In an exciting development for the mortgage servicing industry, ServiceMac, a dynamic mortgage subservicer and a subsidiary of First American Financial Corp, has been recognized as a 2024 Servicer Honors and Rewards Program (SHARPSM) award winner by Freddie Mac. The company earned a prestigious gold award in the category for servicers that manage between 75,000 and 199,999 Freddie Mac mortgages. This accolade highlights ServiceMac's commitment to excellence in customer service and its proactive strategies to reduce credit risk and operational costs.

1. A Testament to Excellence

Bob Caruso, the president and CEO of ServiceMac, expressed his pride in the award, emphasizing the company's mission to enhance servicer performance through superior customer service and efficient risk management. “Since our inception, we’ve been focused on helping servicers provide superior customer service to their clients, while maximizing efficiency and managing portfolio risk,” Caruso stated. “Freddie Mac’s recognition serves as an endorsement of our approach, which combines our proprietary subservicing technology platform with industry-leading customer support delivered by our expert staff members.”

The SHARP awards are determined through comprehensive evaluations based on the Servicer Success Scorecard rankings, which assess portfolio performance and customer service efficacy over the previous year.

2. Recognizing Industry Leaders

Freddie Mac's Vice President of Servicing Relationship and Performance Management, Donna Spencer, highlighted the significance of the SHARP awards in celebrating the achievements of top-performing servicers. “Freddie Mac is proud to recognize the exceptional achievements of our servicers in this year’s SHARP awards,” Spencer remarked. She emphasized the critical role that these servicers play in improving homeowner outcomes through education, assistance, and innovative solutions, particularly for distressed borrowers.

3. ServiceMac’s Rapid Growth

Founded in 2017 and acquired by First American in October 2021, ServiceMac has demonstrated remarkable growth, onboarding its first portfolio in 2019 and currently managing over $200 billion in loans across first and second mortgage portfolios. Its success is attributed to a robust technology framework, advanced risk management and compliance tools, and a dedicated customer service team. ServiceMac caters to a diverse clientele, including mortgage servicing rights holders, master servicers, and borrowers, by offering efficient and effective servicing workflows.

4. About ServiceMac and First American

ServiceMac, LLC is committed to delivering top-tier technology, customized products, and services for the mortgage industry. The company emphasizes personalized service and support, providing lenders, investors, and other mortgage servicers with tailored solutions that enhance security, customer satisfaction, and profitability.

First American Financial Corporation (NYSE: FAF) stands as a leading provider of title, settlement, and risk solutions for real estate transactions, boasting over 135 years of experience. The company is at the forefront of digital transformation within the industry, offering a broad array of services including data products, valuation services, mortgage subservicing, and banking solutions. In 2024, First American reported total revenue of $6.1 billion and was recognized as one of the 100 Best Companies to Work For by Great Place to Work® and Fortune Magazine for the ninth consecutive year.

For more information about ServiceMac and its innovative offerings, visit ServiceMac. To learn more about First American, please visit First American.

This recognition not only marks a significant milestone for ServiceMac but also illustrates First American's commitment to excellence and innovation in the mortgage servicing landscape. As the industry continues to evolve, the focus on customer service and operational efficiency remains paramount for success.

Original press release