Appendix A - Supplemental STAR Metric Definitions - Credit Performance Metrics

Current to Worse

The number of loans in a current status at the beginning of the month that transitioned to a delinquent status at the end of the month divided by the beginning current loan count.

Loans that transition to 30 plus or loss

Loans current at beginning of month

Inference Test

30 to Worse

The number of loans in a 30-day delinquent status at the beginning of the month that transitioned to a 60 plus day delinquency status at the end of the month divided by the beginning 30-day delinquent loan count.

Loans that transitioned to 60 plus or loss

Loans 30-days delinquent at beginning of month

Inference Test

60 to Worse

The number of loans in a 60-day delinquent status at the beginning of the month that transitioned to a 90 plus day delinquency status at the end of the month divided by the beginning 60-day delinquent loan count.

Loans that transition to 90 plus or loss

Loans 60-days delinquent at beginning of month

Inference Test

90 plus to Worse

The number of loans in a 90 plus day delinquent status at the beginning of the month that transitioned to a more delinquent status at the end of the month divided by the beginning 90 plus day delinquent loan count.

Loans that transition to 120 plus or loss

Loans 90 plus days delinquent at beginning of month

Inference Test

Retention Solution Timing

The percentage of trials initiated by the servicer before the 210th day of delinquency. This metric uses a rolling three-month total in both the numerator and denominator.

Trial mods started less than 210-days delinquent

All trial mod starts

Inference Test

Liquidation Solution Timing

For short sales and Mortgage Release™, the percentage of cases completed by the servicer before the 210th day of delinquency. This metric uses a rolling three-month total in both the numerator and denominator.

Preferred liquidations less than 210-days delinquent

All preferred liquidations

Inference Test

Liquidation Efficiency

Measures the number of completed Mortgage Releases, short sales, foreclosure sales, and third-party sales over a three-month reporting period as a percentage of loans 60 or more days delinquent at the beginning of the three-month period.

Liquidation Events Loans 60+ days

Delinquent at beginning of three-month period

Inference Test

12-Month Mod Performance

The number of loan modifications completed 12-months prior that are now less than 30-days delinquent, paid in full, or repurchased, divided by the total number of loan modifications completed and not cancelled in the same time period. This metric uses a rolling three-month total in both the numerator and denominator.

Mods that are less than 30-days delinquent

Mods converted 12-months prior

Inference Test

Beyond Foreclosure Threshold Resolution

Measures loan dispositions and delinquency cures as a percentage of loans that began the month beyond the allowable foreclosure time frame.

Current Loans and Liquidations

Loans beyond time frame at beginning of month

Inference Test