|
|
Mortgage Servicers Participating in the Home Affordable Modification Program (HAMP)
The Treasury Department released information on the mortgage services companies participating in its Home Affordable Modification Program (HAMP). After having a slow start, the program has clearly picked up speed over the last two months. The Treasury Department announced that as of January 2010, servicers had offered close to 1.3 million trial modifications, and has started over 1 million of them, of which 830 thousand are active and 116 thousand have become permanent.
Below is a listing of the servicers participating in the program and the number of modifications carried out by each and the percentage of eligible modifications in their portfolio.
| Servicer |
Estimated Eligible 60-days
delinquency |
Trial Offers Extended |
Active Trial Modifications
|
Permanent Modifications
| Trials + Modifications as % of Eligible |
Bank of America, NA
| 1,066,025
| 329,745
| 221,395
| 13,701
| 22%
|
| J.P. Morgan Chase Bank, NA |
432,416 |
222,192
|
150,902 |
17,959 | 38% |
| Wells Fargo Bank, NA |
357,482 |
188,749 |
119,476 |
7,554
| 38% |
| CitiMortgage, Inc. |
246,038 |
148,200 |
111,247 |
7,299 | 50% |
| American Home Mortgage Servicing Inc. |
127,521 |
15,137 |
11,764
|
2,171
| 9% |
OneWest Bank
| 112,200
| 48,548
| 24,741
| 5,848
| 25%
| Litton Loan Servicing LP
| 110,795
| 30,114
| 18,454
| 942 | 19%
|
| Wachovia Mortgage, FSB |
86,461 |
11,418
| 2,443
| 873
| 3%
|
| Aurora Loan Services, LLC |
77,985 |
43,666 |
21,299 |
2,236 | 36% |
Saxon Mortgage Services, Inc.
|
71,429 |
40,375 |
28,685 |
4,989
| 48% |
| GMAC Mortgage, Inc. |
65,751 |
45,880
|
21,330
|
1,352 | 50% |
Ocwen Financial Corporation, Inc.
|
65,608 |
18,938 |
7,032 |
4,836
| 21% |
Select Portfolio Servicing
|
62,041
|
50,149 |
17,915
|
1,402 | 40% |
HomeEq Servicing
|
41,513 |
3,250 |
1,333 |
16
| 5% |
PNC Mortgage
|
41,365 |
20,472 |
13,141
|
832 | 32% |
| Nationastar Mortgage LLC |
49,556 |
24,399 |
12,953 |
696
| 31% |
| US Bank NA |
29,393 |
10,626 |
6,673
|
2,366 | 27% |
| Carrington Mortgage Services LLC |
18,823 |
2,781 |
693 |
33
| 8% |
| Green Tree Servicing LLC |
11,250 |
5,604 |
3,728 |
389 | 35% |
Bayview Loan Servicing, LLC
|
10,413 |
4,603 |
3,564 |
48
| 37% |
Franklin Credit Management Corporation
|
9,527 |
76 |
8 |
NA
| 0% |
| CCO Mortgage |
5,387 |
1,169 |
1,103 |
311
| 21% |
Bank United
|
5,287 |
1,211 |
816 |
629
| 18% |
Other SPA Servicers
|
22,981 |
2,635 |
1,131 |
NA
| 8% |
| Other GSE Servicers |
277,253 |
NA
|
28,612 |
NA | 15% |
| TOTAL |
3,404,501 |
1,269,937 |
830,438 |
76,482 | 28% |
|
|
|
|
|
|
| Source: US Treasury
Department |
|
|
|
|
|
|
|