New American Funding, a leader in the mortgage industry, has been recognized with a Servicer Total Achievement and Rewards™ (STAR™) award for General Servicing 2020 by Fannie Mae.
New American Funding prides itself on its customers’ satisfaction with 160,000+ online reviews for an overall rating of 4.9/5.0.
The company also has a current servicing portfolio of over 181,000 loans for approximately $46.7 billion—all of which they service themselves instead of selling off to other servicers.
“We take great pride in servicing our loans. Our customers always know they are dealing with us,” said CEO Rick Arvielo. “This honor validates how we assist new and existing homeowners with our same high standard of customer care not just through the loan process, but throughout the life of the loan.”
In a year with historically low rates, the highest-recorded number of refinances, and a pandemic, the company was still able to step up with record-breaking funding of 104,488 loans for $30.5 billion. With its remote workforce, the company doubled its volume from 2019 to 2020 and hired 2,776 team members—increasing its staff size by 35%.
Established in 2011, the STAR Program awards assess Fannie Mae servicers based on three operational and performance areas: general servicing, solution delivery, and timeline management. New American Funding was honored for the first time in the General Servicing category.
The STAR Program measures servicer competency, capacity, and overall performance. It is designed to help its servicers quickly identify opportunities for improvement by comparing their performance relative to other servicers, and monitor progress and trends against key indicators selected to reflect Fannie Mae’s current business objectives.
To learn more about New American Funding’s career opportunities, visit their careers page today.