Prosperity Home Mortgage must be doing something right.
The mortgage banker, a subsidiary of HomeServices of America, a Berkshire Hathaway affiliate, was ranked No. 1 this past year in J.D. Power’s annual mortgage origination satisfaction survey.
The Fairfax, Virginia-based company earned a score of 772 on the ranking. Movement Mortgage came in No. 2 with a score of 761. Bank of America ranked third with a score of 760. That’s based on a 1,000-point scale.
“Our No. 1 ranking by J.D. Power is so meaningful because it reflects our customers’ trust and satisfaction in Prosperity and our people,” said Justin Messer, CEO of Prosperity. “While we’ve fully digitized and streamlined the mortgage process, our team has never lost sight of the fact that buying or refinancing a home remains a very human process. By combining best-in-class, trusted advisors with a seamless digital experience, we have created the most satisfying customer experience in the mortgage industry.”
Overall customer satisfaction with mortgage lenders was 727, down 3 points from a year ago when mortgage customer satisfaction surged 14 points year over year.
In the past year, mortgage lenders have noticeably trimmed their staffing levels, making it more challenging to deliver the same level of highly personalized customer service that drove the gains in customer satisfaction a year ago, said Bruce Gehrke, senior director of wealth and lending intelligence at J.D. Power, in a statement.
“Consistently, we’re seeing that lenders that play an active advisory role in helping their clients navigate the current market are earning significantly higher customer satisfaction, loyalty and advocacy scores than those that are treating mortgage lending as a transactional process,” Gehrke said.
The survey measures overall customer satisfaction based on performance in six factors (in alphabetical order): communication; digital channels; level of trust; loan offering meets my needs; made it easy to do business with; and people.
The 2024 study was fielded from August 2023 through September 2024 and is based on responses from 7,534 borrowers who originated a new mortgage or refinanced within the past 12 months
