Fannie Mae Notes Servicers' STAR Performance

by devteam August 24th, 2012 | Share

Fannie Mae announced on Thursday that 22rnof its servicers had produced results in its Servicer Total Achievement andrnRewardsTM (STAR) Program for the first half of 2012 that put them at or abovernthe median levels for others in their peer group.</p

STAR was created in 2011 to establishrnservicing standards and recognize Fannie Mae servicers in their overallrnperformance, customer service, and foreclosure prevention efforts.  The program measures servicers across keyrnoperational and performance areas relative to their peers and acknowledgesrntheir achievement through star designations. rnServicers are divided into three peer group based on the size of theirrnservicing portfolio and their performance is measured against other servicersrnin their peer group.</p

Nineteen servicers achieved Three Starrnstatus for their performance in 2011.   Inrnannouncing the results Fannie Mae made special mention of Fifth Third Bank’srnperformance which came closest of the servicers enrolled in the program tornreaching the fourth star for its 2011 performance.</p

“Fannie Mae wants servicers to bernresponsive to homeowners who are struggling and work with them to prevent asrnmany foreclosures as possible. Through STAR, we’ve seen servicers makernmeasureable improvements over the course of the program’s first 18 months,”rnsaid Leslie Peeler, Senior Vice President of National Servicing Organization,rnFannie Mae. “The servicers we are recognizing today are implementing effective,rnstandardized processes that help drive improved performance and operationalrnsuccess.”</p

See the full report.

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About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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