Nationstar Mortgage and Flagstar Bank are among two of the best mortgage servicers in the country, according to Fannie Mae, which recently bestowed both with awards for their servicing performance.
Nationstar and Flagstar both received honors from Fannie Mae in its 2015 Servicer Total Achievement and Rewards program, also called STAR.
The STAR program supports the industry by establishing a “transparent and formal” framework to recognize Fannie Mae servicing partners for their competency, capacity and overall performance, the government-sponsored enterprise said.
Nationstar received the Five STAR award for the second year in a row, the nonbank said.
According to Nationstar, the STAR program recognizes mortgage servicers for overall performance, customer service and foreclosure prevention efforts, and Nationstar said that it ranked No.1 among all large U.S. mortgage servicers evaluated for 2015 performance.
“We take great pride in this recognition, and it is yet another reflection of our complete dedication to making the customer experience great,” said Jay Bray, president and chief executive officer of Nationstar Mortgage.
“Our partnership with Fannie Mae enables us to make homeownership in America something that is achievable for hardworking families,” Bray continued. “This also demonstrates Nationstar’s commitment to Fannie Mae and the high standards, discipline and effort required to maintain a top-rating with the organization.”
According to Flagstar, the bank was recently named STAR performer for 2015 in recognition of Flagstar's “outstanding performance and best practices” in the general servicing category.
"This recognition by Fannie Mae, our biggest customer for loan sales, reflects the extraordinary efforts by Flagstar's servicing team to enhance our position as an elite mortgage servicer," said Lee Smith, chief operating officer of Flagstar Bank. "Our team strives for operational excellence and continuous improvement, and they continue to deliver on those objectives."
(Correction: This article is updated to accurately reflect the STAR awards received by both Nationstar and Flagstar)