Aug. 27, 2007 - Mortgage lenders could be more flexible

J.D. Power conducts study on mortgage lenders

J.D. Power conducted a survey of more than 11,400 home owners to determine customer satisfaction of national mortgage lenders.  The information was gathered November 2006, February 2007 and May 2007

The study measured customer satisfaction with the process of servicing a loan based on four primary areas: the administration of the customer’s account; the billing process; the payment process; and the process of contacting the mortgage servicer.

The results indicated that lending institutions are less flexible with late payments than they were a year ago. It was also found, that customers felt that lenders were less understanding of their unique circumstances when payments were late.

Based upon a total scale of 1,000 points, the top 20 national lending institutions stack-up in the following order:

BB&T (Branch Banking and Trust) 860
M & T Mortgage 828
Citizens Bank 825
Countrywide Home Loans 824
SunTrust Mortgage 822
First Horizon Home Loans 818
Wells Fargo 817
GMAC Mortgage 816
Regions Mortgage 807
CitiMortgage 805
Chase 804
Bank of America 803
Washington Mutual 798
Industry Average 798
Wachovia 797
Fifth Third Bank 790
U.S. Bank 788
World Savings 787
PHH Mortgage 786

For the complete list and more information on home mortgage customer satisfaction visit JDPower.com