Browsing: Mortgage

Mortgage

Large bank mortgage servicers overall notched higher customer satisfaction ratings than large nonbank servicers, according to the 2015 J.D. Power study of consumer satisfaction with their primary mortgage servicers. Customers gave bank servicers on average 731 points out of 1,000, while nonbanks notched on average 658 points.

Mortgage

The conforming loan limits for mortgages that Fannie Mae and Freddie Mac will purchase are too high, ABA said in a comment letter yesterday. Given post-crisis house price declines, the average mortgage loan amounted to $294,000 in March 2014 — well below the GSEs’ $417,000 and $625,500 in high-cost areas.

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