OWENSBORO, Ky.--(BUSINESS WIRE)--April 2, 2007--Freddie Mac, one
of the nation's largest investors in residential mortgages, recently
named U.S. Bank Home Mortgage to its Tier One Hall of Fame, which is
limited to servicers who have sustained this high level of performance
for at least four years.
"I want to personally thank U.S. Bank for consistently achieving
remarkable results through hard work, persistence and a commitment to
excellence," said Janet Eakes, senior vice president of single family
sourcing operations for Freddie Mac. "Our Tier One rankings go only to
those few mortgage servicers whose superior performance, efficiency,
and customer service set the benchmark for the rest of our industry."
U.S. Bank Home Mortgage has been recognized by Freddie Mac for the
past four years as a Tier One servicer for its work in loss
mitigation, which strives to keep people in their homes while
minimizing costs associated with foreclosure.
"U.S. Bank Home Mortgage has earned a solid reputation," said Dan
Arrigoni, president of U.S. Bank Home Mortgage. "We are proud of our
servicing employees in Owensboro and credit them for their hard work,
dedication to our customers and achievements in efficiency."
U.S. Bank reached a servicing milestone when it surpassed $100
billion in servicing volume in January 2007. U.S. Bank is sixteenth
among mortgage companies in the United States in terms of its
servicing portfolio, and in the top 20 in mortgage originations. The
$100 billion milestone compares to $52 billion just five years ago in
2002, and approximately $17 billion serviced in 1999.
One of the ways in which U.S. Bank supports customers who appear
to be on the brink of trouble in making their mortgage payments is to
proactively reach out to them with a video that is mailed to their
home, which walks them through the ways U.S. Bank can work with them
to get through a difficult time in their life and keep them from
losing their home. The video has been an effective tool in reaching
customers who are embarrassed or otherwise reluctant to call the bank
There are 675 employees who work in the servicing division of U.S.
Bank Home Mortgage. The servicing group is based in Owensboro, Ky.,
with centers in Cleveland and Bowling Green, Ky., and satellite
centers in Little Rock, Ark., Milwaukee and Minneapolis.
U.S. Bank Home Mortgage is part of U.S. Bancorp (NYSE:USB). With
assets of $217 billion, U.S. Bancorp is the 6th largest financial
holding company in the United States. The company operates 2,467
banking offices and 4,943 ATMs, and provides a comprehensive line of
banking, brokerage, insurance, investment, mortgage, trust and payment
services products to consumers, businesses and institutions. Visit
U.S. Bancorp on the web at www.usbank.com.
CONTACT: U.S. Bank Media Relations
Teri Charest, 612-303-0732
SOURCE: U.S. Bank