Quicken Loans, Detroit, which boasts an advertising tag line of "engineered to amaze," managed to do just that for the third year in a row, according to the latest study of origination satisfaction done by J.D. Power and Associates, Westlake Village, California.
In its 2012 US. Primary Mortgage Origination Satisfaction [Study.sup.sm], Quicken Loans earned a score from consumers of 817, which beats the industry average of 761 (on a scale of i,000).
Coming in second in the rankings in 2012 is BB&T (Branch Banking & Trust) with a score of 791, followed by U.S. Bank with its score of 784.
J.D. Power scores originating lenders on four categories of customer satisfaction: the application/approval process; the performance of their loan representative; the closing process; and borrower contact.
The good news in the latest findings for the lending industry is that the overall customer satisfaction rating for the entire origination industry segment went up for the third consecutive year. It...