HOPE NOW. Snapshot Industry Extrapolations and HAMP Metrics

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1 Snapshot Industry Extrapolations and HAMP Metrics Three Month Q4-214 Q1-215 Q2-215 Q3-215 Q4-215 Dec-15 Jan-16 Feb-16 Total Completed Modifications 18, , ,658 97,773 84,798 29,346 26,648 27,56 HAMP Permanent Modifications 1 31,751 29,11 35,738 28,748 23,68 8,29 7,616 8,162 Proprietary Modifications Completed 2 76,724 87,723 83,92 69,25 61,118 21,137 19,32 18,894 Reduced P&I Modifications (1% or greater) 46,92 55,632 51,577 4,743 34,217 11,734 9,59 9,872 % of Proprietary Modifications 61% 63% 61% 59% 56% 56% 5% 52% Completed Short Sale 29,12 22,932 23,67 2,822 18,675 6,489 5,751 5,279 Deed-In-Lieu 6,167 5,828 5,344 4,478 4,237 1,421 1,668 1,67 Foreclosure Starts 25,39 215, , , ,433 54,34 57,535 61,87 Foreclosure Sales 96,178 95,889 89,445 8,77 76,627 24,452 33,1 28,85 6+ Days Delinquency 1,932,568 1,922,814 1,811,343 1,654,348 1,624,769 1,617,354 1,841,339 1,635,838 1 Source - Making Home Affordable. Estimated. 2 Extrapolated. Modifications Completed was revised in December 29 to include Current Modifications and specifically exclude HAMP. *Survey data may be restated from time to time based on servicers' collection and reporting. HOPE NOW reports and extrapolates data. Any data changes will be reflected in monthly reporting. OR PUBLIC POSTING WITHOUT EXPRESS WRITTEN PERMISSION. 1

2 Industry Extrapolations and Metrics (February 216) Table of Contents Page Industry Market Coverage (All Count) 3 "Life to Date" Total Solutions 4 "Life to Date" Modifications 5 Proprietary Modifications 6 Work Out Plans (Non-HAMP) 7 6+ Delinquency (All Loans) 8 Foreclosure Starts and Sales 9 Graphs 1 April 16, 216

3 Industry Market Coverage Hope Now Alliance Survey (Feb 216) INDUSTRY MARKET COVERAGE Millions of Residential Mortgage Loans Loan Count MBA Delinquency Survey (Q4-215)* MBA Survey Extrapolated to Total Industry Hope Now Estimated Percent of Industry # of Hope Now Companies Reporting Total % 16 Prime % 14 Subprime % 14 *"MBA Delinquency Survey" data is for Q4-215, while "HOPE NOW Alliance Survey" data is for February 216. MBA estimates that its survey covers approximately 88% of the total industry. "Hope Now Estimated Percent of Industry" is derived by dividing "Hope Now Alliance Survey" February 216) by "MBA Survey Extrapolated to Total Industry" (Q4-215). "Hope Now Estimated Percent of Industry" estimates may increase or decrease slightly when the MBA releases its Delinquency Survey data for Q **Survey data may be restated from time to time based on servicers' collection and reporting. HOPE NOW reports and extrapolates data as provided by servicers to a third-party data aggregation vendor. Any data changes will be reflected in monthly reporting. OR PUBLIC POSTING WITHOUT EXPRESS WRITTEN PERMISSION. 3

4 Total Solutions Industry Extrapolations and HAMP Metrics (July 27 - February 216) "Life to Q3-Q Dec-15 Jan-16 Feb-16 Date" Total Total Solutions 912,671 2,258,63 4,252,78 4,579,587 3,64,54 3,56,234 2,649,63 1,881,515 1,448,828 98,697 12,517 96,522 24,878,725 HAMP Permanent "LIFE TO DATE" TOTAL SOLUTIONS Modifications 1 N/A N/A 66, , ,677 23, ,76 136, ,267 8,29 7,616 8,162 1,581,51 HAMP Trial Modifications 1 N/A N/A 955, 526, 293,595 21,54 176,64 127, ,265 8,95 7,789 8,171 2,411,632 Proprietary Modifications Completed 2 26,24 961,355 1,172,49 1,245,95 692,385 66, , ,134 31,786 21,137 19,32 18,894 6,222,436 Other Workout Plans Completed (Non-HAMP) 3 76,431 1,297,248 2,57,649 2,295,78 2,3,883 1,991,383 1,76,18 1,264, ,51 6,41 68,8 61,295 14,663,156 1 Source - Making Home Affordable. Estimated. Trial modifications that become permanent may be double counted ²HOPE NOW data is extrapolated based on the "MBA Delinquency Survey" for Q MBA estimates that its survey covers approximately 88% of the total industry. HOPE NOW data estimates for February 216 may increase or decrease slightly when the MBA releases its Delinquency Survey data for Q Extrapolated. Other Workout Plans Completed is comprised of Repayment Plans Initiated (tracked from Q3-27), Other Retention Plans Completed and Liquidation Plans (tracked from December 29). OR PUBLIC POSTING WITHOUT EXPRESS WRITTEN PERMISSION. 4

5 "Life to Date" Completed Modifications Industry Extrapolations and HAMP Metrics (July 27 - February 216) "LIFE TO DATE" COMPLETED MODIFICATIONS Q3-Q Dec-15 Jan-16 Feb-16 Total Completed Modifications 26,24 961,355 1,239,428 1,757,87 1,46,62 863, , ,32 419,53 29,346 26,648 27,56 7,83,937 HAMP Permanent Modifications 1 N/A N/A 66, , ,677 23, ,76 136, ,267 8,29 7,616 8,162 1,581,51 Proprietary Modifications Completed 2 26,24 961,355 1,172,49 1,245,95 692,385 66, , ,134 31,786 21,137 19,32 18,894 6,222,436 "Life to Date" Total 1 Source - Making Home Affordable. Estimated. 2 Extrapolated. Modifications Completed was revised in December 29 to include Current Modifications and specifically exclude HAMP. OR PUBLIC POSTING WITHOUT EXPRESS WRITTEN PERMISSION. 5

6 Proprietary Modifications (Non-HAMP) Industry Extrapolations (February February 216) PROPRIETARY MODIFICATIONS (Non-HAMP) 1 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Total Jun-1 to Feb-16 Proprietary Modifications 2 27,699 35,136 31,69 26,19 26,833 24,7 22,987 22,31 21,677 18,34 21,137 19,32 18,894 3,366,99 Proprietary Reduced P&I Modifications 3 (1% or greater) 16,75 23,714 19,415 15,796 16,367 14,345 13,553 12,845 12,418 1,482 11,734 9,59 9,872 2,233,831 % of Proprietary Modifications 6% 67% 62% 61% 61% 6% 59% 58% 57% 57% 56% 5% 52% 66% ¹HOPE NOW data is extrapolated based on the "MBA Delinquency Survey" for Q MBA estimates that its survey covers approximately 88% of the total industry. HOPE NOW data estimates for February 216 may increase or decrease slightly when the MBA releases its Delinquency Survey data for Q Definition of Modification Field was adjusted in December 29 to reflect Proprietary Modifications (specifically excluding HAMP) and include Current Modifications. 3 Total for this field begins in June 21. OR PUBLIC POSTING WITHOUT EXPRESS WRITTEN PERMISSION. 6

7 Total Solutions Industry Extrapolations WORKOUT PLANS (Non-HAMP) Q3-Q Dec-15 Jan-16 Feb-16 Total Jul-7 to Feb-16 Total Workout Plans (Non-HAMP) 912,671 2,258,63 3,27,275 3,432,66 2,592,359 2,25,727 1,983,898 1,458,366 1,19,372 73,628 79,693 73,34 19,313,874 Prime 38, ,247 1,92,889 2,192,799 1,688,366 1,292,267 1,257,613 1,4, ,1 58,833 63,66 56,387 11,654,573 Subprime 531,813 1,317,356 1,34,386 1,239,87 93, ,46 726, , ,362 14,796 16,88 16,917 7,659,31 Repayment Plans Initiated 1 76,431 1,297,248 1,964,944 1,34,56 1,117, , , , ,143 33,3 43,111 34,612 9,213,815 Prime 314,51 674,27 1,374,529 1,6, ,586 56, , ,279 44,76 29,57 36,228 28,22 6,278,223 Subprime 391, ,978 59, ,18 26, ,52 234, ,57 11,68 3,496 6,883 6,392 2,935,591 Proprietary Modifications Completed 2 26,24 961,355 1,172,49 1,245,95 692,385 66, , ,134 31,786 21,137 19,32 18,894 6,222,436 Prime 66, , ,58 71,16 431,284 42, , ,75 227,973 16,92 14,374 13,941 3,327,477 Subprime 139, , ,91 543, ,12 239, ,17 19,43 73,812 5,45 4,658 4,953 2,894,96 Other Retention Plans Completed 3 69,84 846, ,812 86,87 659,527 47, ,443 19,488 17,55 19,798 3,877,623 Prime 34, ,187 4, , , , ,961 13,234 13,4 14,225 2,48,874 Subprime 35,61 361, , , ,36 153,348 96,482 6,254 4,547 5,572 1,828,75 1 Definition of this field was revised in December 29. HOPE NOW also began collecting Occupancy data at this time. 2 Proprietary Modifications Completed was revised in December 29 to include Current Modifications and specifically exclude HAMP. 3 Other Retention Plans Completed is a new field added in December 29. It is defined as the number of loans where the customer completed the terms of other retention plan such as: FHA Partial Claim, FHA Secured, VA Refund, Stipulated Repayment / Stip-to-Mod, Forbearance Plans, MI Claim Advance, Reaged / Deferred / Extended, FNMA Home Saver Forbearance, Payment Reduction Plan, or other GSE-sponsored forbearance program. OR PUBLIC POSTING WITHOUT EXPRESS WRITTEN PERMISSION. 7

8 6+ Delinquency Industry Extrapolations 6+ DELINQUENCY (All Loans) In thousands except for ratios Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Average Dec-9 to Feb-16 Number of Estimated Industry Loans 1 46,432 46,432 45,684 45,684 45,684 44,72 44,72 44,72 44,154 44,154 44,154 44,154 44,154 47,725 Prime 42,34 42,34 41,676 41,676 41,676 41,444 41,444 41,444 4,99 4,99 4,99 4,99 4,99 43,297 Subprime 4,93 4,93 4,7 4,7 4,7 3,276 3,276 3,276 3,164 3,164 3,164 3,164 3,164 4, Days Delinquency 1,914 1,881 1,828 1,816 1,79 1,652 1,655 1,657 1,632 1,625 1,617 1,841 1,636 2,446 Prime 1,263 1,264 1,246 1,254 1,239 1,24 1,29 1,211 1,28 1,24 1,26 1,43 1,214 1,662 Subprime Days+ Delinquency (Percentage of Total Loans) 4% 4% 4% 4% 4% 4% 4% 4% 4% 4% 4% 4% 4% 5% Prime 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 4% Subprime 16% 15% 15% 14% 14% 14% 14% 14% 13% 13% 13% 14% 13% 18% ¹HOPE NOW data is extrapolated based on the "MBA Delinquency Survey" for Q MBA estimates that its survey covers approximately 88% of the total industry. HOPE NOW data estimates for February 216 may increase or decrease slightly when the MBA releases its Delinquency Survey data for Q OR PUBLIC POSTING WITHOUT EXPRESS WRITTEN PERMISSION. 8

9 Foreclosure Starts and Sales Industry Extrapolations (July 27 - February 216) FORECLOSURE STARTS (All Loans) Q3-Q Dec-15 Jan-16 Feb-16 Total 1,6,52 2,215,413 2,836,739 2,621,264 2,259,18 1,922,523 1,277, ,676 74,545 54,34 57,535 61,87 Prime 429,815 1,156,48 1,972,242 1,983,291 1,696,421 1,479, , ,27 56,359 46,55 46,633 53,556 Subprime 63,237 1,58, , , , ,95 311,17 23, ,185 7,79 1,92 8,251 FORECLOSURE SALES (All Loans) Q3-Q Dec-15 Jan-16 Feb-16 Total 321, , ,527 1,83,573 84, ,58 624, , ,38 24,452 33,1 28,85 Prime 125, ,774 62, , ,987 61, ,863 34,77 259,528 19,282 26,781 23,79 Subprime 195,964 49,85 326,18 271,629 21, , , ,947 82,511 5,17 6,32 5,5 ¹HOPE NOW data is extrapolated based on the "MBA Delinquency Survey" for Q MBA estimates that its survey covers approximately 88% of the total industry. HOPE NOW data estimates for February 216 may increase or decrease slightly when the MBA releases its Delinquency Survey data for Q OR PUBLIC POSTING WITHOUT EXPRESS WRITTEN PERMISSION. 9

10 Industry Extrapolations and HAMP Metrics February Solutions Offered vs. Foreclosure Sales* Total Solutions Foreclosure Sales Source: Making Home Affordable and HOPE NOW *Total Solutions is comprised of HAMP Permanent and Trial Loans, Proprietary Modifications Completed, Repayment Plans Initiated, Other Retention Plans Completed, Short Sales and Deedin-Lieu Proprietary Modifications Completed* Total Prime Subprime *Non-HAMP THESE DATA ARE FOR ANALYSIS PURPOSES ONLY. NOT FOR REDISTRIBUTION, PUBLISHING, DATABASING, OR PUBLIC POSTING WITHOUT EXPRESS WRITTEN PERMISSION. 1

11 Industry Extrapolations and HAMP Metrics February Total Modifications Completed Total Permanent Modification Completed (Proprietary) Completed HAMP HAMP Trial Modification Source: Making Home Affordable and HOPE NOW Total Permanent Modifications is the sum of Completed HAMP and Completed (Proprietary). HOPE NOW has collected data on Completed (Proprietary) Modifications since 27. Data for HAMP Trial Modifications began in May 29 while data for Completed HAMP loans began in September % 6+ Delinquencies as Percentage of Total Loans 2% 15% 1% 5% % Total Prime Subprime THESE DATA ARE FOR ANALYSIS PURPOSES ONLY. NOT FOR REDISTRIBUTION, PUBLISHING, DATABASING, OR PUBLIC POSTING WITHOUT EXPRESS WRITTEN PERMISSION. 11

12 Industry Extrapolations and HAMP Metrics February Foreclosure Starts Total Prime Subprime Foreclosure Sales Total Prime Subprime THESE DATA ARE FOR ANALYSIS PURPOSES ONLY. NOT FOR REDISTRIBUTION, PUBLISHING, DATABASING, OR PUBLIC POSTING WITHOUT EXPRESS WRITTEN PERMISSION. 12

13 Industry Extrapolations and HAMP Metrics February 216 7% 6% 5% 4% 3% 2% 1% % Completed Foreclosure Sales as a % of Foreclosure Starts Source: Freddie Mac State Foreclosure Timelines and HOPE NOW *There is a time lag between a foreclosure start and its completion. During this time many foreclosure starts drop out for a variety of reasons. The time lag varies for individual states, ranging between 2 and 12 months. The percentages in this graph adjust for this lag. The weighted average time between foreclosure start to completion is approximately 6 months. This is calculated by multiplying the number of loans for each state by the average time from foreclosure initiation to completed foreclosure sale, summing the results for all states, and then dividing the aggregate by the total number of loans for all states. HAMP Modifications 8% Breakdown of Total Solutions HAMP Trial 8% Proprietary Modifications 2% Deed in Lieu 2% Short Sales 5% Other Retention Plans Completed 21% Repayment Plans Initiated 36% THESE DATA ARE FOR ANALYSIS PURPOSES ONLY. NOT FOR REDISTRIBUTION, PUBLISHING, DATABASING, OR PUBLIC POSTING WITHOUT EXPRESS WRITTEN PERMISSION. 13

14 Industry Extrapolations and HAMP Metrics February Modifications Completed Completed (Proprietary) Completed HAMP 1, 9, 8, 7, 6, 5, 4, 3, 2, 1, Cumulative Total Modifications and Short Sales Completed Completed (Proprietary) Completed HAMP Completed Short Sale Source: Making Home Affordable and HOPE NOW HOPE NOW has collected data on Completed (Proprietary) Modifications since 27. Data for Completed HAMP loans began in September 29. HOPE NOW began collecting short sale data in December of 29. THESE DATA ARE FOR ANALYSIS PURPOSES ONLY. NOT FOR REDISTRIBUTION, PUBLISHING, DATABASING, OR PUBLIC POSTING WITHOUT EXPRESS WRITTEN PERMISSION. 14

15 Industry Extrapolations and HAMP Metrics February Ratio of Permanent Modifications to Foreclosures Permanent Mods to FC Starts Permanent Mods to FC Sales Permanent Modifications vs. Foreclosure Sales Total Permanent Modification Foreclosure Sales Source: Making Home Affordable and HOPE NOW Permanent Modifications is the sum of Completed HAMP and Completed (Proprietary). HOPE NOW has collected data on Completed (Proprietary) Modifications since 27. Data for Completed HAMP loans began in September 29. THESE DATA ARE FOR ANALYSIS PURPOSES ONLY. NOT FOR REDISTRIBUTION, PUBLISHING, DATABASING, OR PUBLIC POSTING WITHOUT EXPRESS WRITTEN PERMISSION. 15