Scotsman Guide > News > July 2018 > News Story

 Enter your e-mail address and password below.


Forgot your password? New User? Register Now.

News Archives

Subscribe icon Subscribe to our weekly e-newsletter, Top News.

Mortgage servicers need a digital boost, survey shows

Client satisfaction with mortgage servicers remained flat despite heavy investments in recent years in technology.

That’s according to a just-released J.D. Power 2018 Primary Mortgage Servicer Satisfaction Study.Mortgage application

The servicer average for overall satisfaction was 758 (on a 1,000-point scale). That is essentially unchanged from 2017 and 2016, when scores came in at 754 and 755, respectively.

The mortgage industry has made “bold investments in new technology” but servicing still has a long way to go, said Craig Martin, senior director of the Mortgage Practice at J.D. Power, in a news release.

Martin said digital technology is a crowd pleaser, but adoption in the industry has been slow. Only 20 percent of mortgage-servicer customers are utilizing mobile technology, for instance.

That’s down 2 percent from 2016, even though mortgage-servicer mobile customers report higher satisfaction levels and are more likely to be brand promoters than non-mobile customers.

“Customer expectations are increasing, often influenced by their day-to-day experiences, but servicing is not keeping up,” Martin said. “Servicers not only have to decipher the services that provide the most value to existing and new customers, but they also must solve how best to engage customers.”

He predicted that as customers use technology more, there will be improved experience and cost savings.

“There is a lot of room for improvement,” Martin said.

The study also found that account alerts, common in the average consumer’s daily life, are relatively underutilized in the mortgage industry. Half of the homeowners surveyed said their mortgage servicers did not have account alerts or were unaware of the alerts if they were available.

Of those that do use alerts, satisfaction is highest among individuals who receive text-message alerts (840), followed by secure messages on the servicer’s website (834) and e-mail alerts (810).

Quicken Loans ranked the highest among mortgage servicers for the fifth-consecutive year, with a score of 857. TD Bank ranked second at 821, with the largest year-over-year improvement. Huntington Banks ranked third at 819.

The study measured six factors: new customer orientation, billing and payment process, escrow-account administration, interaction, mortgage fees and communications.

Conducted in March and April, the study is based on responses from 7,776 individuals who received a new mortgage or refinanced within the past 12 months.

Questions? Contact Editor Jim Davis at (800) 297-6030 or


Questions? Contact at (425) 984-6017 or

Get the latest news and articles from Scotsman Guide straight to your inbox.

Send me the following e-mails:

Learn more about Scotsman Guide e-mails

Thank you for signing up to receive e-mails from Scotsman Guide.

A confirmation e-mail has been sent to the address you provided.

For questions regarding your e-mail subscriptions please contact or call (800) 297-6061.

Fins A Lender Post a Loan
Residential Find a Lender Commercial Find a Lender
Follow Us:Visit Scotsman Guide Facebook pageVisit Scotsman Guide LinkedIn pageVisit Scotsman Guide Twitter page


© 2019 Scotsman Guide Media. All Rights Reserved.  Terms of Use  |  Privacy Policy