JD Power: Rocket Leads In Customer Satisfaction

Rocket Mortgage by Quicken Loans announced Monday that J.D. Power named the company the US leader for client satisfaction in primary mortgage origination for the 11th straight year.

The company said it ranked “best in class” in every category that made up the total satisfaction score, including overall satisfaction, application and approval, loan offering, loan closing and communication with customers.

The J.D. Power study found:

  • 92 percent of those surveyed said Rocket Mortgage team members completely explained the application and approval process
  • 94 percent of Rocket Mortgage clients surveyed said the application-related documents were easy to understand. 
  • 80 percent of the clients surveyed said they will “definitely” consider Rocket Mortgage for their next home purchase. 

Rocket Mortgage ranked highest with a score of 883. Bank of America (860) and Chase (860) tied for second.

The 2020 U.S. Primary Mortgage Origination Satisfaction Study measures overall customer satisfaction based on performance in four factors (in alphabetical order): application/approval process; communication; loan closing; and loan offerings. The study was fielded in June-August 2020 and is based on responses from 4,300 customers who originated a new mortgage or refinanced within the past 12 months.

“This accolade comes after we experienced record-breaking loan volume in the first two quarters of 2020,” Rocket Mortgage CEO Jay Farner said. “Results like this can only be achieved with the combination of world-class technology and the absolute passion and pride of our team members.”

CompanySatisfaction Index
Rocket Mortgage by Quicken Loans883
Bank of America860
Industry Average856
US Bank848
Wells Fargo840
Guaranteed Rate832
Mr. Cooper832
Citizens Mortgage826
Fifth Third825
Flagstar Bank821
Freedom Mortgage817
Source: JD Power