Flagstar Bank Recognized by Freddie Mac.

Detroit -- Flagstar Bancorp Inc. was named among 84 Freddie Mac servicing companies recognized with its 2005 tier-one performance ranking. The ranking is given when a high level of customer service in investor reporting and default management is achieved for more than one quarter each year.

Each month Freddie ranks the performance of its 1,500 national lenders that service its single-family mortgage loans, by measuring investor reporting and loss minimizing by working with delinquent borrowers.

Among the perks Flagstar and other tier-one lenders receive with the award are workout incentives, fee waivers and financial rewards.

The lenders are ranked on a scale of four tiers with tier one as the highest and tier four as the lowest with a need for the most improvement. This year Freddie named servicers in the platinum and gold levels of service. Flagstar was among the platinum lenders.

The award could help Flagstar, which has been in a fight with aggressive lenders in the Detroit area to grab the attention of borrowers.

Competitors doing business here were also given recognition for excellence in customer service by Freddie. Among lenders doing business in Detroit given a tier one ranking were Fifth Third Bank, National City Mortgage Co., Wells Fargo and Washington Mutual Bank.

The larger banks have managed to grab a portion of the well-sliced Detroit market share pie. The lenders have all beefed up operations in order to remain profitable in the struggling economy.