Heardable Inc. examined 25 brands for its latest online brand health benchmark report, "The Top 25 Mortgage Lenders in America," a study that found that Quicken Loans's brand health score of 688 out of 1,000 possible points, defeating its closest competitor, Bank of America, by 128 points, or 18.60 percent, and surpassed third place Discover Home Loans by 135 points, or 19.62 percent. The gap between Quicken Loans and lowest-ranked Fremont Bank Mortgages was 538 points, or 78.20 percent.
"Quicken Loans completely dominates the online mortgage sector," said John Sharp, co-founder of Heardable. "Their smart use of technology has fundamentally changed consumer expectations for online lender engagement. Home loan competitors take heed."
Quicken's brand health score of 688 out of 1,000 possible points was 99 percent higher than the average combined score of the 24 other mortgage lenders evaluated in the report. According to Heardable, Quicken Loans ranked so highly due to three factors: Web site optimization (tech, mobile, user experience); breadth of social media participation; and search engine best practices and search engine optimization (SEO).
"Technology has become so critically important to our business," said Quicken Loans CEO Bill Emerson. "I think it should become more important to the industry. But it’s not just technology alone—it’s technology and process. What we’ve been able to do is take our technology, which has been built internally, and leverage it tremendously in how we handle the mortgage transaction from end-to-end."
According to Heardable, below is the Top 25 Mortgage Lender Brands Online
1. Quicken Loans
2. Bank Of America Home Loans
3. Discover Home Loans
4. Capital One Home Loans
5. HSBC Mortgages
6. U.S. Bank Home Mortgage
7. PennyMac
8. State Farm Bank
9. Wells Fargo Home Mortgage
10. Nationwide Bank Mortgage
11. CitiMortgage
12. AmeriSave
13. CashCall Mortgage
14. PNC Mortgage
15. Citizens Bank Mortgages
16. GMAC Mortgage
17. Chase Mortgage
18. EverBank Mortgages
19. Home Loan Investment Bank
20. SunTrust Mortgage
21. Greenlight Financial
22. Union Bank Home Loans
23. Crestline Funding
24. Provident Funding
25. Fremont Bank Mortgages
