Fannie Mae Announces STAR Program 2012 Annual Results

Four STAR Designation Awarded for First Time; Five Servicers Recognized for High Performance

Keosha Burns

202-752-7840

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: 

• Four STAR Designation: Fifth Third Bank, Associated Bank, N.A., Green Tree Servicing, LLC, Navy Federal Credit Union and Seterus, Inc. 
• Three STAR Designation: Capital One, N.A., Colonial Savings, F.A., EverBank, GMAC Mortgage, LLC (Ally Bank), M & T Bank Co., Nationstar Mortgage, LLC, PHH Mortgage Corporation, RBS Citizens, N.A., Regions Bank, Third Federal Savings and Loan, Trustmark National Bank and Wells Fargo Bank, NA. 

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: 

• Five STAR designation signifies the highest level of Scorecard achievement and consistent advances in achieving Fannie Mae’s objectives.
• Four STAR designation signifies top quartile results on the Scorecard for their peer group, demonstration of consistent processes with repeatable outcomes in all reviewed areas, and achieving Fannie Mae credit loss targets.
• Three STAR designation signifies above median results on the Scorecard and demonstration of consistent and standardized processes in most business operations. 

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:

Fannie Mae Announces STAR Program Scorecard Results for 2012

Fannie Mae Announces STAR Program Results for First Half of 2012

Fannie Mae Announces 2011 Year-End Servicer Performance Scorecard Results