April 09, 2013Fannie Mae Announces STAR Program 2012 Annual Results
WASHINGTON, DC – Today, Fannie Mae (FNMA/OTC) announced Servicer Total Achievement and Rewards™ (STAR) Program results for 2012. Five servicers achieved four STAR designation for their overall performance, customer service and foreclosure prevention efforts. This is the first time that any servicer has reached the four STAR level. STAR was created to measure servicers across key operational and performance areas relative to their peers and to recognize high achievement through STAR designations.
“It is a sign of great progress to award four STAR designations for the first time,” said Leslie Peeler, Senior Vice President of Fannie Mae’s National Servicing Organization. “Servicers are continuing to improve their processes and achieve better results in foreclosure prevention and customer service. We look forward to working with all servicers to build on their strong momentum and make sure that homeowners are getting the help they need.”
The following servicers achieved a three or four STAR designation for the 2012 program year:
The STAR Program is based on Scorecard metrics related to customer service and foreclosure prevention results and Operational Assessments of the servicer’s processes, policies and capabilities. Servicers are divided into three peer groups based on the number of Fannie Mae loans that they service and are measured relative to their peers. A servicer can receive a designation of up to five stars:
The names of servicers who did not achieve at least a three star rating will not be published. Throughout 2013, Fannie Mae will provide additional updates on STAR servicer performance and offer insight into how servicers are evaluated in the program.
Recent STAR releases may be found at the following links:
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