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