Ulster Savings receives Freddie Mac Gold rating
Kingston — Ulster Savings Bank has announced that they achieved an overall Tier One Gold performance rating from Freddie Mac, one of the nation’s largest investors in residential mortgages, for superior investor reporting and loan default management during 2008.
Ulster Savings Bank was chosen as one of four New York lenders to receive Freddie Mac’s Tier One Gold performance rating, and one of only 45 lenders nationwide to receive this distinction.
This award recognizes the bank’s commitment to assisting borrowers in avoiding foreclosure and its excellence in loan servicing and payment collection performance as compared to other lenders across the nation.
Ulster Savings Bank’s President and CEO, Marjorie S. Rovereto, commended the bank’s investor reporting, loan servicing, collection and loss mitigation employees for their efforts. “With a portfolio of nearly 11,000 mortgage loans that we service ourselves, and over 7,000 Freddie Mac loans among them, our staff does a truly remarkable job,” said Rovereto. “We’ve fostered a great relationship with Freddie Mac over the years and we are honored to receive their Tier One Gold award.”
This marks the sixth time since 2002 that Ulster Savings Bank has received recognition from Freddie Mac for superior loan servicing, investor reporting and payment collection performance.