Skip to main content

Fannie Mae Measures Servicer Performance in 2012

NationalMortgageProfessional.com
Mar 05, 2013

Fannie Mae has announced Servicer Total Achievement and Rewards (STAR) Program's Scorecard results for 2012, the program that measures servicers across key operational and performance areas relative to their peers, and acknowledges their achievement through STAR designations. Final STAR designations will be communicated in April and will be based on the program's two methods of servicer evaluation: Scorecard metrics related to customer service and foreclosure prevention and operational assessments of the servicer's processes, policies and capabilities. The operational assessments include evaluation of servicers' key processes and drivers that produce the Scorecard outcomes. "STAR is one of the many ways that we are helping servicers improve their work with homeowners," said Leslie Peeler, senior vice president of Fannie Mae's National Servicing Organization. "Fannie Mae is pleased that servicers continue to focus on keeping families in their homes and preventing foreclosures. In the peer group representing our largest servicers we observed improvement in the delivery of home retention solutions from our top and bottom performing servicers. Servicers understand the importance of delivering solutions to homeowners and are focused on achieving better results." The following servicers produced results on the STAR Scorecard at or above median levels relative to their peers for 2012: ►Peer Group One: EverBank, GMAC Mortgage LLC (Ally Bank), Green Tree Servicing LLC, Nationstar Mortgage LLC, PHH Mortgage Corporation, Seterus Inc., and Wells Fargo ►Peer Group Two: Fifth Third Bank, RBS Citizens NA, and Regions Bank ►Peer Group Three: Associated Bank NA, The Branch Banking and Trust Company, Capital One, Colonial Savings, M & T Bank, Navy Federal Credit Union, Third Federal Savings and Loan and Trustmark National Bank Servicers that achieved a three STAR or greater designation will be recognized for their commitment to customer service and foreclosure prevention efforts in April, when the 2012 STAR Operational Assessments are complete. Servicers who earn a three STAR designation achieved above median results on the Scorecard and demonstrated consistent and standardized processes in most business processes. Servicers who earn a four STAR designation achieved top quartile results on the Scorecard for their peer group, demonstrated consistent processes with repeatable outcomes in all reviewed areas, and achieved Fannie Mae credit loss targets.
Published
Mar 05, 2013
400 Mortgage Loan Originators Caught Trying To Skip School

400 mortgage loan originators nationwide deceptively claimed to have completed their annual continuing education as required by state and federal law.

Industry News
Jan 19, 2022
Infamous Better.com CEO Is Back And Employees Are Upset

After a month-long hiatus or “break” as Garg likes to call it, the CEO is back at the helm of the company.

Industry News
Jan 19, 2022
Capacity Closes $38M In Series C Funding, Surpasses $62M In Total Capital Raised

AI-powered automation platform, Capacity, announced an additional $27 million in Series C funding, closing out the round at more than $38 million.

Tech
Jan 19, 2022
Millennials Are Still Powering The Housing Market

First American Financial Corporation's Potential Home Sales Model for Dec. 2021 revealed that millennial demand is propelling the housing market, thanks to low rates and increased geographic flexibility.

Analysis and Data
Jan 19, 2022
Open Mortgage Adds A Chief Revenue Officer

Scott Harkless will spearhead all wholesale and retail sales functions for the national multi-channel mortgage lender.

Industry News
Jan 19, 2022
Home Builder Confidence Dips Due To Inflation And Supply Chain Concerns

Home builder confidence in the market for newly built, single-family homes fell by one point to 83 in January 2022, according to the National Association of Home Builders and Wells Fargo's Housing Market Index report.

Construction
Jan 18, 2022