Making Home Affordable Program

Servicer Performance Report Through June 2010

HA

Ch

MoSeDisCa

Dis

of 

for 

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MoLis

DeCoDe

Pe

In

Report HighlightsMore Than 50,000 New Permanent Modifications in June• Total number of permanent modifications increases nearly 15%, with growth in permanent 

modifications averaging more than 50,000 per month over the last six months.

• Homeowners in permanent modifications are experiencing a median payment reduction of 

36%, more than $500 per month.

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

then fixed terms at today’s low rates for the life of the loan. 

Servicers Continue to Work Through Aged Trial Population• Cancellations continue to rise as servicers comply with Treasury guidance to make 

decisions on aged trials. Of the newly canceled trials this month, more than 60% had been 

in trial six months or longer. 

• Servicers are still completing their reviews of nearly 166,000 active trials lasting six months 

or more.

• Approximately 45% of homeowners in canceled trials entered an alternative modification, 

based on survey data from the eight largest HAMP participants. Fewer than 2% of homeowners in canceled trials went to foreclosure sale. 

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

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

New This Month: Servicer Engagement• Servicers have shared timetables for participating in the Home Affordable Foreclosure 

Alternatives Program and the HAMP Second Lien Modification Program (2MP).

• Call center metrics and time to resolve escalated cases are reported for the eight largest 

participating servicers. 
Making Home Affordable Program

Servicer Performance Report Through June 2010

HAMP Activity: All Servicers

Total

HAMP Eligibility

Eligible Delinquent Loans1 3,125,198

Eligible Delinquent Borrowers2 1,623,584

TrialModifications

Trial Plan Offers Extended3 1,528,563

All Trials Started 1,282,912

Trials Reported Since May 2010 Report4 38,728

Trial Modifications Canceled 520,814

Active Trials 364,077

Permanent Modifications

All Permanent Modifications Started 398,021

Permanent Modifications Begun SinceMay 2010 Report 51,205Permanent Modifications Canceled5 8,823

Active Permanent Modifications 389,198

1 Estimated eligible 60+ day delinquent loans as reported by servicers as of May 31, 2010, include conventional loans:

 in foreclosure and bankruptcy. with a current unpaid principal balance less than $729,750 on a one‐unit property, $934,200 on a two‐unit property, $1,129,250 on a

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

 on a property that was owner‐occupied at origination.

 originated on or before January 1, 2009.

Estimated eligible 60+ day delinquent loans exclude:

 FHA and VA loans. loans that are current or less than 60 days delinquent, which may be eligible for HAMP if a borrower is in imminent default.

For servicers enrolling after April 1, 2010 that did not participate in the 60+ day delinquency survey, the delinquency count is from the

servicer registration form. 2 The estimated eligible 60+ day delinquent borrowers are those in HAMP‐eligible loans, minus estimated exclusions of loans on vacant

properties, loans with borrower debt‐to‐income ratio below 31%, loans that fail the NPV test, properties no longer owner‐occupied,

manufactured housing loans with title/chattel issues that exclude them from HAMP, and loans where the investor pooling and service

agreements preclude modification. Exclusionsfor DTI and NPV results are estimated using market analytics. 3 As reported in the weekly servicer survey through July 1, 2010. 4 Servicers may enter new trial modifications anytime before the loan converts to a permanent modification. 5 Includes 195 loans paid off.

HAMP Trials 

Permanent Modific

55,041

164,696

284,209

429,321

564,1

0

200,000400,000600,000800,000

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

May

and

Prior

June July Aug Sep 

4,742 15,649 31,424

66,9

0

100,000200,000300,000400,000500,000

Sep and

Earlier

Oct Nov De

Source: HAMP system of record. Note: Servicers may enter new trial modifications aSource: HAMP system of record.
Making Home Affordable Program

Servicer Performance Report Through June 2010

• Lower monthly mortgage payments for homeowners in active trial and 

permanent modifications yield a cumulative reduction of nearly $3.2 billion.

• The median savings for borrowers in permanent modifications is $510.19 per 

month, or 36% of the median before-modification payment. 

• 76.8% of homeowners in permanent modifications were 60 days delinquent or 

more at trial entry; the remainder were up to 59 days late or in imminent default.

Loan Characteristic 

M

Front-End Debt-to-Income Ratio1 

Back-End Debt-to-Income Ratio2 Median Monthly Payment3 

1

Modification Characteristics

Interest Rate Reduction Term Extension Principal Forbearance 

Permanent Modific

1 Ratio of housing expenses (principal and inte

association and/or condo fees) to monthly gros

2 Ratio of total monthly debt payments (includin

insurance, homeowners association and/or conalimony, car lease payments and investment phave a back-end debt-to-income ratio of greateprogram guidelines.

3 Principal and interest payment on the first mo

Select Median Character

1 Includes borrowers who are employed but have faced a reduction in hours and/or wages as well as those 

who have lost their jobs.Note: Does not include 17.5% of permanent modifications reported as Other.

Performance of Permanent Modifications (As of May 31, 2010)

Modification Became Permanent in:

Delinquency: Months After Conversion to Per

3 6 

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

Q3 2009 3,614 9.7% 3.5% 4,499 14.8% 9.7% 

Q4 2009 44,595 5.3% 1.4% 48,542 9.7% 5.7% Q1 2010 126,537 4.0% 1.2% -- -- -- ALL 174,746 4.5% 1.3% 53,041 10.1% 6.1% 

Note: For permanent loans aged at least 3 months as of May 31, as reported by servicers through June 17. Please refer to Appendix C on Page 13 for detailed footnotes on this table. 

2.9%

10.8%

60.2%

0% 20% 40% 60% 80%

Illness of Principal

Borrower

Excessive

Obligation

Loss of Income

Predominant Hardship Reasons for Permanent Modifications
Making Home Affordable Program

Servicer Performance Report Through June 2010

89%

80% 77%

71% 66%

62% 60% 57

0%

25%50%75%

100%

Trial Length atConversion(months):

3.2 4.6 3.0 3.0 3.3 3.1 3.9 3

Servicer 

Estimated 

Eligible 60+ Day

Delinquent

Borrowers1 

Trial Plan 

Offers 

Extended2

All HAMP Trials 

Started3

Active Trial 

Modifications3

Permanent 

Modifications3

American Home Mortgage Servicing Inc 51,745 24,274 19,906 9,494 9,504Aurora Loan Services, LLC 39,253 47,640 44,099 7,263 12,562

Bank of America, NA4 469,905 405,861 311,801 121,369 72,232

Carrington Mortgage ServicesLLC 5,180 3,611 2,933 710 2,019

CitiMortgage, Inc. 143,074 155,955 146,857 27,965 40,813

GMAC Mortgage, Inc. 20,459 57,244 46,917 6,083 27,505

Green Tree Servicing LLC 6,912 7,290 6,144 2,133 2,347

HomEq Servicing 16,089 6,669 5,479 1,450 3,793J.P. Morgan Chase Bank, NA5 233,180 256,775 202,831 63,259 54,722

Litton Loan Servicing LP 52,675 36,902 34,564 4,640 8,116Nationstar Mortgage LLC 20,018 25,667 22,007 5,495 8,265Ocwen Financial Corp. Inc. 35,099 25,615 26,511 6,333 16,004

OneWest Bank 50,402 60,068 43,605 18,949 14,700

PNC Mortgage6 20,824 21,964 17,890 3,960 2,502

Saxon Mortgage Services, Inc. 27,204 44,909 35,231 4,752 10,535

Select Portfolio Servicing 19,899 61,379 37,745 4,984 14,807

US Bank NA 16,302 13,581 10,482 2,523 5,732Wachovia Mortgage, FSB7 30,957 14,888 11,320 7,599 3,594

Wells Fargo Bank, NA8 179,421 243,504 175,564 30,949 44,628

Other SPA servicers9 15,043 14,767 12,727 4,145 6,207

Other GSE Servicers10 169,943 NA 68,299 30,022 28,611Total 1,623,584 1,528,563 1,282,912 364,077 389,198

1 Estimated eligible 60+ day delinquent borrowers as reported by 

servicers as of May 31, 2010, include those in conventional loans: 

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

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

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

Estimated eligible 60+ day delinquent borrowers excludes: 

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

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

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

negative NPV test,

 Owners of vacant properties or properties otherwise excluded (see 

footnotes of page 7 for further explanation). 

Exclusions for DTI and NPV are estimated using market analytics. 

For servicers enrolling after April 1, 2010 that did not participate in the 

60+ day delinquency survey, the delinquency count is from the servicer registration form. 2 As reported in the weekly servicer survey through July 1, 2010.

3 Active trial and permanent modifications as reported into the HAMP 

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

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

Servicing LP, Home Loan Services and Wilshire Credit Corporation.

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

included in Wachovia Mortgage, FSB. 

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

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

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

Freddie Mac.

Aged Trials1 

72% 68% 66% 65%

58% 56%

43% 

0%

20%40%60%80%

HAMP Modification Activity by Servicer Co

1 Active trials initiated at least six months ago. Note: Excludes Wachovia Mortgage, FSB at 0%.

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

deadline using stated income information.•Other SPA and Other GSE servicers represent a mix of verified and st

Permanent modifications transferred among servicers are credited to 

1mthM
Making Home Affordable Program

Servicer Performance Report Through June 2010

Disposition Path 

Homeowners in Canceled HAMP Trial Modifications

Through May 2010 (8 Largest Servicers) 1

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

Servicer

Action

Pending2 Bankruptcy

Borrower

Current

Alternative

Modification

Payment

Plan3 Loan Payoff

Short Sale/

Deed in

Lieu

Foreclosure

Starts

Foreclosure

Completions

American HomeMortgage Servicing Inc. 60 9 26 16 8 1 0 6 3 

Bank of America, NA4 69,653 2,154 3,009 20,564 761 392 1,248 2,440 192 

CitiMortgage Inc. 16,863 6,232 7,471 30,145 1,063 232 1,017 5,286 509 GMAC Mortgage Inc. 1,053 202 877 4,310 226 239 223 651 275 

JP Morgan Chase Bank

NA5 12,462 205 712 31,973 58 246 903 10,927 1,119 

Litton Loan Servicing LP 2,726 334 1,286 8,259 363 61 591 1,814 218 

OneWest Bank 1,816 174 173 2,785 40 8 360 883 350 

Wells Fargo Bank NA6 6,229 435 6,592 56,821 544 1,699 3,903 8,610 1,774 

TOTAL(These 8 Servicers)

110,862

32.1%

9,745

2.8%

20,146

5.8%

154,873

44.9%

3,063

0.9%

2,878

0.8%

8,245

2.4%

30,617

8.9%

4,440

1.3%

Note: Data is as reported by servicers for actions completed through May 31, 2010. 1 As defined by cap amount.2 Trial loans that have been canceled, but no further action has yet been taken. 3 An arrangement with the borrower and servicer that does not involve a formal loan modification. 4 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation.5 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation.6 Wells Fargo Bank, NA includes a portion of the loans previously included in Wachovia Mortgage, FSB. Excludes Wachovia Mortgage FSB Pick-a-Payment Loans. 

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

Servicer Performance Report Through June 2010

Disposition Path 

Homeowners Not Accepted for HAMP Trial Modificatio

Through May 2010 (8 Largest Servicers) 1

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

Servicer

Action

Pending2 Bankruptcy

Borrower

Current

Alternative

Modification

Payment

Plan3 Loan Payoff

Short Sale/

Deed in

Lieu

Foreclosure

Starts

Foreclosure

Completions

American HomeMortgage Servicing Inc. 1,209 529 2,096 12,851 395 313 1,116 2,463 18 

Bank of America, NA4 29,070 2,264 1,922 8,729 690 265 8,768 13,588 1,097 

CitiMortgage Inc. 33,881 8,282 8,912 24,316 4,165 13,470 1,382 11,414 4,068 

GMAC Mortgage Inc. 13,076 2,721 15,664 25,653 3,411 3,221 2,536 8,043 3,223 

JP Morgan Chase Bank

NA5 16,467 537 43,401 32,504 110 400 908 4,765 446 

Litton Loan Servicing LP 7,806 3,009 6,856 8,432 1,273 174 2,651 6,894 1,274 OneWest Bank 7,530 1,331 4,562 3,844 509 102 2,284 3,338 3,839 

Wells Fargo Bank NA6 12,657 1,021 18,951 41,334 1,676 2,630 3,236 12,119 4,886 

TOTAL(These 8 Servicers)

121,696

22.6%

19,694

3.7%

102,364

19.0%

157,663

29.3%

12,229

2.3%

20,575

3.8%

22,881

4.2%

62,624

11.6%

18,851

3.5%

Note: Data is as reported by servicers for actions completed through May 31, 2010. 1 As defined by cap amount.2 Homeowners who were not approved for a HAMP trial modification, but no further action has yet been taken. 3 An arrangement with the borrower and servicer that does not involve a formal loan modification. 4 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation.5 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation.6 Wells Fargo Bank, NA includes a portion of the loans previously included in Wachovia Mortgage, FSB. Excludes Wachovia Mortgage FSB Pick-a-Payment Loans. 
Making Home Affordable Program

Servicer Performance Report Through June 2010

Events Hosted Nationally by Treasury and Partners (cumulative) 40Homeowners Attending Treasury-Sponsored Events (cumulative) 41,103Servicer Solicitation of Borrowers (cumulative)1 5,032,530

Page views on MakingHomeAffordable.gov

(June 2010) 4,602,051Page views on MakingHomeAffordable.gov (cumulative) 89,967,960

Percentage to Goal of 3-4 Million Modification Offers by 20122 38-51%

1 Source: survey data provided by servicers. Servicers are encouraged by HAMP to solicit information from borrowers 60+ days delinquent, regardless of eligibility for a HAMP modification. 2 In 2009, Treasury set a goal of offering help to 3-4 million borrowers through the end of 2012.

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

Selected Outreach Measures Call 

Source: Homeowner’s HOPETM Hotline.

Servicer Began Verified Income Trials2

Home Affordable Foreclosure Alternatives (HAFA) 3

Offers Initiated

Operationally Ready4 To Homeowners

O

American Home Mortgage

Servicing, Inc. At Signup (7/09) 4/10 5/10 N

Bank of America, NA6 4/10 4/10 4/10 

CitiMortgage Inc. 3/10 6/10 6/10 

GMAC Mortgage Inc. 4/107 4/10 6/10 N

JP Morgan Chase Bank NA8 4/10 4/10 5/10 

Litton Loan Servicing LP 4/10 4/10 4/10 N

OneWest Bank 4/10 5/10 5/10 N

Wells Fargo Bank NA9 3/10 4/10 4/10 

Implementation of Program Updates (8 Largest Service

1 As defined by cap amount.2 Per Supplemental Directive 10-01, all servicers were required to start trials using verified income documentation at trial start by June 1, 2010. 

Servicers had the option to use verified income at any time. 3 HAFA guidelines enable short-sale and deed-in-lieu transactions for borrowers at risk of foreclosure. 

4 Operationally ready means that servicers have implemented the program as outlined in Supplemental Directive 09-09. Dates after May 31, 2010 are 

estimated. 5 Treasury’s Second Lien Modification Program was revised in March 2010. Servicers participating in HAMP are not required to sign up for Revised 

2MP.

6 Bank of America, NA includes Bank of America, NA, BAC Home Loa7 Prior to April 2010, GMAC operated a program where most documen

produced during the trial period.

8 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation.9 Wells Fargo Bank, NA includes a portion of the loans previously inclu

Payment Loans. Wachovia Mortgage FSB began verified income t
Making Home Affordable Program

Servicer Performance Report Through June 2010

2%3%4%5%6%

Litton JP Morgan

Chase NA

OneWest 

% of Calls for Specific Servicer

That Are Complaints

Source: Homeowner’s HOPETM Hotline.Note: Complaint rate is the share of a specific Litton, 5.3% included complaints.)

Homeowner Experience (8 Largest Servicers)*

Average Speed to Answer Homeowner Calls (May)

0

102030405060

Bank of

America NA

Litton JP Morgan

Chase NA

GMAC OneWest Am. Home

Servicing

Wells Fargo CitiMortgage

Seconds

Homeowner’s HOPETM

Hotline Average for May: 

2.8 Seconds

Call Abandon Rate (May)

0%1%2%3%4%5%

Bank of

America

Litton JP Morgan

Chase NA

GMAC Am. Home

Servicing

Wells Fargo OneWest CitiMortgage

Homeowner’s HOPETM

Hotline Average for May: 

1.8%

Source: Survey data through May 31, 2010, from servicers on call volume to loss mitigation lines.

Source: Survey data through May 31, 2010, from servicers on call volume to loss mitigation lines.

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

Servicer Time to Resolve (Program to Date, Throu

0

10203040

JP Morgan

Chase NA

Bank of

America NA

OneWest C

Resolved: 755 1,038 208 Cases (PTD)

Calendar Days

Target

Source: HAMP Solutions Center. Target of 25 calen

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

Servicer Complaint Rate to H

(Program to Date, Through J
Making Home Affordable Program

Servicer Performance Report Through June 2010

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

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

State

Active

Trials

Permanent 

Modifications Total

% of 

Total State

Active

Trials

Permanent 

Modifications Total

% of 

Total 

AK 161 170 331 0.0% MT 504 418 922 0.1%

AL 2,319 2,380 4,699 0.6% NC 7,231 7,574 14,805 2.0%

AR 946 993 1,939 0.3% ND 87 71 158 0.0%

AZ 16,816 20,652 37,468 5.0% NE 467 548 1,015 0.1%

CA 82,341 85,814 168,155 22.3% NH 1,555 1,874 3,429 0.5%CO 4,870 5,656 10,526 1.4% NJ 11,739 12,727 24,466 3.2%CT 4,489 5,147 9,636 1.3% NM 1,302 1,252 2,554 0.3%

DC 705 634 1,339 0.2% NV 9,664 10,498 20,162 2.7%DE 1,107 1,286 2,393 0.3% NY 17,472 15,882 33,354 4.4%

FL 45,725 47,029 92,754 12.3% OH 7,702 8,769 16,471 2.2%

GA 14,175 14,471 28,646 3.8% OK 1,044 943 1,987 0.3%HI 1,349 1,454 2,803 0.4% OR 4,017 4,389 8,406 1.1%

IA 1,015 1,028 2,043 0.3% PA 7,746 8,180 15,926 2.1%

ID 1,378 1,505 2,883 0.4% RI 1,611 2,060 3,671 0.5%

IL 18,841 20,725 39,566 5.3% SC 3,544 3,868 7,412 1.0%IN 3,470 3,987 7,457 1.0% SD 173 143 316 0.0%KS 957 982 1,939 0.3% TN 3,878 4,227 8,105 1.1%

KY 1,433 1,546 2,979 0.4% TX 12,025 9,752 21,777 2.9%LA 2,079 1,983 4,062 0.5% UT 3,186 3,612 6,798 0.9%

MA 8,128 9,857 17,985 2.4% VA 9,191 9,938 19,129 2.5%MD 11,702 13,210 24,912 3.3% VT 263 327 590 0.1%

ME 919 1,134 2,053 0.3% WA 7,110 7,721 14,831 2.0%

MI 11,362 13,547 24,909 3.3% WI 3,421 3,977 7,398 1.0%MN 5,650 7,783 13,433 1.8% WV 536 632 1,168 0.2%

MO 4,046 4,411 8,457 1.1% WY 204 191 395 0.1%MS 1,277 1,498 2,775 0.4% Other* 1,145 743 1,888 0.3%

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

60+ 

HAMP Activity by State Modific

Mortgage D
Making Home Affordable Program

Servicer Performance Report Through June 2010

Servicer 

Bank of America, NA1 

JP Morgan Chase NA2 

Wells Fargo Bank, NA 3 CitiMortgage, Inc. 

OneWest Bank GMAC Mortgage, Inc. 

Ocwen Financial Corporation, InAurora Loan Services, LLC 

Select Portfolio Servicing 

American Home Mortgage Servicing Inc Saxon Mortgage Services Inc. 

Nationstar Mortgage LLC 

Litton Loan Servicing LP Wachovia Mortgage, FSB4 

US Bank NA PNC Mortgage5 

HomEq Servicing Green Tree Servicing LLC 

Carrington Mortgage Services LLRemainder of HAMP Servicers 

Total 

1 Bank of America, NA includes Bank of America

Wilshire Credit Corporation.

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

Metropolitan Statistical Area

Active

Trials

Permanent

Modifications

Total 

HAMP 

Activity

% of All 

HAMP 

Activity

Los Angeles-Long Beach-Santa Ana, CA 24,783 24,063 48,846 6.5%New York-Northern New JerseyLong Island, NY-NJ-PA 22,974 22,365 45,339 6.0%Chicago-Naperville-Joliet, IL-IN-WI 18,150 20,004 38,154 5.1%Riverside-San Bernardino-Ontario, CA 17,417 20,722 38,139 5.1%Miami-Fort Lauderdale-Pompano Beach, FL 18,241 17,380 35,621 4.7%Phoenix-Mesa-Scottsdale, AZ 13,850 17,116 30,966 4.1%

Washington-Arlington-Alexandria, DC-VA-MD-WV 12,628 13,917 26,545 3.5%Atlanta-Sandy Springs-Marietta, GA 11,448 11,771 23,219 3.1%Las Vegas-Paradise, NV 8,027 8,608 16,635 2.2%

Detroit-Warren-Livonia, MI 7,170 8,169 15,339 2.0%

Orlando-Kissimmee, FL 7,282 7,848 15,130 2.0%

Boston-Cambridge-Quincy, MA-NH 5,701 7,019 12,720 1.7%

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 5,904 6,522 12,426 1.6%

Sacramento-Arden-ArcadeRoseville, CA 5,624 6,638 12,262 1.6%

San Francisco-Oakland-Fremont,CA 6,471 5,590 12,061 1.6%

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

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

Servicer Performance Report Through June 2010

Allstate Mortgage Loans

& Investments, Inc.

American Eagle Federal Credit Union

American Home Mortgage Servicing, Inc

AMS Servicing, LLCAurora Financial Group, Inc.Aurora Loan Services, LLCBank of America, N.A.1

Bank UnitedBay Federal Credit Union

Bay Gulf Credit Union

Bayview Loan Servicing, LLC

Carrington Mortgage Services, LLC

CCO MortgageCentral Florida Educators Federal Credit Union

Central Jersey Federal Credit Union

Chase Home Finance, LLC

CitiMortgage, Inc.

Citizens 1st National Bank

Citizens First Wholesale Mortgage Company

Community Bank

& Trust Company

CUC Mortgage Corporation

DuPage Credit Union

Eaton National Bank

& Trust Co

Farmers State BankFidelity Homestead Savings Bank

First BankFirst Keystone Bank

First National Bank of Grant Park

Franklin Credit Management Corporation

Fresno County Federal Credit UnionGlass City Federal Credit Union

GMAC Mortgage, Inc.

Golden Plains Credit Union

Grafton Suburban Credit UnionGreat Lakes Credit Union

Greater Nevada Mortgage Services

Green Tree Servicing LLCHartford Savings BankHillsdale County National BankHomEq ServicingHomeStar Bank

& Financial Services

Horicon BankHorizon Bank, NA

IberiabankIBM Southeast Employees' Federal Credit UnionIC Federal Credit Union

Idaho Housing and Finance Association

iServe Residential Lending LLCiServe Servicing Inc.

J.P.Morgan Chase Bank, NA2

Lake City BankLake National Bank

Litton Loan Servicing

Los Alamos National Bank

Marix Servicing, LLCMetropolitan National BankMidwest Bank

& Trust Co.

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

National City Bank

Nationstar Mortgage LLCNavy Federal Credit UnionOakland Municipal Credit Union

Ocwen Financial Corporation, Inc.

OneWest BankORNL Federal Credit UnionPark View Federal Savings BankPennyMac Loan Services, LLC

PNC B

PurduQLenQuan

ResidRG MRoebRounSaxon 

SchooSEFCUSelec

Servis ShoreSilver 

Sound 

Speci

Spirit StanfSterli

TechnTempThe G

U.S. B

Unite

Unite

Urban VantiVerity 

Vist FWells 

WealtWesc

Yadki

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

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

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

Servicer Performance Report Through June 2010

Note: Servicer‐specific compliance data will be reported

quarterly.Description of Compliance Activities

Freddie Mac, serving as Compliance Agent for Treasury’s

Home Affordable Modification Program (HAMP), has

created a separate division known as Making Home

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

compliance activities to assess servicer compliance with

HAMP guidelines, as described below.

On Site Reviews: Readiness

& Governance – A review

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

for complying with new/future HAMP requirements, or to

research a trend or potential implementation risk. Reviews

are performed as needed, determined by frequency of new

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

servicer’s adherence to the HAMP NPV guidelines. For

those servicers that have elected to recode the NPV model

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

designed to ensure the servicer’s NPV model is accurately

calculating NPV and that the model usage is consistent with

directives. At a minimum, recoders are subject to quarterly

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

servicers using the Treasury NPV Web Portal, reviews of

data submissions are performed on a monthly basis.

On Site Reviews: Implementation – A review conducted by

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

HAMP program. Areas covered include, among other

things, solicitation, eligibility, underwriting, document

management, payment processing, reporting, and

governance. Reviews are performed at a minimum for

larger servicers on a semi‐annual schedule and for smaller

servicers on an annual schedule.

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

servicer’s non‐performing loan portfolio primarily to assess

completeness of relevant documentation and appropriate

loan modification decisioning. This includes reviews of

loans which have successfully converted to a permanent

modification to ensure they meet the HAMP guidelines, as

well as loans that have not been offered HAMP

modifications to ensure that the exclusion was appropriate

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

permanent modifications and Second Look monthly loan

file review cycle. These Loan File reviews consist of a

statistical sample (typically 100‐ 150 loan files per larger

servicer). Smaller servicers are also statistically sampled on

a quarterly or semi‐annual cycle.

Incentive Payments – A review performed by MHA‐C to

determine the accuracy and validity of borrower and

investor incentive payments, and to assess whether

borrower payments are appropriately allocated to

borrowers’ loan principal in accordance with HAMP

guidelines. They are performed at a minimum annually on

the top 21 servicers.

Areas of Compliance Focus

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

anticipated risks to the program, HAMP compliance efforts

will remain focused on the following general areas:

Borrower Solicitation – Servicers are required to solicit

eligible borrowers without delay and not conduct

foreclosure proceedings until such borrowers are

appropriately considered for HAMP. It is critical that

servicers not take actions that would lead to borrowers

becoming displaced from their home without being given

proper consideration for a loan modification or other

foreclosure alternative. Servicers should ensure that their

operating protocols identify all populations of eligible

borrowers. Servicers should ensure that their operating

procedures meet or exceed the minimum requirements of

Supplemental Directive 10‐02 related to borrower

solicitation and contact.

Underwriting Documentation – Servicers must retain a

complete and consistent set of documentation for all loans

considered for HAMP, including evidence supporting

borrower income. In addition, appropriate documentation

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

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Appendix B: Description of Compliance Activities
Making Home Affordable Program

Servicer Performance Report Through June 2010

In reference to the table on Page 3, “Performance of Permanent Modifications”:

• The table on page 3 shows the performance of permanent HAMP modifications at 3, 6, and 9 months of age and in

least 3, 6, or 9 months, as applicable. The table stratifies the data by the quarter in which the modification became 

performance metrics:

• 60+ days delinquent: All loans that have missed two or more consecutive monthly payments, including 90

• 90+ days delinquent: All loans that have missed three or more consecutive monthly payments.

• The table reflects the fact that loan payment status is not reported by servicers after program disqualification (90+ 

delinquent loans are included in each of the 60+ days delinquent and 90+ days delinquent metrics for all future rep

may have cured or paid off following program disqualification.

• This table reflects a total of 5,064 disqualified loans that have aged 3, 6, or 9 months through the May activity peri

17. The table published on July 20 inadvertently excluded 1,793 disqualified loans and partially reported 857 disqu

development of the metric.

• Servicers are required to report monthly payment information on HAMP modifications in the form of an Official M

not report an OMR for a loan in a given month, the performance of that loan is not included in the table for that m

OMR reporting as the modification ages, causing the total loan count in months 6 and 9 to be higher than the coun

• Once a loan is paid off, it is no longer reflected in future periods.

• The data set forth in this table has been reviewed and verified by an independent third party consultant contracte

• This data has also been independently verified by MITRE, an outside review firm retained by Treasury.

A report fro

• http://www.financialstability.gov/docs/MITRE%20Final%20Public%20Version%208‐6‐10.pdf

Appendix C: Detailed Footnotes on Performance of Permanent Modifications