By Krista Franks | 08/01/2011
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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By Krista Franks | 07/29/2011
RE/MAX ranked highest for customer satisfaction among both buyers and sellers in J.D. Power and Associates 2011 Home Buyer/Seller Study released this week. On a 1,000-point scale, home buyers rated RE/MAX 805, while home sellers gave the company a rating of 791. Overall satisfaction among home sellers increased from 2010, up to 779 from 742. Overall satisfaction among homebuyers was 797, a slight decrease of six points since the 2010 J.D. Power study.
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By Joy Leopold | 11/18/2010
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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By Carrie Bay | 08/31/2010
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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By Carrie Bay | 07/28/2010
The real estate downturn has sent home prices tumbling, inflated housing inventories, and prompted stimulus programs that have pushed mortgage rates to record lows and given homebuyers tax breaks and cash incentives.
Undoubtedly, it's a buyers' market. A new study released by J.D. Power and Associates Wednesday confirms that with today's bargain-basement market conditions, homebuyers are giving their real estate experiences a thumbs-up. Sellers, on the other hand, aren't nearly as pleased once the deal is done.
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