“I think it speaks well for the industry, given the market, the challenges out there, the financial challenges, the challenges in the housing market,” Gehrke said. “They’re delivering.”
Several measures of the personal side of the experience moved lower, he said, including trust and communication. Fewer borrowers also say they have a main point of contact, 88% against 91% a year ago, according to the study.
“Not a big drop, but they’re falling back slightly. Not something that says, ‘Hey, this is a real problem.’ But it’s a hint at it, and it’s consistent across these,” Gehrke said.
Among borrowers who had problems, a greater share cite them after approval or on closing day, according to the study. The study also asks whether lenders honored their promises, especially on rates, points and pricing, Gehrke said.
Rate volatility did not stand out as the cause, he said, and problems tied to rates were at the same level as the past two or three years.
