Wachovia moved up from ranking third in 2006
CHARLOTTE, N.C., Dec. 13 /PRNewswire-FirstCall/ -- Wachovia Bank is
ranked highest in customer satisfaction for primary mortgage loan
originations in 2007, according to the 2007 Primary Mortgage Origination
Study.
In a report issued today by J.D. Power and Associates, Wachovia
received an overall customer satisfaction score of 827, based on a 1,000
point scale, which was nine points higher than the nearest competitor. The
average score was 750.
"We are honored to be recognized as the top bank in mortgage loan
origination customer satisfaction by J.D. Power and Associates," said David
Pope, Wachovia's chief operating officer for Wachovia Mortgage and Retail
Credit. "Wachovia has tremendous pride in our customer service reputation,
and we look forward to continuing to deliver outstanding service to all of
our mortgage customers."
Becky DeGeorge, customer experience leader for Wachovia Mortgage and
Retail Credit, said, "We are proud to be setting a new standard in customer
service for the mortgage industry. Our consistent leadership in customer
satisfaction shows we have a model that works across all business lines.
That's a great foundation for winning the loyalty of existing customers and
attracting new customers in a challenging environment."
The study measured customer satisfaction in four key factors: problem
resolution, interaction with the loan representative, application approval
and closing.
Wachovia has been recognized by multiple independent organizations for
providing exceptional customer service. Wachovia rated No. 1 among major
banks in overall customer satisfaction according to 2006 Consumer Reports;
in addition, Wachovia has been ranked highest in overall customer
satisfaction for two consecutive years in J.D. Power and Associates' Home
Equity Line/Loan Origination Study. Wachovia also rated No. 1 in customer
satisfaction for the sixth consecutive year in the 2006 University of
Michigan Business School's American Customer Satisfaction Index.
About Wachovia Corporation
Wachovia Corporation (NYSE: WB) is one of the nation's largest
diversified financial services companies, with assets of $754.2 billion and
market capitalization of $95.3 billion at September 30, 2007. Wachovia
provides a broad range of retail banking and brokerage, asset and wealth
management, and corporate and investment banking products and services to
13 million household and business customers. Wachovia has 3,400 retail
financial centers in 21 states from Connecticut to Florida and west to
Texas and California, and nationwide retail brokerage, mortgage lending and
auto finance businesses. Globally, clients are served in selected corporate
and institutional sectors and through more than 40 international offices.
Our retail brokerage operations under the Wachovia Securities brand name
manage more than $800 billion in client assets through 11,400 registered
representatives in 786 offices nationwide. The acquisition of A.G. Edwards,
Inc., following the end of the third quarter, added approximately 740
offices, 6,300 financial consultants and $384 billion in brokerage client
assets. Online banking is available at wachovia.com; online brokerage
products and services at wachoviasec.com; and investment products and
services at evergreeninvestments.com.
About J.D. Power and Associates
Headquartered in Westlake Village, Calif., J.D. Power and Associates is
an ISO 9001-registered global marketing information services firm operating
in key business sectors including market research, forecasting, performance
improvement, training and customer satisfaction. The firm's quality and
satisfaction measurements are based on responses from millions of consumers
annually. For more information on car reviews and ratings, car insurance,
health insurance, cell phone ratings, and more, please visit JDPower.com.
J.D. Power and Associates is a business unit of The McGraw-Hill Companies.
SOURCE Wachovia Corporation
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Related links:
http://www.wachovia.com
http://www.prnewswire.com/comp/314125.html/
CONTACT:
Don Vecchiarello of Wachovia Corporation,
+1-704-383-2395, don.vecchiarello@wachovia.com
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