Fannie Mae has announced a new program to measure and evaluate the performance of its servicers' actions toward helping homeowners avoid foreclosure. The Servicer Total Achievement and Rewards Program or "STAR" is designed to directly link servicer performance in assisting homeowners to the customer's experience with that assistance.
In a speech to the Mortgage Bankers Association earlier this week, Edward J. Demarco, acting director of the Federal Housing Finance Administration (FHFA) signaled that such a program would be forthcoming. He told the audience attending a national servicers' conference that FHFA had established working groups with Fannie Mae and Freddie Mac, for which it is conservator, to align servicing standards and establish rewards for servicers for early engagement with borrowers. STAR seems to be the first product from those working groups.
...(read more)
Source: http://www.mortgagenewsdaily.com/02242011_servicing_standards.asp
Housing Starts President Obama Hope for home owners Fannie Mae
No comments:
Post a Comment