Loading, Please Wait...
MCLEAN, Va., March 22, 2019 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) announced the launch of the new Freddie Mac Servicer Honors and Rewards Program (SHARP)SM. Freddie Mac SHARP will recognize and reward mortgage loan Servicers for great customer service and positive efforts to prevent and cure delinquencies, and help borrowers over the course of a calendar year by reviewing a Servicer’s performance as measured by specific servicing metrics, benchmarks and requirements. It is part of the company’s Reimagine Servicing Initiative to transform the servicing landscape, where all efforts are centered around improving the client experience.
“Freddie Mac believes in loan servicing by, for and about Servicers – that is our compass to reimagine servicing,” said Yvette Gilmore, vice president, servicer relationship and performance management for the Single-Family Business at Freddie Mac. “Our goal is to build on Freddie Mac’s amazing client service momentum and ensure that Servicers are recognized for their dedication to smart servicing and support of borrowers throughout the homeownership lifecycle.”
SHARP is an easy, automatic rewards program that is based on the Servicer Success Scorecard ranking. Servicers who have more than 20,000 Freddie Mac master-serviced loans, are automatically enrolled in SHARP which provides performance incentives through rewards and recognition.
“Freddie Mac commends its Servicers for their continued dedication to servicing mortgage loans, assisting borrowers and reducing the complexity of the loan servicing process. As of December 2018, Freddie Mac’s serious delinquency rate was 0.69 percent, which is the best in the industry,” added Gilmore. “Now is the time for our Servicers to get SHARP and further improve servicing performance. Next year’s winners will be recognized based on the good work being done in 2019.”
To learn more about the Freddie Mac SHARP program, visit http://www.freddiemac.com/singlefamily/sharp.html
About Freddie Mac
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.
MEDIA CONTACT: Chad Wandler