Rocket tops customer ratings but industry sees overall drop

Consumer satisfaction with their mortgage lender lags their opinions on the life, health and property and casualty insurers they do business with, with year-over-year scores for the industry falling.

The American Customer Satisfaction Index 2025 Insurance and Mortgage Lenders Study gives the real estate finance business a score of 74, down 1% from a year ago.

Life companies scored 78% (down 1%), while health (unchanged) and P&C (down 1%) each scored 76%.

The results did find one constant across all four businesses, that their customers want clarity, responsiveness and human interaction when dealing with their chosen provider.

"The true industry leaders are those who meet people where they are and deliver seamless digital solutions without losing sight of the profound reassurance that human interaction provides, especially when it matters most," said Forrest Morgeson, director of research emeritus at the ACSI, in a press release. "The future of insurance and mortgage lending lies in blending technological convenience with personal connection, empowering customers to feel understood and supported through every experience."

Rocket Mortgage had the highest score in the ACSI survey, to 83, a gain of 4%. Bank of America was second at 79, 3% higher, followed by Chase at 78 and Wells Fargo, both unchanged. Citizens Bank, not ranked last year, was next at 73.

Rounding out the list, Freedom Mortgage fell 6% to 68 from 72 a year ago.

The listing had an all others grouping, with a 75 score, unchanged from 2024.

In the most recent J.D. Power servicer study released in July, Rocket scored the highest, followed by Guild, Regions, Chase and B of A. Citizens ranked 14th and Freedom 18th, and all were above the study average of 596.

The 2025 J.D. Power originator survey has not been released yet. In the 2024 survey, Rocket ranked sixth, with Prosperity Home in the top slot.

Most of the customer experience benchmarks the ACSI used for mortgage lenders were ahead of or scored the same versus 2024. The quality of their lender's mobile app scored the highest at 82, unchanged year-over-year, with the reliability of that app receiving an 81 score, up from 80.

The only benchmark to score lower was website satisfaction, slipping to 79 from 81.

The highest scoring non-technology categories were the respondent's view of the ability of their loan officer to explain the process, their opinion of the LOs knowledge and processor responsiveness. All three increased to 78 from 77. Also scoring 78 was the understanding of the next steps in the process, unchanged from a year ago.

An obvious finding was that customers who did not complain (84% of survey respondents) provided a 20-point higher score versus those who needed to, 78 to 58. When it came to how lenders handled complaints, the benchmark fell 8% from the prior survey to 58.

By lender type, credit unions had the highest ASCI score at 78, compared with 74 for banks and 72 for independent mortgage bankers.

Credit union mortgage lenders stand out when it comes to service, particularly with how the LO explains things and their processor's responsiveness, the report said.

"They also outclass banks in terms of fees and costs. Independent mortgage lenders, on the other hand, score well behind banks and credit unions, most notably when it comes to call centers, interest rates, and fee structures," it continued.

For views on mortgage rates, banks had a 76 score, with credit unions and 74 and IMBs at 67. In the fees and costs benchmark, mortgage bankers scored 66, versus 73 for banks and 70 for credit unions.

In a listing of all the industries the ACSI scores, soft drink companies are No. 1 at 84. Mortgage lenders are near the bottom of the listing, tied with airlines, energy utilities, food delivery services and social media and ahead of only internet service providers, the Post Office and subscription TV services.