Annual Performance Plan 508
Annual Performance Plan 508
Annual Performance Plan 508
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MEASURING OUR PROGRESS<br />
To help achieve this objective, HUD has established the following performance indicators.<br />
Asset disposition recovery rate<br />
This is the net recovery rate that FHA realizes via REO sales and REO Alternate Strategies as a<br />
percentage of unpaid principal balance. REO Alternate Strategies include Note Sales (DASP and Claims<br />
without Conveyance of Title [CWCOT]), Third Party Sales (TPS), and Pre-Foreclosure Sales (PFS). This<br />
broader metric better reflects the change in asset disposition recovery strategy and specifically success<br />
in the REO Alternate Strategies. In FY 2014 the change in asset disposition recovery strategy resulted in<br />
success such that volume increased in the three REO Alternate Strategies and subsequently REO volume<br />
has decreased. HUD will no longer target REO asset disposition discreetly but will begin to set targets for<br />
the entire asset disposition recovery strategy.<br />
FY12 Actual FY13 Actual FY14 Actual FY14 Target<br />
FY15<br />
Target<br />
FY16<br />
Target<br />
REO 38% 43% 40% 45% 45% 9 Tracking<br />
Only<br />
REO Alternate<br />
Strategies<br />
53% 48% 53% NA<br />
Tracking<br />
Only<br />
Tracking<br />
Only<br />
Overall 38% 43% 48% NA 46% 48%<br />
Percent of modifications resulting in re-defaults within six months of closing<br />
This indicator measures the percentage of borrowers that become 90 days or more delinquent on their<br />
loans within 6 months of receiving a loan modification/FHA Home Affordable Modification Program<br />
(HAMP) modification.<br />
FY12<br />
Actual<br />
FY13<br />
Actual<br />
FY14<br />
Actual<br />
FY14<br />
Target<br />
FY15<br />
Target<br />
FY16<br />
Target<br />
13.50% 8.38% 7.63% 6.40%
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