Advertisement
Home About Us Contact Us Magazine Subscribe
Welcome to DSNews.com—delivering stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry. Mon May 21, 2012
Investors Lenders & Servicers Service Providers Attorneys & Title Companies Agents & Brokers

Fannie Mae Finds Several Servicers Below Median Performance

Several servicers remain below median performance level as of the first half of the year, as ranked by Fannie Mae’s Servicer Total Achievement and Rewards (STAR) Program.

Fannie Mae announced the STAR Program in February to measure servicers’ success in providing sustainable solutions to distressed homeowners.

The mid-year results released Wednesday by the GSE indicate that four out of the 11 banks in Peer Group 1 are

on track to receive at least a three-STAR rating at the end of the year.

Banks are ranked on a five-STAR scale, with three STARs signifying median performance level relative to peers and five STARs signifying superior performance.

Servicers are split into three peer groups based on the number of Fannie Mae loans they service.

Those in Peer Group 1 who are on track to receive at least three STARs are GMAC Mortgage, LLC, Citi Mortgage, Inc., Everhome Mortgage, and Wells Fargo Bank.

In Peer Group 2, six of 10 servicers are on track for a median rating at year-end, including, Fifth Third Bank, The Huntington National Bank, HSBC Mortgage Corporation, Aurora Financial Group Inc., Regions Bank and Central Mortgage Company.

The results for Peer Group 3 have not yet been released and are expected in the next 30 days.

“We are committed to helping stabilize the housing market by requiring servicers to prevent foreclosure whenever possible,” said Leslie Peeler, Vice President for Servicer Portfolio Management, Fannie Mae.


Friend's Name


Friend's Email*


Your Name


Your Email*


Security Code


Enter security code*

Message



Recent News


Advertisement

Sign up for daily e-mail updates.


Do you have a news tip, story idea, or suggestion for DSNews.com or DS News magazine?

Simply e-mail editor@dsnews.com.

Whether you choose to tell us a little about yourself or prefer anonymity, we appreciate your contribution!


Advertisement
About Us

Since its launch, DS News magazine has positioned itself at the forefront of an evolving industry. Always current with the most up-to-date default servicing news, DSNews.com keeps you informed through daily Web casts, community forums, and a wide range of industry resources.

Home About Us Contact Us Magazine Subscribe