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Wachovia Ranks Highest in Primary Mortgage Loan Originations According to J.D. Power and Associates Survey
Wachovia moved up from ranking third in 2006
Wachovia Bank is ranked highest in customer satisfaction for primary mortgage loan originations in 2007, according to the 2007 Primary Mortgage Origination Study.
In a report issued today by J.D. Power and Associates, Wachovia received an overall customer satisfaction score of 827, based on a 1,000 point scale, which was nine points higher than the nearest competitor. The average score was 750.
"We are honored to be recognized as the top bank in mortgage loan origination customer satisfaction by J.D. Power and Associates," said David Pope, Wachovia's chief operating officer for Wachovia Mortgage and Retail Credit. "Wachovia has tremendous pride in our customer service reputation, and we look forward to continuing to deliver outstanding service to all of our mortgage customers."
Becky DeGeorge, customer experience leader for Wachovia Mortgage and Retail Credit, said, "We are proud to be setting a new standard in customer service for the mortgage industry. Our consistent leadership in customer satisfaction shows we have a model that works across all business lines. That's a great foundation for winning the loyalty of existing customers and attracting new customers in a challenging environment."
The study measured customer satisfaction in four key factors: problem resolution, interaction with the loan representative, application approval and closing.
Wachovia has been recognized by multiple independent organizations for providing exceptional customer service. Wachovia rated No. 1 among major banks in overall customer satisfaction according to 2006 Consumer Reports; in addition, Wachovia has been ranked highest in overall customer satisfaction for two consecutive years in J.D. Power and Associates' Home Equity Line/Loan Origination Study. Wachovia also rated No. 1 in customer satisfaction for the sixth consecutive year in the 2006 University of Michigan Business School's American Customer Satisfaction Index.
Wachovia Corporation (NYSE: WB)
For more information, visit www.wachovia.com