Industry NewsMortgage

JD Power rates mortgage servicers

Lenders score points for intiating contact

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Loan servicers score higher marks for customer satisfaction when they initiate contact with borrowers, which can help them win repeat business and referrals from those clients, according to a survey by JD Power and Associates.The survey of 5,000 homeowners, taken in May, found one in five borrowers was either behind on their payments or worried that they would be in the future.Not surprisingly, the survey found customer satisfaction declines when borrowers are delinquent or at risk. But when mortgage servicers initiated contact with troubled borrowers, satisfaction averaged 651 on a 1,000-point scale, compared with 613 when borrowers contacted their servicer on their own.Among customers who said their servicer helped them deal with their current situation, 21 percent said they would definitely use the servicer again. Only 1 percent who found their servicer was not helpful would use that company again, the survey found.The 2009 Primary Mortgage Servicer Satisfaction Study identified fiv...