Google Reader
del.icio.us Mortgage News Review
Add to My Yahoo!
Subscribe with Bloglines
Subscribe in NewsGator Online

myFeedster
Add to My AOL
Furl Mortgage News Review
Subscribe in Rojo
Subscribe with Pluck RSS reader
Add 'Mortgage News Review' to Newsburst from CNET News.com
Feed Your Feeds
Kinja Digest
Solosub
MultiRSS
Rmail
Blogarithm
Eskobo
gritwire
BotABlog








 

 
 


 

Who Do Mortgage Customers Like Best?

7:42 pm   -   December 14th, 2006

J.D. Power and Associates released their results of a study of mortgage lenders and customer satisfaction. The 2006 Primary Mortgage Origination Study is based on responses from 4,115 consumers who originated a new mortgage in the previous nine months. The study was fielded between October and November 2006.

And the winner is? suntrustlogo

 SunTrust Mortgage with a 782 score of a possible 1,000

The remaining lenders in the top 5 are:

  • Bank of America - 781
  • Wachovia - 774
  • Wells Fargo - 766
  • Chase - 762

Option One Mortgage Corporation scored a second to last place with the satanical 666 score. After their parent H&R Block announced last week a $39 million pre-tax loss for Option One, this probably adds insult to injury. H&R Block has been trying to sell Option One for several months.

Good news for the industry overall is that satisfaction was up 7% over the same period in 2005. The study measures satisfaction in the three phases of lending: application/approval process; loan officer; and closing. The increase over 2005 satisfaction survey results was primarily in the closing phase.

The study found that 28% of people surveyed had problems in the closing phase of the transaction. On average, 40 percent of these people stated their loan did not close on time. How important is that third phase of the transaction? Customers of the top 5 ranked lenders make 20% more recommendations of their lender  to others.

Read the entire press release here.

Information about JD Power and Associates is here



Moreover Technologies - Mortgage industry news - 30 of 5053 returned
Moreover Technologies - Real-time news and blogs from thousands of sources

Mortgage Info - Sponsored Link
Ad - Get Info for Mortgage from 14 search engines in 1.
Mortgage lending increases by 7%
Mortgage lending rose by nearly 7% during October but it remained well down on 12 months ago, figures show. Skip related content Related photos / videos Related content A total of £18.7 billion was advanced during the month, compared with just £17.5
ANZ drops fixed mortgage rates
- 2:17PM ANZhas matched National Australia Bank's and Commonwealth Bank's cut to interest rates on fixed home loans, lowering the rates by up to 100 basis points. ANZ has dropped the interest rate on one and two year fixed home loans by 1.00 percentage
ANZ To Cut Fixed Home Loan Rates By Up To 1.0%
MELBOURNE -(Dow Jones)- Australia & New Zealand Banking Group Ltd. (ANZ) said Friday it will cut its fixed home loan rates by up to 100 basis points from Monday. ANZ has reduced the interest rate on one and two year fixed home loans by 100 basis
ANZ drops fixed rate home loans
Article from: AAP Font size: Decrease Increase : Email : Print November 21, 2008 12:10pm ANZ has matched National Australia Bank's (NAB) and Commonwealth Bank of Australia's (CBA) cut to interest rates on fixed home loans, lowering the rates by up to 100
Mortgage Rates Fall For 3rd Straight Week
A week ago, 30-year, fixed-rate mortgages averaged 6.14 percent by OfficialWire NewsDesk WASHINGTON, D.C. (OfficialWire) 11/20/08 Interest rates for 30-year, fixed-rate U.S. mortgages fell for the third consecutive week, the Federal Home Loan Mortgage
1:10pm ANZ drops fixed rate home loans
ANZ has matched National Australia Bank's (NAB) and Commonwealth Bank of Australia's (CBA) cut to interest rates on fixed home loans, lowering the rates by up to 100 basis points. ANZ has dropped the interest rate on one and two year fixed home loans by
Fannie Mae, Freddie Mac to suspend foreclosures during holiday season
Reporting from Washington Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures for about 16,000 households during the holiday season. The two companies said Thursday that they would halt foreclosure sales between Wednesday
Australia's FirstMac Launches 1-Year Low Fixed Rate Mortgage
SYDNEY -(Dow Jones)- Tentative signs the Australian government's investment in the securitization market is helping improve competition in the mortgage sector are beginning to emerge. Brisbane-based non-bank lender FirstMac announced Friday a home
ANZ drops fixed rate home loans
ANZ cutting fixed rates by up to 100 bp Changes take effect November 24 ANZ ) has matched National Australia Bank's (NAB) and Commonwealth Bank of Australia's (CBA) cut to interest rates on fixed home loans, lowering the rates by up to 100 basis points.
Freddie Mac and Fannie Mae Announce Ban on Foreclosures Until Jan. 2009
(CEP News) - The two companies said no evictions will take place during that time period. Furthermore, they instructed loan servicers and attorneys working for them to suspend foreclosure sales of single-family homes. The release on Fannie Mae's website
Mortgage lending rises 7 percent in Oct
LONDON (Reuters) - Mortgage lending rose for the first time since July in October, up 7 percent from the month before, but is still 44 percent lower than the same time last year, the Council of Mortgage Lenders said on Thursday. Mortgage lending totalled
Fannie Mae and Freddie Mac suspend some foreclosures
NEW YORK (Reuters) - Fannie Mae and Freddie Mac, the two biggest U.S. home loan finance companies, on Thursday said they would suspend foreclosures of occupied homes until early 2009, as the government moves to stem the tide of home losses plaguing the
Drug dealing tied to mortgage scam
NEW YORK, Nov. 20 (UPI) -- Federal prosecutors in New York say two men involved in a mortgage fraud scheme used some of the houses they acquired for cocaine distribution. Robert Guerrero and Gary Jacques were indicted Wednesday, Newsday reported. The two
A lawyer may help your mortgage-modification case
Question: What do you think of hiring a law firm to negotiate a loan modification? They charge $3,995 and say they have a 95% success rate. Do you think this is better than trying to do it on your own since so many people have so much trouble?Answer: I

Powered by INR Media