Revealed – Lenders with Highest Customer Satisfaction

Craig Martin, Executive Managing Director and Global Head of Wealth and Lending Intelligence at JD Power, spoke to Mortgage Professional America about the findings. Mortgage companies have done a good job of beefing up their technology and revamping their customer experience, he said, but they are now being overshadowed by the struggle. “The bar has been raised, but no one stands out. In a way, it’s commoditized.”

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Martin noted that given the industry’s downturn, lenders should strive to differentiate themselves as trusted advisors who can guide customers through the lending process while providing valuable advice. . This requires enhanced communication. This means keeping customers informed throughout the loan process and ensuring consistent and effective communication across all channels.

Unfortunately, Martin added, less than one in three customers said their lender was able to provide them with the best possible experience.

“What we’ve seen in the last few years is pressure on interest rates and refinancing,” he said. “All the emphasis on this product sends the message that it’s available everywhere. It’s all about speed and speed. [customers] go: “What’s next?” Consumer demands and expectations are rising. The data shows that many people get the same overall results.

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