Mortgage servicing tied to repeat business

Customer satisfaction with companies that service mortgages has declined for a second year in a row, according to a survey by J.D. Power and Associates -- a potential problem for lenders looking to land repeat business.

Customers with "high levels of commitment" to their servicer are more than three times more likely to say they “definitely will” continue to do business with their current lender than those customers with "moderate" levels of commitment, J.D. Power said in announcing results of the 2008 Primary Mortgage Servicer Study.

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