Fannie Mae announced Servicer Total Achievement and Rewards (STAR) Program Performance Scorecard results for year-end 2011. The STAR Program was created to establish standards and recognize excellence among Fannie Mae servicers in their overall performance, customer service and foreclosure prevention efforts.
For 2011, the following servicers have produced results on the STAR Performance Scorecard at or above median levels relative to peers:
Peer Group One (which consists of 11 servicers):
- CitiMortgage Inc.
- EverBank
- GMAC Mortgage LLC (Ally Bank)
- JP Morgan Chase
- Wells Fargo Bank, NA
Peer Group Two (which consists of nine servicers):
- Aurora Bank FSB
- Central Mortgage Co.
- Fifth Third Bank
- HSBC Mortgage Corp.
- The Huntington National Bank
- Regions Bank
Peer Group Three (which consists of 13 servicers):
- American Home Mortgage Servicing Inc.
- Arvest Mortgage Co.
- Associated Bank NA
- Capital One N.A.
- Colonial Savings F.A.
- Doral Bank
- M&T Bank
- Nationwide Advantage Mortgage Co.
- Navy Federal Credit Union
- Third Federal Savings and Loan
- Branch Banking & Trust
- Sovereign Bank FSB
For the second half of 2011, PHH Mortgage Corp. demonstrated significant performance improvements and achieved at or above median levels compared to peers.
Currently, Fannie reviews 33 servicers as full participants of the STAR program. STAR will expand in 2012 to review and assess additional servicers based on updated participation criteria. As a result, peer groupings will change and opportunities for recognition under the program will continue.
Overall STAR performance rankings are issued on an annual basis each April and reflect a combination of the program’s two methods for evaluating participating servicers: operational assessments and annual performance scorecard results. Fannie Mae will publish overall 2011 STAR Program annual results incorporating both elements in April.
“Servicers in the STAR Program are changing their approach to managing Fannie Mae loans, assisting homeowners and measuring success,” said Tara Malone, vice president of servicer review and measurement, Fannie Mae. “We’re pleased to report significant improvements in performance for some of our servicers over the course of 2011. Servicers have increased their focus on areas of key importance for helping Fannie Mae manage losses and prevent foreclosures, which should drive improved STAR performance in 2012.”