Making Home Affordable Program Performance Report Through June Inside: Report Highlights. More Than 760,000 Permanent Modifications Started

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1 Making Home Affordable Report Highlights More Than 760,000 Permanent Started Program has shown steady entry to permanent modifications, averaging about 0,000 new permanent modifications each month for the past months. The conversion rate for homeowners entering trial modifications since June, 00 continues to improve. Of homeowners eligible to convert, 7% were granted permanent modifications with an average time to convert of.5 months a higher conversion rate and shorter time to convert than earlier in the program. Homeowners receiving permanent modifications save a median of $5 each month, or 7% of the median before-modification payment. Program to date, homeowners in permanent modifications have realized aggregate savings in monthly mortgage payments of approximately $7. billion. Permanent Continue to Perform Well Over Time Homeowners in HAMP modifications continue to perform well over time, with redefault rates lower than experienced for industry modifications. At six months, more than 9% of homeowners remain in permanent modifications, with just 0.5% of homeowners days delinquent. At one year, more than 8% of homeowners remain in the program. Payment reduction is strongly correlated with permanent modification sustainability. At one year, more than 9% of homeowners with a payment reduction greater than 50% remain in the program, exceeding the performance of modifications with less substantial payment reductions. Inside: SUMMARY RESULTS: First Lien Modification Activity Performance of Permanent - First Lien Modification Characteristics/ Treasury-FHA HAMP Activity 5 Activity for HAFA, PRA and UP 6 Second Lien Modification Activity 7 HAMP Activity by State 8 HAMP Activity by MSA/ Homeowner Outreach 9 Aged Trials 0 SERVICER RESULTS: Modification Activity by Servicer Trial Length Conversion Rate Disposition of Homeowners Not in HAMP -5 Homeowner Experience 6 by Investor Type 7 APPENDICES: Participants in MHA Programs 8-9

2 Making Home Affordable: Summary Results HAMP Activity: First Lien HAMP Trials Started HAMP is designed to lower monthly mortgage payments to help struggling homeowners stay in their homes and prevent avoidable foreclosure. HAMP Eligibility (As of May, 0) Trial Total Eligible Delinquent Loans,60,670 Eligible Delinquent Borrowers,0,7 Trial Plan Offers Extended (Cumulative),87, All Trials Started,69,8 Trials Reported Since May 0 Report,659 Trial Canceled (Cumulative) 760,796 All Trials Started (000s),800,500, Cumulative Trial Starts (Left Axis),60,6,69 Monthly Trial Starts (Right Axis),575,5,8,5,6,5,85,5,0,8,06,57,09,8, New Trials Started (000s) Permanent Active Trials 5,55 All Permanent Started 76,07 Permanent Reported Since May 0 Report,60 Permanent Canceled (Cumulative) 5 06,07 Active Permanent 657,0 Estimated eligible day delinquent loans as reported by servicers as of May, 0, include conventional loans: in foreclosure and bankruptcy. with a current unpaid principal balance less than $79,750 on a one-unit property, $9,00 on a two-unit property, $,9,50 on a three-unit property and $,0,00 on a four-unit property. on a property that was owner-occupied at origination. originated on or before January, 009. Estimated eligible 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 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, unemployed borrowers, manufactured housing loans with title/chattel issues that exclude them from HAMP, loans where the investor pooling and servicing agreements preclude modification, and trial and permanent modifications disqualified from HAMP. Exclusions for DTI and NPV results are estimated using market analytics. As reported in the weekly servicer survey of large SPA servicers through June 0, 0. 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,58 loans paid off. Note: Unless specified, exhibits in this report refer to HAMP first lien modification activity. 00 Dec 009 Mar 00 June Sep Dec Mar 0 June Source: HAMP system of record. Servicers may enter new trial modifications into the HAMP system of record at any time. For example,,659 trials have entered the HAMP system of record since the prior report; of those,,96 were trials with a first payment recorded in June 0. All Permanent Started (000s) Permanent Started (Cumulative) Dec 009 Mar 00 June Sep Dec Mar 0 June Source: HAMP system of record. 0

3 Making Home Affordable: Summary Results Performance of Permanent (As of May, 0) This table shows the performance of permanent HAMP modifications at, 6, 9, and 5 months of age and includes modifications that have aged at least, 6, 9,, or 5 months, as applicable. For example: Of loans that became permanent in the rd quarter of 00, 0.7% were days delinquent at six months seasoning. Delinquency: Months After Conversion to Permanent Modification Became Permanent in: Q 009,58 9.8%.5%, 5.0% 9.8%,70 9.6% 5.0%,689 5.% 0.7%, % 5.% Q 009,56 5.%.% 8,99 9.6% 5.7% 5,076 5.% 0.6% 5,5 9.9% 5.% 5,0.% 9.% Q 00 5,76.7%.0% 5,57 9.7% 5.% 60,58 6.0%.% 6,808 0.% 6.0% 69,6.5% 9.% Q 00 50, %.% 60,08.8% 7.0% 7,7 6.9%.% 77,67 9.% 5.9% Q 00 86,907.7%.% 97,0 0.7% 6.7% 0,8.8% 0.% Q 00 58,55.%.% 6,06 8.6% 5.5% Q 0 7,88.6% 0.8% ALL 5,507.%.% 55,57 0.5% 6.% 9,90 5.8%.% 99,87 9.9% 5.9% 8,00.8% 9.% For permanent loans aged at least months as of May, 0, as reported by servicers through June 7, 0. The table stratifies the data by the quarter in which the permanent modification became effective and provides two separate performance metrics: days delinquent: All loans that have missed two or more consecutive monthly payments, including days delinquent loans. days delinquent: All loans that have missed three or more consecutive monthly payments. Loan payment status is not reported by servicers after program disqualification ( days delinquent). Therefore, days delinquent loans are included in each of the days delinquent and 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 87,06 disqualified loans that have aged, 6, 9, or 5 months through the May activity period as reported by servicers through June 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. This table will be published quarterly.

4 Making Home Affordable: Summary Results Performance of Permanent by Homeowner Payment Reduction (As of May, 0) This chart and the table that follows show the performance of permanent HAMP modifications at, 6, 9, and 5 months of age as related to homeowner payment reduction. For example: Of loans that featured a payment reduction between 0% and 50%, 8.% were days delinquent at six months seasoning. 0% Day Delinquency Rate by Payment Reduction Decreased by 0% or less Day Delinquency Rate 0% 0% 0% Decreased above 0% up to and including 0% Decreased above 0% up to and including 0% Decreased above 0% up to and including 50% Decreased by more than 50% 0% Program Average Months After Conversion to Permanent Modification Decrease From Before- Modification Principal + Interest Payment: Delinquency: Months After Conversion to Permanent % Decrease 05,89 7.%.% 0,8 7.7% 0.9% 95,65 6.0% 9.% 77,50.7% 6.%, % 0.9% (0%-0%] Decrease 85,6 5.%.6% 8,5.0% 7.8% 76,9 9.6%.% 6,.5% 9.8% 5,596 8.%.% (0%-0%] Decrease 96,8.%.% 9,099 0.% 6.% 87, %.% 70,90 0.% 6.0%,58.% 9.7% (0%-50%] Decrease 99,7.% 0.9% 96,88 8.%.7% 89,9.9% 8.9% 7,67 6.5%.9%, % 6.% >50% Decrease 5,60.% 0.6% 5, %.%,7 8.8% 6.0% 5,89.5% 8.7% 66,60.% 0.9% ALL 5,507.%.% 55,57 0.5% 6.% 9,90 5.8%.% 99,87 9.9% 5.9% 8,00.8% 9.% Note: For permanent loans aged at least months as of May, 0, as reported by servicers through June 7, 0. See previous page for technical notes.

5 Making Home Affordable: Summary Results Homeowner Benefits and First Lien Modification Characteristics Aggregate savings to homeowners who received HAMP first lien permanent modifications are estimated to total approximately $7. billion, program to date, compared with unmodified mortgage obligations. The median monthly savings for borrowers in active permanent first lien modifications is $5.8, or 7% of the median monthly payment before modification. Of trial modifications started, 79% of homeowners were at least 60 days delinquent at trial start. The rest were up to 59 days delinquent or current and in imminent default. The primary hardship reasons for homeowners in active permanent modifications are: 6.% experienced loss of income (curtailment of income or unemployment).% reported excessive obligation.9% reported an illness of the principal borrower Active permanent modifications feature the following modification steps: 00% feature interest rate reductions 59.7% offer term extension 0.5% include principal forbearance Select Median Characteristics of Active Permanent Loan Characteristic Before Modification After Modification Median Decrease Front-End Debt-to-Income Ratio 5.%.0% -. pct pts Back-End Debt-to-Income Ratio 78.6% 6.7% -.7 pct pts Treasury FHA-HAMP Modification Activity The Treasury FHA-HAMP Program provides assistance to eligible homeowners with FHA-insured mortgages. All Treasury FHA-HAMP Trial Started 5,76 Treasury FHA-HAMP Permanent Started,76 Median Monthly Housing Payment $,7.90 $8.77 -$5.8 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. 5

6 Making Home Affordable: Summary Results 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. HAFA has established important homeowner protections and an industry standard for streamlined transactions. In % of HAFA agreements started, the homeowner began a HAMP trial modification but later requested a HAFA agreement or was disqualified from HAMP. All HAFA Agreements Started, HAFA Agreements Active 8,7 HAFA Transactions Completed 0,75 Completed Transactions Short Sale 0,8 Completed Transactions Deed-in-Lieu 6 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 Agreements Active, HAFA Transactions Completed, and HAFA Transactions Canceled. Principal Reduction Alternative (PRA) Activity The Principal Reduction Alternative (PRA) requires servicers of non-gse loans to evaluate the benefit of principal reduction for mortgages with a loan-to-value ratio of 5% or greater when evaluating a homeowner for a HAMP first lien modification. While servicers are required to evaluate homeowners for PRA, they are not required to reduce principal as part of the modification. PRA may be a feature of a HAMP trial or permanent modification. All PRA Trial Started 6,58 PRA Trial Active 8,95 All PRA Permanent Started 7,009 PRA Permanent Active 6,9 Median Principal Amount Reduced for Active Permanent $67,75 Median Principal Amount Reduced for Active Permanent (%) 0.7% Derived as the ratio of PRA amount to before-modification UPB, excluding capitalization. Servicer HAFA Activity by Servicer Agreements Started Agreements Completed Bank of America, NA,8,87 J.P. Morgan Chase Bank NA 7,7,596 Litton Loan Servicing LP,9 8 Select Portfolio Servicing, Inc., 59 Wells Fargo Bank, NA 6,9, All Other Servicers,95,088 Total, 0,75 Servicer agreement with homeowner for terms of potential short sale, which lasts at least 0 days; or agreement for a deed-inlieu 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 Agreements Active, HAFA Transactions Completed, and HAFA Transactions Canceled. 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. Unemployment Program (UP) Activity The Treasury Unemployment Program (UP) provides a temporary forbearance to homeowners who are unemployed. Treasury recently announced that unemployed homeowners must be considered for a minimum of months forbearance. All UP Forbearance Plans Started (Through May 0),99 UP Forbearance Plans With Some Payment Required 9,886 UP Forbearance Plans With No Payment Required,5 Note: Data is as reported by servicers via survey for UP participation through May, 0. 6

7 Making Home Affordable: Summary Results 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. This assistance can result in a modification of the second lien and even full or partial extinguishment of the second lien. MP requires that the first lien modification be permanent and active and that the second lien have an unpaid balance of more than $5,000 and a monthly payment of $00 or greater. All Second Lien Started (Cumulative),75 Second Lien Involving Full Lien Extinguishments,56 Second Lien Disqualified 88 Active Second Lien 0,86 Of the Active Second Lien : Second Lien Partially Extinguished,79 Second Lien Loan 9,58 Second Lien Extinguishment Details Average Amount of Full Extinguishment $67,7 Average Amount of Partial Extinguishment $6,8 Includes second lien modifications reported into HAMP system of record through the end of cycle for June 0 data, though the effective date may occur in July. Number of modifications is net of cancellations, which are primarily due to servicer data corrections. Includes 5 loans paid off. Second lien modifications follow a series of steps and may include capitalization, interest rate reduction, term extension and principal forbearance or forgiveness. See Appendix A for servicer participants in additional Making Home Affordable programs. 0,000 0,000 0,000 0,000 0 Servicer Second Lien Started (Cumulative) 67 99,5 Aug 00,7,95 5,568 Sep Oct Nov Dec Jan 0 9,5,586,75 7,887,58 0,998 Feb Mar Apr May June July Note: Includes second lien modifications reported into HAMP system of record through the end of cycle for June 0 data, though the effective date may occur in July. Number of modifications is net of cancellations, which are primarily due to servicer data corrections. Second Lien Modification Activity by Servicer Second Lien Active Partial Ext./ Started Full Ext. DQ Terms Modified Bank of America, NA,7,77 5, CitiMortgage, Inc,9 79, GMAC Mortgage, LLC, 0,09 J.P. Morgan Chase Bank NA, ,65 Wells Fargo Bank, NA 7, 6 6,970 Other SPA Servicers, Total,75, ,86 Note: Number of modifications started is net of cancellations, which are primarily due to servicer data corrections. Includes second liens paid off. 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 Wachovia Mortgage, FSB. 7

8 Making Home Affordable: Summary Results HAMP Activity by State Modification Activity by State % of U.S. HAMP Activity State % of U.S. HAMP Activity Active Permanent State Active Permanent State State Trials Total Trials Total AK % MT % AL 7,76,8 0.6% NC,98,00,98.8% AR 6,5,677 0.% ND 0.0% AZ,0 0,09,.% NE 5 90,057 0.% CA 8,89 58,66 86,85.% NH 508,00,58 0.5% CO,78 9,09 0,7.% NJ,70,0,9.% CT,6 8, 9,680.% NM,,56 0.% DC 78,6,0 0.% NV,8 6,78 9,59.5% DE,055,88 0.% NY 5,890 0,0 5,9.6% FL 5,09 77,86 9,90.0% OH,600,558 7,58.% GA,9,8 8,6.6% OK 88,507,795 0.% HI,5,95 0.% OR, 7,56 8,77.% IA,660,99 0.% PA,,687 6,08.% ID 6,500,96 0.% RI 57,77,0 0.5% IL 5,966 5,06,7 5.% SC,00 6, 7, 0.9% IN, 6,86 7,58.0% SD % KS 7,58,855 0.% TN,09 6,7 8,00.0% KY 6,89,950 0.% TX,6 7,05 0,.6% LA 767,557, 0.6% UT 95 6,7 7,88 0.9% MA,578 6,7 9,09.5% VA, 6,0 8,.% MD,5,09,509.% VT % ME 5,806,5 0.% WA,,0 5,5.0% MI,60,99 5,00.% WI,8 6, 7,59.0% MN,68,99,7.7% WV 0 977,7 0.% MO,0 6,80 8,.% WY % MS 6,5,98 0.% Other 67,807,79 0.% Total reflects active trials and active permanent modifications. Includes Guam, Puerto Rico and the U.S. Virgin Islands. Note: Includes active trial and permanent modifications from the official HAMP system of record. Source: st Quarter 0 National Delinquency Survey, Mortgage Bankers Association. HAMP 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 Day Delinquency Rate 5.0% and lower 0.0% - 5.0% 0.0% 5.0% - 0.0% 5.0% - 0.0% and higher 8

9 Making Home Affordable: Summary Results 5 Metropolitan Areas With Highest HAMP Activity 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 Total MSA HAMP Activity % of U.S. HAMP Activity 8,56 6,860 55, 7.% 7,50 0,678 8,8 6.% 5,5,50 9,97 5.% Chicago-Joliet-Naperville, IL-IN-WI 5,767,5 9,9 5.% Miami-Fort Lauderdale-Pompano Beach, FL 6,8,69 7,897.9% Phoenix-Mesa-Glendale, AZ,,707 7,80.6% Washington-Arlington-Alexandria, DC-VA-MD-WV,0,558 5,898.% Atlanta-Sandy Springs-Marietta, GA,5 9,8,68.9% Las Vegas-Paradise, NV,77,76 6,.% Detroit-Warren-Livonia, MI,6,97 5,5.0% San Francisco-Oakland-Fremont, CA,57,567 5,9.0% Orlando-Kissimmee-Sanford, FL MSA,7,,8.9% Boston-Cambridge-Quincy, MA-NH,85,8,659.8% San Diego-Carlsbad-San Marcos, CA,97,69,6.7% Sacramento-Arden-Arcade-Roseville, CA Note: Total reflects active trials and active permanent modifications.,99,59,5.7% Total Number of Calls Taken at HOPE Borrowers Receiving Free Housing Counseling Assistance Through the Homeowner s HOPE TM Hotline Source: Homeowner s HOPE TM Hotline. Call Center Volume Homeowner Outreach Events Hosted Nationally by Treasury and Partners (cumulative) Homeowners Attending Treasury-Sponsored Events (cumulative) 55 55,59 Servicer Solicitation of Borrowers (cumulative) 7,56,76 Page views on MakingHomeAffordable.gov (June 0) Program to Date June,,76 6,558,,9 9,5 Selected Homeowner Outreach Measures,77,58 Page views on MakingHomeAffordable.gov (cumulative),85,550 Source: Survey data provided by SPA servicers. Servicers are encouraged by HAMP to solicit information from borrowers days delinquent, regardless of eligibility for a HAMP modification. A complete list of HAMP activity for all metropolitan areas is available at 9

10 Making Home Affordable: Summary Results Aged Trials 00,000 90, The number of active trials lasting 6 months or longer has fallen to, ,000 65,5 Program guidance directs servicers to cancel or convert trial modifications after three or four monthly payments, depending on circumstances. 7,57 00,000 9,69 76,50 69,8 50,000 9,9 9,75 6,8,07 6,6 5,90,55,0 0 May 00 June July Aug Sept Oct Nov Dec Jan 0 Feb March April May June Trials Lasting 6 Months or Longer At End of Month Active trials initiated at least six months ago. See page for number of aged trials by servicer. 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 plus some portion which may be canceled. 0

11 Making Home Affordable: Servicer Results HAMP Modification Activity by Servicer As of May, 0 Cumulative As of June 0, 0 Servicer American Home Mortgage Servicing Inc. Estimated Eligible Day Delinquent Borrowers Trial Plan Offers Extended All HAMP Trials Started All HAMP Permanent Started Trial Reported Since May 0 Report Active Trial Active Trial Lasting 6 Months or Longer Active Permanent 0,57 7,07,588 6,8 7,76 58,585 Bank of America, NA 5 58,57 505,9 0,5 8, 6,67 5,90 9,90 7,55 CitiMortgage, Inc. 70,95 79,99 0,7 5,8 -- 5,7,79 6,6 GMAC Mortgage, LLC 7,96 75,089 6,9,6 89,55 8 8,076 J.P. Morgan Chase Bank, NA 6 6, 6,070 56,560 07,8 5, 0,708,85 89, Litton Loan Servicing LP,560,56 7,589,695 8, ,09 Ocwen Loan Servicing, LLC 9,7 8,89 5,5,80 57, ,0 OneWest Bank,79 70,505 5,669 8,9,6,97 6 6,006 Select Portfolio Servicing,97 67,90,97,57 8, ,860 Wells Fargo Bank, NA 7 9,09 0,6,666 0,88,9,7,76 9,9 Other SPA Servicers 8 98,065 07,6,07 0,7,9 9,9,7 9,86 Other GSE Servicers 9,8 NA 0,888 77,97,69,06,666 68,906 Total,0,7,87,,69,8 76,07,659 5,55,0 657,0 Estimated eligible day delinquent borrowers as reported by servicers as of May, 0, include those in conventional loans: in foreclosure and bankruptcy. with a current unpaid principal balance less than $79,750 on a one-unit property, $9,00 on a two-unit property, $,9,50 on a three-unit property and $,0,00 on a four-unit property. on a property that was owner-occupied at origination. originated on or before January, 009. Estimated eligible day delinquent borrowers exclude: 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. HAMP Trials and Permanent disqualified from HAMP. Unemployed borrowers. Exclusions for DTI and NPV are estimated using market analytics. As reported in the weekly servicer survey of large SPA servicers through June 0, 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. In cases where servicing transfers exceed new trial modifications reported, negative numbers are not presented. Servicers may enter new trial modifications into the HAMP system of record at any time. 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 plus some portion which may be canceled. 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 Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage, FSB. 8 Other SPA servicers are entities excluding the 0 largest servicers, by cap amount, that have signed participation agreements with Treasury and Fannie Mae. A full list of participating servicers is in Appendix A. 9 Includes servicers of loans owned or guaranteed by Fannie Mae and Freddie Mac. Includes GSE loans transferred from SPA servicers.

12 Making Home Affordable: Servicer Results Length of Trial Upon Conversion 9 8 The average months to convert an eligible trial modification into a permanent HAMP modification has decreased from 5. months for trials started prior to June, 00, to.5 months for trials started June, 00 or later. 7 6 Months Am. Home Servicing Bank of America CitiMortgage GMAC JP Morgan Chase Litton Ocwen OneWest SPS Wells Fargo Other GSE servicers Other SPA Servicers Trials Started Before 6//0 Trials Started On/After 6//0 Before 6//0 Average (5.) On/After 6//0 Average (.5) For all permanent modifications started. 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.

13 Making Home Affordable: Servicer Results Conversion Rate 00% 80% 85% Of Trials Started Before 6//0: % Converted to Permanent Modification % Pending Processing or Decision Of Eligible Trials Started On/After 6//0: 7% Converted to Permanent Modification 6% Pending Processing or Decision 75% 80% 7% Following the implementation of verified income documentation in June 00, rates of converting trial modifications into permanent modifications have substantially risen. 79% 79% 88% 8% 77% 80% 66% Conversion Rate 60% 0% 6% 0% 0% Am. Home Servicing Bank of America CitiMortgage GMAC JPMorgan Chase Litton Ocwen OneWest SPS Wells Fargo Other GSE Servicers Other SPA Servicers Average of Trials Started Before 6//0 (%) Average of Trials Started On/After 6//0 (7%) 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.

14 Making Home Affordable: Servicer Results Disposition Path Homeowners in Canceled HAMP Trial Survey Data Through May 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 May 0) , ,05 Bank of America, NA,6 7,80 9,550 69,950,9,69,8,566,096,9 CitiMortgage Inc. 7,090,707 5,65 9,6,006,76,76 9,60,085 7,79 GMAC Mortgage, LLC,5,07 5, ,60,80,600 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 7,58 78,7 56, ,97 6,59,905,95 6,659 Litton Loan Servicing LP,59 576,876, ,,50 887,8 Ocwen Loan Servicing, LLC 0 95, , ,579 OneWest Bank ,7 7,068,56,59 0,7 Select Portfolio Servicing,0 50,56 5,8 7, ,9,867 5,67 Wells Fargo Bank NA 5,587 80,8 56,89,50,99,506 6,8 0,96 8, TOTAL (These 0 Largest Servicers) 7,.% 5,5.6% 58,68 9.7% 5,78.% 6,7.% 5,.% 0,657 5.% 9,89 5.5%,9 7.5% 600,0 00.0% Note: Data is as reported by servicers for actions completed through May, 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. 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.

15 Making Home Affordable: Servicer Results Disposition Path Homeowners Not Accepted for HAMP Trial Survey Data Through May 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 May 0),807,00 8,9, ,697 6,690, 5,665 Bank of America, NA 6,88,69 7,77 75,757 5,79 5,88 6,8 6,07,9 9,796 CitiMortgage Inc.,59 8,6,5 5,98 5,59,58,75 7,5 6,57,870 GMAC Mortgage, LLC,97 5,9,59 5,9,85, 7, 6,06,569 7,577 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 8,787 5,0 85,9 8,68,689 9,7,5 6,9 7,6 58,55 Litton Loan Servicing LP 6,7,9 0,7 9,9 9 7,69 6,7,0 57, Ocwen Loan Servicing, LLC 5,78,5 7,76 9,705, 8,08,97 75,97 OneWest Bank 5,06,87,86,607,05,70,80,89 8,99 76,5 Select Portfolio Servicing,6 00,876, ,8,0,5 Wells Fargo Bank NA 5,686,000 50,6,560,68 5,,67,78,99 78,596 TOTAL (These 0 Largest Servicers) 9,56.7%,059.8% 8,5.7% 07,7 6.% 6,780.7% 9,55 5.9% 8,868 5.% 0,7.0% 9,9 5.8%,558, % Note: Data is as reported by servicers for actions completed through May, 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. 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. 5

16 Making Home Affordable: Servicer Results Homeowner Experience (0 Largest Servicers) Seconds Average Speed to Answer Homeowner Calls (May) Calls to Servicer: Am. Home Servicing Average Speed to Answer Calls to Homeowner s HOPE TM Hotline for May:. Seconds Bank of America Call Abandon Rate (May) % % % % 0% Am. Home Servicing Bank of America CitiMortgage GMAC JP Morgan Chase Homeowner s HOPE TM Hotline Average Call Abandon Rate for May: 0.9% CitiMortgage GMAC JP Morgan Chase Litton Ocwen OneWest SPS Wells Fargo Source: Survey data through May, 0, from servicers on call volume to loss mitigation lines; Homeowner s HOPE TM Hotline. Litton Ocwen OneWest SPS Wells Fargo Source: Survey data through May, 0, from servicers on call volume to loss mitigation lines; Homeowner s HOPE TM Hotline. Program to date, there have been,8,68 calls to the Homeowner s HOPE TM Hotline regarding a specific SPA servicer, of which 6.6% 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 June) 0% 9% 8% 7% 6% 5% % % Servicer Time to Resolve Third-Party Escalations (Program to Date, Through June) Am. Home Servicing Am. Home Servicing Program to Date Average: 6.6% 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 Complaints (PTD):, 6,7 6,0,0 5,9,589, ,905 Litton Ocwen OneWest SPS Wells Fargo Resolved: 9 6,55,5 89, ,08 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. Effective this month, total resolved cases exclude those which were resolved with no further action needed or taken by the servicer. 6

17 Making Home Affordable: Servicer Results by Investor Type (Large Servicers) Servicer GSE Private Portfolio Total Active American Home Mortgage Servicing Inc.,9,05 5,7 Bank of America, NA 95,60 58,08 9,57 6,75 CitiMortgage, Inc. 0,595,59 6,67 5,86 GMAC Mortgage, LLC,6 5,77,66,60 JP Morgan Chase NA 50,886 9,80 9, 09,99 Litton Loan Servicing LP 88,96 0,0 Ocwen Loan Servicing, LLC 7,86,8 6 0,70 OneWest Bank,0,50,7 9,979 Select Portfolio Servicing 59 6,79,559 9,869 Wells Fargo Bank, NA 9,869 5,9 9,766 0,86 Other HAMP Servicers,,888 5,069 8,070 Total 08,6 7,0 6,8 77,559 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. Note: Figures reflect active trials and active permanent modifications. 7

18 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). Effective October, 00, the ability to make new financial commitments under the Troubled Asset Relief Program (TARP) terminated, and consequently no new Servicer Participation Agreements may be executed. In addition, effective June 5, 00, no new housing programs may be created under TARP. 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 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 HomeStar Bank & Financial Services Horicon Bank Horizon Bank, NA 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 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. Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage, FSB. 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 Mortgage Center, LLC Nationstar Mortgage LLC Navy Federal Credit Union Oakland Municipal Credit Union Ocwen Loan Servicing, 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 Yadkin Valley Bank 8

19 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 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 Servicing, 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 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 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 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. Wells Fargo Bank, NA includes all loans previously reported under Wachovia Mortgage FSB. 9