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Published byAllen Greer Modified over 10 years ago
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Through June 13, 2014 OFAP Statistics
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Case Volume
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1,000 Requests Per Month
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Requests by Servicer
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58% All Cases Are Closed *Includes cases later withdrawn by the servicer
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Participation
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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
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Conferences
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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
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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
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Outcomes
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Current Agreement Rate *Pre-conference settlements tracked as no agreement cases through May 2014 658 Concluded Conferences
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Agreements to Retain Home Retention (249) Permanent Modification (60) Trial Period Plan (143) Forbearance Agreement (21) Reinstate or Payoff (20) Repayment Plan (5)
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Agreements to Surrender Non- Retention (65) Short Sale or DIL (32) Forbearance Agreement (17) Voluntary Surrender (13) Cash for Keys (3)
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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
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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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