Freddie Cites 'Tier One' Servicers

Freddie Mac has announced that 23 single-family mortgage servicers achieved "Tier One" performance rankings for superior investor reporting and default management during two or more quarters last year.The company also inducted 12 servicers into its Tier One Hall of Fame for maintaining that status for four consecutive years. The announcement was made at the MBA National Mortgage Servicing Conference in Orlando, Fla. Each month, Freddie Mac ranks its servicers on a range of activities covering two primary performance benchmarks -- investor reporting and default management. Servicers that receive an overall top Tier One rating for at least two quarters in a year receive a number of benefits, including financial rewards and national recognition. Tier One Hall of Fame honorees for 2004 are Amcore Mortgage Inc.; Bank of America Consumer Real Estate; Chase Home Finance; Chevy Chase Bank FSB; Colonial Savings FA; Countrywide Home Loans; First Horizon Home Loan Corp.; HSBC Mortgage Corp. (USA); M&T Mortgage Corp.; National City Mortgage Co.; Sovereign Bank; and Wells Fargo Home Mortgage. The additional 2004 Tier One recipients are Bank of Oklahoma NA; Citimortgage; Doral Financial Corp.; First Federal Savings Bank; IndyMac Bank; PHH Mortgage; Provident Funding Associates; R&G Crown Bank; SunTrust Mortgage; U.S. Bank Home Mortgage; and Ulster Savings Bank.