HousingWireHousingWire
Lansing, Michigan-based reverse mortgage servicing company Celink this week announced that it earned a high net promoter score (NPS) of 74, which is generally considered an “excellent” rating of customer loyalty, following a survey of its clients.
Created by author Fred Reichheld about 20 years ago, the net promoter score is a common tool used in the practice of market research to gauge customer loyalty, satisfaction and the likelihood of recommending a business for a particular service. Celink’s score of 74 signals a preponderance of “typically loyal and enthusiastic customers,” according to market research firm Qualtrics.
“We are honored to have received such a resounding endorsement from our clients regarding the level of service we provide to them,” Marion McDougall, CEO of Celink, said in a statement. “The average NPS score for the financial services industry in 2023 was 44, so we are very proud to have achieved this level of satisfaction from our client base.”
Celink is the current holder of the U.S. Department of Housing and Urban Development (HUD)’s Home Equity Conversion Mortgage (HECM) servicing contract. It is also a HECM subservicer for several major lenders. Earlier this year, bond credit-rating agency Moody’s Investors Service reaffirmed its “above-average” rating for the company’s reverse mortgage servicing performance.
In 2023, Celink renewed subservicing deals with major reverse mortgage lenders including industry leaders Finance of America and Mutual of Omaha Mortgage. It also retained Altisource to help manage its HECM portfolio.
According to Fortune, the ubiquity of the net promoter score in measuring customer sentiment largely stems from its transparency and simplicity, and the fact that it’s a free tool for companies to use. Its owner, Bain & Co., oversees a dedicated NPS business practice that served 750 implementation projects between 2010 and 2020, but it elected not to share its revenue with the publication.
