Spreadsheet: 1d66986e-5941-47ff-bcba-c318f8c36fc4
Sheet: Summary by State

 | State Estimates of Borrowers Eligible for a Streamlined Refinancing
 | From Boyce, Hubbard, [NAME], Witkin
 | [NAME] with a Mortgage Rate of at least 4.5%
 |  | Number of Borrowers1 |  |  |  | Potential Annual Savings (Assuming National Average Savings Per Refi) 2
 | State | Base Sample | Current and Responsible3 | Originated Before Boxer-Menendez Cutoff Date4 | Originated Before Current HARP Cutoff Date5 | Base Sample | Current and Responsible3 | Originated Before Boxer-Menendez Cutoff Date4 | Originated Before Current HARP Cutoff Date5
 | Entire U.S.6 | 13998594.2251555 | 12840264.90290401 | 11603030.46985157 | 9867766.290106636 | 38230160828.89969 | 35066763449.83085 | 31687876213.16464 | 26948869738.28122
 | AK | 22393 | 21530 | 18918 | 14958 | 61155283 | 58798430 | 51665058 | 40850298
 | AL | 154893.5087 | 141002.5087 | 130778.509 | 114570.51 | 423014172.2597001 | 385077851.2597 | 357156108.079 | 312892062.81
 | AR | 79799.17069 | 73453.6707 | 67324.504 | 58863.17 | 217931535.15439 | 200601974.6817 | 183863220.424 | 160755317.27
 | AZ | 307199.99196 | 288016.491 | 258263.991 | 219025.49 | 838963178.0427599 | 786573036.921 | 705318959.421 | 598158613.1900002
 | CA | 1500513.50503 | 1421313.004999999 | 1241176.503 | 1011681.5 | 4097902382.23693 | 3881605816.654998 | 3389653029.693 | 2762902176.5
 | CO | 271528.49798 | 259822.499 | 227726.999 | 185238 | 741544327.9833801 | 709575244.7689999 | 621922434.2689999 | 505884978
 | CT | 145074.99792 | 131498.999 | 119088 | 99689 | 396199819.3195201 | 359123766.2690001 | 325229328 | 272250659
 | DC | 30093 | 27866 | 23932 | 19054 | 82183983 | 76102046 | 65358292 | 52036474
 | DE | 52251 | 48023 | 43363 | 36067 | 142697481 | 131150813 | 118424353 | 98498977
 | FL | 895488.0190269998 | 763529.0190000002 | 710442.0197000001 | 640474.02 | 2445577779.962737 | 2085197750.889001 | 1940217155.8007 | 1749134548.62
 | GA | 416603.99998 | 381251.001 | 353340.999 | 311181.9999999999 | 1137745523.94538 | 1041196483.731 | 964974268.269 | 849838041.9999999
 | HI | 50647 | 46805 | 43035 | 36910 | 138316957 | 127824455 | 117528585 | 100801210
 | IA | 109675.999 | 101401.498 | 92202.499 | 79048.5 | 299525153.269 | 276927491.038 | 251805024.769 | 215881453.5
 | ID | 83897 | 78619.5 | 70928.5 | 59473.5 | 229122707 | 214709854.5 | 193705733.5 | 162422128.5
 | IL | 517773.4846000002 | 461715.4836000002 | 419022.4830000001 | 357859.983 | 1414039386.4426 | 1260944985.7116 | 1144350401.073 | 977315613.5730001
 | IN | 247775.99901 | 222434 | 205376 | 181860 | 676676253.29631 | 607467253.9999999 | 560881856.0000001 | 496659660
 | KS | 101053 | 94013.5 | 85336.5 | 73671.5 | 275975743 | 256750868.5 | 233053981.5 | 201196866.5
 | KY | 135534.00301 | 123698.0027 | 113724.5027 | 98808.003 | 370143362.22031 | 337819245.3737 | 310581616.8737 | 269844656.193
 | LA | 120513.32499 | 108536.325 | 98701.992 | 85542.326 | 329121890.5476899 | 296412703.575 | 269555140.152 | 233616092.306
 | MA | 249660.99996 | 227929 | 202003 | 168450 | 681824190.89076 | 622474098.9999999 | 551670193 | 460036950
 | MD | 302382.99109 | 275616.991 | 245370.99 | 203251.99 | 825807948.6667899 | 752710002.421 | 670108173.6899999 | 555081184.6899999
 | ME | 48962 | 43762 | 39566 | 33482 | 133715222 | 119514022 | 108054746 | 91439342
 | MI | 433848.009059 | 401026.0071 | 376401.0069999999 | 342166.007 | 1184838912.740129 | 1095202025.3901 | 1027951150.117 | 934455365.117
 | MN | 313271.48911 | 296618.4890000001 | 262909.49 | 217290.49 | 855544436.7594099 | 810065093.4590001 | 718005817.1900002 | 593420328.1899999
 | MO | 253716.4919699999 | 235820.491 | 213895.99 | 184352.99 | 692899739.5700696 | 644025760.9209999 | 584149948.6899999 | 503468015.69
 | MS | 50394.4999 | 44504.49889999999 | 40821.4993 | 35556.5 | 137627379.2269 | 121541786.4959 | 111483514.5883 | 97104801.5
 | MT | 45757 | 43571.5 | 38972.5 | 30795 | 124962367 | 118993766.5 | 106433897.5 | 84101145
 | NC | 378463.9973100001 | 346543.9983 | 311824.999 | 261911 | 1033585176.65361 | 946411659.3573 | 851594072.269 | 715278941
 | ND | 17460 | 16685.5 | 15048.5 | 12769 | 47683260 | 45568100.5 | 41097453.5 | 34872139
 | NE | 66207 | 62497.5 | 56029.5 | 48487.5 | 180811317 | 170680672.5 | 153016564.5 | 132419362.5
 | NH | 65059 | 60105 | 53765 | 45139 | 177676129 | 164146755 | 146832215 | 123274609
 | NJ | 410323.66409 | 359272.664 | 321326.994 | 261619.66 | 1120593926.62979 | 981173645.3840002 | 877544020.614 | 714483291.46
 | NM | 86217.5 | 80080.5 | 73194.5 | 62493.5 | 235459992.5 | 218699845.5 | 199894179.5 | 170669748.5
 | NV | 118711.50003 | 106704.5 | 96976.499 | 83877.5 | 324201106.58193 | 291409989.5 | 264842818.769 | 229069452.5
 | NY | 607531.3300460004 | 545892.3283 | 495233.9952999999 | 418454.328 | 1659168062.355627 | 1490831948.5873 | 1352484041.1643 | 1142798769.768
 | OH | 416086.0028959999 | 376148.0039 | 351193.0056 | 315439.007 | 1136330873.908976 | 1027260198.6509 | 959108098.2936 | 861463928.117
 | OK | 122084.002 | 113082.501 | 105443.501 | 93191 | 333411409.462 | 308828310.231 | 287966201.231 | 254504621
 | OR | 219858.5 | 205969.5 | 181508.5 | 144925 | 600433563.5 | 562502704.5 | 495699713.5 | 395790175
 | PA | 482603.986314 | 437897.9863 | 396865.986 | 338188.987 | 1317991486.623534 | 1195899400.5853 | 1083841007.766 | 923594123.4969999
 | RI | 38037 | 34314 | 31036 | 26571 | 103879047 | 93711534 | 84759316 | 72565401
 | SC | 185637.01069 | 167653.0117 | 154766.011 | 135118.01 | 506974676.19439 | 457860374.9527 | 422665976.041 | 369007285.31
 | SD | 27832 | 26621 | 24208.5 | 20244.5 | 76009192 | 72701951 | 66113413.5 | 55287729.5
 | TN | 209665.5009799999 | 193852.0009999999 | 176597.4999999999 | 150764.5 | 572596483.1763798 | 529409814.7309998 | 482287772.4999998 | 411737849.4999999
 | TX | 842208.5075840006 | 789174.0083000005 | 725624.5056000003 | 635531.5040000002 | 2300071434.211905 | 2155234216.667301 | 1981680524.793601 | 1735636537.424001
 | UT | 123569.98901 | 115878.99 | 101775.99 | 81190.99 | 337469639.98631 | 316465521.69 | 277950228.69 | 221732593.69
 | VA | 382770.49836 | 363766.998 | 320833.499 | 262720 | 1045346231.02116 | 993447671.5380001 | 876196285.769 | 717488320
 | VT | 27490 | 25213 | 23134 | 19706 | 75075190 | 68856703 | 63178954 | 53817086
 | WA | 349929.48993 | 324847.49 | 286337.489 | 227745.49 | 955657436.9988301 | 887158495.1900002 | 781987682.459 | 621972933.1900002
 | WI | 178924.99906 | 163997.999 | 146408.999 | 121439 | 488644172.4328599 | 447878535.2689999 | 399842976.2690001 | 331649909
 | WV | 36327 | 32624 | 30458 | 27197 | 99209037 | 89096144 | 83180798 | 74275007
 | WY | 21344.5 | 20512 | 18526 | 15165 | 58291829.5 | 56018272 | 50594506 | 41415615
 | Source: LPS / McDash as of May 2012 and Authors' Calculations
 | (1) Each column is a subset of the previous column, i.e. a loan is only counted if it satsifies the restrictions of the previous columns. [NAME] is all [NAME]-guaranteed mortgages
 | with a mortgage rate of at least 4.5%.
 | (2) First-year Potential Savings assumes $2,730 savings per borrower.
 | (3) Current and Responsible defined as being current as of May 2012 and having no more than 1 missed payment in the past year.
 | (4) Proposed Boxer-Menendez cutoff date is June 1st, 2010.
 | (5) Current HARP cutoff date is June 1st, 2009. These counts include borrowers who have LTV ratios below 80% and are thus currently ineligible for HARP.
 | (6) Summing states will lead to a figure slightly less than the national total. This is due to a scaling factor applied at the national level to account for loans missing from the dataset.
 | We do not apply this factor at the the state level, so these counts likely understate the number of potential beneficiaries by 10-15%.