Fannie Mae recently recognized Regions Mortgage Servicing as a Servicer Total Achievement and Rewards (STARTM) performance recipient for the first half of 2012. Regions also earned a three-star designation for the 2011 program year.
Fannie Mae created the STARTM program to establish standards and recognize excellence among servicers for overall performance, customer service and foreclosure prevention efforts. The STARTM program measures several key operational and performance areas relative to mortgage servicing peers and acknowledges their achievement through STARTM designation. Regions Bank is one of two (out of a peer group of 13 -15) to receive a STARTM designation for 2012 to date.
According to Leslie Peeler, senior vice president of the National Servicing Organization, Fannie Mae wants servicers to be responsive to homeowners who are struggling and work with them to prevent as many foreclosures as possible. The servicers recognized are implementing effective, standardized processes that help drive improved performance and operations success.
"We are excited to earn this recognition by Fannie Mae, as we feel that it reflects our true commitment and dedication of service to our customers, especially during a difficult economic period," says Morgan McCarty, Director of Mortgage Servicing.
Regions' three-star designation was achieved by receiving a score greater than the median score of 50 on the Performance Scorecard and by achieving an overall Green rating on the Operational Assessments. A three-star designation is the highest rating achieved by any servicer under the STARTM program for performance.