The J.D. Power 2015 U.S. Primary Mortgage Servicer Satisfaction study released Thursday found that servicers are spending too much time and resources focusing on at-risk customers, negatively impacting satisfaction for the majority of their customers. At-risk customers, those that J.D. Power defines currently behind in their mortgage payments or concerned about keeping current during the next year, represent only 15 percent of the survey respondent pool.
This small group of at-risk borrowers has been the center of regulatory and other government agencies such as the Consumer Financial Protection Bureau, Fannie Mae, and Freddie Mac. The survey determined that among mortgage service customers who are highly satisfied, 14 percent are at-risk customers and 86 percent are customers who are current with their payment. The servicer that ranked the highest in terms of customer satisfaction among all primary mortgage servicers for the second consecutive year was Quicken Loans.
Nationstar Mortgage Holdings rebounded from a $48 million net loss in the first quarter this year to post a net income of $75 million for the second quarter in the company's Q2 2015 earnings statement released Thursday. The Lewisville, Texas-based residential mortgage servicer posted adjusted earnings of $35 million for Q2, which was an increase of 59 percent from Q1. The share of 60-plus day delinquent mortgages in Nationstar's total portfolio declined to 7.4 percent in Q2.