RealtyBizNews - Real Estate Marketing and Beyond
Real Estate Marketing & Beyond
Home » Housing » US Real Estate » Real Estate » Mortgage » Quicken Loans ranked as top mortgage originator again

Quicken Loans ranked as top mortgage originator again

By Mike Wheatley | November 19, 2019

Borrowers say they’re slightly less satisfied with their mortgage originators, and it seems that too much technology might be to blame for it, according to a new study from J.D. Power.

The newly published J.D. Power 2019 U.S. Primary Mortgage Origination Satisfaction Study shows that lenders have been increasingly adding new self-service features to their offerings, partly to make the mortgage application process more convenient for borrowers, and also to help them reduce customer-facing staff numbers. But it could be a case of “too much tech” for some consumers, who believe their mortgage providers are failing to provide the best possible service.

“It is critical that originators get the balance right between tech and staffing to be able to deal with the swings in loan volume that can dramatically change from month to month,” John Cabell, director of wealth and lending intelligence at J.D. Power, said in a statement.

The researchers found that the bulk of the loan origination process work is still being handled manually over the phone and through email, despite the prevalence of various news online tools and mobile apps. Just 15% of consumers said they were using their mortgage provider’s mobile apps, J.D. Power found. But customers generally report higher satisfaction when they’re able to access the status of their loan in real-time via such tools.

As far as the individual providers go, Quicken Loans came out in first place for the 10th year in a row. Fairway Independent was ranked second, while Guild Mortgage Company came in third.

J.D. Power’s 2019 U.S. Primary Mortgage Origination Satisfaction Study measures customer satisfaction based on the following performance factors: application/approval process; communication; loan closing; and loan offerings. The study is based on responses from 4,602 customers who originated a new mortgage or refinanced over the past 12 months.

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at [email protected].
  • Sign up to Realty Biz Buzz
    Get Digital Marketing Training
    right to your inbox
    All Contents © Copyright RealtyBizNews · All Rights Reserved. 2016-2024
    Website Designed by Swaydesign.
    linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram