Treasury Report Reveals Performance of Largest Servicers
OneWest followed GMAC closely at second, with a 95 percent RPC ratio. Bank of America established a 93 percent RPC ratio, followed by Homeward Residential (92 percent), which will be acquired by Ocwen Financial. Wells Fargo also had a notably high RPC ratio of 90 percent.
The report also revealed servicers’ performance when converting eligible trials into permanent modifications on or after June 1, 2010. Homeward Residential and OneWest had the highest conversion rates, with both seeing 90 percent of trials turn into permanent modifications. The report stated the average trial length is 3.5 months.
Copy of the full report below…