03/04/2021 | Press release | Distributed by Public on 03/04/2021 09:56
WASHINGTON, DC - Fannie Mae (FNMA/OTCQB) 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 and Solution Delivery
General Servicing and Timeline Management
Solution Delivery and Timeline Management
General Servicing, Solution Delivery and Timeline Management Recognition