Five Servicers Attain Four STAR Level in Fannie Mae Program

by devteam April 10th, 2013 | Share

Fannie Mae’s Servicer Total Achievementrnand Rewards Program (STAR) hit a new milestone in 2012.  For the first time since the award was initiatedrnin 2010, servicers have achieved four STAR designations.  Five servicers reached that level in the mostrnrecent assessments.  </p

Fannie Mae created STAR to measurernservicer performance across key operational and performance areas.  Servicers are divided into three peer groupsrnbased on the number of Fannie Mae loans they service and are measured relativernto their peers based on Scorecard metrics related to customer service, foreclosurernprevention efforts, and Operational Assessments and are measured relative torntheir peers.  A Five STAR designation signifies the highest level of Scorecard achievement and consistent advances inrnachieving Fannie Mae’s objectivesrnwhile a four STAR designation signifies top quartile results on the Scorecardrnfor their peer group, demonstration of consistent processes with repeatablernoutcomes in all reviewed areas, and achieving Fannie Mae credit lossrntargets.  </p

“Itrnis a sign of great progress to award four STAR designations for the firstrntime,” said Leslie Peeler, Senior Vice President of Fannie Mae’s NationalrnServicing Organization. “Servicers are continuing to improve their processesrnand achieve better results in foreclosure prevention and customerrnservice.  We look forward to working with all servicers to build on theirrnstrong momentum and make sure that homeowners are getting the help they need.”</p

The four STAR designations for 2012 were awarded to FifthrnThird Bank, Associated Bank, N.A., GreenrnTree Servicing, LLC, Navy Federal CreditrnUnion and Seterus, Inc.  </p

Three STAR designations were given to Capital One, N.A., Colonial Savings, F.A., EverBank, GMAC Mortgage, LLC (Ally Bank), M & T Bank Co., Nationstar Mortgage,rnLLC, PHH Mortgage Corporation, RBSrnCitizens, N.A., Regions Bank, Third Federal Savings and Loan, Trustmark NationalrnBank and Wells Fargo Bank, NA.  The threernSTAR designation signifiesrnabove median results on the Scorecard and demonstration of consistent andrnstandardized processes in most business operations.  

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About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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