ServiceMac Honored as a Top-Rated Mortgage Servicer

ServiceMac has been honored with the 2023 Servicer Total Achievement and Rewards (STAR) Performer Award recipient in the General Servicing category

Mortgage subservicer and member of the First American family of companies ServiceMac has been honored as a Fannie Mae 2023 Servicer Total Achievement and Rewards (STAR) Performer Award recipient in the General Servicing category. Fannie Mae’s STAR Program recognizes high-performing mortgage servicers for competency, capacity, and overall performance.

“We founded ServiceMac to eliminate all of the obstacles servicers face in maximizing their efficiency and managing portfolio risk, while providing superior customer service,” said Bob Caruso, President and CEO of ServiceMac. “This recognition from Fannie Mae validates our approach, which combines our proprietary subservicing technology platform with industry-leading customer support delivered by our expert staff members.”

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 continues to gain positive momentum and has seen sustained servicer improvement in both metric performance and operational assessment results year over year.

For the 2023 program year, mortgage servicers were evaluated for the STAR Performance Scorecard, designed to help servicers identify opportunities for improvement by comparing a servicer’s performance relative to other servicers based on set thresholds or relative to a comparable portfolio.

Overall, the Scorecard metrics monitor progress and trends against key indicators selected to reflect Fannie Mae’s current business objectives. Fannie Mae provides performance results to servicers on each metric via the STAR Performance Scorecard associated to the three Program categories:

  • General Servicing: Servicers are measured on the basis of their performance managing early term roll rates and investor reporting and accounting.
  • Solution Delivery: Servicers are measured on the basis of their ability to resolve delinquent loans and their effectiveness at managing their collections call center.
  • Timeline Management: Servicers are measured on the basis of their ability to resolve or liquidate loans that are beyond the allowable foreclosure time frames. The STAR Scorecard measures servicer performance in the Credit Performance and SCF metrics relevant to the activities they perform on behalf of Fannie Mae.

“Our servicing partners’ success is essential to achieving Fannie Mae’s goal of preserving homeownership and maintaining the safety and soundness of our business,” said Cyndi Danko, SVP and Single-Family Chief Credit Officer, Fannie Mae. “We’re proud to recognize our top-performing STAR Program servicers and their commitment to ensuring operational excellence, reducing credit loss, and continuously improving the overall homebuyer experience.”

Founded in 2017 and acquired by First American in October 2021, ServiceMac onboarded its first portfolio in 2019 and now services over $240 billion in loans for first and second mortgage portfolios. The company has rapidly grown on the foundation of its robust technology, industry-leading risk management and compliance tools, top-quality customer service and experienced team members. ServiceMac supports mortgage servicing rights holders, master servicers, borrowers, and subservicing needs with more effective and efficient servicing workflows.

Share this post :

Facebook
Twitter
LinkedIn
Pinterest
Eric C. Peck

Eric C. Peck

Eric C. Peck has 25-plus years’ experience covering the mortgage industry, most recently serving as Editor-in-Chief for National Mortgage Professional Magazine. He 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.
Latest News
Categories

Unleash the Power of Knowledge

Stay in the know with our suite of email blasts
Receive the latest news

Gain Access to Exclusive Mortgage Knowledge!

Stay at the forefront of industry developments! By subscribing to MortgagePoint, you’re aligning yourself with the latest insights, updates and exclusive promotions in the mortgage industry. As an industry professional, it’s critical to stay informed and up-to-date. Don’t miss out – subscribe now!