Fannie Mae Ranks Banks in ‘Robo-Signing’ Settlement as Top Servicers

“When asked about the discrepancy between the banks’ public image and their positive Fannie Mae evaluation, David Berenbaum, chief program officer of the National Community Reinvestment Coalition, pointed out that top-ranked service performance in the mortgage industry does not necessarily mean good performance.” ~ huh?


Fannie Mae Ranks Banks in ‘Robo-Signing’ Settlement as Top Servicers

Some of the most publicly reviled banks are currently industry leaders when it comes to good service, according to a report by Fannie Mae released Thursday.

Fannie Mae gave three-star ratings to CitiMortgage, JPMorgan Chase, Ally Bank and Wells Fargo — four of the five largest U.S. mortgage servicers, which were involved in the $25 billion “robo-signing” settlement — for their service performance in the first half of 2012.

The evaluation, part of Fannie Mae’s Servicer Total Achievement and Rewards Program, assigns anywhere from a one- to five-star rating to banks based on “overall performance, customer service and foreclosure prevention efforts.”

A three-star rating was the highest earned of all banks assessed by Fannie Mae which, along with Freddie Mac, guarantees more than half of U.S. mortgages.

The results of the evaluation come at a time when mortgage-servicing standards are under public scrutiny, with the Consumer Protection Financial Bureau having proposed industry-wide rules to protect borrowers earlier this month.

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4 Responses to “Fannie Mae Ranks Banks in ‘Robo-Signing’ Settlement as Top Servicers”
  1. So so irritating that “The Government” and “The Banks” continue to try to LOOK like 2 separate entities… The gig is up… Quit trying to protect your fannies and realize all these NEW FHA FIXED LOANS ARE FRAUD ROUND 2!!! Inflation is currently the reality and hyperinflation is what’s coming…. This year I predict the banks will start announcing they are filing bankruptcy, then not only will the governments credit card will shut off BUT… THEY WON’T BE “BACKED” again! No banks… No Federal Reserve…. No federal reserve… No unlimited printing…. No unlimited printing NO SECURITY!!! Wake UP AMERICA!!!

  2. I so agree time for all the crap to come to an end.

  3. 1ofthemany says:

    NOOOOOOOOOOOOOO they did not!!!!!where are the county fees for this massive robo signing debacle by the “Good Banks” ??? PAY UP !!!!!!!!!!!! Fannie your A$$ is showing!!!! Kinda like all of your counterparts oooh yes I forgot your father (DeMarcit ) made U do it, yes sweetie …now robo here now robo there…Fannie Pay up $lut!!!!!!!!! Your A$$ is just to big to hide now my dear, I mean that in the nicest way Fannie baby. Fannie and friend$. And NO principle reduction for inflated bad bad borrowers of fraudulent mortgages you slimy mobster gangsta, humm do you have friend in Chicago?!?!? Just saying!! Oh I think you bloomers are dirty girl, yo daddy did a bad job raising you but “We the People” are thinking we can fix this.”YES WE CAN” to quote a fearless leader out of Capone country via Kenya.

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