Mortgage Brokers and Lenders, A J.D. Powers Report

I thought this was a pretty interesting article. Speaking with many of my customers they informed me that they had previously believed using mortgage brokers in Virginia was somehow more expensive.J.D. Power and Associates Reports: Mortgage Brokers Provide Valuable Service for Home Loan Customers. Although slightly fewer than one-third of mortgage shoppers use a broker to help them find their current mortgage, those customers who do tend to be very satisfied with the lending experience, according to the J.D. Power and Associates 2005 Home Mortgage StudySM released today.Among consumers who responded to the survey, 29 percent indicate that they contacted a broker to help them find their current mortgage. Those customers who used mortgage brokers tend to be substantially more satisfied with the broker personnel compared with those who interfaced directly with the lender’s personnel.

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