PHH Mortgage Recognized by Fannie Mae as a 2023 Star Performer

Rhea-AI Summary

PHH Mortgage, a subsidiary of Ocwen Financial Corporation (NYSE: OCN), has been awarded Fannie Mae’s 2023 Servicer Total Achievement and Rewards (STAR) Performer recognition for the third consecutive year. The company excelled in General Servicing and Solution Delivery categories, showcasing its dedication to excellence in mortgage servicing.

Awarded for the third consecutive year

WEST PALM BEACH, Fla., March 11, 2024 (GLOBE NEWSWIRE) -- PHH Mortgage (“PHH” or the “Company”), a subsidiary of Ocwen Financial Corporation (NYSE: OCN) and a leading non-bank mortgage servicer and originator, today announced the Company achieved Fannie Mae’s 2023 Servicer Total Achievement and Rewards™ (STAR™) Performer recognition. PHH has earned STAR Performer recognition for three consecutive years.

STAR Performer recognition is reserved for top performing servicers within one or more of three STAR Performer categories: General Servicing, Solution Delivery, and Timeline Management. In 2023, PHH has received recognition in the General Servicing and Solution Delivery categories.

“We’re honored to be recognized by Fannie Mae’s STAR program for excellence in mortgage servicing,” said Scott Anderson, Executive Vice President and Chief Servicing Officer of PHH Mortgage. “This award is a testament to the dedication of our team and reflects the strength and quality of our operations, our unmatched breadth of capabilities and our track record of execution. We are proud of the work we do supporting our customers, clients, investors and the housing industry, and we look forward to continuing to deliver value to all those we serve.”

For 2023, STAR Program participants are measured on the basis of their performance managing General Servicing (Transition to 60+ and Investor Reporting Score), Solution Delivery (60+ to Cure, Retention Efficiency, Liquidation Efficiency, and Six-Month Modification Performance), and Timeline Management (Transition to Beyond Time Frame). Each servicer’s performance in these metrics is compared against the performance of other Fannie Mae loans with similar credit characteristics.

About Ocwen Financial Corporation

Ocwen Financial Corporation (NYSE: OCN) is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs. Liberty is one of the nation’s largest reverse mortgage lenders dedicated to education and providing loans that help customers meet their personal and financial needs. We are headquartered in West Palm Beach, Florida, with offices and operations in the United States, the U.S. Virgin Islands, India and the Philippines, and have been serving our customers since 1988. For additional information, please visit our website (www.ocwen.com).

For Further Information Contact:

Dico Akseraylian, SVP, Corporate Communications
(856) 917-0066
mediarelations@ocwen.com

FAQ

What award did PHH Mortgage receive?

PHH Mortgage received Fannie Mae’s 2023 Servicer Total Achievement and Rewards (STAR) Performer recognition.

How many years has PHH Mortgage received this recognition?

PHH Mortgage has received this recognition for three consecutive years.

In which categories did PHH Mortgage excel?

PHH Mortgage excelled in the General Servicing and Solution Delivery categories.

Who is the Executive Vice President and Chief Servicing Officer of PHH Mortgage?

Scott Anderson is the Executive Vice President and Chief Servicing Officer of PHH Mortgage.

What metrics are used to measure STAR Program participants?

STAR Program participants are measured based on General Servicing, Solution Delivery, and Timeline Management metrics.