Green Bay, WI – June 24, 2015 – The Federal National Mortgage Association, known as Fannie Mae, has awarded Associated Bank its Servicer Total Achievement and Rewards™ (STAR™) Performer recognition for 2014.
The STAR program was created in 2011 to measure servicers across key operational and performance areas relative to their peers and recognize high achievement. Goals included reducing credit losses, creating value for taxpayers and keeping borrowers in their homes.
Associated was specifically singled out for its performance in assisting homeowners, aiding the housing recovery and demonstrating excellence in general servicing processes.
“What sets STAR servicers apart is that they have sound, consistent practices, they partner well with Fannie Mae, and they continuously evaluate and adapt their controls to strive for operational excellence,” said Caroline Patane, Fannie Mae’s vice president, Servicer Reviews and Measurement.
“We have a great relationship with Fannie Mae,” said Scott Fecteau, Associated’s Director of Residential Lending. “We are proud to offer the Fannie Mae mortgage products that serve our customers’ needs, and equally proud to be recognized with this prestigious designation from a key partner.”
According to Fecteau, Associated is the largest mortgage lender in the State of Wisconsin in terms of volume origination. It services more than 63,000 Fannie Mae loans with total balances in excess of $7.5 billion.
Highly trained colleagues who understand the Fannie Mae processes are key to earning this recognition, explained John Crandall, Director of Default and Retail Loan Servicing at Associated.
“The STAR program provides a comprehensive playbook,” said Crandall. “With all of the regulatory changes in place in the industry, it helps us ensure that we surpass the performance of our peers, and that comprehensive training programs and key-performance indicators are in place.”