News Source: Dovenmuehle
LAKE ZURICH, Ill., Dec. 19, 2024 (SEND2PRESS NEWSWIRE) — Dovenmuehle Mortgage, Inc., a leader in mortgage subservicing, announced today that it received a Tier 1 Rating from the U.S. Department of Housing and Urban Development (HUD). This rating was awarded for Dovenmuehle’s Federal Housing Administration (FHA) servicing performance under HUD’s Tier Ranking System II (TRS II).
Image caption: Dovenmuehle Mortgage.
The TRS II assigns an “A” grade to Tier 1 performers and assesses servicers across multiple performance areas, including early delinquency intervention and Single Family Default Monitoring System (SFDMS) reporting. This top-tier designation highlights Dovenmuehle’s success in meeting FHA standards related to delinquent loan servicing, foreclosure prevention, loss mitigation and reporting requirements. A critical factor in achieving this Tier 1 rating was Dovenmuehle’s 100% Loss Mitigation Engagement score, which reflects the company’s proactive support for borrowers facing financial challenges.
“We take pride in receiving HUD’s Tier 1 rating, as it demonstrates our team’s dedication to high standards in FHA servicing,” said Dovenmuehle Senior Vice President of Default Administration, Ron Malik. “This rating not only reaffirms our team’s commitment to supporting FHA borrowers to help them preserve homeownership during periods of financial difficulties but also reflects our solid compliance practices and disciplined approach to loan servicing. These efforts safeguard our clients’ assets and the taxpayer-supported FHA insurance fund.”
The TRS II Scorecard, issued quarterly by HUD, assesses servicers’ effectiveness in borrower support strategies and adherence to delinquent servicing guidelines. For more information, visit https://www.hud.gov/program_offices/housing/sfh/nsc/trsovrvw.
About Dovenmuehle:
Founded in 1844, Dovenmuehle (Lake Zurich, Ill.) is a mortgage subservicer for commercial banks, credit unions, independent mortgage lenders, MSR investors, and state housing finance agencies nationwide. The company subservices portfolio loans, and loans sold with servicing retained to Fannie Mae, Freddie Mac, Ginnie Mae and the Federal Home Loan Bank. Using a combination of best-in-class and proprietary technology, Dovenmuehle helps lenders reduce servicing costs and deliver consistently high levels of service to homeowners while maintaining compliance with investor and regulatory requirements. Learn more at https://dovenmuehle.com.
This press release was issued on behalf of the news source (Dovenmuehle), who is solely responsible for its accuracy, by Send2Press Newswire.
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