Fannie Mae Announces 2024 STAR Program Results
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Fannie Mae (OTCQB: FNMA) has announced its 2024 Servicer Total Achievement and Rewards (STAR) Program results, recognizing 29 mortgage servicers for their exceptional performance across three key categories: General Servicing, Solution Delivery, and Timeline Management.
The STAR Program, which has been operating since 2011, evaluates servicers based on loan volume, portfolio composition, and industry-leading practices. Recipients are assessed through the Servicer Capability Framework and STAR Performance Scorecard, with a focus on operational excellence and credit loss reduction.
Notable recipients include major financial institutions such as JPMorgan Chase Bank, Wells Fargo & Company, Bank of America, and Mr. Cooper, with the latter achieving recognition across all three performance categories. According to Cyndi Danko, Senior Vice President and Single-Family Chief Credit Officer, these servicers play a important role in Fannie Mae's mission to provide stability to borrowers while maintaining strong servicing standards.
Positive
- Program demonstrates continued improvement in servicer performance and operational assessment
- Recognition indicates strong credit loss reduction practices
- Promotes industry-wide servicing standards improvement
Negative
- None.
Details
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Program Recognizes 29 High-Performing Mortgage Servicers Across Three Key Performance Areas
"We're proud of this year's top-performing STAR Program servicers who are critical partners in our mission to provide stability to borrowers based on strong servicing standards," said Cyndi Danko, Senior Vice President and Single-Family Chief Credit Officer, Fannie Mae. "Our servicers continue to show their commitment to operational excellence while reducing credit loss – a crucial component to the overall safety and soundness of Fannie Mae's business and the residential mortgage market."
Since 2011, Fannie Mae's STAR Program has enabled broad and lasting improvements across the mortgage servicing industry by promoting servicing knowledge and excellence. The program has seen sustained servicer improvement in both metric performance and operational assessment results year over year.
For the 2024 program year, mortgage servicers were evaluated for STAR Performer recognition in three categories: General Servicing, Solution Delivery, and Timeline Management based on the results of the Servicer Capability Framework and STAR Performance Scorecard.
The 2024 STAR Program recipients are:
General Servicing
- Associated Bank
- Cenlar Federal Savings Bank
- Colonial Savings
- Fifth Third Bank, N.A.
- Gateway First Bancorp, Inc
- Guild Mortgage Company
- PHH Mortgage Corporation
- JPMorgan Chase Bank
- M&T Bank
- Truist Bank
- The PNC Financial Services Group, Inc.
- Provident Funding Associates, L.P.
- University Bank
- Wells Fargo & Company
Solution Delivery
- Flagstar Bank, National Association
- Rocket Mortgage, LLC
Timeline Management
- LoanCare
General Servicing and Solution Delivery
- Arvest Bank
- Bank of America, N.A.
- BOK Financial Corporation
- Dovenmuehle Mortgage, Inc.
- Freedom Mortgage Corp.
- Planet Home Lending, LLC
- Regions Bank
- Servbank
- ServiceMac
- The Huntington National Bank
General Servicing and Timeline Management
- NewRez, LLC
General Servicing, Solution Delivery, and Timeline Management
- Mr. Cooper
About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. We enable the 30-year fixed-rate mortgage and drive responsible innovation to make homebuying and renting easier, fairer, and more accessible. To learn more, visit:
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https://www.fanniemae.com/news
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1-800-2FANNIE (800-232-6643)
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SOURCE Fannie Mae
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