From CAR – Overall satisfaction among mortgage customers declined 18 index points to 739 in 2009 from 757 in 2008, according to the J.D. Power and Associates 2009 Primary Mortgage Origination Satisfaction StudySM.

The average time required to approve and close a loan increased to nearly 47 days in 2009, compared with approximately 30 days in 2008, primarily due to increased scrutiny of loan applications and higher origination volumes driven by increases in refinancing, according to the study.

More info