Freddie Honors Top Servicers

Twenty-six single-family mortgage servicers have been honored by Freddie Mac for achieving its Tier One performance rankings, the government-sponsored enterprise has announced.The designation was given to servicers whose management of performing and nonperforming loans was deemed superior for two or more quarters in 2003. Tier One status brings with it fee waivers, financial rewards, and national recognition, Freddie Mac said. The government-sponsored enterprise ranks servicers in four tiers based on their investor reporting and default management. In addition to designating the Tier One servicers for 2003, Freddie Mac also inducted eight of the 26 servicers into its Tier One Hall of Fame for achieving Tier One status four years in a row. They are: Alliance Mortgage Co.; Bank of America Mortgage; Chevy Chase Bank FSB; Countrywide Home Loans Inc.; First Horizon Home Loan Corp.; HSBC Mortgage Corp. (USA); National City Mortgage Co.; and Wells Fargo Home Mortgage Inc.