Today, we got the grades for October -- in a report formally titled the "Making Home Affordable Program Servicer Performance Report through October 2009."
As I do every month, I've sliced-and-diced the data. This allows me to highlight the banks that have modified the highest percentage of loans that were eligible -- as well as call "shame" on the banks that had loans that they could have modified, but didn't move on any of those loans (or moved on less than five percent of them).
Let me specifically praise Bayview Loan Servicing of Coral Gables, which last month was a HAMP "hardly," having modified just two percent of its eligible loans. This month Bayview moved into the top ten, having modified twenty-two percent of its eligible loans. Good job, guys.
What follows here is this month's Top Ten (and Bottom Seven):
- Saxon Mortgage Services, Irving, Texas (44%)
- Citimortgage, O'Fallon, Missouri (40%)
- GMAC Mortgage, Fort Washington, Pennsylvania (35%)
- Aurora Loan Services, Littleton, Colorado (33%)
- JP Morgan Chase, New York, New York (32%)
- Nationstar Mortgage, Lewisville, Texas (32%)
- Select Portfolio Servicing, Salt Lake City, Utah (29%)
- Wells Fargo Bank, San Francisco, California (29%)
- Residential Credit Solutions, Fort Worth, Texas (23%)
- Bayview Loan Servicing, Coral Gables, Florida (22%)
- Bank United, Coral Gables, Florida
- HomeEq Servicing, Sacramento, California
- Franklin Credit Management Corporation, Jersey City, New Jersey
- MorEquity, Inc., Evansville, Illinois
- American Home Mortgage Servicing, Coppell, Texas
- RG Mortgage Corporation, San Juan, Puerto Rico
- Wachovia Mortgage, FSB, North Las Vegas, Nevada