Quicken Loans earns top servicer spot in J.D. Power study…again

Ranked No. 1 in six categories

Quicken Loans earned the top spot in J.D. Power’s 2016 Primary Mortgage Servicer Satisfaction Study for the third consecutive year.

The survey measures customer satisfaction with the mortgage servicing experience in six factors: new customer orientation, billing and payment process, escrow account administration, interaction, mortgage fees and communications. It is based on responses from 7,542 customers who have had a mortgage on their primary residence for at least one year.  

Last year, the company topped the rankings, with a score of 834 on a scale of 1,000, and the year before that, which was its first year of eligibility, Quicken Loans also ranked in the No. 1 spot for servicer satisfaction, with a satisfaction score of 835.

This year, Quicken Loans once again improved and beat out its past scores with a new high of 850.

“We refer to those who we help as clients, not customers, for a reason,” said Dan Gilbert, Quicken Loans founder and chairman. “Too often, mortgage companies view their interaction with a client simply as a transaction, versus a relationship dedicated to assisting the client for the life of their loan.”

“Our passionate team members know the connection with our clients extends far beyond origination, and they obsess every day to make sure all of our serviced clients have the best possible experience,” Gilbert said.

Huntington National Bank moved higher into second place, with a ranking of 828, giving Quicken more competition than it had last year.

Regions Mortgage ranked third with a score of 810, an improvement of 77 points from last year.

Additionally, Quicken Loans ranked No. 1 in all six areas of the study, according to a release by the mortgage lender.

The company’s clients rated it 26% higher than the industry average for innovation, 22% higher for being customer-driven and 18% higher for being friendly.

“It is a collective effort that leads to repeated client service honors,” Quicken Loans CEO Bill Emerson said.

Here are the top-rated mortgage servicers:

  • Quicken Loans – 850
  • Huntington National Bank – 828
  • Regions Mortgage – 810
  • TD Bank – 808
  • Citizens – 799
  • Chase – 781
  • Capital One – 780
  • Caliber Home Loans – 778
  • Flagstar Bank – 778
  • SunTrust Mortgage – 776
  • Branch Banking & Trust – 769
  • Wells Fargo Home Mortgage – 768
  • U.S. Bank – 767
  • Central Mortgage Company – 759
  • PNC Mortgage – 755
  • Fifth Third Mortgage – 754
  • CitiMortgage – 753
  • Bank of America – 741
  • PennyMac – 735
  • RoundPoint Mortgage Servicing – 730
  • M & T Mortgage – 725
  • Freedom Mortgage Corp. – 714
  • PHH Mortgage – 713
  • Nationstar Mortgage – 674
  • HSBC – 672
  • Ditech Financial – 657
  • Ocwen Loan Servicing – 650

J.D. Power simultaneously released a survey on mortgage servicers, finding that those who invest in one overlooked area, the customer experience, can recapture their investment as well as increase profits and raise customer satisfaction. Click here to see tips on what servicers can do to increase customer satisfaction.

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