26 Servicers Rank as 'Tier One'.(Brief Article)

Twenty-six mortgage servicers have achieved Tier One recognition from Freddie Mac for both superior investor reporting and default management during two or more quarters of last year.

Freddie Mac also inducted eight servicers into its Tier One Hall of Fame for achieving Tier One status for four consecutive years.

Freddie Mac ranks its servicers each month on the basis of several performance benchmarks that cover a wide range of activities, such as investor reporting and minimizing credit losses by helping delinquent borrowers overcome short-term financial difficulties and avoid foreclosure.

The ranking system consists of four tiers, with Tier One indicating "superior performance" and Tier Four indicating "unacceptable results."

Servicers that achieve Tier One rating for at least two quarters in a year receive a number of benefits, including fee waivers, financial rewards and national recognition.

The Hall of Fame recipients are Alliance Mortgage Co., Bank of America Mortgage, Chevy Chase ...