FORT WASHINGTON, PA — Newrez LLC has won three coveted Fannie Mae STAR Awards for 2023, making it the only servicer, bank or nonbank, to achieve this distinction. The awards – in General Servicing, Solution Delivery, and Timeline Management – are a testament to the high standard set by Newrez’s employees and its commitment to borrower satisfaction.
The STAR Program, established by Fannie Mae, provides a comparative framework to benchmark mortgage servicers and recognize industry leadership. The categories reflect key aspects of mortgage servicing:
- General Servicing evaluates servicers based on their management of early term roll rates and investor reporting and accounting.
- Solution Delivery measures servicers’ ability to resolve delinquent loans and manage collections call centers effectively.
- Timeline Management assesses servicers’ ability to resolve or liquidate loans that exceed allowable foreclosure time frames.
“Winning three Fannie Mae STAR Awards is a tremendous honor and a testament to the dedication and hard work of our entire team,” said Baron Silverstein, President of Newrez. “Our strong servicing leadership team is the key to our success and strategy at Newrez – we are committed to providing our customers with the highest quality experience and exceeding industry standards.”
The awards cap an exceptional year for Newrez, during which the company boarded 1.1 million new customers onto its platform, celebrated its four millionth customer boarding, and maintained an industry-leading cost-per-loan while delivering stellar customer service.
Shane Ross, Head of Servicing for Newrez, attributed the company’s success to its dedicated team members, describing them as “the DNA behind these awards.”
A key driver of Newrez’s success has been its tech-enabled servicing platform. As part of its ongoing commitment to enhancing the homeownership experience for borrowers, the company plans to continue investing in cutting-edge technology.
Based in Fort Washington, Pennsylvania, Newrez is a leading mortgage company dedicated to reimagining the homeownership journey. By combining mortgage origination and servicing, Newrez offers a streamlined, customer-centric experience, guiding homeowners toward the most beneficial financial decisions every step of the way.
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