Fannie Mae's Servicer Total Achievement and Rewards Program (STAR) hit a new milestone in 2012.  For the first time since the award was initiated in 2010, servicers have achieved four STAR designations.  Five servicers reached that level in the most recent assessments. 

Fannie Mae created STAR to measure servicer performance across key operational and performance areas.  Servicers are divided into three peer groups based on the number of Fannie Mae loans they service and are measured relative to their peers based on Scorecard metrics related to customer service, foreclosure prevention efforts, and Operational Assessments and are measured relative to their peers.  A Five STAR designation signifies the highest level of Scorecard achievement and consistent advances in achieving Fannie Mae's objectives while a four STAR designation signifies top quartile results on the Scorecard for their peer group, demonstration of consistent processes with repeatable outcomes in all reviewed areas, and achieving Fannie Mae credit loss targets. 

"It is a sign of great progress to award four STAR designations for the first time," said Leslie Peeler, Senior Vice President of Fannie Mae's National Servicing Organization. "Servicers are continuing to improve their processes and achieve better results in foreclosure prevention and customer service.  We look forward to working with all servicers to build on their strong momentum and make sure that homeowners are getting the help they need."

The four STAR designations for 2012 were awarded to Fifth Third Bank, Associated Bank, N.A., Green Tree Servicing, LLC, Navy Federal Credit Union and Seterus, Inc. 

Three STAR designations were given to Capital One, N.A., Colonial Savings, F.A., EverBank, GMAC Mortgage, LLC (Ally Bank), M & T Bank Co., Nationstar Mortgage, LLC, PHH Mortgage Corporation, RBS Citizens, N.A., Regions Bank, Third Federal Savings and Loan, Trustmark National Bank and Wells Fargo Bank, NA.  The three STAR designation signifies above median results on the Scorecard and demonstration of consistent and standardized processes in most business operations.