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Through June 13, 2014 OFAP Statistics. Case Volume.

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Presentation on theme: "Through June 13, 2014 OFAP Statistics. Case Volume."— Presentation transcript:

1 Through June 13, 2014 OFAP Statistics

2 Case Volume

3 1,000 Requests Per Month

4 Requests by Servicer

5 58% All Cases Are Closed *Includes cases later withdrawn by the servicer

6 Participation

7

8

9 Raw Participation Rate: Includes all cases in which a notice was sent and the fee deadline has passed Adjusted Participation Rate: Excludes cases with wrong numbers and deceased grantors if no successor is identified

10 Conferences

11 Scheduling Initial Sessions  Initial sessions rarely occur on the notice date  Document issues on both sides are the primary cause of delay  Parties must identify issues and request any reset two weeks prior

12 Adjourning Conferences  In 1,050 cases, the parties have met at least once  In 67% of those cases, the parties have met twice  In 21% of those cases, the parties have met more than twice

13 Outcomes

14 Current Agreement Rate *Pre-conference settlements tracked as no agreement cases through May Concluded Conferences

15 Agreements to Retain Home Retention (249) Permanent Modification (60) Trial Period Plan (143) Forbearance Agreement (21) Reinstate or Payoff (20) Repayment Plan (5)

16 Agreements to Surrender Non- Retention (65) Short Sale or DIL (32) Forbearance Agreement (17) Voluntary Surrender (13) Cash for Keys (3)

17 Satisfaction of Participants  97% of servicers gave the OFA Program a neutral or better rating  80% of homeowners were satisfied or very satisfied with the OFA Program  96% of homeowners would recommend the OFA Program to another

18 Satisfaction of Participants  93% of homeowners found the housing counselor helpful or very helpful  95% of homeowners were satisfied or very satisfied with the facilitator  91% of servicers were satisfied or very satisfied with the facilitator

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