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Topping Charts: Lenders Who Are Leading Originations

A new report is ranking the top 25 lenders in Central Ohio based on mortgages closed. According to Columbus Business First, these lenders represent a combined 22,609 first mortgage loans for all of 2016. Cumulatively, the loans are worth $4.2 billion dollars, averaging $183, 847 per loan.

Leading the way is Union Savings bank (4,783 loans closed), Fifth Third Bank (2,919 loans closed), and Concord Mortgage Group (2,289 loans closed).

Click here to view the full list. The ranking was determined by self-reported information submitted via online survey.

According to Realtor.com, Ohio has been a hot market for home sales—with three local recently including in the organization’s 50 Hottest ZIP Codes list (with one Dayton ZIP code and two Cincinnati ZIP codes included).

Earlier this month J.D. Power released its own ranking of mortgage originators—stacking up national lenders by customer satisfaction.

The 2017 U.S. Primary Mortgage Origination Satisfaction Study used six factors to track customer satisfaction: application/approval process; interaction; loan closing; loan offerings; onboarding; and problem resolution. This year’s study was conducted in July-August 2017, fielding responses from 5,893 customers who originated a new mortgage or refinanced within the past 12 months.

Based on a 1,000 point scale, Guild Mortgage Company and Quicken Loans both fared tied for first with a mortgage origination satisfaction score of 878. PrimeLending was close behind with a score of 859.

Overall, J.D. Power found that custom customer satisfaction with mortgage originators declined by 8 basis points in 2017.

Craig Martin, Director of the Mortgage Practice at J.D. Power, said: “We’re at a critical inflection point in the mortgage industry where new technology and the growing use of digital mortgage application channels has made it possible for the origination process to move more quickly; however, the customer is still the final judge of speed and quality. A critical element of satisfaction is setting expectations, and this tends to be a weakness of technology, which is demonstrated by substantially lower satisfaction among customers who do not work with a human to complete their application.”

 

About Author: Rachel Williams

Rachel Williams attended Texas Christian University (TCU), where she graduated Magna Cum Laude with a dual Bachelor of Arts in English and History. Williams is a member of Phi Beta Kappa , widely recognized as the nation’s most prestigious honor society. Subsequent to graduating from TCU, Williams joined the Five Star Institute as an editorial intern, advancing to staff writer, associate editor and is currently the editor in chief and head of corporate communications. She has over a decade of editorial experience with a primary focus on the U.S. residential mortgage industry and financial markets. Williams resides in Dallas, Texas with her husband. She can be reached at Rachel.Williams@theMReport.com.

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