J.D. Power and Associates Reports: Overall Satisfaction With Mortgage ... SYS-CON Media (press release)
WESTLAKE VILLAGE, Calif., Aug. 1, 2011 /PRNewswire/ -- Overall satisfaction with primary mortgage servicers has declined notably from 2010, as frustration continues to mount among homeowners who originated their mortgages during the peak of the housing boom, according to the J.D. Power and Associates 2011 U.S. Primary Mortgage Servicer Satisfaction Study(SM) released today. In addition, brand perceptions of mortgage servicing companies have deteriorated as a result of negative media coverage of reported abuses committed against homeowners by mortgage servicers.
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The study finds that overall satisfaction with primary mortgage servicers has declined to 718 on a 1,000-point scale, down 29 points from 747 in 2010.(1) The study measures customer satisfaction with four areas of the mortgage servicing experience: billing and payment process; escrow account administration; website; and phone contact. Satisfaction has declined across all four factors from 2010.
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