Rocket Mortgage is the new king of the hill among mortgage servicers, according to J.D. Power’s 2023 U.S. Mortgage Servicer Satisfaction Study.
The company took the top spot from 2022’s champion, New American Funding, which fell several spots in this year’s survey.
The 2023 study surveyed 11,325 homeowners who had been with their current mortgage loan servicer for at least one year. The study evaluated their customer satisfaction based on the following six factors, listed in order of importance:
- Level of trust
- Makes it easy to do business with
- Keeps me informed and educated
- Resolving problems or questions
- Digital channels
Among mortgage servicers, Rocket Mortgage ranks highest in 2023, earning a score of 686 out of 1,000.
The top companies in the survey are:
- Rocket Mortgage: 686
- Guild Mortgage: 668
- Chase: 665
- Bank of America: 662
- Huntington National Bank: 655
- New American Funding: 650
- Regions Mortgage: 650
- CrossCountry Mortgage: 646
- Citizens Mortgage: 632
- Caliber: 630
- U.S. Bank: 623
- LoanDepot: 618
- M&T Mortgage: 615
- United Wholesale Mortgage: 612
- PNC Mortgage: 609
- Fifth Third Mortgage: 602
- Truist: 601
Among the more than two dozen servicers in the survey, the average customer satisfaction score was 601.
Navy Federal Credit Union also earned an above-average customer satisfaction score. At 763, it out-scored Rocket Mortgage. However, J.D. Power notes that the credit union, which serves only military members and their families, was not included in the above ranking because it did not meet the study criteria.
To see how other companies ranked, check out J.D. Power’s 2023 study.
How to get the best mortgage rate
Securing a mortgage can rattle anyone’s nerves. We all want to make the right decisions when choosing something as big — and financially impactful — as a home loan.
Mistakes can be costly, as we noted in “The 6 Worst Mortgage Mistakes You Can Make“:
“Getting an affordable property at a great rate can make you feel as if life couldn’t be any sweeter. But ask anyone who bought a house with a mortgage they didn’t understand and couldn’t afford, and they will tell you the house has brought them frustration and tears.”
One way to shop rates in one stop is to visit Money Talks News’ Solutions Center. There you can search for the best rate on a new mortgage. Or, if you already own a home, search for a great rate on a refinance.