New Alternative to Foreclosure Pull-Through Reports
August 31, 2012
You now have access to reports that track your ability to successfully transition newly 60-day delinquent borrowers into alternatives to foreclosure over a three-month period. As part of the Servicing Alignment Initiative, Servicers must achieve at least a 60 percent alternative to foreclosure pull-through rate.
These new reports are available via the Servicer Performance Profile web site.
- Click on “Foreclosure Alternatives- Servicer Family Level” to see your summary report.
- Your summary report contains historical performance trends by month and by type of foreclosure alternative for 30-, 60-, and 90-day periods.
- Within the summary report, you can access downloadable loan-level detail reports of the initial mortgages that comprise the population of newly 60-day delinquent mortgages by month. Initially you will see data beginning in January 2012 and historical performance (90 days) for January, February and March collections. April, May, and June collection data will become available, respectively, with the release of July, August, and September servicing cycle performance data on the Servicer Success Scorecard.
Reinstatements, forbearance plans, repayment plans, payoffs, modifications, short payoffs and deeds-in-lieu of foreclosure are included in this performance standard. Trial period plans for Standard Modifications are included with data for Standard Modification mortgages, and trial period plans for Home Affordable Modification program (HAMP) Modifications are included with data for HAMP Modification mortgages. Loans in bankruptcy are excluded from this measurement.