Freddie Mac Rates Flagstar Bank One of the Top Mortgage Servicers in the US
Troy, MI
March 8, 2007
PR NewsWire
Flagstar Bank (NYSE:FBC) recently achieved Freddie Mac's prestigious 2006 Tier One Platinum performance ranking for excellence in investor reporting and default management.
According to Freddie Mac, one of the nation's largest investors in residential
mortgages, Flagstar was one of only 39 servicing companies
nationwide to meet this standard. Nationally, approximately 1,500 lenders
service Freddie Mac owned loans. "I want to personally thank Flagstar for consistently achieving remarkable results through hard work, persistence and a commitment to excellence," said Janet Eakes, senior vice president of single family sourcing operations for Freddie Mac. "Our Tier One rankings go only to those few mortgage servicers whose superior performance, efficiency, and customer service set the benchmark for the rest of our industry." Freddie Mac ranks its servicers each month on the basis of performance benchmarks that cover a wide range of activities, such as investor reporting, minimizing credit losses and helping delinquent borrowers avoid foreclosure.
Based on their management of active and delinquent loans, servicers are ranked in four tiers ranging from Tier One (superior results) to Tier Four (unacceptable results) on their monthly Servicer Performance Profile.
Servicers who achieve the Tier One Platinum level had Tier One ratings
in both the Investor Accounting and Reporting and the Default Management categories of their Servicer Performance Profile for two quarters in 2006. They receive a number of benefits, such as fee waivers, financial rewards and national recognition.
Flagstar Bancorp, with $15.5 billion in total assets, is the largest
publicly held savings bank headquartered in the Midwest.
At December 31, 2006, Flagstar operated 151 banking centers in Michigan, Indiana and Georgia and 76 home loan centers in 22 states. Flagstar Bank originates loans nationwide and is one of the leading originators of residential mortgage loans.
March 8, 2007
PR NewsWire
Flagstar Bank (NYSE:FBC) recently achieved Freddie Mac's prestigious 2006 Tier One Platinum performance ranking for excellence in investor reporting and default management.
According to Freddie Mac, one of the nation's largest investors in residential
mortgages, Flagstar was one of only 39 servicing companiesnationwide to meet this standard. Nationally, approximately 1,500 lenders
service Freddie Mac owned loans. "I want to personally thank Flagstar for consistently achieving remarkable results through hard work, persistence and a commitment to excellence," said Janet Eakes, senior vice president of single family sourcing operations for Freddie Mac. "Our Tier One rankings go only to those few mortgage servicers whose superior performance, efficiency, and customer service set the benchmark for the rest of our industry." Freddie Mac ranks its servicers each month on the basis of performance benchmarks that cover a wide range of activities, such as investor reporting, minimizing credit losses and helping delinquent borrowers avoid foreclosure.
Based on their management of active and delinquent loans, servicers are ranked in four tiers ranging from Tier One (superior results) to Tier Four (unacceptable results) on their monthly Servicer Performance Profile.
Servicers who achieve the Tier One Platinum level had Tier One ratings
in both the Investor Accounting and Reporting and the Default Management categories of their Servicer Performance Profile for two quarters in 2006. They receive a number of benefits, such as fee waivers, financial rewards and national recognition.
Flagstar Bancorp, with $15.5 billion in total assets, is the largest
publicly held savings bank headquartered in the Midwest.
At December 31, 2006, Flagstar operated 151 banking centers in Michigan, Indiana and Georgia and 76 home loan centers in 22 states. Flagstar Bank originates loans nationwide and is one of the leading originators of residential mortgage loans.
posted by Kirby P at 2:50 PM
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