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Tag Archives: BB&T

Servicer Satisfaction Decreases Significantly in 2011

Consumers' overall satisfaction with primary mortgage servicers has decreased significantly since 2010, according to the results of a study released by J.D. Power and Associates Monday. Overall satisfaction fell from 747 in 2010 to 718 in 2011. J.D. Power and Associates measures customer satisfaction on a 1,000-point scale, taking four areas of servicing into consideration: billing and payment process; escrow account administration, phone contact, and website. A decline was present in all areas.

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J.D. Power and Associates Survey Shows Borrower Satisfaction Declining

A study released Thursday by J.D. Power and Associates shows that the time from submission of a mortgage application to approval time has increased by more than a week when compared to a year ago, despite changes in RESPA guidelines intended to streamline the process. J.D. Power says this longer timeline has had a negative impact on borrower satisfaction. The nation's largest mortgage lenders - BofA, JPMorgan, and Citi - ranked lowest in the firm's customer satisfaction survey.

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Servicers Fail to Deliver on Loan Mod Best Practices: J.D. Power

U.S. consumers are less satisfied with their experience during the loan modification process than they are during loan origination, namely because mortgage servicers are missing the mark when it comes to delivering on best practices, according to J.D. Power and Associates. The company's survey found that mortgage servicers fail to adhere to a time frame for approval, don't provide the customer with status updates, and repeatedly ask borrowers for the same information. BB&T ranks highest in customer satisfaction among mortgage servicers.

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