CU Members Mortgage servicing department earns Fannie Mae’s highest designation for best practices
FORT WORTH, TX (May 5, 2015) — Fannie Mae has announced that Colonial Savings, parent company of CU Members Mortgage, has been recognized as a STAR Performer for best practices in the areas of General Servicing, Collections/Loss Mitigation and Neighborhood Stabilization for 2014. The Fannie Mae Servicer Total Achievement and Rewards (STAR) Program supports the mortgage industry by establishing a transparent and formal framework to recognize Fannie Mae mortgage servicing partners for their competency, capacity and overall performance.
The STAR recognition framework assesses mortgage servicers in three categories using a system of red, yellow or green ratings, with green indicating the best performance. Information is collected and analyzed across key dimensions of people, processes, quality control, reporting and training. Colonial, which services loans for its credit union division, CU Members Mortgage, was the only servicer in its peer group to be recognized as a STAR Performer in all three assessment categories, making it Fannie Mae’s highest achieving STAR Performer within the group.
“To be the only mortgage servicer rated GREEN in all three of Fannie Mae’s assessment categories clearly makes the servicing of our credit union loans a “best in class” operation,” said Tim Neer, senior vice president of mortgage services. “We are humbled to receive this designation. I am truly proud of our servicing team and very grateful for the support of Chief Operating Officer Allen Maulsby and the entire organization. It’s a great honor but the real satisfaction comes in knowing how credit union mortgage customers benefited from our work. That is what really matters at the end of the day.”
Colonial’s Fannie Mae STAR Performer designation was applauded by the company’s Chairman of the Board Jim DuBose and President David Motley, who added, “We are very proud to be a Fannie Mae servicing partner, and are pleased to deliver superior performance to our customers. We have a great group of talented people in our servicing department who are committed to delivering their very best every single day. This honor is proof of their hard work and dedication.”
About CU Members Mortgage
Founded in 1982 as a division of Colonial Savings, Dallas-based CU Members Mortgage provides comprehensive mortgage services to more than 1,000 credit unions, CUSOs, and leagues nationwide. CU Members Mortgage originates more than $2 billion in FHA, VA, and conventional loans each year. With a portfolio of $25 billion, Colonial is one of the largest servicers of mortgage loans in the United States. Advanced technology, including a dedicated website with an online mortgage application that delivers confirmation in minutes, makes CU Members Mortgage one of the industry’s leading resources for mortgage services. The company is privately held and has branches located nationwide. For more information, visit: www.cumembers.com.
Photo captions: (left) President David Motley; (right) SVP and Director of Loan Servicing Tim Neer