STAR Scorecard: Loan Servicer Performance Metrics Explained

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Posted To: MND NewsWire

Last week Fannie Mae announced the Servicer Total Achievement and Rewards Program or "STAR" which is intended to measure and evaluate the performance of servicer actions in helping homeowners avoid foreclosure. STAR's initial component, the Servicer Performance Scorecard, will provide regular snapshots and trends for key performance indicators to help servicers effectively assess their own progress. This week MND had the opportunity to obtain more details from Leslie Peeler who heads up the program. Peeler said that the scorecard measures how well servicers are fulfilling their obligation to help distressed borrowers but places no further reporting burden on the servicer s. Fannie Mae is currently in the process of using the scorecard and 2010 data to show servicers how well they met performance...(read more)

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Source: www.mortgagenewsdaily.com

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