Online retail mortgage lender Quicken Loans continues to rack up the customer service awards.
Quicken was the highest-ranked lender for the fourth consecutive year in J.D. Power's annual Primary Mortgage Origination Satisfaction study. The Detroit-based company scored 841 on a 1,000-point scale in a survey that measured customers' satisfaction with the mortgage application and approval process, interactions with their loan representative, closing experience, and level and quality of contact with lenders.
"What makes this award truly unique is that it comes entirely from our clients, the people who have spent time with us and trusted us with what will likely be the single largest financial transaction of their lifetime," Quicken Loans Chief Executive Bill Emerson said in a Thursday press release. "We can invest in technology and train our people, but the real test of how well we are doing is the impression we leave with our clients."
BB&T (BBT) in Winston-Salem, N.C., ranked second in the study with a score of 798. U.S. Bancorp (USB) in Minneapolis was close behind with a score of 783.
Overall customer satisfaction increased for the third consecutive year with an average score of 771, up 10 points from 2012.
The J.D. Power survey is based on responses from 3,267 customers who took out a new mortgage or refinanced within the last 12 months. The study was conducted between July 30 and Aug. 30.