1. Home
  2. Blog
  3. QL In The News
  4. Quicken Loans Receives Back-to-Back J.D. Power Awards for Mortgage Servicing

As of June 25, 2018, we’ve made some changes to the way our mortgage approvals work. You can read more about our Power Buyer ProcessTM.

Quicken Loans Wins Back-To-Back J.D. Power Awards for Mortgage Servicing - Quicken Loans Zing Blog

As of December 19, 2017, MyQL is now referred to as Rocket Mortgage.

J.D. Power has ranked Quicken Loans highest in customer satisfaction in Primary Mortgage Servicing in the U.S.* for the second straight year. In addition, J.D. Power has ranked us highest in customer satisfaction in Primary Mortgage Origination five years in a row.

You’re probably thinking, “That’s cool, but what’s mortgage origination? What’s servicing? What’s the big deal with these two awards?”

Origination refers to the process of getting your mortgage, from your initial application to the closing of your loan. Servicing refers to the process of collecting and applying your monthly payments. If you have an escrow account (most people do), the servicer also collects your tax and insurance payments over the course of the year and holds those funds in this account. When these bills are due, the servicer pays them in a lump sum for you.

Your mortgage servicer is also a helpful resource. If you ever have trouble making your payment, give them a call. They may be able to help work out a payment plan to keep you from falling further behind. Everyone wants to see you stay in your home for a long time.

J.D. Power ranks servicers in the following subcategories:

  • Billing and payment process
  • Fees
  • Administration of escrow accounts (taxes and insurance)
  • Interaction
  • Communication
  • New customer orientation

Not only does Quicken Loans hold the highest rank overall, but we have the top rank in each category.

We’re excited because these awards validate all the hard work being done by our people, the best in the mortgage business. It also tells our clients that when they go with Quicken Loans they can feel confident they made the right decision.

While we’re flattered by the honor, we don’t do it for the accolades. We merely strive to provide you with the highest possible level of service, whether you’re applying, getting ready to close, or about to make that last payment on your 30-year fixed.

It’s easy to say these things, but let’s talk a little bit about what that means for you, our clients.

The Experience

When you apply with Quicken Loans, you can do so in whatever way you feel comfortable. If you prefer to get started on the phone, we can do that. If you want to talk online, we can do that as well. Client comfort is important throughout the process.

However you choose to apply, we’ll hook you up with a team of Home Loan Experts that will guide you through the process and be able to answer all your questions along the way.

We also have some of the best technology in the business. When you’re setting up your mortgage, you can check the status and upload documents through MyQL. When you get ready to make an offer on a house, you have the ability to print out and adjust your preapproval amount based on what you qualify for and what you want to pay. We make it easy to stay on top of the whole process.

Our commitment to you doesn’t stop when you close the loan. If we see that you could benefit by refinancing, we’ll reach out and provide you with a mortgage review.

Shortly after all the paperwork is signed, you get your first billing statement. We give you the option to pay in whatever way is easy and convenient for you. You could send in a check with the bill. You could also use MyQL to pay online or set up recurring payments.

If you want to make your payment person-to-person over the phone, our team is more than happy to take your call.

You’ll also be able to see the way taxes and insurance are affecting your bill. Each year, we send an easy-to-understand escrow analysis.

More important than any bill, however, is our continued relationship with you. Your home is where you watch your kids grow up, where people gather, where you go to relax at the end of a long day. We take pride in helping people achieve the dream of homeownership.

Life has the tendency to deal us all kinds of surprises, good and bad. If something ever comes up and you have trouble making your mortgage payment for a month, call us. We’ll take a look at your situation and see if there’s anything we can do for you.

Whether your problem is financial or technical in nature, or you need to make a change to your account, we can usually take care of it in one phone call.

We don’t expect you to take our word for it. You don’t even have to take J.D. Power’s word for it. Just ask our clients: 95% of our closed clients would recommend us to friends and family.**

We’re happy to have received the award, but we’re even happier that it came from you, our clients. For us, you’re really what this whole thing is about.

For more information on the J.D. Power Mortgage Servicing award, check out the press release here.

*Quicken Loans received the highest numerical score in the proprietary J.D. Power 2014 Primary Mortgage Origination Study℠ and the J.D. Power 2015 Primary Mortgage Servicer Study℠. 2014 Origination study based on 3,393 total responses measuring 12 lenders and measures opinions of consumers who originated a new mortgage. 2015 Servicing study based on responses from 5,922 consumers measuring 20 companies and measures the satisfaction of consumers with their current mortgage servicer. Proprietary study results are based on experiences and perceptions of consumers surveyed in July – September 2014. Your experiences may vary. Visit JDPower.com.

**Based upon a Quicken Loans market research questionnaire of clients whose loans closed between 1/1/2014 and 10/30/2014.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *