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Globe Newswire 16-Mar-2023 4:15 PM
WEST PALM BEACH, Fla., March 16, 2023 (GLOBE NEWSWIRE) -- PHH Mortgage ("PHH" or the "Company"), a subsidiary of Ocwen Financial Corporation (NYSE:OCN) and a leading non-bank mortgage servicer and originator, today announced the Company achieved Fannie Mae's 2022 Servicer Total Achievement and RewardsTM (STAR TM) Performer recognition. PHH has earned STAR Performer recognition for two consecutive years.
STAR Performer recognition is reserved for top performing servicers within one or more of three STAR Performer categories: General Servicing, Solution Delivery, and Timeline Management. In 2022, PHH has received recognition in the General Servicing category.
"We're honored to have again achieved Fannie Mae's STAR recognition for excellence in mortgage servicing," said Scott Anderson, Executive Vice President and Chief Servicing Officer of PHH Mortgage. "Our team is unwavering in their commitment to providing industry-leading service to our customers, clients and investors, and this recognition is a testament to their dedication and passion for supporting our customers throughout their homeownership journey."
Anderson continued, "We believe the year-over-year growth we are experiencing in our servicing and subservicing portfolio for both forward and reverse mortgages also reflects the strength and quality of our platform, our unmatched breadth of capabilities and our track record of execution. We look forward to continuing to deliver value to all those we serve."
For 2022, STAR Program participants are measured on the basis of their performance managing General Servicing (Transition to 60+ and Investor Reporting Score), Solution Delivery (60+ to Cure, Retention Efficiency, Liquidation Efficiency, and Six-Month Modification Performance), and Timeline Management (Transition to Beyond Time Frame). Each servicer's performance in these metrics is compared against the performance of other Fannie Mae loans with similar credit characteristics.
About Ocwen Financial Corporation
Ocwen Financial Corporation (NYSE:OCN) is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs. Liberty is one of the nation's largest reverse mortgage lenders dedicated to education and providing loans that help customers meet their personal and financial needs. We are headquartered in West Palm Beach, Florida, with offices and operations in the United States. the U.S. Virgin Islands, India and the Philippines, and have been serving our customers since 1988. For additional information, please visit our website (www.ocwen.com).
For Further Information Contact:
Dico Akseraylian, SVP, Corporate Communications