Early Contact Drives Customer Satisfaction with Mortgage Servicers
US Banker | September, 2009
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FeedbackMortgage servicers who reach out to homeowners have taken the lead in a customer satisfaction survey of the field, the latest research from J.D. Power and Associates shows. Those companies average 651 points on a 1,000-point scale, compared with 613 points for servicers who waited for customers to contact them. “Taking care of customers in their hour of need is critically important, particularly among customers with otherwise blemish-free credit histories,” according to J.D. Power director of financial services David Lo. Twenty-one percent of customers who describe their servicer as helpful say they’ll use that provider again.
Regions Mortgage tops the list of J.D. Power’s 2009 Mortgage Servicer Satisfaction Study, with a score of 780 points, closely followed by BB&T (777) and U.S. Bank (771). Others in the top ten are GMAC Mortgage (752); Chase (749); Wells Fargo (749); Flagstar Bank (743); SunTrust Mortgage (740); National City Mortgage (735); and WaMu (732). The results are derived from feedback from more the 5,000 homeowners.
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