Satisfaction among mortgage customers has improved overall this year as lenders have shifted their focus to developing functional digital channels and improving operational efficiency, according to a study from J.D. Power released Monday.
The study showed that overall customer satisfaction with mortgage origination averages 793 on a one thousand-point scale in 2015, up seven points from 2014. JD Power credits much of the increase to a 22 point jump in the application and approval process factor, which was influenced by improved perceptions of the speed of the loan process.
The Federal Housing Administration’s Mutual Mortgage Insurance Fund gained 19 billion dollars in economic value during Fiscal Year 2015, pushing its capital ratio past the 2 percent threshold required by Congress, according to HUD’s annual report to Congress released Monday morning. The independent actuarial analysis found the MMI’s capital ratio to be at 2.07 percent thanks to strong actions taken to reduce risk, cutting losses, and improving recoveries.