Homeowners Increasingly Satisfied With Mortgage Servicers, Study Says

July 31, 2014
Chicago Tribune 
mortgage lending news
Mortgage servicers are redeeming themselves in the eyes of many homeowners -- especially those in danger of delinquency -- reports J.D. Power.

For the second year in a row, the company has documented higher overall satisfaction with the way servicers handle billing, payment processing, and escrow as well as website and telephone contact. Top kudos went to Quicken Loans, followed by Chase, Regions Mortgage, Wells Fargo, and BB&T.

Ocwen, Nationstar, and Green Tree Servicing, however, led the servicers earning low marks in the annual study. Big banks have handed off some of the more challenging loans in their portfolio to these three companies, which may explain their poor performance. "If I am late, delinquent, having trouble making payments, I'm going to be less satisfied with my servicer," notes Craig Martin of J.D. Powers. "They're handling much more complex problems."

Abstract News © Copyright 2008-2013 INFORMATION, INC.
Powered by Information, Inc.

Stay Updated

Join the fight against predatory lending. Enter your e-mail to sign up for breaking news, action alerts, and CRL's original research.

   Please leave this field empty

Help Us End Predatory Lending

Predatory lending destroys family wealth, and preys on our most vulnerable communities. You can help us end abusive lending practices by donating to CRL, or by sharing our work with others.