In the past three years, customer satisfaction had increased each year hitting a six year high in 2012, according to J.D. Power and Associates.
J.D. Power's Primary Mortgage Origination Satisfaction Survey showed the level of overall customer satisfaction hit 761 out of 1,000 in 2012. This was up from 747 in 2011, and 734 in the year prior to that.
Lenders have improved their communication and have been more transparent, which has led to the higher levels of satisfaction.
"Given the recent challenges across financial services, the highest-performing lenders in the 2012 study have reduced customer uncertainty and apprehension with greater transparency and communication regarding what to expect in the origination process," said Craig Martin, director of the mortgage practice at J.D. Power and Associates.
Mortgage lenders have seen an influx of mortgage applications this year, as mortgage rights have hovered around record lows. Despite the higher volume, lenders have been able to improve their customer satisfaction, which is a good sign for the future of the mortgage market.
