For the second year in a row, Winston-Salem's BB&T Corp. ranked first in a national survey of customer satisfaction with mortgage servicers, according to data released Tuesday by J.D. Power and Associates. But the survey, based on responses from more than 10,000 homeowners, also found that customer satisfaction overall with mortgage servicers had declined over the year, due to increased billing errors and more service “hands off,” the survey said. Customers also cited late payments – on their own end – as a factor in the lower satisfaction levels.
Charlotte's Bank of America Corp. again ranked above average, as did Wachovia Corp., after ranking one point below average last year. Countrywide Financial Corp., a California lender known for exotic mortgages, ranked below average for customer satisfaction. It ranked above average in 2007 and 2006. Bank of America purchased Countrywide earlier this summer.
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J.D. Power also releases a yearly survey on mortgage originators.