Survey: Mortgage refi crush exposed dangers of digital-heavy approach

Source: Inman — 

One-size-fits-all digital workflows are hurting customer satisfaction with mortgage lenders, according to an annual consumer survey that concluded “some level of human interaction” is still required to help borrowers negotiate the application and approval process.

The J.D. Power 2021 U.S. Primary Mortgage Origination Satisfaction Study measured a five-point drop in overall customer satisfaction with mortgage lenders from a year ago, largely driven by borrowers who were caught up in last year’s rush to refinance.