Be Proactive About Customer Satisfaction Or The CFPB Will Get You

STRATMOR Group, a consulting firm that helps mortgage banks build profitable mortgage lending operations, has launched a new survey under its innovative PeerViews industry survey-of-the-month program addressing the who, what, when and why of lenders’ borrower satisfaction measurement programs. Lenders are welcome to participate in this survey between now and August 7th, after which the survey will close. Survey results will be distributed free to participants by a target date of August 21st. Here’s why this is important:

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“Federal regulators have made it quite clear that the borrower experience is a metric that the government will use to gauge individual lender performance,” said Dr. Matt Lind, STRATMOR Group’s Managing Director. “Failure to satisfy borrowers poses a serious reputational and compliance risk that lenders must mitigate if they hope to succeed. Further, independent research has consistently shown that companies that continuously improve customer satisfaction achieve significantly superior financial results as well. How lenders are approaching this challenge is not clear; and that’s what our next PeerViews study will determine.”

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STRATMOR’s PeerViews program is a fast turnaround, small-survey program that gives senior mortgage executives a unique way to obtain specific qualitative mortgage industry information. All PeerViews surveys are conducted as “blind” surveys, with results aggregated to protect the privacy of participants. Full results of the survey are made available only to survey participants. For more information about this PeerViews survey, visit the company’s website.

STRATMOR Group is a mortgage industry advisory firm that offers a range of products and services designed to provide lender CEOs and senior executives in sales, marketing, technology and operations with comprehensive data and key insights across a full spectrum of consulting services. The firm serves more than 250 companies operating in the sector and provides consulting on strategies and actions clients should implement to improve growth and profitability, reduce risk or position themselves to make an acquisition or sell the company. It is well known across the industry for its financial models and its collaboration with the Mortgage Bankers Association in conducting the PGR: MBA and STRATMOR Peer Group Roundtables program.

About The Author

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Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.