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Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.

Fannie Recognizes Best Performing Servicers

First-half 2012 STAR mortgage servicers recognized

Aug. 24, 2012

By staff

The results are in, and the best-performing mortgage servicers have been recognized by the Federal National Mortgage Association. The secondary lender said that servicer performance has measurably improved since it implemented the program to identify superior servicers.

CitiMortgage Inc., GMAC Mortgage LLC, JPMorgan Chase and Wells Fargo Bank, N.A., were among peer group one servicers recognized by Fannie Mae as performing at or above median levels relative to their peers during the first six months of this year.

Notably missing was Bank of America Home Loans, which is feuding with Fannie over repurchase demands.

Also making the cut were EverBank, Green Tree Servicing LLC and Nationstar Mortgage LLC as well as PHH Mortgage Corp. and Seterus Inc.

Servicers were recognized as part of Fannie Mae's Servicer Total Achievement and Rewards program for the first-half 2012.

The STAR program establishes servicing standards and recognizes Fannie's servicers in their overall performance, customer service and foreclosure prevention efforts.

Servicers' key operational and performance areas are measured relative to their peers.

"Through STAR, we've seen servicers make measurable improvements over the course of the program's first 18 months," Leslie Peeler, senior vice president of national servicing organization at the Washington, D.C.-based company, said in the announcement. "The servicers we are recognizing today are implementing effective, standardized processes that help drive improved performance and operational success."

Just two servicers were recognized from peer group two: Fifth Third Bank and Regions Bank.

In the next tier, peer group three, Associated Bank, N.A.; The Branch Banking and Trust Co.; and Capital One, N.A.; were joined by Colonial Savings, F.A.; M & T Bank; and Nationwide Advantage Mortgage Co. in being recognized by Fannie. In addition, Navy Federal Credit Union, Sovereign Bank, Third Federal Savings and Loan as well as Trustmark National Bank were recognized.

Fannie Mae

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