OWENSBORO, Ky., May 10, 2004 (BUSINESS WIRE) -- Officials from Freddie Mac will
be in Owensboro, Ky. on Thursday, May 13 to honor employees at the U.S. Bank
Home Mortgage Servicing Center at 4801 Frederica Street in Owensboro for the
company's ranking as a Freddie Mac Tier One Mortgage Servicer.
The honor, which was announced by Freddie Mac in February, recognizes U.S. Bank
Home Mortgage for superior investor reporting and default management during
2003. Tier One servicers have "superior results" helping delinquent borrowers
overcome short-term financial difficulties and avoid foreclosure, thereby
minimizing credit losses.
As a result, Freddie Mac extends a number of benefits to U.S. Bank Home
Mortgage, including fee waivers, financial rewards and national recognition.
Since 1996 when Freddie Mac created the servicer performance awards, it has
proudly paid out more than $20 million in incentives to mortgage servicers for
their loss mitigation efforts, including settled workouts and certain partial
reinstatements of loans in foreclosure.
"We are honored and tremendously grateful to Freddie Mac for this recognition,"
said Dan Arrigoni, president of U.S. Bank Home Mortgage. "Our goal is always to
provide superior service to our mortgage customers, as represented by our Five
Star Service Guarantee. The employees in our service operations have heard the
call and deliver to a very high standard day in and day out. We're proud of them
and this great accomplishment."
U.S. Bank Home Mortgage is a part of U.S. Bancorp (NYSE:USB). With assets of
$192 billion, U.S. Bancorp is the 7th largest financial services holding company
in the United States. The company operates 2,275 banking offices and 4,472 ATMs
in 24 states and provides a comprehensive line of banking, brokerage, insurance,
investment, mortgage, trust and payment services products to consumers,
businesses and institutions. U.S. Bancorp is home of the Five Star Service
Guarantee which assures customers of certain key banking benefits and services
or customers will be paid for their inconvenience. U.S. Bancorp is the parent
company of U.S. Bank. Visit U.S. Bancorp on the web at usbank.com.
SOURCE: U.S. Bank
CONTACT: U.S. Bank
Teri Charest, 612-303-0732
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SOURCE: U.S. Bank