Mortgage nightmares

Attache is a report showing how unhelpful the banks have been in giving relief to homeowners who qualify for a mortgage modification under the government Foreclosure Prevention Program. Pretty abysmal, considering it was the banks that put the homeowners in this mess in the first place! I'd also like to point out that these numbers only show the homeowners who qualified for the program, not the total number of homeowners who have been harmed by the predatory lending practices of the banks. Through our program, the homeowner takes control of the situation and finds their own relief instead looking to the banks or government to provide help that will never come! And, the only way homeowners know about our true solution is through you. Let's get out there and make a difference!


Thanks,


Snapshot: Performance by Mortgage Servicers
On Aug. 4, the Treasury Department released data (PDF) showing how each of the mortgage servicers participating in the administration’s $75 billion
foreclosure prevention program has been performing. You can see that breakdown below.
To give an indication of each servicer's performance as a percentage of its loans eligible for modification, the Treasury listed the number of eligible loans that
are more than 60 days delinquent. While that number is useful to compare servicers, it underestimates the total number of loans that are eligible for the program.
The “incentive cap” listed is the amount of money allotted to each participating servicer based on its estimate of how many loans are eligible for the program,
but some of that money will also go to lenders and borrowers. See here for more info.
Note: Some servicers listed below do not show the number of modifications because they joined the program only in the past few weeks.
Companies: 39
XML CSV
Name State Entered
Program
Incentive
Cap
Loans 60+ Days Delinquent : Trial Mods
Underway

Bank of America, NA Calif. Apr 17, 2009 $6 billion
796,467 : 27,985 (4%)

JPMorgan Chase, NA N.J. Apr 13, 2009 $3.4 billion
394,075 : 79,304 (20%)

Wells Fargo Bank, NA Iowa Apr 13, 2009 $2.4 billion
329,085 : 20,219 (6%)

American Home Mortgage Servicing,
Inc Texas Jul 24, 2009 $1.3 billion
CitiMortgage Mo. Apr 13, 2009 $1.1 billion
185,418 : 27,571 (15%)

GMAC Mortgage Pa. Apr 13, 2009 $1 billion
61,326 : 12,540 (20%)

HomEq Servicing Calif. Aug 5, 2009 $674 million
Select Portfolio Servicing Utah Apr 13, 2009 $660.6 million
57,450 : 1,849 (3%)

Wachovia Mortgage, FSB Iowa Jul 1, 2009 $634 million
62,852 : 1,356 (2%)

Saxon Mortgage Services Texas Apr 13, 2009 $632 million
84,130 : 21,130 (25%)

Ocwen Financial Corpo
ration Fla. Apr 16, 2009 $553.4 million
55,516 : 2,517 (5%)

Aurora Loan Services Colo. May 1, 2009 $459.6 million
72,838 : 15,320 (21%)

Wilshire Credit Corporation Ore. Apr 20, 2009 $453.1 million
3,411 : 20 (1%)

Home Loan Services, Inc. Pa. Apr 20, 2009 $447.3 million
33,193 : 0 (0%)

National City Ba
nk Ohio Jun 26, 2009 $295 million
37,126 : 4 (0%)

Carrington Mortgage Services Calif. Apr 27, 2009 $131 million
14,128 : 597 (4%)

Nationstar Mortgage Texas May 28, 2009 $117.1 million
25,690 : 4,854 (19%)

Green Tree Servicing Minn. Apr 24, 2009 $91 million
5,228 : 209 (4%)

Wachovia Bank, N.A. N.C. Jul 29, 2009 $85 million
RG Mortgage Corporation Puerto
Rico Jun 17, 2009 $57 million
3,309 : 0 (0%)

PNC Bank, NA Pa. Jul 17, 2009 $54.5 million
Bayview Loan Servicing, LLC Fla. Jul 1, 2009 $44.3 million
4,425 : 148 (3%)

MorEquity, Inc. Ind. Jul 17, 2009 $23.5 million
Residential Credit Solutions Texas Jun 12, 2009 $19.4 million
1,304 : 265 (20%)

CCO Mortgage Va. Jun 17, 2009 $16.5 million
3,818 : 237 (6%)

First Bank Mo. Jul 29, 2009 $6.5 million
Mortgage Center, LLC Mich. Jul 24, 2009 $4.2 million
ShoreBank Ill. Jul 17, 2009 $1.4 million
Purdue Employees Federal Credit Union Ind. Jul 29, 2009 $1.1 million
IBM Southeast Employees' Federal
Credit Union Fla. Jul 10, 2009 $870 thousand
72 : 4 (6%)

Mission Federal Credit Union Calif. Jul 24, 2009 $860 thousand
First Federal Savings and Loan Wash. Jun 19, 2009 $770 thousand
16 : 1 (6%)

Wescom Central Credit Union Calif. Jun 19, 2009 $540 thousand
136 : 38 (28%)

Lake City Bank Ind. Aug 5, 2009 $420 thousand
Farmers State Bank Ohio Jul 17, 2009 $170 thousand
Oakland Municipal Credit Union Calif. Aug 5, 2009 $140 thousand
Lake National Bank Ohio Jul 10, 2009 $100 thousand
1 : 1 (100%)

Technology Credit Union Calif. Jun 26, 2009 $70 thousand
10 : 0 (0%)

Citizens First Wholesale Mortgage
Company Fla. Jun 26, 2009 $30 thousand
26 : 7 (27