SunTrust Tops J.D. Power Servicer Rankings

SunTrust Mortgage ranked highest in overall customer satisfaction among national mortgage servicing companies in the inaugural J.D. Power and Associates Primary Mortgage Servicer Study.Based on more than 9,200 responses from home mortgage customers across the United States, the study found that World Savings Bank ranked second, followed by Bank of America and Countrywide Home Loans, according to J.D. Power. The Westlake Village, Calif.-based firm said the study measured performance in four areas: billing, payment, annual account review/administration, and customer-initiated interaction. "With climbing interest rates suppressing refinance activity, customer recommendations to others has become even more vital to mortgage lending companies," said Jeremy Bowler, senior director of the finance and insurance practice at J.D. Power. "Throughout our research, we find that customers who are satisfied with their lender are considerably more likely to offer a personal referral to a friend, co-worker, or relative, illustrating the strong relationship between customer satisfaction and long-term customer value." J.D. Power can be found on the Web at http://www.jdpower.com.