governance

Assesses whether the servicer has effective program 

management, governance processes, and timely and correct 

submission of program reports and program information.

Incentive Payment Data Errors

Average percentage of difference in calculated incentives resulting from data 

discrepancies between servicer files and the MHA system of record

Internal Controls for Program Management, Reporting, and 

Governance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

First Quarter 2011

 Identifying and Contacting Homeowners

Assesses whether the servicer identifies and communicates 

appropriately with potentially eligible MHA homeowners.

Second Look % Disagree

Percentage of loans reviewed where MHA-C did not concur with the servicer's 

MHA determination

Second Look % Unable to Determine

Percentage of loans reviewed where MHA-C was not able to conclude on the 

servicer's MHA determination

Internal Controls for Identifying and Contacting Homeowners

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines
MHA Servicer Assessment: 

Program Results

Conversion Rate for Trials Started 

On or After 6/1/2010

Average Calendar Days to Resolve 

Escalated Cases

Note: the best and worst performance reflect the best and worst result of the largest 10 servicers for the period. See appendix for descriptions of the metrics.

Missing Modification Status Reports (%)

Aged Trials as a Percentage

of Active Trials

29%

2%

2%

49%

2%

2%

0% 10% 20% 30% 40% 50% 60%

Worst

Servicer

Performance

GMAC 

Mortgage, LLC

Best 

Servicer

Performance

54%

79%

84%

26%

78%

78%

0% 20% 40% 60% 80% 100%

Worst

Servicer

Performance

GMAC 

Mortgage LLC

Best 

Servicer

Performance

58

29

19

46

24

24

0 20 40 60 80

Worst

Servicer

Performance

GMAC 

Mortgage LLC

Best 

Servicer

Performance

Results as of:

Dec. 2010

March 2011

GMAC Mortgage, LLC

3.9%

1.4%

0.0%

19.1%

1.7%

0.0%

0% 5% 10% 15% 20% 25%

Worst

Servicer

Performance

GMAC 

Mortgage LLC

Best 

Servicer

Performance

24
MHA Servicer Assessment: 

Compliance Results

J.P. Morgan Chase Bank, NA

25

Overview 

 These metrics reflect the results of compliance reviews of the servicer's adherence to MHA Program Requirements. 

 Quantitative results reflect percentages of tests that did not have a desired outcome.

 Servicers are rated qualitatively on the effectiveness of their internal controls in the three Performance Categories as well as for each quantitative result.

Performance Category Metric Benchmark Servicer Result Rating



< 4% 1.6% 



< 10% 11.3% 



 - 



< 5% 31.0% 1



 - 



< 5% 5.6% 1



 - 

1 - Rating carried forward from prior quarter

Result

 Met benchmark; minor improvement may be indicated 

 Did not meet benchmark; moderate improvement needed 

 Did not meet benchmark; substantial improvement needed



First Quarter 2011

 Identifying and Contacting Homeowners

Assesses whether the servicer identifies and communicates 

appropriately with potentially eligible MHA homeowners.

Second Look % Disagree

Percentage of loans reviewed where MHA-C did not concur with the servicer's 

MHA determination

Second Look % Unable to Determine

Percentage of loans reviewed where MHA-C was not able to conclude on the 

servicer's MHA determination

Internal Controls for Identifying and Contacting Homeowners

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

 Homeowner Evaluation and Assistance

Assesses whether servicer correctly evaluates homeowners' 

eligibility for MHA programs, communicates decisions in a 

timely manner, and accurately executes appropriate MHA 

activities.

Income Calculation Error %

Percentage of loans for which MHA-C's income calculation differs from the 

servicer's by more than 5%

Internal Controls for Homeowner Evaluation and Assistance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

 Program Management, Reporting, and Governance

Assesses whether the servicer has effective program 

management, governance processes, and timely and correct 

submission of program reports and program information.

Incentive Payment Data Errors

Average percentage of difference in calculated incentives resulting from data 

discrepancies between servicer files and the MHA system of record

Internal Controls for Program Management, Reporting, and 

Governance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

 Rating Legend

J.P. Morgan Chase Bank, NA has areas requiring substantial improvement.

After considering all relevant factors, J.P. Morgan Chase Bank, NA servicer incentives will be 

withheld at this time.

Permanent reductions of incentives may commence in subsequent quarters if J.P. Morgan Chase 

Bank, NA fails to demonstrate improvement. 
MHA Servicer Assessment: 

Program Results

Conversion Rate for Trials Started 

On or After 6/1/2010

Average Calendar Days to Resolve 

Escalated Cases

Note: the best and worst performance reflect the best and worst result of the largest 10 servicers for the period. See appendix for descriptions of the metrics.

Missing Modification Status Reports (%)

.

Aged Trials as a Percentage

of Active Trials

29%

9%

2%

49%

16%

2%

0% 10% 20% 30% 40% 50% 60%

Worst 

Servicer

Performance

JP Morgan 

Chase Bank, NA

Best 

Servicer

Performance

54%

57%

84%

26%

40%

78%

0% 20% 40% 60% 80% 100%

Worst 

Servicer

Performance

JP Morgan 

Chase Bank, NA

Best 

Servicer

Performance

58

55

19

46

45

24

0 20 40 60 80

Worst 

Servicer

Performance

JP Morgan 

Chase Bank, NA

Best 

Servicer

Performance

3.9%

0.7%

0.0%

19.1%

0.3%

0.0%

0% 5% 10% 15% 20% 25%

Worst 

Servicer

Performance

JP Morgan 

Chase Bank, NA

Best 

Servicer

Performance

Results as of:

Dec. 2010

March 2011

J.P. Morgan Chase Bank, NA

26
MHA Servicer Assessment: 

Compliance Results

Litton Loan Servicing, LP

27

Overview 

 These metrics reflect the results of compliance reviews of the servicer's adherence to MHA Program Requirements. 

 Quantitative results reflect percentages of tests that did not have a desired outcome.

 Servicers are rated qualitatively on the effectiveness of their internal controls in the three Performance Categories as well as for each quantitative result.

Performance Category Metric Benchmark Servicer Result Rating



< 4% 3.7% 



< 10% 6.3% 



 - 1



< 5% 6.0% 1



 - 



< 5% 8.1% 1



 - 1

1 - Rating carried forward from prior quarter

Result

 Met benchmark; minor improvement may be indicated 

 Did not meet benchmark; moderate improvement needed 

 Did not meet benchmark; substantial improvement needed



 Homeowner Evaluation and Assistance

Assesses whether servicer correctly evaluates homeowners' 

eligibility for MHA programs, communicates decisions in a 

timely manner, and accurately executes appropriate MHA 

activities.

Income Calculation Error %

Percentage of loans for which MHA-C's income calculation differs from the 

servicer's by more than 5%

Internal Controls for Homeowner Evaluation and Assistance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

 Program Management, Reporting, and Governance

Assesses whether the servicer has effective program 

management, governance processes, and timely and correct 

submission of program reports and program information.

Incentive Payment Data Errors

Average percentage of difference in calculated incentives resulting from data 

discrepancies between servicer files and the MHA system of record

Internal Controls for Program Management, Reporting, and 

Governance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

 Rating Legend

Litton Loan Servicing LP has areas requiring moderate improvement.

After considering all relevant factors, Litton Loan Servicing LP servicer incentives will not be 

withheld at this time.

Withholding may commence next quarter if Litton Loan Servicing LP fails to demonstrate 

improvement in the next assessment.

First Quarter 2011

 Identifying and Contacting Homeowners

Assesses whether the servicer identifies and communicates 

appropriately with potentially eligible MHA homeowners.

Second Look % Disagree

Percentage of loans reviewed where MHA-C did not concur with the servicer's 

MHA determination

Second Look % Unable to Determine

Percentage of loans reviewed where MHA-C was not able to conclude on the 

servicer's MHA determination

Internal Controls for Identifying and Contacting Homeowners

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines
MHA Servicer Assessment: 

Program Results

Conversion Rate for Trials Started 

On or After 6/1/2010

Average Calendar Days to Resolve 

Escalated Cases

Missing Modification Status Reports (%)

Note: the best and worst performance reflect the best and worst result of the largest 10 servicers for the period. See appendix for descriptions of the metrics.

Aged Trials as a Percentage

of Active Trials

29%

11%

2%

49%

12%

2%

0% 10% 20% 30% 40% 50% 60%

Worst

Servicer

Performance

Litton Loan 

Servicing, LP

Best 

Servicer

Performance

54%

74%

84%

26%

68%

78%

0% 20% 40% 60% 80% 100%

Worst

Servicer

Performance

Litton Loan 

Servicing, LP

Best 

Servicer

Performance

58

32

19

46

29

24

0 20 40 60 80

Worst

Servicer

Performance

Litton Loan 

Servicing, LP

Best 

Servicer

Performance

3.9%

0.2%

0.0%

19.1%

0.0%

0.0%

0% 5% 10% 15% 20% 25%

Worst

Servicer

Performance

Litton Loan 

Servicing, LP

Best 

Servicer

Performance

Results as of:

Dec. 2010

March 2011

Litton Loan Servicing, LP

28
MHA Servicer Assessment: 

Compliance Results

Ocwen Loan Servicing, LLC

29

Overview 

 These metrics reflect the results of compliance reviews of the servicer's adherence to MHA Program Requirements. 

 Quantitative results reflect percentages of tests that did not have a desired outcome.

 Servicers are rated qualitatively on the effectiveness of their internal controls in the three Performance Categories as well as for each quantitative result.

Performance Category Metric Benchmark Servicer Result Rating



< 4% 6.7% 



< 10% 10.3% 



 - 



< 5% 33.0% 



 - 



< 5% 11.5% 



 - 

Result

 Met benchmark; minor improvement may be indicated 

 Did not meet benchmark; moderate improvement needed 

 Did not meet benchmark; substantial improvement needed



 Rating Legend

Ocwen Loan Servicing, LLC has areas requiring substantial improvement.

After considering all relevant factors, including the acquisition of a large servicing portfolio 

during the compliance testing period, Ocwen Loan Servicing, LLC servicer incentives will not be 

withheld at this time.

Treasury will withhold servicer incentives from Ocwen Loan Servicing, LLC if future compliance 

results do not indicate improvement.

 Homeowner Evaluation and Assistance

Assesses whether servicer correctly evaluates homeowners' 

eligibility for MHA programs, communicates decisions in a 

timely manner, and accurately executes appropriate MHA 

activities.

Income Calculation Error %

Percentage of loans for which MHA-C's income calculation differs from the 

servicer's by more than 5%

Internal Controls for Homeowner Evaluation and Assistance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

 Program Management, Reporting, and Governance

Assesses whether the servicer has effective program 

management, governance processes, and timely and correct 

submission of program reports and program information.

Incentive Payment Data Errors

Average percentage of difference in calculated incentives resulting from data 

discrepancies between servicer files and the MHA system of record

Internal Controls for Program Management, Reporting, and 

Governance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

First Quarter 2011

 Identifying and Contacting Homeowners

Assesses whether the servicer identifies and communicates 

appropriately with potentially eligible MHA homeowners.

Second Look % Disagree

Percentage of loans reviewed where MHA-C did not concur with the servicer's 

MHA determination

Second Look % Unable to Determine

Percentage of loans reviewed where MHA-C was not able to conclude on the 

servicer's MHA determination

Internal Controls for Identifying and Contacting Homeowners

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines
MHA Servicer Assessment: 

Program Results

Conversion Rate for Trials Started 

On or After 6/1/2010

Note: the best and worst performance reflect the best and worst result of the largest 10 servicers for the period. See appendix for descriptions of the metrics.

Missing Modification Status Reports (%)

Aged Trials as a Percentage

of Active Trials

29%

20%

2%

49%

30%

2%

0% 10% 20% 30% 40% 50% 60%

Worst 

Servicer

Performance

Ocwen Loan 

Servicing, LLC

Best 

Servicer

Performance

54%

76%

84%

26%

77%

78%

0% 20% 40% 60% 80% 100%

Worst 

Servicer

Performance

Ocwen Loan 

Servicing, LLC

Best 

Servicer

Performance

58

55

19

46

24

0 20 40 60 80

Worst 

Servicer

Performance

Ocwen Loan 

Servicing, LLC

Best 

Servicer

Performance

Average Calendar Days to Resolve 

Escalated Cases

Note: December 2010 data is unavailable for 

this servicer.

3.9%

0.4%

0.0%

19.1%

0.5%

0.0%

0% 5% 10% 15% 20% 25%

Worst 

Servicer

Performance

Ocwen Loan 

Servicing, LLC

Best 

Servicer

Performance

Results as of:

Dec. 2010

March 2011

N/A

Ocwen Loan Servicing, LLC

30
MHA Servicer Assessment: 

Compliance Results

One West Bank

31

Overview 

 These metrics reflect the results of compliance reviews of the servicer's adherence to MHA Program Requirements. 

 Quantitative results reflect percentages of tests that did not have a desired outcome.

 Servicers are rated qualitatively on the effectiveness of their internal controls in the three Performance Categories as well as for each quantitative result.

Performance Category Metric Benchmark Servicer Result Rating



< 4% 6.7% 



< 10% 3.7% 



 - 1



< 5% 11.0% 1



 - 



< 5% 6.7% 1



 - 1

1 - Rating carried forward from prior quarter

Result

 Met benchmark; minor improvement may be indicated 

 Did not meet benchmark; moderate improvement needed 

 Did not meet benchmark; substantial improvement needed



 Rating Legend

OneWest Bank has areas requiring moderate improvement.

After considering all relevant factors, OneWest Bank servicer incentives will not be withheld at 

this time.

Withholding may commence next quarter if OneWest Bank fails to demonstrate improvement in 

the next assessment.

 Homeowner Evaluation and Assistance

Assesses whether servicer correctly evaluates homeowners' 

eligibility for MHA programs, communicates decisions in a 

timely manner, and accurately executes appropriate MHA 

activities.

Income Calculation Error %

Percentage of loans for which MHA-C's income calculation differs from the 

servicer's by more than 5%

Internal Controls for Homeowner Evaluation and Assistance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

 Program Management, Reporting, and Governance

Assesses whether the servicer has effective program 

management, governance processes, and timely and correct 

submission of program reports and program information.

Incentive Payment Data Errors

Average percentage of difference in calculated incentives resulting from data 

discrepancies between servicer files and the MHA system of record

Internal Controls for Program Management, Reporting, and 

Governance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

First Quarter 2011

 Identifying and Contacting Homeowners

Assesses whether the servicer identifies and communicates 

appropriately with potentially eligible MHA homeowners.

Second Look % Disagree

Percentage of loans reviewed where MHA-C did not concur with the servicer's 

MHA determination

Second Look % Unable to Determine

Percentage of loans reviewed where MHA-C was not able to conclude on the 

servicer's MHA determination

Internal Controls for Identifying and Contacting Homeowners

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines
MHA Servicer Assessment: 

Program Results

Conversion Rate for Trials Started 

On or After 6/1/2010

Average Calendar Days to Resolve 

Escalated Cases

Note: the best and worst performance reflect the best and worst result of the largest 10 servicers for the period. See appendix for descriptions of the metrics.

Missing Modification Status Reports (%)

Aged Trials as a Percentage

of Active Trials

29%

14%

2%

49%

23%

2%

0% 10% 20% 30% 40% 50% 60%

Worst 

Servicer

Performance

OneWest Bank

Best 

Servicer

Performance

58

42

19

46

38

24

0 20 40 60 80

Worst 

Servicer

Performance

OneWest Bank

Best 

Servicer

Performance

54%

67%

84%

26%

46%

78%

0% 20% 40% 60% 80% 100%

Worst 

Servicer

Performance

OneWest Bank

Best 

Servicer

Performance

3.9%

0.3%

0.0%

19.1%

0.0%

0.0%

0% 5% 10% 15% 20% 25%

Worst 

Servicer

Performance

OneWest Bank

Best 

Servicer

Performance

Results as of:

Dec. 2010

March 2011

One West Bank

32
MHA Servicer Assessment: 

Compliance Results

Select Portfolio Servicing

33

Overview 

 These metrics reflect the results of compliance reviews of the servicer's adherence to MHA Program Requirements. 

 Quantitative results reflect percentages of tests that did not have a desired outcome.

 Servicers are rated qualitatively on the effectiveness of their internal controls in the three Performance Categories as well as for each quantitative result.

Performance Category Metric Benchmark Servicer Result Rating



< 4% 0.0% 



< 10% 2.3% 



 - 1



< 5% 15.0% 



 - 1



< 5% 2.6% 



 - 1

1 - Rating carried forward from prior quarter

Result

 Met benchmark; minor improvement may be indicated 

 Did not meet benchmark; moderate improvement needed 

 Did not meet benchmark; substantial improvement needed



 Rating Legend

Select Portfolio Servicing has areas requiring moderate improvement.

After considering all relevant factors, Select Portfolio Servicing servicer incentives will not be 

withheld at this time.

Withholding may commence next quarter if Select Portfolio Servicing fails to demonstrate 

improvement in the next assessment.

 Homeowner Evaluation and Assistance

Assesses whether servicer correctly evaluates homeowners' 

eligibility for MHA programs, communicates decisions in a 

timely manner, and accurately executes appropriate MHA 

activities.

Income Calculation Error %

Percentage of loans for which MHA-C's income calculation differs from the 

servicer's by more than 5%

Internal Controls for Homeowner Evaluation and Assistance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

 Program Management, Reporting, and Governance

Assesses whether the servicer has effective program 

management, governance processes, and timely and correct 

submission of program reports and program information.

Incentive Payment Data Errors

Average percentage of difference in calculated incentives resulting from data 

discrepancies between servicer files and the MHA system of record

Internal Controls for Program Management, Reporting, and 

Governance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

First Quarter 2011

 Identifying and Contacting Homeowners

Assesses whether the servicer identifies and communicates 

appropriately with potentially eligible MHA homeowners.

Second Look % Disagree

Percentage of loans reviewed where MHA-C did not concur with the servicer's 

MHA determination

Second Look % Unable to Determine

Percentage of loans reviewed where MHA-C was not able to conclude on the 

servicer's MHA determination

Internal Controls for Identifying and Contacting Homeowners

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines
MHA Servicer Assessment: 

Program Results

Conversion Rate for Trials Started 

On or After 6/1/2010

Average Calendar Days to Resolve 

Escalated Cases

Note: December 2010 data is unavailable for 

this servicer.

Note: the best and worst performance reflect the best and worst result of the largest 10 servicers for the period. See appendix for descriptions of the metrics.

Missing Modification Status Reports (%)

Aged Trials as a Percentage

of Active Trials

29%

10%

2%

49%

10%

2%

0% 10% 20% 30% 40% 50% 60%

Worst 

Servicer

Performance

Select Portfolio 

Servicing

Best 

Servicer

Performance

54%

84%

84%

26%

77%

78%

0% 20% 40% 60% 80% 100%

Worst 

Servicer

Performance

Select Portfolio 

Servicing

Best 

Servicer

Performance

58

19

19

46

24

0 20 40 60 80

Worst 

Servicer

Performance

Select Portfolio 

Servicing

Best 

Servicer

Performance

3.9%

0.0%

0.0%

19.1%

0.1%

0.0%

0% 5% 10% 15% 20% 25%

Worst 

Servicer

Performance

Select Portfolio 

Servicing

Best 

Servicer

Performance

Results as of:

Dec. 2010

March 2011

N/A

Select Portfolio Servicing

34
MHA Servicer Assessment: 

Compliance Results

Wells Fargo Bank, NA

35

Overview 

 These metrics reflect the results of compliance reviews of the servicer's adherence to MHA Program Requirements. 

 Quantitative results reflect percentages of tests that did not have a desired outcome.

 Servicers are rated qualitatively on the effectiveness of their internal controls in the three Performance Categories as well as for each quantitative result.

Performance Category Metric Benchmark Servicer Result Rating



< 4% 1.2% 



< 10% 6.0% 



 - - 1



< 5% 27.0% 2



 - 



< 5% 11.1% 2



 - 2

2 - Rating carried forward from prior quarter

Result

 Met benchmark; minor improvement may be indicated 

 Did not meet benchmark; moderate improvement needed 

 Did not meet benchmark; substantial improvement needed



First Quarter 2011

 Identifying and Contacting Homeowners

Assesses whether the servicer identifies and communicates 

appropriately with potentially eligible MHA homeowners.

Second Look % Disagree

Percentage of loans reviewed where MHA-C did not concur with the servicer's 

MHA determination

Second Look % Unable to Determine

Percentage of loans reviewed where MHA-C was not able to conclude on the 

servicer's MHA determination

Internal Controls for Identifying and Contacting Homeowners

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

 Homeowner Evaluation and Assistance

Assesses whether servicer correctly evaluates homeowners' 

eligibility for MHA programs, communicates decisions in a 

timely manner, and accurately executes appropriate MHA 

activities.

Income Calculation Error %

Percentage of loans for which MHA-C's income calculation differs from the 

servicer's by more than 5%

Internal Controls for Homeowner Evaluation and Assistance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

 Program Management, Reporting, and Governance

Assesses whether the servicer has effective program 

management, governance processes, and timely and correct 

submission of program reports and program information.

Incentive Payment Data Errors

Average percentage of difference in calculated incentives resulting from data 

discrepancies between servicer files and the MHA system of record

Internal Controls for Program Management, Reporting, and 

Governance

MHA-C assesses whether servicer business processes are conducted effectively 

and in accordance with MHA guidelines

 Rating Legend

Wells Fargo Bank, NA has areas requiring substantial improvement.

After considering all relevant factors, Wells Fargo Bank, NA servicer incentives will be withheld 

at this time.

Permanent reductions of incentives may commence in subsequent quarters if Wells Fargo Bank, 

NA fails to demonstrate improvement. 

1 - Internal controls testing was not performed for two consecutive quarters due to the cyclical nature of the audit process. To accommodate more consistent reporting in the servicer 

assessments, MHA-C will adjust the review testing schedule to ensure coverage in each six-month period.
MHA Servicer Assessment: 

Program Results

Conversion Rate for Trials Started 

On or After 6/1/2010

Average Calendar Days to Resolve 

Escalated Cases

Note: the best and worst performance reflect the best and worst result of the largest 10 servicers for the period. See appendix for descriptions of the metrics.

Missing Modification Status Reports (%)

Aged Trials as a Percentage

of Active Trials

29%

11%

2%

49%

14%

2%

0% 10% 20% 30% 40% 50% 60%

Worst

Servicer

Performance

Wells Fargo 

Bank, NA

Best 

Servicer

Performance

54%

75%

84%

26%

65%

78%

0% 20% 40% 60% 80% 100%

Worst

Servicer

Performance

Wells Fargo 

Bank, NA

Best 

Servicer

Performance

58

35

19

46

31

24

0 20 40 60 80

Worst

Servicer

Performance

Wells Fargo 

Bank, NA

Best 

Servicer

Performance

3.9%

1.3%

0.0%

19.1%

0.5%

0.0%

0% 5% 10% 15% 20% 25%

Worst

Servicer

Performance

Wells Fargo 

Bank, NA

Best 

Servicer

Performance

Results as of:

Dec. 2010

March 2011

Wells Fargo Bank, NA

36
MHA Servicer Assessment 

Appendix

Metrics Descriptions

Compliance Metrics (quantitative)

Second Look % Disagree: Second Look is a process in 

which MHA-C reviews loans not in a permanent 

modification, to assess the accuracy of the servicer’s 

determination of whether the homeowner is eligible 

for a modification. This metric measures the 

percentage of loans reviewed in Second Look with 

which MHA-C disagrees with a servicer’s 

determination. 

Second Look % Unable to Determine: This metric 

measures the percentage of loans reviewed in Second 

Look for which MHA-C is not able to determine, based 

on the documentation provided, how the servicer 

reached its loan-modification decision. 

For both Second Look Disagree and Unable to 

Determine results, remedial actions Treasury requires 

servicers to take include, but are not limited to: 

reevaluating loans not offered HAMP modifications, 

submitting additional documentation to support the 

initial reason for denial of the modification, clarifying 

loan status, and engaging in systemic process 

remediation. For such results, servicers are also 

reminded of their obligation to suspend foreclosure of 

the loan until the unresolved items are remediated. 

Income Calculation Errors: Correctly calculating 

homeowner monthly income is a critical component 

of evaluating eligibility for MHA, as well as 

establishing an accurate modification payment. This 

metric measures how often MHA-C disagrees with a 

servicer’s calculation of a borrower’s Monthly Gross 

Income, allowing for up to a 5% differential from 

MHA-C’s calculations. For Income Calculation Error 

results, remedial actions Treasury requires servicers 

to take include, but are not limited to: correcting 

income errors exceeding the 5% differential, requiring 

the servicer to review their own income calculation 

accuracy, enhancing policies and procedures, and 

conducting staff training on income calculation.

Incentive Payment Data Errors: Treasury pays 

incentives to servicers, investors, and homeowners 

for permanent modifications completed under MHA. 

Although intended for different recipients, all 

incentives are paid through the servicer. Data that 

servicers upload to the program system of record is 

used to calculate the incentives paid to servicers, 

investors, and homeowners. This metric measures 

how data anomalies between servicer loan files and 

the reported information affect incentive payments. 

For Incentive Payment Data Error results, remedial 

actions Treasury requires servicers to take include, 

but are not limited to: correcting the identified errors 

and correcting system and operational processes such 

that accurate data is mapped to its appropriate places 

in the program system of record. 

Compliance Metrics (qualitative)

Servicers establish processes and internal controls to 

help ensure their compliance with Program guidance. 

For each of the performance categories, Treasury 

performs a qualitative assessment of those internal 

controls based on MHA-C’s compliance reviews. That 

assessment evaluates the nature, scope, and 

potential or actual impact on homeowners resulting 

from instances of servicer non-compliance with its 

own internal controls. For ineffective internal 

controls, remedial actions Treasury requires servicers 

to take include, but are not limited to: identifying and 

reevaluating any affected loans, enhancing the 

effectiveness of internal controls, and conducting 

staff training on servicer procedures. 

Program Metrics

Conversion Rate: This cumulative metric looks at the 

rate of conversion to permanent modification for 

trials started on or after June 1, 2010, when all 

servicers were required to verify income 

documentation at trial start. Conversion rate is 

measured against all 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. 

Aged Trials as % of Active Trials: This monthly metric 

measures trials lasting six months or longer as a share 

of all active trials. These figures include trial 

modifications that have been converted to 

permanent modifications by the servicer and are 

pending reporting to the program system of record. 

Days to Resolve Escalated Cases: This program-todate metric measures servicer response time for 

homeowner inquiries escalated to the HAMP 

Solutions Center. Effective Feb. 1, 2011, a target of 30 

calendar days was established for non-GSE escalation 

cases, including an estimated 5 days processing by 

HAMP Solutions Center. These figures include both 

GSE and non-GSE escalation results. 

% of Missing Modification Status Reports: This 

monthly metric measures the servicer’s ability to 

promptly report on modification status. Inconsistent 

and untimely reporting of modification status reports 

may impact incentive compensation and loan 

performance analysis.

For more information on the assessments, please 

visit: www.FinancialStability.gov. 37
Making Home Affordable

Program Performance Report Through April 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). 

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

Bramble Savings Bank

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

Eaton National Bank & Trust Co

Farmers State Bank

Fay Servicing, LLC

Fidelity Homestead Savings Bank

First Bank

First Financial Bank, N.A.

First Keystone Bank

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

Iberiabank

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 Bank & Trust Co. 

Midwest Community Bank

Mission Federal Credit Union

MorEquity, Inc.

Mortgage Center, LLC

Nationstar Mortgage LLC

Navy Federal Credit Union

Oakland Municipal 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

Wescom Central Credit Union

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

38
Making Home Affordable

Program Performance Report Through April 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

39