Celebrating Excellence: PHH Mortgage's Fannie Mae Award Win
PHH Mortgage Achieves Fannie Mae STAR Performer Recognition
In a remarkable achievement for customer service and operational excellence, PHH Mortgage has been awarded the prestigious Fannie Mae 2024 Servicer Total Achievement and Rewards™ STAR™ Performer recognition. This impressive accolade underscores the company's unwavering commitment to providing exceptional mortgage servicing capabilities. This recognition marks the fourth consecutive year that PHH has earned this esteemed title, solidifying its position as a leader in the non-bank financial services sector.
A Testament to Hard Work and Dedication
Scott Anderson, Executive Vice President and Chief Servicing Officer at PHH Mortgage, expressed immense pride in the recognition. "We are honored to be recognized again by Fannie Mae for excellence in mortgage servicing, and we want to thank our team for their hard work and dedication toward maintaining superior operational performance and creating positive outcomes for our customers," he stated. This statement emphasizes the integral role of teamwork in achieving the high standards expected in the mortgage servicing industry.
What Makes PHH a STAR Performer?
The STAR Performer recognition is not awarded lightly; it is reserved for the industry's top-performing servicers. The 2024 assessment involved a series of stringent performance metrics that served as benchmarks for success. Areas evaluated include General Servicing management, Solution Delivery efficiency, and Timeline Management capabilities. Servicers stood out through metrics like the Transition to 60+ days, Retention Efficiency, and Liquidation Efficiency. These metrics are pivotal as they reflect the effectiveness with which a servicer can manage their mortgage portfolio, ensuring timely responses to borrower needs.
Outstanding Servicing Capabilities
As of the end of 2024, PHH serviced or subserviced around 1.4 million loans, holding an impressive total unpaid principal balance of over $300 billion on behalf of approximately 4,000 investors and 125 subservicing clients. This extensive servicing capability encompasses a wide variety of mortgage types, including forward, reverse, business purpose residential, and small-balance commercial mortgages. This broad expertise positions PHH Mortgage as a reliable partner within the financial services industry.
About Onity Group Inc.
As a parent company of PHH Mortgage, Onity Group Inc. (NYSE: ONIT) is recognized as a key player in the financial services market. Offering comprehensive mortgage servicing and origination solutions, Onity has built its reputation by focusing on customer needs and delivering tailored solutions. It operates through its primary brands, PHH Mortgage and Liberty Reverse Mortgage, both of which are designed to assist consumers and business clients alike.
Meeting the Needs of Customers
Liberty Reverse Mortgage stands out as one of the nation’s leading reverse mortgage lenders. The dedication to helping customers meet their personal and financial goals is evident in their comprehensive loan offerings. With a substantial history dating back to 1988, Onity is proud to serve diverse markets, including in the United States, the U.S. Virgin Islands, India, and the Philippines.
Contact Information for Further Queries
For those seeking additional information, Dico Akseraylian, SVP of Corporate Communications, can provide insights and details. He is reachable at (856) 917-0066 or via email.
Frequently Asked Questions
What is the Fannie Mae STAR Performer award?
The Fannie Mae STAR Performer award recognizes top-performing mortgage servicers for excellence in managing loan portfolios.
How many years has PHH Mortgage received the STAR award?
PHH Mortgage has received the STAR Performer recognition for four consecutive years.
What metrics are used to evaluate the STAR participants?
Metrics include General Servicing performance, Solution Delivery efficiency, and Timeline Management capabilities.
How many loans does PHH Mortgage service?
As of the end of 2024, PHH Mortgage services approximately 1.4 million loans.
Who can be contacted for further information about PHH Mortgage?
Dico Akseraylian, SVP, Corporate Communications, is available for inquiries at (856) 917-0066.
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