Press
CU Members Mortgage’s servicing department earns Fannie Mae Four STAR Award
DALLAS, TX (April 22, 2014) — CU Members Mortgage has announced that its parent company, Colonial Savings, was named a Four STAR Servicer as part of Fannie Mae’s Servicer Total Achievement and Rewards™ (STAR) Program for the full year of 2013. The STAR program was created to measure mortgage servicers across key operational and performance areas relative to their peers and to recognize high achievement through STAR designations. It is based on scorecard metrics related to customer service and foreclosure prevention results and operational assessments of the servicer’s processes, policies and capabilities.
The company is one of only five mortgage servicers in the nation to receive Four STARS. Only one servicer in the nation received Five STARS.
Servicers are divided into three peer groups based on the number of Fannie Mae loans that they service and are measured relative to their peers. The Four STAR designation signifies top quartile results on the Fannie Mae Scorecard for its peer group and demonstration of consistent processes with repeatable outcomes across the aggregate of reviewed areas.
Tim Neer, senior vice president of CU Members Mortgage Servicing, said the award reflects the focused attention and hard work applied to improving account service for credit union members. “We have always provided superior service, but we continually look for ways to improve,” said Neer. “That we moved up from Three to Four STARS in the Fannie Mae program demonstrates the enhancements we have made to our processes to ensure credit unions and their members have an even better relationship with their mortgage servicer.”
Linda Clampitt, senior vice president of CU Members Mortgage, continued, “The Fannie Mae Four STAR Award is a huge honor, and validates our commitment to making the home-buying experience a positive one for members long after a loan is closed. Service after the sale is just as important as loan originations. We’re proud to make the entire process a great one.”
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. The company originates more than $3 Billion in FHA, VA, Conventional and Construction loans each year. With a servicing portfolio of $25 Billion, it is one of the largest servicers of mortgage loans in the country. Advanced technology, including a dedicated website with an online mortgage application that delivers confirmation in minutes, makes CU Members one of the credit union industry’s leading resources for mortgage origination and servicing. The company is privately held and has branches located nationwide. For more information visit www.cumembers.com.