STRATMOR Group is expanding its MortgageSAT borrower satisfaction survey program to cover servicing operations.
Currently, MortgageSAT – Origination continuously surveys tens of thousands of borrowers (35,000 so far this year) to gauge their satisfaction with the loan origination process, providing lenders with invaluable insight, letting them pinpoint sources of dissatisfaction and take corrective action.
MortgageSAT – Servicing takes this same concept into servicing, where lenders have the opportunity to either build upon the “feel good” effect of a borrower’s positive origination experience and gain repeat business and referrals, or squander it altogether.
In combination, the two surveys will enable lenders to track and manage borrower satisfaction over the entire lifecycle of a loan.
Guild Mortgage Co., one of the nation’s largest independent mortgage lenders, will be first to implement MortgageSAT – Servicing. Initially, Guild will use it as an internal management intelligence tool, strictly focused on gauging the satisfaction levels of its customers. As additional lenders enroll in the program, Guild and other participating lenders will be able to benchmark servicing satisfaction scores against other (anonymized) servicers, thus enabling them to identify best practices and continually gauge success in keeping customers happy.
“Research has shown that the good feeling a borrower has towards a lender following a positive origination experience has a ‘halo’ effect through the first cycle of their servicing experience,” says Tim Ryan, senior director for the MortgageSAT program at STRATMOR, in a release. “This gives lenders an opportunity to gain repeat business and ongoing positive referrals if they can successfully maintain high satisfaction levels during and after the transition from origination to servicing.”