There are two main takeaways from the J.D. Power 2021 U.S. Primary Mortgage Origination Satisfaction Study: first, there can be too much of a good thing; and second, Rocket Mortgage/Quicken Loans didn’t top the customer satisfaction list for the first time in 11 years.
Tag: Jim Houston
J.D. Power: Mortgage Servicers Get High Marks; Nonbanks Gain Traction
J.D. Power, Troy, Mich., said mortgage servicers earned high levels of customer satisfaction during the pandemic, but warned as loan forbearance programs come to an end and more normalized customer interactions resume, traditional banks are starting to lose their edge over non-bank lenders.
J.D. Power: Annual Satisfaction Study Reveals ‘Underlying Problems’ in Mortgage Industry
Record-low interest rates and low housing inventories have driven U.S. home sales to a 14-year high and yet another refinancing boom—the Mortgage Bankers Association now estimates 2020 mortgage originations to jump to $3.18 trillion—but it has also exposed underlying weaknesses in lender and servicer strategies, said J.D. Power, Troy, Mich.