Survey Advantage is conducting a mortgage banking benchmark study to measure the quality of service delivered to borrowers and referral partners (loan officers and realtors). The industry report will be publish on December 15th following the collection of feedback from borrowers and referral partners right after a loan is closed. The pilot will be run with 40 mortgage businesses or business units and 10 Title and Closing businesses.

Timeline: September 1 through December 1, 2010

Pilot Goals

* Benchmark customer loyalty for both borrowers and referral partners
* Benchmark service quality such as meeting deadlines, offering advice, communication:
* Improve industry performance through objective benchmarking
* Demonstrate the value of an effective post-closing surveying to drive performance
* Benchmark performance based on company size and structure

What should participants expect?

On December 15th, 2010 Survey Advantage will publish the benchmark report. . Each participating business will receive the following:

* Month to month and quarterly scores compared to the benchmark
* Ongoing real time reporting throughout the study
* Individual surveys immediately upon submission
* Online dashboard to view individual and combined survey scores.
* Immediate alerts whenever a customer rates you negatively for quick response.
* Consulting on questions, survey delivery, and driving response rates.
* Complete management of the surveying process

How to participate?

Mortgage brokers, bankers, and title & closing businesses will either send Survey Advantage a monthly loan transaction report or e-mail our survey after each closings. Survey Advantage will work with each business to ensure the process is customized to their business, easy to execute, yet standardized where necessary for benchmark purposes. Each business will approve the survey layout, email invitations, and questions prior to execution of the process. Survey Advantage will do the rest. A professional survey will be delivered via e-mail to all borrowers and referral partners. Survey Advantage typically averages 30% response rates on borrower transaction surveys. View On-demand Demo.

Qualification Guidelines and Sign-up Process

Participating businesses or business locations must
*Generate at least 40 loan transactions a month (Banks & Brokers)
*Generate at least 25 loan transactions a month (Title and Closing)
*Be capable of emailing the loan transaction file the first week of each month or e-mailing the Survey Advantage survey link after closings.

We prefer to launch the survey to monitor response rates and drive the process. This benchmark study is free of charge for the first 40 mortgage banking or broker locations and 10 title and closing businesses participating. For additional businesses or business locations beyond the numbers above, the price is $350 to participate.

When signing up we will categorize participants into different categories to enhance benchmarks to compare like business models. We will need to know the following

* Banker, Broker, Title/Closing Business
* # of loans per month
* # of employees / # of loan officers
* # of locations
* Centralized (call center) or Decentralized (retail)
* % refinance / % purchase loans
* Annual loan value per year

The online sign-up form includes important information for benchmarking.

To participate, please contact Michael Casey of Survey Advantage directly at 401-560-0311 ext 103 or mcasey@surveyadvantage.com.