WASHINGTON, March 5, 2013 /PRNewswire/ -- Today, Fannie Mae (OTC Bulletin Board: FNMA) announced Servicer Total Achievement and Rewards™ (STAR™) Program's Scorecard results for 2012. The program 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 Bank, NA
- 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, N.A., Colonial Savings, F.A., 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.
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