Fannie Mae Announces Year-End Servicer Performance Scorecard Results

Fannie Mae Announces Year-End Servicer Performance Scorecard Results

By Daniel Edstrom
DTC Systems, Inc.

Quote from news release dated March 15, 2012:

The STAR Program was created to establish standards and recognize excellence among Fannie Mae servicers in their overall performance, customer service, and foreclosure prevention efforts.

Another Quote:

Overall STAR performance rankings are issued on an annual basis each April.

Apparently Fannie Mae missed the flood of Cease and Desist Consent Orders issued by various government regulators on April 13, 2011 for unsafe or unsound foreclosure policies and practices.  The government regulators were the Office of the Comptroller of the Currency, the Office of Thrift Supervision, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Federal Housing Finance Agency.

Fannie Mae has apparently missed the fact that nothing has changed and the servicers are not abiding by the Cease and Desist Consent Orders, unless they are doing this in secret or on a limited basis.

Here is the text of the news release, followed by the STAR Scorecard results for the previous quarters in 2011. Continue reading “Fannie Mae Announces Year-End Servicer Performance Scorecard Results”

Consolidated Listing of All Cease and Desist Consent Orders Issued on April 13, 2011

Consolidated Listing of All Cease and Desist Consent Orders Issued on April 13, 2011

By Daniel Edstrom
DTC Systems, Inc.

Due to the volume of requests, here is a listing of all known Cease and Desist Consent Orders issued in April 2011 in regards to the Interagency Review of Foreclosure Policies and Practices.

Interagency Review of Foreclosure Policies and Practices

Cease and Desist Consent Orders Department of Treasury: Office of the Comptroller of the Currency OTS Board of Governers for the Federal Reserve System FDIC FHFA
Bank of America x        
Citibank x        
HSBC x        
JPMorgan Chase Bank x        
US Bank x        
PNC Bank x        
MetLife Bank x        
Wells Fargo Bank x        
Aurora Bank   x      
EverBank   x      
EverBank Financial Corp   x      
IMB HoldCo LLC   x      
OneWest Bank   x      
Sovereign Bank   x      
MERSCORP and MERS x x x x x
LPS Default and DocX x x x x  
SunTrust     x    
Ally Bank / Ally Financial / Residential Capital / GMAC Mortgage     x x