Customer satisfaction for mortgages that are originated and serviced by the same company rates 646 out of 1,000 but falls to 513 when the mortgage is transferred—and satisfaction in the originating firm drops as well, according to J.D. Power.
Tom Lawler, head of consumer lending intelligence at J.D. Power, said in a press release, “The complexity of the mortgage industry creates challenges in customer understanding, particularly when it comes to mortgage transfers.”