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Mortgage Servicers’ Best Practices Recognized by Fannie Mae

Fannie MaeFannie Mae has announced its 2020 Servicer Total Achievement and Rewards (STAR) Program results, which recognizes 31 mortgage servicers for operational servicing excellence and customer value.

Established in 2011, the STAR Program awards Fannie Mae servicers based on three operational and performance areas: general servicing, solution delivery, and timeline management. The STAR Program measures servicer competency, capacity, and overall performance. It is designed to help Fannie Mae servicers 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.

“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 for 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.”

Servicers are selected to participate in the STAR Program primarily based on total Fannie Mae servicing loan volume and the portfolio composition.

The Federal Housing Finance Agency (FHFA) recently injected $1.09 billion for Fannie Mae's affordable housing allocations for 2020, marking the largest amount ever disbursed, more than double what was provided last year.

Recipients of the 2020 STAR Program include:

General Servicing

Timeline Management

General Servicing and Solution Delivery

General Servicing and Timeline Management

Solution Delivery and Timeline Management

General Servicing, Solution Delivery, and Timeline Management Recognition

About Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.

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