twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to 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

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

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

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

Press Releases
Reports and announcements from

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









site map

FHA News | Government Resources | M o r t g a g e e Letters | FHA Statistics
FHA, VA and HECM mortgage news. HUD and G i n n i e news also. Originations, servicing and FHA approval.

Best Mortgage Lenders By Category

Survey reveals top mortgage firms

Oct. 26, 2018

By Mortgage Daily staff

A report based on a recent survey of consumers who were shopping for a residential loan has identified the best home lenders in a variety of categories -- including government programs, jumbo loans and online services.

The 10-question survey of prospective mortgage borrowers found that before they applied for a home loan, 40 percent checked their credit report or credit score.

Saving for a down payment was cited by 36 percent. More than a quarter reported that they paid down debt, while nearly a quarter indicated they reduced spending.

The results were reported by U.S. News, which conducted the nationwide survey from June 26 through July 1.

The report indicated that U.S. News determined many mortgage shoppers don't spend enough time researching home loans or comparing lenders -- with 41 percent spending less than an hour. But nearly a third spent at least five hours researching a prospective lender.

Similarly, while 46 percent of shoppers obtained just a single quote before choosing a lender, more than half obtained multiple quotes.

Nearly a third of borrowers found their lender based on a company they have already used. A quarter were referred by a Realtor, friend or relative.

The highest-rated home lender for customer satisfaction was -- no surprise -- Quicken Loans Inc. The Detroit-based company has been ranked as the No. 1 mortgage lender for customer satisfaction by J.D. Power for eight consecutive years.

"It processes applications online through a user-friendly system that verifies information quickly," U.S. News said. "Through its Rocket Mortgage platform, you may be able to get a decision on your loan within a few minutes of completing your application. The program offers a full online experience from application to closing and servicing."

Guaranteed Rate Mortgage was rated as the top lender for online services. It's "extensive online mortgage process" enables customers to complete the application and loan documentation online. In addition, if loan documents are digitally signed before the closing, then 10-minute closings are available.

But the report noted that Guaranteed's qualification requirements, including minimum FICO scores and maximum debt-to-income ratios, aren't disclosed -- though online prequalifications are available to check approval and rate.

"We could not gain such industry recognition without our team of incredible loan officers and the agents they work with," Victor Ciardelli, founder and chief executive officer of Chicago-based Guaranteed, said in a written statement. "No other digital mortgage lender has developed such a simple and seamless platform that empowers loan originators to efficiently serve clients and referral partners."

Bank of America Corp.
was rated the top lender for loans insured by the Federal Housing Administration.

The top jumbo lender was San Antonio, Texas-based USAA. The financial institution, which caters to active-duty military members and their families, provides jumbo mortgages up to $3 million. It offers both conventional and Department of Veterans Affairs programs.

While USAA is best at providing jumbo mortgages to military personnel, Veterans United Home Loans was ranked as the best overall provider of VA mortgages -- its specialty.

Among firms that offer small down payment programs, Guild Mortgage Co. was ranked as the top lender.

"Guild Mortgage offers government-backed mortgage products that are available with low down payments, including no down payment USDA and VA loans and FHA loans with 3.5 percent down payments," the report said. "Additionally, conventional mortgages are available with a 3 percent down payment, and jumbo products are available with a down payment as low as 5 percent."

next story

back to current headlines

Mortgage Technology news
Technology news for originators, executives and servicers. Coverage of LOS systems, loan product and p r i c i n g engines and other technology offered to the mortgage industry.

Logout forgot

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


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