BOk Mortgage recently achieved Freddie Mac’s prestigious 2006 Tier One Platinum performance ranking for excellence in investor reporting and default management. According to Freddie Mac, BOK Mortgage was one of only 39 servicing companies nationwide to meet the high standards associated with the listing. Nationally, approximately 1,500 lenders service Freddie Mac-owned loans.
Freddie Mac is one of the nation’s largest investors in residential mortgages. The organization ranks its servicers each month on the basis of performance benchmarks that cover a wide range of activities, such as investor reporting, minimizing credit losses and helping delinquent borrowers avoid foreclosure.
Based on their management of active and delinquent loans, Freddie Mac ranks servicers in four tiers ranging from Tier One to Tier Four on their monthly Servicer Performance Profile. Servicers who achieve Tier One Platinum had Tier One ratings in both the Investor Accounting and Reporting and the Default Management categories of their Servicer Performance Profile for two quarters in 2006.
Freddie Mac is a stockholder-owned company established by Congress in 1970 to support homeownership and rental housing. Freddie Mac fulfills its mission by purchasing residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets.
BOk Mortgage is part of Bank of Oklahoma, N.A., a subsidiary of BOK Financial Corporation, a financial services company that provides commercial and consumer banking, investment and trust services, mortgage origination and servicing, and an electronic funds transfer network.