Lender Customer Satisfaction Up In 2023 Thanks To Borrower-Centric Approaches

Mortgage lenders who pivoted to borrower-centric approaches in the last year saw customer satisfaction soar despite high rates. That’s according to the J.D. Power 2023 U.S. Mortgage Origination Satisfaction Study, which found overall customer satisfaction with mortgage lenders rose 14 points YOY, even as the average mortgage rate has climbed to its highest level in 23 years and lending volume tanked. The reason? Increased focus on the borrowing experience, leading to happier customers. While nearly a third of customers said they chose the lender with the lowest rate, 69% cited other reasons like personalized service and helpfulness. “The value equation for mortgage originators has shifted from instant approvals and lightning-fast processing to helpful advice and creative problem solving,” said Bruce…

Veteran Mortgage Execs Join Fairway

Three veteran mortgage execs are joining Fairway Independent Mortgage as part of an “aggressive expansion” of the company’s production group, Fairway announced in a press release. Scott Bristol joins as SVP, Sales and Recruiting; Brian Chick as SVP, Area Manager; and John Lowe as SVP, Division Manager. “We’re pleased to welcome Scott, Brian, and John to Fairway, as well as many others,” said Fairway CEO Steve Jacobson.  “We have increased the number of our originators by 30% over the past year.” Bristol previously served as President of PrimeLending from 2014 to 2018, and lead the company to a volume increase from $4 billion to $15 billion. He later joined Flagstar Bank as SVP of National Production, overseeing another jump in…