The Federal National Mortgage Association has come out with its latest
ranking of mortgage servicers by peer group.
Servicers were ranked by Fannie Mae based on how they move seriously delinquent borrowers out of 90-day delinquency, foreclosure avoidance and liquidation efficiency.
The performance comparison against their peers is part of Fannie's Servicer Total Achievement and Rewards, or STAR, program.
Recognized among peer group one servicers were Green Tree Servicing LLC; Nationstar Mortgage, which reported a total servicing portfolio of $318 billion as of June 30; and Ocwen Financial Corp., which serviced $436 billion as of June 30.
Also on the peer group one list were PHH Mortgage Corp., where the total servicing portfolio stood at $229 billion as of mid-year; PNC Financial Services Group Inc., which reported a $167 billion servicing portfolio as of the end of June; IBM-subsidiary Seterus Inc.; and Wells Fargo Bank, N.A., where the organization-wide servicing portfolio was $1.851 trillion at the end of the second quarter.
The peer group two servicers were Fifth Third Bank, which serviced $89 billion as of June 30; and Regions Bank, where the total mortgage servicing portfolio finished the second quarter at $53 billion.
Peer group three consisted of Capital One., N.A.; Colonial Bank, F.A.; M&T Bank Co.; Navy Federal Credit Union; Sovereign Bank, a FSB; and Third Federal Savings and Loan.
Regions and Seterus were recognized by Fannie for the leading performance with resolving 90-day delinquency.
Seterus, OneWest Bank, FSB, and Colonial Savings were recognized for retention efficiency.
Green Tree, Fifth Third and Navy were recognized for their liquidation efficiency.
(c)2013 Mortgage Daily
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Distributed by MCT Information Services
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