Customer satisfaction with mortgage servicing has dropped considerably, scoring 596 on a 1,000-point scale, a decline of 10 points from the previous year. This downturn contrasts sharply with increased satisfaction in mortgage origination, which reached 727. Communication deficiencies are highlighted, as only 31% of customers find servicer messages engaging. Personalization in communication improves perception, yet high satisfaction rates for overall communication decreased to 32%. Economic factors contributing to customer dissatisfaction include high rates, declining volumes, and the struggle for servicers to engage effectively with customers.
Customer satisfaction scores for mortgage servicers have declined to 596 out of 1,000, indicating a drop of 10 points from the previous year. Satisfaction with servicers has decreased across all areas of measurement.
The study reveals a significant disconnect in the mortgage customer journey, showing that while satisfaction with mortgage origination is at an all-time high at 727, satisfaction with servicing remains critically low.
Only 31% of mortgage customers feel that their servicer's messages are engaging, highlighting communication gaps that affect overall satisfaction levels.
Personalized communication improves customer satisfaction, yet only 32% of customers rated their servicer's overall communication highly, showing a decline from the prior year.
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