""Fannie Mae"":http://www.fanniemae.com/portal/index.html unveiled 2012 program results for the Servicer Total Achievement and Rewards (STAR) scorecard.[IMAGE]
The STAR program was introduced to recognize Fannie Mae servicers and establish servicing standards. The scorecard component of the program measures a servicer's ability to manage credit performance by observing factors such as roll rates, solution delivery, workout effectiveness, and timeline management.
However, the final STAR Program designations, set to be released in April, will evaluate customer service and foreclosure prevention, as well as operational assessments of the servicer's processes, policies, and capabilities. Servicers can earn up to five stars, but only those with three or more stars are recognized. Three stars indicate above median results.[COLUMN_BREAK]
""STAR is one of the many ways that we are helping servicers improve their work with homeowners,"" said Leslie Peeler, SVP of Fannie Mae's national servicing organization. ""Fannie Mae is pleased that servicers continue to focus on keeping families in their homes and preventing foreclosures.""
""In the peer group representing our largest servicers we observed improvement in the delivery of home retention solutions from our top and bottom performing servicers. Servicers understand the importance of delivering solutions to homeowners and are focused on achieving better results,"" Peeler added.
The following servicers produced results on the STAR scorecard at or above median levels compared to their peers for 2012:
*Peer Group One*
EverBank; Ally Bank; Green Tree Servicing, LLC; Nationstar Mortgage, LLC; PHH Mortgage Corporation; Seterus, Inc.; Wells Fargo Bank, NA
*Peer Group Two*
Fifth Third Bank; RBS Citizens, NA; and Regions Bank
*Peer Group Three*
Associated Bank, NA; The Branch Banking and Trust Company; Capital One, N.A.; Colonial Savings, F.A.; M & T Bank; Navy Federal Credit Union; Third Federal Savings and Loan; and Trustmark National Bank