Only 41% of mortgage borrowers are currently classified as “financially healthy,” down from 46% in 2023 and 52% in 2022, J.D. Power said in its 2024 U.S. Mortgage Servicer Satisfaction Study. The percentage of at-risk borrowers rose to 19%, up from 17% in 2023.
The overall customer satisfaction score for mortgage servicers was 606 on a 1,000-point scale, up five points from 2023. Improvements in problem resolution and satisfaction with digital channels were the primary drivers of this year’s higher scores, according to J.D. Power.
Although satisfaction with mortgage servicer websites and apps improved, borrowers say the phone remains the most likely customer service channel to drive a successful outcome, and 29% of borrowers still considered it the easiest channel to use. Among those who had a problem, 49% said their initial contact was calling customer service.
