SHARP-en Your Focus in 2023: Strategies from an Award-Winning Servicer
In February, 2022, we announced the 2021 winners of our annual Servicer Honors and Rewards Program (SHARP)SM –nine Servicers providing stellar customer service and proactive solutions for loan delinquencies. As with our 2020 awards, these were uniquely important as COVID-19 forced the industry to quickly react and adapt.
As we head into a new year, new SHARP winners will emerge, determined by their monthly Servicer Success Scorecards and other factors. PHH Mortgage Corporation clearly has a recipe for success that continues to drive them forward, as they once again took home the top award in their rank group and continue to thrive during a rapidly changing market.
“We know how hard we work with our borrowers, including those who are having difficulties. Having Freddie Mac, a leader in the servicing industry, saying it is hugely valuable and not just publicly, but internally, as it allows our employees and associates to feel good and understand that we are doing a really great job. This award is a tremendous honor and we are very appreciative.” -- Jay Williams, Senior Vice President and Chief Operating Officer, PHH
Here are some tips on getting ahead of the competition:
- Unravel the details behind your Servicer Success Scorecard. In some of the metric categories, it may be only a handful of loans separating first place from fifth place.
- Engage with your servicing relationship manager. Work with them through the various account plans to determine and meet our collaborative goals.
- Implement other programs including Reimagine Servicing®, Resolve® and Total MISM. Through these solutions, we can work together to help Servicers both manager their Freddie Mac portfolios as well as move non-performing loans—this has been a big part of the success of SHARP winners.
“Freddie Mac congratulates SHARP winners and all Servicers for their hard work and continuous efforts to keep homeowners in their homes, and we’re looking forward to announcing this year’s winners,” says Maguire.