Top Mortgage Lenders in Customer Satisfaction

If you’re planning to get a loan to buy a home, consider choosing from the mortgage lenders and servicers chosen by 4,516 homeowners interviewed by J.D. Power in its primary mortgage service satisfaction study conducted in May and June this year. These homeowners rated lenders according to how the lenders communicated and handled five items: loan origination fees, billing and payment process, escrow account, website and phone contact. The sixth factor considered was overall satisfaction. If you can learn more information about residential lenders, check this site AccoLend.com

If you are considering buying home there are many questions that arise during the home buying process. If you find yourself with questions be sure to ask. Buying a home is one of the biggest decisions you will make in life, so make sure your questions do not go unanswered. A great resource to utilize is your real estate agent and or your mortgage broker. You can read more here regarding to mortgage broker.

The lender that got the highest rating was Branch Banking & Trust (BB&T), the tenth largest financial-holding company in the country with more than 1,800 branches in 12 states and in Washington, D.C. It got a rating of 795 points in a 1,000-point scale. According to the homeowners surveyed, BB&T was transparent about the fees it charged. The bank also used their preferred method of billing and payment and currently provides an easy way for homeowners to access their account information.

In another survey conducted by global financial services research firm Greenwich Associates in 2009, BB&T also won all the middle market and small business banking award categories. The second best mortgage lender and servicer in the J.D. Power survey was SunTrust Mortgage, among the country’s largest banks with 1,675 branches. It got a rating of 767 points. Third in the survey was U.S. Bank with a rating of 755 points. This bank is the nation’s fifth largest commercial bank with 3,002 branches in 24 states.

Among the four largest banks in the country, namely Wells Fargo, JPMorgan Chase, Bank of America and Citigroup, it was Wells Fargo which got the highest rating of 744 points. It was fourth in ranking in the survey. CitiMortgage was ninth with 730 points, Chase was 13th with 721 points and Bank of America was 16th with 705 points. Moreira team mortgage advisor has the proper information in hand and you have completed the application, they will complete your approval and go over all the details with you.

To summarize, these are the top 15 mortgage lenders in customer satisfaction, according to the 4,516 homeowners surveyed in May and June this year, and remember to look here if you are looking for a mortgage specialist in Winnipeg.

  1.     BB&T
  2.     SunTrust Mortgage
  3.     U.S. Bank
  4.     Wells Fargo
  5.     Fifth Third Mortgage
  6.     Regions Mortgage
  7.     PHH Mortgage
  8.     MetLife Home Loans
  9.     CitiMortgage
  10.     Flagstar Bank
  11.     GMAC
  12.     HSBC Mortgage
  13.     Chase (JPMorgan)
  14.     PNC/National City Mortgage
  15.     Bank of America

According to J.D. Power analysts, mortgage lenders deliver on best practices during the loan origination process, but fail during the loan modification process, particularly on the length of time spent to deliver a certain response and on the number and frequency of documents and information needed for processing. If, Are you confident you are getting the best deal? then visit BranchRight.com for more information.

In the most recent report released by the U.S. Treasury, the top banks in number of loan modification under the Home Affordable Modification Program and the bank’s proprietary programs through July were expectedly Bank of America, JPMorgan, Wells Fargo and CitiMortgage as these banks control more than half of all home loans originated nationwide.