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.

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/
Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


Regions Loses Best Servicer Title

BB&T ranked best mortgage servicer

Aug. 26, 2010

By MortgageDaily.com staff


The mortgage banking subsidiary of Regions Financial Corp. lost its place at the top of a servicer ranking. Ocwen Financial Corp. Inc. fared poorly in the ranking.

Regions Mortgage was the highest ranking servicer in the J.D. Power and Associates 2009 Primary Mortgage Servicer Satisfaction Study. The Birmingham, Ala.-based firm's 780 Customer Satisfaction Index Ranking was higher than any other servicer's score.

But Regions' score fell to 740 in the 2010 study, ranking it fifth this year.

J.D. Power said it ranks servicers based on fees, billing and payment process and escrow account administration. It also considers Web site and phone contact.

It surveyed 4,516 borrowers between May and June.


Taking Region's No. 1 spot this year was BB&T with a score of 795. The Winston-Salem, N.C.-based company, which acquired failed Colonial Bank from the Federal Deposit Insurance Corp. in August 2010, ranked second last year with an index of 777.

SunTrust Mortgage moved to No. 2 this year. SunTrust's score was 767, up from 740 a year ago.

No. 3 U.S. Bank came in with a score of 755, followed by Wells Fargo's 744. Fifth Third Mortgage's 740 left it sharing the fifth spot with Regions.

The lowest score in the 2010 ranking was Ocwen Loan Servicing's 551. American Home Mortgage Servicing and OneWest also ranked low with respective scores of 617 and 619.

J.D. Power advised servicers to focus on preventing problems during the servicing process, which it says will reduce the number of inbound borrower contacts.

"Focusing on performing best practices, such as providing transparency around fees, using the customer's preferred method of billing and payment, and providing concise, informative, and easy-to-find account information, not only has a strong positive effect on loyalty and retention rates, but can also result in decreases in inbound call volume of up to 13 percent," J.D. Power Director of Financial Services David Lo said in the report.

The report said "servicers more often miss on delivering key service practices during the loan modification process than during the loan origination process."

next story

back to current headlines


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