Fannie Mae Recognizes 31 Mortgage Servicing Partners for Operational Excellence, Customer Value

Rhea-AI Summary

Fannie Mae (OTCQB: FNMA) announced the 2020 STAR™ Program results, recognizing 31 mortgage servicers for excellence in operations and customer service. This program evaluates performance in general servicing, solution delivery, and timeline management. Recognized servicers significantly contributed to maintaining housing stability during the COVID-19 pandemic, addressing challenges like job loss and illness. The STAR Program facilitates comparison among servicers to improve performance and enhance customer value.

Positive

• Recognition of 31 mortgage servicers underscores strong partnerships and operational excellence.
• The STAR Program helps identify improvement opportunities for servicers, promoting enhanced customer service.

Negative

• None.

WASHINGTON, March 4, 2021 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced the 2020 Servicer Total Achievement and Rewards™ (STAR™) Program results, which recognized 31 mortgage servicers for operational servicing excellence and customer value. Established in 2011, the STAR Program awards assess Fannie Mae servicers based on three operational and performance areas: general servicing, solution delivery, and timeline management.

"It's an honor to recognize 31 of our servicing partners as 2020 STAR Program award recipients for their respective commitments to customer service and industry best practices," said Malloy Evans, Senior Vice President and Single-Family Chief Credit Officer, Fannie Mae. "While mortgage servicers always play an essential role in preventing foreclosures and providing housing assistance, their work was absolutely critical last year as homeowners dealt with job losses, reductions in income, illness, and other disruptions caused by the COVID-19 pandemic. Servicer contributions will continue to be vital while we work to keep people in their homes and stabilize the U.S. housing market as the pandemic persists."

The STAR Program is a framework that measures servicer competency, capacity, and overall performance. It is designed to help our servicers quickly identify opportunities for improvement by comparing their performance relative to other servicers, and monitor progress and trends against key indicators selected to reflect Fannie Mae's current business objectives.

The 2020 STAR Program recipients are:

General Servicing

• Arvest Bank Group, Inc.
• Associated Banc-Corp
• Bank of America Corporation
• Broker Solutions, Inc
• Cenlar Capital Corporation
• Citizens Bank
• Colonial Savings, FA
• Computershare Limited
• Dovenmuehle Mortgage, Inc.
• Fidelity Bank
• Fifth Third Bancorp
• Flagstar Bancorp, Inc.
• Freedom Mortgage Corporation
• Guild Mortgage Company, LLC
• LoanCare, LLC
• M&T Bank Corporation
• PennyMac Corp.
• Provident Funding Associates, LP
• Rushmore Loan Management Services, LLC
• Stone Point Capital, LLC / Home Point Financial Corporation
• Trustmark Corporation
• Wright-Patt Credit Union

Timeline Management

• Bayview Financial Holdings, LP

General Servicing and Solution Delivery

• PNC Financial Services Group Inc.
• Quicken Loans, Inc.
• Regions Financial Corp.
• Teachers Insurance and Annuity Association of America
• Truist Bank

General Servicing and Timeline Management

• Wells Fargo and Company

Solution Delivery and Timeline Management

• Mr. Cooper

General Servicing, Solution Delivery and Timeline Management Recognition

• JPMorgan Chase & Co.

 

About Fannie Mae
Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of people in America. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit: fanniemae.com | Twitter | Facebook | LinkedIn | Instagram | YouTube | Blog

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https://www.fanniemae.com/news

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SOURCE Fannie Mae

FAQ

What is the 2020 STAR Program by Fannie Mae (FNMA)?

The STAR Program recognizes mortgage servicers for operational excellence and customer service, assessing them across key performance areas.

How many servicers did Fannie Mae recognize in 2020?

Fannie Mae recognized 31 mortgage servicers for their contributions to operational servicing and customer value in 2020.

What role did servicers play during the COVID-19 pandemic according to Fannie Mae?

Servicers were crucial in preventing foreclosures and providing housing assistance amid job losses and income reductions due to the pandemic.

What areas does the STAR Program evaluate for servicers?

The STAR Program evaluates servicers in general servicing, solution delivery, and timeline management.

How does Fannie Mae use the STAR Program results?

The results help servicers identify opportunities for improvement relative to their peers, enhancing their overall performance.