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Chart: Performance by Mortgage Servicers Through December 2009

Chart: Performance by Mortgage Servicers Through December 2009

by Paul Kiel and Dan Nguyen, ProPublica - January 15, 2010

On Jan. 15, 2010, the Treasury Department released data showing how the largest mortgage servicers participating in the administration's $75 billion foreclosure prevention program have been performing. You can see that breakdown below. The data show activity through Dec. 31, 2009.

To give an indication of each servicer's performance as a percentage of its loans eligible for modification, the Treasury listed the number of eligible loans that are more than 60 days delinquent (that’s the "Est. Eligible Loans" listed below). Treasury only released data for servicers with over 5,000 eligible loans.

Under the program’s guidelines, servicers initially approve borrowers for a three-month trial period. If the homeowner makes the payments on time, sends in the required documentation and meets the program’s criteria for eligibility, the servicer is supposed to convert the modification to a permanent one at the end of that period. The data below show the number of loans that have moved to the permanent stage.

We’ve shown the number of permanent and failed mods as a percentage of the trial mods each servicer had begun as of Sept. 30. That’s because the trial stage is supposed to last three months, so trials begun after that date are not expected to have a final outcome.

Note: The "Only GSE servicers" row below refers to companies that have not enrolled in the Treasury Department programs, but do service loans owned or guaranteed by Fannie Mae or Freddie Mac. "Smaller servicers" refers to servicers enrolled in the program with fewer than 5,000 eligible loans.

Trial Mods Started: 902,620

Total Permanent Mods: 66,465

Name Entered Program Trial Mods Started as
Share of Est. Eligible Loans
Permanent Mods Failed Trial Mods
As % of Trial Mods Started,
as of September 30, 2009.
Bank United Oct 23, 2009 685 : 5422 (13%)
Google Chart
2
N/A
0
N/A
Franklin Credit Management Corporation Sep 11, 2009 0 : 9557 (0%)
Google Chart
0
N/A
0
N/A
U.S. Bank National Association Sep 9, 2009 7404 : 28524 (26%)
Google Chart
418
48.4%
2
0.2%
OneWest Bank Aug 28, 2009 24284 : 112846 (22%)
Google Chart
1,226
23.5%
46
0.9%
Litton Loan Servicing Aug 12, 2009 21113 : 111260 (19%)
Google Chart
959
43.0%
2,777
124.6%
HomEq Servicing Aug 5, 2009 1753 : 41817 (4%)
Google Chart
0
N/A
91
N/A
American Home Mortgage Servicing, Inc Jul 24, 2009 10918 : 124262 (9%)
Google Chart
232
52.7%
28
6.4%
Bayview Loan Servicing, LLC Jul 1, 2009 3653 : 10183 (36%)
Google Chart
106
54.1%
149
76.0%
Wachovia subsidiaries Jul 1, 2009 2437 : 82990 (3%)
Google Chart
344
17.0%
47
2.3%
PNC Mortgage Jun 26, 2009 13237 : 41136 (32%)
Google Chart
61
1.6%
1,023
26.6%
CCO Mortgage Jun 17, 2009 1132 : 5304 (21%)
Google Chart
5
3.2%
0
0.0%
Nationstar Mortgage May 28, 2009 14588 : 49026 (30%)
Google Chart
1,277
15.2%
1,135
13.5%
Aurora Loan Services May 1, 2009 36618 : 78225 (47%)
Google Chart
4,682
19.6%
10,024
42.0%
Carrington Mortgage Services Apr 27, 2009 1507 : 18937 (8%)
Google Chart
608
104.1%
0
0.0%
Green Tree Servicing Apr 24, 2009 3455 : 10927 (32%)
Google Chart
87
18.4%
100
21.1%
Bank of America subsidiaries (incl. Countrywide) Apr 17, 2009 206775 : 1046008 (20%)
Google Chart
3,183
3.3%
3,305
3.4%
Ocwen Financial Corporation Apr 16, 2009 12884 : 64797 (20%)
Google Chart
5,332
102.7%
125
2.4%
CitiMortgage Apr 13, 2009 119097 : 241981 (49%)
Google Chart
4,999
7.3%
6,099
8.9%
GMAC Mortgage Apr 13, 2009 32159 : 69281 (46%)
Google Chart
9,872
51.1%
1,615
8.4%
JPMorgan Chase subsidiaries Apr 13, 2009 156359 : 424965 (37%)
Google Chart
7,139
6.1%
2,392
2.0%
Saxon Mortgage Services Apr 13, 2009 36406 : 72709 (50%)
Google Chart
2,497
7.6%
2,995
9.1%
Select Portfolio Servicing Apr 13, 2009 29280 : 63690 (46%)
Google Chart
4,675
29.8%
7,206
45.9%
Wells Fargo Bank, NA Apr 13, 2009 126413 : 350169 (36%)
Google Chart
8,424
13.4%
7,705
12.2%
Only GSE servicers 39049 : 272365 (14%)
Google Chart
9,880
52.5%
2,031
10.8%
Smaller servicers 1414 : 20463 (7%)
Google Chart
457
95.4%
29
6.1%

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