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National Mortgage Company Leverages Feedback to Guarantee Exceptional Customer Service

Customer Background
A large mortgage services company measures their success by the percentage of customers who would recommend their services to others. As one of the leading originators of retail residential mortgages in the United States, the Company provides billions of dollars in mortgage financing each year.

The Challenge
According to a Company spokesperson, one of the primary drivers of the organization is exceptional service. The Company guarantees this exceptional service by conducting a post-closing survey on behalf of about 50 mortgage lenders, to make sure customers' mortgage experience is truly what the company promises.

The goal of the survey is to measure how many customers would recommend the Company's services to others. The survey data is used to provide feedback to clients and customers as well as for compensation purposes. The survey is also a means to solicit feedback from dissatisfied customers so that their concerns can be addressed.

The Mortgage Company needed to implement a more streamlined survey process that would give customers a number of different ways to respond. They needed to be able to gather the feedback as quickly and accurately as possible, and the entire survey process also needed to be completely objective.

The Solution
After reviewing various options for an improved survey system, the IT Department and the Office of the President chose to work with Perseus' SurveySolutions® Enterprise, and to enlist the help of Perseus' Custom Development Team for strategic advice on the entire survey process, from the technical implementation details to the data analysis. According to the spokesperson, Perseus offered the product that they needed at a reasonable price. More importantly, they found the team at Perseus to be flexible, knowledgeable and responsive.

SurveySolutions Enterprise is extremely cost-effective for large survey volume. It offers immediate deployment through Perseus' secure hosting environment, and does not require IT involvement from the Mortgage Company.

The implementation includes both an email and phone (CATI) component. Perseus' Custom Development Team provides dedicated and secure server hosting and data warehousing in an Oracle environment. Perseus assists the Company on an ongoing basis with data processing, as well as with strategic guidance in their survey process, including identifying ways to maximize the response rate.

Since implementing the new Perseus survey system, the Mortgage Company's response rate has increased, the feedback from customers is timelier, and the entire survey process is more objective. The process has also been streamlined, saving time for all departments involved. Typically, about 4,000 survey responses are received per month, resulting in an overall response rate of more than 40 percent!

A critical component of the survey process at the Company is follow-up with customers who say that they would not recommend the Company's services to others, or who have questions or negative comments. The results from these follow-ups are used to determine the cause of the dissatisfaction, which is then used for trend analysis. This information is vital: only when customers' experiences are known can the Company focus efforts to respond and improve to ultimately increase customer satisfaction.

Research has shown that a customer who was dissatisfied and had a satisfactory resolution to their complaint is more likely to recommend than a customer who never had a complaint, says the Company's spokesperson. Therefore the Company feels it is important to solicit feedback from customers, not only so they can address every customer's concerns, but also so they can continue to deliver on their mission to make the process smooth and easy.

For the future, the Mortgage Company is expanding their use of Perseus' products and services to include surveys for its financial advisors and mortgage subsidiaries.