Making Home Affordable Program Performance Report Through March Inside: Report Highlights

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1 Making Home Affordable Report Highlights Over 670,000 Homeowners Granted Permanent Modifications More than 6,000 new permanent modifications were reported in March; some began in prior months and were recently entered into the HAMP system of record. Homeowners granted permanent modifications realize aggregate reductions in monthly mortgage payments of nearly $5.9 billion, program to date. Additionally, servicers continue to start trial modifications at a steady pace, averaging about 9,000 new trial modifications for the last six months. More than.5 million homeowners have entered trial modifications since program inception. Permanent Modifications Perform Well Over Time; Larger Payment Reductions Exhibit Stronger Performance Homeowners whose housing payment was cut by more than 50% through a HAMP permanent modification performed significantly better than those with payment reductions of 0% or less. After one year, fewer than % of borrowers with a payment reduction greater than 50% were 60+ days delinquent. At months, more than 84% of homeowners remain in HAMP permanent modifications. The remaining 6% have been disqualified from the program for missing three consecutive payments. HAMP permanent modifications continue to be sustained at better rates than industry modifications. Inside: Improved Report Format Revamped presentation includes program-level data first, followed by servicer-specific performance data. Expanded chart sizes for easier readability. Inside: SUMMARY RESULTS: Snapshot of MHA Programs Characteristics of First Lien Modifications Performance of Permanent Modifications HAMP Activity by State HAMP Activity by MSA/ Homeowner Outreach Aged Trials SERVICER RESULTS: Modification Activity by Servicer Trial Length Conversion Rate Disposition of Homeowners Not in HAMP Homeowner Experience Modifications by Investor Type APPENDICES: Participants in MHA Programs Definitions of Compliance Activities Areas of Compliance Emphasis

2 Making Home Affordable: Summary Results HAMP Eligibility (As of Feb. 8, 0) HAMP Activity: First Lien Modifications HAMP is designed to lower monthly mortgage payments to help struggling homeowners stay in their homes and prevent avoidable foreclosure. Total Eligible Delinquent Loans,8,406 Eligible Delinquent Borrowers,4,857 Second Lien Modification Program (MP) Activity The Second Lien Modification Program (MP) provides assistance to homeowners in a first lien permanent modification who have an eligible second lien with a participating servicer. All Second Lien Modifications Started,98 Note: Number of modifications is net of cancellations, which are primarily due to servicer data corrections. Trial Modifications Permanent Modifications Trial Plan Offers Extended (Cumulative),80,7 All Trials Started,559,0 Trials Reported Since February 0 Report 4 6,87 Trial Modifications Canceled (Cumulative) 75,474 Active Trials 7,6 All Permanent Modifications Started 670,86 Permanent Modifications Reported Since February 0 Report 6,4 Permanent Modifications Canceled (Cumulative) 5 8,70 Home Affordable Foreclosure Alternatives (HAFA) Activity The Home Affordable Foreclosure Alternatives Program (HAFA) offers incentives for homeowners looking to exit their homes through a short sale or deed in lieu of foreclosure. All HAFA Agreements Started,66 HAFA Transactions Completed 5,447 Servicer agreement with homeowner for terms of potential short sale, which lasts at least 0 days; or agreement for a deed-in-lieu transaction. A short sale requires a third-party purchaser and cooperation of junior lienholders and mortgage insurers to complete the transaction. All HAFA Agreements Started include HAFA Transactions Completed. Treasury FHA-HAMP Modification Activity Active Permanent Modifications 586,96 Estimated eligible 60+ day delinquent loans as reported by servicers as of February 8, 0, include conventional loans: in foreclosure and bankruptcy. with a current unpaid principal balance less than $79,750 on a one-unit property, $94,00 on a two-unit property, $,9,50 on a three-unit property and $,40,400 on a four-unit property. on a property that was owner-occupied at origination. originated on or before January, 009. 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. 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 %, 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 servicing agreements preclude modification. Exclusions for DTI and NPV results are estimated using market analytics. As reported in the weekly servicer survey of large SPA servicers through March, 0. 4 Servicers may enter new trial modifications into the HAMP system of record at anytime. 5 A permanent modification is canceled when the borrower has missed three consecutive monthly payments. Includes,6 loans paid off. Note: Unless specified, exhibits in this report refer to HAMP first lien modification activity. The Treasury FHA-HAMP program provides assistance to eligible homeowners with FHA-insured mortgages. All Treasury FHA-HAMP Trial Modifications Started,860 Treasury FHA-HAMP Permanent Modifications Started,44 See Appendix A on Page 7 for servicer participants in additional Making Home Affordable programs.

3 Making Home Affordable: Summary Results HAMP Trials Started Homeowner Benefits and Modification Characteristics All Trials Started (000s),600, Cumulative Trial Starts (Left Axis) Monthly Trial Starts (Right Axis),0,8,05,57,09,8,05,5,84,44,444,57,559,506, New Trials Started (000s) Aggregate savings to homeowners who received HAMP first lien permanent modifications are estimated to total nearly $5.9 billion, program to date, compared with unmodified mortgage obligations. The median monthly savings for borrowers in active permanent first lien modifications is $55.94, or 7% of the median monthly payment before modification. Of trial modifications started, 78% of homeowners were at least 60 days delinquent at trial start. The rest were up to 59 days delinquent or in imminent default. 400 Dec '09 Jan '0 Feb Mar Apr May June July Aug Sep Oct Nov Dec Jan ' Feb Mar Source: HAMP system of record. Servicers may enter new trial modifications into the HAMP system of record at any time. For example, 6,87 trials have entered the HAMP system of record since the prior report; of those,,00 were trials with a first payment recorded in March 0. All Permanent Modifications Started (000s) Permanent Modifications Started (Cumulative) Dec '09Jan '0 Feb Mar Apr May June July Aug Sep Oct Nov Dec Jan ' Feb Mar Source: HAMP system of record The primary hardship reasons for homeowners in active permanent modifications are: 6.0% experienced loss of income (curtailment of income or unemployment).5% reported excessive obligation.8% reported an illness of the principal borrower Active permanent modifications feature the following modification steps: 00% feature interest rate reductions 59.5% offer term extension 0.5% include principal forbearance Select Median Characteristics of Active Permanent Modifications Loan Characteristic Before Modification After Modification Median Decrease Front-End Debt-to-Income Ratio 45.%.0% -4. pct pts Back-End Debt-to-Income Ratio 79.% 6.5% -4.8 pct pts Median Monthly Housing Payment $,40.76 $8.0 -$55.94 Ratio of housing expenses (principal, interest, taxes, insurance and homeowners association and/or condo fees) to monthly gross income. Ratio of total monthly debt payments (including mortgage principal and interest, taxes, insurance, homeowners association and/or condo fees, plus payments on installment debts, junior liens, alimony, car lease payments and investment property payments) to monthly gross income. Borrowers who have a back-end debt-to-income ratio of greater than 55% are required to seek housing counseling under program guidelines. Principal and interest payment.

4 Making Home Affordable: Summary Results Performance of Permanent Modifications (As of February 8, 0) This table shows the performance of permanent HAMP modifications at, 6, 9, and months of age and includes modifications that have aged at least, 6, 9, or months, as applicable. For example: Of loans that became permanent in the rd quarter of 00, 0.8% were 60+ days delinquent at six months seasoning. Delinquency: Months After Conversion to Permanent 6 9 Modification Became Permanent in: # # # # Q 009, %.5% 4, % 9.8% 4,7 9.6% 4.9% 4,70 5.4% 0.6% Q ,75 5.%.4% 48,4 9.6% 5.7% 5,05 5.% 0.6% 5,9 9.9% 5.% Q 00 5,805.7%.0% 5, % 5.% 60,68 6.0%.% 64,88 0.% 6.0% Q 00 50,55 5.0%.4% 60,5.8% 7.0% 7,46 6.9%.4% Q 00 86,98 4.7%.4% 97,05 0.8% 6.7% Q ,59 4.%.5% ALL 469,89 4.6%.% 46, % 6.% 87,97 6.4%.7%,87 0.% 5.9% For permanent loans aged at least months as of Feb. 8, 0, as reported by servicers through March 7, 0. The table stratifies the data by the quarter in which the permanent modification became effective and provides two separate performance metrics: 60+ days delinquent: All loans that have missed two or more consecutive monthly payments, including 90+ days delinquent loans. 90+ days delinquent: All loans that have missed three or more consecutive monthly payments. Loan payment status is not reported by servicers after program disqualification (90+ days delinquent). Therefore, 90+ days delinquent loans are included in each of the 60+ days delinquent and 90+ days delinquent metrics for all future reporting periods, even though some loans may have cured or paid off following program disqualification. This table reflects a total of 6,807 disqualified loans that have aged, 6, 9, or months through the February activity period as reported by servicers through March 7, 0. Servicers are required to report monthly payment information on HAMP modifications in the form of an Official Monthly Report (OMR). If a servicer does not report an OMR for a loan in a given month, the performance of that loan is not included in the table for that month. This table reflects improved servicer OMR reporting as the modification ages, causing the total loan count for each quarter in months 6 and beyond to be higher than the count in month. Reported loan counts may shift from prior reports due to servicer data corrections. Once a loan is paid off, it is no longer reflected in future periods. Beyond months, performance will be noted in 6-month increments, beginning next quarter. This table will be published quarterly. 4

5 Making Home Affordable: Summary Results Performance of Permanent Modifications by Homeowner Payment Reduction (As of February 8, 0) This chart and the table that follows show the performance of permanent HAMP modifications at, 6, 9, and months of age as related to homeowner payment reduction. For example: Of loans that featured a payment reduction between 40% and 50%, 8.5% were 60+ days delinquent at six months seasoning. 40% 60+ Day Delinquency Rate by Payment Reduction Decreased by 0% or less 60+ Day Delinquency Rate 0% 0% 0% Decreased above 0% up to and including 0% Decreased above 0% up to and including 40% Decreased above 40% up to and including 50% 0% 6 9 Months After Conversion to Permanent Modification Decreased by more than 50% Decrease From Before- Modification Principal + Interest Payment: # Delinquency: Months After Conversion to Permanent # # # % Decrease 9,08 7.9%.4% 89,5 8.%.% 75,7 6.7% 9.7% 4,780.% 6.0% (0%-0%] Decrease 7, %.7% 7,587.4% 7.9% 60,756 0.% 4.7% 4, % 0.0% (0%-40%] Decrease 8,4 4.4%.% 8,08 0.5% 6.% 68,907 6.%.6% 40,58 0.7% 6.% (40%-50%] Decrease 86,00.5% 0.9% 84, % 4.8% 70,558.% 9.% 4,047 7.%.% >50% Decrease 5,64.6% 0.6% 4, %.%,44 9.% 6.% 64,08.7% 8.8% ALL 469,89 4.6%.% 46, % 6.% 87,97 6.4%.7%,87 0.% 5.9% Note: For permanent loans aged at least months as of Feb. 8, 0, as reported by servicers through March 7, 0. See previous page for technical notes. 5

6 Making Home Affordable: Summary Results HAMP Activity by State Modification Activity by State Active Permanent % of Active Permanent % of State Trials Modifications Total Total State Trials Modifications Total Total AK % MT % AL 868,9 4,6 0.6% NC,8 0,90,48.8% AR 0,85,587 0.% ND % AZ 5,57 7,96,08 4.6% NE % CA,459 9,69 7,7 8.8% NH 590,77,7 0.5% CO,597 8, 9,89.4% NJ 4,4 8,95,48.% CT,585 7,464 9,049.% NM 48,864,45 0.% DC 999,0 0.% NV,89 5,96 8,685.6% DE 49,87,46 0.% NY 6,60 6,78, % FL 7,866 69,94 87,060.0% OH,40,76 6,6.% GA 5,075,408 6,48.7% OK 84,8,7 0.% HI 5,49, % OR,49 6,4 7,860.% IA 66,48,849 0.% PA,88,45 5,08.% ID 54,44, % RI 674,079,75 0.5% Note: Includes active trial and permanent modifications from the official HAMP system of record. HAMP Modifications 5,000 and lower 0,00 5,000 5,00 0,000 5,00 and higher 0,00 0,000 Mortgage Delinquency Rates by State IL 7,88,77 8,95 5.4% SC,68 5,580 6, % IN,7 5,770 7,4.0% SD % KS 59,78,77 0.% TN,56 6,00 7,546.0% KY 550,8, % TX 4,048 5,07 9,075.6% LA 9,06 4,09 0.6% UT,9 5,540 6,7 0.9% MA,7 4,78 7,90.5% VA,9 4,5 7,46.4% MD 4,0 9,06,8.% VT % ME 86,66,0 0.% WA,879,470 4,49.0% MI 4,65 9,65,87.% WI,408 5,785 7,9.0% MN,08 0,595,6.7% WV 78 90,08 0.% MO,476 6,08 7,684.% WY % MS 49,8, % Other* 78,578,06 0.% *Includes Guam, Puerto Rico and the U.S. Virgin Islands. Note: Total reflects active trials and active permanent modifications. Source: 4 th Quarter 00 National Delinquency Survey, Mortgage Bankers Association. 60+ Day Delinquency Rate 5.0% and lower 0.0% - 5.0% 0.0% 5.0% - 0.0% 5.0% - 0.0% and higher 6

7 Making Home Affordable: Summary Results 5 Metropolitan Areas With Highest HAMP Activity Call Center Volume Metropolitan Statistical Area Los Angeles-Long Beach-Santa Ana, CA New York-Northern New Jersey- Long Island, NY-NJ-PA Riverside-San Bernardino-Ontario, CA Active Trials Permanent Modifications Total HAMP Activity % of All HAMP Activity 9,874 40,58 50,4 7.0% 8,5 5,98 44,45 6.% 6,76,05 7,769 5.% Chicago-Joliet-Naperville, IL-IN-WI 6,9 0,686 7,599 5.% Total Number of Calls Taken at HOPE Borrowers Receiving Free Housing Counseling Assistance Through the Homeowner s HOPE TM Hotline Program to Date March,6,4 8,79,00,770 9,90 Miami-Fort Lauderdale-Pompano Beach, FL 7,60 7,445 5, % Source: Homeowner s HOPE TM Hotline. Phoenix-Mesa-Glendale, AZ 4,084,99 7,076.7% Washington-Arlington-Alexandria, DC-VA-MD-WV 4,07 0,4 4,470.4% Atlanta-Sandy Springs-Marietta, GA 4,058 7,06,64.9% Las Vegas-Paradise, NV,840,540 5,80.% Detroit-Warren-Livonia, MI,57,870 4,407.0% Selected Homeowner Outreach Measures Homeowner Outreach Events Hosted Nationally by Treasury and Partners (cumulative) Homeowners Attending Treasury-Sponsored Events (cumulative) 5 5,9 Orlando-Kissimmee-Sanford, FL,6,075,696.9% Servicer Solicitation of Borrowers (cumulative) 7,56,9 San Francisco-Oakland-Fremont, CA Boston-Cambridge-Quincy, MA-NH Sacramento-Arden-Arcade- Roseville, CA San Diego-Carlsbad-San Marcos, CA,99 0,68,69.9%,04 0,576,780.8%,85 9,948,.7%,67 9,97,8.7% Page views on MakingHomeAffordable.gov (March 0),458,8 Page views on MakingHomeAffordable.gov (cumulative) 5,46,0 Source: Survey data provided by SPA servicers. Servicers are encouraged by HAMP to solicit information from borrowers 60+ days delinquent, regardless of eligibility for a HAMP modification. Note: Total reflects active trials and active permanent modifications. A complete list of HAMP activity for all metropolitan areas is available at 7

8 Making Home Affordable: Summary Results Aged Trials 00,000 90,4 The volume of trials lasting 6 months or longer has fallen to below 6, ,000 65,54 Program guidance directs servicers to cancel or convert trial modifications after three or four monthly payments, depending on circumstances. 7,574 00,000 94,69 76,50 69,48 50,000 49,9 9,75 6,84,07 6,6 0 May 00 June July Aug Sept Oct Nov Dec Jan 0 Feb March Trials Lasting 6 Months or Longer At End of Month Active trials initiated at least six months ago. See page 9 for servicer volume of aged-trials. These figures include trial modifications that have been converted to permanent modifications by the servicer and are pending reporting to the HAMP system of record. 8

9 Servicer American Home Mortgage Servicing Inc. Making Home Affordable: Servicer Results HAMP Modification Activity by Servicer As of Feb. 8, 0 Cumulative As of March, 0 Estimated Eligible 60+ Day Delinquent Borrowers Trial Plan Offers Extended All HAMP Trials Started All HAMP Permanent Modifications Started Trial Modifications Reported Since February 0 Report Active Trial Modifications Active Trial Modifications Lasting 6 Months or Longer 4 Active Permanent Modifications 49,70 4,748,597,47,670 4,05,085 0,76 Aurora Loan Services, LLC 7,67 50,6 9,7 5,9 5,908 95,69 Bank of America, NA 5 8,54 509,907 78,584,96,6 4,49 9,64 07,00 CitiMortgage, Inc. 9,45 74,885 9,545 49,886,40 6,0,740 44,76 GMAC Mortgage, LLC 4,09 7,699 59,477 4,688,85, ,650 Green Tree Servicing LLC 5,975 8,74 9,854 5, ,75 J.P. Morgan Chase Bank, NA 6 99,075 99,987 4,84 90,78 8,90 4,688,5 75,97 Litton Loan Servicing LP 40,65 4,07 6, 0,767 7, ,94 Nationstar Mortgage LLC,566,7 54,55 6,9 65,50 55,69 Ocwen Loan Services LLC 40,796 46,64 4,4,6 7 4, ,058 OneWest Bank 40,89 67,49 50,5 6,48 698,50 45,879 PNC Mortgage 7,557 4,0 9, 5, ,44 Saxon Mortgage Services, Inc.,0 4,00 7,959 5,06 9,057,47 Select Portfolio Servicing 6,8 66,986 4,97,9 7, ,54 US Bank NA,67 6,54 6,569,48 449, ,888 Wells Fargo Bank, NA 8 5,40 07,687,05 89,4,68 5,56,709 80, Other SPA Servicers 9 8,8 5,890 4,50 5,0 87,995 47,44 Other GSE Servicers 0 79,98 NA,549 67,067,646 7,099 5,898 60,87 Total,4,857,80,7,559,0 670,86 6,87 7,6 6,6 586,96 Estimated eligible 60+ day delinquent borrowers as reported by servicers as of February 8, 0, include those in conventional loans: in foreclosure and bankruptcy. with a current unpaid principal balance less than $79,750 on a oneunit property, $94,00 on a two-unit property, $,9,50 on a three-unit property and $,40,400 on a four-unit property. on a property that was owner-occupied at origination. originated prior to January, 009. 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 % or a negative NPV test. Owners of vacant properties or properties otherwise excluded. Exclusions for DTI and NPV are estimated using market analytics. As reported in the weekly servicer survey of large SPA servicers through March, 0. As reported into the HAMP system of record by servicers. Excludes FHA-HAMP modifications. Subject to adjustment based on servicer reconciliation of historic loan files. Totals reflect impact of servicing transfers. Servicers may enter new trial modifications into the HAMP system of record at any time. 4 These figures include trial modifications that have been converted to permanent modifications by the servicer and are pending reporting to the HAMP system of record. 5 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. 6 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation. 7 Formerly National City Bank. 8 Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage, FSB. 9 Other SPA servicers are entities with less than 5,000 estimated eligible 60+ day delinquent borrowers as of February 8, 0, that have signed participation agreements with Treasury and Fannie Mae. A full list of participating servicers is in Appendix A. 0 Includes servicers of loans owned or guaranteed by Fannie Mae and Freddie Mac. Includes GSE loans transferred from SPA servicers. 9

10 Making Home Affordable: Servicer Results Length of Trial Upon Conversion Servicers are directed to cancel or convert trial modifications after three or four monthly payments, depending on circumstances Months Program Average: 4.8 Months Am. Home Servicing Aurora Bank of America CitiMortgage GMAC Green Tree JP Morgan Chase Litton Nationstar Ocwen OneWest PNC Mortgage Saxon SPS US Bank Wells Fargo Other GSE servicers Other SPA Servicers For all permanent modifications started. 0

11 Making Home Affordable: Servicer Results Conversion Rate 00% 80% 78% Of Trials Started Pre-6//0: 4% Converted to Permanent Modification % Pending Processing or Decision Of Eligible Trials Started Post-6//0: 68% Converted to Permanent Modification % Pending Processing or Decision 7% 79% 74% Following the implementation of verified income documentation in June 00, rates of converting trial modifications into permanent modifications rose for most servicers. 78% 76% 67% 8% 75% 84% 75% 70% 8% Conversion Rate 60% 40% 65% 54% 6% 57% 55% 0% 0% Am. Home Servicing Aurora Bank of America CitiMortgage GMAC Green Tree JPMorgan Chase Litton Nationstar Ocwen OneWest PNC Mortgage Saxon SPS U.S. Bank Wells Fargo Other GSE Servicers Other SPA Servicers Average of Post 6//0 Starts Average of Pre-6//0 Starts Note: Per program guidelines, effective June, 00 all trials must be started using verified income. Prior to June, some servicers initiated trials using stated income information. As measured against trials eligible to convert those three months in trial, or four months if the borrower was at risk of imminent default at trial modification start. Permanent modifications transferred among servicers are credited to the originating servicer. Trial modifications transferred are reflected in the current servicer s population.

12 Making Home Affordable: Servicer Results Disposition Path Homeowners in Canceled HAMP Trial Modifications Survey Data Through February 0 (0 Largest Servicers) Servicer American Home Mortgage Servicing Inc. Homeowners Whose HAMP Trial Modification Was Canceled Who Are in the Process of: Action Pending Action Not Allowed Bankruptcy in Process Borrower Current Alternative Modification Payment Plan Loan Payoff Short Sale/ Deed-in- Lieu Foreclosure Starts Foreclosure Completions Total (As of February 0) , ,0 Bank of America, NA 9,876 5,59 4,67 77,006,9,4,6 6,454 5,05 07,9 CitiMortgage Inc. 7,9,78 5,654 9,449,009,480,767 9,60,090 7,96 GMAC Mortgage, LLC,68 47,086 5, ,766,,48 The most common causes of trial cancellations from all servicers are: Insufficient documentation Trial plan payment default Ineligible borrower: first lien housing expense is already below % of household income JP Morgan Chase Bank NA 4 8, ,809 59, ,056 5,65,84 9,89 5,557 Litton Loan Servicing LP,68 599,75, ,76,059 74,800 Ocwen Loan Services LLC , , ,0 OneWest Bank ,76 5 7,00 4,5, 0,65 Select Portfolio Servicing,607 59,46 5, ,9,7,6 5,796 Wells Fargo Bank NA 5,54 78,9 59,4 94 8,60 4,485 7,58,94 8,88 TOTAL (These 0 Largest Servicers) 75,44.7%,.% 5,8 8.9% 6, % 6,00.0% 8,.% 40,99 6.8% 88,89 4.9% 6,69 6.% 594,0 00.0% Note: Data is as reported by servicers for actions completed through February 8, 0. Survey data is not subject to the same data quality checks as data uploaded into the HAMP system of record. Trial loans that have been canceled, but no further action has yet been taken. An arrangement with the borrower and servicer that does not involve a formal loan modification. Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. 4 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation. 5 Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage, FSB. Note: Excludes cancellations pending data corrections and loans otherwise removed from servicing portfolios.

13 Making Home Affordable: Servicer Results Disposition Path Homeowners Not Accepted for HAMP Trial Modifications Survey Data Through February 0 (0 Largest Servicers) Servicer American Home Mortgage Servicing Inc. Homeowners Not Accepted for a HAMP Trial Modification Who Are in the Process of: Action Pending Action Not Allowed Bankruptcy in Process Borrower Current Alternative Modification Payment Plan Loan Payoff Short Sale/ Deed-in- Lieu Foreclosure Starts Foreclosure Completions Total (As of February 0), ,48 4, ,7 5, ,44 Bank of America, NA 5, 6,70 49,0 79,00,,,54 47,65 5,775 70,9 CitiMortgage Inc. 6,0 8,57,746 9,50 6,4,67,876 8,76 5,47 0,7 GMAC Mortgage, LLC 4,754 6,94,94 8,500 4,,80 6,54,805,44 50,05 The most common causes of trials not accepted from all servicers are: Insufficient documentation Ineligible borrower: first lien housing expense is already below % of household income Ineligible mortgage JP Morgan Chase Bank NA 4 7,50 4,7 87,00 09,8,5 4,995 4,08 47,468,97 84,88 Litton Loan Servicing LP 8,576,748 8,006 5, ,4 8,49,495 54,8 Ocwen Loan Services LLC 7,647,886 7,805 0,597 6,95,488 4,988 5,65 5,899 9,898 OneWest Bank 5,665,985 4,7 0,8,98 809,767,89 6,77 69,6 Select Portfolio Servicing,74 6,4, ,7 966,44 Wells Fargo Bank NA 5 6,0 4,9 45,5 55,8,758 0,54,6 7,99,69 76,8 TOTAL (These 0 Largest Servicers),6 5.4% 8,686.8% 86,8 0.8% 95, % 8,099.0% 68,56 5.0% 79,85 5.8% 88,090.7% 76,55 5.6%,7, % Note: Data is as reported by servicers for actions completed through February 8, 0. Survey data is not subject to the same data quality checks as data uploaded into the HAMP system of record. Homeowners who were not approved for a HAMP trial modification, but no further action has yet been taken. An arrangement with the borrower and servicer that does not involve a formal loan modification. Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. 4 J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation. 5 Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage, FSB. Note: Excludes loans removed from servicing portfolios.

14 Making Home Affordable: Servicer Results Homeowner Experience (0 Largest Servicers) Seconds Average Speed to Answer Homeowner Calls (February) Am. Home Calls to Servicing Servicer: Bank of America Average Speed to Answer Calls to Homeowner s HOPE TM Hotline for February: 6.6 Seconds CitiMortgage GMAC JP Morgan Chase Call Abandon Rate (February) 6% 5% 4% % % % 0% Am. Home Servicing Bank of America CitiMortgage GMAC JP Morgan Chase Litton Ocwen OneWest SPS Wells Fargo Source: Survey data through February 8, 0 from servicers on call volume to loss mitigation lines; Homeowner s HOPE TM Hotline. Homeowner s HOPE TM Hotline Average Call Abandon Rate for February:.4% Litton Ocwen OneWest SPS Wells Fargo Source: Survey data through February 8, 0, from servicers on call volume to loss mitigation lines; Homeowner s HOPE TM Hotline. Program to date, there have been,048,70 calls to the Homeowner s HOPE TM Hotline regarding a specific SPA servicer, of which 6.5% included complaints. Below shows specific complaint rates. % % of Calls for Specific Servicer Source: Homeowner s HOPE TM Hotline. Note: Complaint rate is the share of a specific servicer s call volume that are complaints (e.g., for all calls about OneWest, 0.% included complaints.) Calendar Servicer Complaint Rate to Homeowner s HOPE TM Hotline (Program to Date, Through March) 0% 9% 8% 7% 6% 5% 4% % Servicer Time to Resolve Third-Party Escalations (Program to Date, Through March) Am. Home Servicing Am. Home Servicing Program to Date Average: 6.5% Bank of America Bank of America CitiMortgage GMAC JP Morgan Chase Target: 0 Calendar CitiMortgage GMAC JP Morgan Chase Litton Ocwen OneWest SPS Wells Fargo Resolved: 407 4,966, , ,694 Cases (PTD) Source: HAMP Solutions Center. Target of 0 calendar days, effective Feb., 0, includes an estimated 5 days of processing by HAMP Solutions Center. Litton Ocwen OneWest SPS Wells Fargo Complaints (PTD):,90,98 5,88,74,789,465, ,0 4

15 Making Home Affordable: Servicer Results Modifications by Investor Type (Large Servicers) Servicer GSE Private Portfolio Total Active Modifications Bank of America, NA 88,76 5,45 8,80 50,449 JP Morgan Chase NA 46,6 6,96 7,58 00,66 Wells Fargo Bank, NA 47,5,98 4,466 95,647 CitiMortgage, Inc. 9,68 4,460 6,670 50,768 GMAC Mortgage, LLC,55 5,955 0,9 40,4 Ocwen Loan Services LLC 7,065,676 0,874 OneWest Bank,0,070,06 7,9 Nationstar Mortgage LLC 9,64 5,57,95 6,0 American Home Mortgage Servicing Inc.,7,477 4,797 Select Portfolio Servicing 50 6,7,47 9,695 Aurora Loan Services, LLC 7, 7, ,57 Saxon Mortgage Services Inc.,505,99,76 4,50 US Bank NA 8, 0 4,0,44 Litton Loan Servicing LP 9 0,694 0,798 PNC Mortgage 4 5, ,95 Green Tree Servicing LLC 5, ,85 Other HAMP Servicers 80,09 6,66 5,780 9,65 Total 84,449,605 06,5 74,79 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation. Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage, FSB. 4 Formerly National City Bank. Note: Figures reflect active trials and active permanent modifications. 5

16 Making Home Affordable Appendix A: Non-GSE Participants in HAMP Servicers participating in the HAMP First Lien Modification Program may also offer additional support for homeowners, including Home Affordable Foreclosure Alternatives (HAFA), a forbearance for unemployed borrowers through the Unemployment Program (UP), and Principal Reduction Alternative (PRA). Allstate Mortgage Loans & Investments, Inc. American Eagle Federal Credit Union American Home Mortgage Servicing, Inc AMS Servicing, LLC Aurora Loan Services, LLC Bank of America, N.A. Bank United Bay Federal Credit Union Bayview Loan Servicing, LLC Bramble Savings Bank Carrington Mortgage Services, LLC CCO Mortgage Central Florida Educators Federal Credit Union CitiMortgage, Inc. Citizens st National Bank Community Bank & Trust Company Community Credit Union of Florida CUC Mortgage Corporation DuPage Credit Union Eaton National Bank & Trust Co Farmers State Bank Fay Servicing, LLC Fidelity Homestead Savings Bank First Bank First Financial Bank, N.A. First Keystone Bank Franklin Credit Management Corporation Franklin Savings Fresno County Federal Credit Union Glass City Federal Credit Union GMAC Mortgage, LLC Grafton Suburban Credit Union Great Lakes Credit Union Greater Nevada Mortgage Services Green Tree Servicing LLC Hartford Savings Bank Hillsdale County National Bank HomEq Servicing HomeStarBank & Financial Services Horicon Bank Horizon Bank, NA Iberiabank IBM Southeast Employees' Federal Credit Union IC Federal Credit Union Idaho Housing and Finance Association iserve Residential Lending LLC iserve Servicing Inc. J.P.Morgan Chase Bank, NA Lake City Bank Lake National Bank Liberty Bank and Trust Co. Litton Loan Servicing Los Alamos National Bank Magna Bank Marix Servicing, LLC Midland Mortgage Company Midwest Bank & Trust Co. Midwest Community Bank Mission Federal Credit Union MorEquity, Inc. Mortgage Center, LLC Nationstar Mortgage LLC Navy Federal Credit Union Oakland Municipal Credit Union Ocwen Loan Services LLC OneWest Bank ORNL Federal Credit Union Park View Federal Savings Bank Pathfinder Bank PennyMac Loan Services, LLC PNC Bank, National Association PNC Mortgage Purdue Employees Federal Credit Union QLending, Inc. Quantum Servicing Corporation Residential Credit Solutions RG Mortgage Corporation RoundPoint Mortgage Servicing Corporation Saxon Mortgage Services, Inc. Schools Financial Credit Union SEFCU Select Portfolio Servicing Servis One Inc., dba BSI Financial Services, Inc. ShoreBank Silver State Schools Credit Union Specialized Loan Servicing, LLC Sterling Savings Bank Suburban Mortgage Company of New Mexico Technology Credit Union The Golden Credit Union U.S. Bank National Association United Bank United Bank Mortgage Corporation Vantium Capital, Inc. Vist Financial Corp. Wealthbridge Mortgage Corp. Wells Fargo Bank, NA 4 Wescom Central Credit Union Yadkin Valley Bank Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation. Formerly National City Bank. 4 Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage, FSB. 6

17 Making Home Affordable Appendix A: Participants in Additional Making Home Affordable Programs Second Lien Modification Program (MP) Bank of America, NA Bayview Loan Servicing, LLC CitiMortgage, Inc. Community Credit Union of Florida GMAC Mortgage, LLC Green Tree Servicing LLC iserve Residential Lending, LLC iserve Servicing, Inc. J.P.Morgan Chase Bank, NA Nationstar Mortgage LLC OneWest Bank PennyMac Loan Services, LLC PNC Bank, National Association PNC Mortgage Residential Credit Solutions Servis One Inc., dba BSI Financial Services, Inc. Wells Fargo Bank, NA 4 FHA First Lien Program (Treasury FHA-HAMP) Amarillo National Bank American Financial Resources Inc. Aurora Financial Group, Inc. Aurora Loan Services, LLC Banco Popular de Puerto Rico Bank of America, NA Capital International Financial, Inc. CitiMortgage, Inc. CU Mortgage Services, Inc. First Federal Bank of Florida First Mortgage Corporation Franklin Savings Gateway Mortgage Group, LLC GMAC Mortgage, LLC. Green Tree Servicing LLC Guaranty Bank iserve Residential Lending, LLC iserve Servicing, Inc. James B. Nutter & Company J.P.Morgan Chase Bank,NA M&T Bank Marix Servicing, LLC Marsh Associates, Inc. Midland Mortgage Company Nationstar Mortgage LLC Ocwen Loan Services LLC PennyMac Loan Services, LLC PNC Mortgage RBC Bank (USA) Residential Credit Solutions Saxon Mortgage Services, Inc. Schmidt Mortgage Company Select Portfolio Servicing Servis One Inc., dba BSI Financial Services, Inc. Stockman Bank of Montana Wells Fargo Bank, NA 4 Weststar Mortgage, Inc. FHA Second Lien Program (FHA LP) Bank of America, NA Bayview Loan Servicing, LLC CitiMortgage, Inc. Flagstar Capital Markets Corporation GMAC Mortgage, LLC. Green Tree Servicing LLC J.P.Morgan Chase Bank, NA Nationstar Mortgage LLC PNC Bank, National Association PNC Mortgage Residential Credit Solutions Saxon Mortgage Services, Inc. Select Portfolio Servicing Wells Fargo Bank, NA 4 Rural Housing Service Modification Program (RD-HAMP) Banco Popular de Puerto Rico Bank of America, N.A. Horicon Bank J.P.Morgan Chase Bank, NA Magna Bank Marix Servicing, LLC Midland Mortgage Company Nationstar Mortgage LLC Wells Fargo Bank, NA 4 Bank of America, NA includes Bank of America, NA, BAC Home Loans Servicing LP, Home Loan Services and Wilshire Credit Corporation. J.P. Morgan Chase Bank, NA includes EMC Mortgage Corporation. Formerly National City Bank. 4 Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage FSB. 7

18 Making Home Affordable Appendix B: Description of Compliance Activities Note: Areas of compliance emphasis and servicer-specific compliance data will be updated 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 based approach, MHA C conducts a number of different types of compliance activities to assess servicer compliance with HAMP guidelines for those servicers that have signed a servicer participation agreement with Treasury, in their servicing of those loans for which Treasury pays incentives (non GSE loans), as described below. On-Site Reviews: Implementation Reviews to assess the servicer s overall execution of HAMP. Areas covered include, but are not limited to, solicitation, eligibility, underwriting, document management, payment processing, reporting, and governance. MHA-C performs reviews of larger servicers on not less than a semi annual schedule and reviews smaller servicers on at least an annual schedule. On-Site Reviews: Readiness & Governance Reviews to assess the servicer s preparedness for complying with new or future HAMP requirements or to research a trend or potential implementation risk. MHA-C performs such reviews as needed, determined by frequency of new program guidance. NPV Reviews Reviews to assess 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), MHA-C assesses whether the servicer s recoded NPV model is accurately calculating NPV and whether the servicer s model usage is consistent with HAMP guidelines. Recoders are subject to off site testing at least quarterly and to on site reviews at least semi annually. For servicers using the Treasury NPV Web Portal, MHA-C reviews data submissions to the Portal on a monthly basis, and conducts on-site reviews as necessary to evaluate data submission issues. Loan File Reviews Reviews of samples of the servicer s non performing loan portfolio primarily to assess whether required steps in the modification process have been documented in the loan files and whether loan modification decisions were appropriate. This includes reviews of loans that have successfully converted to a permanent modification, to ensure they meet the HAMP guidelines. It also includes reviews of loans that have not been offered HAMP modifications, to ensure that their exclusion was appropriate ( Second Look reviews). MHA-C conducts these Loan File reviews on a statistical sample for each servicer (typically 00 loan files per larger servicer). Larger servicers non-performing loan portfolios are sampled and reviewed on a monthly cycle. MHA-C statistically samples and reviews smaller servicers non-performing loan portfolios on a quarterly or semi annual cycle. Incentive Payment Reviews Reviews to assess the accuracy and validity of Treasury incentive payments to borrowers and investors, including whether borrower payments are appropriately allocated to borrowers loan principal in accordance with HAMP guidelines. MHA-C performs such reviews at least annually on the largest servicers. (See next page for Areas of Compliance Emphasis) 8

19 Making Home Affordable Appendix B: Areas of Compliance Emphasis The past two years have seen substantive change in MHA programs as well as in the MHA operations of participating servicers. As new programs have been implemented and guidance has matured, Treasury s compliance goal first and foremost has been to ensure that homeowners are appropriately treated in accordance with MHA guidelines and have the opportunity to avoid foreclosure. In 0, Treasury will focus more intently on ensuring that servicers are maturing their MHA processes, accurately and timely processing MHA transactions, and employing appropriate internal governance efforts. Treasury will accomplish this by conducting more targeted or focused reviews, assessing servicer Quality Assurance or Internal Audit coverage of MHA activities, and enhancing the level of compliance-related information included in the MHA monthly reports. The following are current areas of emphasis for MHA C. Cancellations Servicers are required to comply with HAMP guidance when canceling loans in HAMP trials. The Second Look review process conducted by MHA-C has, and will continue to include, a focus on evaluating servicers cancellation activities, especially those around servicers timely and appropriate decisioning and borrower communications. MHA-C has performed targeted reviews of the cancellations of aged trials and will continue these reviews over the course of the next several months. MHA-C is evaluating whether servicers are making appropriate cancellation decisions, with a specific focus on those loans where the cancellation reason indicates that the borrower had not made timely payments. Servicers are required to maintain documentation supporting cancellation decisions and evidence that borrower notifications are provided timely with all required information. Pre-Foreclosure Certification Due to recent concerns around foreclosures and the issuance of related guidance in June 00, MHA-C is focusing on pre-foreclosure activities and certification requirements. Servicers may not refer any loan to foreclosure or conduct a scheduled foreclosure sale without first satisfying the "reasonable effort" solicitation standard and borrower communication requirements described in HAMP guidelines. In addition, within seven business days of a scheduled foreclosure sale, servicers must provide the foreclosure attorney or trustee with a written certification that the servicer has satisfied the requirements to solicit and evaluate eligible borrowers as defined by HAMP guidelines, and that all other available loss mitigation alternatives have been exhausted and a non-foreclosure outcome could not be reached. These reviews will include: Processes for satisfying the "reasonable effort" standard and for ensuring that consideration of MHA programs and borrower notifications are executed and appropriately documented; and Processes for completing consideration of HAMP and other foreclosure alternatives, as appropriate, prior to any foreclosure referral or foreclosure sale; and Processes for providing foreclosure attorneys or trustees with accurate and timely certifications prior to a scheduled foreclosure sale. IR Reporting and Data Integrity Servicers are required to submit HAMP loan-level data to the program s system of record (IR), and that data is required to be accurate and consistent with source documentation. IR data is used to monitor and report on HAMP activity levels and to calculate servicer, borrower, and investor incentive payments. As stated in prior reports, reporting and data integrity controls continue to be a focus. MHA-C conducted preliminary data mapping exercises with the Program Administrator and will be assessing servicers' information technology (IT) controls over IR reporting over the coming months, with an emphasis on system interfaces and reconciliations of data between systems. MHA-C will continue testing IR data against source documentation, including loan files, with particular attention on the data elements used in the establishment of borrower payments and the calculation of incentives. MHA-C will also continue to review servicers calculations for accuracy and consistency with HAMP guidelines. 9