DETROIT, July 31, 2014 /PRNewswire/ -- Quicken Loans, the nation's 2nd largest retail mortgage lender, and a top-10 mortgage servicer, was today ranked highest in customer satisfaction among home loan servicers included in a study by J.D. Power, a global marketing information services company.
The award is Quicken Loans' first for mortgage servicing – the collection and processing of monthly mortgage payments, management of property tax and insurance escrow accounts, as well as other functions related to a client's mortgage after closing until it is paid off. This recognition comes in the company's first year of being eligible for the honor.
The top servicing ranking makes Quicken Loans the highest-ranked lender in both major J.D. Power customer satisfaction studies in the mortgage business as the company has been ranked highest the past four consecutive years (2010 through 2013) in J.D. Powers' annual primary mortgage origination study.
"Our special and unique culture allows our 10,000+ team members to participate in the process of delivering an outstanding experience for all of our clients, every time, without exception," said Dan Gilbert, Founder and Chairman of Quicken Loans. "Our people are passionate about everything that is related to 'wowing' each one of our clients. They look for the inches as well as the 'big ideas' that keep us ahead of our competitors. Most importantly, we empower our brainforce to make decisions without the typical stifling and poisonous bureaucracy that is unfortunately found in most large financial institutions in today's world."
Quicken Loans began servicing the loans it originates in 2010 and has rapidly increased its servicing to today's nearly $150 billion portfolio.
The company focuses heavily on technological solutions to create and enhance a client-friendly experience on both desktop and mobile applications and devices.
According to the J.D. Power study, Quicken Loans earned the highest score in three key factors of the study:
- Billing and payment process
- Escrow account administration
"We are obsessed with creating an environment that leverages our team members' customer experience, their observations and their ability to take their knowledge and turn it into real process improvements for every client that we touch," said Quicken Loans CEO Bill Emerson. "In addition, we are driven to communicate with our clients in a manner that brings clarity and simplicity to a very complex, important and otherwise stressful financial transaction. I am proud that we have completed the circle and now are the highest ranked lender in client satisfaction in both mortgage origination and servicing."
Since 2010, Quicken Loans has moved its headquarters to downtown Detroit. More than 12,500 Quicken Loans and its family of companies' team members work out of the organization's campus in the urban core of the Motor City.
About Quicken Loans
Detroit-based Quicken Loans Inc. is the nation's second largest retail home mortgage lender. The company closed a record $80 billion of volume across all 50 states in 2013. Quicken Loans generates loan production from web centers located in Detroit, Cleveland and Scottsdale, Arizona. The company also operates a centralized loan processing facility in Detroit, as well as its San Diego-based One Reverse Mortgage unit. Quicken Loans ranked "Highest in Customer Satisfaction among with Primary Mortgage Origination" in the United States by J.D. Power for the past four consecutive years (2013, 2012, 2011 and 2010), and highest in customer satisfaction among all mortgage servicers in 2014.
Quicken Loans was named among the top-30 companies on FORTUNE magazine's annual "100 Best Companies to Work For" list for the last 11 consecutive years, ranking #5 in 2014. It has been recognized as one of Computerworld magazine's '100 Best Places to Work in IT' the past ten years, ranking No. 1 in 2014, 2013, 2007, 2006 and 2005. The company moved its headquarters to downtown Detroit in 2010, and now more than 8,500 of its 10,000-plus team members work in the city's urban core. For more information about Quicken Loans, please visit QuickenLoans.com, on Twitter at @QLnews, and on Facebook at Facebook.com/QuickenLoans.
** Quicken Loans received the highest numerical score in the proprietary J.D. Power 2013 Primary Mortgage Origination StudySM. Study based on 3,267 total responses measuring 13 lenders and measures opinions of consumers who originated a new mortgage. Proprietary study results are based on experiences and perceptions of consumers surveyed in July-August 2013. Your experiences may vary. Visit jdpower.com.
SOURCE Quicken Loans