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Best and worst mortgage servicers

By Polyana da Costa · Bankrate.com
Friday, July 19, 2013
Posted: 10 am ET

Homeowners have grown more satisfied with their mortgage services compared to last year, according an annual study by J.D. Power.

The study is based on responses from more than 4,600 customers and measures how satisfied mortgage borrowers are with their servicers in four categories.

  • Billing and payment process.
  • Escrow account administration.
  • Servicer's website.
  • Phone contact.

Overall satisfaction in these categories was 733 on a 1,000-point scale. That's up from 725 last year.

This is the second year in a row the study shows improvements in borrowers' satisfaction, says Craig Martin, director of the mortgage practice at J.D. Power. Prior to last year, satisfaction had declined each year since the financial crisis of 2008.

Changes mandated by the National Mortgage Settlement and new regulations imposed by the Consumer Financial Protection Bureau seem to be contributing to improve the relationship between borrowers and mortgage servicers, Martin says.

"Lenders are doing a much better job and getting more effective in their communication with borrowers," Martin says.

The servicers that ranked the highest on the survey are:

  • BB&T.
  • Regions Mortgage.
  • SunTrust Mortgage.

The servicers with the lowest rankings are:

  • EverHome Mortgage.
  • Ocwen Loan Servicing.
  • Nationstar Mortgage.

Are you happy with your mortgage servicer? Where would you like to see improvement?

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126 Comments
Todd Spengo
July 28, 2013 at 7:50 pm

SunTrust is terrible we had them, and got hosed as youngsters.

Cynthia
July 28, 2013 at 7:34 pm

I'm not surprised at Everhome listed as the worse because they are!!

Lori
July 28, 2013 at 7:32 pm

If you or a parent has been in the military, try USAA not only for insurance, but for a mortgage. We've been through so many mortgage companies over the past 25 years, and they are by far the best we've ever had.

Mike
July 28, 2013 at 7:20 pm

My mortgage was moved to OCWEN 5 months ago. From the onset, they have been sending my mail to an address that I haven't lived at for 10 years. I have tried every month since then to get it switched with no luck. Really?.....The correct address is already listed right on the bill, just not as the mailing address.

Louis Wein
July 28, 2013 at 6:46 pm

Just be thankful you don't get sold to one I have, Select Portfolio Services, which seems to be a collection outfit cashing in on the servicing business!

Jan
July 28, 2013 at 6:02 pm

Any info out there about Roundpoint??? I'd like to know more about them .. are they just buying paper from mortgage companies at pennies on the dollar and then trying to collect the whole debt?

Laura
July 28, 2013 at 4:21 pm

The worst company I feel ia Beneficial Finance or Household Finance they are out of Bradon Florida.. I have a loan Modifation with them They are terrible to answer questions They do not send payment statemnents, but they want their money. They are really really hard to deal with . They are also on the internet with scammes against them.. I hope i can keep my home. I am still waiting for julys payment statement. It is now July 28 and no sign of it ..

travelertraveler
July 28, 2013 at 3:21 pm

Bank of America sold my mortgage to Nationstar. I was so nervous that something horrible would happen with them at some point in the future, that I refi'd to a financial institution I trust, that doesn't sell their mortgages. Of course I also got a better interest rate...so that wasn't my only reason to refi...but I feel much more secure now with my mortgage.

John
July 28, 2013 at 3:18 pm

Another sold mortgage out of my control.... I refinanced mortgage (for lower interest rate)and the BROKER (note to self: never use broker again! Never!!!) and like others... it was sold to NATIONSTAR ! Who the f--- are they? I knew it would be sold, but did not think it would be sold to an "unknown" garage in another country banker ! I could just puke after reading others notes about NATIONSTAR ! My nightmare has just begun. Oh, my credit score is * excellent * (for now).

Deborah
July 28, 2013 at 2:44 pm

THE WORST EVER....CITIMORTGAGE!

Terrible customer service and communication! Do not go there! I'm trying to get my homeowner's insurance escrow removed since I paid directly to the insurance company...been waiting almost 4 mos. for CitiMortgage figure this out! Numerous calls and correspondence to no avail! Sent letter over two weeks ago, still haven't heard a thing!

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