SIMSBURY, CT - July 15, 2013 – Simsbury Bank, one of Connecticut’s leading private banks and loan servicer, has earned for the first time ever a “Tier 1” rating from Freddie Mac Loan Servicing, its highest honor. The “Tier 1” rating is reserved for those mortgage loan companies that have achieved the highest standards of servicing quality.
“In the banking world, this accomplishment is like receiving the Good Housekeeping Seal of Approval! It is a testament to the hard work, dedication, commitment and persistence from within our staff here at Simsbury Bank and the great partnership that has developed with Freddie Mac over time” says Martin Geitz, CEO of Simsbury Bank.
Simsbury Bank ranked number one hundred and twenty three out of one thousand two hundred and thirty four banks in the country that have received a Tier 1 rating. This rating is awarded to banks that receive 100% each quarter with servicing Freddie Mac Loans effectively and reporting accurate investor reporting and remitting for the loans.
Freddie Mac began the rating system for mortgages in 1996 with “Tier 1” being the highest Freddie Mac award. It is based on demonstrating not only exceptional efficiency but also for remarkable performance in helping families with Freddi Mac owned loans succeed as long-term home owners.
Simsbury Bank is an independent, publicly owned community bank for consumers and businesses. Simsbury Bank’s parent company is SBT Bancorp, Inc. whose stock is traded under the ticker symbol OTCBB: SBTB. The Bank serves customers locally through branches in Greater Hartford and regionally through mortgage and commercial bankers active throughout Southern New England. Simsbury Bank customers enjoy internet banking and mortgage services at, respectively, www.simsburybank.com and www.simsburybank.com/mortgages. Bank customers have free ATM access at thousands of machines across the country through the SUM program. The Bank offers financial planning, investment and insurance products through LPL Financial and its affiliates, member FINRA/SIPC.
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