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Annual Performance Plan 508

Annual Performance Plan 508

Strategic Goal Metric

Strategic Goal Metric Strengthen the Nation’s Housing Market to Bolster the Economy and Protect Consumers Percentage of modifications resulting in re-defaults within six months of closing • Description: This measure will track the percentage of borrowers that become 90 days or more delinquent on their loans within six months of receiving a loan modification/FHA HAMP product. • Data source: FHA Single Family Data Warehouse • Unit of measurement: Borrowers • Dimension: Percentage • Calculation method: For the current month, determine 1) how many loan mods were paid during the previous 6 months and 2) how many are presently 90+ days down. Divide 2) results by 1) results. • Frequency: Monthly • Direction: Decreased • Data quality (limitations/advantages of the data): The data originate in the Single Family Insurance System-Claims Subsystem, and for convenience are reported from FHA Single Family Housing Enterprise Data Warehouse. • Measurement Validation, verification, and improvement of measure: No data limitations are known to affect this indicator. The loan servicers enter the FHA data, and the FHA monitors the data entry. Sequence: 10 Metric Loss mitigation uptake • Description: This is the percentage of permanent loss mitigation actions taken as a percentage of serious delinquencies. • Data source: FHA Single Family Data Warehouse • Unit of measurement: Borrowers • Dimension: Percentage • Calculation method: For the current month, determine 1) how many loan mods were paid during the previous 6 months and 2) how many are presently 90+ days down. Divide 2) results by 1) results. • Frequency: Monthly • Direction: Increased • Data quality (limitations/advantages of the data): For the current month, determine 1) how many loan mods were paid during the previous 6 months and 2) how many are presently 90+ days down. Divide 2) results by 1) results. • Measurement Validation, verification, and improvement of measure: No data limitations are known to affect this indicator. The loan servicers enter the FHA data, and the FHA monitors the data entry. Sequence: 11 154 Section Three: Additional Information

Strategic Goal Metric Strengthen the Nation’s Housing Market to Bolster the Economy and Protect Consumers Number of FHA insured mortgages benefitting from housing counseling • Description: This is the number of FHA borrowers that receive pre- or post-purchase counseling. • Data source: FHA Single Family Data Warehouse • Unit of measurement: Number of specified mortgages • Dimension: Count • Calculation method: Number of FHA borrowers under specified conditions • Frequency: Quarterly • Direction: Increased • Data quality (limitations/advantages of the data): Loan servicers submit data through TOTAL Scorecard and FHA Connection. • Measurement Validation, verification, and improvement of measure: Loan servicers are required to submit counseling data for HECM loans and HAWK Back to Work loans, and the data is optional for other loan products. Updated guidance on submitting the data for loan products with no counseling requirement will be issued in FY 2015. Sequence: 12 Metric Capital Reserve Ratio • Description: The capital ratio compares the “economic net worth” of the MMI Fund to the dollar balance of active, insured loans, at a point in time. Economic net worth is defined as a net asset position, where the present value of expected future revenues and net claim expenses is added to current balance sheet positions. The capital ratio computation is part of an annual valuation of the outstanding portfolio of insured loans at the end of each fiscal year. • Data source: FHA Single Family Data Warehouse Meta Tables. • Unit of measurement: Comparative between net asset position to balance of loans • Dimension: Ratio • Calculation method: The Net Present Value of future cash flows plus capital resources divided by insurance-in-force • Frequency: annual; we will investigate ways of showing on a quarterly basis how the business is actually tracking against the most recent actuarial forecast. • Direction: Increased • Data quality (limitations/advantages of the data): The data originate in the Single Family Insurance System-Claims Subsystem, and for convenience are reported from FHA Single Family Housing Enterprise Data Warehouse. • Measurement Validation, verification, and improvement of measure: No data limitations are known to affect this indicator. The loan servicers enter the FHA data, and the FHA monitors the data entry. Sequence: 13 Section Three: Additional Information 155

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