By Edward Cardenas
DETROIT (CBS Detroit) – Quicken Loans announced Thursday that it was ranked highest in customer satisfaction among home loan servicers included in a study by J.D. Power.
This was the first time Quicken Loans received the award for mortgage servicing, which is the collection and processing of monthly mortgage payments, management of property tax and insurance escrow accounts, as well as other functions related to a client’s mortgage after closing until it is paid off, according to Quicken.
“Our special and unique culture allows our 10,000+ team members to participate in the process of delivering an outstanding experience for all of our clients, every time, without exception,” said Dan Gilbert, Founder and Chairman of Quicken Loans in a release. “Our people are passionate about everything that is related to ‘wowing’ each one of our clients. They look for the inches as well as the ‘big ideas’ that keep us ahead of our competitors. Most importantly, we empower our brainforce to make decisions without the typical stifling and poisonous bureaucracy that is unfortunately found in most large financial institutions in today’s world.”
This recognition comes in Quicken’s first year of being eligible for the honor, and makes Quicken Loans the highest-ranked lender in both major J.D. Power customer satisfaction studies in the mortgage business.
The Detroit-based company has been ranked highest the past four consecutive years in J.D. Powers’ annual primary mortgage origination study.
According to the J.D. Power study, Quicken Loans earned the highest score in three key factors of the home loan servicers study:
- Billing and payment process
- Escrow account administration
“We are obsessed with creating an environment that leverages our team members’ customer experience, their observations and their ability to take their knowledge and turn it into real process improvements for every client that we touch,” said Quicken Loans CEO Bill Emerson said in a release. “In addition, we are driven to communicate with our clients in a manner that brings clarity and simplicity to a very complex, important and otherwise stressful financial transaction. I am proud that we have completed the circle and now are the highest ranked lender in client satisfaction in both mortgage origination and servicing.”