Rocket Mortgage Ranked #1 in the U.S. for Client Satisfaction in Mortgage Servicing by J.D. Power for the 9th Time
The company has earned 21 total accolades from J.D. Power – including 12 top rankings for mortgage origination – the most of any home lender.
DETROIT, July 27, 2023 /PRNewswire/ -- Rocket Mortgage, America's largest retail mortgage lender and part of Rocket Companies (NYSE: RKT), was today named #1 for client satisfaction in mortgage servicing by J.D. Power. This is the ninth time Rocket Mortgage has topped this prestigious list, which is entirely based on client feedback collected by the independent research firm.
"Many homebuyers don't think twice about who will service their mortgage when they apply for a home loan but, with a mortgage lasting as many as 30 years, their servicer can make a huge difference," said LaQuanda Sain, Executive Vice President of Servicing at Rocket Mortgage. "We see mortgage servicing as a long-term relationship, and we take the responsibility that comes with that relationship very seriously."
In addition to overall client satisfaction, J.D. Power's study ranked Rocket Mortgage number one in the following categories:
- Digital Channels
- Easy to do Business With
- Keeps Clients Informed and Educated
- Resolving Problems or Questions
Mortgage servicing is the important role of managing a homeowner's loan from closing until it is paid off. Servicers collect mortgage payments, pay taxes and insurance on the client's behalf through an escrow account and solve any issues that may arise including recovering from natural disasters or finding solutions for clients facing financial hardship.
Most recently, Rocket Mortgage's award-winning Servicing Team took a compassionate, hands-on approach to helping its clients when Hurricane Ian hit the U.S. in September. The team supported more than 100,000 homeowners impacted through 24/7 online self-serve resources, extended hours when clients could call servicing team members along with proactive messaging sent to homeowners. In fact, 59% of clients in a Federal Emergency Management Agency (FEMA)-declared area successfully obtained a forbearance completely on their own using the digital Rocket Mortgage Servicing platform.
The company's industry-leading mortgage servicing is a large driver of Rocket Mortgage's 96 percent client retention rate – as of the first quarter of 2023. Homeowners trust the superior client service and are more likely to stay with Rocket. The company believes its retention rate is unmatched among mortgage companies and on par with some of the best-performing subscription business models in the world.
Rocket Mortgage had a portfolio of more than 2.5 million clients with a total of $524.8 billion in serviced loans – as of the end of Q1 2023.
About Rocket Mortgage
Detroit-based Rocket Mortgage is the top retail mortgage lender, closing more mortgage volume than any other lender in 2022, and is a part of Rocket Companies (NYSE: RKT). The lender enables the American Dream of homeownership and financial freedom through its obsession with an industry-leading, digital-driven client experience. In late 2015, it introduced the first fully digital, completely online mortgage experience. Since its founding in 1985, Rocket Mortgage has closed more than $1.6 trillion of mortgage volume across all 50 states.
Rocket Mortgage is ranked highest in the country for client satisfaction in mortgage origination and servicing by J.D. Power. Rocket Companies, Rocket Mortgage's parent company, ranked #11 on Fortune's list of the "100 Best Companies to Work For" in 2022 and has placed in the top third of the list for 20 consecutive years.
For more information and company news visit RocketCompanies.com/PressRoom.
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SOURCE Rocket Mortgage