home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.


Best Mortgage Companies

J.D. Power origination study

December 12, 2007

By MortgageDaily.com staff


An annual study of mortgage originators identified the best companies and found that borrowers are more satisfied when dealing with a direct lender than with a mortgage broker or online lead generation company.

The 2007 Primary Mortgage Origination Study was conducted by J.D. Power and Associates on 4,378 borrowers who closed on their mortgages between September 2006 and August 2007, according to an announcement today.

The report analyzed customer satisfaction with application approvals, interaction with loan representatives, loan closings and problem resolution.

Based on a scale of 1,000, overall satisfaction was 750, J.D. Power said. The level of overall satisfaction was little changed from 2006.

"While it's true that borrowers with weaker credit and those seeking larger 'jumbo' loans experience longer approval times and requests for more documentation, satisfaction has remained steady among the 75 percent of mainstream borrowers with good credit applying for moderately sized loans," Tim Ryan, J.D. Power's senior director of the mortgage practice, said in the announcement.

With a score of 827, Wachovia ranked highest among primary mortgage lenders, the report indicated. Among the factors helping the Charlotte, N.C.-based company place at the top of the ranking was its closing process.

SunTrust ranked second with a score of 818, followed by Bank of America, which scored 760, J.D. Power said. Next was National City Mortgage at 759; CitiMortgage/Citibank, with a score of 753; Chase, which scored 752; and Wells Fargo, which came in at 749. Rounding out the top 10 were Countrywide Home Loans, at 745; GMAC Mortgage, with a score of 744; and Citi subsidiary ABN AMRO Mortgage, which came in at 740.

American Home Mortgage Corp., which has shut down origination operations and filed for bankruptcy, ranked No. 11 with a score of 736, the statement said.

J.D. Power indicated that a growing share of prospective borrowers who work directly with mortgage lenders instead of mortgage brokers or online lead generators have more positive experiences, faster turnarounds and fewer problems.

The report said mortgage lenders must provide clear communication about the loan process and approval time. In addition, they should ensure the accuracy of applications, closing cost estimates and mortgage payments.

Mortgage Leads | Lead Directory
Loan leads for originators, brokers and loan officers. News about lead companies that provide exclusive refinance leads. Stories about mortgage lead generation techniques.


Mortgage Broker News | Originator Newsletter
Stories about mortgage brokering and broker programs. Profiles of successful mortgage brokers. Articles about mortgage brokers who excel at other activities. Broker lawsuits and criminal broker activity.



SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders